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09-20-2016 City of Clermont MINUTES POLICE OFFICERS RETIREMENT PLAN BOARD OF TRUSTEES MEETING September 20,2016 The Police Officers Retirement Plan Board of Trustees met in a regular meeting on Tuesday, September 20, 2016 in the Council Chambers at City Hall. Board Members present: Michael Scheller, Scott Tufts, Jason.Sayre, and John Baker. Staff members present: Finance Director VanZile and Deputy City Clerk Noak. Attorney Scott Christiansen and Jeremy Langley were not present. CALL TO ORDER Chairman Scheller called the meeting to order at 4:00pm. PUBLIC COMMENTS There were no public comments. MINUTES Approval of minutes of the June 22, 2016 Police Pension Board Minutes. Board Member Sayre moved for approval; seconded by Board Member Tufts. The motion passed unanimously. UNFINISHED BUSINESS Approval of Amended Police Officers Pension Plan Summary Plan Description—September 13, 2016 Finance Director VanZile presented the changes to the Summary Plan. The amendments included allowing the purchase of prior serviceat any time during active employment with the City, allowing for payment options, and clarifying the language on entering into the DROP program. Board Member Tufts inquired of the prior service purchase time counting toward vesting. Finance Director VanZile stated-the:purchased:time would apply toward vesting. Board Member.Tufts moved for approval; seconded by Board Member Sayre. The motion passed unanimously. NEW BUSINESS Approval of Police Officers Pension Plan Fiscal Year 2017 Budget Finance Director VanZile presented the Police Officers Pension Plan budget for Fiscal Year 2017. Chairman Scheller moved for approval; seconded by Board Member Tufts. The motion passed unanimously. Discussion of Vacant City Appointed Trustee Position—Bob Peraza Finance Director VanZile stated Mr. Peraza's remaining term through December 2017 will be advertised and the City Council will appoint a trustee at the December 13, 2016 Council meeting. 1 City of Clermont MINUTES POLICE OFFICERS RETIREMENT PLAN.BOARD OF TRUSTEES MEETING September 20,2016 PLAN ADMINISTRATOR REPORT Discussion of Police Officers Pension Plan Investment Performance Report for Quarter Ended June 30, 2016. Jeremy Langley; Florida League of Cities, was not present. Board Member Baker moved to table to the next Board meeting; seconded by Board Member-Sayre. The motion passed unanimously. ATTORNEY REPORT Attorney Christiansen was not present. Finance Director VanZile presented the meeting dates provided by Attorney Christiansen. March 16, 2017 at 3:00pm. June 15,2017 at 3:00pm. September 14,2017 at 3:00pm. December 14,2017 at 4:00pm. BILLS AND EXPENSES FOR APPROVAL Approval of Plan Expenses-June 10, 2016—September 9, 2016 Finance Director VanZile presented the following expenses for approval: Quarterly Fees $5,896.28 Invoice No. 28228 $ 275.80 Actuarial $ 600.00 Invoice No. 28356 $ 118.20 Invoice#28685 $ 78.80 Board Member Tufts moved for approval; seconded by Board Member Sayre. The motion passed unanimously. ADJOURN: With no further comments,this meeting was adjourned at 4:22pm. APPROVED: Chairman Scheller ATTEST Tracy Ackroyd Howe,City Clerk 2