12-15-2016 City of Clermont
MINUTES
POLICE OFFICERS RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 15, 2016
The Police Officers Retirement Plan Board of Trustees met in a regular meeting on Thursday,
December 15, 2016 in the Council Chambers at City Hall. Board Members present: Michael Scheller,
Scott Tufts, John Baker, and Jason Sayre. Attorney Scott Christiansen was present via telephone
conference call. Jeremy Langley and Rodney Walton; Florida League of Cities, were also present.
Staff members present: Finance Director VanZile, Risk and Benefits Manager Ohlinger, and Deputy
City Clerk Noak.
CALL TO ORDER
Board Member Tufts called the meeting to order at 2:20pm.
PUBLIC COMMENTS
Board Member Tufts opened for public comments. There were no public comments. Board Member
Tufts closed public comments.
MINUTES
Approval of minutes of the September 20, 2016 Police Pension Board Meeting.
Board Member Backer moved for approval of the minutes; seconded by Board Member
Sayre. The motion passed unanimously.
NEW BUSINESS
Discussion of plan amendment to change the in line of duty death benefit for non-vested members.
Finance Director VanZile stated the Firefighter Pension Board discussed plan changes regarding the in
line of duty death benefit for non-vested members. The plan currently provides the beneficiary of a non-
vested member who dies in the line of duty to receive only the accumulated contributions. The
Firefighter Pension Board requested enhancement of the non-vested member benefit to a similar benefit
of a vested member. The plan actuary has stated there are several plans which provide a similar benefit
and the increase to the plan cost would be negligible.
The Board was interested in moving forward with changing the plan. Finance Director VanZile will work
with the Firefighter and Police Officer Pension Board attorneys and present the options to the Board at the
next meeting in March.
PLAN ADMINISTRATOR REPORT
Discussion of Police Officers Pension Plan Investment Performance Report for Quarter Ended June 30,
2016. (Tabled from the September 20, 2016 meeting).
Jeremy Langley presented an overview of the Police Officers Pension Plan Investment Performance
Report for the quarter ending June 30, 2016.
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City of Clermont
MINUTES
POLICE OFFICERS RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 15, 2016
Discussion of Investment Performance Report for Quarter Ended September 30, 2016
Jeremy Langley presented an overview of the Investment Performance Report for the fourth quarter of
fiscal year 2016.
Chairman Scheller arrived at 2:39pm.
ATTORNEY REPORT
Attorney Christiansen stated Jason Sayre's term as the fifth member would end December 1, 2016.
Board Member Tufts moved to select Jason Sayre for another two year term as the fifth
member; seconded by Chairman Scheller. The motion passed unanimously.
Attorney Christiansen indicated the Summary Plan description would need to be distributed to the Police
Officers. Risk and Benefits Manager Ohlinger will distribute the Summary Plan.
Finance Director VanZile will provide the Fiscal Year end report to the City Council, along with Pension
Letter Number 2,and attach a listing of all the assets of the Pension Board.
Finance Director VanZile will prepare the required Expense Report for approval by the Pension Board at
the next meeting in March.
Attorney Christiansen requested moving the March 16, 2017 meeting to 2pm on March 23, 2016.
Finance Director VanZile inquired of moving forward with changes to the Share Plan.
The board agreed to review several different options at the March 23,2017 meeting.
BILLS AND EXPENSES FOR APPROVAL
Approval of Plan Expenses—September 9, 2016—November 30, 2016
Finance Director VanZile presented the following Plan Expenses:
Invoice No. 29293 $ 275.80
Quarterly Fees $6,134.20
Annual Administration Fee $1,000.00
Letter of no impact $ 300.00
Invoice No. 29459 $ 472.80
Board Member Baker moved for approval; seconded by Board Member Sayre. The
motion passed unanimously.
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City of Clermont
MINUTES
POLICE OFFICERS RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 15,2016
Approval of Member Distributions—September 9, 2016—November 30, 2016
Finance Director VanZile presented the Member Distributions:
Rene Castro Lump Sum $ 2,859.60
Rene Castro Lump Sum—Rollover $255,323.72
Rene Castro Lump Sum $ 7,722.10
Rene Castro Lump Sum—Rollover $ 50,000.00
Chairman Scheller moved for approval; seconded by Board Member Tufts. The motion
passed unanimously.
ADJOURN: With no further comments,this meeting adjourned at 3:09pm.
APPROVED:
Chairman Scheller
ATT T:
Tracy Ackrold Howe, City Clerk
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