12-15-2016 Minutes City of Clermont
MINUTES
FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 15, 2016
The.Firefighters Retirement Plan Board of Trustees met in a regular meeting on Thursday, December 15,
2016 in the Council Chambers at City Hall. Firefighters' trustees present: Judd Lent, Adam Watkins, Jim
Purvis, and Sy Holzman. Attorney Bonni Jensen was present via telephone conference call. Jeremy
Langley and Rodney Walton; Florida League of Cities, were present. Staff members present: Finance
Director Van Zile,Risk and Benefits Manager Ohlinger,and Deputy City Clerk Noak.
Board Member Ryan Moore was absent. Board Member Adam Watkins arrived during the meeting.
CALL TOaORDER
Chairman Lent called the meeting to order at 1:02pm.
PUBLIC.COMMENTS
Chairman Lent opened for public comments. There were no public comments. Chairman Lent closed
public comments.
APPROVAL OF MINUTES
Approval of minutes of the September 13, 2016 Fire Pension Board Meeting.
Board Member Purvismoved for approval; seconded by Board Member Holzman. The
motiompassed unanimously.
Chairman Lent stated he received a letter from the Division of Retirement regarding filing the annual
report. Attorney-Jensen'stated the board is responsible for ensuring the annual report has been filed
online. Finance°Director VanZile stated Laura Underhill; Florida League of Cities, contacted his office
and the Florida League of Cities will be filing the annual report online.
NEW BUSINESS
Chairman Lent deferred discussion on the meeting dates and time until Board Member Watkins arrived.
Discussion of plan amendment to change the in line of duty death benefit for a non-vested member.
Attorney Jensen:suggested developing language for the actuary's review and present the changes to the
City Council. Finance Director-VanZile stated the change would allow the same in line of duty death
benefit for a non-vested member as is allowed for an in line of duty vested member. Attorney Jensen
suggestedremoving the.wording regarding the required years of credited service, and clarifying the
provision on when the benefit is payable.
Finance Director VanZile will provide the board with the document at the March 2017 meeting.
Board Member Purvis moved to table to the March 2017 meeting; seconded by Board
Member!Holzman. .The motion passed unanimously.
Board Member Watkins arrived at 1:22pm.
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City of Clermont
MINUTES
FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 15,2016
Discussion of 2017 Meeting Dates and Times.
The board reviewed the suggested meeting dates and agreed to the following:
March 15, 2017 at 9am; June 15, 2017 at 1:30pm; September 14, 2017 at 1:30pm; and December 14,
2017 at 1:30pm.
PLAN ADMINISTRATOR.REPORT
Discussion of the Investment Performance Report for Quarter Ended September 30, 2016.
Jeremy Langley presented the Investment Performance Report for the fourth and final quarter for fiscal
year 2016.
Board Member Purvis asked if reallocating any of the funds would occur. Mr. Langley indicated there
were no plans to reallocate funds; however, reallocation options could be presented to the board for
consideration. The board was inagreementto review any reallocation options.
ATTORNEY REPORT
Attorney Jensen stated within the next two years the board will need to use a different mortality table and
the League of Cities will begin moving forward with the change.
Attorney Jensen indicated the Florida Retirement System has recommended a new investment return
assumption. Chairman Lent stated the investment return was currently 7.5 percent.
BILLS AND EXPENSES FOR<APPROVAL
Approval of Plan Expenses for June 10, 2016—September 8, 2016
Finance Director VanZile presented the following expenses:
Invoice No. 18822 $ 1,775.00
Quarterly Fees $ 5,241.57
Annual Administration Fee $ 1,000.00
Invoice No: 18865 $ 2,121.00
Invoice No. 19014 $ 210.23
Board Member Holzman moved for approval; seconded by Board Member Purvis. The
motion passed unanimously.
Attorney Jensen asked if the DeMarinis family has filed an appeal regarding the board's denial of a post-
humus purchase;of prior service. The deadline for filing an appeal is January 16, 2017. The DeMarinis
family has not filed an appeal.
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City of Clermont
MINUTES
FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 15, 2016
ADJOURN: With no further comments, this meeting was adjourned at 1:37pm.
APPROVED:
/ / `firman Judd Lent
ATTEST:
Tracy Ackroyd Howe, City Clerk
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