06-28-2017 City of Clermont
MINUTES
POLICE OFFICERS RETIREMENT PLAN BOARD OF TRUSTEES MEETING
June 28,2017
The Police Officers Retirement Plan Board of Trustees met in a regular meeting on Wednesday, June 28,
2017 in the Council Chambers at City Hall. Board Members present: Michael Scheller, Scott Tufts,Jason
Sayre, and John Baker. Attorney Scott Christiansen was not present. Jeremy Langley; Florida League of
Cities, was present. Staff members present: Finance Director VanZile, Risk and Benefits Manager
Ohlinger, and Deputy City Clerk Noak.
CALL TO ORDER
Chairman Scheller called the meeting to order at 10:00am
PUBLIC COMMENTS
Chairman Scheller opened for public comments. There were no public comments. Chairman Scheller
closed public comments.
MINUTES
Approval of the March 23, 2017 Police Officer Pension Board Minutes.
Board Member Sayre moved for approval; seconded by Board Member Baker. The
motion passed unanimously.
NEW BUSINESS
Approval of Amended Summary Plan Description-Police Officer Pension Plan
Finance Director VanZile reviewed the amendments to the Summary Plan Description which were
made over the past year. The document will be sent to the Pension Board Members, Firefighters, and
Human Resources. The Summary Plan Description will be provided to new employees during the
Employee Orientation process.
Board Member Sayre moved for approval; seconded by Board Member Tufts. The
motion passed unanimously.
Pension Board Vacancy
Finance Director VanZile announced Board Member Les Booker resigned and staff will work on a
replacement for the remainder of his term.
Plan Analysis
Finance Director VanZile suggested having an outside consultant conduct a comparison of the City's
plan with the Florida League of Cities with other available plans.
Jeremy Langley indicated the Florida League of Cities is not opposed to having a comparison
conducted and reminded the Pension Board of Trustees the Florida League of Cities plan is all
inclusive,making a comparison difficult. The cost of a consultant is approximately$35,000.
The Pension Board agreed to have Finance Director VanZile provide an estimate.
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City of Clermont
MINUTES
POLICE OFFICERS RETIREMENT PLAN BOARD OF TRUSTEES MEETING
June 28,2017
PLAN ADMINISTRATOR REPORT
Discussion of Investment Performance Report for Quarter Ending March 31, 2017
Jeremy Langley presented the Investment Performance Report for the quarter ending March 31, 2017.
Mr. Langley reported the Florida League of Cities has selected Morgan Stanley to manage the real
estate investment portion of the plan.
ATTORNEY REPORT
Attorney Christiansen was not present.
BILLS AND EXPENSES FOR APPROVAL
Approval of Plan Expenses—March 17, 2017—June 8, 2017
Finance Director VanZile presented the following Plan Expenses:
Invoice No. 30151 $ 531.70
GASB Prep Report $ 3,262.50
Actuarial valuations $12,187.50
Ordinance Impact Statement $ 450.00
Quarterly Fees $ 6,202.43
Invoice No. 30274 $ 2,320.56
Invoice No. 30420 $ 245.40
Board Member Sayre moved for approval; seconded by Board Member Tufts. The
motion passed unanimously.
Approval of Member Distributions—March 17, 2017—June 8, 2017
Finance Director VanZile presented the following Member Distributions:
Seth Bartee, Lump Sum $ 7,605.06
Board Member Baker moved for approval; seconded by Board Member Tufts. The
motion passed unanimously.
ADJOURN: With no further comments,this meeting adjourned at 11:15am.
APPROVED:
Chairman Scheller
ATT T:
OP I nip"
Tracy Ackroyd IA City Clerk
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