12-14-2017 Retirement Plan Board City of Clermont
MINUTES
POLICE OFFICERS RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 14,2017
The Police Officers Retirement Plan Board of Trustees met in a regular meeting on Thursday, December
14, 2017 in the Council Chambers at City Hall. Board Members present: Michael Scheller, Jason Sayre,
and John Baker. Attorney Scott Christiansen was present. Jeremy Langley; Florida League of Cities,was
present. Staff members present: Finance Director Van Zile, Risk and Benefits Manager Ohlinger, and
Deputy City Clerk Zinker.
Board Member Scott Tuft was absent.
CALL TO ORDER
Chairman Scheller called the meeting to order at 4:10pm.
OATH OF OFFICE
Deputy City Clerk Zinker administered the Oath of Office to John Baker and Michael Scheller.
PUBLIC COMMENTS
Chairman Scheller opened public comments. There/were no public comments. Chairman Scheller closed
public comments.
APPROVAL OF MINUTES
Approval of the September 14, 2017 Police Officer Pension Board Minutes.
Board Member Baker moved for approval; seconded by Chairman Scheller. The motion
passed unanimously.
UNFINISHED BUSINESS
Discussion of Pension Plan Review
Finance Director Van Zile updated the Board on the status of the Pension Plan Performance Review being
conducted by Public Financial Management Asset Management, LLC consultants. Finance Director Van
Zile has reviewed a first draft of the report, but the final report is not complete at this time. The final
report should be ready for presentation at the February 2018 Board meeting.
Discussion of Trustee Elections and Appointments
Finance Director Van Zile noted Board Members Scott Tufts and Michael Scheller were re-elected by the
plan members for another two-year term. On December 12, 2017 the City Council reappointed John
Baker for another two-year term. The City Clerk's office will be reaching out to those who were not
appointed to any boards at the previous council meeting to see if they would be interested in serving on
the Police Officer Pension Board of Trustees.
Attorney Christiansen proposed changing half of the board members' terms from two-year terms to one-
year terms in order to stagger the board appointments.
1
City of Clermont
MINUTES
POLICE OFFICERS RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 14,2017
NEW BUSINESS
Approval of Police Officers Pension Plan Actual Expenses-FY 2017
Attorney Christiansen stated, per State Legislature, the Board is required to approve the actual
administrative expenses for the previous fiscal year at the start of the new fiscal year.
Chairman Scheller motioned to approve; seconded by Board Member Baker. The motion
passed unanimously.
Approval of 2018 Meeting Dates
Finance Director Van Zile presented the proposed meeting dates for the year 2018.
Mr. Jeremy Langley stated the investment reports might not be completed in time for the proposed
meeting dates.
Finance Director Van Zile was approved to re-schedule all proposed meeting dates for the year 2018.
BILLS AND EXPENSES
Approval of Plan Quarterly Expenses
Chairman Scheller reviewed the Plan Quarterly Expenses with the Board.
Chairman Scheller motioned to approve. Member Sayre seconded the motion. The
motion passed unanimously.
MEMBER DISTRIBUTIONS
Approval of Member Distributions
Finance Director Van Zile stated there were no member contributions made for this quarter.
DROP PARTICIPANTS
Approval of DROP participants
Finance Director Van Zile stated there were no DROP participants at this time.
PLAN ADMINISTRATOR REPORT
Discussion of Investment Performance Report for Quarter Ending September 30,
2017
Mr. Jeremy Langley reviewed Investment Performance Report. All managers met expectations but they
will be keeping an eye on one manager that is struggling.
2
City of Clermont
MINUTES
POLICE OFFICERS RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 14,2017
ATTORNEY REPORT
Attorney Christiansen reported it is time for the board to reselect officers, as it must be done every two
years.
Board Member Sayre motioned to re-elect Michael Scheller as Chairman and John Baker
as Secretary; seconded by Board Member Baker.The motion passed unanimously.
Attorney Christiansen suggested postponing the Operating Rules and Procedures to the next meeting as
the Board Members received a copy earlier today. Attorney Christiansen asked the Board Members to
review the Operating Rules and Procedures and bring any questions to the next meeting for discussion.
Items that are shaded within the document are new portions,which were recently added.
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City of Clermont
MINUTES
POLICE OFFICERS RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 14,2017
ADJOURN: With no further comments,this meeting adjourned at 4:46pm.
APPROVED:
/z
"17
Chairman Scheller
ATTEST:
Tracy Ackroyd Howe,City Clerk