12-14-17 Retirement Plan Board City of Clermont
MINUTES
FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 14,2017
The Firefighters Retirement Plan Board of Trustees met in a regular meeting on Thursday,December 14,
2017 in the Council Chambers at City Hall. Firefighters' trustees present: Judd Lent, Jim Purvis, and Sy
Holzman. Attorney Jensen was present via telephone conference call. 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 Members Ryan Moore and Adam Watkins were absent.
CALL TO ORDER
Chairman Lent called the meeting to order at 1:30pm.
PUBLIC COMMENT
Chairman Lent opened public comments. There were no public comments. Chairman Lent closed public
comments.
APPROVAL OF MINUTES
Approval of minutes of the September 14, 2017 Fire Pension Board Meeting
Board Member Purvis moved for approval: seconded by Board Member Holzman. The
motion passed unanimously.
UNFINISHED BUSINESS
Discussion of Pension Plan Performance 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 Request to Change Share Plan Distribution Method
Finance Director Van Zile distributed a memorandum for discussion.
Attorney Jensen stated according to Florida Statute 175.351 the Pension Board is mandated to create a
shared account. The mutual consent will be determined based on the collective bargaining between the
City and Union. The creation of the Share Accounts and the use of the accumulated unused money were
both agreed to in collective bargaining. In response to Mr. Anderson's request, he is not eligible to
participate in the Share Plan since he is no longer an active employee.
Chairman Lent asked Attorney Jensen for clarification in the case the decision is appealed. Attorney
Jensen clarified that the decision would stay the same per the current rules and regulations unless new
information is provided stating otherwise.
1
City of Clermont
MINUTES
FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 14,2017
Board Member Purvis moved for Attorney Jensen to generate a denial letter to Chief
Anderson and to provide a copy to the board at a time which is convenient: seconded by
Board Member Holzman.The motion passed unanimously.
Discussion of Trustee Elections and Appointments
Finance Director Van Zile noted the Trustees Adam Watkins&Judd Lent were reelected by the Fire Plan
Members for another two-year term. On Tuesday, December 12, 2017 the City Council reappointed Jim
Purvis and Sy Holzman for another two years however Holzman has expressed his desire to not serve
another two-year term. In response, Board Member Holzman recommends John Fricker for the board.
Board Member Ryan Moore's term is scheduled to expire April of next year.
Board Member Purvis inquired if the Pension Board should have two members every two years or should
terms be staggered. Attorney Jensen recommended a staggered expiration of terms.
Chairman Lent asked Attorney Jensen on the options available to stagger the terms. Attorney Jensen
replied the terms can be staggered by Ordinance or to have someone resign in the middle of their term.
NEW BUSINESS
Approval of Firefighters Pension Plan Actual Expenses-FY 2017
Finance Director Van Zile presented the previous fiscal year's budget and actual expenses.
Board Member Holzman moved to approve; seconded by Chairman Lent. The motion
passed unanimously.
Approval of 2018 Meeting Dates
Finance Director Van Zile presented the proposed meeting dates for the year 2018.
Chairman Lent stated he would not be able to make the meeting set for February 14th. Attorney Jensen
recommended moving the meeting to February 16th at 11:00 AM. Chairman Lent expressed his approval
of the new suggested date.
Board Member Purvis motioned to approve proposed meeting dates as amended;
seconded by Holzman.The motion passed unanimously.
BILLS AND EXPENSES
Approval of Plan Quarterly Expenses
Finance Director Van Zile presented the quarterly expenses for approval.
Board Member Purvis moved to approve the quarterly expenses: seconded by Chairman
Lent.The motion passed unanimously.
2
City of Clermont
MINUTES
FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 14,2017
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 the DROP Participants will be on February's agenda,however,there are
no DROP participants at this time.
PLAN ADMINISTRATOR REPORT
Discussion of Investment Performance Report for Quarter Ending September 30,
2017.
Mr.Jeremy Langley presented the performance report for the quarter ending on September 30,2017.
Board Member Purvis inquired how quickly the League of Cities could react to the market should a crash
or drop happen. Mr. Langley replied they have the ability to move quickly but typically, they would not
choose to do so depending on the situation as a quick move could significantly contribute to the loss
suffered by the Board.
ATTORNEY REPORT
Attorney Jensen referred to memorandum regarding Federal, State, and Local Death Benefits. Funeral
benefits are only offered for police officers. Educational benefits are available but will not be processed
until the eligibility has cleared. Attorney Jensen noted the $300,000 lump sum benefit mentioned in the
memorandum is Federal money and not provided through the State.
Attorney Jensen stressed the importance of documenting any attempt to contact and return money from
the plan to those who have retired or left the City's employment. Board Member Purvis inquired if a
person's estate could collect the money in the event of a firefighter's passing. Attorney Jensen clarified
the plan does allow the estate to collect as a beneficiary.
Attorney Jensen stated the firefighter's funds have decreased across the State of Florida due to insurance
premiums rising and more firefighters being entitled to the educational fund.Attorney Jensen clarified the
issues are an ongoing issue but there should not be a giant decrease again in the near future.
Chairman Lent stated his desire to have the attorney memorandum regarding death benefits passed out to
all of the plan members.
OATH OF OFFICE
Deputy City Clerk Zinker administered the Oath of Office to Jim Purvis.
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City of Clermont
MINUTES
FIREFIGHTER RETIREMENT PLAN BOARD OF TRUSTEES MEETING
December 14, 2017
ADJOURN: With no further comments, this meeting adjourned at 2:38pm.
APPROVED:
firman Judd Lent
ATTEST:
wt. ; Tracy Ackroyd Howe,City Clerk.
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