09-14-2005 Joint Meeting~ ~
Minutes
City of Clermont, Florida
Police OfficerslFirefighters Pension Board of Trustees Joint Meeting
September 14, 2005
Meeting started at 9:00 A.M. in the Clermont City Hall Conference Room No. 332
Police Officers trustees present were Keith Mullins, David Lofgren and Oakley Seaver.
Firefighters trustees present were Keith Mullins, Harold Cummings and Steve D'Amico.
Administrative Services Director Joe Van Zile and Florida League of Cities Paul Shamoun were also present.
Minutes of the June 7, 2005 Firefighters Pension Board Meeting were approved.
Motion by Steve D'Amico and seconded by Harold Cummings. Approved.
Minutes of the June 7, 2005 Police Officers Pension Board Meeting were approved.
Motion by David Lofgren and seconded by Oakley Seaver. Approved.
Administrative Services Director announced firefighter trustee Tom Jones had recently resigned from the City.
Mr. Jones was in a position that was elected by the firefighter plan members. Mr. Van Zile indicated he would
coordinate an election of the plan members to occupy the position before the next meeting.
Trustee Mullins asked what impact the proposed hiring of 6 police officers and possibly 12 firefighters in the
the 2005-06 fiscal year would have on the pension plans. Mr. Shamoun indicated the additional positions
would not have an effect on the plan one way or the other.
Mr. Shamoun update the trustees on the investment performance of the Florida Municipal Pension Trust Fund
for the quarter ended June 30, 2005. Mr. Shamoun concurred with trustee D'Amico that the Large Cap Equity
portion of the investment portfolio was too high. Mr. Shamoun indicated the portion would be reduced in the
next 3 to 6 months through reallocation of future contributions.
Mr. Shamoun also concurred with the trustee's view that benefit enhancements should not be addressed by
the boards during the collective bargaining process with the police and firefighter unions.
Meeting adjourned at 9:45 A.M.
Paul Anderson, Chair n
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