HomeMy WebLinkAbout110807 rm agn & min AGENDA
MEETING OF THE BOARD OF TRUSTEES
CITY OF SANFORD FIRE FIGHTERS' RETIREMENT SYSTEM
NOVEMBER 8, 2007, AT 9:00 A.M.
IN THE LAKE MONROE CONFERENCE ROOM
AT THE CITY HALL
CITY OF SANFORD, SANFORD FLORIDA
I. Call to order
II. Approval of Minutes
a) August 9, 2007
III. Dahab
IV. Trusco
V. Approval of Payments
a) Christiansen & Dehner $ 703.90
b) FPPTA $ 2,250.00
c) Dahab Associates $ 1,896.94
d) Florida Municipal Insurance Trust $ 4,450.06
e) Christiansen & Dehner $ 442.16
f) FPPTA $ 450.00
g) Foster & Foster $ 2,479.00
h) FPPTA $ 800.00
i) Robert E. Vaughn $ 108.00
j) John C. Smith $ 263.75
k) PGA National Resort & Spa $ 990.00
VI. Return of Contributions
a) Travis Reynolds $ 5,563.55
b) Heather Burnett $ 15,140.66
VII. Foster & Foster Contract Signatures
VIII. Scott Christiansen — Legal Issues
IX. Other Business
ADVISE TO THE PUBLIC: If a person decides to appeal a decision made with respect to any matter
considered at the above meeting of hearing, he may need a verbatim record of the proceedings, including the
testimony and evidence, which record is not provided by the City of Sanford (FS 286.0105)
Persons with disabilities needing assistance to participate in any of these proceedings should contact the
Personnel Office ADA Coordinator at (407) 330 -5626, forty -eight hours in advance of meeting.
MINUTES
Meeting of the Board of Trustees
City of Sanford Firefighters' Retirement System
November 8, 2007, at 9:00 A.M.
Lake Monroe Conference Room
City Hall, Sanford, Florida
Members Present:
Hickson, Trustee
Bill Kirchhoff, Trustee
John Smith, Trustee
Robert Vaughn, Trustee
Craig Radzak, Trustee
Others in Attendance:
Jim Poulalion, Finance Director
Sarah Battles, Administrative Assistant
Scott Christiansen, Christiansen & Dehner
Greg McNeillie, Dahab, Inc.
Blake Myton, Trusco
Mr. Hickson called the meeting to order at 9 :03 a.m.
Mr. Hickson asked for a motion to approve the Minutes for the August 9, 2007 meeting.
Mr. Vaughn made a motion, and Mr. Smith seconded the motion. Motion carried.
Mr. McNeillie with Dahab gave the investment manager's report.
Mr. Myton with Trusco gave the quarterly report.
Mr. Hickson asked for a motion to approve the payments to the following:
1.) Christiansen & Dehner $ 703.90
2.) FPPTA $ 2,250.00
3.) Dahab Associates $ 1,896.94
4.) Florida Municipal Insurance Trust $ 4,450.06
5.) Christiansen & Dehner $ 442.16
6.) FPPTA $ 450.00
7.) Foster & Foster $ 2,479.00
8.) FPPTA $ 800.00
9.) Robert E. Vaughn $ 108.00
10.) John C. Smith $ 263.75
11.) PGA National Resort & Spa $ 990.00
Mr. Hickson asked for a motion to approve the payments. Mr. Vaughn made the motion
and Mr. Smith seconded the motion and motion carried.
Mr. Hickson asked for a motion to approve the following return of contributions:
1.) Travis Reynolds $ 5,563.55
2.) Heather Burnett $15,140.66
Mr. Smith made the motion and Mr. Vaughn seconded the motion and motion carried.
Mr. Hickson signed the Foster & Foster Contract and distributed to Ms. Battles and Mr.
Christiansen.
Mr. Christiansen discussed the terms for Mr. Hickson and asked Ms. Battles to check
with the Clerk's office to verify the term status and limit, etc.
Mr. Christiansen asked Ms. Battles what the status was on the proposed Ordinance. Ms.
Battles informed Mr. Christiansen and the Board that Patrick with Foster and Foster was
reviewing the proposed Ordinance for financial impact to the plan and then it could be
presented to the Commission for approval and signature.
Mr. Christiansen informed the Board that they would need to re -elect officers at the next
meeting.
Mr. Christiansen informed the Board that the Summary Plan Description was last revised
in January of 2006 and that the Plan would need to be updated and approved at the next
meeting.
Mr. Christiansen informed Ms. Battles that the Board needed to report to the Commission
a list of all of the assets and that we could use Dahab's report and use Pension Letter #2.
Mr. Christiansen discussed the pre -tax plan where the Police and Fire plans can claim up
to $3000 a year. Mr. Christiansen notified the Board that he would be sending out
packets with instructions from the IRS on how to file, etc. The retirees would need to
sign a form which Mr. Christiansen would prepare as well as a form for the City to sign.
Mr. Smith discussed Susy Pita "coming on board" and becoming the Fire Pension Plan
Administrator. Mr. Christiansen explained to the Board what here duties would be. Mr.
Smith made a motion to hire Susy Pita and Mr. Vaughn seconded the motion and motion
passed. Mr. Smith made a motion to authorize Mr. Christiansen to draw up an agreement
to mimic the Police agreement for Ms. Pita and to authorize the Chairman and Secretary
of the Board to sign the agreement effective immediately. Mr. Kirchhoff seconded the
motion and motion passed.
Mr. Poulalion requested that Foster & Foster conduct a Cost Study Impact Analysis providing
for a COLA to the retiree's. The City has agreed to pay for the study. A brief discussion ensued.
A motion was made by Craig Radzak to authorize the Actuary to perform the requested study
with the agreement that the City will reimburse the Plan for the invoiced fee. Seconded by John
Smith, the motion carried unanimously.
There being no other business to come before the Board, the pension meeting was adjourned at
10:25 a.m.
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Thomas Hickson, Chairman Robert Vaughn, Secretary