HomeMy WebLinkAbout051508 rm agn & min Sanford Firefighters' Retirement System
Susy Pita, CPPT, Plan Administrator 1 ,4' .•
21629 Stirlin g Leesburg, • Leesbur , Florida 34748
Phone: 352 -787 -9795 ♦ Fax: 352 -787 -2699
NOTICE OF MEETING - Posted May 8, 2008
Thursday, May 15, 2008 at 9:00 a.m.
City Hall — Railroad Conference Room - 2 Floor
AGENDA
1. Call to Order and Roll CaII
2. Approval of Minutes: Regular Meeting — February 14, 2008
3. Approval of Disbursements
4. Old Business
5. Actuary's Report: (a) Cost Study Analysis
(b) Actuarial Valuation Report — 10/01/07
6. Investment Consultant's Report - Dahab
7. Investment Manager's Report — Trusco
8. Attorney's Report
9. New Business: Retirement Request — Terry Henry — April 30, 2008
10. Next Meeting Date — Thursday, August 14, 2008 at 9:00 a.m.
11. Adjournment
DISABILITY INFORMATION: In accordance with the Americans with Disabilities Act and F.S.S. 286.26, persons with disabilities
needing special accommodation to participate in this meeting should contact Susy Pita, Wan Administrator, no later than seven days
subsequent to the proceeding at 352 - 787 -9795 for assistance. If hearing impaired, call the Florida Relay Service Numbers at 800-
955- 8771 (TDD) or 800 -955 -8770 (VOICE) for assistance.
APPEAL NOTICE: If a person derides to appeal any derision made by the Board, with respect to any matter considered at such
meeting or hearing, that person will need to ensure that a verbatim record of the proceedings is made, which record indudes the
testimony and evidence upon which appeal is to be based.
SANFORD FIREFIGHTERS' RETIREMENT SYSTEM
PENSION BOARD MEETING MINUTES
THURSDAY, MAY 15, 2008 - 9:00 A.M.
1. CaII to Order and Roll Call
The meeting was called to order at 9:00 a.m. by the Chairman, Thomas Hickson. The following members
were present: Bill Kirchhoff, Craig Radzak, John Smith and Robert Vaughn. The following service
providers were also in attendance: Scott Christiansen, Plan Counsel, Blake Myton, Money Manager, and
Doug Lozen, Plan Actuary.
2. Approval of Minutes
A motion was made by John Smith to approve the minutes from the regular meeting held February 14,
2008. Seconded by Craig Radzak, the motion carried unanimously.
3. Disbursements
A motion was made by Bill Kirchhoff to approve the disbursement report. Seconded by Craig Radzak, the
motion carried unanimously. (Copy is attached for the record.)
4. Old Business
There was none.
5. Actuary's Report
Doug Lozen presented the Actuarial Valuation Report as of 10/01/07. Following a brief discussion, a
motion was made by Robert Vaughn to approve the report with the assumption changes as presented.
Seconded by John Smith, the motion carried unanimously. The Trustees decided not to discuss the COLA
cost study analysis at this time.
6. Investment Consultant's Report — Dahab Associates
Greg McNeillie was unable to attend the meeting but did provide the Dahab reports for the Trustee's.
7. Investment Manager's Report — Trusco
Blake Myton presented the quarterly report from Trusco. Total market value at March 31, 2008 was
$14,669,585.62.
8. Attorney's Report
Scott Christiansen began his report by reminding the Trustees that the Financial Disclosure Forms are
due by July 1st and provided them with a Legislative update. He went on to discuss tax qualification
issues as they are related to governmental pension plans. His firm is working with another legal firm that
specializes in tax issues. He concluded his report by informing everyone that they are in the process of
finalizing the new forms packet and we can expect to receive them soon.
9. New Business
Retirement Request — Terry Henry — Effective April, 30, 2008. Approval of his final DROP distribution will
come before the Trustees at the August meeting. The F.P.P.T.A. Conference in late June was discussed.
Those Trustees interested in attending were asked to contact the Plan Administrator so that she could
get them registered.
10. Next Meeting Date
Next regular meeting date was set for Thursday, August 14, 2008 at 9:00 a.m.
11. Adiournment
The meeting ended at 10:35 a.m.
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Thomas kson, Ch..rma
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Robert Vaughn, Secre • ry
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CITY OF SANFORD
FIREFIGHTERS' PENSION FUND
DISBURSEMENT REPORT
May 15, 2008
Date Payment Issued To: Amount
02/19/08 Foster & Foster $1,330.00
02/25/08 Christiansen & Dehner $793.04
03/24/08 Christiansen & Dehner $796.43
04/24/08 Sun Trust Bank $17,169.69