HomeMy WebLinkAbout121310 rm min (no agn) SANFORD FIREFIGHTERS' RETIREMENT SYSTEM
PENSION BOARD MEETING MINUTES
Monday, December 13, 2010 — 2:15 P.M.
1. CaII to Order and Roll Call
The meeting was called to order at 2:25 p.m. by the Acting Chairman, Craig Radzak. The
following members were present: Sylvester Chang, John Smith, and Robert Vaughn. Thomas
Hickson was excused. The following service providers were also in attendance: Scott
Christiansen, Plan Counsel, and Greg McNeillie, Plan Consultant.
2. International Investment Manager Search
Greg McNeillie led a discussion regarding the International Equity Manager search results that
he handed out at the last meeting. Following a lengthy review and discussion, a motion was
made by Robert Vaughn to direct Greg to set up interviews with the firms of H.L. Investment
Advisors, Manning and Napier, and State Street Global Advisors. Seconded by Sylvester Chang,
the motion carried unanimously.
The Board then took a short break and the Police Officers' Pension Board of Trustees joined
them for the special meeting.
3. Records Retention and Storage
The Administrator discussed the current issues regarding the storage and retrieval of pension
plan information. The Trustees directed her to contact the Iron Mountain Storage facility
regarding their services and related costs and to report back to them at the February meeting.
4. Review and Update Operating Rules and Procedures
The Attorney, Administrator and Trustees conducted a page -by -page review of the Operating
Rules and Procedures. Changes and updates were made and Scott will bring the new
document to the February meeting for adoption by the Board.
5. Any Other Business
Scott informed the Trustees that, since he has not heard from Irene Culbreth nor have we
received a payment from her, he has sent her another letter requesting that she comply with
the Board's request for monthly repayments of benefits she was not entitled to receive. He will
update the Trustee's again at the February meeting.
6. Next Meeting Date
Due to the International Investment Manager interviews, the next regular meeting date was set
for Thursday, February 10, 2011 at 11:00 a.m. (switching the meeting start time with the
Police Board for this meeting date only).
7. Adjournment
The meeting ended at 5:30 p.m.
6 c.,
Secretary