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Home My WebLink About060711 spm agn & min Sanford Firefighters' Retirement System Susy Pita, Pension Plan Administrator if << 21629 Stirling Pass ♦ Leesburg, Florida 34748 Phone: 352 -787 -9795 ♦ Fax: 352 -787- 2699 Posted: 06/01/11 SPECIAL MEETING NOTICE Tuesday, June 7 2011 at 9:00 a.m. City Hall — Lake Monroe Conference Room - 2 "d Floor AGENDA 1. CaII to Order and Roll Call 2. Custodian Search 3. Investment Manager(s) Search 4. Plan of Action 5. Any Other Business 6. Next Meeting Date: Regular quarterly meeting: August 11, 2011 at 9:00 a.m. 7. 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, Plan 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 decides to appeal any decision 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 includes the testimony and evidence upon which appeal is to be based. SANFORD FIREFIGHTERS' RETIREMENT SYSTEM PENSION BOARD MEETING MINUTES Tuesday, June 7, 2011 - 9:00 A.M. 1. Call to Order and Roll CaII The meeting was called to order at 9:05 a.m. by the Chairman, Tom Hickson. The following members were present: Sylvester Chang, Craig Radzak, John Smith, and Robert Vaughn. The following service providers were also in attendance: Susy Pita, Plan Administrator, and Greg McNeillie, Plan Consultant. 2. New Custodian Search At the last meeting, the Trustees decided to end their relationship with Sun Trust. The Plan Administrator and Investment Consultant discussed the different custodial services available and the related fees. Following some discussion, a motion was made by Robert Vaughn to authorize the Attorney to prepare an agreement for custodial services with Salem Trust Company as soon as administratively possible. Seconded by Sylvester Chang, the motion carried unanimously. 3. Investment Manager Search Greg McNeillie provided a handout to the Trustees regarding investment guidelines and a strategy for building a structured portfolio consisting of four to six products through the RFP process. He expected that this could be accomplished and the results presented to the Trustees at the next regular meeting (in August). 4. Plan of Action Following a lengthy discussion, a motion was made by Sylvester Chang to authorize the Investment Consultant to coordinate an RFP for five new products: Large Cap Growth, Large Cap Value, Mid Cap, Small Cap and Bonds; and to bring a short list of the potential Managers for the Trustees to review at the August meeting. Seconded by Craig Radzak, the motion carried unanimously. 5. Any Other Business A brief discussion took place regarding the separation with Sun Trust and Trustees' continued dissatisfaction with the way in which their position was presented to the Board at the last meeting. 6. Next Meeting Date The next regular meeting date will be Thursday, August 11, 2011 at 9:00 a.m. 7. Adjournment The meeting ended at 10:15 a.m. V?Vet.k (for the Board)