HomeMy WebLinkAbout020807 rm min (no agenda) MINUTES
Meeting of the Board of Trustees
City of Sanford Police Officers' Retirement System
February 8, 2007 at 10:30 A.M.
Railroad Depot Room
City Hall, Sanford, Florida
Members Present
Chief Brian Tooley, Vice - Chairman
Sergeant Mike Taylor, Trustee
Bill Kirchhoff Trustee
Officer Nigel Price, Trustee
Others in Attendance
Puggy Johnson, Finance Manager
Sarah Battles, Administrative Assistant to Finance
Scott Christiansen, Christiansen & Delmer
Greg McNeillie, Dahab Associates, Inc.
Lynn Skinner, Salem Trust
Shelia Hutcheson
Susy Pita
Mr. Presley called the meeting to order at 11:00 A.M.
Mr. Tooley asked for a motion to approve the Minutes from the November 10, 2006
meeting. Mr. Taylor made a motion to approve the Minutes of November 10, 2006.
Motion seconded by Mr. Kirchhoff and motion passed.
Commission approved the re- election of Mr. Kirchhoff.
Mr. Price was sworn in by the City Clerk.
Mr. McNeillie gave an overview of Dahab's performance review.
Shelia Hutcheson gave her presentation as to why she should be hired as the plan
administrator for the Police Pension Board. Ms. Hutcheson knows the "workings" of a
city and has worked with Mr. Christiansen for a number of years.
Susy Pita gave her presentation as to why she should be hired as the plan administrator
for the Police Pension Board. Ms. Pita has worked with Mr. Christiansen for a number of
years and has a lot of fresh ideas and enthusiasm to bring to the table.
The board deliberated and Mr. Tooley made a motion to hire Ms. Pita and Mr. Price
seconded the motion and motion carried.
Police Pension Board
February 20, 2007
Page Two
Mr. Tooley made a motion to authorize Mr. Christiansen to draft an agreement for Ms.
Pita and Mr. Price seconded the motion and motion carried.
Mr. Christiansen discussed the rate change for Christiansen & Dehner. Mr. Tooley made
a motion to approve the rate change. Mr. Kirchhoff seconded the motion and motion
passed.
Mr. Christiansen discussed the new House Bill #3 regarding the 10% limitation of
distribution of international equity, and how they are proposing to change the percentage
to 20%.
Mr. Christiansen also discussed pre -tax for insurance for retirees which does not apply to
the City of Sanford because we are a self aid medical plan. This is affecting many people
and is being taken back to Congress to receive an exception to the rule.
Mr. Christiansen introduced the PLOP retirement Election which would be a partial lump
sum option. So, you could elect to receive the partial lump sum and then the remainder
of your contributions would be calculated and you would receive a lower monthly
amount.
There being no other business, the meeting was adjourned at 12:30 p.m.
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Brian Tooley Mi ael A. Taylor
Vice Chairman Secretary