HomeMy WebLinkAbout032912 spm agm & min Sanford Police Officers` Retirement System
Susy Pita, Pension Plan Administrator •
21629 Stirling Pass • Leesburg, Florida 34748 4
Phone: 352 -787 -9795 • Fax: 352-787-2699 r
POSTED MARCH 22, 2012
NOTICE OF A SPECIAL MEETING
Thursday, March 29, 2012 at 9:00 a.m.
City Hall — Railroad Conference Room - 2n Floor
AGENDA
1. CaII to Order and Roll CaII
2. Open Discussion on Pension Issues
3. Next Regular Meeting Date: May 10, 2012 at 9:00 a.m.
4. 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 POLICE OFFICERS' RETIREMENT SYSTEM
PENSION BOARD MEETING MINUTES
Thursday, March 29, 2012 — 9:00 A.M.
1. Call to Order and Roll CaII
The meeting was called to order at 9:00 a.m. by the Chairman, Darrel Presley. The following
members were present: Bill Elliott, John Metsopoulos, and Alan Smith. Chris Collison was
excused. Caryn Simpkins, from the Finance Department, was also present.
2. Open Discussion on Pension Issues
The Trustees held an open discussion and addressed the following topics:
• Investment Performance Comparisons
• Risk vs. Yield
• Annual Funding Requirements by the City
• Plan Expenses
• Annual Rate of Return Assumptions
• Meeting Future Benefit Expectations
It was unanimously decided that the Chairman would contact the Investment Consultant, Greg
McNeillie, and request that he be prepared to provide the Board with a (similar sized) Plan -to-
Plan investment performance comparison report at the May meeting. Bill Elliott will also do
some comparisons of Investment Consultants and report his findings to the Trustees as well.
A brief discussion then took place regarding the starting time of the meetings. A few months
ago, the Fire Board switched starting times with the Police Board. Now, the Police Board would
like to switch back to the 10:30 a.m. starting time, allowing the Fire Board to begin their
meetings at 9:00 a.m. The Plan Administrator was directed to coordinate this effort and advise
the Trustees accordingly.
3. Next Meeting Date
The next regular meeting date is Thursday, May 10, 2012 (time to be determined.)
4. Adjournment
The meeting ended at 10:35 a.m.
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(for the Boar