General Employees' Pension Board - November 16, 2021

  1. Agenda

  CITY OF TITUSVILLE

GENERAL EMPLOYEES’ BOARD OF TRUSTEES REGULAR MEETING

TUESDAY, NOVEMBER 16, 2021, 1:00 P.M.

FIRE DEPARTMENT HEADQUARTERS

Any person who decides to appeal any decision of the Pension Board with respect to any matter considered at this meeting will need a record of the proceedings, and for such purpose, may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based.  In accordance with the Americans with Disabilities Act and Section 286.26, Florida Statutes, persons with disabilities needing special accommodations to participate in this meeting should call the City Clerk’s Office, 567-3775, at least 24 hours prior to the meeting.

  1. CALL TO ORDER
  2. DETERMINATION OF A QUORUM 
  3. APPROVAL OF MINUTES
  4. INVESTMENT PRESENTATIONS/REPORTS

       Review of quarterly investment performance by &CO Consulting

    V. REQUESTS FROM THE PUBLIC/EMPLOYEES PRESENT 

    VI. OFFICER AND MEMBER REPORTS

  VIII, STAFF REPORT    

  1. Approval of expenses:

A.  Fifth Third Bank for the following accounts:  R&D $2,923.95; Integrity $622.09; TIPS $308.61; Anchor $1,138.47 for quarter end 9/30/21

B.  Anchor Capital for quarter end 9/30/21 in the amount of $21,677.64

C.  Integrity in the amount of $5,104.33 & TIPS in the amount of $1,494.21 for quarter end 6/30/21

D.  RBC Global for quarter end 9/30/21 in the amount of $20,024.40

E.  Sugarman & Susskind in the amount of $1,360.00 dated 10/25/21

F.  &Co Consulting in the amount of $9,288.18 for quarter ending 9/30/21 

G.  American Realty Advisors in the amount of $3,542.79 for quarter ending 9/30/21 (deducted from distributions)

H. Administrative fee for Plan Administrator $3394.88 monthly (automatic debit) 

I.  Intercontinental quarterly fees 9/30/21 (deducted from distributions) in the amount of $8,292

J.  Foster & Foster dated 11/9/21 in the amount of $2,940.91

K. Fiduciary Liability insurance annual renewal in the amount of $7994.00

L. FPPTA 2022 membership renewal in the amount of $750.00

M.FPPTA CPPT recertification fee $124.00 (2021 and 2022) Stan Retz and Connie Rose

N. FPPTA Virtual Fall Trustee registration Connie Rose $750 and Julie Enright $750

    2.    Approval/Acknowledgement of the retirements/contribution refunds/buy-in/stop payments:

Retirement(s):  Javier Rodriguez, 50% Joint Annuitant 9/1/21 (early); Bonnie Johnson Life only 10/1/2021  

Contribution refund(s): After Plan benefits only:  Christopher Runkey (forfeit after plan freeze pension benefit-keep before plan freeze) $7,034.77; after plan freeze only Sharon Edney $3,206.58

Stop Benefit:  Philip Reno 7/1/21 and initiate remainder of 10 year certain to Robin Wells – stopped benefit effective 9/30/21

DROP:  Joseph Denaro 10/1/21 Life only

  3.    Deposit in the amount of $37.17 and $25.00 for litigation settlements

   4.    Acknowledge fund transfer of $400,000 to meet funding requirements for monthly disbursements

   5.    Approval of 2022 meeting schedule 2/15, 5/17, 8/16, 11/22 – Discuss attorney virtual attendance

   6.    Appointment of Fifth member to the Board.  Stan Retz term expiring 11/30/21.  Member Retz
                                  agreed to be considered for additional term. 

   7.    Member Tolbert’s term expires 11/30/21.  Council appointed position-Member Tolbert agreed to
                                  serve an additional term. 

VIII.  OLD BUSINESS 

         Update regarding salaries used for benefit calculation, Ordinance language for salaries and benefit portal 

IX.   NEW BUSINESS 

X.    ATTORNEY’S REPORT

 

NOTE:    If you are not a Trustee of the Pension Board, your absence from work must be charged to vacation or compensatory time.  Your attendance will not be compensated (per Personnel Policies 6.02).