General Employees' Pension Board - May 16, 2023

  1. Agenda

  CITY OF TITUSVILLE

GENERAL EMPLOYEES’ BOARD OF TRUSTEES REGULAR MEETING

TUESDAY, MAY 16, 2023, 1:00 P.M.

COUNCIL CHAMBER CITY HALL, 555 S. WASHINGTON AVE, TITUSVILLE, FL 32796

 

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.

 

I. CALL TO ORDER

II. DETERMINATION OF A QUORUM 

III. APPROVAL OF MINUTES

IV. INVESTMENT PRESENTATIONS/REPORTS

Review of quarterly investment performance by &CO Consulting


V. REQUESTS FROM THE PUBLIC/EMPLOYEES PRESENT 

VI. OFFICER AND MEMBER REPORTS

VII. STAFF REPORT    

  1. Approval of expenses:

A.  Fifth Third Bank for the following accounts:  R&D $2,406.09; Integrity $582.22; TIPS $102.21; Brandy $1201.98 for quarter end 3/31/23

B.  Brandywine for quarter end 12/31/22 in the amount of $17,619.28

C.  Integrity in the amount of $4,700.76 & TIPS in the amount of $485.57 for quarter end 3/31/23

D.  RBC Global for quarter end 3/31/23 in the amount of $18,688.12

E.  Sugarman & Susskind in the amount of $1,502.80 dated 4/6/23

F.  &Co Consulting in the amount of $9,853.83 for quarter ending 3/31/23

G.  American Realty Advisors in the amount of $4,009.82 for quarter ending 3/31/23 (deducted from distributions)

H. Administrative fee for Plan Administrator $3601.62 monthly (automatic debit) 

I.  Intercontinental quarterly fees 3/31/23 (deducted from distributions) $8,732

J. Foster & Foster dated 5/3/23 in the amount of $2,469.00 

K. Deposit for payment of buy-in calculation in the amount of $300.

N. Next meeting date is August 22

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

Retirement(s): Mariana Hristova effective 2/1/23 50% Joint Annuitant; Rufus Edmonson effective 2/1/23 50% Joint Annuitant; Candace Fowler effective 4/1/22 75% Joint & Survivor; Kenneth Scott Selph effective 4/1/23 Ten Year Certain & Life; Terminated vested member Charles Bogle effective 3/1/23 100% Joint Annuitant; Change from EP Shepherd to 50% Joint Annuitant Tommie Shepherd 5/1/23 

Contribution refund(s):  After plan freeze:  David Smoot;Jeffrey Mains; Trayvon Myles; Wallace Fairweather; Dylan Hatina; Amanda Coleman; Ronlad Crosslin; Terrance Eaddy; Lisa Nicholas; Daniel Alonso; Kenneth Kelley; Akimba Niles

Stop payment:  Joseph Brubaker 4/1/23; Evelyn Haynes 3/1/23; Cheryl Speis Drake 4/1/23 

VIII. OLD BUSINESS

  1. Approval of Summary Plan Description update
  2. Update regarding Ordinance language for salaries and portal set up

IX. NEW BUSINESS

Approval of addendum to portfolio monitoring service

X. ATTORNEY’S REPORT

Legislative Update

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).