CITY OF PALMETTO
POLICE OFFICERS’ PENSION
BOARD OF TRUSTEES
August 26, 2019 - 11:00 A.M.
CALL TO ORDER 1103
1. AGENDA APPROVAL
Action Request: Motion to approve the August 26, 2019 Police Officers’ Pension Board agenda. Jf/mf 4-0
2. PUBLIC COMMENT
3. APPROVAL OF MINUTES
A. February 25, 2019 Disability Hearing Minutes
B. May 13, 2019 Board Minutes
Action Request: Motion to approve the minutes as provided. Mf/rw 4-0
4. APPROVAL OF EXPENSES (TAB 2)
A) Christiansen and Dehner: Invoices Dated April, May, June and July 2019
B) &CO Invoice #32465
C) Anchor Capital Advisors: Invoices Dated April 1 to June 30 2019
D) Salem Trust Invoice for April to June 2019
E) Sawgrass High Quality Core Fixed Income Invoice for Quarter Ending June 2019
F) Foster & Foster Invoice #13879
Action Request: Motion to ratify the paid expenses as presented. Jf/rl 4-0
5. PROPOSED 2020 BOARD MEETING DATES (TAB 3)
· February 24
· May 25*
· August 31
· November 30
All meetings will begin at 11:00 a.m.
*This date is Memorial Day; Attorney Christiansen’s Office has been contacted to move the date to another Monday in May or June.
Action Request: Motion to approve the 2020 Police Pension Board meeting dates. Mf/rw 4-0
6. INVESTMENT REVIEW
John Thinnes, & Co., will present the end of quarter investment review.
Quarter ended 13558845
JT discussed the performance for each manager for the quarter.
Discussion of having a more diverse all cap instead of mostly large cap.
Is fine with all managers.
Fees have increases 19500 flat fee annually. 3k increase for 3 years. Add 2 basis points to the Portfolio. 62 basis points.
addendum to the motion maker and second agree.
7. FISCAL YEAR 2019-2020 POLICE PENSION BUDGET
Based on the above discussion 22500
Action Request: Motion to adopt the fiscal year 2019-2020 Police Pension Plan Budget. Mf/jf 4-0
8. BENEFITS DISBURSEMENT APPROVAL
A. Drop Participant
· None
B. Separated Non Vested Employees
· Chris Huddleston
C. Separated Vested Employees
· None
D. Retired Employees
· None.
E. Deceased Retirees
· None
F. Deceased Active Employee Payout
· None
Action Request: Motion to approve the Benefits Disbursements as presented. Mf/rw 4-0
9. NEW MEMBER ACKNOWLEDGEMENT (Informational Only) (TAB 6)
· Donell Deleon-Thompson
· Michael DeGraeve
· Zoltan Ambrus
· Joel Hosein
10. ATTORNEY CHRISTIANSEN’S REPORT
SC-vacancy. Please get it filled. Resident.
Authorize for update to SPD.
jf/rl 4-0
Discussed status of upcoming disability hearing. Will probably need a special
11. PLAN ADMINISTRATOR’S REPORT
MF check on CPU for cppt.
12. ADJOURN1154
If any person desires to appeal any decision of the City Commission, CRA Board, or of any other Board of the City, that person will 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 (FS §286.0105).
The City of Palmetto does not discriminate on the basis of race, color, national origin, sex, religion, age, marital status or handicapped status in employment or in the provision of services. Handicapped individuals may receive special accommodation in services on forty-eight hours notice (FS §286.26). Anyone requiring reasonable accommodation for this meeting as provided for in the American with Disabilities Act should contact the City Clerk by telephone at 941-723-4570, fax 941-723-4576 or e-mail jfreeman@palmettofl.org or alarowe@palmettofl.org.
Posted and Distributed: August 21, 2019
Next Meeting Date: November 25, 2019
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