Police & Fire Pension Board - November 16, 2021

CITY OF TITUSVILLE 

POLICE AND FIRE PENSION BOARD OF TRUSTEES REGULAR MEETING

TUESDAY, NOVEMBER 16, 2021, 9:30 A.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.

I.  CALL TO ORDER

II. DETERMINATION OF A QUORUM

III. APPROVAL OF MINUTES

IV. INVESTMENT PRESENTATIONS/REPORTS

Andco review quarterly performance

V. PUBLIC/EMPLOYEES PRESENT

VI. OFFICER AND MEMBER REPORT  

VII. STAFF REPORT 

1. Approval of invoices/expenses as follows:

1.  Fifth Third Bank for the following accounts:  R&D $3,246.38; Garcia Hamilton $267.52; DRZ

 $1,182.69; and Integrity $671.81 for quarter ending 9/30/21

2.  DePrince, Race & Zollo in the amount of $16,897.00 for quarter end 9/30/21

3.  Garcia Hamilton & Assoc. in the amount of $2,335.20 for quarter end 9/30/21

4.  Integrity in the amount of $5,550.63 for quarter end 9/30/21

5.  Sugarman & Susskind in the amount of $11,985.00 dated 10/25/21

6.  RBC for quarter end 9/30/21 in the amount of $21,304.34

7.  Andco Consulting in the amount of $9,288.18 for quarter end 9/30/21

8.  Administrative fee for Plan Administrator $2758.34 monthly (auto debit)

9.  Fees deducted from distribution for UBS in the amount of $3,266.06 for quarter 9/30/21

10. Intercontinental 9/30/21 quarter end in the amount of $8,345 (deducted from distributions)

 11. Fiduciary Liability Insurance annual renewal in the amount of $7,015.

 12. FPPTA Trustee School October 2021 Jermaine McKoy $1553 and Timothy Werring $1394.

 13. FPPTA 2022 Annual Membership renewal $750 

 14. FPPTA 2022 CPPT Recertification for Doug Baker, Desmond Russo and Tim Werring $93

 15. Foster & Foster dated 11/8/21 in the amount of $4,480.91

                     B.  Acknowledge/approval of retirements/contribution refunds/buy-in/stop payments for the following:

                          Retirements:  Michael Lindo 9/1/2021 Life only; Javier Rodriguez Board approved
                           disability 8/17/21 50% Joint Annuitant

                          Contribution refunds:  DeVoss   Stop payment: Charles Freed 7/1/21 (unable to reach 100%
                          Joint Annuitant-no response phone and letter)

                          COLA  – Annual COLA to eligible member 10/1/2021

                    C.   Submitted approved pension budget to City and members 

                    D.  Deposit in the amount of $11.43, $72.55, $64.40, $2514.50 from securities litigation settlements
                           and $200 from member for Actuary to calculate divorce information 

                    E.  Acknowledge fund transfer in the amount of $2,500,000 8/23/21 from DRZ to Fidelity Bond

                    F.  Acknowledge receipt of State money $397,782.52 (Police) $394,268.35 (Fire) 8/19/21

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

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

IX. NEW BUSINESS

      Consideration/approval of detailed accounting of paid administrative expenses during Fiscal Year 2020/2021 for submittal to    the City and availability to Plan Members (and actuary for the Division of Retirement with the Annual 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).