Police & Fire Pension Board - May 16, 2023 9:30 A.M. 

  1. Agenda

CITY OF TITUSVILLE 

 

POLICE AND FIRE PENSION BOARD OF TRUSTEES REGULAR MEETING

TUESDAY, MAY 16, 2023, 9:30 A.M.

 CITY HALL COUNCIL CHAMBER, 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

II. 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 $2455.58; Garcia Hamilton $269.94; DRZ

 $1,226.89; and Integrity $611.02 for quarter ending 3/31/23

2. DePrince, Race & Zollo in the amount of $17,695.00 for quarter end 3/31/23

3. Garcia Hamilton & Assoc. in the amount of $2,201.19 for quarter end 3/31/23

4. Integrity in the amount of $5,015.86 for quarter end 3/31/23

5. Sugarman & Susskind in the amount of $6,571.34 dated 4/6/23

6. RBC for quarter end 3/31/23 in the amount of $19,450.42

7. Andco Consulting in the amount of $9,853.83 for quarter end 3/31/22

8. Administrative fee for Plan Administrator $2926.32 monthly (auto debit)

9. Fees deducted from distribution for UBS for quarter end 3/31/23 in the amount of $3,320.70

10. Intercontinental 3/31/23 quarter end in the amount of $8,695 (deducted from distributions)

11. American Realty Strategic Value Fund 3/31/23 in amount of $985.89 (deducted from fund)

12. Foster & Foster dated 5/3/23 in the amount of $4,969.00

                    B.  Next meeting scheduled for August 22

                    C.  Deposit from Principal Financial Group from reserves in the amount of $2,915.00

                    D.  Elected term for Police member Tyler Wright unopposed

                    E.   Approval to attend FPPTA Conference June 26-28, 2023

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

                          Retirement:  Terminated vested member Robert Kelly Life annuity with 10 year certain 1/1/23

                          Contribution Refunds:  After plan freeze only:  Michael Lamarine, Dylan Brige                       

                          Share Account:  Distribution to Thomas Duncan

VIII. OLD BUSINESS

  1. Approval of Summary Plan Description update
  2. Update regarding proposed Ordinance language for salary used in average final compensation

IX. NEW BUSINESS

    Approval of addendum to portfolio monitoring services agreement


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).