General Employees' Pension Board - August 22, 2023 1:00 P.M.

  1. Agenda

CITY OF TITUSVILLE

GENERAL EMPLOYEES’ BOARD OF TRUSTEES REGULAR MEETING

TUESDAY, AUGUST 22, 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 $2,571.44; Integrity $575.90; TIPS $100.52; Brandy $1232.56 for quarter end 6/30/23

B.  Brandywine for quarter end 6/30/23 

C.  Integrity in the amount of $4,745.54 & TIPS in the amount of $492.89 for quarter end 6/30/23

D.  RBC Global for quarter end 6/30/23 in the amount of $18,819.03

E.  Sugarman & Susskind in the amount of $2,475.20 dated 6/8/23

F.  &Co Consulting in the amount of $9,853.83 for quarter ending 6/30/23

G.  American Realty Advisors in the amount of $3910.05 for quarter ending 6/30/23 (deducted from distributions)

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

I.  Intercontinental quarterly fees 6/30/23 (deducted from distributions) $8,918

J. Foster & Foster dated 8/11/23 in the amount of $19,900.00 and dated 7/25/23 in the amount of $14,275.00 

K. Deposit for Kessler Topaz settlement deposit for JP Morgan in the amount of $3.77 and BNYM ADR in the amount of $1.93

L. Next meeting date is November 21

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

Retirement(s): Victor Rodriguez (early) effective 6/1/23 Life Only

DROP:  Brenda Evans 50% Joint Annuitant effective 4/1/23 and Thomas Abbate Social Security Option to age 64 effective 2/1/23

Contribution refund(s):  After plan freeze:  Rachel Muller, Sammie Martin, Lisa Morrison, Garrett Bradley, Michelle Walker, Daniel Sargeant, Joel Miller, Terry Ange Jr., Allison Jones, Brian Webber, Jermain Wright 

Stop payment:  Patricia McCain 8/1/23 


VIII. OLD BUSINESS

Update regarding Ordinance language for salaries used in average final compensation and DROP distribution language

IX. NEW BUSINESS

  1. Approval for attorney to revise Ordinance in accordance with union negotiated changes to pension and for Actuary to prepare Impact Statement
  2. Review/approval of Travel Expense Policy
  3. Term of office expiring for Ashley Byrne – confirm consideration of additional term to City Clerk

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).