CITY OF TITUSVILLE 

POLICE AND FIRE PENSION BOARD OF TRUSTEES REGULAR MEETING

TUESDAY, NOVEMBER 21, 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

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 $2,363.26; DRZ $1,209.97; and Integrity $594.18 for quarter ending 9/30/23

2. DePrince, Race & Zollo in the amount of $17,384.00 for quarter end 9/30/23

3. Garcia Hamilton & Assoc. in the amount of $2,094.94 for quarter end 9/30/23-FINAL

4. Integrity in the amount of $4,930.77 for quarter end 9/30/23

5. Sugarman & Susskind credit in the amount of $2,464.31 dated 9/21/23

6. RBC for quarter end 9/30/23 in the amount of $20,582.67

7. Andco Consulting in the amount of $9,853.83 for quarter end 9/30/23

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

9.  Fees deducted from distribution for UBS for quarter end 9/30/23 in the amount of $2,246.57

10. Intercontinental 9/30/23 quarter end in the amount of $9,046 (deducted from distributions)

11. American Strategic Value Realty Fund for quarter end 9/30/23 in the amount of $1917.07
                    (deducted from distributions)

12. Foster & Foster dated 11/7/23 in the amount of $4,560.00

13. FPPTA Annual 2023 and 2024 CPPT recertification for Doug Baker, Desmond Russo and Tim 

      Werring $186.00 ($31 each and FPPTA Annual 2024 membership renewal $750.00

14.  Fiduciary Liability insurance renewal in the amount of 7,115.00 effective 10/1/23

                    B.  Approval of 2024 meeting schedule (February 20, May 21, August 20, November 19)

                    C.  Deposit from Kessler Topaz for litigation settlement with Treva Pharm $1075.88 and PG&E $24

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

                          Retirement:  Terminated vested Thomas Fiorito Life only Social Security option to age 64 12/1/23

                          Contribution Refunds:  After plan freeze Dustin Davis, Alan Fuller, Kaikea Funn

                        Share Plan withdrawal:  William Amos, Javier Rodriquez

                          Stop payment:  Stop payment for David Again effective 9/1/23; Frank Ross effective 10/1/23;
                           Sherill Sellers (Bert Sellers’ beneficiary) effective 9/1/23 

COLA  – Annual COLA to eligible members 10/1/2023

                    E.   Acknowledge Plan Administrator registered by the November 3 deadline with the Division of
                            Retirement to access the portal for HB 3 reporting requirement 

VIII. OLD BUSINESS

1.  Travel expense policy revision to include language “Policy supersedes any language in conflict”      effective with the policy approved 8/22/23 
2.  Update regarding portal for benefit calculations

IX. NEW BUSINESS

1. Consideration/approval of detailed accounting of paid administrative expenses

       during Fiscal Year 2022/20223 for submittal to the City and availability to Plan

       Members (and actuary for the Division of Retirement with the Annual Report)

1.  Discussion regarding Share Plan withdrawals for terminated vested/retired members and additional cost of $40 for calculation.  

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).