CITY OF PORT ORANGE

FIRE AND RESCUE PENSION BOARD OF TRUSTEES QUARTERLY MEETING

CITY HALL COUNCIL CHAMBERS

PORT ORANGE, FLORIDA  32129

REVISED AGENDA

Monday, November 21, 2011, 7:00 P.M.

 

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 Board Secretary Dominick Leone at the Fire Department Headquarters, 386-506-5900, at least 24 hours prior to the meeting.

 

I.                                       CALL TO ORDER/DETERMINATION OF A QUORUM

 

II.                                    APPROVAL OF MINUTES - Quarterly Meeting - August 22, 2011

 

III.                                 MANAGER PRESENTATIONS

SSI - Emily Collela

American Realty - Richelle Hayes

 

   IV.                REPORTS (ATTORNEY/CONSULTANTS)

                        1.   Patrick Donlan, Foster & Foster, Actuary

·         2011 Valuation 

·         Declaration of returns

                        2.   Burgess Chambers, Performance Monitor

                        3.   Scott Christiansen, Attorney

4.      Sheila Hutcheson, Plan Administrator

·         Terms of elected Trustee Rick Gherlone, Fifth Member Frank Sheridan, and appointed Trustee Bob Pohlmann end on 12/31/11.  Chairman Bastian retires on Jan. 4, 2012. An election will be coordinated for the two elected positions and the City Council considers appointments in January, 2012.

·         Consideration of Fifth Member Appointment

·         2012 meeting dates: February 21, May 21, August 20, November 19 (7:00 p.m.)

·         Letter to City transmitting FY10/11 report of investment activity

·         Fee schedule - $1,500/month effective with payment on January 1, 2012

                       

V.                          NEW BUSINESS

 

 VI.                  OLD BUSINESS

 

VII.                  DISBURSEMENTS/RETURN OF CONTRIBUTIONS and DEPOSITS

·         DISBURSEMENTS

1.         Sheila Hutcheson, Professional Services - $3,300.00 (administration fees)

2.         Christiansen & Dehner, Professional Services - $2,661.27; $341.25

                       3.     PNC Asset Management, quarterly fee, 4th quarter, 2011 - $11,352.91

4.     Burgess Chambers, Performance Monitor - 4th quarter, 2011 - $7,780.00

                          6.     PNC, quarterly fee, 4th quarter, 2011 - $602.10

                        7.     Foster & Foster, actuarial services - $5,006.00

                        8.     City of Port Orange - audit fees reimbursement - $4,591.25

                          9.     J.W. Edens Insurance Agency - pension fiduciary insurance renewal -$3,687.65

                       10.     Bill Vola, terminated, vested member’s commencement of normal retirement on  

 

 

CITY OF PORT ORANGE

FIRE AND RESCUE PENSION BOARD OF TRUSTEES QUARTERLY MEETING

     PORT ORANGE CITY HALL

1000 City Center Circle, Second Floor Conference Room

PORT ORANGE, FLORIDA  32129

AGENDA

Monday, November 21, 2011, 7:00 P.M.

 

                                         Page 2

 

 

                                  November 1, 2011 - lifetime with 100% joint survivor (spouse) - $589.28/month

                        11.     Processed FY 11/12 COLA increases for retirees

·         DEPOSITS

·         2010 Premium Tax Distribution - $231,898.80  (2009: $264,108.66)

·         Firefighters’ Supplemental Compensation Trust Fund - $58,561.46 (2009: $42,607.20)

·         Waiver of recourse endorsement (pension fiduciary insurance): reimbursement by City - $125.00

 

        VIII.        STAFF REPORTS, DISCUSSION, AND ACTION

 

           IX.        TRUSTEES’ REPORTS, DISCUSSION, AND ACTION

 

            X.          REQUESTS FROM THE PUBLIC/EMPLOYEES PRESENT

 

           XI.         ADJOURNMENT