General Employees' Pension Board - May 18, 2021

  1. Agenda

  CITY OF TITUSVILLE

GENERAL EMPLOYEES’ BOARD OF TRUSTEES REGULAR MEETING

TUESDAY, MAY 18, 2021, 1:00 P.M.

COUNCIL CHAMBER CITY HALL

 

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.

 

  1. CALL TO ORDER

  2. DETERMINATION OF A QUORUM 

  3. APPROVAL OF MINUTES

  4. INVESTMENT PRESENTATIONS/REPORTS

                              Review of quarterly investment performance by &CO Consulting

  5. REQUESTS FROM THE PUBLIC/EMPLOYEES PRESENT 

  6. OFFICER AND MEMBER REPORTS

  7. STAFF REPORT    

  1. Approval of expenses:

    A.  Fifth Third Bank for the following accounts:  R&D $2,779.35; Integrity $543.83; TIPS $297.62; Anchor $1098.13 for quarter end 3/31/21

    B.  Anchor Capital for quarter end 3/31/21 in the amount of $21,372.54  

    C.  Integrity in the amount of $4,242.98 & TIPS in the amount of $1090.94 for quarter end 3/31/21

    D.  RBC Global for quarter end 3/31/21 in the amount of $18,982.17

    E.  Sugarman & Susskind in the amount of $1,190.00 dated 3/11/21

    F.  &Co Consulting in the amount of $9,288.18 for quarter ending 3/31/21 

    G.  American Realty Advisors in the amount of $3,242.14 for quarter ending 3/31/21 (deducted from distributions)

    H. Administrative fee for Plan Administrator $3394.88 monthly (automatic debit) 

    I.  Intercontinental quarterly fees 3/31/21 (deducted from distributions) in the amount of $7,880

    J.  Foster & Foster dated 3/24/21 in the amount of $32,278.00

    K. FPPTA Advanced certification course Connie Rose $450 4/7/21 (obtained CPPT certification)

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

    Retirement(s):  Terminated vested members:  Albert Brown, 15-year certain with 10% PLOP 3/1/21; Mark Whorton (Before Plan freeze benefit only) 100% Joint Annuitant 11/1/20  

    Contribution refund(s): After Plan benefits only:  Anthony Nunez, Ezekiel DeVoss, Dennis Johnson, Michael Albert, Meridy McCann 

    Drop:  William Hughes 4/1/21 and Curtis Lehmann 4/1/21

    Stop Benefit:  Pat Boggs 4/17/21, initiate 100% Joint Annuitant benefit to David Boggs 5/1/21 and 

    stop payment for Marie Mion 6/1/2021

                             3.    Submitted declared rate of return to City and State

                             4.    Deposit in the amount of $1,659.08 for securities litigation settlement from MF Global Holdings

                             5.    FPPTA Conference June 27-30 – acknowledgement of any board members/Plan Administrator
                                     attendance in accordance with policy guidelines

                             6.    Next meeting scheduled for August 17

  1. OLD BUSINESS - None

  2. NEW BUSINESS

                   Presentation by Doug Lozen, Foster & Foster of study regarding assumed rate of return 

  3. 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).