CITY OF TITUSVILLE 

POLICE AND FIRE PENSION BOARD OF TRUSTEES REGULAR MEETING

TUESDAY, NOVEMBER 22, 2022, 9:30 A.M.

 FIRE DEPARTMENT TRAINING ROOM

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 

    A. Approval of invoices/expenses as follows:\

1. Fifth Third Bank for the following accounts:  R&D $2336.79; Garcia Hamilton $257.51; DRZ $1,082.35; and Integrity $592.36 for quarter ending 9/30/22
2. DePrince, Race & Zollo in the amount of $15,617 for quarter end 9/30/22
3. Garcia Hamilton & Assoc. in the amount of $2,090.45 for quarter end 9/30/22
4. Integrity in the amount of $5,090.50 for quarter end 9/30/22
5. Sugarman & Susskind in the amount of $15,765.55 dated 11/10/22
6. RBC for quarter end 9/30/22 in the amount of $17,201.00
7. Andco Consulting in the amount of $9,566.82 for quarter end 9/30/22
8. Administrative fee for Plan Administrator $2841.09 monthly (auto debit)
9. Fees deducted from distribution for UBS for quarter end 9/30/22 in the amount of $2,842.48
10. Intercontinental 9/30/22 quarter end in the amount of $8,731.00 (deducted from distributions)
11. Foster & Foster dated 11/2/22 in the amount of $7,530.00
12. FPPTA Annual 2023 CPPT recertification for Doug Baker, Desmond Russo and Tim Werring In the amount of $93.00 ($31 each) 
13. FPPTA Annual 2023 membership renewal in the amount of $750.00
14. Fiduciary Liability insurance renewal in the amount of $7,115.00 effective 10/1/22
15. Ryan Hall, M.D. for IME on Jason Hanson dated 8/12/22 in the amount of $3,666.60
16. Approval of 2023 meeting schedule as follows: February 21, May 16, August 22, November 21

  B. Approval of 2023 meeting schedule (February 21, May 16, August 22, November 21)

  C. Deposit from Kessler Topaz for litigation settlement with Wells Fargo in the amount of $124.25; and Principal Financial Group dividend $3006.00

   D. Elected term for Police member Tyler Wright expires February 2023

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

   Retirement:  Jason Hanson 100% Joint Survivor (Line of Duty Disability)

   Contribution Refunds:  After plan freeze Vincent Marino, Aaron Pettry Jr., Caleb Recicar

   Stop payment:  Stop payment for Cecil Cornish effective 11/1/22 and initiate beneficiary benefit for 66 2/3% to Peggy Cornish effective 11/1/22

COLA  – Annual COLA to eligible members 10/1/2022

VIII. OLD BUSINESS

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

IX. NEW BUSINESS

1. Consideration/approval of detailed accounting of paid administrative expenses during Fiscal Year 2021/2022 for submittal to the City and availability to Plan Members (and actuary for the Division of Retirement with the Annual Report)
2. Discussion regarding ADA conversion of annual Foster & Foster reports to be posted on City website

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).