General Employees' Pension Board - November 22, 2022

  1. Agenda

  CITY OF TITUSVILLE

GENERAL EMPLOYEES’ BOARD OF TRUSTEES REGULAR MEETING

TUESDAY, NOVEMBER 22, 2022, 1:00 P.M.

FIRE DEPARTMENT TRAINING ROOM (SECOND FLOOR)

 

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

VIII. STAFF REPORT    

1. Approval of expenses:

  1. Fifth Third Bank for the following accounts:  R&D $2,204.97; Integrity $555.80; TIPS $221.11; Brandy $1039,51 for quarter end 9/30/22
  2. Brandywine for quarter end 9/30/22 in the amount of $2,963.73
  3. Integrity in the amount of $4,706.09 & TIPS in the amount of $1,188.84 for quarter end 9/30/22
  4. RBC Global for quarter end 9/30/22 in the amount of $16,167.58
  5. Sugarman & Susskind in the amount of $10,483.65 dated 11/10/22
  6. &Co Consulting in the amount of $9,566.82 for quarter ending 9/30/22
  7. American Realty Advisors in the amount of $4,407.65 for quarter ending 9/30/22 (deducted from distributions)
  8. Administrative fee for Plan Administrator $3496.72 monthly (automatic debit) 
  9. Intercontinental quarterly fees 9/30/22 (deducted from distributions) $8741
  10. Foster & Foster dated 11/2/22 in the amount of $1,900.00
  11. FPPTA 2023 annual membership renewal in the amount of $750.00
  12. FPPTA 2023 Recertification for Stan Retz in the amount of $31.00
  13. FPPTA travel expenses for annual conference for Julie Enright in the amount of $1,262.
  14. Fiduciary Liability insurance renewal effective 10/1/22 in the amount of $8,094.00.
  15. Deposit from Kessler Topaz for litigation settlement of MF Global Holdings in amount of $62.05;
    Principal Financial Group dividend $4519.00; $200 actuary fee to calculate purchase of service 
  16. Approval of 2023 meeting schedule as follows:  February 21, May 16, August 22, November 21

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

Retirement(s): Peggy Busacca effective 9/1/22 Life Only; Terminated Vested member Billy Patterson effective 9/1/22 Life only; Terminated vested member William Johnson effective 9/1/22 100% Joint Annuitant with 10% Partial lump sum

Contribution refund(s): After Plan benefits only:  Andrew Riffe, Desergio Wickham, Vaughn Neth, Keith Green, Wesleyan Tilquist, Christopher Watkins, Jeffrey McGowan, Jessie Richardson III, Audrey Swiatocha, Theious Thomas, Jon Monroe, Aaron Pettry Jr, Michael Starr

Stop payment:  Howard Longchamps 11/1/22 (account closed unable to recall - 12/1 stopped); Roger Reed 12/1/22; Shirley Tucker 12/1/22; Michael Dixon 11/1/22 (pending 100% Joint annuitant setup)


VIII. OLD BUSINESS

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

IX. NEW BUSINESS

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).