Loading...
HomeMy WebLinkAboutDocumentation_Pension General_Tab 10_02/01/2010McWilliams, Lori From: Laur, Betty Sent: Friday, January 15, 2010 12:00 PM To: Lori McWilliams (Imcwilliams@tequesta.org) Subject: FW: Pension Board Agenda Item Backup Lori, here is the email I sent to Monica. Betty From: Laur, Betty Sent: Friday, January 08, 2010 11:54 AM To: Rahim, Monica Cc: Lori McWilliams (Imcwilliams@tequesta.org) Subject: Pension Board Agenda Item Backup Monica, Here are excerpts from the minutes of the last General Employees Pension Board meeting of November 2 regarding the payment to Gehring Group. Lori is requesting you provide a written explanation which we can use as backup for this agenda item: VII. CONSENT AGENDA Board Member Gload noted the Board had previously approved paying the fiduciary liability policy premium for two years at a time because the premium would stay the same; however, the amount was $56 higher than the last payment. Recording Secretary Laur confirmed this was the second year; the premium should have been the same. Pension Coordinator McWilliams indicated she would ask HR Director Merlene Reid to come in to explain. Consensus was to pull this item from the Consent Agenda for discussion later in the meeting. MOTION: Board Member Gload made a motion to approve the Consent Agenda with the ratification of an invoice to The Gehring Group pulled for discussion. Board Member Mayo seconded the motion, which carried by unanimous 40 vote. Therefore, the following items were approved on the Consent Agenda: X. ANY OTHER MATTERS Request for ratification of payment to The Gehring Group for this Board's portion of the fiduciary liability insurance premium -pulled from the Consent Agenda Pension Coordinator McWilliams advised the HR Director had indicated unless the Village Manager required her to come speak to the Board that the Board relay their request or comments and she would investigate it and provide a report on it. Attorney Jensen commented there was a surcharge of $40.97 now required by the State of Florida that might possibly account for some of the difference in the premium amount. Pension Coordinator McWilliams advised there was a difference of $55.66 from the amount paid last year and after referring to the May minutes she thought this might be the ftrst year of a two-year premium payment. Attorney Jensen explained what the fiduciary liability police covered for the benefit of new member Terzakis. Discussion ensued regarding the premium amount and the amount of the last paymenf. This would be a regular item on the next agenda. Monica, let me know if any questions. I will need this explanation and your reports on Wednesday, January 20 in order to finalize the agenda packets that day. Thanks! Betty Laur, Betty From: Rahim, Monica Sent: Thursday, January 14, 2010 4:27 PM To: McWilliams, Lori; Laur, Betty Cc: Forsythe, Jody Subject: Gehring Group Fiduciary Liability Insurance Policy Attachments: image001.jpg Betty/ Lori, The fiiduciary insurance premium is allocated between pension trusts based upon each funds percentage ofi total cash and investments in all pension trusts (sum of cash and investments in funds #601, #602, #603). ~blanica Raf im Senior Accountant Finance Department The Village of Tequesta 345 Tequesta Drive Tequesta, FL 33469 Tel, No. 561.575.6209 Fax No. 561.575.6232 mrahimC~teguesta. org Please note: Florida has n very broad public records law. Most written communications to or from state or local officials regarding state or local business are considered to be public records and will be made available to the public and the media upon request. Therefore, your a-mail message may be subject to public disclosure.