HomeMy WebLinkAboutHandouts_Pension General_Handout No. 5_02/01/2010State Laws Affecting
Boards of Trustees
BonniS.Jensen
The Law Offices of Perry & Jensen; LLC
400 Executive Center, S~Aite 207
West Palm Beach, Florida 33401
bsjensenCc~i.perryiensenlaw.com
561-636-6550
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I. Government-in-the-
Sunshine Law Florida Statute
Chapter 286
-Meetings must be open to the public
- Reasonable notice of such meetings must be
given
- Minutes of the meetings must be taken
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- Meetings
- Committee Meetings
- Written Communications
- Electronic Media
- Delegation of Authority to one Trustee
- "Conduits"
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- Reasonable Notice
- Agenda publication recommended
- Limitation on location of meeting
- Public attendance
- Minutes
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- Settlement Negotiations or Strategy sessions
related to litigation expenses are not subject
to sunshine
- Procedural requirements:
• Attorney requests advice concerning litigation in a
public meeting
• The subject .matter is limited to settlement
negotiations or strategy sessions related to
litigation expenses in pending litigation.
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- Procedural Requirements continued:
• The entire session is recorded by a court reporter
and no portion is off the record. Th.e court
reporter's notes must be fully transcribed and filed
with the Board within a reasonable time after the
meeting.
. The transcript is made a part of the public record
upon conclusion of the litigation.
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-Procedural Requirements continued:
• There shall be reasonable notice of the time and
date i.nclud.ing the persons who are expected to
attend the meeting. Persons who may attend are
limited to:
- Board of Trustees
The Board's attorney (both outside counsel and the
Board's attorney may attend, if applicable)
Court Reporter
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- To be sufficient, the notice must inform the
media and general public of the meeting and
afford them the opportunity to attend
- Form of Notice:
• Should contain time and place, and if available,
the agenda
• Notice should be prominently displayed where
such notices are regularly provided (Press releases
are highly effective)
• Special Meetings should have at least 24 Hours
notice
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-Inspection trips are permitted but no discussion
until at a properly noticed public meeting
- Luncheon/Dinner meetings are discouraged -
may ha~je a "chilling" effect on public attendance.
- Meetings at facilities that discriminate or
unreasonably restrict access are prohibited.
- Out of Town meetings are discouraged unless the
need for the meeting outweighs the public's
interest in attending
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- Minutes must be taken, promptly recorded and
made a part of the public record.
- Tape recording is not required but if taped the
tapes become public record.
- Draft minutes are public records.
- Changes, corrections or deletions must be
discussed and adopted at a public meeting.
- Minutes are a brief summary or series of brief
notes or memoranda reflecting the events of
the meeting.
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- Criminal penalties
- Removal from office
- Non-criminal infractions -fine not exceeding
$500
- Attorney's fees
- Civil Action
- Invalidation of action taken at a meeting in
violation of sunshine
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II. Public Records Lain -
Florida Statute Chapter 119
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- A11 materials made or received by= an agency
in connection with official business which
perpetuates, communicates or formalizes
knowledge are open to inspection and
copying. Including drafts.
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A~ ~l:~s t en~ia~.~ . _ . ,.:~ s
o 'fi'r ate .~.
- Attorney-Client and work product
- Personnel Records
- Financial Records
- Minutes
- Email
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- Home addresses, telephone numbers and
photographs of current or former
• Police Officers
• Firefighters
• Human Resources Directors
• Other directors, managers or assistant managers
whose duties include hiring and firing of
employees, labor contract negotiations or other
personnel related duties
• Exemption includes same personal information for
spouses and children of these employees.
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-Medical Records ` C~ iso- ~~ ~~ ~~5~ b
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- Direct deposit information
- Social Security numbers
- Other specific statutory exemptions
• Bank account numbers
o Trade secrets
• Draft audit before presentation to Board
• Others
C~R. GGcS.Std .n
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-Limited
- Fees
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III. Ethics -Florida Statutes
+~hapter 112
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- Financial Disclosure
- Gift Reporting
- Conflict Reporting
- Lobbyist Reporting
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III. Fiduciary Standards
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A. i.dr~ Liar ~.1~ ~ a
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• Highest duty in law
• Florida Statute ~ 112.656
• Other Laws
- Florida Statutes 737 and 738
- Plan Document/Trust Agreement
- Federal Laws - ERISA and Internal Revenue
Code
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- Trustees
- Trustees with Special Skill
- Investment Managers
- Investment Monitors
- Administrators
- Other Service providers ~vho acknowledge
such a relationship by Contract
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~i~~~~e o t 1~, ~Y
- Problems ~~Jith Assets
- Distribution Error
- Breach of Duty of Loyalty
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- Torts
- Contract
- Breaches of Duty
- Co-Trustee Responsibility
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