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Home My WebLink AboutDocumentation_Pension General_Tab 02_03/30/2010Laur, Be From: Gfoad, Michelle Sent: Monday, March 22, 2010 5:07 PM To: McWilliams, Lori Cc: Forsythe, Jody; Cooper, David; 'Ed Sabin'; 'Frank D'Ambra ;Giblin, Raymond; 'Robert Young ; 'Robert Young ; 'Carl Hansen'; Mayo, Deanna; 'John Terzakis'; 'John Terzakis'; 'Michael D. Rhodes ;Telfrin, Debra; Couzzo, Michael; Laur, Betty; °Pension Attorney Team' Subject: RE: Request for TPPA Quotes by Michelle Gfoad with Loris changes 03-19-201.doc Lori, Thank you for the guidance in this matter. ~ecordingiy, I am requesting an agenda item be added to the special meeting asking the beard to request that the firms that have shaven interest in becoming the Village's third panto( pension administrators attend the May 3~d meeting and present their proposals and bz ready to answer any questians. Thank you again, Michelle From: McWilliams, Lori Sent: Monday, March 22, 2010 4:21 PM To: Gfoad, Michelle Cc: Forsythe, Jody; Cooper, David; 'Ed Sabin'; 'Frank D'Arnbra'; Giblin, Raymond; 'Robert Young'; 'Robert Young'; 'Carl Hansen'; Mayo, Deanna; `John Terzakis'; °John Terzakis'; 'Michael D. Rhodes'; Telfrin, Debra; Couzzo, Michael; Laur, Betty; Pension Attorney Team Subject: RE: Request for TPPA Quotes by Michelle Gfoad with Loris changes 03-19-201.doc Board Members -~• you ran respond to me -- hov~ever, pleave do n®t ~°espond tc each ether regarding this issue. Michelle, Public Records Law does not allow you to contact or communicate with any of the pension board members regarding pension matters, including scheduling of meetings. Please see the attached email where Bonni stated she, "did not feel that it was the best practice to invite someone to a meeting to present fees without it being a Board decision to invite them." This item will be presented during the regular meetings in May. I will be happy to place an item on the Special Meeting agendas requesting the boards approvals to invite the companies to the May meetings, however, all members should be present in order to have an opportunity to discuss this item in detail. Lori From: Gfoad, Michelle Sent: Monday, March 22, 2010 4:02 PM To: McWilliams, Lori Cc: Forsythe, Jody; Cooper, David; 'Ed Sabin ; 'Frank D'Ambra'; Giblin, Raymond; 'Robert Young'; 'Robert Young'; 'Carl Hansen'; Mayo, Deanna; 'John Terzakis'; 'John Terzakis'; 'Michael D. Rhodes'; Gfoad, Michelle; Telfrin, Debra; Couuo, Michael Subject: RE: Request far TPPA Quotes by Michelle Gload with Loris changes 03-19-201.doc Lori, T v~ould bike #o request #hat the t~~o third par#}~ adminis#rators vrho submi##ed ciuo#es be invi#ed to the May 3"~ pension beard mee#ing #o presen# their services and ans~ter any additional questions #ha# you or the other board members may have. Ts #his something that T can place on the agenda or vuould T need to ask the Chair, Michael Rhodes to do it? Thanks, Michelle From: McWilliams, Lori Sent: Friday, March 19, 2010 4:52 PM Ta: Gload, Michelle Cc: Forsythe, Jody; Cooper, David; Ed Sabin; Frank D'Ambra; Giblin, Raymond; Robert Young; Robert Young; Carl Hansen; Deanna Mayo; John Terzakis; John Terzakis; Michael D. Rhodes; Michelle Gload; Debbie Telfrin (E-mail); Michael Couzzo (E-mail) Subject: Request for TPPA Quotes by Michelle Gload with Loris changes 03-19-201.doc Michelle, I just had an opportunity to begin looking at the information that was prepared for the request for quote for a Pension Administrator. Please see the additions (in red) I believe need to be made to this document. I reviewed all of our job descriptions as they relate to the pension boards and came up with these additional services that need to be provided. I have not had a chance yet to review the information provided by Benefits USA as of yet. I will review this weekend or next week. Lori 2 Laur, Be From: Gload, Michelle Sent: Tuesday, February 23, 2010 11:41 AM To: McWilliams, Lori; 'ThePensionTeam@perryjensenlaw.com ;Forsythe, Jody Cc: 'Bonni Jensen ; 'Karen Amenity ; °Karl Seifel, Jr.° Subject: RE: FW: Pension Plan Administrator Thonk you Lori. O From: McWilliams, Lori Sent: Tuesday, February 23, 2010 11:37 AM To: ThePensionTeam@perryjensenlaw.com'; Gload, Michelle; Forsythe, Jody Cc: Bonni Jensen; Karen Amenity; Karl Seifel, Jr. Subject: RE: FW: Pension Plan Administrator Bonni- fVfichelle Gload will be handling this issue from here on. Please direct al! correspondence to her regarding this issue and cc me for my files. fVany thanks to all including fUficheile who has done a great deaf of initial research regarding this item. Lori From: Angela D. Twomey [mailto:angela@perryjensenlaw.com] Sent: Tuesday, February 23, 2010 11:33 AM To: McWilliams, Lori Cc: Bonni Jensen; Karen Amenity; Karl Seifel, Jr. Subject: Re: FW: Pension Plan Administrator Lori: Bonni called in and said that the Board does not have any provisions regarding conducting an RFP but did not know what the Village would require. We do have a sample RFP for an administrator (attached) but it is rather old (2001). We haven't done one in a long time. Bonni did nat feel that it was the best practice to invite someone to a meeting to present fees without it being a Board decision to invite them. If we can assist further or if you have any further questions, please feel free to contact us. Have a great day! ~ . ''~~~p ~~~a4 ~~s[stc2C3i - F'€:~ss6sar Tuna ~,f ~~~~:~s` .~e;as~:t The Law OfrF'ices of Perry 8~ Jensen, LLC 400 Executive Center Drive, Suite 207 West Palm Beach, Florida 33401-2922 561.686.6550 (Phone) 561.686.2802 (Fax) On 2/23/2010 9:41 AM, McWilliams, Lori wrote: Bonni, what will be the actual process for the two boards to select a Plan Administrator-? IV~ichelle Gload contacted both companies and requested eosts from them and wants to helps one of them attend the next pension meeting to review their fees. \Nor~ldn't this need to be done through an RFP? if so, do you have any E~FP's far Plan Administrators that any of your past clients have put out that 1 can look at? Thanks, Lori __ From: McWilliams, Lori Sent: Tuesday, February 23, 2010 9:39 AM To: Cooper, David; Ed Sabin; Frank D'Ambra; Giblin, Raymond; Robert Young; Robert Young; Carl Hansen; Deanna Mayo; John Terzakis; John Terzakis; Michael D. Rhodes; Michelle Gload; Angela Twomey; Bonni Jensen; Karen Armenita Cc: Forsythe, Jody; Laur, Betty; Debbie Telfrin (E-mail); Michael Couzzo (E-mail) Subject: Pension Plan Administrator Pension Board Members, I just wanted to let you all know that I have not forgotten your request to compile the scope of work list for you regarding a Plan Administrator. I am in the midst of Village Elections at this time, but do have this on my immediate "to do" list. I have received some information from the Pension Attorney that will assist me in compiling the information requested. However, Michelle Gload of our Finance Department contacted the two Pension Plan organizations herself to do research. As soon as 1 have received this information ftom her, l will forward to you. However, please note that this information will not be my report on what you requested and you will receive information from me as well. Thank you, Lori . . __ . IMPORTANT. The contents of this email and any attachments are confidential. They are intended for the named recipient(s) only. !f you have received this email in error, please notify the system manager or the sender immediately and do not disclose the contents to anyone or make copies thereof. *** eSafe scanned this email for viruses, vandals, and malicious content. *** 2 Laur, Betty From: McWilliams, Lori Sent: Friday, March 19, 2010 4:53 PM To: Laur, Betty Subject: FW: Request for TPPA Quotes by Michelle Gload with Loris changes 03-19-201.doc Attachments: Request for TPPA Quotes by Michelle Gload with Loris changes 03-19-201.doc Meant to cc you. From: McWilliams, Lori Sent: Friday, March 19, 2010 4:52 PM To: Gload, Michelle Cc: Forsythe, Jody; Cooper, David; Ed Sabin; Frank D'Ambra; Giblin, Raymond; Robert Young; Robert Young; Carl Hansen; Deanna Mayo; John Terzakis; John Terzakis; Michael D. Rhodes; Michelle Gload; Debbie Telfrin (E-mail); Michael Couzzo (E-mail) Subject: Request for TPPA Quotes by Michelle Gload with Loris changes 03-19-201.doc Michelle, I just had an opportunity to begin looking at the information that was prepared for the request for quote for a Pension Administrator. Please see the additions (in red) I believe need to be made to this document. I reviewed all of our job descriptions as they relate to the pension boards and came up with these additional services that need to be provided. I have not had a chance yet to review the information provided by Benefits USA as of yet. I will review this weekend or next week. Lori The Village of Tequesta is requesting quotes from third party pension administrators for the following services: Meetings • Schedule meetings • Notice meetings • Agenda preparation • Attendance at meetings • Minutes • Coordination of service providers attendance at meetings Administration of Board • Advise and educate boards on various pension matters • Act as liaison for plans to The Florida Division of Retirement • Respond to inquiries from the boards and service providers • Coordinate basic communication between the boards, the service providers and the Village • Prepare fund correspondence to providers and partidpants • Provide Internet access to basic plan information • Maintenance of contact listr (Boards and Service Providers) • Manage pending matter lists • Elections o Notice of elections o Coordination and management of elections o Notify Village Clerk of elected boards after elections for wbmittal to Village Council • Training o Advise boards of training opportunities o Assure proper registration of boards at training events o Handle travel arrangements for board members o Process travel reimbursements for board members • Maintain all memberships of the boards -,Maintain plan liability insurance and fidelity bond coverage _ Ensure Financial Disclosures are Filed Coordinate i Conduct Special Studies of Board as Request ' ~renare and Coordinate RFP's Maintenance of all current contracts /agreements • Advertise board vacancies Plan and Pollev Chances • Assist with all plan and policy changes • Assist with implementation of all plan and policy changes • Ordinance Changes o Assist with cost estimates and impact statements o File ordinance and impact statements with Village Clerk and the Division • Summary Plan Description -Assist with changes and updates o Submit proposed Ordinance amendmentsJrevisions to Village Clerk for Council Approval o File updated copies with the Village Clerk • Investment Policy Assist with changes and updates o Submit proposed Ordinance amendments/revisions to Village Clerk for Council Appro~ al 1 o File updated copies with the Village Clerk • Administrative Rules o Assist with changes and updates o File updated copies with the Village Clerk Service Providers • Coordination of pending issues • Assist with monitoring the performance of service providers • Assist with the replacement of service providers • Assist with all service provider contracts • Assure compliance with all service provider coMrads • Review ail service provider pay requests and submit to board for approval • Process ail approved pay requests • Review ail statements/reporttr from service providers and respond to inquiries from the boards relating to the statements/reports Public Remrds Custodian • Maintain all plan records as Records Custodian • Assure compliance with The Government In the Sunshine Law • Assure compliance with The Public Records Act -Provide access to all records and information • Manaxe disposition of public records per the State Records Sc!leduie Members and Benefits • Maintain information packets to be distributed by Human Resources to new employees to include: o Summary Plan Description o All forms required to be completed by new employee o Any other paperwork that you deem necessary or important • Maintain information packets to be distributed by Human Resources to terminated employees to include: o All forms required to be completed by terminated employee o Any other paperwork that you deem necessary or important • Process all member applications and submit to boards for approval • Maintain all current beneficiary designations • Maintain data of participantr o Benefit eligibility o Participant service Payroll o Contribution Data • Assist in processing benefit claims and appeals • Assist with the processing of all non-vested, terminating employees o Calculate and submit contribution refunds to the boards for approval o Process approved refunds or rolling of contributions o Maintain contributions of non-vested employees who choose to leave their contributions in the plans • Tax withholding and reporting for refund payments and rollovers o Deduct tax withholding from refund payments o Make tax deposits o Issue 1099Rs o File annual 945 • Assist with the processing of all vested, terminating employees o Process retirement requests and submit to boards for approval o Provide actuary with information needed in order to calculate retirement benefits o Provide calculated retirement benefit amounts to the boards and then to custodian to begin payments • Assist with processing changes relating to benefit payments o Member deaths o Beneficiary changes Plan Financials • Maintain local checking account for plank verify calculation and prepare payments `order the^rs • Reconcile checking account monthly • Inform board of any discrepancies found during reconciliation • Review all accounts payable and present to boards for approval • Process all accounts payable once approved Monitor and reconcile contributions and deposits __ Coordinate and maintain board budeets Process check requests for payment Remit contributions to Salem Trust ~?) Record /Journal Entw contributions (%) Peconcile contributions arnually for auditors Ccmolete irJ99-R's l?) Complete Annual 945 (7) Make Deposit Prepare % urocess wire tansfer _ Reconcile Salem Trust Statements; investigate differences Process Refund o' contributions to *erminated employees • Process transfer o`fu~d~ for rollover pension contribuYon~ Reports • Prepare the Annual Report and submit first to the board and second to the State for approval --Prepare the Information Report requested annually from the actuary c Coordinate with+he Actuary to graaide employees (PSO - e~erv other year and GE -every vearl tivitn Emolove° Benefit Statements ~ Formatted: Indent: Left: O.S", No bullets or i numbering ! `_ -_-_J