HomeMy WebLinkAboutDocumentation_Pension Joint_Tab 02_05/03/2010 Laserfiched
Village of Tequesta
General Employees
Pension Fund
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VILE AGE OF T1 QUESTA, FL.
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ry
4360 Northlake Boulevard, Suite 206 • Palm Beach Gardens, FL 33410
Phone (561) 624 -3277 • Fax (561) 624-3278 • WWW.RESOURCECENTERS.COM
�Illli� THE PENSION RESOURCE CENTER
TABLE OF CONTENTS
PROPOSAL SECTION
Executive Summary 0
The Pension Resource Center, LLC 0
Mission Statement and Beliefs
Overview
Emphasis: Quality and Value
Administrative Services
Technology Overview
Fee Proposal
APPENDIX
(ADDITIONAL INFORMATION)
Fidelity Bond/ Coverage For Errors And Omissions
Client List
Biographies of Primary Staff
Table of Contents
r iii THE PENSION RESOURCE CENTER
PROPOSAL ITEMS:
Section 1. Executive Summary
Section 2. Pension Resource Center
Section 3. Administrative Services
Section 4. Technology Overview
Section 5. Fee Proposal
SECTIONS 1 -5
M I I THE PENSION RESOURCE CENTER
EXECUTIVE SUMMARY
SECTION 1
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THE RESOURCE CENTERS
The Pension Resource Center is pleased to submit a proposal to the Village of
Tequesta General Employees' Pension Fund for plan administration services. We
strongly believe that we add significant value to the services we provide to the Board
and to the members of each plan, through both our staff and the resources available to
our firm. We have proven leader in bringing technology typically found only in
much larger plans to all of our clients as well. Even though we manage these
resources well, we still recognize that the administration of a public pension plan
comes down to people. We care about the people that we employ, just as we care
about each member in each plan that we have the privilege to serve.
When began to provide plan administration services to our first public pension client
in 1996, we were excited about the future and energized by the relationships that we
enjoyed with our clients. Although we have grown since that time, we continue to
hold onto the character and values that we had when we first started. We had our first
office in three small rooms located on Tequesta Drive, and many of our employees
continue to live in the area. Should the Trustees extend to us the honor to serve your
Board and the members of your plan, then we will have the unique opportunity to
return home to our roots. On behalf of my staff, I want to thank you in advance for
considering our firm.
THE PENSION RESOURCE CENTER
OVERVIEW:
PENSION RESOURCE CENTER LLC
SECTION 2
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THE RESOURCE CENTERS ,
Our
M ISSION The Pension Resource Center and its affiliates offer
administrative services to its group pension clients and retirement planning services
to the individual participants. We are committed to providing the highest level of
service to our clients. With every decision we make, we have one overriding
purpose: To be available when our clients need us.
Our
B ELIEFS We are a company founded on strong beliefs, beliefs that
manifest themselves in the way we do business, through our employees, and in the
services we provide.
We believe in FINANCIAL STRENGTH. We will only represent products to
our clients from companies that also maintain a strong financial position.
We believe in INTEGRITY. We believe adherence to the highest standards of
integrity is the principal measure of the success of our products, our dealings with our
clients, and our contributions to society. Our integrity keeps us dedicated to
providing our clients with value and financial security in the products we offer and
quality and responsiveness in the services we provide.
And most of all, we believe in HUMANITY. We believe in treating both our
clients and our employees with compassion, consideration, and respect. Our business
is unique in that we possess the ability to help people provide for and secure their
futures, and our enduring belief in humanity keeps us from losing sight of this fact.
We know that the work we do makes a difference in the lives of the people that we
serve.
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The Resource Centers have grown rapidly to become one of the largest providers of
benefits and services to public employees in Florida. At the same time, we bring the
added focus, incentive, and commitment to our work that only a smaller firm can
provide. The Pension Resource Center specializes in the administration of municipal,
Chapter 175, Chapter 185, and local law pension plans. The Benefit Resource
Center, meanwhile, provides benefit consulting services to public employees, Taft -
Hartley plans, and health and welfare trusts. We also offer options to participants of
DROP Plans to self - direct the investment of their assets. Through all of these
activities, we have developed an awareness and sensitivity to the concerns of both the
trustees and the plan participants regarding their selection and use of various benefits.
Our commitment to service and excellence remains our highest priority.
The Resource Centers are always committed to bringing only the finest resources and
expertise to our clients, evidenced by the quality of our principal staff. Scott Baur
founded the Resource Centers in 1997, providing benefits and services to participants
of bargaining units in the public sector. Scott is widely known as a professional
speaker on plan administration, investment, and retirement topics. He has conducted
seminars and workshops for both plan trustees and participants. Denise McNeill
offers years of experience in benefit administration, accounting, and personal service
to the plan participants. Margie Adcock, an active member of the Florida Bar,
provided legal representation to public pension and benefit plans for eight years prior
to joining the staff of the Resource Centers as General Counsel and Plan
Administrator. Ed Scott, as a CPA with extensive consulting experience to human
resource departments, oversees the internal controls and procedures for services
provided through the Resource Centers. The Resources Centers have additional staff
with considerable experience in all aspects of pension administration.
Based on this combination of experience with qualified plans, retirement planning,
and public benefits administration, the Pension Resource Center has both the
resources and the expertise to provide administrative services to the Village of
Tequesta Pension Funds.
Our Mission:
♦ Organization
• Accessibility
• Service
♦ Communication
Organization
We offer a systematic approach to maintaining records for each fund, using the most
advanced and comprehensive integrated database management tools on the market
today. We also have a programmer on staff to tailor these programs to the
requirements of each client. Thus, we can provide information to the trustees and
participants in any useful format as needed.
Accessibility
We have one overriding purpose: To be available when our clients need us. We will
serve not only the trustees, but each active participant and retired beneficiary of your
fund.
Service
We believe that each participant in the fund deserves our respect and consideration.
We look forward to demonstrating to you the commitment to excellence that we offer
all our clients.
Communication
We consider communication with the trustees and the participants of the fund of the
highest importance. In addition to traditional forms of communication, the Pension
Resource Center also offers interne access to bring timely information to the
participants of your fund.
• State of the Art
The Pension Resource Center utilizes the latest technology and computer software to
administer your Pension Fund. With the assistance of this technology, we can provide
you with accurate benefit calculations and estimates, bookkeeping services, electronic
transfers of funds, and interface with payroll software.
The Trustees and Participants can access the Virtual Pension Office through the
Internet, via our web page at www.ResourceCenters.com:
♦ Pension Plan documents.
♦ Minutes.
♦ Recent Plan investment performance.
♦ Forms and applications.
♦ Links to State Laws.
♦ Other Board selected and customized information.
Value Added:
♦ Experience
♦ Integrity
The Pension Resource Center specializes in the administration of benefits for public
employee groups. We also bring extensive experience on the design and installation
of qualified pension plans and ERISA guidelines. Because we provide financial
services and products to many clients on an individual basis, we can also address the
special needs of each participant as well.
We will be pleased to offer references from both the trustees and the participants for
the plans that we currently serve.
ro w, THE PENSION RESOURCE CENTER
ADMINISTRATIVE SERVICES
SECTION 3
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As a fiduciary, the Trustee shall discharge his or her duties with respect to
a Plan solely in the interest of the participants and beneficiaries for the
exclusive purpose of providing benefits to the participants and their
beneficiaries and defraying reasonable expenses of administering the Plan.
(Section 112.656(1), Florida Statutes)
The Pension Resource Center will help you satisfy the fiduciary obligation that you
have to your Plan and its participants. We believe that we work for all the
participants of the Plan, even while we remain accountable to the Trustees for our
performance. We also offer an organized approach to maintaining the records and
systems essential to the operation of your Plan, so that your Plan operates smoothly at
all times. Finally, we have the expertise to back our commitment to you. We know
how to provide the support that you require as a Trustee, allowing you to run your
Plan more effectively.
The Pension Resource Center Offers:
2 Ability to Provide the Services Required by the Plan and Trustees
2 Experience, Familiarity with Local, State, and Federal Laws
0 Personal Service
2 Accessibility to Trustees and Participants
Basic Administrative Services
Q Attend Public Pension Fund Meetings, Including:
o Notice
o Agenda
o Minutes
IO Act as Records Custodian for Plan
Q Assist with Coordination of Service Providers
Q Maintain Systems to Record Contributions to Plan and Disbursements
from Plan
Q Complete Monthly and Annual Reconciliation of Accounts
Q Assist in Preparation of Government Reports
0 Maintain Service and Employment Records
Q Provide Access to Plan Records and Information
Basic Communication
121 Issue Annual Statement of Benefits to Participants
Q Prepare Fund Correspondence to Providers and Participants
Q Conduct Pension Workshops for Participants
Q Respond to Inquiries by Trustees, Participants, Service Providers, and
Employers
Q Advise and Educate Trustees on Various Pension Matters
Q Newsletters and Internet Access
Additional Services
El Prepare and Coordinate Requests for Proposals for Service Providers
Q Assist in Creating and Evaluating Professional Relationships with
Service Providers
IO Obtain Quotes for Plan Liability Insurance and Fidelity Bond Coverage
0 Act as Liaison for Plan to Florida Division of Retirement
Q Maintain Pension Checking Account (as Required)
Q Prepare Monthly Financial Statements (as Required)
Benefit Processing and Payment
Q Maintain Data for Benefit Eligibility of Participants
Q Process Benefit Applications
Q Assist in Processing Benefit Claims and Appeals
Q Obtain Medical Records for Disability Applications
Q Issue Benefit Payments (As Required)
o Check
o Direct Deposit (EFT)
RI Tax Deposits, 1099s, and IRS Reporting
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yt dministrative Services
♦ Attendance At Public Pension Fund Meetings, Including:
0 Notice
0 Agenda
0 Minutes
The Pension Resource Center will post notice for all public
meetings of Trustees. We will distribute the Agenda to the
Trustees in advance of the meetings, and we will take the minutes
at the meeting.
♦ Monthly Pension Check Payments:
0 Check
0 Direct Deposit (EFT)
We will make monthly pension payments in the manner requested
by the retired participant.
♦ Annual Participant Benefit Statements
We believe that each participant in the Pension Fund can plan for
the future effectively only after properly understanding the
available benefits and options. Our employee communications are
designed to simplify the significant features of the retirement
benefits so that employees can make appropriate decisions about
retirement based on their individual circumstances.
♦ Unaudited Monthly Financial Statements
Just as effective communication is important to the individual
participants of the Pension Fund, proper communication is also
essential for the Trustees to manage their Fiduciary obligations to
the participants of the Pension Fund. The monthly financial
statements represent one of the significant tools available to the
Trustees to monitor various aspects of the financial performance of
the Pension Fund.
♦ Monthly And Annual Reconciliation Of Accounts
We reconcile accounts monthly and annually at a minimum, more
frequently if necessary. We exercise every diligence as we assist
the Trustees in the performance of their fiduciary obligations to the
Pension Fund.
• Records Custodian For Fund
The Pension Resource Center will maintain all public records
associated with the Pension Fund. We will make records available
to the Trustees, participants, or other interested parties upon
request. Because we have the ability to manage our data systems
internally, we can provide financial information in any format
required by the Trustees.
♦ Coordination Of Service Providers
♦ Fund Correspondence
Timely communication with the respective service providers keeps
the Pension Fund operating smoothly and prevents issues from
developing into problems.
♦ Monthly Tax Deposits
The Pension Resource Center completes both deposits and
reporting to the IRS promptly and accurately.
• Process Benefit Applications
We will provide the information that participants need to make
decisions about their future, and we will help each participant file
the necessary applications for retirement.
• Preparation Of Government Reports
We will complete the annual report to the State of Florida, along
with the auditor and the actuary for the Pension Fund. Accurate
reporting ensures compliance with the requirements of the State.
• Routine Communication To Participants
• Conduct Pension Overview Workshops For Participants
• Internet Web Site Access To Fund Information
• Local Administrative Office Accessible To Participants And Retirees
♦ Professional, Knowledgeable Staff
♦ Personal Service
Effective communication with the participants of the Pension Fund can
take many forms. The typical Trustee works to enhance the function of the
Pension Fund and the benefit to each participant; the quality of such
communication then determines the quality of the benefit that the
participant will derive from the Pension Fund.
II I I THE PENSION RESOURCE CENTER
TECHNOLOGY OVERVIEW
SECTION 4
THE PENSION RESOURCE CENTER Virtu Pension Office
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THE RESOURCE CENTERS
The Pension Resource Center utilizes the latest
technology and computer software to administer your
Pension Plan. With the assistance of this technology, we
can provide you with current Plan information,
bookkeeping services, electronic transfers of funds, and
interface with payroll software. The participants of your
Pension Plan, meanwhile, can access Plan documents,
common forms and applications, and our online benefit
calculation and account inquiry systems.
The Trustees and Participants gain entry to the Virtual
Pension Office through the Internet, via our web page at
www. ResourceCenters. com :
♦ Pension Plan documents.
♦ Board approved minutes.
♦ Recent Plan investment performance.
♦ Forms and applications.
♦ Links to other service providers.
♦ Links to State Laws.
♦ Other Board selected and customized information.
♦ Plan Email box.
THE PENSION RESOURCE CENTER Virtual Pension Office
Online Resources for
Village of Tequesta Pension Funds
PENSION FUNDS
Separate web page
maintained
Hume ` ' t ` °'p Sunrise specifically for the
General Employees' itetlrement Plan
About Reuource'enters Village of Tequesta
Benefit Fonds Pension Funds
Pension Funds Two - Richard Salomon, Chairman Rosalind Comm, Trustee
- Paul Mink, Secretary Dean Dickey , Trustee
Individual Client Servo: es Don Campbell, Trustee John Rizzo, Trustee
Important Links Ruth Castellon,Trustee Patti Bauer, Altemate Trustee
Local Ordinance Map to Office
and Summary Plan / Contact U,
Pin Dacum4ntr I ocal Plan Ordinance R ink), Summary Plan Descriptions
Description Chapter 11 N
Senior Management
Minutes: Board approved
411
Minutes
Common forms and
Forms Application for Retirement Designation of Beneficiary
applications - W -4P Federal Income Tax 2324 Refund of Pension Contributlonfl
AdobeAaobel Reader Direct Deoosjt Social Tax Notice
c 'enured to von Dhanoe of A6dresg
many 01 the documents
nr. Ns site You can
download 1 elow Plan Contact
ny ckkug below. AJ usaator. The Pension Fund is administered by The Pension Resource Center
We can be reached at 561-624-3277 or 1-803 -206 -0116. , Information
Service P'ovid AcJuarY Investment Managers
Gabriel, Roeder, Smith &Company Allegiance Capital Inc
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Attorney Ark Asset Management
Klausner & Kaufman, P.A yeseveheark.com
www. robertdklausner.com
Axiom International Investors
Links to web Auddor wmt.axinvest.com
Koch Raise
resources provided yew kr-coa cam The Boston Company
yyyvrthebostoncemeanr.one
by other Plan Custodian
Salem Trust Company Davis, Hamilton. Jackson & Assoc
service providers wwnsalemtrust corn yew, dhiacorn
jnyestment Advisor PIMCO (Fixed Income & Equity)
Kalson & Associates www pimco.com
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Systematic Financial Management
_ yww slmloporn Recent investment
Frani pe ' View the highlights on the latest investment performance of the Fund: -!
performance
Investment Parfermance This is a large file and if is aaatto download the Me
to yam awn pmpeter. Jot righSditlr on the line
and pled MereTaraet gat and save to your
Desktop oW anetner lotatien on pour computer
Online Benefit Calculation and
Account Inquiry System Icon
Online Benefit Calculator
Questions?
Tequesta com
(800) 206 -0116
Announcing ... THE PENSION RESOURCE CENTER Virtual Pension Office
Online Benefit Calculation & Account Inquiry System
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Police Pension Fund
• F „ * , About Resource Centers
Benefit Funds
J Pension Funds liZEr - Ed Mitchell, Chairman Chris Roaf, Trustee
- Jonathan Frost, Secretary Wil White, Trustee
Indradual Client Services Chris Fragakis, Trustee
Important Links
Map to Office Meeting Dates Wed. April 7, 2004 830 A.M. PBA Hall
- 2100 N. Florida Mango Road
Contact Us West Palm Beach, FL 33409
(561) 689 -3745
Select Village of Teguesta Special Act Summary Plan Description
Click on the "Benefit Calculator" Icon
For Pension Benefit Projections "! idt!" February 20 7009
March 10 2003 August 15 2003
September 12 2003
March 71 7003 October 17 2003
80ri 93 November 21 2003
Mav 9 20D3 Puddler 19 2003
Select Village Te uesta t,ne 9 2D03 February 1 20a
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g f �] � a February 132004
Click on the "Account Inquiry" Icon •
DROP & Share
For Share & DROP Account Balances Account Dalance9 corms: i
1 Application for Retirement
--------- --- - - - -'- ' ` -4P Federal Inourne Tax 2004
Special Tax Notice
Adobe Acrobat Reader Application for Disability
is required to view ysoplication for Distribution of Share Account Balance
many of the document, @Slication for a DROP Loan
on this site. You can Application for Rollover of Funds
The Pension Resource Center, is pleased download it free - Application for Distrbution of DROP Account Ralance
by clicking below: :`edit Union Deduction Authorization
to release our newest service, an online Designation of Beneficiary
pension benefit calculator and account r Direct Deposit
Hartford Enrollment for Retirement
inquiry system! From our website, you are Mod of Contributions
q y y Retiree's Insurance Deduction Authorization
now able to prepare accurate individual
Administrator: The Pension Fund is administered by The Pension Resource Center
retirement projections based upon your ---- - - -- " We can be reached at 561 -624 -3277 or 1- 800 -206 -0116
personal service history and payroll
information. To access the internet service Provid r - Accoyrdant investment Managerfsl
Cherry, Bekaert, & Holland Davis, Hamilton, Jackson &Assoc
pension benefit calculator, please visit rrwwv cbh corn vomit dhia com
your Pension Fund's web page at Actuary !nyesco Capital Management, Inc.
Gabriel, Roeder, Smith & Company Yvnw invesoo com
www.ResourceCenters.com and click on `
West Cap
the "Online Benefit Calculator" button to ®ciunex
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the left. Please be patient, as the site will Hanson, Perry, &Jensen, P,A
Investment Monitor
Custodian Smith Barney Consulting Group
likely be very busy from the news of this Salem Trust Company wwe smithbamey ruin
www salemtrust corn
announcement.
Fund Performanc4 View the highlights on the latest investment performance of the Fund:
Questions? Investment Performance rhksaterae fileand it is beet to'''''°wadoaa iM
Hie to your own computer. Just nahlotrek on the link
Teguesta(a,ResourceCenters.com
and select `s"`` ` s om e] over place that is t
OF N Documents or some other pte« that 1e easy to
finC later.
V (800) 206 -0116
THE PENSION RESOURCE CENTER Virtual Pens Office
Online Benefit Calculation & Account Inquiry System
Disclosure Page
PEISION FIJNDS
Home ,. INF 7 CALCULATOR
LATOR
About Resource Centers
Benefit Funds
Security & Privacy: F This site employs an Industry- standard protocol
Pension Funds (SSL technology) for secure communications
Indiuiduat Client Services between our server and your browser. This
technology provides the following components of
Important Links secure online transactions; authentication,
message privacy and message integrity. Every
Map to Office reasonable effort is made to protect the security of all personally
Contact Us identifiable data located on this site. In addition, all personally
identifiable information is not made available to any other parties.
Benefit Calculator This page provides an estimate of a Plan member's monthly
retirement benefits based on data supplied by the employer and
additional information provided by you. Projections of retirement
benefits are based on continuation of your present pay and full
time service until you become eligible to retire. Every effort has
been made to insure that calculations provided to you in this
manner are accurate, but they are only estimates and data and
calculation errors can occur. Statutes, documents, official
interpretations, and accurate data necessarily govern the final
determination of any benefit. For a precise calculation, please
contact your Plan Administrator.
Terms a' Condition. i By accessing this site, I hereby agree that the information provided
t represents only an estimate of my pension benefits and the final
determination of benefits must by made by the actuary engaged by
the Plan in accordance with statutes and ordinances in effect at
the time that I retire. I further agree 10 indemnify and hold
harmless the Plan, the Board of Trustees, the Trustees (individually
and as Trustees), and the Plan Administrator for any decisions that
I make based on the information received from this site.
1 Aliooe I Disagree
J
THE PENSION RESOURCE CENTER Virtual Pension Office
Online Benefit Calculation & Account Inquiry System
Input Screen
THE RESRE CENTERS
Pension Benefit Calculator
Home Fund x West Palm Beach Police
Social Security Number x 1 xxx - xx - xxxx format
Birth Date r I mm/dd/yyyy format
Name
Birth Date 1 mm/dd/yyyy format
Last Day of Service I mm/dd/yyyy format
Pension Commencement
Date
mm/dd/yyyy format
Email Address x ie, johndoe @aol.com
All fields marked with are required.
Calculate I
Please click only ONE time, the calculation may take up to 60 seconds
Any Questions? Contact us wnboolice@resourcecenters.com
THE PENSION RESOURCE CENTER Virtual Pension Office
Online Benefit Calculation & Account Inquiry System
Output Screen
Village of Tequesta Pension Funds
Estimated of Pension Benefits Prepared For: Employee
Date Prepared: 05/20/2004
Service Information
Calculation Based Upon Service of: 25 Yrs 0 Mos
Calculation Based Upon Monthly Final Average Salary of: $6247
Calculation Based Upon Final Service Date of: 10/01/2009
Calculation Based Upon Commencement Date of: 10/02/2009
Type of Retirement (Early, Normal, or Vested Deferred): Normal
Date of Hire: 10/01/1984
Standard Form of Benefit Payment
Standard Annuity $4607
Optional Forms of Payment
Date of Birth of Beneficiary: 10/08/1961 Member Survivor
Life Annuity: $4646
Standard Annuity $4607 $3086
100% Joint & Survivor: $4251 $4251
66 2/3% Joint & Survivor: $4445 $2963
50% Joint & Survivor: $4549 $2274
Any Questions? Contact us at Tequesta a(�.ResourceCenters.com
Definitions of Optional Forms of Payment:
Standard Annuity - This option provides the stated benefit to you as long as you live. If you are married, your spouse will receive a
monthly benefit, which is equal to 66 2/3% of your monthly benefit. If you are unmarried and you should die before 120 payments have
been made, the payments will continue to be made to your beneficiary until 120 payments have been made in all.
Life Annuity - This option provides the stated benefit to you as long as you live. If you should die before you have received an amount
equal to your own contributions to the Plan, payments will continue to your beneficiary until your own contributions have been used up.
Joint and Survivor - This option provides the stated member's benefit to you as long as both you and your beneficiary are living. After
the death of either you or your beneficiary, the stated survivor's benefit will continue for the life of the remaining person.
This page provides an estimate of a Plan member's monthly retirement benefits based on data supplied by the employer and
additional information provided by you. Projections of retirement benefits are based on continuation of your present pay and
full -time service until you become eligible to retire. Every effort has been made to insure that calculations provided to you in
this manner are accurate, but they are only estimates and data and calculation errors can occur. Statutes, documents, official
interpretations, and accurate data necessarily govern the final determination of any benefit. For a precise calculation, please
contact your Plan Administrator. By accessing this information, you have already agreed that the information provided
represents only an estimate of your pension benefits and the final determination of benefits must by made by the actuary
engaged by the Plan in accordance with statutes and ordinances in effect at the time that you retire. You have already further
agreed to indemnify and hold harmless the Plan, the Board of Trustees, the Trustees (individually and as Trustees), and the
Plan Administrator for any decisions that you make based on the information received from this site.
1 17 THE PENSION RESOURCE CENTER
FEE PROPOSAL
SECTION 5
Proposa(antf Fees
The Pension Resource Center will provide administrative services to the Board of
Trustees for the Village of Tequesta General Employees Pension Trust Fund, subject
to the current fee schedule and following limitations:
• Fees will include all normal travel to provide services to the Trustees and
participants. Should the Trustees require any special travel (Tallahassee, for
instance), the Retirement System shall reimburse the additional travel expenses to
the Pension Resource Center as required in the performance of duties related to
the administration of the plan.
• As noted in the specimen contract, such items as printing charges and postage for
mass mailings will be billed at the actual expense for the cost of postage and
payroll for preparation. Normal costs incurred for copies and postage for
correspondence are included in the fee quoted.
• The Pension Fund shall provide a current copy of the plan document to the
administrator, updated as required to maintain compliance with current
regulations. The Pension Fund, along with appropriate counsel, shall bear the
responsibility and any liability related to the maintenance of the plan documents.
• The Proposal includes up to 4 quarterly and 2 other meetings per plan year.
Additional meetings will be billed at a rate of $350.00 per meeting.
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The fee paid by the Pension Fund shall include the following services requested by the
Village of Tequesta:
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 participants
• Provide internet access to basic plan information
• Maintenance of contact lists (Boards and Service Providers)
• Manage pending matter lists
• Elections
o Notice of elections
o Coordination of elections
o Notify Village Clerk of elected boards after elections for submittal 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
Plan and Policy Changes
• 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
o Assist with changes and updates
o File updated copies with the Village Clerk
• Investment Policy
o Assist with changes and updates
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 contracts
• Review all service provider pay requests and submit to board for approval
• Process all approved pay requests
• Review all statements /reports from service providers and respond to inquiries
from the boards relating to the statements /reports
Public Records 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
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 participants
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 Financia /s
• Maintain local checking account for plan
• 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
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
Village of rIequesta
General Employees' Pension Trust Fund
Plan Administration
Item Fee
Full Administrative Services: General Employees' Pension Fund $950.00
Discounted Fee (Both Boards) $800.00
Conversion Fee (System Programming Charge, If Applicable) (Actual Cost)
Additional Meetings (Above 6 per plan year) $350.00
Set -Up Fee: Per Disability Or Retirement Application $100.00
Fee Per Medical Records Request (Disability Application) $25.00
Rate Guarantee 2 Years
THE PENSION RESOURCE CENTER
APPENDIX
APPENDIX: SECTIONS A -C
II IIII THE PENSION RESOURCE CENTER
FIDELITY BOND/
ERRORS AND OMISSIONS
APPENDIX: SECTION A
Fidelity <3on'' d/
Coverage for
Errors and Omissions
The Pension Resource Center shall maintain at least $1,000,000.00 coverage for
Errors and Omissions and appropriate Fidelity Bond. Proof of coverage will be
offered prior to assuming administrative duties for the Pension Fund.
,[I�III THE PENSION RESOURCE CENTER
CLIENT LIST
APPENDIX: SECTION B
111111111111 AMPS 41111111111111ISN/MO 011111111111111111111111N
e= ere ce
11111•11111111 411111011101 401111110
Defined Benefit Recordkeeping & Administration Clients
Through the Pension Resource Center:
0 Amalgamated Transit Union Local 1596 Pension Plan
0 Boynton Beach General Employees Pension Fund
0 Cape Coral Firefighters Pension Fund
0 Cape Coral General Employees Pension Fund
0 Cape Coral Police Pension Fund
0 Daytona Beach Police & Fire Pension Fund
0 Deerfield Beach Police Pension Fund
0 Delray Beach Firefighters and Paramedics Retiree Benefit Fund
0 Fort Pierce General Employees Pension Fund
0 Fort Pierce Police Pension Fund
0 Hallandale Beach Police & Fire Pension Fund
0 Jupiter Police Pension Fund
0 Lake Park Police Pension Fund
0 Lake Worth Division I Firefighters Pension Trust Fund
0 Lake Worth Division II Firefighters Relief and Pension Fund
0 Lake Worth General Employees Retirement System
0 Lake Worth Police Officers Retirement System
0 Lantana Firefighters' Pension Fund
0 Miami Springs General Employees Retirement System
0 Miami Springs Police Officers Retirement System
0 Miramar Firefighters Pension Fund
0 North Palm Beach Police & Fire Pension Fund
0 North Port Firefighters' Pension Fund
0 Palm Beach Gardens Firefighters Pension Fund
0 Palm Beach Gardens Police Pension Fund
0 Palm Springs General Employees Pension Fund
0 Palm Springs Hazardous Employees Pension Fund
0 Palm Tran/ ATU Local 1577 Pension Plan
0 Riviera Beach Municipal Firemen's Pension Trust Fund
0 St. Lucie County Fire District Employees Health and Welfare Trust
0 St. Lucie County Fire District General Employees Pension Fund
0 St. Lucie County Fire District Firefighters Pension Fund
0 Sunrise General Employees Retirement Plan
0 Venice Police Officers' Pension Fund
0 West Palm Beach Firefighters Benefit Fund
0 West Palm Beach General Employees' Pension Fund
0 West Palm Beach Firefighters Pension Fund
0 US Sugar Corporation
0 US Sugar Benefit Plan
Some Additional Professional
Working Relationships
0 Actuarial Sciences Associates, Inc. (Actuary)
0 Adalante (Investment Manager)
0 Allegiance Capital (Investment Manager)
0 Alliance Bernstein & Co. (Investment Manager)
0 Ark Asset Management (Investment Manager)
0 Amsouth Bank (Custodian)
0 Anchor Capital Management (Investment Manager)
0 Aon Consulting (Actuary)
0 Artisan (Investment Manager)
0 Ark Asset Management (Investment Manager)
0 Asset Consulting Group, Inc. (Investment Monitor)
0 Axiom International Investors (Investment Manager)
0 Bank of America (Investment Manger)
0 Bank of New York (Custodian)
0 Barclay Global Investments (Investment Manager)
0 Barrow Hanley (Investment Manager)
0 Bogdahn Consulting (Investment Monitor)
0 Bollenback & Forret (Accountant)
0 Boston Company (Investment Manager)
0 Buck Consultants (Actuary)
0 Buckhead Capital Management (Investment Manager)
0 Burgess Chambers & Assoc. (Investment Monitor)
0 Caler Donten Levine (Auditor)
0 Capis (Commission Recapture)
0 Cherry, Bekaert, and Holland, CPA (Accountant)
0 Chicago Equity Partners (Investment Manager)
0 Christiansen & Dehner (Attorney)
0 Citigroup (Custodian)
0 Ron Cohen (Attorney)
0 Cook & Bieler (Investment Manager)
0 CS McKee (Investment Manager)
0 Cypen and Cypen (Attorney)
0 Dana Investment Advisors (Investment Manager)
0 Davis, Hamilton, and Jackson (Investment Manager)
0 DePrince, Race, and Zollo (Investment Manager)
0 Dodge & Cox (Investment Manager)
0 Donaldson & Company (Commission Recapture)
0 Dulaney & Company (Actuary)
0 Earnest Partners (Investment Manager)
0 EFI Actuaries (Actuary)
0 Ernest & Young (Accountant)
0 Fidelity Federal Bank & Trust
0 Fiduciary Trust International of the South (Custodian)
0 First Union (Custodian)
0 Florida Division Retirement
0 Foster and Foster (Actuary)
0 Gabelli Asset Management (Investment Manager)
0 Gabriel, Roeder, Smith and Company (Actuary)
0 Geneva Capital Management (Investment Manager)
0 Goldman Sachs (Investment Manager)
0 Steve Gordon, CPA (Accountant)
0 Haas Diaz & Company (Auditor)
0 Hanson, Perry, & Jensen, P.A. (Attorney)
0 Harris Associates (Investment Manager)
0 Intech (Investment Manager)
0 ICC Capital Management (Investment Manager)
0 ICMA (Investment Manager)
0 Income Research & Management (Investment Manager)
0 Invesco Capital Management (Portfolio Manager)
0 IronBridge Capital Management (Investment Manager)
0 JP Morgan (Investment Manager)
0 Kalson & Associates (Investment Monitor)
0 Kennedy Capital Management (Investment Manager)
0 Key Trust (Custodian)
0 Koch, Reiss & Company (Auditor)
0 KPMG (Auditor)
0 Loomis Sayles & Company (Investment Manager)
0 Lynch Jones Ryan (Commission Recapture)
0 Matrix (Custodian)
0 Mercator (Investment Manager)
0 Meridian Capital Partners (Investment Manager)
0 Merrill Lynch Consulting Services (Investment Monitor)
0 MFS Institutional (Investment Manager)
0 Mierzwa and Associates (Attorney)
0 Milberg Weiss (Securities Litigation)
0 Milliman USA (Investment Monitor)
0 Montag & Caldwell (Investment Manager)
0 Northern Trust (Custodian)
0 NWQ Investment Management (Investment Manager)
0 Oechsle International (Investment Manager)
0 PIMCO (Investment Manager)
0 Pine Grove Associates (Investment Manager)
0 Prime Buchholz & Assoc. (Investment Monitor)
0 Pine Grove Associates (Investment Manager)
0 Principal Global Advisors (Investment Manager)
0 Prudential Securities (Investment Manager)
0 Public Pension Professionals (Actuary)
0 Rayborn & Co. (Investment Manager)
0 Richmond Capital Management (Investment Manager)
0 Rittenhouse Financial Services (Investment Manager)
0 Rhumbline (Investment Manager)
0 Roanoke Asset Management (Investment Manager)
0 Ruden (Attorney)
0 Robert Klausner (Attorney)
0 Salem Trust Company (Custodian)
0 Sawgrass Asset Management (Investment Manager)
0 Segal Company (Actuary)
0 Schiffrin & Barroway (Securities Litigation)
0 Smith Barney (Investment Monitor)
0 Stanley, Holcombe & Associates (Actuary)
0 State Street Global Advisors (Investment Manager)
0 Strong Capital Management (Investment Manager)
0 Sugarman and Susskind, P.A. (Attorney)
0 SunTrust Bank (Custodian)
0 Systematic Financial Management (Investment Manager)
0 Taplin Canida & Habacht (Investment Manager)
0 Thompson Segal Walmsley (Investment Manager)
0 Torray (Investment Manager)
0 Wachovia Bank (Custodian)
0 West Cap (Investment Manager)
0 Westwood Management Corporation (Investment Manager)
0 William Blair & Company (Investment Manager)
THE PENSION RESOURCE CENTER
BIOGRAPHIES OF PRIMARY STAFF
APPENDIX: SECTION C
Resource Centers
Organization Chart
J. Scott Baur
Deruse tvicNea Partner
CEO, Resource Centers
Administrative
Services
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J. SCOTT BAUR
Scott Baur founded the Pension Resource Center in 1996 to offer plan administration services
to municipal, Chapter 175, Chapter 185, local law pension plans, and VEBA programs in the
State of Florida. He also founded the Financial Resource Center, which provides benefit
consulting services to health and welfare trusts and financial services to individual clients. In
2005 the Resource Centers expanded to include the systems and personnel to offer defined
contribution plan administration and recordkeeping services as well. The Resource Centers
have grown to become one of the largest providers of benefits and services to public
employees in Florida. Scott is widely known as a professional speaker on plan
administration, investment, and retirement topics. He has conducted seminars and workshops
for pension trustees, industry professionals, and plan participants.
Scott Baur graduated from Virginia Tech, where he received degrees in Architecture,
Engineering, and Math. He also taught in the College of Architecture at Virginia Tech and
served as the director for a research center funded by a coalition of government agencies.
During this time, Scott published numerous papers in academic journals. Scott Baur
originally received training on the use and design of pension plans as a representative and
trainer for MetLife, where he later participated in the design of MetLife's pension plans for
small employee groups. He has since established defined benefit and contribution plans for
employees, including municipal deferred compensation plans, 401(k) plans, 403(b) plans,
voluntary employee benefit associations (VEBA plans), and other employee benefit
programs.
Scott and his firm are members of the FPPTA (Florida Public Pension Trustee Association),
IFEBP (International Foundation of Employee Benefit Plans), Sungard Users Group, and the
National Association of Insurance and Financial Advisors. He has served as both an Elder
and Treasurer in his church, and he continues as an advisor or director to a number of local
charitable organizations. He has participated in the Congressional Business Commission and
the Business Advisory Council. He has also acted as a court qualified expert witness on
pension, asset, and investment matters in Florida. The website for the Resource Centers,
www.ResourceCenters.com, contains many additional Trustee and plan resources, as well as
specific and detailed information regarding many Chapter plans.
ELLEN SCHAFFER, SOFTWARE CONSULTANT
Ms. Schaffer works with the Pension Resource Center on a contract basis. She is a software
consultant and programmer specializing in Florida public pensions. She has been working
with governmental pension plans for nearly fourteen years and has developed programs to
accurately track and value DROP accounts. She also has programs designed to manage
employee contributions and calculate participant pensions. The Cities of Boca Raton,
Boynton Beach and Fort Lauderdale, in addition to more than a dozen other pension systems,
currently use her programs.
MARGARET M. ADCOCK, ESQ.
Margaret M. Adcock joined the Pension Resource Center as President and General Counsel.
She also serves as General Counsel for The Financial Resource Center as well. She oversees
the administration of our many public pension plans. Margie holds a Juris Doctor Degree and
is an active member of The Florida Bar.
Prior to joining the Resource Centers, Margie was associated with a labor law firm for over
eight years where she provided legal representation almost exclusively in the area of
employee benefits law. Her representation primarily focused on public sector and multi -
employer pension and health and welfare funds throughout the State of Florida. In her legal
representation of such plans, Margie drafted ordinances, plan documents, and contracts;
handled Internal Revenue Service, Department of Labor, and other governmental filings;
represented trust funds in litigation on all benefit issues and delinquent contributions; and
participated in trust meetings and advised fund trustees in all aspects of fund administration.
Margie received her Bachelor of Science degree in Business Administration from Marquette
University in Milwaukee, Wisconsin, and her Juris Doctor Degree from Saint Louis
University School of Law in St. Louis, Missouri. Margie was admitted to The Florida Bar on
October 18, 1991, and is a member in good standing. She is also admitted to practice in the
United States Court of Appeals for the Eleventh Circuit and the United States District Courts
for the Southern and Middle Districts of Florida. She routinely speaks on employee benefit
issues at the Florida Public Pension Trustees Association's various conferences. Margie is
also a member of the American Bar Association.
DENISE MCNEILL
Denise M. McNeill joined the Pension Resource Center and the Financial Resource Center as
Chief Financial Officer when they were founded in 1997. In addition to handling daily
operations of both the Pension Resource Center and the Financial Resource Center, Denise
also serves as a Benefit and Plan Administrator for our many public pension plans and
employee benefit plans. Denise is known as a professional speaker on retirement topics,
benefit administration and business management.
Denise joined the Resource Centers after several years in customer service, billing
management and finally marketing, with a large international corporation where she received
several awards for service excellence. She began her career with pension and benefit
administration as an agent with New York Life and a representative of NYLIFE Securities.
Denise has an Associates degree in Computer Science. Denise remains active in the
community and has previously served as an Ambassador for the Stuart/Martin County
Chamber of Commerce, member of Women's Council of Realtors of Stuart/Martin County,
volunteer for a local chapter of Habitat for Humanity, PTO Secretary for her daughter's
school and teacher of Children's Liturgy for her church.
ED SCOTT CPA
Ed Scott, a CPA with extensive consulting experience to human resources departments,
oversees the internal controls and procedures for services provided through the Financial
Resource Center. Ed Scott has significant and recognized success in specialized and
technical financial reporting, corporate accounting, tax reporting, strategic planning, and
management information systems.
As Controller for Aircraft Service International Inc., an international corporation
headquartered in Miami, Ed was responsible for the tracking, documentation and control of
up to $44M in annual financial volumes, with management and supervisory oversight of
financial reporting. As Controller, he also supervised the administrative support staff of more
than 13 people. He was also responsible for formulating annual operating budgets, accounts
payable and receivable, payroll, state and federal tax reporting, depreciation schedules,
preparation for and execution of audits, and maintenance of mainframe and PC computer
information systems. Ed has acted as a Corporate Controller, Assistant Controller, Corporate
Treasurer, Accounting Supervisor, Budget Officer, and Staff Training Director and Manager.
Ed maintains his designation as a CPA. He received a Chartered Corporate Secretary (ACIS)
Degree from the Institute of Chartered Secretaries and Administrators in London, England.
He also has a Baccalaureate Degree of Business Administration from the University of
Miami. He actively continues his education on current issues; multi -state reporting protocols
and guidelines; sales, intangible, property, payroll, and income taxes; and Federal and Sate
audit procedures and protocols.
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r ttiiti THE PENSION RESOURCE CENTER
TABLE OF CONTENTS
PROPOSAL SECTION
Executive Summary 0
The Pension Resource Center, LLC 0
Mission Statement and Beliefs
Overview
Emphasis: Quality and Value
Administrative Services
Technology Overview
Fee Proposal
APPENDIX
(ADDITIONAL INFORMATION)
Fidelity Bond/ Coverage For Errors And Omissions A
Client List B
Biographies of Primary Staff 0
Table of Contents
(� THE PENSION RESOURCE CENTER
PROPOSAL ITEMS:
Section 1. Executive Summary
Section 2. Pension Resource Center
Section 3. Administrative Services
Section 4. Technology Overview
Section 5. Fee Proposal
SECTIONS 1 -5
THE RESOURCE CENTERS
The Pension Resource Center is pleased to submit a proposal to the Village of
Tequesta General Employees' Pension Fund for plan administration services. We
strongly believe that we add significant value to the services we provide to the Board
and to the members of each plan, through both our staff and the resources available to
our firm. We have proven leader in bringing technology typically found only in
much larger plans to all of our clients as well. Even though we manage these
resources well, we still recognize that the administration of a public pension plan
comes down to people. We care about the people that we employ, just as we care
about each member in each plan that we have the privilege to serve.
When began to provide plan administration services to our first public pension client
in 1996, we were excited about the future and energized by the relationships that we
enjoyed with our clients. Although we have grown since that time, we continue to
hold onto the character and values that we had when we first started. We had our first
office in three small rooms located on Tequesta Drive, and many of our employees
continue to live in the area. Should the Trustees extend to us the honor to serve your
Board and the members of your plan, then we will have the unique opportunity to
return home to our roots. On behalf of my staff, I want to thank you in advance for
considering our firm.
III THE PENSION RESOURCE CENTER
OVERVIEW:
PENSION RESOURCE CENTER LLC
SECTION 2
THE RESOURCE CENTERS
Our
M ISSION The Pension Resource Center and its affiliates offer
administrative services to its group pension clients and retirement planning services
to the individual participants. We are committed to providing the highest level of
service to our clients. With every decision we make, we have one overriding
purpose: To be available when our clients need us.
Our
B ELIEFS We are a company founded on strong beliefs, beliefs that
manifest themselves in the way we do business, through our employees, and in the
services we provide.
We believe in FINANCIAL STRENGTH. We will only represent products to
our clients from companies that also maintain a strong financial position.
We believe in INTEGRITY. We believe adherence to the highest standards of
integrity is the principal measure of the success of our products, our dealings with our
clients, and our contributions to society. Our integrity keeps us dedicated to
providing our clients with value and financial security in the products we offer and
quality and responsiveness in the services we provide.
And most of all, we believe in HUMANITY. We believe in treating both our
clients and our employees with compassion, consideration, and respect. Our business
is unique in that we possess the ability to help people provide for and secure their
futures, and our enduring belief in humanity keeps us from losing sight of this fact.
We know that the work we do makes a difference in the lives of the people that we
serve.
anientemmomiumer
4 verview
The Resource Centers have grown rapidly to become one of the largest providers of
benefits and services to public employees in Florida. At the same time, we bring the
added focus, incentive, and commitment to our work that only a smaller firm can
provide. The Pension Resource Center specializes in the administration of municipal,
Chapter 175, Chapter 185, and local law pension plans. The Benefit Resource
Center, meanwhile, provides benefit consulting services to public employees, Taft -
Hartley plans, and health and welfare trusts. We also offer options to participants of
DROP Plans to self - direct the investment of their assets. Through all of these
activities, we have developed an awareness and sensitivity to the concerns of both the
trustees and the plan participants regarding their selection and use of various benefits.
Our commitment to service and excellence remains our highest priority.
The Resource Centers are always committed to bringing only the finest resources and
expertise to our clients, evidenced by the quality of our principal staff. Scott Baur
founded the Resource Centers in 1997, providing benefits and services to participants
of bargaining units in the public sector. Scott is widely known as a professional
speaker on plan administration, investment, and retirement topics. He has conducted
seminars and workshops for both plan trustees and participants. Denise McNeill
offers years of experience in benefit administration, accounting, and personal service
to the plan participants. Margie Adcock, an active member of the Florida Bar,
provided legal representation to public pension and benefit plans for eight years prior
to joining the staff of the Resource Centers as General Counsel and Plan
Administrator. Ed Scott, as a CPA with extensive consulting experience to human
resource departments, oversees the internal controls and procedures for services
provided through the Resource Centers. The Resources Centers have additional staff
with considerable experience in all aspects of pension administration.
Based on this combination of experience with qualified plans, retirement planning,
and public benefits administration, the Pension Resource Center has both the
resources and the expertise to provide administrative services to the Village of
Tequesta Pension Funds.
Our Mission:
♦ Organization
♦ Accessibility
♦ Service
♦ Communication
Organization
We offer a systematic approach to maintaining records for each fund, using the most
advanced and comprehensive integrated database management tools on the market
today. We also have a programmer on staff to tailor these programs to the
requirements of each client. Thus, we can provide information to the trustees and
participants in any useful format as needed.
Accessibility
We have one overriding purpose: To be available when our clients need us. We will
serve not only the trustees, but each active participant and retired beneficiary of your
fund.
Service
We believe that each participant in the fund deserves our respect and consideration.
We look forward to demonstrating to you the commitment to excellence that we offer
all our clients.
Communication
We consider communication with the trustees and the participants of the fund of the
highest importance. In addition to traditional forms of communication, the Pension
Resource Center also offers Internet access to bring timely information to the
participants of your fund.
♦ State of the Art
The Pension Resource Center utilizes the latest technology and computer software to
administer your Pension Fund. With the assistance of this technology, we can provide
you with accurate benefit calculations and estimates, bookkeeping services, electronic
transfers of funds, and interface with payroll software.
The Trustees and Participants can access the Virtual Pension Office through the
Internet, via our web page at www.ResourceCenters.com:
♦ Pension Plan documents.
♦ Minutes.
♦ Recent Plan investment performance.
♦ Forms and applications.
♦ Links to State Laws.
♦ Other Board selected and customized information.
Value Added:
• Experience
♦ Integrity
The Pension Resource Center specializes in the administration of benefits for public
employee groups. We also bring extensive experience on the design and installation
of qualified pension plans and ERISA guidelines. Because we provide financial
services and products to many clients on an individual basis, we can also address the
special needs of each participant as well.
We will be pleased to offer references from both the trustees and the participants for
the plans that we currently serve.
IIII II THE PENSION RESOURCE CENTER
ADMINISTRATIVE SERVICES
SECTION 3
hfministrative Services
As a fiduciary, the Trustee shall discharge his or her duties with respect to
a Plan solely in the interest of the participants and beneficiaries for the
exclusive purpose of providing benefits to the participants and their
beneficiaries and defraying reasonable expenses of administering the Plan.
(Section 112.656(1), Florida Statutes)
The Pension Resource Center will help you satisfy the fiduciary obligation that you
have to your Plan and its participants. We believe that we work for all the
participants of the Plan, even while we remain accountable to the Trustees for our
performance. We also offer an organized approach to maintaining the records and
systems essential to the operation of your Plan, so that your Plan operates smoothly at
all times. Finally, we have the expertise to back our commitment to you. We know
how to provide the support that you require as a Trustee, allowing you to run your
Plan more effectively.
The Pension Resource Center Offers:
D Ability to Provide the Services Required by the Plan and Trustees
D Experience, Familiarity with Local, State, and Federal Laws
▪ Personal Service
D Accessibility to Trustees and Participants
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• Attendance At Public Pension Fund Meetings, Including:
0 Notice
0 Agenda
0 Minutes
The Pension Resource Center will post notice for all public
meetings of Trustees. We will distribute the Agenda to the
Trustees in advance of the meetings, and we will take the minutes
at the meeting.
♦ Monthly Pension Check Payments:
0 Check
0 Direct Deposit (EFT)
We will make monthly pension payments in the manner requested
by the retired participant.
♦ Annual Participant Benefit Statements
We believe that each participant in the Pension Fund can plan for
the future effectively only after properly understanding the
available benefits and options. Our employee communications are
designed to simplify the significant features of the retirement
benefits so that employees can make appropriate decisions about
retirement based on their individual circumstances.
• Unaudited Monthly Financial Statements
Just as effective communication is important to the individual
participants of the Pension Fund, proper communication is also
essential for the Trustees to manage their Fiduciary obligations to
the participants of the Pension Fund. The monthly financial
statements represent one of the significant tools available to the
Trustees to monitor various aspects of the financial performance of
the Pension Fund.
• Monthly And Annual Reconciliation Of Accounts
We reconcile accounts monthly and annually at a minimum, more
frequently if necessary. We exercise every diligence as we assist
the Trustees in the performance of their fiduciary obligations to the
Pension Fund.
• Records Custodian For Fund
The Pension Resource Center will maintain all public records
associated with the Pension Fund. We will make records available
to the Trustees, participants, or other interested parties upon
request. Because we have the ability to manage our data systems
internally, we can provide financial information in any format
required by the Trustees.
• Coordination Of Service Providers
• Fund Correspondence
Timely communication with the respective service providers keeps
the Pension Fund operating smoothly and prevents issues from
developing into problems.
♦ Monthly Tax Deposits
The Pension Resource Center completes both deposits and
reporting to the IRS promptly and accurately.
♦ Process Benefit Applications
We will provide the information that participants need to make
decisions about their future, and we will help each participant file
the necessary applications for retirement.
♦ Preparation Of Government Reports
We will complete the annual report to the State of Florida, along
with the auditor and the actuary for the Pension Fund. Accurate
reporting ensures compliance with the requirements of the State.
♦ Routine Communication To Participants
• Conduct Pension Overview Workshops For Participants
• Internet Web Site Access To Fund Information
♦ Local Administrative Office Accessible To Participants And Retirees
• Professional, Knowledgeable Staff
♦ Personal Service
Effective communication with the participants of the Pension Fund can
take many forms. The typical Trustee works to enhance the function of the
Pension Fund and the benefit to each participant; the quality of such
communication then determines the quality of the benefit that the
participant will derive from the Pension Fund.
(III THE PENSION RESOURCE CENTER
TECHNOLOGY OVERVIEW
SECTION 4
THE PENSION RESOURCE CENTER Virtual Pension Office
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THE RES CENTERS
The Pension Resource Center utilizes the latest
technology and computer software to administer your
Pension Plan. With the assistance of this technology, we
can provide you with current Plan information,
bookkeeping services, electronic transfers of funds, and
interface with payroll software. The participants of your
Pension Plan, meanwhile, can access Plan documents,
common forms and applications, and our online benefit
calculation and account inquiry systems.
The Trustees and Participants gain entry to the Virtual
Pension Office through the Internet, via our web page at
www.ResourceCenters.com:
♦ Pension Plan documents.
♦ Board approved minutes.
♦ Recent Plan investment performance.
♦ Forms and applications.
♦ Links to other service providers.
♦ Links to State Laws.
♦ Other Board selected and customized information.
♦ Plan Email box.
THE PENSION RESOURCE CENTER Virtual Pension Office
Online Resources for
Village of Tequesta Pension Funds
PENSION FUNDS
Separate web page
maintained
Nome City of Sunrise
specifically for the
General Employees° Retirement Plait P Y
: Resource Centers Village of Tequesta
Benefit Funds
Pension Funds
Trusts -' Richard Salomon, Chairman Rosalind Germ, Trustee Pension Funds
individual Client Services
Paul Mink, Secretary Dean Dickey Trustee
Don Campbell, Trustee John Rizzo, Trustee
Important Links Ruth Castellon,Trustee Patti Bauer, Alternate Trustee
Local Ordinance Map to Office
and Summary Plan Contact us . Do• Loca Plan Ordinance Llnkl Summary Plan Descriptions
Description Chapter it No na anage ent
y
Senior Management
Minutes: B approved
Minutes
Common forms and
r Applicetlon for Retirement Designation of Beneficiary
applications • W -4P Federal lncomeTae 004 "I "
1nbtAcobat Reads Direct Deposit Soecial Tax Notice
0 requred 0 geY Chance of Address
many of the documents
do rids see. YoU Can
download k free.
by cickeg below Plan Contact
Ad stlzlon - The Pension Fund Is administered by The Pension Resource Center. •
We can be reached at 561- 624-3277 or 1- 800- 2W-Ct16. Information
Selvoce-,' Actuary Investment Manage re
Gabriel, Roeder, Smith & Company Allegiance Capital Inc
OeRw grant corn woo allegiancecangal corn
Attorney Ark Asset Management
Klausner & Kaufman, P.A Iwo the -ark co
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Axiom International Investors
Links to web Auditor an-me o:rest corn
Koch Reiss
resources provided wwn.kr -ooa tarn The Boston Company
thebostcncom°an
by other Plan war y.eorn
Custodian
Salem Trust Company Davis, Hamilton, Jackson & Assoc
service providers >•wvoalemtrustcom waw.dfaa.can
Investment Advisor PIMCO (Fixed Income & Equdy)
Kalson & Associates worn nimco,cOrn
wwn gkalson caR]
Systematic Financial Management
yevw simis.com Recent investment
Fund P view the highlights on the latest investment performance firths Fund: • performance
Investment Performance Thos is lane file end It 'seed to eownload the file
to your own oompmer. Just nex5olid on the 1125
and seleot IaaveTarpet All and ague b goo,
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Online Benefit Calculation and
or Account Inquiry System Icon
Online Benefit Calculator
Questions?
TequestanResourceCenters. com
sr (800) 206 -0116
Announcing ... THE PENSION RESOURCE CENTER Virtual Pension Office
Online Benefit Calculation & Account Inquiry System
Go To
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A ? Pensimt Funds ,Tru Ed Mitchell, Chairman Chris Roaf, Trustee
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--� Jonathan Frost, Secretary Wil White, Trustee
Individual Client Services Chris Fragakis, Trustee
Important Links
Map to Once Meeting Dates: Wed. April 7, 2004 8:30 AM PBA Hall
- 2100 N. Florida Mango Road
Contact Us West Palm Beach, FL 33409
(561) 689 -3745
Select Village of Tequesta - Plan Documents: ,aoecialAct Summary Plan Description
Click on the "Benefit Calculator" Icon �- !
r
For Pension Benefit Projections Onli a February 20 2003
circulator August 15,20(13 March 10,2003 September 122003
March 21.2003 October 172003,
April 1827813 Novenlber212003
May 920103 tl cemher 19''
,tune 19 27103 January 182004
Select Village of Tequesta July 3 = Febru 201
Click on the "Account Inquiry" Icon
DROP & Share
For Share & DROP Account Balances Account Balances r.,,,,, - 711 f. , 1 f i R: it :r .n
- - W-40 Federal Income Tax 2004
$oecial Tax Notice
Adobe Acrobat Reader Aooliratrnn for Disability
is required to view Aoplieatinn far Distribution of Share Account Balance
many of rho documents Asshcatian fora DROP Loan
on this :ate 'You can Apollo atinn for Rollover of Funds
The Pension Resource Center, is pleased downbad it free. Aophc.ation for Distrbution of DROP Account Balance
by clnking below: Credit Union Deduction Authorization
to release our newest service, an online
(29yjanation of Beneficiary
pension benefit calculator and account Direct Deposit
Hartford Enrollment for Retirement
inquiry system! From our website, you are Refund of Contributions
Retiree's Insurance Deduction Authorization
now able to prepare accurate individual
Administrator The Pension Fund is administered by The Pension Resource Center
_
retirement projections based upon your - -._ We can be reached at 561- 624 -3277 or t- 80(1206 -0116 .
personal service history and payroll
information- To access the internet Service Providers: Accountant Investment Manaaedsl
- Cherry, Bekaert, & Holland Davis, Hamilton, Jackson & Assoc
pension benefit calculator, please visit www.cbh.com www dhia oom
your Pension Fund's web page at Actuary Invesco Capital Management, Inc.
Gabriel, Roeder, Smith & Company wvwv.invesco com
www.ResourceCenters.coin and click on , sme! , uxt
West Cap
the "Online Benefit Calculator" button to
Attorney wvvv rroestcapirn com
Hanson, Perry, &Jensen, P.A
the left. Please be patient, as the site will
Investment Monitor
Custodian Smith Bamey Consulting Group
likely be very busy from the news of this Salem Trust Company unnav smrthbarney com
ono salemirust com
announcement.
View the highlights on the latest investment performance of the Fund,
Questions? Investment Performance k:,1,g. nmb.nlaadawno,am.
pre voar . aomr, user dr,rna la on r m. pier
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THE PENSION RESOURCE CENTER Virtual Pension Office
Online Benefit Calculation & Account Inquiry System
Disclosure Page
PENSION FUNDS
Home ON -LINE BENEFIT CALCUI CALCULATOR
About Resource Centers
Benefit Funds
Security & Privacy; This site employs an Industry-standard protocol
Pension Funds (SSL technology) for secure communications
Individual Client Services between our server and your browser. This
technology provides the following components of W ws„
Important Links secure online transactions; authentication,
message privacy and message integrity. Every
Map to Office reasonable effort is made to protect the security of all personally
Contact Us identifiable data located on this site. In addition. all personally
identifiable information is not made available to any other parties.
Benefit Calculator: °' This page provides an estimate of a Plan member's monthly
retirement benefits based on data supplied by the employer and
additional information provided by you. Projections of retirement
benefits are based on continuation of your present pay and full -
time service until you become eligible to retire. Every effort has
been made to insure that calculations provided to you in this
manner are accurate, but they are only estimates and data and
calculation errors can occur. Statutes, documents, official
interpretations, and accurate data necessarily govern the final
determination of any benefit. For a precise calculation, please
contact your Plan Administrator.
Terms 8 Conditions By accessing this site. I hereby agree that the information provided
represents only an estimate of my pension benefits and the final
determination of benefits must by made by the actuary engaged by
the Plan in accordance with statutes and ordinances in effect at
the time that I retire. I further agree to indemnify and hold
harmless the Plan, the Board of Trustees, the Trustees (individually
and as Trustees), and the Plan Administrator for any decisions that
I make based on the information received from this site.
9 flaw I l)i >.igtee
1
THE PENSION RESOURCE CENTER Virtual Pension Office
Online Benefit Calculation & Account Inquiry System
Input Screen
THE RESOURCE CENTERS
Pension Benefit Calculator
Home Fund West Palm Beach Police
Social Security Number ( xxx- xx -xxxx format
Birth Date mm /dd /yyyy format
Name
Birth Date I mm/dd/yyyy format
Last Day of Service I mmlddlyyyy format
Pension Commencement
Date' mm/dd/yyyy format
Email Address " 1 ie, johndoea@aol.com
All fields marked with " are required.
Calculate
Please click only ONE time, the calculation may take up to 60 seconds
Any Questions? Contact us wpboolice@resourcecenters.com
THE PENSION RESOURCE CENTER Virtual Pension Office
Online Benefit Calculation & Account Inquiry System
Output Screen
Village of Tequesta Pension Funds
Estimated of Pension Benefits Prepared For: Employee
Date Prepared: 05/20/2004
Service Information
Calculation Based Upon Service of: 25 Yrs 0 Mos
Calculation Based Upon Monthly Final Average Salary of: $6247
Calculation Based Upon Final Service Date of: 10/01/2009
Calculation Based Upon Commencement Date of: 10/02/2009
Type of Retirement (Early, Normal, or Vested Deferred): Normal
Date of Hire: 10/01/1984
Standard Form of Benefit Payment
!Standard Annuity I$4607
Optional Forms of Payment
Date of Birth of Beneficiary: 10/08/1961 Member Survivor
Life Annuity: $4646
Standard Annuity $4607 $3086
100% Joint & Survivor: $4251 $4251
66 2/3% Joint & Survivor: $4445 $2963
50% Joint & Survivor: $4549 $2274
Any Questions? Contact us at Tequesta ResourceCenters.com
Definitions of Optional Forms of Payment:
Standard Annuity - This option provides the stated benefit to you as long as you live. If you are married, your spouse will receive a
monthly benefit, which is equal to 66 2/3% of your monthly benefit. If you are unmarried and you should die before 120 payments have
been made, the payments will continue to be made to your beneficiary until 120 payments have been made in all.
Life Annuity - This option provides the stated benefit to you as long as you live. If you should die before you have received an amount
equal to your own contributions to the Plan, payments will continue to your beneficiary until your own contributions have been used up.
Joint and Survivor - This option provides the stated member's benefit to you as long as both you and your beneficiary are living. After
the death of either you or your beneficiary, the stated survivor's benefit will continue for the life of the remaining person.
This page provides an estimate of a Plan member's monthly retirement benefits based on data supplied by the employer and
additional information provided by you. Projections of retirement benefits are based on continuation of your present pay and
full -time service until you become eligible to retire. Every effort has been made to insure that calculations provided to you in
this manner are accurate, but they are only estimates and data and calculation errors can occur. Statutes, documents, official
interpretations, and accurate data necessarily govern the final determination of any benefit. For a precise calculation, please
contact your Plan Administrator. By accessing this information, you have already agreed that the information provided
represents only an estimate of your pension benefits and the final determination of benefits must by made by the actuary
engaged by the Plan in accordance with statutes and ordinances in effect at the time that you retire. You have already further
agreed to indemnify and hold harmless the Plan, the Board of Trustees, the Trustees (individually and as Trustees), and the
Plan Administrator for any decisions that you make based on the information received from this site.
III II THE PENSION RESOURCE CENTER
FEE PROPOSAL
SECTION 5
*__i__,, „ . - - -
- __.
P and Fees
The Pension Resource Center will provide administrative services to the Board of
Trustees for the Village of Tequesta Public Safety Pension Trust Fund, subject to the
current fee schedule and following limitations:
• Fees will include all normal travel to provide services to the Trustees and
participants. Should the Trustees require any special travel (Tallahassee, for
instance), the Retirement System shall reimburse the additional travel expenses to
the Pension Resource Center as required in the performance of duties related to
the administration of the plan.
• As noted in the specimen contract, such items as printing charges and postage for
mass mailings will be billed at the actual expense for the cost of postage and
payroll for preparation. Normal costs incurred for copies and postage for
correspondence are included in the fee quoted.
• The Pension Fund shall provide a current copy of the plan document to the
administrator, updated as required to maintain compliance with current
regulations. The Pension Fund, along with appropriate counsel, shall bear the
responsibility and any liability related to the maintenance of the plan documents.
• The Proposal includes up to 4 quarterly and 2 other meetings per plan year.
Additional meetings will be billed at a rate of $350.00 per meeting.
Proposa(and Fees
The fee paid by the Pension Fund shall include the following services requested by the
Village of Tequesta:
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 participants
• Provide Internet access to basic plan information
• Maintenance of contact lists (Boards and Service Providers)
• Manage pending matter lists
• Elections
o Notice of elections
o Coordination of elections
o Notify Village Clerk of elected boards after elections for submittal 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
Plan and Policy Changes
• 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
o Assist with changes and updates
o File updated copies with the Village Clerk
• Investment Policy
o Assist with changes and updates
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 contracts
• Review all service provider pay requests and submit to board for approval
• Process all approved pay requests
• Review all statements /reports from service providers and respond to inquiries
from the boards relating to the statements /reports
Public Records 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
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 participants
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 plan
• 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
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
Village of 2equesta
Public Safety Pension Trust Fund
Plan Administration
Item Fee
Full Administrative Services: Public Safety Pension Fund $1100.00
Discounted Fee (Both Boards) $950.00
Conversion Fee (System Programming Charge, If Applicable) (Actual Cost)
Additional Meetings (Above 6 per plan year) $350.00
Set -Up Fee: Per Disability Or Retirement Application $100.00
Fee Per Medical Records Request (Disability Application) $25.00
Rate Guarantee 2 Years
IIIII THE PENSION RESOURCE CENTER
APPENDIX
APPENDIX: SECTIONS A-C
III II THE PENSION RESOURCE CENTER
FIDELITY BOND/
ERRORS AND OMISSIONS
APPENDIX: SECTION A
Fidelity Bond/
Coverage for
Errors and Omissions
The Pension Resource Center shall maintain at least $1,000,000.00 coverage for
Errors and Omissions and appropriate Fidelity Bond. Proof of coverage will be
offered prior to assuming administrative duties for the Pension Fund.
(I I I I I THE PENSION RESOURCE CENTER
CLIENT LIST
APPENDIX: SECTION B
References
Defined Benefit Recordkeeping & Administration Clients
Through the Pension Resource Center:
0 Amalgamated Transit Union Local 1596 Pension Plan
0 Boynton Beach General Employees Pension Fund
0 Cape Coral Firefighters Pension Fund
0 Cape Coral General Employees Pension Fund
0 Cape Coral Police Pension Fund
0 Daytona Beach Police & Fire Pension Fund
0 Deerfield Beach Police Pension Fund
0 Delray Beach Firefighters and Paramedics Retiree Benefit Fund
0 Fort Pierce General Employees Pension Fund
0 Fort Pierce Police Pension Fund
0 Hallandale Beach Police & Fire Pension Fund
0 Jupiter Police Pension Fund
0 Lake Park Police Pension Fund
0 Lake Worth Division I Firefighters Pension Trust Fund
0 Lake Worth Division II Firefighters Relief and Pension Fund
0 Lake Worth General Employees Retirement System
0 Lake Worth Police Officers Retirement System
0 Lantana Firefighters' Pension Fund
0 Miami Springs General Employees Retirement System
0 Miami Springs Police Officers Retirement System
0 Miramar Firefighters Pension Fund
0 North Palm Beach Police & Fire Pension Fund
0 North Port Firefighters' Pension Fund
0 Palm Beach Gardens Firefighters Pension Fund
0 Palm Beach Gardens Police Pension Fund
0 Palm Springs General Employees Pension Fund
0 Palm Springs Hazardous Employees Pension Fund
0 Palm Tran/ ATU Local 1577 Pension Plan
0 Riviera Beach Municipal Firemen's Pension Trust Fund
0 St. Lucie County Fire District Employees Health and Welfare Trust
0 St. Lucie County Fire District General Employees Pension Fund
0 St. Lucie County Fire District Firefighters Pension Fund
0 Sunrise General Employees Retirement Plan
0 Venice Police Officers' Pension Fund
0 West Palm Beach Firefighters Benefit Fund
0 West Palm Beach General Employees' Pension Fund
0 West Palm Beach Firefighters Pension Fund
0 US Sugar Corporation
0 US Sugar Benefit Plan
Some Additional Professional
Working Relationships
0 Actuarial Sciences Associates, Inc. (Actuary)
0 Adalante (Investment Manager)
0 Allegiance Capital (Investment Manager)
0 Alliance Bernstein & Co. (Investment Manager)
0 Ark Asset Management (Investment Manager)
0 Amsouth Bank (Custodian)
0 Anchor Capital Management (Investment Manager)
0 Aon Consulting (Actuary)
0 Artisan (Investment Manager)
0 Ark Asset Management (Investment Manager)
0 Asset Consulting Group, Inc. (Investment Monitor)
0 Axiom International Investors (Investment Manager)
0 Bank of America (Investment Manger)
0 Bank of New York (Custodian)
0 Barclay Global Investments (Investment Manager)
0 Barrow Hanley (Investment Manager)
0 Bogdahn Consulting (Investment Monitor)
0 Bollenback & Forret (Accountant)
0 Boston Company (Investment Manager)
0 Buck Consultants (Actuary)
0 Buckhead Capital Management (Investment Manager)
0 Burgess Chambers & Assoc. (Investment Monitor)
0 Caler Donten Levine (Auditor)
0 Capis (Commission Recapture)
0 Cherry, Bekaert, and Holland, CPA (Accountant)
0 Chicago Equity Partners (Investment Manager)
0 Christiansen & Dehner (Attorney)
0 Citigroup (Custodian)
0 Ron Cohen (Attorney)
0 Cook & Bieler (Investment Manager)
0 CS McKee (Investment Manager)
0 Cypen and Cypen (Attorney)
0 Dana Investment Advisors (Investment Manager)
0 Davis, Hamilton, and Jackson (Investment Manager)
0 DePrince, Race, and Zollo (Investment Manager)
0 Dodge & Cox (Investment Manager)
0 Donaldson & Company (Commission Recapture)
0 Dulaney & Company (Actuary)
0 Earnest Partners (Investment Manager)
0 EFI Actuaries (Actuary)
0 Ernest & Young (Accountant)
0 Fidelity Federal Bank & Trust
0 Fiduciary Trust International of the South (Custodian)
0 First Union (Custodian)
0 Florida Division Retirement
0 Foster and Foster (Actuary)
0 Gabelli Asset Management (Investment Manager)
0 Gabriel, Roeder, Smith and Company (Actuary)
0 Geneva Capital Management (Investment Manager)
0 Goldman Sachs (Investment Manager)
0 Steve Gordon, CPA (Accountant)
0 Haas Diaz & Company (Auditor)
0 Hanson, Perry, & Jensen, P.A. (Attorney)
0 Harris Associates (Investment Manager)
0 Intech (Investment Manager)
0 ICC Capital Management (Investment Manager)
0 ICMA (Investment Manager)
0 Income Research & Management (Investment Manager)
0 Invesco Capital Management (Portfolio Manager)
0 IronBridge Capital Management (Investment Manager)
0 JP Morgan (Investment Manager)
0 Kalson & Associates (Investment Monitor)
0 Kennedy Capital Management (Investment Manager)
0 Key Trust (Custodian)
0 Koch, Reiss & Company (Auditor)
0 KPMG (Auditor)
0 Loomis Sayles & Company (Investment Manager)
0 Lynch Jones Ryan (Commission Recapture)
0 Matrix (Custodian)
0 Mercator (Investment Manager)
0 Meridian Capital Partners (Investment Manager)
0 Merrill Lynch Consulting Services (Investment Monitor)
0 MFS Institutional (Investment Manager)
0 Mierzwa and Associates (Attorney)
0 Milberg Weiss (Securities Litigation)
0 Milliman USA (Investment Monitor)
0 Montag & Caldwell (Investment Manager)
0 Northern Trust (Custodian)
0 NWQ Investment Management (Investment Manager)
0 Oechsle International (Investment Manager)
0 PIMCO (Investment Manager)
0 Pine Grove Associates (Investment Manager)
0 Prime Buchholz & Assoc. (Investment Monitor)
0 Pine Grove Associates (Investment Manager)
0 Principal Global Advisors (Investment Manager)
0 Prudential Securities (Investment Manager)
0 Public Pension Professionals (Actuary)
0 Rayborn & Co. (Investment Manager)
0 Richmond Capital Management (Investment Manager)
0 Rittenhouse Financial Services (Investment Manager)
0 Rhumbline (Investment Manager)
0 Roanoke Asset Management (Investment Manager)
0 Ruden (Attorney)
0 Robert Klausner (Attorney)
0 Salem Trust Company (Custodian)
0 Sawgrass Asset Management (Investment Manager)
0 Segal Company (Actuary)
0 Schiffrin & Barroway (Securities Litigation)
0 Smith Barney (Investment Monitor)
0 Stanley, Holcombe & Associates (Actuary)
0 State Street Global Advisors (Investment Manager)
0 Strong Capital Management (Investment Manager)
0 Sugarman and Susskind, P.A. (Attorney)
0 SunTrust Bank (Custodian)
0 Systematic Financial Management (Investment Manager)
0 Taplin Canida & Habacht (Investment Manager)
0 Thompson Segal Walmsley (Investment Manager)
0 Torray (Investment Manager)
0 Wachovia Bank (Custodian)
0 West Cap (Investment Manager)
0 Westwood Management Corporation (Investment Manager)
0 William Blair & Company (Investment Manager)
M il THE PENSION RESOURCE CENTER
BIOGRAPHIES OF PRIMARY STAFF
APPENDIX: SECTION C
Resource Centers
Organization Chart
J. Scott Baur
Denise McNeill, Partner
— 1 CEO, Resource Centers
Administrative
Services
Corporate Operations
Resource Cantors 1=1
tI iman ROSOUICAPS
M, IM
1 SCOTT BA UR
Scott Baur founded the Pension Resource Center in 1996 to offer plan administration services
to municipal, Chapter 175, Chapter 185, local law pension plans, and VEBA programs in the
State of Florida. He also founded the Financial Resource Center, which provides benefit
consulting services to health and welfare trusts and financial services to individual clients. In
2005 the Resource Centers expanded to include the systems and personnel to offer defined
contribution plan administration and recordkeeping services as well. The Resource Centers
have grown to become one of the largest providers of benefits and services to public
employees in Florida. Scott is widely known as a professional speaker on plan
administration, investment, and retirement topics. He has conducted seminars and workshops
for pension trustees, industry professionals, and plan participants.
Scott Baur graduated from Virginia Tech, where he received degrees in Architecture,
Engineering, and Math. He also taught in the College of Architecture at Virginia Tech and
served as the director for a research center funded by a coalition of government agencies.
During this time, Scott published numerous papers in academic journals. Scott Baur
originally received training on the use and design of pension plans as a representative and
trainer for MetLife, where he later participated in the design of MetLife's pension plans for
small employee groups. He has since established defined benefit and contribution plans for
employees, including municipal deferred compensation plans, 401(k) plans, 403(b) plans,
voluntary employee benefit associations (VEBA plans), and other employee benefit
programs.
Scott and his firm are members of the FPPTA (Florida Public Pension Trustee Association),
IFEBP (International Foundation of Employee Benefit Plans), Sungard Users Group, and the
National Association of Insurance and Financial Advisors. He has served as both an Elder
and Treasurer in his church, and he continues as an advisor or director to a number of local
charitable organizations. He has participated in the Congressional Business Commission and
the Business Advisory Council. He has also acted as a court qualified expert witness on
pension, asset, and investment matters in Florida. The website for the Resource Centers,
www.ResourceCenters.com, contains many additional Trustee and plan resources, as well as
specific and detailed information regarding many Chapter plans.
ELLEN SCHAFFER, SOFTWARE CONSULTANT
Ms. Schaffer works with the Pension Resource Center on a contract basis. She is a software
consultant and programmer specializing in Florida public pensions. She has been working
with governmental pension plans for nearly fourteen years and has developed programs to
accurately track and value DROP accounts. She also has programs designed to manage
employee contributions and calculate participant pensions. The Cities of Boca Raton,
Boynton Beach and Fort Lauderdale, in addition to more than a dozen other pension systems,
currently use her programs.
MARGARET M. ADCOCK, ESQ.
Margaret M. Adcock joined the Pension Resource Center as President and General Counsel.
She also serves as General Counsel for The Financial Resource Center as well. She oversees
the administration of our many public pension plans. Margie holds a Juris Doctor Degree and
is an active member of The Florida Bar.
Prior to joining the Resource Centers, Margie was associated with a labor law firm for over
eight years where she provided legal representation almost exclusively in the area of
employee benefits law. Her representation primarily focused on public sector and multi -
employer pension and health and welfare funds throughout the State of Florida. In her legal
representation of such plans, Margie drafted ordinances, plan documents, and contracts;
handled Internal Revenue Service, Department of Labor, and other governmental filings;
represented trust funds in litigation on all benefit issues and delinquent contributions; and
participated in trust meetings and advised fund trustees in all aspects of fund administration.
Margie received her Bachelor of Science degree in Business Administration from Marquette
University in Milwaukee, Wisconsin, and her Juris Doctor Degree from Saint Louis
University School of Law in St. Louis, Missouri. Margie was admitted to The Florida Bar on
October 18, 1991, and is a member in good standing. She is also admitted to practice in the
United States Court of Appeals for the Eleventh Circuit and the United States District Courts
for the Southern and Middle Districts of Florida. She routinely speaks on employee benefit
issues at the Florida Public Pension Trustees Association's various conferences. Margie is
also a member of the American Bar Association.
DENISE MCNEILL
Denise M. McNeill joined the Pension Resource Center and the Financial Resource Center as
Chief Financial Officer when they were founded in 1997. In addition to handling daily
operations of both the Pension Resource Center and the Financial Resource Center, Denise
also serves as a Benefit and Plan Administrator for our many public pension plans and
employee benefit plans. Denise is known as a professional speaker on retirement topics,
benefit administration and business management.
Denise joined the Resource Centers after several years in customer service, billing
management and finally marketing, with a large international corporation where she received
several awards for service excellence. She began her career with pension and benefit
administration as an agent with New York Life and a representative of NYLIFE Securities.
Denise has an Associates degree in Computer Science. Denise remains active in the
community and has previously served as an Ambassador for the Stuart/Martin County
Chamber of Commerce, member of Women's Council of Realtors of Stuart/Martin County,
volunteer for a local chapter of Habitat for Humanity, PTO Secretary for her daughter's
school and teacher of Children's Liturgy for her church.
ED SCOTT CPA
Ed Scott, a CPA with extensive consulting experience to human resources departments,
oversees the internal controls and procedures for services provided through the Financial
Resource Center. Ed Scott has significant and recognized success in specialized and
technical financial reporting, corporate accounting, tax reporting, strategic planning, and
management information systems.
As Controller for Aircraft Service International Inc., an international corporation
headquartered in Miami, Ed was responsible for the tracking, documentation and control of
up to $44M in annual financial volumes, with management and supervisory oversight of
financial reporting. As Controller, he also supervised the administrative support staff of more
than 13 people. He was also responsible for formulating annual operating budgets, accounts
payable and receivable, payroll, state and federal tax reporting, depreciation schedules,
preparation for and execution of audits, and maintenance of mainframe and PC computer
information systems. Ed has acted as a Corporate Controller, Assistant Controller, Corporate
Treasurer, Accounting Supervisor, Budget Officer, and Staff Training Director and Manager.
Ed maintains his designation as a CPA. He received a Chartered Corporate Secretary (ACIS)
Degree from the Institute of Chartered Secretaries and Administrators in London, England.
He also has a Baccalaureate Degree of Business Administration from the University of
Miami. He actively continues his education on current issues; multi -state reporting protocols
and guidelines; sales, intangible, property, payroll, and income taxes; and Federal and Sate
audit procedures and protocols.