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Home My WebLink AboutAgenda_Pension Public Safety_08/02/2010 AMENDED 08/02/10 * * AGENDA BOARD OF TRUSTEES TEQUESTA PUBLIC SAFETY OFFICERS' PENSION TRUST FUND REGULAR QUARTERLY BOARD MEETING TO BE HELD IN THE VILLAGE HALL COUNCIL CHAMBERS 345 TEQUESTA DRIVE, TEQUESTA, FLORIDA MONDAY, AUGUST 2, 2010 8:00 A.M. * Asterisk indicates no backup provided prior to agenda deadline I. CALL TO ORDER AND ROLL CALL Chair Ed Sabin Secretary Frank D'Ambra Board Member Ray Giblin Board Member Robert Young Board Member David Cooper Attorney Bonni Jensen Pension Coordinator Lori McWilliams Finance Director Joann Forsythe — representing Management Dan Johnson, Bogdahn Consulting LLC — Monitor Tony Brown, Rockwood Capital Advisors Betty Laur, Recording Secretary II. APPROVAL OF AGENDA III. APPROVAL OF MINUTES 1. Joint Meeting Minutes - Tequesta Public Safety Officers' Pension Trust Fund Board of Trustees and Tequesta General Employees' Pension Trust Fund Board of Trustees— May 3, 2010 2. Quarterly Meeting Minutes - Tequesta Public Safety Officers' Pension Trust Fund Board of Trustees — May 3, 2010 3. Special Meeting Minutes - Tequesta Public Safety Officers' Pension Trust Fund Board of Trustees — June 15, 2010 Agenda — Public Safety Officers' Pension Trust Fund Board Meeting August 2, 2010 2 3A. Joint Meeting Minutes - Tequesta Public Safety Officers' Pension TrustFund Board of Trustees and Tequesta General Employees' Pension Trust Fund Board of Trustees— June 15, 2010 IV. PRESENTATIONS* *[PRESENTATIONIREPORT BOOKLETS LOCATED INSIDE BACK COVER OFAGENDA BOOK] 4. Presentation By Investment Manager — Tony Brown, Rockwood Capital Advisors 5. *Specific Thoughts on the Macro Environment and Open Discussion for the Asset Allocations of the Board and how the Macro Environment has Affected the Manager's Decisions within each Portfolio -Ton y Brown, Rockwood Capital Advisors 6. Presentation By Monitor— Dan Johnson, Bogdahn Consulting, LLC V. UNFINISHED BUSINESS 7. *Status of Contract with Pension Resource Center —Attorney Bonni Jensen 8. *Status of IRS Determination Letter — Attorney Bonni Jensen 9. Commission Recapture Documents — Dan Johnson, Bogdahn Consulting, LLC VI. STANDING REPORTS (INFORMATION ITEMS) 10. New applicants for participation in Pension Plan None 11. Request for withdrawal of contributions (employees terminating employment with Village of Tequesta) - Ratification of withdrawals made since the last meeting on 2 signature basis: None 12. Terminated Employees who have not taken their contributions None Agenda — Public Safety Officers' Pension Trust Fund Board Meeting August 2, 2010 3 13. Revenue and Expenditure Report VII. PAYMENTS TO BE RATIFIED (PAYMENTS MADE SINCE LAST MEETING) 14. Business Services Connection, Inc. Office Work for weeps ended 4/16/10 through 7/16/10 $ 1,739.40 Business Services Connection, Inc. Preparation of 5/3/10 Quarterly Meeting minutes 214.08 Business Services Connection, Inc. Preparation of 5/3/10 Joint Meeting minutes (1/2 charged to each board) 133.80 Hanson, Perry & Jensen, P.A. Services through 5/15/10 1,147.37 VIII. PAYMENTS TO BE REVIEWED AND APPROVED 15. Business Services Connection, Inc. Preparation of 06/15/10 Joint Meeting Minutes (1/2 charged to each board) 98.12 Business Services Connection, Inc. Preparation of 06/15/10 Special Meeting Minutes 142.72 * * Perry & Jensen, LLC. Services through 7/15/10 1,783.37 Bogdahn Consulting, LLC Fee for Quarter ending 6/30/10 3,750.00 * * Rockwood Capital Advisors, LLC Fee for Quarter ending 6/30/10 6027.59 Agenda — Public Safety Officers' Pension Trust Fund Board Meeting August 2, 2010 4 IX. BUDGET REPORT 16. Quarterly Budget Report Expenditures— Finance Director Forsythe 17. Adoption of new Budget — Finance Director Forsythe X. NEW BUSINESS 18. *Telephone Conference Call: Discussion with ICMA Representatives regarding DROP Plan — Jason Keene, Associate Counsel, Legal Department - (202) 962 4661 Kecia Kelly, Manager, New Business Unit - ( 202) 962 8098 Cheryl Munroe, Retirement Plans Specialist - ( 202) 682 6443 19. Termination of Contract with Business Services Connection, Inc. — Attorney Bonni Jensen 20. *Revised Pension Benefit Application Process — Attorney Bonni Jensen 21. FPTTA Trustees School September 26 -29 at PGA National Resort, Palm Beach Gardens, Florida —Pension Coordinator McWilliams XI. ANY OTHER MATTERS XII. COMMUNICATIONS FROM CITIZENS XIII. ADJOURNMENT PLEASE TAKE NOTICE AND BE ADVISED: If any person decides to appeal any decision made by this Board with respect to any matter considered at this meeting or hearing he /she will need a record of the proceedings, and that, for such purpose, he /she may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. DISABILITY INFORMATION In accordance with the Americans with Disabilities Act and F.S.S. 286.26, persons with disabilities needing special accommodation to participate in this meeting should contact Lori McWilliams, Village Clerk, no later than seven days subsequent to the proceeding at 561.575.6200 for assistance. If hearing impaired, please call the Florida Relay Service Numbers at 800 - 955 -8771 (TDD) or 800 - 955 -8770 (VOICE) for assistance. APPEAL NOTICE If a person decides to appeal any decision made by the Board, with respect to any matter considered at such meeting or hearing, that person will need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which appeal is to be based. Agenda — Public Safety Officers' Pension Trust Fund Board Meeting August 2, 2010 5 REMINDER SALEM TRUST FINANCIAL STATEMENTS ARE AVAILABLE ON THE VILLAGE'S IMAGING SYSTEM.