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Home My WebLink AboutAgenda_Pension General_08/02/2010 AMENDED 08/02/10 BOARD OF TRUSTEES TEQUESTA GENERAL EMPLOYEES' PENSION TRUST FUND REGULAR QUARTERLY BOARD MEETING TO BE HELD IN THE VILLAGE MANAGER'S CONFERENCE ROOM AT THE VILLAGE HALL 345 TEQUESTA DRIVE, TEQUESTA, FLORIDA MONDAY, AUGUST 2, 2010 1:00 P.M. * Asterisk indicates no backup provided prior to agenda deadline I. CALL TO ORDER AND ROLL CALL Chair Michael D. Rhodes Secretary Carl Hansen Board Member Deanna Mayo Board Member Michelle Gload Board Member John Terzakis Attorney Bonni Jensen Lori McWilliams, Pension Coordinator Finance Director Joann Forsythe — representing Management Dan Johnson, Bogdahn Consulting LLC — Monitor Mike Dana, Dana Investment Advisors — Investment Manager Betty Laur, Recording Secretary II. APPROVAL OF AGENDA III. APPROVAL OF MINUTES 1. Tequesta General Employees' Pension Trust Fund Board of Trustees Regular Quarterly Meeting Minutes — May 3, 2010 2. Tequesta General Employees' Pension Trust Fund Board of Trustees Joint Meeting with Public Safety Officers' Pension Trust Fund Board of Trustees Meeting Minutes — May 3, 2010 3. Tequesta General Employees' Pension Trust Fund Board of Trustees Joint Meeting with Public Safety Officers' Pension Trust Fund Board Agenda — General Employees' Pension Trust Fund Regular Quarterly Board Meeting August 2, 2010 2 of Trustees Meeting Minutes — June 15, 2010 IV. PRESENTATIONS (PRESENTATION BOOKLETS LOCATED INSIDE BACK COVER OF AGENDA BOOK) 4. Quarterly Presentation by Investment Manager — Mike Dana, Dana Investment Advisors 5. Quarterly Presentation by Monitor— Dan Johnson, Bogdahn Consulting, LLC V. UNFINISHED BUSINESS 6. Commission Recapture Documents — Dan Johnson, Bogdahn Consulting, LLC 7. *Status of Contract with Pension Resource Center — Attorney Bonni Jensen 8. *Status of IRS Determination Letter — Attorney Bonni Jensen 9. *Revised Contract with Actuary — Attorney Bonni Jensen 10. *Trustee Election Results — Pension Coordinator Lori McWilliams 11. *Updated Summary Plan Document — Attorney Bonni Jensen 12. *Revised Investment Policy Statement including policy on 3% interest on non - vested withdrawal of contributions and procedure for distributions (Included as backup for this item is list compiled by Board Member Gload of terminated employees who received 3% simple interest on their contribution refunds, as requested at last meeting) - Attorney Bonni Jensen 13. Review of 2005 Agreement with Custodian Salem Trust Company as requested at last quarterly meeting — Attorney Bonni Jensen VI. CONSENT AGENDA 14. Ratification Of Invoices Paid Since Last Quarterly Meeting: • Business Services Connection, Inc. — Office work -weeks ended 4/16/10 through 7116//10 $1,739.40 Agenda — General Employees' Pension Trust Fund Regular Quarterly Board Meeting August 2, 2010 3 • Business Services Connection, Inc. — Attendance, recording and preparation of minutes and synopsis for 513//10 Regular Quarterly meeting $ 410.32 • Business Services Connection, Inc. — Attendance, recording and preparation of minutes and synopsis for 5/3/10 Joint Meeting with Public Safety Officers' Pension Board (1/2 charged to each board) $ 133.80 • Perry & Jensen, LLC. Legal Fees through 5 /15/10 $1,696.29 15. Payments To Be Reviewed And Approved: • Business Services Connection, Inc. Attendance, recording and preparation of minutes and synopsis for Joint Meeting with Public Safety Officers' Pension Board $ 98.12 • * * Perry & Jensen, LLC Legal Fees through 7/15/10 $ 994.87 • Bogdahn Consulting, LLC $2,625.00 Services through 6/30/10 • Dana Investment Advisors $1,870.62 Services through 6/30/10 • Gabriel Roeder Smith & Company $ 300.00 Services through 6/30/10 (Harding benefit calculation) 16. Approval of new applicants for participation in Pension Plan: *Brett Steele —Water Dept. Service Tech Trainee Hire date 5/10/10 17. Approval of withdrawal of contributions: None Agenda — General Employees' Pension Trust Fund Regular Quarterly Board Meeting August 2, 2010 4 18. Terminated Employees who have not taken their contributions *Natasha Hunt Date of Separation 4/22/10 Total Gross $3,939.40 ($3,824.66 + 3% interest $114.74) 20% mandatory withholding $787.88 Total Check Amount $3,151.52 19. Revenue and Expenditure Report END OF CONSENT AGENDA VII. BUDGET REPORT 20. Quarterly Budget Report Expenditures — Finance Director Forsythe 21. Adoption of New Budget — Finance Director Forsythe VIII. NEW BUSINESS 22. Termination of Contract with Business Services Connection, Inc. — Attorney Jensen 23. *Revised Pension Benefit Application Process —Attorney Jensen 24. FPTTA Annual Conference Trustees School September 26 -29 at PGA National Resort, Palm Beach Gardens, Florida — Pension Coordinator McWilliams IX. ANY OTHER MATTERS X. COMMUNICATIONS FROM CITIZENS XI. 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. Agenda — General Employees' Pension Trust Fund Regular Quarterly Board Meeting August 2, 2010 5 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. REMINDER SALEM TRUST FINANCIAL STATEMENTS ARE AVAILABLE IN THE VILLAGE IMAGING SYSTEM.