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Home My WebLink AboutHandouts_Pension General_04_08/02/2010 � CAPITAL � � INSTITUTIONAL SERVICES, INC. Prepared For: Village of Tequesta General Employees Pension Plan Prepared By: Daniel Dekat Vice President Capital Institutional Services, Inc. 1601 Elm Street, Suite 3900 � Dallas, TX 75201 �� 214.978.4725 �� www.capis.com �-�� u;z -�='{- - -,� e.u1�� I tey'►� � � � � Action Plan The following steps should be taken to implement a commission recapture program: 1. Complete commission recapture agreement letter ✓ Make any necessary changes to the agreement letter ✓ Ensure that you provide the account information where you would like the recaptured funds to be sent ✓ Sign letter and mail to CAPIS 2. Send directed brokerage letters to money managers ✓ Print on your letterhead and send to Money Managers ✓ Send copies to CAPIS 3. CAPIS sales/trader will contact money managers ✓ Initiates trading relationship on your behalf 4. Recapture balances monthly as outlined in the commission recapture agreement ✓ Commissions can be delivered to a custodian or directly to the plan � ! 7 . CAPITAL � � INSTITUTIONAL SERVICES, INC. COMMISSION RECAPTURE LETTER July 6, 2010 Michael Rhodes Board Chairnian Village of Tequesta General Employees Pension Plan Post Office Box 3273 Tequesta, FL 33469-0273 Dear Mr. Rhodes, This letter will constitute our agreement with respect to the brokerage transactions on bellalf of the Village of Tequesta General Employees Pension Plan (The Plan) to be directed to Capital Institutional Services, Inc. (CAPIS). You understand, in making this Agreement, there are no required volumes, no fees (other than the transaction charges associated with executing your orders), and no time requirements. The Plan agrees to direct its investment managers to effect through CAPIS, consistent with best execution, certain brokerage transactions for The Plan. All commission charges per share will continue to be based on your managers' normal negotiated rate schedule. Therefore, pursuant to this agreement, The Plan will be refunded all brokerage commissions above the following minimums retained by CAPIS: Domestic Equity 1.5¢ Minimum Retention International 8 Basis Points Correspondent Equit,y 80°/a OF NET * There is a$15.00 minimum commission in order to earn rebate credit. *This rate is based upon the net commission paid to CAPIS from the correspondent broker. CAPIS will mail monthly commission recapture payments to: Trustee: Attention: Address: City, State, Zip: ABA# Reference Account #: Tax ID #: In entering into this agreement, you represent and warrant that these refunds wi11 be used exclusively for the benefit of The Plan and in no event will be used to pay any expenses properly chargeable to the plan sponsor or any other person or entity. In addition, The Plan agrees to have record-keeping and other controls to assure the foregoing. You understand that in making these refunds to The Plan, we will be relying on the representations and agreements contained herein which you hereby authorize us to do. You represent that the governing documents of The Plan authorize you to make these representations and to execute this agreement. You further agree to advise us promptly of any changes in any materia] fact contained in this letter. Eacb confirmation issued with respect to securities transactions effected by you on behalf of the plan shall contain a notation indicating the following: A po�-tion� of the rerrauneration m.ay be refirnded to the plari. Please indicate your agreement with and acceptance of the foregoing by signing and returning a copy of this letter to me at your earliest convenience. Sincerely, Daniel Dekat Vice President Approved and Accepted for the Plan by: Michael Rhodes Date Board Chairman x = � THE BOGDAHN GROUP simplifping your inveslmenl mt�lfiducinr�� decisions August 2010 Dana Investment Advisors Attn: Mark Mirsberger PO Box 1067 Brookfield, W I 53008 mark@danainvestment.com (262) 782-9420 Re: Domestic Equity Trading Direction Letter Dear Mr. Mirsberger, This letter will confirm our arrangement concerning brokerage commissions for the Viilage of Tequesta General Employees' Pension Plan. (herein referred to as "the Fund"). The Board of Trustees primary concern and focus is to receive best execution for trades done on behalf of the Fund. Accordingly, you are directed to seek best execution through your established brokerage trading houses, electronic trading platforms and recapture brokers. If the Fund has contracted with vendor(s) to provide recapture services for the Fund, we will attach a schedule of these providers for your information and potential use. Best execution, which is defined solely by the investment manager, includes but is not limited to, the net effect of commissions paid, market impact, timeliness of transaction and opportunity cost. To ensure all your security transactions have been executed consistent with your obligation to seek best execution in each trade, we require a quarterly accounting of all trading activity done on behalf of the Fund. Please send this trading report to research(c�boqdahnqroup.com within 15 days after the end of each calendar quarter. Please have your traders inform the commission recapture desks, indicated in the Recapture Provider Contact Information section of this letter, that transactions for our account are to be credited to the Fund's commission recapture account. Any other questions regarding this relationship should be directed to my attention. Sincerely, Authorized Signer Village of Tequesta General Employees' Pension Plan Cc: Daniel Johnson, Investment Consultant, The Bogdahn Group Bonni Jensen, Board Counsel 4901 Vineland Road � Suite 600 � Orlando, Florida 32811 �� 5, Teleplione (866) 240-7932 !. Facsimile (863) 292-8717 � �"�� ) www.bogdahngroup.com �-(j�.p.�}i�L� ��''�.Y�� ( �� THE BOGDAHN n ��: . GROUP sinrplifj�ing your invesn�renl and frAuciar�• decisions Recapture Provider Contact Information: CAPIS Contact: Daniel Dekat Phone: (214) 922-3254 Email: Ddekat(a�Capis.com 1601 Elm Street, Suite 3900 Dallas, Texas 75201 4901 Vineland Road !. Suite 600 � Orlando, Florida 3281 l Telephone (866) 240-7932 !. Facsimile (863) 292-8717 www. bo gda h n gro u p.co m