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Home My WebLink AboutDocumentation_Pension Public Safety_Tab 21_04/18/2006is VILLAGE OF TEQUESTA Post Office Box 3273 • Z50 Terluesta Drive, Suite 300 '~ 'I~questa, Florida 33469-0273 (561) 575-6200 Fax: (561). 575-6203 . . 6,; March 15, 2006 Division of Retirement p0 Box 3010 Tallahassee, F132315 - fi ters . ue and F Sh cers _ unici al Police Offi M P ear 2005 Re: Annual Report for Y . Retirement Trust To whom it may concern: a~~g the ual Re rt for Year 2005 from the Village of Tequesta reg Enclosed is the Ann p° . Public Safety Officers pension Board of Trustees. ve an questions, please feel free to contact me at 575-6244. If you ha y Sincerely, ~ ~ ~k-. Gwen Carlisle, CMC Village. Clerk • Recycled Paper DATE: MARCH 15, 2006 TO: GWEN CARLISLE, VILLAGE CLERK, PENSION COORDINATOR FROM: JOANN FORSYTHE, FINANCE DIRECTOR RE: 2005 ANNUAL REPORT -PUBLIC SAFETY PENSION TRUST Attached please find the above referenced report that that has been completed with the exception of the signature page that was sent to you last week. We have included an addressed envelope with completed certified mail forms so that you can mail the report as soon as you complete the signature page. • Please note this package must be postmarked no later then March 15.2006 -today. • 3/15/0610:06 AM ANNUAL REPORT FOR YEAR .2005 • • Tequesta (CITY) Police / Firefighter (Public Safety) (NAME OF FUND) 250 Tequesta Drive, PO Box 3273 Tequesta, FL 33469 (ADDRESS OF FUND) STATE OF Florida COUNTY OF Palm Beach We declare that the information given in this Annual attachments thereto is true and complete to the best of knowledge -and belief. We declare that the plan is within ss. 17.5.091/&~1~5.03, F.S. ~, <--~ ~~~ CHAIRMAN Signature Mr. Edward Sabin Please Type: Name of Chairman PO Box 3273, Tequesta, FL 33969 Mailing Address ' Report and -any our information, the provisions of * Must be member of the Board of Trustees 561 575-6200 Esabin@3implant.com Area Code Telephone/Suncom Email r ~~ ! ~~- _~.- ____ SECRETARY S mature Ray Giblin Please Type: Name of Secretary 357 Tequesta Drive, Tequesta, FL 33969 Mailing Address 561 749-4082 RGiblin@Tequesta.orq Area Code Telephone/Suncom Email CONTACT PERSON FOR ANNUAL REPORT: The Municipal Police Officers' and Firefighters' Retirement Trust Funds Office is hereby authorized to contact the person listed above for additional information and/or corrections regarding the annual report. JoAnn Forsythe Name: Please Type Finance Director Title 250 Tequesta Drive, Suite 304 Tequesta,. FL 33969 Mailing Address JForsythe@Tequest`~org Email 561 Area Code Chairman: Subscrib,_ed~nd sworn to before me this Personally known l!d"or Produced identification ^ ~'- ~ (_.~~ ~ OwMiECaAbI. ~ I v~~c ~i ~ '-x~/ry'j~_ Mr 4on DD111331 J ~a ~' ~ Ikqu~t tb.1000 Secretary: Subscri~bed~~d sworn to before me this Personally known LjYor Produced identification ^ 575-6207 Telephone/Suncom ~'~day of J(,{r~ , 200 Type of ID j~day oY ""'-'~' 200 ~ Type of ID jMf' CoinnN~ian 001/1131 . ~a~` Eftpirn Aupw(25.2000 R.~i,.a a/zoos ( 1 ) • • 1 BOARD OF TRUSTEES Makeup of Board specified in: Ordinance No. 598, Section 2-61, Names of Trustees Edward. Sabin Ray Giblin Geraldine A Genco Ken Nielson Jason Fleming Dated 06/09/05 Trustees Elected/Appointed By* 5t° MemberAppointee Elected Member (Fire Rep) Village Council Appointee Village Council Appointee Elected Member (Police Rep) * For each Trustee Specify: City Appointee, Police Officer/Firefighter, Elected Fifth Member, or Designated in Ordinance (example: Finance Director, City Clerk or Treasurer). Attach separate page, if necessary. 2, Required Quarterly Board Meetings. List the date (month, day, year) of one Board meeting in each quarter: 1st 11/09/04 2nd 02/18/05 3rd 05/10/05 4th 08/11/05 3. List all ordinances passed during this reporting period that affect your pension fund'. An impact statement must be performed for each new ordinance. Any ordinance having no actuarial impact upon the plan must have a letter. from your actuary attesting to this fact. Please indicate whether or not t'he ordinance enacted a benefit im rovement that was mandated b Cha ter 99-1. If es, lease identif whether the benefit improvement was _(a) re uired minimum benefit or (b) extra benefit.. 591 11/18/04 d No Im act Im act Statement Date P Y/N a/b Required by Chapter 99-1? Ord. Number Date Passe 598 06/09/05 d 03/15/05 act Statement Date ImP Y/N a/b Required by Chapter 99-1? Ord. Number Date Passe Y/N a/b te Passed D Zmpact Statement Date Required by Chapter 99-1? Ord. Number a Y/N a/b Date Passed Im act Statement Date P .Required by Chapter 99-1? Ord. Number 4. CHAPTER FUNDS ONLY benefit improvements implemented n during this reporting period, List a y and the date effective: r~ ( 2 ) R~vi~~d 11/2005 1, ACTUARIAL VALUATION Contributions (Page 5, Line 3) for this reporting period were made in accordance with the valuation p erformed by: , Gabriel Aoeder Smith & Company Name of Actuarial Firm • Ste hen Palm uist J 301 E Las Olas Blvd Ste 200 Ft. Lauderdale, FL 33301 . Contact Person Mailing Address 954 527-1616 Area Code. Telephone Number Date of Valuation 10/01/03 Period Covered 10/01/04-09/30/05 2. CERTIFIED PUBLIC ACCOUNTANT Rachlin, Cohen S Holtz, LLP, Name of Firm Jerr Chiocca One SE Third Ave, 10`" Floor, Miami, FL 33131 Contact Person Mailing Address 305 377-9228 Area Code Telephone Number 3. MONEY MANAGER , Rockwood Capitol Name of Firm ' Andrew Holt rieve 14015 Brentwood Blvd Ste 400, St Louis MO 63144 Contact Person Mailing Address 868 962-8336 Area Code Telephone Number 9. PERFORMANCE EVALUATION Bogdahn Consulting LLC ` Name of Firm , • Joe Bo dahn 340 west Central Ave Ste 300 winter Haven, FL 33880 Mailing Address Contact Person 863 293-8289 Area Code Telephone Number 07/01/05-09/30/05 09/30/05 Date of Evaluation , Period Covered 5. LEGAL ADVISOR Hanson Perry & Jensen, PA Name of Firm 105 S Narcissus Ave,Ste 510,West Palm Beach FL 33401 Bonni S. Jensen PA Mailing Address Attorney 561 655-5840 Telephone/Suncom Number Area Code 6. PLAN ADMINISTRATOR Public Safety Officers Pension Board Name of Firm Board of Trustees 250 Te uesta Drive Ste 300, Te uesta, FL 33469 Administrator Mailing Address 561 575-6200 Area Code Telephone/Suncom Number • Rwis~d 11/2005 ~ ( 3 .7 • 2005 Annual Report For The C1t.S,; TE UESTA L POLICE OFFICERS' .AND MUNICIPA FIREFIGHTERS' FUND Please direct;all correspondence to: ici al Police Officers' and Firefighters' Mun P Retirement Trust Funds Office Division of Retirement Post Office BFlorOda 32315-3010 ,Tallahassee, 850) 922-066? Phone ~ 292_066 Suncom Fax (850) 921-2161 web htt ://www•myflorida.com/frs/m f Email mpf@dms myflorida.com DATE RECEIVED Annual Report Audit Actuarial Valuation Plan Financial ~_ Statistical ~_ --- APPROVED: - • .. ANNUAL REPORT FOR YEAR 2005 . Tequesta (CITY) .Police / Firefighter (Public Safety) (NAME OF FUND) 250 Tequesta Drive, PO Box 3273 Tequesta,_FL 33469 --- (ADDRESS OF FUND) STATE OF Florida COUNTY OF Palm Beach . We declare that the information given in this Annual Report acrd any attachments thereto is true and complete to the best of our information, knowledge and belief. We declare that the plan is within the provisions of ss. 175.091 & 185.03, F.S. '. CHAIRMAN Signature Mr. Edward Sabin Please Type: Name of Chairman PO Box 3273, Tequesta, FL 33969 'Mailing Address * Must be member of the Soazd of Trustees 561 575 6200 Esabin@3implant.com Area Code Telephone/Suncom Email SECRETARY Signature Ray Giblin Please Type: Name of Secretary 357 Tequesta Drive Tequesta, FL 33469 Mailing Address 561 744 4082 RGiblin@Tequesta.org Area Code Telephone/Suncom Email CONTACT .PERSON FOR ANNUAL REPORT: The Municipal Police Officers' and Firefighters' Retirement Trust Funds Office is hereby authorized to contact the person listed above for additional information and/or corrections regarding the annual report. JForsythe@Tequest.org Email JoAnn Forsythe Name: Please Type Finance Director Title 250 Tequesta Drive, Suite 30A Tequesta FL 33969 Mailing Address 561 575-6207 Area Code Telephone/Suncom Chairman: Subscribed and sworn to before me this: day of 200 Personally known ^ or Produced identification ^ Type of ID 200 Secretary: Subscribed and sworn to before me this _ day of , Personally known ^ or Produced identification ^ Type of ID • Awiwd 11/20D5 ( 1 ) 1, BOARD OF TRUSTEES Makeup of Board specified in: Section 2-61, Dated 06/09/05 Ordinance No. 598, • Trustees Elected/Appointed By* Names of Trustees Edward Sabin 5th Member Appointee Ray Giblin Elected Member (Fire~Rep) Geraldine A Genco Village Council Appointee Ken Nielson Village Council Appointee Jason Fleming Elected Member (Police Rep) * For each Trustee Specify: City Appointee, Police Officer/Firefighter, Elected Fifth Member, or Designated in Ordinance (example: Finance Director, City Clerk or Treasurer).- Attach separate page, if necessary. 2, Re uq fired 4uarterly•Board Meetings. List the date (month, day, year) of one Board meeting in each quarter: 1st 11/09/09 ' 2nd 02/18/05 3rd 05/10/05 4th 08/11/05 3, List all ordinances passed during this reporting period that affect your pension -fund. An impact statement must be performed for each new • ordinance. Any ordinance having no actuarial impact upon the plan must have a letter from your actuary attesting to this fact. Please indicate whether or not the ordinance enacted a benefit im rovement that was mandated b Cha ter 99-1. If es, lease identif whether the benefit im rovement was (a) re uired minimum benefit or (b) extra benefit. 591 11/18/04 No Im act No N/A Date Passed Impact Statement Date Required by Chapter 99-1? Ord. Number , 598 06/09/05 03/15/05 NO b Ord. Number 'Date Passed Impact Statement Date Required by Chapter 99-1? Y/N a/b Ord. Number Date Passed' Impact Statement Date Required by Chapter 99-1? Y/N a/b n.-.i N„mhar Date Passed Impact Statement Date Required by Chapter 99-1? q, CHAPTER FUNDS ONLY List any benefit improvements implemented during this reporting period and the date effective: Awi~~d 11/2005 ( 2 ) 1. ACTUARIAL VALUATION Contributions (Page 5, Line 3) for this reporting period were made in accordance with the valuation p erformed by: Gabriel, Roeder Smith 6 Company Name of Actuarial Firm . • 301 E Las Olas Blvd Ste 200 Ft. Lauderdale FL 33301 J. Ste hen Palm uist Mailing Address Contact Person 954 527-1616 Telephone Number Area Code Period Covered 10/01/04-09/30/05 Date of Valuation 10/01/03 2. CERTIFIED PUBLIC ACCOUNTANT Rachlin, Cohen 6 Holtz, LLP Name of Firm One SE Third Ave, 10~h Floor, Miami FL 33131 Jerr Chiocca Mailing Address Contact Person 305 377-4228 Telephone Number Area Code 3. MONEY MANAGER ' Rockwood Capitol Name of Firm 1401 S Brentwood Blvd Ste 400 St Louis MO 63144 Andrew Holt rieve Mailing Address Contact Person 888 962-8336 Telephone Number Area Code 4. PERFORMANCE EVALUATION Bogdahn Consulting LLC • Name of Firm 340 west Central Ave Ste 300 winter Haven FL 33880 Joe Bo dahn Mailing Address Contact Person 863 293-8289 Telephone Number Area Code 07/01/05-09/30/05 09/30/05 Period Covered Date of Evaluation 5. LEGAL ADVISOR Hanson Perry 6 Jensen, PA Name of Firm 105 s Narcissus Ave, Ste SIO,West Palm Beach, FL 33901 Bonni S. Jensen PA Mailing Address Attorney 561 655-5840 Telephone/Suncom Number Area Code 6. PLAN ADMINISTRATOR Public Safety Officers Pension Board Name of Firm 250 Te esta Drive Ste 300, Te esta FL 33469 Board of Trustees Mailing Address Administrator 575-6200 561 Telephone/Suncom Number Area Code • AwL~d 11/2005 ( 3 Villa4e of Tequesta CITY NAME ' Police / Firefi hters (Public Safet ) NAME OF @ENSION FUND STATEMENT OF ASSETS AND LIABILITIES • AS OF 9/30005 Month/Day/Year ASSETS - T V~+~ $146,332.29 1, CASH, CHECKING .AND SAVINGS (From p9~7) 2. CERTIFICATES OF DEPOSIT (From pq• 7) 3. SHORT TERM INVESTMENTS (From pq• 7) q• OTHER CASH AND EQUIVALENTS (From pq• 8) 5. U• S. BONDS AND BILLS (From pq• 8) 6, FEDERAL AGENCY GUARANTEED SECURITIES (From pq• 8) $1,079,857.42 $55,510.37 7. CORPORATE BONDS (From pq• 8) $1;598,367.51 g, STOCKS (From pq• 9) 9. OTHER. SECURITIES (From pq• 9) 10. REAL ESTATE (From•p9. 9) 11. INVESTMENTS HELD BY INSURANCE COMPANY (From pq• 9) 12. {From pq• 10) 13. (From pq• 10) • lq, ACCOUNTS RECEIVABLE (From pq• 10) $25,151.61 15. ACCRUED INTEREST $2,900,219.20 16. TOTAL ASSETS ...(sum of lines 1-15) LIABI~ ' 17. REFUNDS PAYABLE 18. PENSIONS PAYABLE $2,661.50 lg~, UNPAID EXPENSES 20. DROP PLAN PAYABLE $300.00 21. Due to General Fund $2,961.50 22. TOTAL LIABILITIES (sum of lines 17-21) subtract line 22 from line 16) $2~gg7,257.70 23• FUND BALANCE ( line 25> agUST agree with page 5, • - - ( 9 ) Awiwd 11/2005 Village of Tequesta CITY NAME Polce / Firefi hters (Pub hic Safety) ----~ NAME OF enn~l.. ~ATEMENT OF REVENUES, EXPENDITURES & CHANGES IN FUND BALANCE • FOR THE PERIOD ENDING 9/30/2005 Month/D r gEVENtJES 583,339.33 1, CONTRIBUTIONS FROM EMPLOYEES (From pg• 191 $158,222.36 2. CONTRIBUTIONS FROM STATE OF FLORIDA (From pg• 61 $144,635.79 3. CONTRIBUTIONS FROM CITY (From pg. 6) q, CONTRIBUTIONS FROM CITY - FOR EMPLOYEES 5. BUYBACKS/REPAYMENT OF CONTRIBUTIONS $19,838.06 6, Additional De osit for FY 03/04 ($117,819.07) 7. UNREALIZED GAINS/LOSSES $82,254.53 , 8, INTEREST AND DIVIDENDS $202,607.23 9, GAIN FROM SALE OF INVESTMENTS $572,678.23 10. TOTAL REVENUE (sum of lines 1-9) EXpgNDITQRES• 11. RETIREMENT PENSION PAYMENTS (From pg• 121 - 12, DISABILITY PENSION PAYMENTS (From pg• 121 • 13. BENEFICIARY PENSION PAYMENTS (From pg• 121 lq. TOTAL PENSION PAYMENTS (sum of lines 11-13) $28,589.53 15. TERMINATION PAYMENTS (From pg• 13) 16. DROP PLAN PAYMENTS $3,315.98 17. INSURANCE PREMIUM PAYMENTS $37,214.48 18. EXPENSES (FXOm pg. 6) 19. 20. . 21. LOSS FROM SALE OF INVESTMENTS 569,119.49 22. TOTAL EXPENDITURES (sum of lines 14-21) $503,558.74 23. NET INCREASE / (DECREASE) (subtract line 22 from line 10) - BEGINNING OF YEAR:October 1, 2004 52,393,698.96 24. FUND BALANCE y e 5, line 25> <M[TST agree with nrio~ r report p g . 25. FUND BALANCE - END OF YEAR: Septe~ r 30' 2005 52,897,257.70 (line 23 plus line 241 line 23> Q9CIST agree with page 4, ( 5 ) gwisad - 11/2005 135.99 1. TOTAL CALENDAR YEAR 2005 POLICE DEPARTMENT PAYROLL: $ 808, TOTAL CALENDAR YEAR 2005 FIRE DEPARTMENT PAYROLL: S 1, 036.73 129, ** IMPORTANT ** • This figure must be on a calendar .Year basis. Police lice Department (secreta Depart dis atchersl ries,. P includes all employees of the Po artment Payroll includes all employees of the De i p re police officers, etc.). F da he l de ement System. for EXCEPa Fire Departmeni Ieaas mambeificantl her hi Iain or r a If Ie~er tha= 2.STATE OF FLORIDA•PREMIUM TAX MONEY POL ICE FIRE lt Amount Dat® of Deposit Amount Date of De op S 09/23/05 596.05 12 65,700.10 _ , 10/25/09 09/23/05 63,412.29 Total Police 522 26 S92 S65, 700.30 ) , Total Fire « t C "l'i. ~;; C'1~~~i-G;..''`, ) l'it'i~i~ ~ • 1158,222.36 ;` ~ ~;c•: lv ~'OTA~L (page 5, line 2) 3. CITY CONTRIBUTION Date of Deposit f Deposit Amount Amount Date o Bi-weekly $144,635.79 Y CONTRIBUTION ' TOTAL CIT 3) i 5149,635.79 ne (Page 5, L q, DETAIL OF EXPENSES ADMINISTRATIVE EXPENSES Amount Item Item 7,539.34 Travel 6 Per Diem Legal Services $ 300.90 Professional Service Recording Secretary $ other contractual .$1,006.90 Sub-Total Admin. Expenses INVESTMENT EXPENSES Amount Item Item Investment Services $22, 795.87 Sub Total -- Investment Expenses Total Expenses (Page 5, Line 18) • Amount $613.97 54,956.00 $19,918.61. Amount 522,795.87 $37,219.98 Ravi wd 11/2005 ( 6 ) 1. TOTAL CAL_ EN~AR YEAR 2005 POLICE DEPARTMENT PAYROLL: $ 0.00 TOTAL CALENDAR YEAR 2005 FIRE DEPARTMENT PAYROLL: $ 0.00 ** IMPORTANT ** Police Department Payroll • This figure must be ofi[ a cal=ndar Year basis. includes all employees of the Police Department (secretaries, dispatchers, "police officers, etc.). Fire Department Payroll includes all employees of the ' De artment EXCEPT for members included in =he lsaaede~ lain-ment System. Fire p tl hi he . ai ificasl f lo~rer t11aa last ' ear or I 2.STATE OF FLORIDA PREMIUM TAX MONEY POLICE FIRE Am_ o_=nt "Amount Date of Deposit. ~ Date of Deposit - 10/12/05 . 16,513.97 _ " Total Police I Total Fire TOTAL (page 5, line 2) '--' 3. CITY CONTRIBUTION Amount Amount Date of Deposit Date of Deposit i• TOTAL CITY CONTRIBUTION (Page 5, Line 3) q, DETAIL OF EXPENSES ADMINISTRATIVE EXPENSES Item Amount Item Amount Sub-Total Admin. Expenses ,. INVESTMENT EXPENSES - Amount Item Item Amount Sub Total -- Investment Expenses Total'Expenses (Page 5, Line 18) ( 6 ) Mvit~d 11/2005 Villaoe of Teguesta 2005 ACTUARIAL CONFIRMATION OF THE USE OF STATE MOVE S (LOCAL LAW PLANS ONLY) TO BE FORWARDED T OTHHAT IT MAYUBE SUBMITTED TOGETHER WITH~THE TANNUAL REPORT DUE ON SOON AS POSSIBLE, S MARCH 15, 2006. The Plan's actuary must provide the following information in order for the MPF office to determine that State premium tax revenues are being used in accordance with the provisions of sections 175.351 :and 185.35, Florida Statutes, as amended by Chapter 99-1, Laws of Florida. A. Name of actuarial firm Gabriel Roeder Smit and C B. Date of most recent actuarial valuation 10/ / 3 C. Use of State money --Please provide the following information: (1) Annual cost of oualifyin¢ benefit improvements -- required minimum benefit improvements or "extra benefit" improvements -- enacted during the fiscal year. One-time use Ordinance Number(s) RecuiTina c°sts . ------'- Previous! re orted) - (Previously reported) 1999 - 2004 $ 14,392 _ ( Y P $ 7,878 598 2005 $ 25.313_- --.---- (2) For the Fiscal Year 2005, please indicate the amount of State premium tax moneys that are available to be used by the plan sponsor toward the minimum required contributions. (NOTE: If there have been no qualifying benefit improvements since the enactment of Chapter 99-1, Laws of Florida, this amount can be no more than the 1997 base year amount.) Police $ 33130 Fire ~ $ 63 412 Fire Supplemental $ 4 638 • minimum benefit improvements required to be made subject to the provisions of (3) Are there any remaining. Chapter 99-1, Laws of Florida? If yes, please identify. Attach additional page, if necessary. YES NO _ (4) As of Fiscal Year End 2005, please provide the cumulative balance of additional premium tax revenues that are remaining to be used to provide future minimum er "extra benefit" improvements. If the sum total of all qualifying benefit improvements enacted since Chapter 99-1 exceeds the total additioritil premium tax revenues received this year, this may be a negative balancc; however, negative balances are not cumulative. NOTE: Investment Earnings, ijincluded, may not be negative in the aggregate. Total Accumulated Balance 9/30/05 (Includes Investment Earnings of $ 105 661 $ 0 _) D. Actuary representing the Plan: Name: J. St hen Palm uist (Please print) r (Signature) F.S. Chapters 175, 175 Supplemental and 185 separately tracked. • Revised 11/2005 Telephone: (954) 527-1616 (6a) (Date) INVESTMENTS .. Police ~ NAME OF PENSION E ND Safet ) 1. Ordinance describing the Fund's investment guidelines: • Section 2-61 Date (k6/~05 Ordinance No. 598 rritten investment policy in accordance with the F.S., and submitted a copy of this .policy to Has the board. adopted a requirements of section 112.661, Charles Slavin's off;ce in the Bureau'of Local Retirement Systems? Yes Y No plan Description in accordance with the re ared a Summary and submitted a copy of this document Has the board p p requirements of section 112.66, F.S., to Charles Slavin's of ce in the Bureau of Local Retirement Systems? Yes No 2. SCHEDULE OF INVESTMENTS AT ~iRRET Vp-I+UE T.,tarest Rate Ins (1) CASH, Checking & Savings $9,123.58 Wachovia Securities $137,208.71 Salem Trust Com an • Total 5146__, 332_29ne 1) (Pag (2) CERTIFICATES OF DEPOSIT (3) SHORT-TERM INVESTMENTS • Total (Page 9, Line 2) Total (page 4, Line 3) ( 7 ) Aw1wd 11/2005 i~ 2. SCHEDULE OF INVESTMENTS - continued Amount Interest Rate Institution Holdin De osit (9) OTHER CASH & EQUIVALENTS (5) U. S. BONDS & BILLS Total (Page 4, Line 4) Total (Page 4, Line 5) (6) FEDERAL AGENCY GUARANTEED SECURITIES Salem Trust Compare 51,074,857.92 i• Total $1,074,857.42 (Page 9, Line 6) (7) CORPORATE BONDS Salem Trust Company $55,510.37 Total 555,510.37 (Page 4, Line 7) r~ Rovi~ad 11/2005 ( 8 ) 2. SCHEDULE OF INVESTMENTS - continued .. Amount Interest Rate Institution Holdin De osit • (g) STOCKS ~/ $1,598,367.51 Salem. Trust Company Total 51,598,367.51 ', (pag~Line 8). (g) .OTHER SECURITIES Total (page q, Line 9) (10) REAL ESTATE • Total (page q, Line 10) (11) INVESTMENTS HELD BY INSURANCE COMPANY • Total (page 4, Line 11) ( 9 ) pwi~~d 11/2005 2. SCHEDULE OF INVESTMENTS - continued Institution Holdin De osit i ~ (12) (13) t Rate Total (page 4, Line 12) I Total Page 4, Line 13) _ (14) ACCOUNTS RECEIVABLE ~ p,MOUNT • ** DATE OF PAYMENT DUE FROM $8~9~ 5 Village of Tequest 1%07/05 $211.39 ~ e of Tequest 11%__0/05 Villaq - $16_ 513.9 State of Florida 09/` 5 " 2~ 5 151.61 TOTAL ACCOUNTS RECEIVABLE Page 4, Line 19) Contribution may NOT 1» listed as a r'g•ivabla if the * States of Florida roved before the plan's fiscal Yeas ~nd• Annual Report Mesa not. app ** gequirad for all receivables. I1 • '. ( 10 ) A~vi~~d 11/2005 INSURED PLANS ~ / f TO BE FORWARDED T~ INSURANCE COMPANY FOR COMPLETION AND RETURNED TO MUNICIPALITY AS SOON AS POSSIBLE, BUT PRIOR TO FILING DATE OF REPORT, MARCH • 15, 2006. _. A. NAME OF CARRIER: - B. TYPE AND CONTRACT NUMBER: ~~ ~ ~ C. TYPE AND BASIS OF FUNDING: CURRENT SERVICE: PAST SERVICE: D. NUMBER OF EMPLOYEES COVERED: RETIRED: NON-RETIRED: E. DATE OF LAST PLAN AMENDMENT (IF ANY): F. INSURANCE COMPANY REPRESENTATIVE HANDLING REPORT FOR MUNICIPALITY: NAME: TITLE: PHONE NUMBER: • I have forwarded to the person completing this report a copy of the contractholder's account statement as of (date) showing a balance of $ (amount), invested with this company. (Signature) (Date) NOTE: A copy of the contractholder's account statement as of the reporting date of the Annual Report must be submitted with the Annual Report. The statement must show all changes to the reserve account. The contractholder's account statement is required even though pages 4 and 5 are completed by the insurance company., g~vis~d 11/2005 ~ ( 1 1 ). •` ZI~ORTANT Before completing pages 12, l3, 19 and 15, please read these instructions. Pages 12, 13, 14 and 15, must be completed using the same reporting period as pages 1 through 11. All statistical data on these pages should be based on employment as a certified (or to be certified within one year of employment) op lice officer or firefighter. Complete all columns on each page. The statistical data on this year's report will be compared to the: statistical data on last year's report. Please check to be sure that all police officers and firefighters are accounted for and that all dates are correct. The totals on pages 12, 13, 19 and 15, must be the same as the totals on page 5, lines 1, 11, 12, 13, 15, and 16. C This page is intentionally not numbered. • - • • • 2005 Report Police I Firefighters (Public Safety) FIREFIGHTERS' DROP PLAN PARTICIPANT BALANC ROLLFORWARD ~: Reporting Period 10101/ 04 to 09/ 30/ OS Subtotals from S ~ S : ~-- Pia f 5 f ----- s s s S' TOTALS f ~--- (MUST aproe to , prior year enMrq ~ balanea D~ 15) (15A) f _ '~~_ Flro Subtotals S ~ ~ • 2005 Report. Police /Firefighters (Public Safety) POLICE OFFICERS' PENSION DATA 0 Number of Retired Police Officers on this Report ~_ Name Name Date Date of of Social of Retire /Disability Disability Security (Please sort alphabetically) Code * Beneficiary Last, First, MI Birth (Indicate with R / D) E , Number - ~ ° 1 -Heart Disease 2 _ Hypertension 3 -Emphysema 4 -Injury 5 -Ocher (please specify) 6 -Cancer Please indkate LOD /NLOD «««« pe~p[ton wu_~~ 1 -Life & 10 Yrs. Certain 2 -Lifetime of Retiree Only 3 -Joint & Survivor (A)1009' (C) fib ?1396 (B) 7596 (~) `~0 4 -Other (please specify) 5-DROP Reporting Period 10/ O1/ 04 to 09! 30/ OS Date of Pension Monthly Pension Total Received Birth of Option Received By Retiree This Reporting or Beneficiary Period Beneficiary Elected `• ~ , Subtotals: Retirement S Disability S Beneficiary S SUBTOTAL: Polio Offken' Pension Payments S~_ (aaa to page 12A) (~ 2) F • • • Police /Firefighter 2005 Report (public Satety) FIREFIGHTERS' PENSION DATA Reporting period la/ Ot! 04 to 091301 OS Number of Retire d Firefighters on this Report 1 ~- .Name Date of Pension Monthly Pension Received By Retiree To al Received This Reporting Social Name Date Date of Retire I Disability of Disability Birth of Option Beneficiary Elected ** or Beneficiary ~ Period ~ Security (Please sort alphabetically) o[ Birth - (Indicate with R / D) Beneficiary Code * ~ s ~ " Number Last, First, M[ ~ 10/04166 2/2/2005 R Vested Campbell, Timothy - Subtotals: Retirement S sr Pension Option odes: 1 -Life & 10 Yrs. Certain Disability S _ ~ Disabilit y Codes: 1 -Heart Disease 2 - Lifetime of Retiree Only 2 _ Hypertension 3 -Joint & Survivor Beneficiary - S 3 -Emphysema (p) 1004 (C) 6tS 213% 4 -Injury (e) 75% (o) ~°~' -SUBTOTAL: Fircfighten' . _ 5 -Other (please specify) q _ Other (please spectfy) Pension Payments ~_ 6 -Cancer 5 -DROP Please Indicate LOD /NLOD TOTAL: Police 6c Firc - Combined _ - S ~. (must agree with page 5 , line 14 (12A) • 2005 Report 2 Number of Terminated Police Officers on this Report ~- Social Name Security (Please sort alphabetically) Sex Number Last, First, MI ~ r~ Police I Firefighters (Public Safety) POLICE OFFICERS' TERMINATIONS Date Date I Date of of of Termination Birth Employment F E 0 10/01/03 01/23/05 07/17/71 0/01 Og/OSI05 06/ 11 /71 SUBTOTAL: • Reporting Period 10101/04 to 09/ 30105 Amount Reason Refunded at Terminated Termination G H d 3,757.09 9.367.01 Police Officers' 13,124.10 Terminatioa Payments S - (~d to page 13A) (13) • 2005 Report 3 Number of Terminated Firefighters on this Report ~._ Social Name Security (Please sort alphabetically) Number .Last, First, MI Sex s A .... Knap ,Michael M Madera, Roberto M Nathanson., Alex M • Police /Firefighters (Public Safety) FIREFIGHTERS' TERMINATIONS Date of Birth ~~ 04/04/80 03/19/63 Date Date of of Employment Termination E ~ 06/06/00 06/14/05 04/24/01 08/16/02 nAim/9't O1/03/01 • Reporting Period 10/ Ol/ 04 to 09/ 30/ OS Amount Reason Refunded at Terminated Termination Q N Resi ed 12,877.88 Resi ed 2,587.55 n.._:....e,i Not Yet Refunded SUBTOTAL: Firefighters' 15,465.43 Termination Payments S _ TOTAL:. Police & Fire .Combined S 28,589.53 (must agree with page 5, line 15) (13A) • • ~ • 1 2005 Repoli Police I Firefighters (Public Safety) , POLICE OFFICERS' STATISTICAL EXHIBIT R~;r,B period 10/ Ol! 04 to 09/ 30/ OS Numtxr o[ Active Police Ot6cers on this Report l4 t E Monthly Sdarv Total ash Compensation to Am n l i S Name Date Dete of Yean of Credited ment as a Service in Police g l ry n Date ot into Police Used to Compute Paid Dprirq this orting Period Re 0(ficer Frnd b y Durin Period (S %.) 6 a oc Security (Please sort alphabetically) of mp oy potiee Officer Retirement Plan Retirement Plan Pension Contribution p ~ Number Last, Fint, MI Berth Ses Age ~ r ` 74 135 4 206.79 . ,, - _ -. _ 09/06/05 0 09/06/05 3,584.30 . , Bcedell, Chris 04/15/84 M 2l 01/06/03 4,389.28 48,780.72 2,439.04 l Cox, John 06/07/59 M 46 3 01/06/03 389:54 3 38,523.28 1,926.16 Crouse, Richard 06/17/68 M 37 03/08/04 2 03/08/04 , 250 00 4 24,519.28 1,225.96 ~ Fabiano,Jose h 06/23/60 M 45 0 04/04/05 04/04/05 . , 98 040 4 47,780.50 2,389.03 n~none M 31 4 10/IS/Ol 10!15101 . , -- ~ vo[ 4t Jason food. Brian 12/21/6l F 44 07/17/71 M 34 04/30153 M 52 06////71 M 34 nanam M 33 1 1 06/04/01 12/1 120.1 185.! 1 2,141 2,793 1,071 SIS SUBTOTAL: Polio Oflieen' 29,119.13 Certribrtiors s (add to pages 14A dt 14B) (f 4) • _ • • Police / Firefghters 2005 Report (Public Safety) FULLTIME FIREFIGHTERS' STATISTICAL EXHIBIT Reporting Period 10/ 01/ 04 to 09/ 30/05 ~i Number of Active Fulltime Firefighters on this Repoli 18 Years of Credited Date of Entry Monthiv Salarv Total Cash Comaensation ' Amonnt Contributed to Fund b Firefighter id Durin this y P Social Name Date E Date of mployment as a Service is Fire into Fire P Used to Compute nsion Contribution a Kin period Dnr Repo 8 ing Period (S% & 6.l% ) Security (Please sort alphabetically) of Sex Age Firefighter Retirement Plan e Retirem~ nt Plan , Number Last, First, MI ' Birth ~ , < < ` 600.63 4 64,421.07 3,449.72 --- 12!09/37 M 48 11/28/94 Il 11/28!94 , 537.31 46 2,501.44 Allen, Peter 4 10/08/01 3,097.52 , Allison, Vanessa 01/11/73 F 31 10/08/01 07!12/93 5,542.43 74,464.79 3,981.19 Charles Bumsed 07/Ol/SS M 50 07/12/93 i2 374.41 5 24,103.85 1,205.20 , 10/~/~' M 39 11/15195 li/15195 t0 , 17 685 64 3,476.73 Cam boll, Timoth 11/30!99 6 4,069.02 . , 04/27/73 M 32 11/30/99 290.72 21 1,223.91 Dodd, Andre 041/3/05 0 2,738.32 , Fawcett, Jason 11/13/79 M 26 04/15!05 04/13/99 4,202.39 66,399.92 3,588.12 03/31/61 M 45 04/13199 6 125.99 49 2,636.16 Fives, Mark 11/03/03 2 3,330.56 , ` Gass, Christo her 04129!79 M 26 11/03103 0l/07/02 3,766.73 67,805.09 3,664.46 Ra and Giblin 08/07/66 M ' 39 01/07/02 4 274.46 3 47,984.10 2,576.53 , 10/24/80 M 25 09/10/02 09//0/02 3 , 305.58 48 2,415.28 Harris, Ga S 06/06/00 4,045.89 , Michael Kna 04/04/80 M 26 06/U6/00 66 228 5 78,343.56 4,214.74 , 04/30/63 M 4P 11/28N4 112 1 I . , 60;401.30 3,234.37 Newborn, William 6 06/23199 4,051.15 ~ Schumacher, An ela 03/3//74 F 32 06f23/99 03/31/99 3,527.28 48,148.82 2,583.19 ~ Sur eon, Mark- 01/20!73 M 33 03/31/99 7 09/13/93 5,703.15 81,73! 1l 4,401.83 08/31/63 M 42 09/13/93 12 ~ 666 82 73 , i. 4,044.20 Titles, Daniel 08/02/93 12 5,395.35 , I Trube, lames 09/!4/68 M 37 08/02/93 oan6193 8,706.63 91,020.79 4,883.39 .. 03/23/56 M 49 04/26/93 12 290.74 2 139.74 1 Weinand, James 0 09/19/09 2,738.34 , Wilhelm, Kristo her 12/03/77 M 28 09/19/05 SUBTOTAL: Fulltime Firefighters' 20 220 54 Coatributioas s . , ;, (add to psge 14B) (t4A) • • • 2005 Repoli Police I Firefighters (Public Safety) VOLUNTEER FIREFIGHTERS'STATISTICALEXHIBIT Reportingpm~ l0/O1/04 to 09/30!03 (t46) ~_- ~ - -- _ Coetribotions S TOTAL: Peliee aed Flre E3,339.33 Combined = (mast astee with pye S, line 1) • 2005 Report • Police / Firefghters (Public Safety) POLICE OFFICERS' DROP PLAN PARTICIPANT BALANCE ROLLFORWARD • Reporting Period 101 Ol/ 04 to 09/ 301 OS (15) s Poga guplotals ~_ ~- (Grryfonvrd SublofM~ b pfp~ t'3N ~wez yv~v ~..~.-- 03/15/08 08:.47- Company 301 Fast Las Dias Blvd. Gabriel {toedcx Smith & $»ice 2U0 Fc- taudetdalc, FI.33301-2254 C;unsulnn~s ~ A~~uarics' .J 954.527.1t~16 pboer 954.525.tKJ83 fax ~W,gabrielcocdc~-ron- ,~ ,t March 15.20D6 Ms. Jody Forsy~e Director of ~nuesta . Village of Teq pension Trust Fund Public Safety Offer 250 Tequesta Drl~. Suite 300 Tequesta, Flonda 32969-0273 - Re: Public Safety C~f-cers Pension Trust Fund -Ordinance 591 Dear Jody: osed ordinance that Would allow for a o uthelp an~ber to p~ requested, we have reviewed a prop ' on the pension board. In our opinion, this ordinance has no actuarial Jmpac • sd We welcome your questions and comments. Sincerely yours, ~~ _/~~~ . J."Stephen Palmqulst JSPIrb • ifFL. ROED~R, 3MITM & COM~-~ MAR 1 $ 2005 ADMINISTRATION _ ~~~ e°7.1Ma ~ FAX 9b45aS'0~3 ~t Aetyine~ • Ft. t.audettla~e, f~ 3sa+~ •~.:,~ - -- -_ 3p1 EaGt Las Ofas 91vd. ~ ~'~ 200 'r March 15, ,2005 James Weinand, Chairman Public Safety OfficeB ~~ of Trustees Village of Tequesta 357 Teguesta Drive Tequesta, F1. 32960-~~ Re: Tequesta Public Safety Pension Plan Dear Jim:- sted, we have prepared an Actuarial Impa~ Statement for an ordinance that makes the As reque foAowing changes for Public Safety Officer plan Mem ers: 1. Benefit multiplier is increased to 3.0% for years sixteen through twenty-one • ed to 3.0% for all years of service after twenty five 2. Benefit multiplier is increas 3. Supplemental benefit is increased to $20.00 per year of service 4, Employee contributions increased from 5.0% to 6.1 % of pay far Firefighters e have a member of the board of Trustees sign the Statement. Then send it along with a Pleas spy of the proposed ordinance to Tallahassee. We welcome your questions and comments. Sincerely yours, .i~}r-~' J. Stephen Palmquist Enclosures • a of Tequesta r ~ s Villag Public Safety Officers Pension Plan Impact Statement -March 15, ZOOS . ~ .,., Description of Amendment ~ , " n s would apply ~ both Firefighter and Police pfficsrs except for the These Cha ~ e contributions: change in employe . Benefit muttipli®r is increased to 3-0°~ for years sixteen through twenty-one 1 efit mu~ipiier is increased to 3.096" for all years of service after hNenty five 2. Ben 3. Supplemental benefit is increased to $20.00 per year of service m loyee contributions increased from 5.0°~ to 6.1°~ of pay for Firefighters 4. E p Funding Implications of Amendment An actuarial cost estimate is attached. • Certification of Administrator ha ter 112, Florida I believe the amendment to tie in compliance with Part VII, C p atutes and Section 14, Article X of the Constitution of the State of Florida. St / /~ Fo a Board of Trustees • ~ Pian Administrator • SU,~PLEMENT~- ACTUARiAI- yA~UATIQN REPORT • ~~ Plan T oasts Public Safety Officers Pension Trust Fund V'illa9e ~ eCi Valuation Date October 1, 2003 Ds~te of Report Macch 15, 2005 Report ReQuested by g~~ cf Trustees Prrrpared by uist J. Stephen Palmq Droop Valued hters end Police Officers Active Firefig plan provisions Being Considered for Change c~raaE3nt Provision Before Chan e ..._-. 1. Benefit Multiplier is 2.5% for years of service 16-21 • ° ears of service 2. Benefit Multiplier is 2.0 ~ after 25 Y 3, gupplemental Benefit is $5.00 4. Employee Contributions are 5.0°k (Firefighters) ProQ~ han e 1 _ Benefit Multiplier is 3.0% for years of service 16-21 2, Benefit Multiplier is 3.0% after 25 years of service 3. Supplemental Benefit is $20.00 4. Employee ~ntributions are fi.1 ~° (Firefighters) Particiaants Affected All Active Police and Firefighters. Actuarial Assumptions and Methods as October 1, 2003 Actuariaf.Valua`e nReport with no excepfions. Same assumptions/methods a • Some of the key Investment return - 8.0% per year Salary increase - 6.0% per year Cost Method -Aggregate for Any increase in Actuarial Accrued i.iability amortization Period NA gummary of Data Used in Report NA ~ , ,~, ct of Proposal(s) bein funded by an~increase in the Firefighters' Actuadsl lrnpsw e s The changes are 9 ter 185 revenue• See a~~hed pa-9 O• availabid Chapter 175 and Chap . contribution rate and by ~~ to - ~ With. the' Proposal That the Plan Has Not Been Exp Special Risks lnvoived . previously None pttwr Cost Considarstions . None Possibl! Conflicts With IRS 4ualification Rules None .~ • MAAA, FCA ,i teph n Palmquist, AS nroiled Actuary No. p2-1 60 • • ..~ October 1, 2003 bar 1, 3 O~ A. Vaiuatroil Da Valuation r Chanpss . ,,;~ ' g, ARC to Ee Paid During 9!30!2005 9130/2005 Fiscal Year Ending Monthly Manthly ' med Date of Employer Contrib. . C, Assu p, Annual Payment to Amortize $ 0 $ 0 Unfunded Actuarial Liability 361 81 53,969 X E,. Employer Normal Cost F. ARC N Psid on the Valuation 53,959 61,361 Date: D+E . G. ARC Adjusted. fpr Frequency of 56225 .63,926 Payments ° 13.24 ~ 15.05 H. ARC as °k ~ Covered Payroll Assumed Rate of Increase in Covered 1 4 Q0 % 4.00 . • Payroll to Contribution Year 44.1 787 J. Covered Payroll for Contribution Year 441;787 , 489 66 ARC for Contribution Year: H x J K 58,493 , , 134 25 33.130 Allowable Credit for Chapter Revenue ~ , . 359 33 33.359 M. Required City Contribution: K ~ l- , N. REC as % of Covered Payroll in 7.55 °10 o 7.55 ~ Contribution Year: M ~ ~ • L_J • q, Valuation Date l3: pduariai present Value of All Projected Benefits for 1, Active Members a, gervlce ReBrement Benefits b. Vesting Benefits c. p'~sabi0ty Benefits d. Preremrom~mbe~Cont~but ons e. Retu f. Total. ' 2, Inactive Members a. S®nrice Retirees $ Beneficiaries p, pisabilitiy Retirees p. TemninatBd Vested Members d. Total 3, Total for All Members C. Actuarial Accrued (Past Service) Liability per GASB No. 25 p, Actuarial Value of Accumulated Plan Benefits per PASS Na- 35 E .plan Assets 1 Actuarial Value 2. Market Value F, Actuarial Present Value of Proje~~ Covered Payroll G. Actuarial Present Value of Projected Member Contributions pc{ober ~ 1, 2003 OCtnber 1, 2003 Valustfon A}hsr ChanOes ' 004,997 $ $ 1 1,089,464 , 90,476 97,857 121,761 130,094 36,004 38,216 7,683 1,260,921 1382,924 1,260,921 1,362,924 184,947 ' 201,349 NA ~ NA 350,404 358,282 350,404 358,282 5,396,996 5,396,996 269,850 I .2.69,850 i• • A. Valuation Date. B. Actuarial Present Value of Projected peneflts ' C. Actuarial Value of Assets p. .Unfunded Actuarial Accrued Liability E. Actuarial Present Value of Projected Member Contributions F, Actuarial Present Va{ae of Projected Employer Normal Costs: B-C-Q-E G. Actuarial Present Value of Projected Covered Payroll H. Employer Normal Cost Rate. FICy 1. Covered Annual Payroll .1. Employer Normal Cost: H x i K. Assumed Amount of Administrative Expenses L. Total Employer Normal Cast: ~+K M, Employer Normal Cost as % of Covered Payroll Qctab r 1, 2003 Qctober 1, 2Qt13 VelusHan Alter ~,~r-ges $ 1,260,921 $ 1,362,924 3$0,404 358,282 0 0 269,850 269,850 640,667 734,792 5,396,996 5,396,996 11.87 % 13.61 424,795 424,795 5Q423 57,815 3,546 3,546 53,969 61,361 12.7Q °10 14.44 % • i• • p. Valuation Date g. ARC to 8® P$id During Fiscal Year Ending C. Assumed-Dace of Employes Contrib. p, Annual Payment to Amortize Unfunded Actuarial Liability E, Empbyer Normal Cost ~. ARC if Paid on the Valuation, pate: D+E C. ARC Adjusted for Frequency of payments H. ARC as °k of Covered payroil . I, Assumed Rate of IncreYearn Covered payroll to Contribution J. Covered Payroll for Contribution Year K. ARC far Contribution Year: H x J L. Allowable Credit for Chapter Revenue M, Required City Contribution: K - -- N. REC as °~ of Covered Payroll in Contribution Year. M + J Ootober 1, 2003 October 1, 2003 Valuation pRer Char+~s 9130/Z005 913012005 Monthly Monthly $ U $ 0 134,132 150,051 I 134,132 150,051 139,739 156,323 15.27 % 17.09 °~ 4.00 °!° 4.00 ~ 951,467 951'467 145,2ag 162,606 50,733 68,080 94,556 94,556 9.94 °!o ' 9.94 °/~ • i• A. Valuation. Da#e B. Actuarial Present Value of Afl Projected Benefits for 1. Active Members a. Service Retirement Benefits b. V4s#ing Benefits c. Disabibity Benefits d. preretiremen# Death Benefits e. Retum of tvleml~r Contributions f. Total 2. Inactive Members - a. Service Retirees ~ Beneficiaries b. Disability Retirees _ c. Termina#ed Vested Members d. Total 3. Total for AA Members • C. Actuarial Accrued (Past 5enrice) Liability per GASB No, 25 D. Actuarial Value of Accumulated Plan Benefits per FASB No. 35 E. Plan Assets . 1. Market Value . 2: Actuarial Value _ F. Actuarial Present Value of Projected Covered Payroll G. Actuarial Present Value of Projected Member Contributions October 1,2003 tyctober '1, 20113 .Valuation Alter Changes ` ~~f: $ 2,796,246 $ 3,041,036 233,233 253,045 277,931 259,341 89,813 95,740 7,$11_ a 31Q 3,404,834 3,697,448 3;404,834 1,433,188 NA 1,607,866 1,607,866 10,304,009 515,200 3,fi97,448 1,552, 768 NA 1,607,866 1,607,886 10,304,009 628,545 '• A Valuation Date October 1, 2003 t3ctober 1, 2003 . . Valuation After Chan~ea .~ ~, g. Actuarial Present Valus of Projected $ 3 404,834 $ 3,697,448 Benefits , C. Actuarial Value of Assets 1,607,866. 1,607,866 D Unfunded Actuarial Accrued Liability 0 0 . E. Actuarial Present Value of Proj®cted 545 828 Member Contributions 815,200 , F. Actuarial Present Value of Projected C 768 281 1 1,4fi1,03T -D-E Employer Normal Costs: B- , , . G. Actuarial Present Value of Projected 009 304 10 10,304,009 Covered Payroll , , H. Employer Nannai Cost Rate: F/G ~ 12.44 % 14.18 • 1. Covered Annual Payroll 914,872 810 113 914'872 729 129 J. Employer Normal Cost: H x I , , K. Assumed Amount of Administrative 20,322 20,322 Expenses L_ Total Employer Normal Cost: J+K 134,132 150,051 M . Employer Normal Cost as % of 14 66 % 16.40 .Covered Payroll J