HomeMy WebLinkAboutDocumentation_Pension Public Safety_Tab 20_04/18/2006BOARD OF TRUSTEES
TEQUESTA PUBLIC SAFETY OFFICERS PENSION TRUST FUND
MEETING MINUTES
February 14, 2006
PAGE i6
membership dues needed to be paid to FTTPA, and last year had been skipped. In
researching past minutes, one could not tell if the membership dues had been
included in the motion to send someone to the trustee school. A motion was needed
from the board to pay the $450 membership fee on an annual basis so that members
could attend the school, unless the board wanted to pay an additional $200 per
person who attended. In this particular deal, General Employees were thrown in free
of charge for the $450, which might not benefit this board, but it was a benefit to the
Village. If two people from this board and two people from the General Employees
board it would cost $800, or they could all go for the $450 membership fee.
Boardmember Genco commented if two people from this board went in a year that
would be $200 versus $450 for membership, so this board would be $50 ahead by
paying nothing. Ms. Carlisle responded that the General Board was also included in
the $450. Boardmember Genco commented there was nothing extra received by
being a member. Ms. Carlisle advised there would be a savings if three members
went in a year. Boardmember Genco pointed out that the budget only allowed two.
Discussion ensued. Boardmember Genco commented if the board decided to be a
member then the General Employees board should pay half of it.
MOTION:
Boardmember Genco made a motion to pay the membership fee for FPPTA only
if the General Employees Board paid 50%. Boardmember Nielson seconded
the motion, which carried by unanimous 4-0 vote.
Attorney Jensen announced another trustee school from the State of Florida,
responsible for overseeing 175/185 funds. Their conference would be held March
13, 14, and 15 in Tallahassee.
23. Discussion of suggested future meeting dates through end of fiscal or calendar year
Chair Sabin commented other boards in which he was involved set a yearly schedule for
meeting dates, which was helpful and avoided conflicts since everyone could mark their
calendars. Chair Sabin suggested that the May, August, and November dates be selected
at this time. The second Tuesday dates were May 9, August 8, and November 14. It was
determined none of those dates fell on a holiday. Boardmember Genco suggested that the
board might want to consider changing the month to April, July, and October since the
investment manager's reports came out quarterly, and were available 10 days after the
end of the calendar quarter. Ms. Carlisle suggested in that case the board might want to
make the date later in the month to allow more time to prepare for the meeting after the
quarterly reports were received. Mr. West requested that both boards meet on the same
BOARD OF TRUSTEES
TEQUESTA PUBLIC SAFETY OFFICERS PENSION TRUST FUND
MEETING MINUTES
February i4, 2006
PAGE 1~
day which was part of the original discussion. It was confirmed that the General
Employees currently met on the 3`d Monday of May, August, November, and February.
Boazdmember Genco commented staff might want to bring this to that board for their
consideration to have timeliness with the investment manager report. Discussion ensued.
It was confirmed there was nothing in the ordinance against changing the month;
Attorney Jensen noted that the General Employees board had their date in their
administrative rules. Chair Sabin commented the objective was to set dates for the
quarterly meetings for this yeaz and to try to coordinate that with the General Employees
board, and asked if they could have it after this board's meeting. Ms. Carlisle reported
they could have it at 10:30, but in ensuing discussion it was pointed out they had gone to
a different date in order to be able to meet at 8 a.m. Boazdmember Genco stated their
choice was whatever their choice was-this board had nothing to do with that, but we
could encourage them to do that. Ms. Carlisle asked the board to let her know what this
board preferred, and she could recommend to that board but if they wanted something
totally different that was up to them. Boardmember Genco stated that was what she was
proposing, but she was asking Ms. Carlisle to explain the reasons to the General
Employees Board. Ms. Carlisle responded she could take that up under Any Other
Matters at the General Employees Board meeting. Chair Sabin confirmed that this board
wished to meet on the 3`d Tuesday of April, July, October and January at 8 a.m. The next
meeting dates therefore would be April 18, 2006; July 18, 2006, and October 17, 2006, ~~
~~~ and in October dates would be set for next year,
XII. ANY OTHER MATTERS
Pension Coordinator Carlisle noted the following items were for information only, and
item 27 was not relevant to this boazd.
25. Information Item - News Scan and Reseazch Memo developed by Gabriel,
Roeder, Smith & Company
26. Information Item -Senate passed pension legislation with provisions affecting
public sector
27. Information Item -Dana Viewpoint -January 10, 2006
Boardmember Genco announced that effective tomorrow, the board would have her letter
of resignation. Chair Sabin and the other members of the boazd expressed their
appreciation for Boardmember Genco's service, and Chair Sabin welcomed her to attend