FMTF06-20-06 BOARD OF TF~USTEES
Florida Municipal Trust Fund Retirement Plan and Trust
for the Firefighters and Police Offncers
Longwood City Commission Chambers
175 West Warren Avenue
Longwood,l?lorida.
REGULAR MEETING
MINUTES
June 20, 2006 7:00 p.m.
Present: Jack Smythers, Chair
James Seibert, Vice Chair
Robert Redditt, Secretary
Jeremy Drown, Member
Chris Kempf, Member
Linda Goff, Recording S'ecreta ry
2. .Approval of Minutes -March 21, 200~i Regular Meeting.
Member Kempf moved to approve the minutes of March 21, 2006 as
~ presented. Seconded by Vice Chair Seibert and carried by a unanimous
voice vote.
3. Review of Agenda Packet Material.
A. Plan Account Statements.
Chair Smythers reviewed the Plan Account Statements for January 2006,
February 2006, March 2006, and April 2006.
B. Investment Performance Review.
Chair Smythers reviewed the Investment Performance Review for the period
ending March 31, 2006. He stated Srnall Growth investments were doing very
well.
4. Other Business. None.
5. Member Comments.
Chair Smythers said there was discussion at the last meeting regarding DROP and
a Share Plan.
~ Member Brown said Mr. Shamoun had f;xplaineci at the last meeting that when
Pension 6-2(1-06/1
entering DROP it started a fund B and froze your normal retirement fund. At
retirement. you then receive a lump sum :payment from the DROP..
Discussion was held regarding DROP ar~d COLA.
Member Kempf said several plan memb~>rs have expressed concern about COLA.
Member Brown explained the Board of Trustees would need to approve an
Ordinance. It would then go to the City (commission for approval.
Member Kempf inquired if the Board would draft the language.
The Recording Secretary explained they could. contact Mr. Shamoun with the
Florida League of Cities for proposed language.
Member Kempf said he would contact Mr. Shamoun.
6. Public Participation. None.
7. Adjournment. Chair Smythers adjourned the meeting at 7:20 p.m..
J~ Smythers, Chair
ATTEST:
~ . A can ~
~'Z,inda F. Goff, Recordin Secretary
Pension 6-2D-06/2