FMTF02-13-07SM BOARD OF TF.USTEES
~ Florida Municipal Trust Fund ICetirement Plan and Trust
for th'e Firefighters'ana~ Police Officers
Longwood City Commission Chambers
175 West Warra~n Avenue
Longwood, I~ lorida
SPECIAL MEETING
MINUTIES
February 13, 2007 7:00 p.m.
Present: "Jack Smythers, Chair ~ ~ .
Jeremiah Brown, Member
Chris Kempf, Member
Carol 12'ogers, Director 'of ~inan`cial S'e'rvices
Linda. F. Goff; Recording Secretary ~ - ~ .
Absent: Robert Redditt, Secretary
1. Call to Order. Chair Smythers called the meeting to order at 7:02 p.m:
2. Review anal Discuss Questions for Pen~;ion Board Attorney Inferviews.
Chair Smythers said the questions for the attorneys should all be the same to give
equal representation. He suggested they review the material and come up with
five to six questions.
Discussion was held and the following questions were agreed upon.
o How would'we fit. into your schedule? •
o What kind of experience do you have with Chapters 175 and 185, and
Local Law Plans? Also, do you have experience in writing Ordinances?
o Could yqu.surnmari:ze or give an average yearly cost of your fees?
® Would you be flexible in participating in~our meetings by conference call
.and attend t11e meetings only if need be?
.o What would the contractual length be for the term of service and can the
contract be terminated?
• How would you be a benefit to ou.r City? '
Ms. Rogers. suggested they start.the conversation by letting them know we
participate in the. Florida League of Cities. Municipal Pension Plan.
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3. Interview of Pension Board Attorneys via Conference Call.
A. H. Lee Dehner, Christiansen &Dehner, P.A. No answer.
B. Bonni S. Jensen, Hanson, Perry & Jensen, P.A.
Chair Smythers posed the question of how would we fit in time wise
compared to other Plans she .helps administer.
Ms. Jensen said she did not know when our meetings were. She asked if this
was a regular meeting or a special meeting.
Chair Smythers advised this was a .special meeting and we norn~ally meet on a
quarterly basis at 7:00 p.m. the third Tuesday of March,. June, September, and
December.
Ms. Jensen said those months worked very well. for her and fit .into the
schedule just. fine. She stated the months of February, May, August; and
November were very busy months. She confirmed that she attends the
meetings herself and does not send anyone to cover for her. She stated most of
her clients were 175 and 185 Plans.
Chair Smythers inquired if she would be willing to meet by a conference call.
Ms. Jensen responded in the affirnative.
Chair Smythers said she mentioned she works a lot with Chapters 175 and
.1.85. He inquired if this was the bulk of what she does.
Ms. Jensen responded in the affirmative.
Chair Smythers said her fees were listed at $250 an hour for attorney time and
half of that rate for travel. He inquired if expenses were included for travel.
Ms. Jensen said she did not normally charge for expenses. She stated she has
charged at times for gas when the gas rates were very high. She said if she
would be required to spend the night those expenses would be passed on.
Chair Smythers said they noticed she had $85 an hour listed for work done by
her legal assistant. He 'inquired. what ratio of the time would be done by the
legal assistant versus the attorney.
Ms. Jensen said it would depend on the work that needed to be done. She said
her legal assistant can draft contracts, but she cannot finalize them. She stated
the legal assistant is usually responsible for gathering the exhibits. She said
that all phone calls go through the legal assistant, and if she can handle the ~
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matter then it is billed under her.fees.%She: tated~they handle a,lot of.work
through emails and attaching documents.
Member Kempf iilduired if she charged for phone.calls.. ,
• Ivls: Jensen said she'did-nof charge for phone-calls: ~ .
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' Chair Smythers riejuired if `there was a contractual length of time. - :
Ms: 7~erisen said-absolutely- not,.. she would work for they Board as_ long •as they
" ~ are haPpY •wi'th le'r. _ - , j ~ -
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Chair' Smythers asked •1VIs. Jensen to'summarize how she _wouldbe a benefit to
the Board since they are part of the Florida League of Cities Mwliepal
Pension Plan.
Ms. Jensen said she worked with Paul Shamoun in the City of Palatka and
'~fliey worked' very °well together. She said .services that aawyers can provide to
~a Pension Board -are tohelp youahrou.gh'fhe` system; help draft. documentation,
• ~ " or` review any d~o~curneritation presented by theE~lori'da League of Cities. She
stated one of the reasons she went out: on her own: was to-be able to provide
personal work to clients. She said she would take the lead from the client, if
only`"reviewing<investinent material ai':a meeting,~she would not heed to be
present. If looking at different types of investments; then she could help by
"telling their=what other"Plans do. . - : • • - •f.:
Chair Smythers said concerning the fees, she had listed an hourly fee and also
listed a retainer: He inquired if the fees would'be one or the•othe~::.
' . Ms: Jensen responded in'the'~affir-mati've. She sad"clients were happier
' working on` an•lourl•y~ basis: ~Slie norrim:ally does not. charge a retainer.
C. James A. Loper, Attorney at Law - 'r~..: ~ „
- Chair`~Smythers asked Mr. Loper•how ~we~ would'fi~t into his schedule. .
Mr. Loper said he currently represents other Boards of Trustees. FIe also does
estate plaruiing and'sad he has more-flexibility acid control. over.his-time as
opposed tarepresenting'n~any Pension" Plans: He inquired i-fahe Board met
quarterly. ~ - . , ~ _ . . _ - f ~ _
ChairrSmytliers•respoided in the affinnat've.`'He"advised we meet•in March,
June,September; acid Decer`r'iber. ~He inquired if Mr: ~Loper~ would: be flexible
in being contacted by conference call unless his presence was needed at a
meeting. ~ : ' • - ~ ~ -
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Mr. Loper sad•he would_be.flexible_either way,.
Mr. Smythers asked how familiar he was in working with municipal Plans and
Chapters 175 and 185..
Mr. Loper said he was very familiar. He stated he was involved in, initiating a
law change regarding the cap on the premium monies not exceeding 6% of
payroll for Chapter 175 and now every October the Fire Pension Plans receive
the supplemental funds. He said he has attended rules workshop committee
- meetings over the years and reviewed"the,changes made in the 1980's to
Chapters 175 and 185. He was involved in lobbying and connected with what
_ resulted in 1999 with the minimum benefits and minimum standards. He
advised-he.hasbeen familiar with Chapters 175 and 185 most,of•his legal
career.. . ,
Mr. Smythers asked Mr. Loper to elaborate on his fees.
Mr. Loper ~saidahe~fees would;be $225 an hour. He.stated he.does charge for
•photocopies..If he travels during normal business hours 8;00 a.m. to 5:00 p.m.
• ~ then he does charge the hourly rate: If he travels outside of normal business
hours, .he does .not charge. _
' Member Kempf inquired• if he charged for; overnight; gas, or expenses.
Mr. Loper said his son lives in Orlando so •he would. not be charging any
overnight expenses.
Chair Smythers inquired. if there would be ;a contractual term..
Mr: Loper said if the client was not happy;; they, should. be able to terminate
with short notice. He saidif a contract-was desired, they could do one with the
right to terminate on 30 days notice. He said the fees could be locked in with a
one to two year period. ~ .
Chair Smythers asked Mr. Loper to summarize how-the.Longwood Pension
Plan would benefit with having his services.
iVlr. Loper said; based on his experience; the hourly rate of;$225 was a great
value to the Pension Plan. He stated he has.,done pension work .from
administrative work to legal matters such as handling disability claims. He
said he charges nongovernmental clients a higher rate. He considers
representation.of Pension Plans a governmental service and provides a
discount. He has been doing pension work since he entered.practice in 1985.
Member Kempf inquired if he charged for phone calls.
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Mr. Loper said any of his time for services was charged at the hourly rate. He
~ stated he has never charged a monthly retainer.
4. Discussion of Interviews.
Chair Smythers inquired if the Board felt: comfortable i.n making a decision from
the two attorneys interviewed.
Member Brown said he would like to hear from a third or perhaps a fourth. He
stated the more variety to choose from the more potential for better quality. Ike
said there was a huge difference in fees i~1 the two interviewed. He said there must
be a reason why over 150 clients have Christiansen &Dehner representing them
and he would like to talk to them prior to making a decision.
Chair Smythers said they could postpone a final decision until the regular meeting
in March and contact Mr. Dehner during that meeting.
Member Brown said they could either contact him by phone or invite hiin to
attend the meeting.
Discussion was held regarding the two interviews.
Member Kempf said of the two interviewed, he would lean towards Ms. Jensen:
It was the consensus of the Board to interview Mr. Dehner prior to making. a
decision.
5. Review of Annual Report.
Ms. Rogers said the review of the Annual. Report would be postponed to March.
6. 28~h Annual Police Officers' & Firefighters' Pension Trustees' School.
Member Brown moved to approvf; expenses for any Trustee to attend the;
Pension Trustees' School. Seconded by Member Kempf and carried by a.
unanimous voice vote with Secretary Redditt absent.
7. Adjournment. Chair Smythers adjourned the meeting at 8:00 p.m.
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J~ mythers, hair
ATTEST:
Linda F. Goff, Records g Secretary
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