FMTF06-15-99Monad or ~rnusnu~s
laodda Mnnldpal Tntat r.,nd aedremen: man and Tmsr
-or the Cirefighrers and laolice OIFt¢ra Clly of f.ongavooJ
Commmrbn enamberx ns ta. vnte~„ naanne, L,n~rnn<t rlndda
\IlNlrl l'S
Anne Is. 1999
I'Itl'.SGNT: Chair~heila \Y'ons
viamlxhrJorepb nmhr
Mrr,h<r ~onnnn aeheho
Mranbcr Sclarm F scn
L Call w Order.
The Navr caallMnn:gular me tingro onterat 6:29 pan.
2. Approve March th,1999 Minmes.
MSC Eisen/MObr7 to approve the March 16,1999 minnms, approved 4-0-1, with one Board
7. Dlseussion-Eiduclary Livbihty lnemm~ce ~-memorandum datuf Jane t, 1999 tiom
Monist ~lin'tJ. lainuncia $C[a'IlG'IJhnlbr
:\lember Eisen understood that tho 13trnJ baJ a tidusiary responsibility and could be sued, auhich
vet-u tables nJ.v ~s p~vneiJarly ~~n nable rvher ee4sea-
nsakrng deu io u anJ sha, pcrsaowllp, could beheld aenounahle~ Itutthcr, whilcshc believed it wz~
me l3nardm mn~adn< nduerm rtney nrr,ic~l d,n and otn t. g)&E)
mar:rsnee, the aura{.. to placm'.n a pmea::nna enndldnn n n a <l oat naae mm ~~nran,<.
hlembats disaissval the ramifications oFnor having this insuranca, esporially .with some odter holy
nak;og hr nal des ~ ns and this Board being held Inble'. nacmheR concurred that the memhen
necvled [Ite O&Eiersuranee.
Chair lY'ons thought the 13mri.should received a wpy of the ciry:s policy for whamer wveragc
sv,n~bcing proviJoJ.
Member consensus to request dte City Administrator attend the next meeting to onsa~er
questions from the Iioartl.
MSC (Eisen/ILebello] to acuPt the Arthur J. Cmllnher& Co. -Orlando Fltluelary IJablllty
Mvrnb¢ Iirbello inyuval as eo avho uns the Board ntro my
min
Bwrd of'I'rust~s
rmdaa Mnni~~rrmar gnna arnrenem Irhm w,d'rmu
or d+c Iwnghma and I'olica Officers
June 1i, 1999
P:tgc 2
Gletnber MOhr poimeJ out afar su~asmd and« mmendnl, by repro other
govcmmtnN cnvnes-nor chose p~rtingo: thc.ontcrcme-who wvv in anenr{rim ar nc~
he had moo rndra d,at if me Hoard hired mro ncv(a) o .n..onnntnga) ro mke
varv of the Iona, ro hirv ontsidcnthc ury.
Memb¢ Itchcllo said the 6oerd was ro be protecdng the pmplc.vhowerc'in tfie pension plan. the
ury's arm ney.PVS o pro evt the vity.
hlemhv: Alohr informed mesnhers dsara munber of the palm Erich Counry~ la'ire Depvnmrnr.
.rho had been in tlsis pFan faraboat IO yeirs. would be willing to come up to lnngwootl and mlk ro
the members.
VOTE ON MOTION: AoII Call Vorc Ghair Wons voted aye, Vice Chair Mohr voted aye,
Member Acbello voted aye, and Member Eisen voted aye, with one Board seat vacam.
Choir \Vons Jireered Ihar ehc Oir¢te~r of ltinnnual,scrciecs obeain Ilsnr coverage for nc~ Isrnsion
Hoard.
4. Approve AnmtalAauari:tl Valnationa and Antlwrize Paymem for d.ia Service from the
Plan ASSers-per mranorandum of esphtnnonf mM1lonio Mittitell.linvnvinl5an~ivev
Dirccror ~rhis rwm eonmtued from the meeting o[ Mard. l6, t999~
Chair \V' Ons sorted d:c Road.vameJ ro know Alember Mohi s thoughts on rbu~x it wasa hefty
cpendimre oC funds which wou1J more one of nc~ pcltsion mentbas' funA.
Alemiscr licbcllo noted NA. Mirviirll.vantexl the oudir porFormed ~.utnunlly, bur that ir.va. only
required crery nvo years Additionally, she yvc onW if s. Mitchell had nc~: arho o redder
rheciryrs:, o-ibu She askul it the Bonnl mode theder rniuc xdid \istytifrchcll
oddly make char dee :she. as lowcdng rfic rate of wnnbuaonrol2.Q30°/e_MCmbcr
Acbello believed it should soy ar 12.I]a%.
Mamber i\lohr Iselicved the employee shoulJ h ce to pay lees into the mod and ler the city continue
ying dre 12.112%.
Chair \Vons vomd in Als. Alitt'hcll's mnnorandum darts Occember 2M1, 1998 memion was mode or
11131095. She qucstional why a synopsis.vts not provided wirh drar mvanomndam. 'Ihe hoard
MSC 1Aebello/MOhr~ to take a break, approved 4A-1, .rdth one Board seat vacam
Minu
Board o
I+lon'cla i\funiripd'1'ru and It ~r plan avd'1'rvsr
or me Hm~h~ ewrrnhaa on~~crrr
Anne Is, 1999
Page i
1'hv 13oaN recessed ar 6:55 pm. and aewnaenu(ar ]:I] p.m
elku vdd~tional diswssion mgvding IIII IU15 and 5131830 and nosing the lao'iravas mo lengrhy ro
digas vorytev~vnuns,i[ave suggaaed shat the G'ry Adminuvnrorpro.idearynopsisof the
hills ~o die 13osrd.
MSC ~Rebello/Mohr) ro ask dre Cily Atlminisrrawr m provide a synopsie of HRIO)5 and
561830 6r the Sepmmbea 21, 1999 meel3ng, apprnvetl 40.1, wish one Roertl sear vacvn~.
MSC [I2ebello/MOhr[ moved m vor change the ciry'e eontdbmion race bet leave al 12.I'12'%n
approved 4-0-t, with one lloard seas vacant.
5. Update 12eport on rbe 20th Annual Poliu Officers' and Pirefiglnera'"pmsmv2 $CAOOI -
-Members nlohr and Uurkshire
Mcmbea \lohr gave nn calrndcJ mpon. pointing our Ihnr Inngwnod`s polire ofburi and
udghrers had the lowcs~ pension plan in Seminole Coun~y. If n member had worked for
I.ongvood 10 ro 2A ycan, he/she oulJ no[bv aLla r vnllu idl ~5 yv, of age ether did
28 Ym oFse tuber rind collet tage5 Atn hrn nett r. ~f2°/I for 25 pe.~rnf
mhea uld only cR as 50""/0o salary ve alhe olJaarv mi t.sysn
chaa mbels r oulJ ba Irurdlon 3°/~ for 25 yea ning a tuber uld he able
aich 75"/ o mhryn Mdramcnr.vu Corr oily hnseJ on nc~ hlghcr h c yrvn of oni s lair
trn yaaas of scrvi<n.1
enaa tuna Anna meelryo ~nf9N lnda aan be or rlan aaplalning ~naea hlghcr tuner
vibun ssmid by d~eaity oFSnn ocd then avlia ~s paid Ly checity of l.onynvaode-It~e oily
ot'l.ongvoodvonly mid l°/.vhile SanforJ pail it°/a plus 5'%[or the meinbers'conaiburioa In
Inngwaod d+c members mnvibum I%.
ember \lohr norm the 1%was the minimum member con~nburion. '1'ha[ Irad been lomercd. she
new minimum avas'f%, wnsequcntly, the oFl.nngvooJ w.aa abmchiv minimum.
'I he Racording Seccerary ayes mduesaed ro male cnpiu of the Contuence Linder im~eml br use
and refcmnu by the members
.~1unbn hfohr veld IMCwas somMing d~c C"n3~ Adminism~mr needed ro addrrss~ as hr~ would loose
omployces hecauac of the pension plan.
,.in
Bost of Tm
I9odda d,nnlo'pal Tms Irund Refieemenr Plan and "Cms
or O.c I~irefighnn and Police ORi~xrs
June 1~. 1999
1'xga J
Mvmbars noted Aar [he City Admmismror rv.~s looking at a ditterenr Plan, o e which would he ~
be cr plnn r all employees, have n defincA henenr, and that they necd«I to discuss Ais whrh she
City r\dmmunaio~.
MSC (Rebello/MOhr~ moved drat a copy of Ae Plan Bene(r Analysis comparison be given
ro she CIry Adminis~retor end rhar he arrurd the September 1999 mreriog.
Chair \~'on orM nc~ city oFCongwood, in c mpar~son ro oAercines and ages its in Ae snie
.. ac nt the bottom oFAc pile.
mhw asbed ho -onhblc. cthis or l,ongvood. what. unc~ ciq's manual simannn.
rvrd could the vry arorA an sddrional mourn wirhom nrJsing re cs.
Nlunbcr Tlohr oaphinal under Ac olA s[nra mmm~icm ystun. Ac city pail apiroaimarely 2J'%:. ro
26%, and norv nc~ ury's ronMbution.vas 121"/d
Munber Esxn yn. nd Ae 11oarJ hnd ro find ourmby Ae ciry mvid not ~minmin that 26"/a.
Atcmber o.phinal rhar nc~ .n bas wpredii: redo what rho swithin l..ongwood
could nfmrd to puy, Ant w.u cons <Iwed reasonvhle for i s populxnon.c~u..
Alemhel Rebello commcn[ed drat Ae urp of lungvood had become Ae rminv~gground (or so
any other and rlrec unry, as Aeciry dd nor{ny equivalra~rsalan~e. Ir cacr more ro
eom:nnally Ra~:,~new rn,pmyeev.
Member 11ohr uo~ed races had noe been rcducM eoncurreni.aieh nc~ reduttion in rvhar the ciry
was paying relniivc ro the rericemen~ payinrn~.
VOTE ON MOTION: Approved 4-0-1, with one Board sear vacant.
fi. Review and Uiscusa Ireme Ivclutled iv the Agmida Paekei Relative io Pension Tniei
Pr~na.
Cb.dr Ivons noes ahe had redo«I a memo dnkd May zP, 1999 rogarding maivia~l rim
rthepenodo AprNl 999 ohrough dpril30_i repro ping the , nAe
uo Ac Plovda Muniupal'[msc ~ nd ~-and Aea and pobce Ae Lovg-
S¢m Bond Portfolio Holding, as of A{ mh 31- 1999 asowell as ibe pubhca~im; Permian Nw+'r 1'an
Grn Ure.
]. Pnblic Paniciparion. Nona.
oe./a<.aml ~no~w ~e aaJ~u.,,,,~Fro~~d o-ba,.rim o~~e me.a,...,,
,..c-i ~_