Loading...
FMTF09-18-01BOARD Cl TRUSTEES Flohda Municipal Trust Fund Retiremem Plan and Trust For the Firefighters and Poilce Officers. City of Longwood Commission Chambers, 175 W. Warren Avenue, Longwood, Florida Minutes Regular Meeting September 16S001 Present_ Chair Clint Glolelli Member Andy McGarry Member George Hodges Berlin D. Bosworth, C MC., Recording Secretary Absent: Vice CM1air John Pa 11, Member Selma Eisen (--d) ALSO PRESENT'. Mrs.—dy McGarry 1. Call to Ober. The CM1air called a regular meeting to order at 6 20 2. Approve Minutes of the March 20, 2001 and Jove 25, 2001. Member McGarry suggested the Members take a At, minutes to reatl the minutes prior to approval. The BCartl -,tarred. He asked fthere was a need to rd,,ew Ordinance No.01- 1560 S brig himseifqurre,t. He asketl if Uce Chair Panxelie wes Boing to make a presentation at some time on arecent con(?ren-Officer Burkshire had at.—ij. M. Bosworth dd not know if the Vice CM1air got together with Office Berkshire- Member McGarry was curi0us that ORcer Burkshire rett,,I,d That the Police Officers were pleased with the Revlaed Pension Plan and he did not hale any of the revised documents and he had questions about the Revised Pension Plan - Mr. Bosworth left the dais fo make copies of Ordinance No01-1560 Wr Members and the brochure of an up- mg conference Cn the same topic that—d be held in Lake Buena Vista. Mr. Bosworth informed Members staff was preparing a -bring binder that conta,ned the Cdq,Al documents as — - the re-ntly revised documents. Member McGarry moved t0 approve the March 20, 2001 nutes. Seconded by Member HCdges and approved by vote 3-0-2, with Vice Chair Pd—lla and Member Eisen absent. Floid 0t Trtees iusd, Municipal Trust Fund Retirement Plan & Trust for the F,dfightera antl Police Offs—s, City of Longwood Member McGarry moved to approve the June 25, 2001 minutes. Seconded by Member Hodges and approvetl by voice vote 3 0-2, with Vice Chair Panzella and Member Eisen absent. 3- Review Of Agenda Packet Materlel(s) Mr. Bosworth informed the reoentlyrec If materials vnth regard to the Police & Firefighters Pension Plan woultl be copied and mailed to each Npmbe, Member Hodges moved to add the category, Member Comments, to all future agendas, Seconded by Chair Gioielli and approvetl by voice vote 3-0-2, with Vice Chair Panzella and Member Eisen absent. Chat, Gioielli directed Nat Nem Comments be added to this Agenda. 3A. Member Comments (added to the Agenda) Member McGarry saidas ember to the Boa,tl. he had a number ofquestions, the to vfilch were not P-11,1e as this meeting. As he —Id the questions, he requested a motion be taken by the BOard to haw thane questions answered so that they are put In the record. He hes r,v—d the documents he has and has five (5) questions: A. He noted In the Florida Statutes. Chapters 175 antl 185. that e�e,y three years an I'depentlent counsel was to be retained to evdlvale the money mene9e1 performance- (1) When was the last time an evaluation was presented to the BOardP If it has not besn three }ears. os,teinly the Members will wail for the three years to a. If it has been more than three }ears, he would Ilke, if.[ was eve d- to hew that evaluation_ B. The example in hie book, antl perhaps there is a newer book, was of an indlvlduat's present value of expected be -I dated 1— (2) Could the Boartl obtain a newpro forma Uowment that could tell the Members what the present value of expected benefits to a hypothetical employee, member of the fund, woultl bed C. He noted in the documents ofthe Clly adoption that the palticipanLs in the bnd niribute t % of their salary and that was a minimum number. He did not see vJtere Chore was nny tlooumentation of how that t %was arrived at and whether the Ci,efight, and police officers voted on that, or what the rationale was for Nat. In Chapters 175 antl 135 it sa15 that can be 5%, but in no case can it be less than 1 (s) Why the 1 %1(4) Why not be optional to the parficipenta some range oft% to 5 % eir discretion an eleptlw —robis contributions? He would like to have Nat briefed to Ne Boartl so that the 3— —Id get the vo,d out to its membership to ee i(Mere were eome oche, course of action the Board could recommend to the Master Trustee and the City. D. (5)Do Na plan participantsr--period,, statements of Iheir accounts and their expecletl radremenl benefitsperhaps annually or #fapolation of what they mould expect in the pedo,mance of the most 1m 1Im lbldlons of the City' Board of Trustees Page FIO,ida Municipal Trust Fund Retirement Plan & Trust for the Firefighters and P.— Off—, City of Longwood „r, �. -� �2.,�.���