Pension_11-05-2025MinBOARD OF TRUSTEES
MINUTES OF LONGWOOD POLICE OFFICERS' AND FIREFIGHTERS' PENSION BOARD
175 West Warren Avenue, Longwood, FL
REGULAR MEETING
MINUTES
NOVEMBER 5, 2025, 6:00 P.M.
Present: Robert Redditt, Chair
Chris Eichler, Secretary
David Ramirez, Trustee
David Robinson, Pension Attorney
Jeremy Langley, Florida League of Cities
1. Call to Order and Pledge of Allegiance:
Chair Redditt called the meeting to order at 6:00 p.m.
2. Approval of Minutes: August 6, 2025
The Board reviewed the minutes.
Trustee Eichler moved to approve the minutes as presented. Seconded by
Trustee Ramirez and carried by a unanimous voice vote.
3. Review of Agenda Packet Material:
3.A. Expense Report for Approval
Chair Redditt presented the Expense Report.
Trustee Eichler moved to approve the expenses as presented. Seconded
by Trustee Ramirez and carried by a unanimous voice vote.
3.B. Distributions and New Retirees
Chair Redditt presented the report.
Trustee Reardon moved to approve the payments as presented.
Seconded by Trustee Eichler and carried by a unanimous voice vote.
3.C. Quarterly Investment Report Ending June 30, 2025
2/106
Mr. Langley presented the quarterly report. The beginning balance was
$33,697,580.17; contributions were $589,758.46; earnings were $2,202,803.94;
distributions were $325,852.26; expenses were $14,313.45; and the ending balance
was $36,149,976.86. Mr. Langley reported that the quarter ended at 6.49% and
informed the Board that the September 30th quarter returns were also positive. The
Plan should meet its expected rate of return for the year. Mr. Langley informed the
Board that the money invested in the US Large Cap funds with an active manager
has been moved as of October 1st to S&P 500 US Large Cap index funds.
3.D. Approval of Actual Expenses for FY 2025
Mr. Langley reminded the Board this was needed for the Annual Report.
Trustee Eichler moved to approve the expenses as presented. Seconded
by Trustee Ramirez and carried by a unanimous voice vote.
3.E. Meeting Dates for 2026:
February 4, 2026; May 6, 2026; August 5, 2026; and November 4, 2026
The Board reviewed the dates for next year.
Trustee Ramirez moved to accept the meeting dates for next year as
presented. Seconded by Trustee Eichler and carried by a unanimous
voice vote.
3.F. Implementing a Deferred Retirement Option Program (DROP)
The Board discussed how to implement a cost neutral DROP. The Board was
informed that the DROP information was given to the Union. The Union is also
looking to implement a “20 and out.” Mr. Langley informed the Board that the DROP
could be implemented with a Memo of Understanding before the next Collective
Bargaining Agreement is negotiated.
4. Other Business
The Board noted that the DRAGO balance was not in the agenda packet. Mr. Langley
will have the information email to the Board.
5. Board Attorney Report
5.A. Disability Forms
Mr. Robinson presented the updated Disability Verification Form. As previously
discussed, the Board will stop requiring members to complete the form once the
3/106
member reaches normal retirement age. The League will administer the forms to
the reporting retirees bi-annually (every other year).
Trustee Eichler moved to approve the forms as presented. Seconded by
Trustee Ramirez and carried by a unanimous voice vote.
6. Member Comments: None
7. Administrator Comments: None
8. Public Participation: None
9. Next Meeting
The next meeting is scheduled for February 4, 2026.
10. Adjournment
The meeting adjourned at 6:42 p.m.
____________________________________
Robert Reddit, Chair
____________________________________
Jeremy Langley, Recording Secretary
4/106