Agenda 05-08-08
BOYNTON BEACH FIREFIGHTERS' PENSION FUND
QUARTERLY BOARD MEETING
Thursday, May 8, 2008 @ 2:00 PM
City Commission Chambers
AGENDA
I. CALL TO ORDER - Luke Henderson, Chairman
II. AGENDA APPROVAL -
III. APPROVAL OF MINUTES - Quarterly meeting of February 14,2008
IV. FINANCIAL REPORTS:
A. Gabriel Roeder Smith & Company -Duane Howison, FSA, EA Consultant
1) Letter of 4-8-2008 by GRS (#1) - Change of assumed investment return and
methodology of actuarial value of assets.
2) Proposed change in multiplier under various projected assumptions by
letter of 4-8-08 (#2) by GRS
3) GRS letter dated 4-25-2008 - Revision of previous proposed changes.
B. Alliance Bernstein - Chris Toma, Director Client Relations
1) Investment Strategy Report - Quarter end 03-31-2008
2) Portfolio Investment Report for quarter ending 3-31-08
C. Acadian International All CAP Fund - For your review
1) 2008 First Quarter Review
2) Form ADV, Part II for your review
D. STW Fixed Income Mgt & STW- TIPS - For your review -
1) Portfolio Report quarter end 03-31-2008.
2) Letter of 2-29-08 - Annual payment disclosure.
E. Lateef Investment Management - For your review
Client Status Report & Summary Investment Results -
F. Bogdahn Consulting - Dave West
1) Investment Performance Review - 151 Quarter 2008
G. Attorney Report - Adam Levinson
1) Proposed ordinance for" 13 Ih Check" - memo of 4-21-08 by Luke Henderson
2) Legal opinion regarding military service buy-back refund - Eric Wandell.
3) Eric Wandell - a) Evaluation of mediation settlement agreement- on
Workers' Comp and b) Pension benefit worksheets - with offset and no offset
4) Ordinance No. 08-009 - Permissive (Air) Service and allowing up to 5 years
of installment payments.
V. CORRESPONDENCE
1) Salem Trust - Client Service Enhancement - SEI Trust3000 - trust accounting
system effective June 1, 2008
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VI. OLD BUSINESS
1. Trustee/Administrator Fiduciary Liability - Renewal of Policy # U707 -50103
for period of 4-1 0-2008/4-1 0-2009 paid 4-10-2008.
VII. NEW BUSINESS
A.. Invoices for review and approval:
1. Alliance Capital Mgt. - Quarter End 6-30-2008 - $9,557.82
2. Lateef Investment Mgt - Quarter end 03-31-2008 - $ ???
3. STW Fixed Inc Mgt - Quarter End 06-30-08 - $12,670.05
4. Klausner & Kaufman - Services Feb & Mar 2008 - $5,455.00
5. Bogdahn Consulting - quarterly fee 03-31-2008 - $7,500
6. Omega Recordkeeping - Quarterly 03-31-2008 - $500
7. Acadian Asset Mgt - Quarter end 03-31-2008 - $ ???
8. Gabriel, Roeder, Smith & Co. Services thru 2-29-2008 - $6,466
VIII. PENSION ADMINISTRATOR'S REPORT
1. Benefits & terminations as of 5-0 1-2008.
2. Quarterly Custodial fees - Consider change on method of payment from pro-rata
withdrawal to invoice to Pension Fund for payment.
IX. COMMENTS
X. ADJOURNMENT
Next Meeting Date - Thursday, August 14, 2008 @ 2:00PM-
Commission Chambers
If you cannot attend, please call Barbara @ 742-6081.
NOTICE
IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THE FIREFIGHTERS' PENSION BOARD WITH RESPECT TO ANY MATTER
CONSIDERED AT THIS MEETING, HE/SHE WILL NEED A RECORD OF THE PROCEEDINGS AND, FOR SUCH PURPOSE, HE/SHE MAY NEED TO
ENSURE THAT A VERBA TIM RECORD OF THE PROCEEDING IS MADE, WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON
WHICH THE APPEAL IS TO BE BASED. (F.S. 286.0 I 05)
THE CITY SHALL FURNISH APPROPRIATE AUXILIARY AIDS AND SERVICES WHERE NECESSARY TO AFFORD AN INDIVIDUAL WITH A
DISABILITY AN EQUAL OPPORTUNITY TO PARTICIPATE IN AND ENJOY THE BENEFITS OF A SERVICE, PROGRAM, OR ACTIVITY CONDUCTED
BY THE CITY. PLEASE CONTACT JOYCE COSTELLO, (561) 742-6013 AT LEAST TWENTY-FOUR HOURS PRIOR TO THE PROGRAM OR
ACTIVITY IN ORDER FOR THE CITY TO REASONABL Y ACCOMMODATE YOUR REQUEST.
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