The URL can be used to link to this page

Agenda 11-08-12 BOYNTON BEACH FIREFIGHTERS’ PENSION FUND QUARTERLY BOARD MEETING 2:00 PM Thursday, November 8, 2012 @ Renaissance Commons Executive Suites 1500 Gateway Blvd., Suite 220 Boynton Beach, FL 33426 AGENDA I. CALL TO ORDER – Luke Henderson, Chairman II. AGENDA APPROVAL - III. APPROVAL OF MINUTES –Quarterly meeting August 9, 2012 IV. FINANCIAL REPORTS: A). Bogdahn Consulting – Dave West 1) InvestmentPerformance Review for PYE & Quarter 9-30-2012 2) Review status ASB Capital Management – Stmt of Account 9-30-12 3) Valuation statement 8-31-12 Princeton Futures Fund (6800 Capital) B) Attorney Report – Adam Levinson 1) Four Year Terms for Trustees - Status 2) Class Action Processing by Salem Trust – Various ltrs. 3) Letter of 10-5-12 – LeRoy Collins Institute Sept 2012 Report V. CORRESPONDENCE – 1) STW guideline Exceptions Report as of 9-30-12 VI. OLD BUSINESS – 1) Summary Plan Description – Modifications or additions before update. (SPD dated Dec 2008) VII. NEW BUSINESS : A.Invoices for review and approval: 1. STW Fixed Income Mgt – Qtry fee 12-31-12 - $7573.59 2 DSM Capital Partners LLC – Qtry fee 12-31-2012 - $ 4. Bogdahn Group – Qtry fee 09-30-2012 - $8,375 5. Tegrit Administration – Qtry fee 09-30-2012 - $500 6. DGHM – Management fee 09-30-2012 - $12838.18 7. Klausner & Kaufman – Service Aug/Sept 2012 - $7110.00 9. Exact (Macola) Annual Maintenance - $463.75 – $ 10 Anchor Capital Advisors – Quarterly fee - 2012 11. FPPTA membership renewal for 2013 - $600 12. Micro Focus –Supportline renewal -$ 133.61 13.Intercontinental- Management Quarterly fee 6-30-2012- withheld from dividend reinvestment plan. $12,469.66 1 B) Steve Palmquist, GRS, Retirement – Letter of 10-15-12 C) Scheduled 2013 Fire Pension Board Meetings - review VIII. PENSION ADMINISTRATOR’S REPORT: 1.Benefits as of 11-30-2012 2.Article “Dead-but Still Getting a Pension” IX. COMMENTS X. ADJOURNMENT Next Meeting Date – Thursday, February 13, 2013 @ 2:00PM – Renaissance Commons Executive Suites If you cannot attend, please call Barbara @ 561/739-7972. NOTICE F’PB IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THE IREFIGHTERS ENSION OARD WITH RESPECT TO ANY MATTER ,/,,/ CONSIDERED AT THIS MEETING HESHE WILL NEED A RECORD OF THE PROCEEDINGS AND FOR SUCH PURPOSE HESHE MAY NEED TO , ENSURE THAT A VERBATIM RECORD OF THE PROCEEDING IS MADE WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON .(..286.0105) WHICH THE APPEAL IS TO BE BASED FS 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 .CC’(561)742-6060- BY THE CITY PLEASE CONTACT ITY LERKS OFFICE AT LEAST TWENTYFOUR HOURS PRIOR TO THE PROGRAM OR . ACTIVITY IN ORDER FOR THE CITY TO REASONABLY ACCOMMODATE YOUR REQUEST TB(C).I HE OARD OMMITTEE MAY ONLY CONDUCT PUBLIC BUSINESS AFTER A QUORUM HAS BEEN ESTABLISHED F NO QUORUM IS CC ESTABLISHED WITHIN TWENTY MINUTES OF THE NOTICED START TIME OF THE MEETING THE ITY LERK OR DESIGNEE WILL SO NOTE .B THE FAILURE TO ESTABLISH A QUORUM AND THE MEETING SHALL BE CONCLUDED OARD MEMBERS MAY NOT PARTICIPATE FURTHER . EVEN WHEN PURPORTEDLY ACTING IN AN INFORMAL CAPACITY S:\CC\WP\JANET\FIREFIGHTERS' PENSION FUND.doc 2 .ti w W.4 '. a !E N i� 0 n4 tli X IM 3 O ttl ". $ m a .y PI 0 •, Z a� -_. A 2 b oc CA r 4 t: A CM 9a r c Gri ow I A zl D CC H > al o 0 C. OC - N y H y O o O !!1 oZ w -1 70 0 v� - H W 1 tri til w o - o co = x � 1-1 ro G - w ti o ■ — t L t C7 Po R, o • day o I.4 , t H ■ - w t4 PO 71 — 4% * - ti] o � oGt� z 0 az r Ni H U] b - w H O W m -.0 m MI CA En X) & m o-4 Cll N C O 1V Lo N 1 ��1 O1 .. m -n - o 70 1-1 .r m N .. x N w m s 8 1 g w 0 o -0 0 N � 0 0 o W '' N •P * * * IIflWfl .., eA - • o 0 y m $� m n O 3 • M H n `G 7 am � D 0 .4 Cn o C y w om A C CD Ps y -4 N A m 1.4 H , m o C NI m o c O y 0 - Z 0 w < fib Ni a --1 o a m 0 $ t m r -4 i < m H m 3 88 A y M r F. M 0 z O 0 az -I DD Cm r 12 0 l 2 8 m m w �+ m w 1 m xp N l a 01 A w N + � 111 111111111111111111111 § \#/ co o 10 § / -1 - e ■ .n� § o R \ a § ■ * in e " 10 e / q In m up i §� §� �_ ) _m 2 E� q § � �2 I J § C m § c 2 -I n . r g XI X 1/11 7 01 c: \ -' ¢ In 0 o § ' x » C.3 @ 8 . m § 14 2 § -4 to § - r- k. . 8 M -1 �X G-I k 0 .. ■ �§ to ft SPA W-1 I- 1>o 1 ° �_ > m < 1t) m y ru mm Ali •2+ -4-, 0•+7o -ir Orm v oormmrnm a Z m H n 3 �+ i i sz - immS fCii> m - m Zrmi� -�i - I ,- - M 2.11 m D a 2 w 1 0 3 NN O3N -ir 0 N X OX 0000 70 Z +� a< d D � M H -I ' i - -I , yQ m .i .. M ...‹.4.4.4 m Z > r,7 3 mm »1 ..#sm71 >0m.+ N 3.330mmmtnm W .. S 3 r O< m Z 370 rmmm, CC r..N< c rmo C Z w�i Mm -i NN ni "V to m 010 M 00 -10X/0 m 6 f �� o R1 A - -•72 m - 1' 1 1 m MN .z. . mm 3 m (/� qe M w N o Ng ZZ-I NN ZyM'or -4m-I -n y -i mZ -i N Z p0 -I - 1 -� >rm i o .a -. N -i - o `.0 Till IN -ii $ M < "'i N -� M�M� Q M < M p m > A � > < s sm E M M m Milm -I m -i N m - tz C C ZZ m> r m -I< w Z)cm -1� cOZ c ox•m 0 0 m .+ ; -i I o m Z C m 11 -420C to -i Z< 0 3 0 rm m -< m mm>m m mot -I C .a N3 0 ., N i 2 q zzz mzz i Z 0 •1 z 2 m AZ .0 r NO ►+.� m K N m N Z z m -1 -i c v N >X vm > m N m N 3 m -n m2 mu'nr N \ N 3 - N 1-m moo > Z m o m 3 Boa 0 P. N m71 w < 7 N N N p N P4 -40 N -I ON r 1 N N N N N m O 3 I m 3 v > m �p 70 m .+ m O -4 0 O 1- d r • C O m • > m N 8 i M 0 pC r S P4 M 0 0 0 Z t1) 0 N N 00000 p p 000000 0000 p § 88888 000000 8000 00 QQN N v Q 0 C 8 0 O O 0 o 8 0 • • S S SS S S 8 0 m A 1101 1111111111111 oo 0 w a w A _ g CD a.'0 n O 0 Y o a, VD gy ° o n �" t cn AD c a n� � CD AD Po OT4 0 o �• NPP " ° `°F a 'ri00 • n ° g oo ° ° 0 < 0 ° o n ^ �c o y a ° a . n c l 1 ~ 1' �, o CD 7 C C4 CD< > n 0 CID O cn O 0 C 0 C Co pc' Lj ca. 0 C7 C Q ^' .r O L N cn C • \ 1 R - , - , -, CD - . r)0 -t � d a d rD nom' n 0 CD 0^ b• o < = CD • H V - n h Q, V1 (p n n . y n a O" CD aq a a (7 AD n = w o ° emit- ,- N ;_,po 7 " 0 c F, o (T ^t.) w clq " -• o c N 5 x c Y O O ' 0 0 g O 0 <o °- ° c o o o 0 c A .. 0 n n '< 0 o �_ k Id a . a . - = C7 . o • n�� as �XCH -i ` o n. v O n '. n o f n t`-.) t‘,...) n a- po cn � o o O 5 0 ' v ti � O a. CA O .-t Z o-t, w ti •suoclowuacl ppudvo jo 9mim aql gain Sum 'sluaucaovld al8ntad'sansss uc uo!lvd!o!lsvd uo pang su.Rpaa s,aolNnu! aaglo tuna; AM ,Beau aanlaa s,aolsana! pnp!ntp ! try la) aoavucagl.tad an!lwoa1 aql aagv palalno!vo wag nq uasuaa 1910,1, 'paRnstm pus pawmpla s! a3avuuo3aad * 5IL6 LI£:X 0066 I£ auoQd ('K'] d ro 20909 l sroutlll I olvoigo I.�oot3 g,b£ `uosipvyi M 1 81 V�J ■ T'� :tCq paavdacd,Cpuapuadopuc summons Mind I " D - 1 - 1 In?dYJ 0089 soqutoyq 9ufEvull4 -00 1"31 "1.1. naldusoa pug oivsaaov szivauors sup w poupuuoouozlvuuojuz oqs ` ortq puv Apoimou, I Au; Jo ;MI oqi o1 pup wage Aqazati woo aaoOlel!ae e retueuotus 5659 I Z6 -609 easutEt DV anS - D I 'I `Iel!deD 0089 ISOWNO* . , %(10 0) Z I OZ 't £ lsn8ny - aleQ- 01-1R A %O E, 0) Z l OZ 1sn8ny pouad aql aoJ tutnag ZL•9Z1`£00`117I sse1D 3o anlen gassy lax 8u!pug L5 LS 88Z'1175'891 pun j jo an1EA gassy 1a■ 8u!pug 00 00 0 aaJsuE [ 1 pouad 3o pug (18 (176 L917`I1) lemEapglti pouad Jo pug £6 l Z I `65 l `8 00'000'001'1 uotuppy pouad Jo pug (£17 855`661`9) 81 6L9`Z uotlEoolly E1eJ -oid ao3 algElteny a mooul laN (£17 109`Z9) 88 9Z %I d9 - uounaoITV IEtoadS 1£ 906'1170'081 5V 050`0517`L9I pund 3O anpA gassy 1.1N 8utuutag 1 14 04 4 *Patti 5£ L69`6617`Z 5£ L69`6617`Z Z 10 `I £ 1snny aouJleg lun000y 1EltdeJ 8utpug 00 0 00 0 taJsuell pouad 3o pug 00 0 00 0 lemEJpgum pouad Jo pug 00 000`005`Z 00 0 uotuppy pouad JO pug (59 159 ZOE) uotlEO011y Elegy old.to3 atuooul laN 00 0 00 000`005`2 aouEleg lun000y leude� 2utuut8ag nitt eraaA Patna aqa io41 Aiworniksiamaastvapatmq dno.19 ugepog aqs `uttupy uotsuad `anuE -1 E.tgaeg .yj Z10Z `1£ lsn8ny aluU uogenlEn 9217££ 'Id `gOEag uolu,Cog Z I0Z 170 aagolop paaedaad 31e(I OZZ altnS ' PAM "ma1EO 0051 SZ£ 1 apoD lun000y ateg3 `uosaapuaH .tyAI •uuy pung uotsuad and i3eag uoluJCog sseD 11 )�9 `pun3 sawnvu uopaupd ANddWOO 03NM0 NV ONI'S30UV:I3S A2lVI011013 S fl 3O VVIO1S8f1S'd SI LNVdW001Sf11:1 J131VS 1U07 Isn.1IivajtJs ozozx E6�I SLL (D6) XHd • 89Z4 (LL8) 'ICI r 1. `G I3 '1--DV uff Q''.3I32I1IU • EO [ ''JARIU WMC IIV3 9Sb VVdINIV L HDVdg alaum 1I ZLLS - 9Zib (t S6) Lun3•4sn.TlLUalus @LU3sLTiZI•puzg zaar330 ant;naaxa JOTTU puu ;uapTSazd `UJOSUTII • }I :Salpuzg 7 • `spzt2a21 •uoszad UT zo auogd Aq noes rpm 3IIui o4 Adder.' uuy azoww aq TIM I `suousanb (ue antg no 3I •slutzInsuoa puu SIOSTApt s,uEId znoA Ili put `pzuoq age `s3uaga Trio Jo 4nduT aqi anlun a� slump 'ray 43Tm ;uauaa2r2ua uado `4sauog sutipolsna zayo utozg ;ztdu 3psli seas lsnii 1u ItS 3fwg4 I sn gum 3auzluoa znoA Luoz3 iaadxa szosTnpu znoA zo noii 2uipuulszapun luazzna ay 114Tm 2LmoT14UO3 41 Jo uousanb iiuu ST az31.14 }T 3OTnz3s paJurgua sign 3uatualduI[ 4ou Ilan 3snz1, maps •uorlr url SMITZnDas UT asta.DUT Uu Jo a2uauttp age 4aaLu 04 pau asap aDTA.I S panozduTT zanIlap oz s4duwa34t qJ pooh zno Luoz3 2uu1nsaz UOISTIJIJOD JOJ aZT2OJOde I •sa2uzga aaj put aDTnzas 2utpzu2az 3uauzaazIV Iuipo3snp zno UT JOJ paI>;a sda4s age moll(); am su isud ally uT anug am su 4snf saainzas Ouissaaozd uor sstp aptAozd anunuoD Rim am `azo3azag,Z •a2uBLp t tpns a4uT TUT O3 pua4uT 4ou pip a •3Uatuaaz2V ItTpO3SnD zno g4Tm 3ua3sTSU00UT zauuuLu t ui saa3 put s zno 01 a2utga u sr pai TA aq pinoa 3uauTaauugua zno uouua33u ALIT 04 ;g�nozq uaaq suq 41 •aainzas 2urssapozd uot4au sstp zno 04 ;uauzaautgua uu 2UTpzaaz no A o4 a3ozm I `Apuaaa21 `anpwj zu s;uauraau>equa 2utssaaond uornae ssi p pasodom :gg 9Zb£c 'Id `gauag uo4uAog OZZ a4mS "PAM Auma4 00S satins anunaaxg aauusstuua21 ova uotsuad sza4g2T3aTT3 gatag uo3uAog anpt-I tztgztg sy� ZIOZ `II zago 430 A N W O J K„� r ,,_f• utoa Jausnnlyh►tayoi A1 MAN Z£Z I - 916 (t56) X<'_I • ZOZ 1 (tc6) 3NOHd 1 daIIO]3 . N01 LV.t NV Id La1LOJ .LS I IS_t. «ti.iaON 60Ol •uoissnoslp sly} }o }sAie}eo ay} si polynn 'swap si! jo Ile o} }uas wales pue}siapun am ley} aa}}aI aidwes e y }im 6uoie 'oldo} sly} 6uip le w wales o} a}oJnn am Ja}}al ay} Si owaw sly} y }inn pasolou3 }snail wales i(q papi■oid uoi }ew.lojul ie}uawaiddns Aue y }Inn 6uoie '6ul}aaw preoq }xau ay} aoj epue6e ay} uo wa }I sly} aoeld aseeld •suol }sanb Aue y }Inn Iieo o} awl Raj •suoI}epuewwooaa pue swaouoo ino saquosap aouapuodsaaioo payoe}}e ay} ' }sa.la}ul }saq s,ueid ay} ui }oe o} uoi }e6iigo s }I pue tielonpu e se alai s }l sari }uapl RI }oaaioo wales }ey} paseeid ale am allq\ aa� paseq }esse clay} jo Tied se aolnaas sly} 6uipnloul Aisno!naad seen wales }et} pue}sJapun a\ •sauanooei uogoe sselo Ile Jo %0Z ag tom ao1nuas S1111.101 a6ieyo ayl •iopuan Aped paly} e o} 6uissaooad pue 6ulio }luow uogoe sselo 6ui}e6alap aq Minn }snag wales }ey} ilaann sly} uol }ua } }e 'no o} aweo }i •ue!po}sno JnoA woad 6uiniaoal aims noit }ey} saowas 6uissaood uogoe sselo M21nal o} A}lunpoddo ue se an.las ueo owaw sly} 'uelpo}sno aay}oue asn 1g6iw }uailo e }e }uapca ay} 01 •uelpo}sno clay} se ism' wales asn oynn swap Ile o} passaippe Si owaw slyi Z 1.0Z `Z N380100 :31VO ONISS33O Id NOI10V SSd13 :321 NOSNIA31 N3SN3f ` NHWdfVyl `H3NSfV1)I :WO21A NVIaOisno Sd 1Sl211 W31VS ONISf SIN31l0 fl' :01 Wf1ONV2IOW3W si moa•aausnumpl.Iagormen n Z£ZI (iS6) :ky3 • ZOZ[ (PS6) :3hiOHd VGIlO13 'L1111OJ LS1 LSBMHL?ION 6g001 'spaaooad uorloe sop ajgenjen 3o ssoj Jo xsu snouas .ro isoo unnouojun ue of spun] aq1 asodxa pue satlnp loanuoo S1! n1je,Cjje.Iaiejpm o1 orates sazuoglne imp Supji,(ue Jo atenneun rue j 'paa1Se osje wares gorqnn 01 aoud =Iwo° alp ur pamodroout pue orates iCq or paa.rSe ,(inp ,(rwpnpg ag13o i red sr spa 'uopan ssnp v ui (s)iunpuaap atli ;suw v stump lnrivalod .ratpo Sulsnala.r aq rfnru lrldpul.rd puv `i.rnoa .winapavd v fo uolialpsl.rnf at(i of Sutiittugns aq e(vur lndpul.rd fivtlaq s,lbdraul.cd uo uaxr7l suorian tlans fo ilnsad D SL' imp saSpaptotapv /VdrauiJd •iunoaoji aW1 ul satil.rnaas 8uptionur ilns,rtnl uouan ssnp ,CUV ul aindralidnd aspadat/io .io utivp Jo sfoo.rd and :satinp ioenuoo s 3o auo se (ioeriuoo uejd att,� apnea arp uro.j anti paionb) aSen8uej Surmopoj aq1 put djuoururoo •uasuar. ruuos .rauired mo Jo asogi pue sivarjo mo g21M surautaar2e jerpoisno ie Sunrooj ui - lump paaw& IOU sluatjp pun3 uorsuad mo ,(q uasogo iou Aueduroo a o1 •(irjigrsuodsar iegl pa.uajsueu pue `aor1ou pantaoa r ann / c e p auras 3g1233JJa 3)[ 101 luauuaat2e jerpoisno sit Jo surral iapun uorleStjgo °wads a paleupurja Xjjeraiejtun peg orates letp `j .rago130 uo ureaj 01 pasudms aimb 313M aM :urasurg 'ITAI 1e2Q Sugj uorloe sseD :aZj woTTsna ;wa1esvo wasuiwpea8 [jib££ ePuo1 I `goeag pjar,JraaU £OI aims `anuU Aenn.rred Sgt, Sueduro0 war! orates 030 �8 luaprsard tuasur a •x ,tajpejg [ OZ `Z 10 g 0 1 0 0 tuoo•aausnapjpuagorgqoq s adM'Lcz1 00001Jsw 3SIP ctTh PM1'M od:xa -t IHNSflYDI "a IIIgSOI `1Cja1aouts •.tofosnuoogns i(q pa2mego $uiaq aaj aql Joj sisgq pus maps of Aftnjlos siul ;o lsoo aqf ilunuaouoo uotpemzojut aul 8utncaoai alnioaiddg mom am `mualut agl uj •no/C gninn iaflgm auf Suissnosip of pasnnro3 xooj aM . magi palBaio mill luawa:132s pnlnm awes aql g2nonu paaafp an ,Caul jilun pub ssapm suop2Sijgo p3nloex uoo slt aniasgo of maps ioadxa op am `ia118m stuf anjosaa Am on= of jp jo lsaaalu! aql m si lI aj •pagzlsnf s! %OZ3o 003 s nnoq pug `lomluoagns snjl.to; uotpgiap►suoo i(ue pamaoai maps Jaulagnn `suogsagtj9nb s,333 SuumuSai pauuoJiad maps aouagijip anp alp `330 Minn luamaa ilv aul jo slum aui 'mu! palalua Nam Sluam221213 pipolsno alp amp pa2uego anew Ism pue i(inp aui go= Moq ` &upsoo st aoptias sup go= moq mom! of paau Ajuislno mom aM •xse pub spun3 aqi alum noIC puaunuooas ann luamaaIS2 aui jo uotlejlo2auai s xaas of qsi i noif pjnogs . op of paai&s ICjjgnlosaluoo mg It su sunup uojloe ssejo 8utjg anujluoo 01 paps2ijgo sujsmai maps legs anatjaq ann Ipso.' s sy •sajdrouud X isionpg paldaoos pus los.auoo agl glinn fuals!suoout s! `aouou ou glinn `,Cjp zal$jIun Supply •foealuoo alp aleclo2auas of 3jse pug saamolsno sft of xosq amoo of ,Cfnp s seu li mu `,Cpsoo ooi si uotlsilo2au q 2uaj -suuu ug u! Jjasli uodn x001 ,Cjumunjon 1► gonjM ,Culp luauno alp 1841 spug maps 3I onni, abed Z j OZ `Z 12go13O ANVd1A103 03NM0 NV ONI 'S30IA J3S A2lv'onaid S fl AO A2!V!CISBflS V SI ANVdWO01Sf 81 W31VS WOJ { afOZfl S6l? "0£ (£I8) XVd • 89ZS (L/8) la • LO9£7; 11'VcITAVi • OSL 3.LIPS'Qn1S 321OHSIS3M N SILL Vdl'IV1 HD vaa aillA Idda '(DDD) uotlezodzoD �utzeal� ouatgD 'Istiepads 2unssaaozd sunup uotleSpij uotlae ssep paleaipap e ;o saaznosaz pue ast}zadxa ay st ssaaozd uotlae ssep suotlnjos urapes auI olut palezodzoaut MON •luauzuortnua uopae ssep 24uega all ;o spueurap 2utseazaun ay of puodsaz 04 zapzo ut saatnzas uopae ssep zno 2uiauequa aze am ZIOZ 't zagolap anpaa; ;a 'alepuew Jizeranpt; zno 2utzouoH •Isazalut }sag s uejd znoii ut ;Du sXeMle of palazjgo aze am 'ueid uotsuad znoii of X.Ipanpq e se 2urnzas . satpApau uotlae ssup 2uussaaozd zo; uopnjos Ieatuzouoaa Xltjenb g4tH ueld uotsuad znoX 2urpznozd zo; aigzsuodsaz aq 04 sanutluoa unajes sluauIXed 2urssaaozd pue spzeMe 2utltpny (z luatp all of Vupzodaz snlels 2utpznozd 19 pajq stump Mau ;o $unzoltuouz Aiwa (5 pnoa all 44.1M p S'utjq pue uopeluaunnaop utzedazd (I, llgt luedtapzed 2utunuualaa (£ sgugq uopae ssep Mau ;o uotleatitlou zo; lazeas Allep e 2upanpuoJ (Z ueid uotsuad all Aq pauMO Alpnaas iizana ;o pzoaaz e 2ununuluteyv (1 : &unssaaozd unep uotlae ssup ut sapnp Xzeunid uanas ate azagl 'aztzeuzunns oZ Iznoa all Xq papzeMe st 'Ate ;t 'luauzajllas uznuzzxew all Imp aznsse of paatsap st ssaaozd zno 'uejd uotsuad znoX ut pjaq Xlsnotnazd JO Xpluauna XItznaas e of sutelzad pus uotlae ssep e ualM •slsazalut s uejd all palozd of s3jse4 /iueul suuo ;zad;snzd, uzajus'zossaaozd uotlae ssup s,ueid aql se uasoga aze am ua1M •zolezlstuturpe uuid all (D zo 'Xauzolle uu (q 'wales (e :2utssaaozd uotlae ssep zo; saaznosaz aazgl ;o auo uo pap' aneq sluatja s,IsnzJ yaps 'AIleatzolsTH 'saptznaas luaullsanut 04 palelaz uotle$pij uotlae ssupa zapjogazegs ;o XItxajduzoa pue lunouze ay ut aseazaut paaunouozd u uaaq set.' azagl 'szeaX luaaaz uj 'anpe - I zeaa sluauraauequa 2urssaaozd uotlae ssup :au 9Zy££ 7d 'gaeag uoluXog OZZ alms ,. pnjg X1Ma4eD 0051 saltns ant}naaxg aauessteuag o/a uotsuad szall$gazzd gaeag uoluXog anpul ezegzug 'sys ZIOZ '9Z zaquzaldas A tr V d W 0 3 T C _ T suozp 'zssvjj Sulssaooz.d aof suoiioaaut fiuvduioj lsnzJ1 maps }uauttpv v zaat330 anpnJaxg !alto pue luaptsazd 'atrium x Xalpezg 1n 'spze$ag •Xepo4 si }I se paaunouozd se uaaq zanau set! 4 ql uopenus e 'spaau 20uetp znoii anzas 04 uolssItu alos zno 4i .noX zo3 zau.4zed saatnzas Iepueut3 pa }sruq e Butaq a ;epazdde aM •2utssaaozd uttep uoipe ssep paauequa zno Tnoge azout urea! 04 za2euew dTgsuopepH ;snmj wales znoi 4insuop 04 oat! pa! aseald •anoge paistl i zossaaozd uopae ssep e 3o sapnp Xzeuzud z alp 2upalduzop zo3 alglsuodsaz aq IIIM aauSIsap znoA JO noX 'uopnlos males alp autpap noX pinotis suoi ;oy ssv j Xutssaoo.id ,iof suoipaclu /iuvdwoD 4sn,t1, ucaivs 'uuo3 patpe44e alp Ino Sum!! kg patlstlduioaoe sT uoi4do zatplg •zapinozd aDTnzas uolloe ssep zatpoue paps pue uopnlos males alp autpap uea noX JO '2utssaaozd uot;ae SSVID zoJ uopnlos uzaleS alp pap imp nod •Xzo}epueuI 4ou Si uopnlos uolpe ssep zno •a2ualletp snp 04 uopnlos;uapt33a -4soa 4soUT pue }sag alp Si DDD al!! }sllepads kqsnpui uanozd e 43IM uotpun[uoo uT 'uiales 'sunep $uussapozd zo3 suopdo alp Ile 30 •pa4eDtlduw0p azout pue azou! auzoaaq set! uope214q uopae ssep 2ulssaaozd pue 2tnzo4luow •DDD 04 pled aa3 4ua2uT4uo3 alp ul azegS orates IIpM JOU 'ueld znoX 11Tm luauta2uezze aa3 zno uT a2uetp ou aq IITM azagj •ueld uolsuad znoX 04 papzeMe uot4esuadutoo Xze4auoux alp 3o %OZ 04 Ienba aa3 e saazetp DDD •31egaq s weld znoX uo s3uauiap ;as are Sulpalloa pue szolez;sluluzpe surtep aTp LI}1M 'uzzo3 unep a;etzdozdde alp 2u?I13 'uoipe ssep 'pea 3o suLta4 alp 2upazdza ;ut 'uope1uautnaop uope2gtl algeplldde alp 2uppallop 'saagou uopoe Suuo4tuouz zo3 weld uotsuad all; o4 algtsuodsaz uTetuaz HIM aM 'DDD 04 sapnp ute}zaD a4u2atap !pm mates aINM a ;ea :loam pezpou ;nV e ;ea :Jou6ig peziaoy ;ny :eweN ueid uoIsued •siapinad aovues Jey ;o Aq peppnoJd aq o; peau saginipe 6usseooJd swiep uoi ;oe ssep liv ;legaq inoA uo wiep e ansind am wM Jou noi( Apiou lou IHnn;snil wales lun000e Jnoi( ui play i( ;unoas e o; AK:1de w!epo uope ssep e wogs `uogdo siy; asooyo noi(II •eopues uoi ;oe ssep apwnoad ION pinoys Auedwoa ;snag we :e uoi ;dO iun000e sued uoisuad ay; of spaeooid tau a usodap IIIM wales •pierce ay; jo %OZ o; lenba eel e 'pierce i(Je1euow NI woi; pnpap UoM 000 Values si weep i ue Jaw . ;jegeq JnoA uo eoinJes uoipe ssep a;aidwoo apinoJd IIinn ;snij wales 'uNdo s!q4 asooyo not A •ueid ino o; °owes uoi ;oe ssep apinoad wogs Auedwoa ;snag wades :v uoi ;dO :seoioyo 6uinnolio; ay ; ;o euo lei ;iu! aseeld }iwJad sainpaooJd s,ueid Jno/( se uoos se sn o} =laJ pue wJO4 sty ; ;o wo ;coq all a ;ep pue u6is wogs ueid JnoA Jo; (s) Jeu6is pazuOqune uy ueid uoisuad inoA jo Negaq uo suoipe ssep 6uisseoojd Jo; i(uedwoo Ism" wales 01 (s)uoipe ip JnoA wJ!Juoo o; 8 Jo y uoi4do asooyo aseaId 'nnoiaq suoi4do oM; ay; p auo 01 pcau slew! Jnoi( 6uioeld As suogod ssei Buisseooad JOJ suogoa.iia l(uedwoo }snag wales wo3•aausnumpu.sagorMMM Z£Z 1 [ 6 (t56) `Cid • ZOZ I - 916 (tc6) ANOHd PZ£££ VUIIO'Id ',voI.ie.LM V td . .1.11110D .Ls [ 1SIMIIiaON 6S 001 am own saaisn.zi .ro3 algeniiewaiun (Ileaaua8 aw s8utpug ssipnis aqi `nnolaq quo3 ms se `ptgs 1m1 m' & •spuaii armtualgoid pagtivaP131as aqi o1 „siledaz Igmionws„ anilon gsuoo Cue le tunl,Cptus aql saop iox •walgoad iemloniis a auuusuoo mom iggM augap 10 utgidxa °iC3tisnf l,usaop i(pnis aq i •.nedai iugogtu8ts armbar imi swaigoid lesniotws aneq io w.rois ietoueug warm aqi aa of amp paau lsnf pug Aglieaq Alleivauiepun3 aie amid uorsuad ledtorunw s‘epuol3 =palm. : siogine s Apnis agi Aq pasod uorisanb Surntoilo3 alp iannsug o1 1 I0Z SOOZ wag ( «SIAIQ„) saolnaaS ivawa2euewjo luawugdaa alp wog suodati plumy sasn ,Cpn1S Z ToZ aqi `punoz8)10eg3o Kenn �Cg AVMS so1IIOD Z I Ot •sigauaq aa4Coldwa oilgnd of ap soq ssal sr iegi `iCpnis swoop aq1 ump anpoadssad weal Ja2uoi pue iapeoiq a apinoid of sr maw snp jo asodmd SuiAiaapUn alp %rgununs ul 1uawuadxa (3i)1 Ov atop amite3 alp se paquosap aneg awns iegnn pug sueid gQ Aq papinold MOOT ivawa ma z pug 4m02s atupaJii papuioazddeiaprm alp sassaappe owaw 2q uo 31eq puooas ags .AIMS Z I OZ aquo MaIAl3A0 UV twit suz2aq maw sitj i •ugid atagi uo Supra! Aug aneq suotsniouoo s, Itpnis Mau atp Moq pug lagiagnn azedwoo of Se OS `,Cagrrioe ltatp tp1M APMS Z 1 OZ alp A paquosap „spuaal„ atp ssnasip of sivatlo a8emooua osie •sueid au Aq paprnoad sa8giuenpp aqi pug iClunoas ivawaallai ssnosip of I103 o so'P1US ZIOZ aqi asn 111h 3A1 •aoioas anlgnd atp ut mid (.93 „) igauaq paulpp jo aiaz iuguodurt alp inoge walla giinn sig2notp mo aims 01 sz owaw srgl jo asodmd atly •epuoH ut meld uoisuad ledtocunw 2urpae8az uodaz 1 IOZ ialptra nap Jo uopenutiuoo g `( « XpniS„ z I oz as a azag) suoid uoisuad Inharunpy s, nppo& :Supply asp ur s roa i Paiipwf laded au4M matt a paseaiaz ainipsui sumo iCo2Ia'I alp `SZ .zagwaidas u0 ZIOZ `g i0goio0 :01ww uoda'l ZIOZ lagwaldas alnlj3sul Suillo0 Autia'l :ag UOSWAa'l 78 UOSU3f uewjne}I lausne[}i :wou strew uo1SUad epuoi3 ILY o L Z •aptnoid Amp Alunoas mammal al ag1 pus suotsuad lgauaq paugap SutpigBat shags los; pus sisualew Jo; S.1o•s1adowmAkm `a2Tsgam SJIIdDAI aql of paJJa ;aJ aJe =paw 1 •paunuo asmoo ;o am O£ Jagwaldas uo papua lsnf imp JsaA isosg atp Jo; sumlat louses ajgeions j •Xpnls ag1 Act passtwstp Ajtsga o01 st sotjopJod luawlsanut ,susjd aql ;o /Commsa= ButApapun alp `aanoaioyi Ala; MI= Vols aql atom u Zoq 2 upu pun„ aq2 1881 augur Aq Z I a88d uo sapnpuoo i pn1$ ail Aq&t Stnizznd ato;uJag1 s! 4 'Lew; wapow u! suopsooistp 1031i13w =An wow aql ;o awos ,Cq pa p ui -iiooq aJam smaiC ual wed aql uagnn `apsoap lsed aql iano 1a BALI VMS aq1 ut tunlunnop aql saziwjuiw Apnpoajja Apn1$ a `sp.ioM laglo uI 'Papunj %00 j AjIeau sum usjd isdptunw jsoidXl all 100Z ut Imp sa8pa1moumm'Cpn1S ail 1aX `„Sutpuels -8uoi aJS susjd uo!suad isd!onmw Amu Sum; swaigoid aql„ `Apnls NI at Bui amy ' 1 00Z gouts MAC Alma Appall paurjoap aA8q SpA9j Suipun; lsgl saounouue 8utpag twig sAmnls a4.L uuopnquluoo uoisuad tenuas ;o uo iodoJd Sup oil s luasatdat sample!' papunjun Jo; sluawAgd (in) `.sduiiu a luawisanu! pus tpMoi8 /CAMS pawnssu awwwtlsaaano o1 pual susjd (A) !slusdpp ed anpos ;o q od; ail „Sutddulslno„ st pus Smnnoi2 st saatpat ;o iaqumu agl (Ai) `lsoo uoisuad aqi ;o aiow do Sunptd at8 sluawuaaAo8 jsooj (m) `.1 IOZ - SOOZ woi3 paseaiout iijjepuelsgns anti suognquluoo uotsuad (tt) !UV MIJSw alp =jag us8aq Imp Suipunj Japan Jaggsi lnq `lapses Moots alp u! uJnlunnop aq1 ACq pasnuo loll aim susjd uo!suad jvdionmw papunpapun hogs suiaouoo (t) :s8utpug 5lt ;o Alumnus 8utnnoijo; alit iltnn sapnpuoo XPn*g uL •umjd pasop u jo pcaluoo aq1 ui ssaj8musaw AiButssaioui sawooaq 'gaged patanoo ;o a8sluaatad a se `suopnquluoo uo!suad jo glnnoi8 aq1 `Janoaxoysj •Apnls Z I OZ aql ut passa.ppe lou st susid pasop pus uado uaa+nlaq uopoupszp au, •sJagwaw anpos Sutuiswat ou pia usid pasop s J0; 21111A 010.1.1t ate suopdumsse tpAtad gaged aJnln; `Aputtwcs •SJagwaw nnau Aus pps we swop `uoptagap Act `uejd pasop y - slusdpogiud anpos of saatpa1 ;o opt ag103 paw imm iCjiSpoptsd `slinsaa s,iCpnls aq1 Majs 2Csw IOW spa •slusdtogJed Mau of pasop iSpua1Jno an spuoi3 ill meld isdpomnw aril ;o L9 mat w my luawamali ;o uots!A!Q m1111104 puslssapun am •pouad awp Stip &tunp pasop aJaM sueid ;o iaqumu lueot,J uBisui tou s mg uorluaw of sirs; Apn1$ Z I OZ aql `0I OZ of j OOZ wog slap mid Suusdwoo u! `1CjBuilsataluj •pagtluapt 1ou st susid Z61 3o a$JaAnm alit w0J; papnpxa saac jo Jaqumu aqj •s1aijino aq o1 pawaap ats gotgk► suorlsumA Sutpnpxa `os op of sanisn ustpaw sash ti . amid uotsuad « isotdA4„ aql uo 1Jodat o1 sldwaus alnlpsuj sutjjoo Xogal alp `salou XJOlonpoJlui s,Apn1$ aql of Sutpi000y I •saAggwalis Jouajui Jiagl of pamdwoo sueid gQ ;o sa22IUBAps alp Jo `aowas oijgnd ;o awpa ;ji s 8uunp suoisuad ea Juag1 pauJma ognn susipuoi3 jo spussnogl ;o sparpunq aq1 ;o apses s j uoquaw ou `1aA „luau spua alum 018utjSS1Jls sumo &Cusw Jo; ,CJnfat 02 tinsut 8ucppm„ ate WOO amid lsgl aoualuas 8utpnpuoo aq1 st `spual% s aq1 ;o anpsa88ns ICijequalod pus 'Jana/nog `aigsxp wat wow - *map lsed alp JaAO aouauadxa luawlsanut Jood ajquluapun alp pus Butpun; amid al gltnn JBtpws; •sialaonn paatq AInnau ao3 softiopd lgauaq aaMol pus suopnquluoo aaAoldwa paseaioui 3o puau In3Sutttmaw s s1saSSns Apea1113 aouap!na islopoaum `aanamaq `amp awes alp ly t •sopsa papunj nap Suppo1dw! ate Al2utpt000u Pus `Tvii ` pi pue )Soo 113uuou harp tpoq pun3 Allenuus spuou ut susld IsdptunIN •sapsoap onni lxau aq3 ,tano autloap Allsnupuoo of paioafoid si otnu paPun3 gad alp `Aititggtl ps!viv papunjun slig Sutmoa atp punj of suopnquluoo Supisw iou Ag '( „) waisAS mawan;a2I npuot3 alp ow! isoo isuuou atp paingpluoo AluO mg 3m113istia' 13puoi3 atp `smo C 11112A3S iced 2111 .103 istp anrunuojun s! ii e 3Pd'9Z9OZ i3auganssysoomosai /axo•elseu•mmmnt z suopnqu1uoo ia/Coldwa Sutsgaloui •10lsanut isnpintpu! atp tptM Ataipua sail xsu 1u211t1s2nu1 sm `amilm313 aq of Amu Aq paaaptsuoo st iu3tuuadxa 0010 012 Aqm sal M3 stgi, r .iosuods amid atp tptm sisal xsu luaut;sanut uagM mid EKE a ut suadddq unim st `u2tsap Aq `suornatigo Sutpunj io Coldwa Sutseatout istg pueisiapttn saaistu i, •aouauadxa Isuenios pus luau/1S3AUt StqAIaapun atp 30 4!I to `Jo /tantog 'amid= m aq 1ou mom sttl i, •8tttMoa8 an? saplpedptunw 103 slsoo alp lap waouoo sassaadxa Aptug atp „`aigms Auns3 am suopnquluoo alms pug *aAoldwa apgM„ « •sugid Alajes otignd io3 Alletoads3 'woo uotsuad atp jo atom do Supped a1m sluaunuano8 pooh„ =OA ;MAN lsud aril .13A0 113111 sanaasgo ApniS atp 4 s2utpug pttp pus puooas su 103 sd £ 's21221eals luawlsantn w.tai 2uoi natp 1 11!M lops of paiaModwa am sunld au `„sAtrp loq Sutpun3„ SUM wo13 siosuods umld Sutivan aid Mfg •stseq Isnuug us uo suopnquluoo pautuualap Appal= Jo 1uawAmd algpusw gotgnn sluawamtbai Aiolnluis spuoid 30 wopsIM alp saWalsttlit °13113 spa t . u211at JO 21V1 ivawls3nu1 paumsse dtatp uuopadino Apu3lstsuoo sumld au u u a l Suo1 alp . t a r o A q M s u o s g a I atp 30 auo st stq i, •su n l u M o p 1 0 3 1 1 1 1 U 1 Suunp sotjojuod aptp 8utouslsgaa pum Supsanut Xlisin8al aim sugld gQ linsom s sd •saugpnpg Aq uaasiano Slagsusw Amour luuotssajoad Aq apew am weld gQ ut suotspap 111atuisanw 1sm,quoo Ail •punogal wauno aril o1 aoud `moot 191.113111 Sutmp sapmb2 plos pus AIieuopowa palosat sIO1S3AU1 Ignptntput Aumw 001 `Ao!iod 1u21.111s2nut 111134-3U01 m tlltnn aoumpt0000 ut Supov 1ou Ag •pal13wtoap a12nn saouuieq 01)10' PU DU harp se 1112w344a1 auodlsod 01 pm' aim suuld ( „Da „) uopnquluoo Rupp u! slolsanut lsnptntpu! Anna `pound sup SuunQ •s3sso1 W0.13 aunwun Km 2.13M sotlopuod pagtstantp 113M uana `3ouanbasuoo E sV '600Z `I E iagwaoaQ 0 2000Z `i A.1131111131 ww3 %0i ISSN da'S aqi `spU3p!ntp gutpmoui 'Si i i 1 pasop xaput alp se %PZ 2 ansq mom Amp spec' aoud amd 8 uo `69101 @ 66613 Asp Isml atp uo OOS days atp n(ilnog aoisantn ! nptntput ArnI1m um pmIi •tunlai idol a tmilau 13 tpuAt papua ainipsui su1103 atp Aq Pa!P3 3 PeoaP M `OOS days alp Aq pamsmaw se `paapui •sapBoap uanas ut uotssaoal mom. atp `uotssaoag warp aqi 30 Arsingsoon nnau atp pm `old 'MAI 2tppat3 pue aoyAl 2tuue3 3o 13n021111 IUOtuuWan02 alp `Aoldnnlusq uswtia7 aqi `ssaw awudgns atp `aiggnq Sutsnoq 3111 `sisnM 0 `Ap9 ap 11/6 341 `wooppoM `uomg `3jggnq woo'1op Pus goal alp 3o Supsmq atp `sapmba ut smarm Iraq oml 3 saapBat putwaa am '0IOZ 02 100Z 11204 sows 9utpun3 saredwoo Apn1S alts3o Z aSsd uo 1221813 17 3primalZtol sauas gareasar slaaotf I I OZ/solTggro•sraaou•^n^nnn '9 ailed m (I lot AllItUler ` s 1a IDAl) sunld uorsuad ,ttfauag paurfaJ 8ururvmumyy fo sa2npunapy or dot aru 9 81 Hall% '1ZI= Plea!^ =�i 00=110930 L aria •xapuyaxo•autluosmrnnMnn •(8002 'i(lunoas mammal! uo auupsul i13uop13N `uo38uigse,) „yang atp .rof Bung ,ranag `snuo i • a umppm Pus eppuriy Tag 5 8utsoio Alp an8se plum att„ 9 uisa1aoun are weld DQ s o3 8uigolinns 3o s8mnvs woo uual -Suol Cuy •uual'Jogs alp raAO amour 3soo 01 ' A10111 st welds 8utsop 1f 1 mums annq saipn3s lcpuluoy •saarpar ATM sluedtopr9d Jo 1uatuaosidar aq1 a313raiaoo1301 aq mom *mar 19u aril 'mid Da win swirl ea =Oar o3 Sup pas aq 1(stu siolroddns s3T jo auras 10 alnipsul smpoD alp lerp wawa ml ol'AR13oruori •suotsuad gQ 1iag3 11101J 311103UT amass 9AAq saan331 asap JO AMU `iCllnpiusg3 'ui138y 'SAM( 1110001 ui paluamaldur! uaaq 9,11311 is sods' pus `sazaar3 Bum `Bu!z!sumop aq1 st pauopuaunm'garpua j '1 • „snoiaua8 ssai awtooaq o3 8uto8 a10M saiRuaoui WOU19.1901113111 suraouoo pu13 SIMS onider2oulap Bu!pnlou1 'slolo13J lsranas„ 01 saalpa1 Jo laqumu alp ut assa1out mu s93nquus iCpnis alp `S abed up •sraquraur 3A9313 mall ou ansq pus pasop are Aping alp ut susid ag13o %£ I Xm13umcoidde mtp 1013J aq1 10J 35nfp13 Iow swop 2! se panneg iCilepualod si stsXisus s,Apnig alp `i(iimuo uppy •slgauaq uoisuad s uqulstp mid uoisuad s uagnn paulaouoo Aluessaoau 10 pasudrns aq mu pings au° •ino uragl And of 3nq'Xm3adrad 1oj do tuagl aims 01 sou st slam uotsuad But Inumooe 1o; asodmd agl `lie ragy •usld Kt awns alp jo uopsmism aql sIoagai Alarm sigl se `patuaouoo Sou Afsraua8 are saaisr l pus salami; '2 A '0I OZ ui suopn papaaoxa ansq Astu slnoiCsd 31314 mg agl A palgnoll sT Apnis arp'troigse3 *plump ul 'siusdtogred anpos Jo q to18 aril „Smddpislno„ st pus 8u!mor8 s! =mat Jo 1aqumu alp Isg3 slanoostp 8uipug gimoj s,Apnis au s •suvld DQ u13 anlsuadxa ssal am weld gQ `sigau9q luatua1pai jo lanai uant8 AIM 103 •sulnlat maullsanu! uual $uoi rauaq twig() pus ApA90412 3POO 310111 MAUI 01 Ng am 'Asp ,CiinaBuoi pus 3a )pgur 8uiiood g8norg3'su13id gQ 'merluoo Ag •a2s Amp se sump” paloadxa'imp raMol &gara pus ) Isu 1avetu 02 amsodxa nag3 aonpar 01 paimbar Alpuaua8 am slusdtopred mid pQ `meld gQ a iuf 1 •susid gQ Iedioiunm 13puol3 raj tCmlluoo alp 01 ;ooid sapinord Memos sis4Clsus s sCpniS mg inq „`sloo2s 1anlsu of BupJTgs Aq , sassoI, 19,1009103 vas Rim slo3sanut uoisuad 3sg3 =MOO plat! Aiapinn„ 3nq pa3nquunun us saquosap Xpnms ags •8u ui 23)1em 10 =mar „Suissgo„ Sou 0.12A1 pus 3uamuOJTnua mama 8ui2uatli p spu 8uunp „ ASaW.Rs uopsooRs 1rise 3u33sTsuoo e„ pauislutsm susld gQ isdtoiunut gppou prip sapaouoo Alusssaoau r(pn3S Z I OZ 3141 `s103s2nuT isnpiniput a mun •saTSalsrls wampum! wool -Suoi 81nloidma Aq palsanui a,1sq susid aQ IsdpTunm spuo1314314M Xq /(oua3s!swoo a143 samellsnili AprilS alp `saalstul Al; asudms oN •stgnjdmoo /iillmutaas GR./lump'(phis alp g3Tgm'nags `8uipun3 mid gQ 3103531 illsnpw 013jnsal Ammssaoau pus a3Budoidds alp sT aouauadxa asranp138u!Ato11o3 S nolumaawo- allLQgd•xapuf /woo•uotsUa ppm / / :am •600zjo aipp w NI aauIs ;uawad o'l Moiaq pus `mai( oml uep aiow ioj %S• I MOfaq uaaq ansq sags% ioloos otignd i q sa;eotpuc Bn3p !mop= pia0911 L ltwps ,Civado am gocgM `aitpoedSIad .mo st sigj •s;usdiopasd 3o Auoffw wen acs Jo3 s3gauaq mama-pat awnbapmcn ut ;insaa ium mid DQ s uo,Ciajos gu!Aial unp Auew 02 memo diguisealou! awoaaq mg 2! `soot Jo uoc;sooistp MAIM 212A2s 2q) 201118 'usid gQ s Imp ;uawaipai amoas s qmitst saaAoiduta apiAoid pus `u uat `3owu o; fool mpg ou ST WW1 `uosuWAa1 pus u2s112r `usw3nsx `Jausnsf)jO uonndo alp uI :Jaupeps!Q :weld gajo amigo uI •ampni3s 3uawaipat wow= pus punos Afis3uaw3pun3 B aupuapun 03 potwn3 3a)jJew uo Sumas pimp!% `spuail pus BWp uua; Jaguoi aututexa ,CfaAlloafgo o; a3n3usui sumoo alp aliAul am `;utod i &j s Supply's' •(pagpuBnb Sou osis am gopim 'mum no Sulnowai 01o3aq) OIOZ ut paz,CisuB SUM aSJantun 21130 you ;sag 1n `spodai fsnuus s,3uawaJtlaujo uotsIAIQ atp uo saifaJ ,Cfamsnioxa iCpn38 aglJ! `aiojaiagi, •susid Z6ti3o aSJaniun fits aq3 loll `susid 44£ mow m103 ap:pipan ,Cftto aJaM 0I0Z Sutpua JsaA mud alp Jo3 suoi3snien ;sq3 asojoszp loll saop `s3Jodau lenuud s,;uawa1i3a)l 3o uots!A!Q alp uo sane. gotgM `Apn3S alp `afdtuexa Jog •opspsls goBa ,Cq pamssaw an susid Amu! Moq pasofosip APmS alp j! 3fnsa1 pinch 1Couatsdsus q Ja3saJg `,CigmPJ0301/ •suopenfen jnusn;os pmuus luugns susid fi8;ou `JanoaloN • s!seq JBa,C JBpuaiso B uo stm39J 3uaw3sanui pus suocldumsse ;uauusanm alp 2BaJ3 of s odds L an ti% zap= fenseo B 03 `sa3ou ,(JO ;onpo13tn aq1 gucpumsg2 M orl •s!seq =A isosg v uo pauodai iflsiauag slump uefd lap azn1Bo0a1 ,Cpiotldxa 01 RR; APu4S ail - Kurt an 3tscna1 o; s.o s,ApniS aq3 ol!Aut aM '500Z J0 tOOZ u[ suopdwnsse luaw3S2AU1 Jiagl paw loll ptp susid ;Bql „paloadxaun„ sem 2! `Aprils agl,Cq paquosap sd •20u2u2dxa plum= qic% aan; Jano 3oaJJ03 Sias pino wok sseooid ocwsu,Cp s sc suogdumsse 21ml32s agl ` ,Cig11tpp000d 11o9dwnsse 3uaw3S3AUC aq3 SuuuAotJo psdun am 031as33o us se uopdumsse Amps aq3 ut suouonpaJ guipuawwooaI am sausn3os awos los3 ui L •sutsg isuetuos am3n3 03 a3nqu;uo0 !Um goniM `Z I0Z 0 31I! panuuuoo iClisIauag surf tamogl aSeM3o uol3VJafaoap aq3 Imp pus3saapun am, •gOOZ ut 211!JB3s s33p 6JSiss u! puaii asiana1 paounouoid aiow 2q3 0l pied st uoI3ual;e ssal •LOOZ-1700Z guunp g3MOJg CJs 3o „uol33wpsaaaptm lua3stsuoo„ aq3 sassa13s,CptuS alp L aged up •sis,Clguu s,Apn;s alp uopsenb lggpu 2110 `003 atayl •sgunuea 3uaw3sanui pus g3M0J8 ,CXBfss paumsse gugswusaaano suefd 3nogs tuaouoo ssa dxe sgutpug mu s,,Cptus aqi, •11o!siOap aigsuaJga' a aq o3 3110 suJn3 uag0 snit `lggtspunf 111 •u0poauo0 JOfsw B Ja}le 3a)fJew alp 3o ;no Sumas 02 snogopme st aouauadxa feum= maws mug usfd gQ s gupsatuua3 Jo 9 lute!! jo pipes 2u uuagxai-a1d nap jo uotuod a[quis 8 mum= of sampat sMoiis sued gQ B `snu j •sapepnpg i(q uaasaano pue palsanut `awo3ut 2uatuaipai Appuow Aqua II?^n Amp lap aipaz 04 uotst3ap ag33o aouenpe ut MOM! ` 3SeMo fCq `saaigai gQ •sassep ass ianisu 02 amsodxa natp aonpat /gimped puB awt313A0 spbatuptptM natp la8pnq Isnw aatpat uigd QQ y •aornuas wog samedas aa1gat B Jag$ sanwluoo Aims ma •aa2sumu ICauow ittuotssajoid jo a[0.1 aql ut anus of s3usdptusd aaioj Amp Ietp st maid QQ jo a2BluBnpuStp 131pow •luautan3at IMO iatp.to; Atitgrsuodsai mg iapjnogs 01 suuld DQ Aq palsy ats oqm `slolsanut Ignpinipui Aq vow ant 3ut3 sa3183stw uounuo0 atp utvjdxa of sisuo!ssaJoid luawlsanut alp 1oj alum aM •saaAoidwa uua3 -Suoi 10j AIist3adsa `suogdo iouadns nu are su8id gQ M0q pulls tapun 03 prig mu s! 3t `saa4toidwa uo )Isu 3uaugsanut atp jo Its amid stmid DQ imp pig atp g3tM paidnoo Si slasse DQ jo „321331130I„ uati& •sasuadxa p011312111121119412.141011 ia ;o pus `dttisiaunto awoq `2uawanatdwt awoq `sasuadxa Isaipaw `uogeonpa alai oo ioj Aed 03 suBid nagl wog Attumht =mpg Lsti so 3Q natp 02 ssa33B pa31twaad am 04M saa)Coidwa `uago 0031Ie Imp SutzmZoom AISlnsgatout am siamasgo snouaS •saaAoidwa ioloas 3tignd ioj Apuinogiid `slgauaq gQ 01 3uawaidwoo 8 aptnoad lsaq le susid DQ •IouuVO Amu, •sutgd gQ aosidat 01 pau2tsap .10 MOOR aanau a]aM mid 0010V IBg2 8u1Bp2IMOU,im age sonuapsos pug sjBuotssajo.Id luawa1ga1 `,C1$utseaioui •sami am3nJ of papBoj jjo st )Isu ivaugsanu! `pasoto St usid g(1 s uatuk lisp luaugsanut s1 mid DQ pus gQ B uaaMlaq sa3uaiajjtp iofsw mg Jo alto `d(uap 30uuB3 mid ea 3o sotluo sy •susid uotsuad lgauaq pampP jo a3usuodun atp spuglsiaptm ssai2uo3 2B 3 sawmill! IZ-dYNN `Jatpell •susid otignd .toj uotpBogddB I3anp dCus leg It asnnoaq Iou `suvid gQ .I033a5 alwnud io33aga1 SutpunJ saptnold g3tgM `uotlBisIBai 31.11 ltotluaw am •iitq uogouodsuan ABMgStq sngtuwo maiC -oral B ut papniout Senn („ I Z „) 23V Annuao .1 Z aril UT ssat801d 303 peagd Sutnoyni NI '8V£1' ll'H MB! 01111 pau8ts BWBgp 3uaptsaad pug paldopB ssatBuo3 `iawums sip imp iCquoMaIOU st 2! 'am Alan uo aaaSB 1.1133 uol2utgsBM uagm luauwoatnua IBOtltiod 13 ui •saa,Coidtua 3ggnd .to; susid &i jo aioi [8313113 aq1 azp inuns !pm uo!ssnostp SwMOiioj arid, •(slun000u QQ igluautaiddns Sutpnput) s8utnss isuosiad pub `mid gQ paiosuods .taAoidwa 118 `Ammon moos jo gook pa88ai aaip s uo pasgq aq pings awo0ut mammal piaOM 1apad 8 ut mg iCgdosoinid ,S a d3N arms aM `( swalsAS mammal; aaao[dwg oggnd uo a3uata uo3 !mogul.' alp 1oj iasuno3 sy L Btr= Pga Prai�i 1ualuoo woo= uopaoLagd •xapuwaxo•autiuosxtu•mAiva/ /:dfq •6002 ut sumid uotsuad Rooi pug algls wog sluauaq uotsuad ui uotiitq Z•L$3o lox g pantaoax upuoidjo swam= S90`09£ `AltmoaS wawaxpag uo alnlpsui iguopgri all Act MCP ZIOZ sortaouorsuad alp 01 &gpx000d : • autiuosxni %xo : oxff �csxa 3u'woo•xaasnupipuagortmva :samosa' 8u!nnoiio3 all *pit 8uo e `altsgonn mo ltsin o1 nod( sa)!nal pug suopsanb sawooiam uosuinal pug uasua f magnum iausnum • pool xtagl ut utgwax saaipax 3! satwouooa ig•oi .103 sluauaq oiwouoaa • `.AIanod ut 8utnit Saalpal Jo poogga ssai glum Sutnti Jo pxgpugls xag8tq • `.sluawua1inua wpm mnoii p ut uana =pal o1 itltiiqu a$1 Minn saaXoidwa 8utpinoxd uotssaoons luawaxpax Apapxo algltitog3 o14titqu atg pug 4iiigpcap tsaakoidwa i(iajus otignd 103 isopuo axe gonin■ `sivauaq xontA.ms pug Atiiggsip `.slsoo luauiltnxoax pug 8ututwxl aai(oldwa `xanouml aaXColdwa pampa' . `.suuld DU usgl MOO antlnxlstutuipe pug saaJ luawa8guew 1uawlsanut xannoi pia luatotja aiow • `.uozuoq awp 8uoi g xano suxnlax aztuuxgw of siuminsuoo pus slam= Am= iguotssa3oxd Aq uopgoutsxantp ollo3yiod isuotssaJoxd pug paougigq 'suuld DQ of panidwoo suxnlai luawlsanut xouadus . `�isix luaupsanut pug iitna8uoi 3o Suiiood • !antjlno louuso saaxpai pug awoout luawaxpax moos `algx;otpaxd . :apniout susid gQ 3o sluauaq aql `iCmwums ui Barbara Ladue From: STW Reports [Reports©STW.COM] Sent: Monday, October 15, 2012 7:29 PM To: 'Ladueb @bbpdpension.com' Cc: Andrew Chorlton; 'davew @bogdahngroup.com' Subject: City of Boynton Beach Municipal Firefighters' Pension Trust Fund Compliance Confirmation - 3rd Quarter 2012 Attachments: Guideline Exceptions Report 3Q 2012.xls Dear Barbara, I hereby confirm that STW Fixed Income Management has been in compliance with the security restrictions of Section IV of the Statement of Investment Principles for the quarter ended September 30, 2012 subject to the attached Exceptions Report. We would be pleased to provide you with any additional information you may find useful. Best regards, Erin Erin K. Chrislock Principal, Chief Compliance Officer and General Counsel STW Fixed interest Management 6185 Carpinteria Avenue Carpinteria, CA 93013 Tel: (805) 745 -2400 / Fax: (805) 745 -2401 e- mail:erin @stw.com IRS Circular 230 Disclaimer To ensure compliance with IRS Circular 230, any tax advice provided in this communication (including any attachments) is not intended or written to be used, and it cannot be used by the recipient or any other taxpayer (i) for the purpose of avoiding tax penalties that may be imposed on the recipient or any other taxpayer, or (11) in promoting, marketing or recommending to another party a partnership or other entity, investment plan, arrangement or other transaction addressed herein This electronic mail message and any attachments transmitted with it contain confidential information intended only for the named addressee If you are not the intended recipient or the person responsible for delivering this e-mail to the intended recipient, you are hereby notified that any use, distribution, copying or disclosure of this communication is strictly prohibited If you have received this e-mail in error, please immediately notify the sender by reply e-mail, and delete all copies of this communication from your computer and network Thank you 1 2 2 ~ ~ / \ / 2 0 0 7 k k E ■ k V 0 2 a) 0 w = / - 042 § \ C. 2 & & eu T. b = a _ \ ; Ts ° q / \ g4 \ 0 0 / k / / k _ 2 = ƒ - A e / k / 0) , 2 $ in o 3 / m az 0 g 3 / / / O % q / / / F ? / \ { \ \ / § 0 % _ © . g o .. o y 2 g o ) { 0 / 7 / \ \ k r..: \ §' c § $ u _ § m (Ni . £ 3 » u v m c 2 3 » / _ - 2 o« k •§ - E > m .§ \ k @ / a U a a . 2 ƒ± / 2 3 2 2 \{ t° ''''=. 4 0: - "E-.:-.., o ( 4o m 0 0 0 \ b % $ 7 ( z I - at k \ % 0 a §_= U> a Q a Q U a§ 0 a= U CITY OF BOYNTON BEACH MUNICIPAL FIREFIGHTERS PENSION TRUST FUND SUMMARY PLAN DESCRIPTION Prepared December, 2008 2 GENERAL INFORMATION ABOUT YOUR PLAN There is certain general information you may need to know about the Plan. This general information is summarized below. Name of Plan City of Boynton Beach Municipal Firefighters Pension Trust Fund Employer City of Boynton Beach Plan Administrator Board of Trustees of the City of Boynton Beach Municipal Firefighters Pension Trust Fund 1500 Gateway Blvd #220 Boynton Beach, Florida 33426 Telephone: (561) 739 -7972 Trustee Plan Administrator Designated Agent for Service of Legal Process Chainnan of the Board of Trustees Type of Administration The Board of Trustees, as the Plan Administrator, is responsible for the overall administration of the Plan. The Board of Tmstees consists of five Trustees. Two of the Trustees are active firefighters who are elected by active members of the Plan; two of the Trustees are appointed by the City Council and must be legal residents of the City; and a fifth member is appointed by the other four. The Plan Administrator has discretionary authority to construe the terms of the Plan and make determinations on questions which may affect your eligibility for benefits. The Plan Administrator may also retain the services of attorneys, accountants, actuaries, investment advisors and other professionals. The Trustees serve a two year term and are eligible for re- election or re- appointment. The Trustees receive no compensation for their service, and they only receive reimbursement for travel for educational 4 Investment Manaeer[s) The investment manager is responsible for selecting the securities to be bought and sold by the Pension Fund, in accordance with guidelines established by the Plan Administrator. The investment managers are: Alliance Bernstein West Palm Beach, Florida STW Fixed Income Management Carpinteria, California Acadian Asset Management Boston, Massachusetts DSM Capital Partners, LLC Mount Kisco, New York Rigel Capital, LLC Seattle, Washington Member You are a Member of the Plan if you fulfill the prescribed eligibility requirements (see Eligibility and Credited Service section). Beneficiary Your Beneficiary is each person designated by you to the Plan Administrator to receive any payments that may become payable by the Plan upon your death. You should designate a Beneficiary when you become a Member of the Plan. Prior to retirement, you may change your designation at any time upon written notification to the Plan Administrator. 6 ELIGIBILITY AND CREDITED SERVICE Eligibility You are eligible to be a Member of the Plan if you are a firefighter of the Employer. Your employment must be full-time, as determined by the Employer. You become a Member of the Plan on the day you become a full -time firefighter. Credited Service Credited Service is used to compute the amount of pension benefit when you retire, to determine whether you are eligible for certain benefits and to determine whether you are vested. Your Credited Service is equal to your total length of service with the Employer omitting periods when you were not employed by the Employer. Vacations and other paid leaves of absence are included. Unpaid leaves of absence are not included. Also not included in Credited Service is any period during which you could have but did not contribute to the Plan or for service for which you have withdrawn your own contributions. Break in Service If you terminate employment , receive a refund of contributions, and later return to work for the Employer, you will lose credit for previous service unless you repay the contributions you withdrew from the fund, with interest. Military Service Should you be called to active duty of employment in order to enter the military, your period of leave (not to exceed five years) will be included in your Credited Service if you return to work for the Employer within one year after your discharge. You would be required to make a contribution to the Plan in an amount that you would have contributed had you not taken the leave of absence. 8 RETIREMENT DATES Normal Retirement Date The Normal Retirement Date is the earliest date when unreduced retirement benefits may be paid to you. Your Normal Retirement Date is the first day of the month coincident with or next following the earlier of completion of 20 years of Credited Service regardless of age or age 55 with completion of ten years of Credited Service. Early Retirement Date Your Early Retirement Date is the first day of any month coincident with or next following the date when you reach age 50 and complete ten years of Credited Service. You may then retire at any time with reduced benefits as described later. Transfer of Accumulated Leave If you are eligible to receive accumulated sick, vacation or any other leave upon your retirement (early, normal, or entry into the DROP), you may elect, by the December 31 prior to your retirement, to have the leave transferred to this Plan and then distributed in one of the following manners: 1. receive in a lump sum payment an amount equal to the amount of the leave transferred to the Plan; 2. transfer the entire amount directly to any other eligible retirement plan; 3. use the transferred leave to purchase additional service credit in this Plan; or 4. transfer the entire amount into your DROP account. If you fail to make an election as to the method of distribution, you will be deemed to have elected option #1. If you elect not to transfer your leave to this Plan (or fail to make such election by the December 31 prior to the year of your retirement), such leave will be paid directly to you in one lump sum payment when you terminate. If you elect to enter the DROP, you will be required to preserve a balance of 120 hours of both sick and vacation pay at the time of your entry into the DROP and all remaining sick and vacation pay must be transferred into the DROP account. 10 Retirement Benefit, except you use your present Average Monthly Salary and Credited Service in the calculation. The Accrued Benefit is a monthly amount which starts on your Normal Retirement Date. Early Retirement Benefit If you decide to retire early, you may receive an immediate Early Retirement Benefit payable for the rest of your life. The benefit is equal to your Accrued Benefit but reduced for the number of months by which the starting date of the benefit precedes the date when you would have reached normal retirement had you continued in full -time employment. The benefit is reduced to take into account the younger age and earlier commencement of benefit payments. The following table shows how much your benefit will be reduced if payments begin before your Normal Retirement Date: Number of Percentage Years Early Reduction 1 3% 2 6 3 9 4 12 5 15 Deferred Retirement Option Plan (DROP) If you have reached your Normal Retirement Date but have less than 30 years of Credited Service, you are eligible to enter the DROP Plan. The maximum period of participation is five years. Election into the DROP Plan is voluntary, but it is irrevocable once DROP payments begin. If you enter the DROP Plan, your contributions will stop, you will cease to accrue a benefit in the Plan, you will no longer be eligible for disability or preretirement death benefits, and you will never have the right to be a contributing member of the Plan again. Your Credited Service and Average Monthly Salary as of the first date of participation in the DROP Plan will be used to calculate your retirement benefit. Upon entering the DROP, a member's service pension is calculated by the Plan's actuary as if the member had actually retired and separated from service on the date of entry into the DROP. The member, however, keeps working for the City for up to five years. The pension payments which the member would 12 Should you pass away during your participation in the DROP Plan, your Beneficiary will receive a single lump sum payment of the balance in the DROP account. DROP payments to your Beneficiary will be in addition to any survivor benefits payable by the Plan. 13 Check If certain conditions are met and you are a retiree (normal, early, disability or DROP) or a beneficiary of a retiree, you will receive a thirteenth check in December. Cost of living allowance (COLA) Each retiree, beneficiary and disability retiree who retires or enters the DROP on or after December 1, 2006 will receive an automatic 2.0% increase in retirement benefits beginning five years after retirement. 14 SURVIVOR BENEFITS Before Retirement If you pass away before you are vested, your Beneficiary will receive a refund of your accumulated contributions. If you pass away after you are vested, your spouse will receive 2.5% of your Average Monthly Salary multiplied by the amount of your continuous service as of the date of your death. Payment will continue until your spouse's death or remarriage. After Retirement If you were receiving a form of retirement payment which provided for a survivor's benefit to be paid after your death, your Beneficiary will receive payments following your death. A later page describes the various forms of retirement payments. 16 FORMS OF BENEFIT PAYMENTS Normal Form of Benefit Payment Unless you elect otherwise before retirement, your pension is payable as a Ten Year Certain and Life Annuity. This is a series of monthly payments for your life. If you should pass away before benefits have been paid for ten years, your Beneficiary will receive the same monthly amount for the balance of the ten years. Election of Optional Forms of Benefit Payments You have the right at any time before your actual retirement date to elect not to have your retirement benefit paid in the Normal Form. Your benefit would then be paid in the form which you choose. You may choose among the options described below and revoke any such elections and make a new election at any time before your actual retirement. You must make such an election by written request to the Plan Administrator. Such an election shall be subject to the approval of the Plan Administrator. This election also applies to disability retirees and to terminated members who are eligible for payment of deferred Vested Retirement Benefits. The options available are as follows: 1. Option 1- Joint and Last Survivor Annuity You may elect to receive a decreased monthly retirement benefit during your Lifetime and have such decreased retirement benefit (or a designated fraction thereof) continued after the death of either you or your Beneficiary during the remaining lifetime of you or your Beneficiary. 2. Option 2 - Single Life Annuity You may elect to receive an increased monthly retirement benefit with payments for your life, ceasing upon your death. 3. Option 3 - Survivor Annuitv You may elect to receive a decreased monthly retirement benefit during your lifetime and have such decreased retirement benefit (or a designated fraction thereof) continued after your death to your Beneficiary during the remaining lifetime of your Beneficiary. 18 AMENDMENT OR TERMINATION OF THE PLAN The Plan may be amended or terminated at any time by the Employer. If the Plan were terminated, you would immediately become fully vested in the benefit you had earned so far. All of the assets of the Plan would be allocated to the Members according to certain classes of priority. Only after all accrued benefits have been paid and any other liabilities have been satisfied could any remaining money be returned to the Employer. 20 YOUR RESPONSIBILITIES 1. Retain this Summary Plan Description with your other important papers for later reference or for replacement by updated versions and supplemental notices, if any. 2. Upon completing eligibility requirements, sign a Membership Form, including a Beneficiary designation. 3. Keep your Beneficiary designation form updated to express your wishes. 4. If you terminate employment, check to see if you are entitled to a Vested Retirement Benefit and the date payable. 5. If you should terminate employment with rights to a deferred Vested Retirement Benefit, then, shortly before the date on which it is to begin, you should contact and notify the Employer to begin such payments. 6. Upon your retirement under Early or Normal Retirement, complete the form necessary to indicate which Optional Form of Benefit you desire. 22 PERTINENT ACTUARIAL INFORMATION — _ October 1, 2007 October 1, 2006 Number of Members of the Plan Active Employees 119 118 Those Receiving or Due to Receive Benefits 76 75 Annual Payroll of Active Members $ 8,806,744 $ 8,152,400 Annual Rate of Benefits in Pay Status 3,339,814 3,219,616 Actuarial Accrued Liability 59,480,217 55,565,182 ' Net Assets Available for Benefits (Actuarial Value) 40,504,910 36,863,141 Unfunded Actuarial Accrued Liability 18,975,307 18,702,041 Required Contribution to be Made to the Plan Over and Above Contributions by Members of the Plan 2,845,292 2,664,373 Required Contribution as % of Payroll of Active Members 32.31% 32.68% Required Contribution to be Paid During Year Ending 9/30/08 9/30/07 STW FIXED INCDME MANAGEMENT Ms. Barbara LaDue Invoice Number: 10123310 Pension Administrator Invoice Date: 10/17/12 City of Boynton Beach Municipal Firefighters' Pension Trust Renaissance Executive Suites 1500 Gateway Boulevard, Suite #220 Boynton Beach, FL 33426 For Account: City of Boynton Beach Municipal Firefighters' Pension Trust Fund Original Invoice Please Pay Period Under Management 10/01/12 to 12/31/12 Assets Under Management: 8,078,491 Quarterly Fee Due: $ 7,573.59 Fee Schedule 0 to 30,000,000 0.375% 30,000,001 to 100,000,000 0.250% 100,000,001 to 500,000,000 0.125% 500,000,001 to 1,000,000,000 0.100% 1,000,000,001 and above 0.080% 00 Fee Breakdown Account Assets J Fee City of Boynton Beach Municipal Firefighters' Pension Trust Fund 8,078,491 7,573.59 City of Boynton Beach Municipal Firefighters' Pension Trust Fund - TIPS 2,214,220' 10,292,710 7,573.59 Wire Instructions: Wells Fargo Bank, N.A. Ventura, CA ABA Routing Number: 121000248 Account Number: 4945349280 Account Name: STW Fixed Income Management LLC 6185 Carpinteria Avenue • Carpinteria, California 93013 PH. (805) 745 -2400 • FAX• (805) 745 -2401 stw @stw com • www.stw.com i . BOGDAHN Invoice GRO Date Invoice # 9/21/2012 8009 4901 Vineland Rd Suite 600 Orlando, FL 32811 Bill To Boyton Beach Firefighters' Pension Plan Attn Barbara La Due Description Amount Performance Evaluation and Consulting Services 8,375.00 7/1/2012-9/30/2012 Balance Due $8,375.00 Tegrit Administrators i TEGRIT /oTe 3 Group Phone (330) GROUP Phone (330) 644 2044 Fax (330) 644 -2705 13680 Cleveland Avenue, NW Actuarial Consulting ( Retirement Plan Services Technologies Date Invoiced Invoice # Due Date 10/15/2012 3046 10/31/2012 BILL TO: Ms Barbara LaDue f r RE1NIITTANCE INFO T " ` "'' I Boynton Beach Municipal Firefighters Check Made Payable To: ACH Payment To: Renaissance Exectutive Suites 1500 Gateway Blvd., Suite # 220 Tegrit Administrators Westfield Bank Boynton Beach, FL 33426 ABA# 041272279 Account #. 1513135 FEE TPE= ,`, , , o . . .PgSt00110 I MOUNT 1 CLIENT BOYNTON BEACH MUNICIPAL FIREFIGHTERS PLAN BOYNTON BEACH MUNICIPAL FIREFIGHTER'S RETIREMENT PLAN Quarterly Invoice for September 30, 2012 Recordkeeping Administration Drop Plan administration for Fixed portion of Plan 500 00 Includes the following Quarterly Statements Mailed and on CD Quarterly Management Reports To ensure your payment is credited to your account, please reference this invoice number on your remittance. Sub - Total: $500.00 Payments Received: $0.00 If you have any questions, contact John Colvard at 864- 699 -6918 or by email to john.colvard @tegritgroup com Grand Total: $500.00 Retirement Plan DG-i% October 10, 2012 Ms. Barbara LaDue Invoice ID: 1532 Administrator City of Boynton Beach Firefighters Pension 1500 Gateway Boulvard, Suite 220 Boynton Beach, FL 33426 Email: Ladueb @bbpdpension.com MANAGEMENT FEE. BOYNTON BEACH FF BOYNTON BEACH MUNICIPAL FIREFIRGHTERS PENSION For the Period 7/1/2012 through 9/30/2012 9/30/2012 Portfolio Value: $ 6,847,030.29 1 Quarterly Fee Based On: 0.75% on the first $25,000,000 ($6,847,030) $ 12,838.18 Quarterly Fee: $ 12,8, .18 PLEASE REMIT PAYMENT TO: By Wire: Wells Fargo Bank NA ABA Number: 121000248 Account Name: Dalton, Greiner, Hartman, Maher & Co., LLC. Account Number: 2090001865061 Swift Code: WFBIUS6S By ACH/EFT: Wells Fargo Bank NA ABA Number: 063107513 Account Name: Dalton, Greiner, Hartman, Maher & Co., LLC Account Number: 2090001865061 By Check: Dalton, Greiner, Hartman, Maher & Co 3001 Tamiami Trail North, Suite #206 Naples, FL 34103 Attn: Dolores Casaletto Klausner, Kaufman, Jensen & Levinson A Partnership of Professional Associations Attorneys At Law 10059 Northwest 1st Court Plantation, Florida 33324 Tel. (954) 916 -1202 www.robertdklausner.com Fax (954) 916 -1232 Tax I.D.: 45- 4083636 BOYNTON BEACH FIREFIGHTERS September 30, 2012 Attn: MRS. BARBARA LA DUE, ADMIN. Bill # 14174 1500 GATEWAY BOULEVARD, SUITE 220 BOYNTON BEACH, FL 33426 For Legal Services Rendered Through 09/30/12 CLIENT: BOYNTON BEACH FIREFIGHTERS PENSION FUND : BOYNTON MATTER: BOYNTON BEACH FIREFIGHTERS - GENERAL FILE • 900334 Professional Fees Date Description Hours Amount 08/31/12 ANALYSIS OF CORRESPONDENCE WITH DIVISION 0.50 150.00 OF RETIREMENT; REVIEW APPLICABLE STATUTORY PROVISIONS 09/10/12 ATTENTION TO FILE RE ASB, REVIEW PROPOSED 1.50 450.00 CONTRACT AND DISCLOSURES 09/19/12 CALL TO ALLISON FERKO AT ASB; DRAFTED EMAIL; 1.00 300.00 CALL TO WEST; REVIEW EMAIL FROM WEST AND FILE 09/20/12 CALL FROM ALLISON FERKO RE CONTRACT; 2.00 600.00 DRAFTED EMAILS TO FERKO 09/20/12 RECEIPT AND REVIEW EMAIL FROM LADUE RE 0.50 150.00 INSURANCE; CALL LA DUE 09/21/12 DRAFTED EMAILS TO ASB; CALL TO ASB; REVIEW 2.50 750.00 FINAL CONTRACT; DRAFTED EMAIL TO WEST 09/24/12 RECEIPT AND REVIEWED EMAILS RE ASB; 2.00 600.00 DRAFTED EMAIL RE STATUS AS TAX QUALIFIED PLAN; 09/24/12 REVIEW FILE RE INSURANCE AND EMAIL FROM 0 70 210.00 LADUE 09/28/12 RECEIPT AND REVIEW EMAILS; DRAFTED EMAIL 0.20 60.00 TO ASB Total for Services 10.90 $3,270.00 Continued .. . Client: BOYNTON BEACH FIREFIGHTERS PENSION FUND September 30, 2012 Matter: 900334 - BOYNTON BEACH FIREFIGHTERS - GENERAL FILE Page 2 CURRENT BILL TOTAL AMOUNT DUE $ 3,270.00 Past Due Balance 3,840.00 AMOUNT DUE $7,110.00 Klausner, Kaufman, Jensen & Levinson A Partnership of Professional Associations Attorneys At Law 10059 Northwest 1st Court Plantation, Florida 33324 Tel. (954) 916 -1202 www.robertdklausner.com Fax (954) 916 -1232 Tax I.D.: 45- 4083636 BOYNTON BEACH FIREFIGHTERS August 30, 2012 Attn: MRS. BARBARA LA DUE, ADMIN. Bill # 14097 1500 GATEWAY BOULEVARD, SUITE 220 BOYNTON BEACH, FL 33426 For Legal Services Rendered Through 08/30/12 CLIENT BOYNTON BEACH FIREFIGHTERS PENSION FUND : BOYNTON MATTER: BOYNTON BEACH FIREFIGHTERS - GENERAL FILE . 900334 Professional Fees Date Description Hours Amount 07/18/12 RECEIPT AND REVIEW OF EMAILS RE BENEFIT 2.00 600.00 PLAN /INVESTOR ISSUES; CONFERENCE RE SAME (R. TARCZA) 07/18/12 TELEPHONE CONFERENCE AND RESEARCH RE 0.50 150.00 IRC 4975 - PRIVATE PLACEMENT AGREEMENTS (R. TARCZA) 07/19/12 REVIEW OF SUBSCRIPTION APPLICATION (R. 0.50 150.00 TARCZA) 08/01/12 RECEIPT AND REVIEW EMAILS 0.20 60.00 08/02/12 RECEIPT AND REVIEW EMAILS, REVIEW FILE 0.50 150.00 08/07/12 RECEIPT AND REVIEW EMAILS FROM LADUE; 0 40 120.00 REVIEW REPORTS 08/08/12 DRAFTED EMAIL TO LADUE; REVIEWED FILE 0.50 150.00 08/09/12 PREPARATION FOR BOARD MEETING; REVIEW 1 50 450.00 EMAILS AND FILE; DRAFTED EMAILS TO PALMQUIST AND CITY ATTORNEY; REVIEW REVISED AGENDA; REVIEW EMAILS 08/09/12 ATTENDED BOARD MEETING 4.00 1,200.00 08/10/12 RECEIPT AND REVIEW EMAILS AND SCHEDULES 0.50 150.00 FROM SALEM; REVIEW SHAREHOLDER SERVICING FEES AND MONEY MARKET ACCOUNT DETAILS 08/20/12 RECEIPT AND REVIEW EMAIL FROM CHAIR; 0 50 150.00 DRAFTED RESPONSE; REVIEW CORRESPONDENCE FROM DIVISION OF RETIREMENT 08/21/12 RECEIPT AND REVIEW EMAILS; DRAFTED EMAIL 0 50 150.00 08/23/12 RECEIPT AND REVIEW EMAILS 0 20 60 00 Continued . . r C7.:-.X.',6:.C7-,[ And it all comes together INVOICE Exact Americas 8800 Lyra Drive, Suite 220 Columbus, OH 43240 The City of Boynton Beach T. 800 468 0834 r Barbara La Due F 866 544 5456 1500 Gateway Blvd. Suite 220 www.exact.com Boynton Beach FL 33426 United States of America INVOICE REFERENCES REFERENCES No. 79025019 Prolongation P -12 Ordered By: The City of Boynton Beach Date 12/01/2012 Customer No 8960 Your Ref P:006137:101:001 ITEM Qty AMOUNT MN1044 Maintenance for Designer 1 00 $ 125.00 MN1060 Maintenance for SQL Server System Man (SQLS) 1.00 $ 500.00 MN1101 Maintenance for General Ledger 1.00 $ 125.00 MN1103 Maintenance for Accounts Payable 1.00 $ 125.00 ( j , cx —) l e � r ^ t A t A e PAYMENT INFORMATION Total amount excl. Tax $ 875.00 Net 30 Days PLEASE REMIT PAYMENT TO: DUE DATE AMOUNT Tax $ 52.50 12/31/2012 USD 927.50 EXACT SOFTWARE NORTH AMERICA LLC � 1136 PAYSPHERE CIRCLE rJ CHICAGO, IL 60674 0 www.exact.com Total amount incl. Tax $ 927.50 i t i 0 Page 1 Subsidiary of Exact Holding N.V. On all deliveries, transactions, services and user rights the Exact terms are applicable, which are put down at the Chamber of Commerce Haaglanden and which will be sent to you on request. The Exact terms can also be downloaded through the website www.exact.com. r. _ X And it all comes together Exact Americas 8800 Lyra Drive, Suite 220 Columbus, OH 43240 T: 800 468 0834 F 866 544 5456 www.exact.com Dear Valued Exact Customer, Enclosed is an invoice for your annual service renewal fees. It is important to note that in order to prevent any lapse in service we must receive full payment by the due date listed on the invoice. Payment of service renewal fees ensures that your company continues to receive on -going software updates & upgrades with product enhancements, and access to our Customer Portal for Exact's knowledgebase, product documentation and user guides and much more. If you have any questions please contact your Customer Advocate who will be happy to assist you You can reach them at 1- 800 -468 -0834, and enter their extension, or dial 0, and our operator can direct you to your Customer Advocate You can view your account and contract information via the Customer Portal at https: / /customers.exact.com. We appreciate your business and your trust in Exact. We look forward to continuing to provide you with the products and service you and your business needs! Sincerely, The Finance and Administration Team Exact Software North America, LLC. Please reference your invoice number with payment Remit to: Exact Software North America, LLC. 1136 Paysphere Circle Chicago, IL 60674 United States of America Tom'' E�ssoc,nnoH• P�s,o FPPTA Membership Renewal Receipt N ,v PUBLI F ,OB,oA Membership Year 2013 Membership Type Pension Boards Renewal Status Confirmed Renewal Fee $600.00 Organization Name Boynton Beach Firefighters' Pension Fund Address 1500 Gateway Boulevard Suite 220 Boynton Beach, FL 33426 Phone (561) 739 -7972 Fax (561) 731 -2997 E -mail ladueb @bbpdpension com Website Confirmed On 10/30/2012 9 11 46 AM By Barbara LaDue Paid On By Payment Method Check To Follow If you have paid for the renewal online at FPPTA.Org, you only need to keep this as your copy. If you are paying by check, please make your check payable to Florida Public Pension Trustees Association (FPPTA) and then mail a copy of this receipt and your check to the address below FPPTA 2946 Wellington Circle East Tallahassee, FL 32309 Phone 800 - 842 -4064 Fax 850 - 668 -8514 Printed on 10/30/2012 9 11 AM Date Printed 10/30/2012 9 10 28 AM FPPTA Organization Contact Sheet Org Name Boynton Beach Firefighters' Pension Fund Type Pension Board Address 1500 Gateway Boulevard Suite 220 Boynton Beach, FL 33426 Phone 5617397972 Fax 5617312997 EMail ladueb @bbpdpension.com WWW Date Printed 10/30/2012 9 10 28 AM Role First Name Last Name Phone Email Admin Barbara LaDue (561) 739 -7972 ladueb @bbpdpension.com Address 1500 Gateway Boulevard #220 Boynton Beach, FL 33426 Contact Luke Henderson hendersonl @bbfl.us Address 1500 Gateway Blvd Suite 220 Boynton Beach, FL 33426 Trustee Helen Bush ginbush @bellsouth.net (Ginger) Address 915 SW 27th Terrace Boynton Beach, FL 33435 Trustee Jon Raybuck (561) 739 -7972 RaybuckJ @bbfl.us Address 1500 Gateway Blvd Suite 220 Boynton Beach, FL 33426 Trustee Matt Petty mp43087 @hotmad.com Address 1500 Gateway Blvd Suite 220 Boynton Beach, FL 33426 Vim Ray Carter carterr @bbfl.us Address 2080 High Ridge Road Ex- Officio Member Boynton Beach, FL 33426 Trustee Robert Taylor robert.taylor @bethesdahealthcare.com Address 4 Via Lago Boynton Beach, FL 33435 D MICR D FOCUS SUPPORTLINE RENEWAL NOTICE Quote Date' 10/24/2012 Reference Number: 443141 Renewal Due By: 12/30/2012 Invoice: Police and Fire Pension Funds For the Police and Fire Pension Funds 1500 Gateway Blvd , Suite #220 Attention of: of Boynton Beach Renaissance Executive Suites 1500 Gateway Blvd , Suite #220 Boynton Beach, FL 33426 Renaissance Executive Suites Attn Barbara Ladue Boynton Beach, FL 33426 Tel • 561.739 7972 Attn Barbara Ladue Email Iadueb @bbpdpension com Tel 561 739.7972 Email Iadueb @bbpdpension com Please see the pricing below for your Support & Maintenance Renewal Tel (800) 632 -6265, Opt 2 x5063 Your Support Line Sales Representative is Teresa Gray, contact details Email teresa gray @microfocus com Fax 301 838 5314 Contract Renewal Contract Period (Please see supporting documentation for details) Contract Period 2 x Contract 3 x Contract Price Period Period Support & Maintenance renewal $ 252 10 $ 504 20 $ 756.30 Tax (the tax amount is approximate until invoiced) $ 15 13 $ 30 25 $ 45 38 TOTAL (Currency: USD) $ 267.23 $ 534.45 $ 801.68 Select Appropriate Box for Contract Period 9 9 -9 9 - 4 CI CI If the renewal meets your requirements, please select the appropriate contract period box above and one of the payment options below Should you have any questions about your Support & Maintenance renewal, please contact your Support Line Sales Representative (please see details above) /� / PLEASE NOTE: Renewals received after 1/29/2013 may be subject to a 20% re- instatement fee. f 33 `{mot 1 e - Select Payment Option ❑ Online: Secure E- Approval and credit cards https:// supportline .microfocus.com /eapproval.asp f fo4;-02- ❑ Purchase Order (PO): Send complete PO with all referenced terms & conditions ❑ Checks: Make Checks Payable to 'Micro Focus (US), Inc.', and send to 'Micro Focus (US), Inc., PO Box 19224, Palatine, IL 60055 -9224' ❑ Invoice Me: Complete and sign this page and e-mail to teresa.gray@microfocus.com or fax to 301 838 5314. By signing below you represent that you have the authority to bind the company to whom this Notice is addressed above to the terms of this Notice and the User Agreement Authorized Signature Printed Name and Title Terms: Customer irrevocably commits to make the payments specified above and such payments wit be due and payable Net 30 Days from the date of invoice, Any amounts not paid when due will accrue interest at a rate of 1 5% per month until paid Sales Tax: The Customer is responsible for any applicable tax (including VAT), unless the Customer provides Micro Focus with a copy of its tax exemption certificate If a Purchase Order is required, please provide the information to your Micro Focus Sales Representative before the Renewal Due Date shown above Except as otherwise specified above or agreed in writing by the parties, the standard Micro Focus support (silver level) terms and conditions shall apply to this order Those terms supersede any terms on a subsequent Purchase Order or other document issued by Police and Fire Pension Funds in relation to this order All terms contained in any Police and Fire Pension Funds provided documents are hereby rejected in full by Micro Focus Customer shall pay to Micro Focus an additional fee equal to 2 5% of any amount in excess of $2,500 paid by credit card Tel (800) 632 -6265, Opt 2 x5063 THANK YOU FOR BEING A MICRO FOCUS CUSTOMER Fax 301 838 5314 HTTPS / /SupportLine MicroFocus Com /EApproval ASP Reference No 443141 Page 2 of 2 Police and Fire Pension Funds Product, Hardware, OS, Version and Serial Number Contract Qty Single Contract Period Unit Price Application Server for Net Express with .NET Support Jan -30 -2013 10 25 21 252 10 Jan -29 -2014 Platform x86 running Win NT, 98, 2000, XP, Server 2003 32 Bit Version 4 0 00 Version Status End of Service* - Advice and avoidance support only License Location Police and Fire Pension Funds, Boynton Beach, Florida Serial Number 600000039587 Subtotal 252 10 Tax (Please note that taxes are approximate until invoiced) 15 13 TOTAL (Currency: USD): 267.23 The transaction or transactions descnbed in this renewal notice are without prejudice to any rights of Micro Focus ansrng from, inter alia, breach of any pertinent Micro Focus End User License Agreement and /or breach of Micro Focus's copyrights For full information on supported product versions and details of Sundown and End of service process, please visit http: / /suoaortline .microfocus.com /orodavail.asax. Products listed as Sundown or End of Service are subject to limited support services and restrictions on new corrective fixes. Your maintenance entitles you to favorable terms on available updates or upgrades and it is highly recommended that you use the latest versions. Please contact your sales representative for details Support http / /www microfocus com /_ex/External /files/ Legal /en/ Support/ SilverSupportAgreement /Silver_Support_Terms_EN_050911 pdf Tel (800) 632 -6265, Opt 2 x5063 THANK YOU FOR BEING A MICRO FOCUS CUSTOMER Fax 301 838 5314 HTTPS / /SupportLine MicroFocus Com /EApproval ASP Barbara Ladue From: Teresa Gray [teresa.gray @microfocus.com] Sent: Wednesday, October 24, 2012 10:27 AM To: Iadueb @bbpdpension com Subject: Micro Focus Support Line Renewal Attachments: Police and Fire Pension Funds - 443141.doc Hi Bob, The support for your Micro Focus licenses will expire on 1/29/13. I have attached a copy of the renewal quote for your reference. If you have any questions or concerns please do not hesitate to contact me. I will be happy to assist you. Thank you for your continued business with Micro Focus! Warmest Regards, Teresa Gray Account Manager - Support line Sales MICRO FOCUS teresa.orav(microfocus.com One Irvington Centre 700 King Farm Boulevard, Suite 400 Rockville, MD 20850 Phone: 800.632.6265 Opt 2 Ext 5063 Direct 301.838.5063 Fax 301.838.5314 Please consider the environment before printing this e-mail. This message has been scanned by MailController. 1 INTERCONTINENTAL REAL ESTATE CORPORATION INTERCONTINENTAL 1 270 SOLDIERS FIELD ROAD BOSTON, MASSACHUSETTS 02135 -1003 TELEPHONE 617 -782 -2600 FACSIMILE 617-782-9442 WWW intercontinental net PAUL J. NASSER Chief Ftnanctal Officer and Chief Operating Officer August 15, 2012 Ms. Barbara LaDue, Pension Administrator City of Boynton Beach Firefighters' Pension Fund Renaissance Executive Suites 1500 Gateway Blvd., Suite 220 Boynton Beach, FL 33426 RE. U.S. Real Estate Investment Fund, LLC Dear Ms. LaDue: We are pleased to announce that U.S. Real Estate Investment Fund, LLC (US REIF) has made a distribution to you in the amount of $68,803.49, which constitutes your pro rata gross share of an overall distribution of $7,036,207.66. The Fund has withheld $12,469.66 for payment of asset management fees for the second quarter 2012, resulting in a net distribution to you of $56,333.83. As authorized by your executed Dividend Reinvestment Plan (DRIP) letter, Intercontinental has reinvested your net distribution of $56,333.83 into US REIF. Intercontinental will report the number of reinvested shares as part of the third quarter 2012 reporting. If y , u hay: any questions or wish to change your method of payment, please contact Thomas Mitchell at .17-779 0472. sincere , Ctit ( OW1 Paul J. Nasser cc via email: David West, Bogdahn Consulting ® 202 GRS Gabriel Roeder Smith & Company One East Broward B1xd 954 527 1616 phone Consultants & Actuaries Suite 505 954 525 0083 fax Ft Lauderdale, FL 33301 -1804 www gabrielroeder com October 15, 2012 Mr. Luke Henderson Board Chairman. Board of Trustees City of Boynton Beach Municipal Firefighters' Pension Trust Fund Renaissance Executive Suites 1500 Gateway Blvd , Suite 220 Boynton Beach, FL 33426 Re. My Retirement Dear Luke. The purpose of this letter is to let you know that I will be retiring on December 31, 2012. After carefully considering your specific needs and the background of the other GRS Florida consultants, I suggest that Pete Strong serve as the lead Consultant for your Plan effective January 1, 2013. Pete has over 16 years of actuarial experience including nearly five years with GRS. His bio is enclosed. As you know, we have had two Consultants and one Senior Analyst assigned to your Plan for the past several years; this process will continue after my retirement. I am confident that these individuals will meet your needs and exceed your expectations The team in our Fort Lauderdale office that is responsible for your Plan consists of 13 people besides me. Seven of the 13 are credentialed actuanes, and four others are seeking credentials by way of the actuarial exam process. Our office also includes five more credentialed actuaries who are not on my team. GRS in total has about 120 employees, over 40 of whom are credentialed actuaries. In all, there are over 80 individuals at GRS who provide services to public retirement systems There is plenty of backup and public sector expertise for the services we provide to your Plan. Please be assured that GRS will make every effort to accomplish a seamless transition following my retirement You are encouraged to speak with Theora Braccialarghe, our Southeast Regional Director, in case you have any questions or concerns I have been serving retirement systems in Florida for 40 years. It has been an honor and a privilege for me to have been of service to you and your Retirement System. The best part of this career has been dealing with so many outstanding trustees who take their duties and responsibilities very seriously. I wish you continued success in fulfilling your role as fiduciary We welcome your questions and comments. YL Stephen Palmquist, ASA Senior Consultant & Actuary Enclosure CC. Theora Braccialarghe Pete Strong Peter N. Strong, ASA, EA, FCA, MAAA *,4 Consultant pete strong @gabrielroeder.com Present Responsibility Pete Strong is a Consultant with Gabriel, Roeder, Smith & Company (GRS). He works in the Fort Lauderdale, Honda office, where he provides actuarial and consulting services foi public employee retirement systems and OPEB plans. He is responsible for the preparation and presentation of valuations, plan design studies, experience studies and cash flow projections Professional Experience Pete has over 16 years of actuarial and benefits consulting experience, including almost 5 years with GRS. He has worked with both public sector and private sector pension systems over the course of his career. His pension plan experience includes significant involvement with defined benefit and hybrid plan designs, deterministic and stochastic projection studies, early retirement windows, benefit tier design studies, and pension plan redesign studies Pete is very interested in and dedicated to the long- term sustainability of public pension plans. Professional Designations ➢ Associate, Society of Actuaries ➢ Enrolled Actuary, ERISA ➢ Fellow, Conference of Consulting Actuaries ➢ Member, American Academy of Actuaries Presentations Pete has served as a speaker at the Florida Public Pension Trustees Association (FPPTA) Trustees School. Education Bachelor of Science, Mathematical Sciences, University of North Carolina at Chapel Hill BOYNTON BEACH FIREFIGHTERS' PENSION FUND Scheduled 2013 Quarterly Board Meetings February 14, 2013, Thursday, @ 2:OOPM May 9, 2013, Thursday, @ 2:OOPM August 8, 2013, Thursday, @ 2:OOPM November 14, 2013, Thursday, @ 2:OOPM (Meeting dates on 2 ❑d Thursday of the Month) Meeting Place: Renaissance Commons Executive Suites 1500 Gateway Blvd., Suite 220 Boynton Beach, FL 33426 November 2012revised ��p l�,`�� " Wvyp ,•'tl�OQ0 ©rn� ~ �pI/ 1 ��v nn Mme ��r� * Z„V�� rc -I m OOO<C3O ��HG�C�nonmtnmac�vOx�l>n n DG1��t7 1� �`�`' DGf p x <mrr - rn I�xzxoozm zr - >Ou >HZ- -4Zv cQ- - 2O m r - 4 4C<a7 2 � OmZD- C° HZZm >r >�rrnC1- >' DD- - O:v -4G1- rO00H- Da7onmQN3- IZVPC <- rn rnmz >uoo t- Icy- 000- fir, 1`�b ra mmmmHmaCa:vD00zzOmDO- btnm00uHm� z�pmtrmcn� zcnzmH -tz - - irn70zb- G- 170cuDrrc. > xm --I <Hrm -1 -3r rr :v zz HO o Hr-m< mH m a2q d rn r Vi r x O HZ H L�oS �•t7 r , • , o►• �QOOraraWOddc��- •�oQQQaoF•- FQC�WOOOaoorar�oo Ca WW` JNWQNNWV• fJt? 1.DVQIVPNVNWWOO(31NG ;t7 C7 - oacaQQQOOOOaoodQQOOOOaaoQOOddoQQ -�•rt rP V! -' (D • WC aC ��t7000Naoopoa�oot�DG�7o�DC�aa ~" oC�� ° ot�DaWC��w 0 (D O , Q 00 Q 00 00 1� d1 Q0 N W W w .P N .�+ N A N to ! -� V •P V W 0o cn •V O A 00 lt? OR tD -f� `�. -h a .�� m m� H n C7 G1 D x • v, -i x nw m s�. J• � H (p -, J. m rt am < mH z� v� x ln7Cn nnxo � Q30 r -<»s rnnrr >O �DHO »r »H H» ;p Z- 4Zx�mG1H b m-iv z in Z-ib 7o 7a-iD r3x H Zit >HZCW� -<Z oaoxx ro O rn� OOrz-m r Zr < v mH viC7 -c0 DH» -i nt7 ib znn nx D O uzmvi �O H HmH n DD off 7o r -h pz m >3znc O»• r r c ID Z C G�mbxm m Dm�ODC - o ;v a0 m oa H On <xoo c�rroao0 z ro x rnrxn r m Z0nn 7Dmm mOcm z x� rm G r m m r0�0- imz�Cr zzrr (n H Z H> Z < m O b O D r O r -h c >i J. m „< rn < ZH tmJ1 Z 2 Z n 4. Q "I ,v rn HNC S3+ rtt '1 23 PENSION FUND INCOME AND DISBURSEMENTS Year Ending Year Ending 9/30/2007 9/30/2006 Market Value at Beginning of Period $ 43,503,983 $ 37,719,264 Income Member Contributions 941,303 536,650 State Contributions 1,038,887 780,147 Employer Contributions 2,074,830 1,750,025 Other Contributions (Buy - Backs) 71,206 148,149 Investment Earnings Interest, Dividends and Other 1,689,027 1,237,193 Net Appreciation 3,997,354 1,086,028 Total Earnings 5,686,381 2,323,221 Total Income 9,812,607 5,538,192 Disbursements Monthly Benefit Payments 2,738,452 2,575,336 DROP Distributions 225,500 114,949 Refund of Contributions 33,600 31,411 Investment Related Expenses 279,556 199,481 Other Administrative Expenses 130,428 86,178 Insurance Premiums 0 0 Other Expenses 0 0 Total Disbursements 3,407,536 3,007,355 Net Increase During Period 6,405,071 2,530,837 Market Value at End of Period 49,909,054 43,503,983 Less: DROP Account Balance 3,796,005 3,118,728 Less: State Contribution Reserve 704,823 255,478 Final Market Value 45,408,226 40,129,777 21 CLAIMS AND PROCEDURES The Plan Administrator has adopted rules to follow when a member applies for a benefit. These rules may be obtained from the office of the Pension Administrator. 19 IMPORTANT NOTICE There are certain circumstances which may result in the disqualification, ineligibility, denial, loss, forfeiture, suspension or deferral of your benefits in this Plan. The following is a list of these circumstances: 1. If you terminate employment before you have enough Credited Service to have earned a vested interest, no benefits will be payable except for a return of your own contributions without interest. 2. If you die before attaining ten years of Credited Service, no benefits will be payable except for a return of your own contributions without interest. 3. No credit is allowed either for benefit accrual or vesting purposes for any period in which you are not considered a full -time employee. 4. Your retirement benefit will not be payable until your actual retirement date, even if you continue to work beyond your normal retirement date. 5. In the event that this Plan terminates and the available Plan assets are less than the value of all Accrued Benefits, then your Accrued Benefit may be reduced. 6. Your Accrued Benefit may be forfeited if you are convicted of certain felonies as provided by State law (Chapter 112.3173 F.S.). 7. Payment of your benefits may be subject to an income deduction order made pursuant to a state domestic relations law. 17 4. Option 4 - Other You may elect another optional form which is subject to the approval of the Plan Administrator and which is actuarially equivalent to the Normal Form of Benefit. In no event may the total of benefit payments to you and your Beneficiary be less than your own accumulated contributions. 15 VESTED RETIREMENT BENEFIT If you terminate employment, other than by reason of retirement, disability or death, you may be entitled to a deferred Vested Retirement Benefit. This benefit is equal to your Accrued Benefit on your termination date multiplied by your vested interest. The following chart shows your vested interest in your Accrued Benefit. Vesting Schedule C ompleted Years Vested o f Credited Service Interest Less than 10 0% 10 or more 100 The vested benefit is payable on the date which would have been your Normal Retirement Date had you continued m full -time employment. If earlier, you may receive your vested benefit, reduced as for Early Retirement, any time after your 50th birthday. If you terminate employment with less than ten years of Credited Service, you will receive a refund of your own contributions without interest. The taxable portion of any refund you receive is subject to an automatic 20% withholding for federal income tax purposes. This tax can be avoided, however, if you roll the taxable portion over to an Individual Retirement Account (IRA) or another qualified employer plan. This rollover will result in no tax being due until you begin withdrawing funds from the IRA or other qualified employer plan. The rollover of the distribution, however, must be made directly by the Plan to your chosen IRA or other qualified employer plan. 13 DISABILITY RETIREMENT If you become totally and permanently disabled as provided by the Plan, you may be eligible for a disability benefit. Disability eligibility determinations are made by the Board of Trustees. In the case of a disability incurred in the line of duty, you will be eligible for a benefit regardless of your length of service. In the case of a disability that is not incurred in the line of duty, you will only be eligible for a benefit if you have at least ten years of Credited Service. The amount of your benefit due to a line of duty disability is 66 2/3% of your basic monthly rate of earnings in effect on the date of disability. This amount is reduced by any Social Security benefits you may receive. In no event shall the amount of your benefit be less than 42% of your Average Monthly Salary. This benefit is payable until your death or recovery. The amount of your benefit due to non -line of duty disability is 2.5% of your Average Monthly Salary multiplied by your years of service, with a minimum of 25% of your Average Monthly Salary. This benefit is payable until your death or recovery. If you apply for disability retirement, you will be required to submit to a medical examination as determined by the Plan Administrator. The burden of proving that you are totally and permanently disabled from useful and efficient service as a firefighter will be on you. 11 have received had he or she actually separated from service are deposited into an account for the member's benefit and are invested as part of the Pension Fund. The member ceases making employee contributions into the Plan during his or her DROP participation and is no longer eligible for any increase in pension benefits. If you enter the DROP Plan, the monthly benefit that you would have received if you had retired on your election date will be paid into a DROP account. DROP accounts are invested, at the option of the member, using two investment options: 1) Gain or loss at the same rate earned by the Plan, or 2) Guaranteed rate of 7 %. Under the first option, DROP monies gain or lose interest at the same rate as the Plan. As a result, your DROP account balance will fluctuate with the performance of the financial markets. Although a participant's DROP account may earn more the 7 %, it is also possible that the DROP account will earn less that 7 %, or even lose money based on the investment performance of the Pension Fund. Under the second option, DROP monies will earn interest at an annual fixed rate of seven percent (7 %). This option should be viewed as a more predictable and safer alternative, as the fixed rate of return is guaranteed with no risk of loss. The selection of an investment option is an important decision and should be made after careful deliberation. Once an option is selected, it may be changed once a year on new money deposits. DROP participants should carefully review the Plan's Frequently Asked Questions booklet, which is available upon request. It is also recommended that each DROP participant consult legal and financial advisers, weigh their options carefully, and make a decision that best suits their personal needs. You may participate in the DROP Plan for five years or, if earlier, until you have a total of 30 years of service. Upon retirement, the balance in your DROP account will become payable. You will have the following options of payment: 1. A single lump sum payment 2. Equal periodic payments 9 RETIREMENT BENEFITS Normal Retirement Benefit The monthly benefit that you will receive if you continue in employment until your Normal Retirement Date is called your Normal Retirement Benefit. The amount of your Normal Retirement Benefit is based on the following factors: 1. Your Covered Salary - This is the amount of your cash compensation excluding bonuses and incentive pay, but including lump sum payment of unused leave, step -up pay, and overtime pay. 2. Your Average Monthly Salary - This is the average of your Covered Salary during the highest three years during the final ten years of employment. 3. Your years of Credited Service at your Normal Retirement Date. The calculation of your Normal Retirement Benefit is as follows: 3.0% of your Average Monthly Salary multiplied by your years of Credited Service. As an example, if your Average Monthly Salary at your Normal Retirement Date is $4,000 and your Credited Service is 22 years, then the calculation would be as follows: 3.0% x $4,000 x 22 years = $2,640 which would be your Normal Retirement Benefit payable each month. The retirement benefit is paid to you for the rest of your life in accordance with the Normal Form of Benefit Payment as described later. (However, see the sections on Death Benefits After Retirement and Election of Optional Forms of Benefit Payments.) Your benefits from this Plan are paid in addition to any benefits you may receive from Social Security. Accrued Benefit The portion of your Normal Retirement Benefit that you have earned at any point in time is your Accrued Benefit. Your Accrued Benefit is computed in the same way as the Normal 7 Prior Military/Firefighter Service You may purchase up to five years of Credited Service based on 1) honorable military service in the Armed Forces of the United States, or 2) service as a full -time firefighter employed by a city, county, state, federal or other public agency other than the Employer. You will receive this Credited Service once you pay the Fund the full actuarial cost of such service. You will be allowed to purchase the service via biweekly payroll deductions over a period of five years or in one lump sum payment. Purchased service will count for benefit computation purposes but not vesting. Please note that no service credit may be purchased if you are receiving or will receive any other retirement benefit based on such service, including a military or public pension. Family and Medical Leave Act Should you take a leave of absence under the Family and Medical Leave Act, your service will remain continuous even if you are not in a pay status. Use of accumulated leave time will be treated as Credited Service. A contribution will be picked up from paid leave. Use of unpaid leave, however, will not be treated as Credited Service. Permissive Service Credit If you do not have prior firefighter or military service, you may purchase an enhanced benefit multiplier. Under the provision, your regular benefit multiplier (3.0% for retirement) will be twice as large for the number of years purchased, not to exceed five years. You will receive this benefit once you pay the Fund the full actuarial cost of the enhancement. You will be allowed to purchase the service via biweekly payroll deductions over a period of five years or in one lump. Your purchase does not count for vesting or retirement eligibility purposes. 5 CONTRIBUTIONS TO THE PLAN Benefits of the Plan are financed by contributions that are paid into the pension fund and by investment earnings generated by investments of the pension fund. Contributions to the fund are made by: You Your contribution rate is 12% of your Covered Salary (see later page for definition of Covered Salary). Your contributions will cease upon your retirement, death, or employment termination. Interest is not credited to your contributions. State of Florida Monies are paid each year by the State pursuant to Chapter 175, F.S. Said monies are used for the benefit of firefighters. Your Employer The City of Boynton Beach must contribute an amount determined by the Plan's actuary to be sufficient, along with your contribution and the State contribution, to fund systematically the benefits under the Plan. The Employer's contribution will vary depending on the experience of the Plan. 3 activities on behalf of the Fund. In order to keep up on the latest trends in pension management, Trustees regularly attend schools and seminars pertaining to the management of pension funds for public employees. Plan Year Each 12 month period beginning on October 1st and ending on September 30th. The Plan's fiscal records are maintained on this basis. Relevant Provisions of Local and State Laws The Plan is set forth in Section 18 of the Code of Ordinances of the City of Boynton Beach. The most recent amendment to the Plan reflected in this Summary Plan Description is Ordinance No. 08 -009. The Plan is also governed by certain provisions of Part VII, Chapter 112, Florida Statutes (F.S.), Chapter 175 F.S., and various federal laws. Relevant Provisions of Collective Bargaining Agreements Certain employees covered by the Plan are members of the Local 1891 of the International Association of Firefighters. The current collective bargaining agreement between the unit and the Employer covers the period from October 1, 2008 through September 30, 2011. This agreement does not refer to pension matters. Custodian The custodian of the Plan is responsible for the safe - keeping of securities owned by the Pension Fund. The custodian is: Salem Trust Deerfield Beach, Florida 1 INTRODUCTION TO YOUR PLAN The City of Boynton Beach has established a defined benefit pension plan to provide eligible employees with retirement and related benefits. This Summary Plan Description is a brief description of that Plan and your rights, obligations and benefits under it. This Summary Plan Description is not meant to interpret, extend or change the provisions of the Plan in any way. The provisions of the Plan may only be determined accurately by reading the actual Plan documents. These documents include appropriate City ordinances, Chapters 112 and 175, Florida Statutes, and any rules and regulations adopted by the Board of Trustees. A copy of these documents is on file at the Office of the Pension Administrator and may be read by you, your beneficiaries or your legal representatives at any reasonable time. If you have any questions regarding the Plan or this Summary Plan Description, you should direct them, in writing, to the Plan's Administrator. In the event of any conflict between this Summary Plan Description and the actual provisions of the Plan documents, the Plan documents control. This Summary Plan Description is solely intended as a guide to your benefits and is not intended to create a contract or promise of any specific benefit. Any examples used in this Summary Plan Description are for illustration purposes only and do not represent the actual benefit to be received by any specific person. w zmw cnO 3 c n m J W NCII000HhO001w00- 00001- IC1t0 �V0 '0.P --. n r+- 44tO1-- - o00t0A1- `AAv1NNVO0 `< o va- wN.A'0- -J .0 01Ov1O00 -JNJIHM00NJ00Ow.0001- A0 -O -.. w1-+t 0. 01 N -03 0NIu1I-+ 0OI .4NV030o0Ac0H'wl01- 0141- v,VCI 000XXXXXXX o , OMMMmOOZZZ3333333rrrrr7� r xmmOHz =xxmm�COIHDX<mmmOHrDDDDOHHrDz 0+ mHD -In0000H==HO>n mm v, om- inmxonfc3D3H z 3070= x0000- Immz 1 -1Hxm- >3m0 r+ sv Hx�0 - <mmmH -<z >m -<D .,z73� - rDD n- 7o no- - - -I r- 7 - vi v Z- - - >- r m- z- - <0- -4- - n to x007:tnz r - IHCim >3 - 0mx>03- irru3- - iuH - m - 7c - '• - 730 00 i'rMONH<z >3Z mrmmH r0HOx00X0mm - - ♦rnmmzr730• 3DrHO -im- •vzr >(P - n- xrOOi 1-1)>H to IC- D• -<- >0000ZX i73'Cxzmz 0• XzXC3z n >C-4 rt 00-1Xx - 0womm m= mHmz H H HCi> =70r2 - 3 >0 u > -♦x Xm >70r -i X r zr0 DO > 70 00 D 3 2-1 X r X H x -< r 0 D 70 H rn p Ohm m vmi z< v H nv' • -I to 3 X 000 01 V r+ -< =0 -1 0 0000000001100H0000000 +F1 0000000000H00 m tnv1N- V - r .JV 1 H NOOWOOVVNw.00 , JV0A03 700 pp \\\\ \ \ \ \ \\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \\ \ \ \ \ \ \ \ \\ 0 m 1L 0 00000000000000000000000000000000000 - ' - .< 1-J 1- 1- 1 1- I- 1- 1 1 1- 1 1-' I ) -' 1-1 I-•� I I 1- 1- I J H 1- 0 - . (D Z \\\\ \\\\\\\\\\\\\ \\\\\ \\\\\ \\\\\\\\ a 11-4 (0000 OH 10000( 0O) -•&( 0000 (Ot0Ot.D1H0OOOOt0O(0000OO000 =MO HO 01 1 4OOC1O00H-INWN0N)MtOVH1W4Atn1.l • \fi 73z m H M MM 0 0> xn n, m a m 0 0. '1i v1 H M.--1 -X J. m r-r mm m H zn 02 OrM 3 zm 00guXG1033 rnrrOump� z H Zm >>> > O70 OHmOmmXHDHDDCr IDDHmIXD N <XH X D 00m >DpomNn- ivy -Imw> >mcXxHC>, 3 N m ==>xm>z 707070HHr m m m m H 1 H 7o ZZ r D mm H D z n O-<H m r H r Z D M Z > OH m HZ< Mr7JMnp = Z m <TH mz x 1 m>zvDmH• H 3m 3 3z 37 n1 Dz W o MOM X HM X H Z > 0 3H to 3> rDm mm> H Z mxTmn Omz rxn >7>nnHCD 00 H 31-70 n m3 >>0rxmX m> 3m • Cm3 m 0 0rn = 7000Dr70m0Xzz >H - 1HH> ' 3 z HM > 70 003 - mrnz<3zmzln HZ0mr0 z m nm 7o x70 Dm >z000m >mo - 4 zv1D 0 0> J m 0 7: 0 00 3 D- <rHZHXZ Z WWO- z m• z z m o m m< f (- u x - o v+ -Z H m Dcn H k< H m 1 3 E - z r mm 70 m H 07 a Hr.) m TI H1 m O -I m 1 - 1 m 0 W W W N W - - -NN 1 NNw 111 11111 111111 0= W W 1- W W W W W N1.1H1 W W W W W W NNN 1- OM \ 1 1 1 vDD 1 02.7, 0000C>0 D0000D0 r 0 • . 1-1 N - tnNwwwtnwtn +Hl -ww V01441-1 -1 W W W w 1-' W N - - . W 01 - - - - .. - .. - .. -t0 I- 01000001 ArvVw000W00H+- 0�NJ(I0VH1-I0 00-40�w Om O 0 NJl V1-1NV1 0 0011 nN01W- 1-1v7W01∎10WWV00NOWAtn -. V1 r+ 1, 1- . • • • • . (OW1.1Av1vtO00NWW'.00-1 ' NA (01-- pa - ' � 3 < 0 D OtON tnNA0 0001wtOw \ G7 NJ m 1- 1-11-1 0 C11-'O1V OO Ifl DD Cl 11- Off. OIVV 0 VI - - NN01(00101- ' - Nlp00N HM NJ N 0000NW - - - - - 0100 ( O 1 NWOWNVF�t0 O03 �m 4 O -w- - tnal►01t0001 -1-1 00 tnww1- 1 v 1 OO- NV10101 to J•0 001 w 01 011- NI VW0AV NJW0vi.1- 'to1-'0101 tn0 tn- 'V00O0300 < r-1 000101 VV- 0NV(ON • • • • • • • • • • 00V N0oOOOO - VV00WN tOwtnu't0OF a 0 J 000 - 0000000001 NOI001N- 00. -0ONN. Z. f Z In . D C ■1 O X 3 c n CT I J. .. - ah J. a . (.0 NJ (.0 til 03 5.0 'V V - 0 O1I- , 4 1 . 000000Vt0 000vi - 3 rt N 00 01 01 01 Vl C1 00 D CO -1 W F• V A W V 1-- N O W O `< t0NV10A0100to7J A< AlC1- • 00'OW V0000w -( t0 AO1I- 4 VC1W00V01 0 0 V573 Z f«< -1 un cn(n lnln r OHHODCZC D OHHDFOX -4Z3HH a u n lnn7OZ- c z Nn -< DOOIn3 vi z nxx- 4zH-Im v zxxmnz7rx- rt a HODrHZ2 m HHHZ- CC3X•• rOtn - 3 m- 7370 z- - - r n- - -I- - 030- 0 (D nDV - n>0 r 7C73rHwootfDZmz m v+ x z v r- v r D - - 0 0 Z 70 A 7C 73 - 0 - - • Oz02Dr >X m 3070mmDH7C3G1 - 1 )=.Z1>rm00 70 DZ70- Z0- HDm In W - 7OHm -<r H 73 m >- I-I (I 730 r+ 7C 37nzw n 7C - <HHOmx x0,1 - H 7 D 0 Z1" Z m 0z�f > A H r n irn x z r -< • n D -< H r SO -< m - h3 0 70 T 0 000000000E-& 0 N VF- '�'VtCw00AVV p0 00 n \ \ \\ \ \ \ \ \ \ \\ v m a 0 0 00 0 00000000 -I•rt rt -< 70 0 00F�NNNF�NNF - VI -'•(D z m \ \\ \\\\\\\ a m -I 0 Ot00oO A0000tOO CT fD 0 H 0 H V A00NAt0lOONNA01 • \-fi mZ m - T1 CO 0 H m 0 L1 D m -I. 2 n ut -fix r 0 O r 0 Q Q m H 0 (1)---4 In H -A m m m rt "Om `< m H O I v z H -1 0m x 0 D z73 73- zD a 0� 0 H D 0 D A Dm Dz M M DM Z Z <H A,70 In V1 0 DZ M Z D Z m H H H -11 W 61 7 -i z In a H 0 0 m-I m 7C "0 03 0 XI > m H (D1 H z O z ( z m Z X f H J1 m 70 -< r < 0 0 - n n -< M -4. 0 -i H H `C H 3 Z -I 0 - v -I 0 0 • 0 H a \0 Z W W W A W N W A W (D N W A W WIN W WIN W W OM \ D » o > D F• > m voo >> co> Do rt 0 3 rt N M ANH HNHH w AW VN0IAWVIN0I -4 -4 COAt0v1WA1NVJ 0 ( v 1 0(0V0Av1AI- (D 0 0 (11 I- +w0AA LC) 00 CO ( 0At0000V , -J W 00( - 7 7 N O4=. 001- 1Vi4::. (.0V I•-) Vv to rt N w0 V w 1••+ to V 00 • • {--I N O 00 0.....i w m wv100 us VI 0 - VD0� (0(.0ViN 7`C 0 D 01 \ ni CI W W V1 N m to N O 0 4 .04 1 .WI -1 NANN - 01 - t001 A W0001H N - Im N W w 0 0 01 to 0 - - - - - - - 1-+ W N 011- , 00 tO 00 1 , I--' N 01 Vl W NJ 0 0 F-� 00 F J NJ -.11 0 000VN0(0 (.0 try • N Vi I- CO ' 0 0 OAV0 N In < • (- • t^1- N01 N 0 H m rt 01 N 011- , V1MwHvI■ 0 H A 1 .001 0 030AviwV1003 - 3 Q- 0 0 AN00300000000041. , 0 z00 D C it O x 3C n u Z J. (D J . t0 N tO to 00 t0 V V - o- 0 F-+ A 00 00 00 V t0 00 O In i Z rt N 00 C10101tn 0100 00 wH'v AwvH+N0W O' '< tON00A0100tnx A< AtOH+■000100v100tnN mq)w■Jomow< tG A01H'VC1w00V01OO �cn Xm3mxo f f«<- 1-100( ow r OHHODCZC D 01HDX2 -- Z3HH W uvinmz -1Cm z NnnrD-<D0003 kri Z nxmHzHHm v zx7Cmnzx r7Co rF W HODmHZx-< m HHHZ-<LI7C- rOvf - 3 m- 77 72 z- - - r n- - -i- - 00. O (D n>o- n> nn r xxrH000OinDzmz T to IZV1n- x r> - - 0Oz70707C70- v- J. Ozox>r >x m 30xmmDHx3fC) z EDZDrmpO 7o Dzx- zv- HDm to (o - xHrn-(r H xmD -1-IrV nxo rt x 3rnz0 n 7C <HH 1Omx 20T H x z m z m O z > X H m =m z z r - • n > H r SO rt m - t, 0 X T Ht OOOOOOO000H+ 0 f' VH , F+VtOwOOAVVN X0 07 - n \ \ \ \ \ \ \ \ \ \\ Om Pi 0 0 000 00000000 J•rt rt •< X 0 0FJF-- 'H+H'H'H'FJF.'f'F••' In J•(D Z m \ \ \ \ \ \ \ \ \ \ \\ C (D T -� 0 Ot>,O0O 0O 0 O HO V A00NAt0OOV tNA01 \ i� m z M T o, 0 HM v n D m J• 2n r 0 -I x O 0 p Q Q T 0 m J N H -< .X m J' m m rt mm `< m H O I (f( z Z H m Om i 0 i Dm DD Du w z0 H 1 ' * I X D (I I i G 2 DZ m D 13 W 7o > 0 <1-4 XX WW 0 DZ M m m Z m H H H -I, N O-u 0 m H m X 13 07 HO r zx cn ON (D z v -iD -I W - o m z Z- m 0 z f m x v1 7C H J. 1 ' ' r n Z m J. O m H H `< H z 0 H 0 v H 0 OO 0 0 S W J. 0 Z wWWAwH+WA S_ V •) (D N W A W W N W W N W W OM \ D >>c'u > >> rt 1 3 OWDD MD DM - c,, 0 3 '{ NJ m ANFJ 1- +NI--t1 -+ W AW VN01AWVfNO1 H z .. .. . .. .. .. H 00 tOtnWANW 0 1- W --' (D O 0 vt H'WOAA(OO 00 ( OAt0O00tnVW00WH4 33 H OAODNtnAtOV N OOF-'W0v, 0 In rt N W000000 lntD00 0 (000N WWNN FJN000 0.--I \ VI VH'OAt/01)10(0V1N 3 0 D 01 \ G1 LA) w t" NJ m VI N 0 t0AWH'NANN - Ol - t001 A W00H N - 1(D N W 0300 0 0 (0 - 01 p W 0 01 1 to O + y u Ha W N 01 1--' 00 tD 00 1--' 1--' N 01 Ln W N 0 0 H 00 FJ NJ S (D o O 00 V N O'O'O to • NJ • to � 0 O A V V N cn < ri F • to F-' 0 N01NO I-' < W 01 NJ 01 Nto1WHIJ1V O W 0100100100001 0 A - NJ00 fl O ANO00000o0o0A