Agenda 08-05-15
BOYNTON BEACH FIREFIGHTERS’ PENSION FUND
QUARTERLY BOARD MEETING
WEDNESDAY, August 5, 2015 @ 9:00AM
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 02-25-2015
Quarterly Meeting 05-06-2015
IV. FINANCIAL REPORTS:
A) Bogdahn Consulting – Dave West, Consultant
1) Investment Performance Review for Quarter June 30, 2015
B) Gabriel, Roeder, Smith & Co – Pete Strong, Actuary
1) Letter of 7-8-2015 by Mayor Taylor for the City to engage GRS for various
pension projections.
2) New Compliance & Reporting - Revised Chapter 112.664 dated 6-26-2015
3) Required Reports/Disclosures for City WebSite
4) Discussion on Mortality Tables –RP 2014 with various State orders, etc
5) Extra Payments for Unfunded Liability dated 7-2-2015
C) Attorney Report – Adam Levinson
1) Reminder Pending State Deadlines dated 7-8-2015 also additional
requirements:
a) Detailed Accounting Report for SPD
b) Administrative Expense Budget with administrative expenses for
years 2011, 2012, 2013 and 2014 for reference
2) Intercontinental – Seventeenth Amendment dated 7-1-2015
3) DROP loan provision – memo of 7-2-2015 by interested DROP participant.
V. CORRESPONDENCE –
1) Tim Conway – New Head of Convergex Recapture Services
VI. OLD BUSINESS –
1)
Fact Sheet to counter misinformation on Pension Funding – Dave West & Pete
Strong – Update
2)
Debra Dypold – Restart benefit payments 8-1-15 – lump sum retro benefits since Nov
2013.
1
VII. NEW BUSINESS
:
A.Invoices for review and approval:
1. Schroder Fixed Income Mgt – Qtry fee 09-30-2015 - $
2. DSM Capital Partners LLC – Qtry fee 09-30-2015 - $23,315.41
3. Bogdahn Group – Qtry fee 06-30-2015 - $8,375
4. Klausner, Kaufman, Jensen & Levinson – Service Jun 2015 - $2,880
5. Anchor Capital Advisors – Quarterly fee – 06-30-2015 - $
6. GRS - Service June 2015 - $4,680
7. Alerus – Qtry DROP Admin Fee - $500
charged to account.
8. Salem Trust Custodial Fee 6-30-15 - $8,126.17
$8,616.81
9. Intercontinental- Management Quarterly fee 12-31-2014 -
withheld from dividend reinvestment plan.
withheld - $8,271.74
10. ASB Real Estate Fund – Quarterly Fee 6-30-2015
VIII. PENSION ADMINISTRATOR’S REPORT:
1.Benefits as of 08-01-2015.
2.Schedule of 2016 Quarterly Board Meetings
IX. PUBLIC COMMENTS:
X. ADJOURNMENT:
Next Meeting Date – WEDNESDAY, November 4th, 2015 @ 9:00AM–
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
2