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Home My WebLink About2025-02-24 Police & Fire Pension Board Minutes City of Dania Beach Police and Fire Fighters Retirement System 100 W. Dania Beach Blvd. Dania Beach, Florida 33004 Phone: (954) 393-9061 954-648-4448 E-mail: pfpens@gmail.com Page 1 of 5 MINUTES FEBRUARY 24, 2025 HYBRID WEBEX MEETING IN THE DANIA BEACH WOMEN’S CLUBHOUSE 7 pm I. CALL TO ORDER The meeting was called to order by Rae Lair at 7:10 PM Second: Patricia Fuccile MEMBERS PRESENT: MEMBERS ABSENT: Chairman Larry Rogers Al Jones - excused Todd Neal David Nuby, Jr. - excused Rae Lair Rich Tarrant - excused Patricia Fuccile ` Dean Harley – excused Rich Sieb ALSO PRESENT: Pedro Herrera – Sugarman, Susskind, Braswell & Herrera, PA Eric Leventhal, CPA - Kabat, Schertzer, De La Torre, Taraboulos Steve Roth – Dahab Associates Cathy David – Administrator II. APPROVAL OF MINUTES MOTION: by Patricial Fuccile to accept minutes from the January 13, 2025 meeting as submitted. SECOND: Rae Lair PASSED UNANIMOUSLY III. PUBLIC COMMENT Chairman Rogers passed out Rules for Outside Participants attending meetings. He commented that they are very similar to those the City Commission uses at its meetings. The Board approved the proposed Rules for Outside Participants’ discourse during public comments. IV. CONSENT AGENDA No items listed on the Consent Agend February 24, 2025 Page 2 of 5 V. OLD BUSINESS 5.1 POP-UP The plan’s actuary, Dina Lerner brought the trustees up to date with the Pop-Up benefit. This item was tabled at the last meeting on January 13, 2025. Dina reported the following to the trustees. The Actuarial Report for 10.1.2003 stated that the Pop-Up benefit was paid for from the Chapter 175 premium tax monies remaining balance of $98,305 that was carried over from the 10.1.2002 Actuarial Report. It appears that certain eligible firefighter members took advantage of utilizing the premium tax dollars to subsidize their respective pop-up benefit while those who retired after a certain date were required to “pay” for such benefits themselves. Trustee Neal raised the issue of whether or not this was collectively bargained and how could a certain group of firefighters, led by the then chairman of the pension board, get such benefits for free while the rest of the bargaining unit members and future retirees were forced to fund such benefits themselves. Attorney Herrera advised that this was a unique and strange circumstance, and he was not aware how such benefits were granted to these certain “lucky” individuals without the union’s consent through a collective bargaining agreement or amendment or MOU thereto. Dina calculated the amounts available for fire retirees that have a Joint & Survivor benefit that a retiree would receive when retiring. Fire retiree Joe Bertuccio’s wife, Sue passed away in December 2024. Since he had a Joint & Survivor retirement, he was eligible for the Pop-Up benefit. The amounts were calculated for his new monthly benefit to include the Pop-Up benefit and also to give him the Pop-Up benefit for the months of January and February 2025. MOTION by Rae Lair to approve the Pop-Up Benefit that was paid for in the 10.1.203 Actuarial Report SECOND: Todd Neal PASSED UNANIMIOUSLY 5.2 Ordinance 2022-027 This item was tabled at the last meeting on January 13, 2025 The plan’s attorney, Pedro Herrera has since sent an email to the city attorney pointing out the possible scrivener error in Ordinance 2022-027 where survivor annuitants were mistakenly excluded despite the actuarial impact statement and City Attorney draft having them included in the benefit. In the original ordinance that had passed between Attorney Herrera’s office and the plan’s actuary, Dina Lerner the then current joint annuitants or beneficiaries were included to receive the additional benefit February 24, 2025 Page 3 of 5 of $416.67 starting on 10.1.2022. In reviewing the ordinance for another item, it was found that such beneficiaries were not included in the ordinance. Attorney Herrera sent this information to the City Attorney. This item is tabled until notice from the City Attorney. Another item was discussed referring to this same ordinance that was also tabled at the previous meeting. Fire retiree spouse Debbie Zidar attended the meeting on January 13, 2025 with her 2 adult children inquiring why when a retiree dies the $416.67 benefit is stopped. Her husband fire retiree Matt Zidar had passed away in December 2024 and the $416.67 benefit was stopped as of January 1, 2025. Debbie Zidar was the surviving spouse and as the 100% Joint & Survivor form of benefit was the elected, she felt that she continued to be eligible for it was explained that when the ordinance was drafted the intent was solely to make this additional retirement benefit available for the life of the person initially receiving the benefit as anything more than that was valued as too expensive back when it was enacted and the City would not fund it. This item is tabled until an impact statement is prepared by actuary Dina Lerner to address the cost of continuing to pay the benefit for all survivor annuitants as well. VI. NEW BUSINESS 6.1 Dahab Associates – December 31, 2024 Performance Steve Roth Dahab Associates reviewed with the trustees the plan’s December 31, 2024 earnings. The net of fees return was -0.5 for the quarter October 1, 2024 to December 31, 2024. MOTION by Rae Lair to accept the December 31, 2024 Performance as prepared by Dahab Associates. SECOND: Patrcia Fuccile PASSED UNANIMIOUSLY 6.2 Eric Leventhal-Audited Financial Statement-September 30, 2024 and Management Representation Letter Eric Leventhal of the accounting firm Kabat, Schertzer, De La Torre, Taraboulos & Co, LLC reviewed with the Board his firms’ report on the Audited Financial Statements for the Plan for fiscal year ending September 30, 2024. Eric Leventhal gave a clean or unmodified opinion on the plan’s financial statements. The GASB 67 report was not ready when tonight’s Financial Statements were printed. He will incorporate the GASB 67 report when he receives additional information from the plan’s actuary, Gabriel, Roeder, Smith & Company, although he does not suspect the results will vary in a material way. He will then give updated final copies. The following changes were to be made: page 9 Notes February 24, 2025 Page 4 of 5 Receivable total; page 10 the Buybacks total and Drop benefits total; page 22 & 23 GASB 67. MOTION by Todd Neal to approve the September 30, 2024 Audited Financial Statements that were prepared by Eric Leventhal of the accounting firm Kabat, Schertzer, De La Torre, Taraboulos & Co, LLC subject to the addition of the GASB 67 report and previous noted changes SECOND: Patricial Fuccile PASSED UNANIMIOUSLY MOTION by Todd Neal to authorize Chairman Larry Rogers to sign the management representation letter. SECOND: Patricia Fuccile PASSED UNANIMIOUSLY 6.3 Share Account Vice Chairman Todd Neal introduced the subject of a Share Plan for the retired fire fighters that would replace the current benefit of the 1/3 health insurance premium subsidy that is currently being paid by the Chapter 175 premium tax. Attorney Herrera discussed with the trustees that the share plan has already been set up and that we need to look further into it as such would likely require amendment to the mutual consent agreement entered into by the members and the City MOTION by Rae Lair to explore the share plan and its effect on the fire retirees. SECOND: Patricial Fuccile PASSED UNANIMIOUSLY 6.3 Budget This item was tabled until the next meeting. 6.4 Women’s Club Chairman Larry Rogers opened discussion with the trustees regarding using space in the Dania Beach Women’s Club clubhouse for 2 years. He suggested giving a check to the Dania Beach Women’s Club for $5000.00 representing $2500.00 per year. The trustees all agreed to make the commitment and the attorney advised that it was a reasonable expense. MOTION by Patricia Fuccile to give the Dania Beach Women’s Club $5000.00 for the use of the clubhouse. SECOND by Rich Sieb PASSED UNANIMIOUSLY VII. CORRESPONDENCE VIII. RETIREMENTS / TERMINATIONS February 24, 2025 Page 5 of 5 IX. OPEN DISCUSSION AND INFORMATION 9.1 Attorneys Report 9.2 FPPTA 41st Annual Conference June 22-25, 2025 The 41th Annual Conference of the FPPTA will be held June 22-25th, 2025 at the Omni Champions Gate, Orlando, Florida MOTION by Rae Lair to approve the trustee’s attendance at the FPPTA 41th conference in accordance with the trustee travel guidelines. SECOND by Todd Neal PASSED UNANIMIOUSLY X. ADJOURN MOTION by Richard Tarrant to adjourn meeting. SECOND: Dean Harley Meeting adjourned at 8:02 PM. ANY PERSON WHO DECIDES TO APPEAL ANY DECISION MADE WITH REGARD TO ANY MATTER CONSIDERED AT THIS MEETING OR HEARING WILL NEED A RECORD OF THE PROCEEDING, AND FOR SUCH PURPOSE MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDING IS MADE WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED. IN ACCORDANCE WITH THE AMERICANS WITH DISABILITIES ACT, PERSONS NEEDING ASSISTANCE TO PARTICIPATE IN ANY OF THESE PROCEEDINGS SHOULD CONTACT THE ADMINISTRATOR AT EITHER EMAIL: pfpens@gmail.com or PHONE (954) 393-9061AT LEAST 48 HOURS PRIOR TO THE MEETING.