HomeMy WebLinkAbout2012-02-13 Police & Fire Pension Board Minutes
City of Dania Beach
Police and Fire Fighters Retirement System 113 S.W. 1 Street
Dania Beach, Florida 33004 Phone: (954) 921-0404 Fax: (954) 921-1403
E-mail: PFPENS@bellsouth.net
Page 1 of 2 MINUTES
FEBRUARY 13, 2012
REGULAR MEETING
I. CALL TO ORDER
The meeting was called to order by Chairman Rogers at 6:10 PM
MEMBERS PRESENT: MEMBERS ABSENT:
Chairman Larry Rogers Secretary Vince Marlin
Vice Chairman Ted Spongross
Roger Handevidt
Todd Neal Mayor Pat Flury
Carolyn Jones
Wardell Lee
ALSO PRESENT:
Ken Harrison - Sugarman & Susskind, PA
Mike Welker & Jon Breth – The Bogdahn Group II. APPROVAL OF MINUTES
MOTION: by Roger Handevidt to accept minutes from the January 9, 2012
meeting as submitted.
SECOND: Mayor Pat Flury
PASSED UNANIMOUSLY
III. CONSENT AGENDA No items listed on the Consent Agenda IV. OLD BUSINESS
February 13, 2012
Page 2 of 2
V. NEW BUSINESS 5.1 Bogdahn Consulting - 4th Quarter 2011 Performance Summary
Mike Welker then reviewed the Fund’s total performance
summary for the quarter ending December 31, 2011. The total fund
portfolio return(net of fees)for quarter ending December 31, 2010 was
+6.67. The total fund policy is 6.73 with the difference of -.06.
5.2 New Consultant Review Chairman Rogers opened discussion with the trustees in reference to the
materials they received and reviewed for seven pension investment
consultants. The consultants that were reviewed were Southeastern
Advisory Services, Thistle Asset Consulting, Graystone Consulting, Gray &
Company, Dahab Associates, Cafaro Greenleaf and Burgess Chambers &
Associates. This item was tabled until the next trustee meeting on
March 19, 2012 for further review.
VI. CORRESPONDENCE
VII. RETIREMENTS / TERMINATIONS VIII. OPEN DISCUSSION AND INFORMATION
8.1 Attorneys Report Attorney Ken Harrison discussed the possible changes to pension plans
in the state of Florida with House Bill 365 and Senate Bill 910 and the IRS
Determination Letter Update.
8.2 Actuarial Report has been delayed due to discrepancies between the plans actuary, Steve Palmquist and the plans accountant, Steven Gordon.
The financials are being changed by Steven Gordon.
8.3 Meeting Time
Meeting time is presently 6:00 pm. Discussion took place to change the
meeting time to 7:00 pm. The trustees decided to keep the trustee
meetings at 6:00 p.m.
8.4 Office Phone The office phone has been disconnected and the cell phone number
954-393-9061 is the permanent phone number for the office.
IX. ADJOURN
MOTION by Roger Handevidt to adjourn meeting
SECOND: by Mayor Pat Flury
Meeting adjourned at 7:30 PM