HomeMy WebLinkAbout2014-05-19 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) 393-9061
E-mail: PFPENS@gmail.com
MINUTES
MAY 19, 2014
I. CALL TO ORDER The meeting was called to order at 7:12 p.m.
MOTION by Carolyn Jones
SECOND: Roger Handevidt
PASSED UNANIMIOUSLY
MEMBERS PRESENT: MEMBERS ABSENT:
Rae Sandler Wardell Lee
Secretary Vince Marlin Vice Chairman Todd Neal
Roger Handevidt Chairman Larry Rogers
Carolyn Jones Mayor Walter Duke Todd Lleras
ALSO PRESENT:
Pedro Herrera - Sugarman & Susskind, PA
Cathy David – Administrator
Greg McNeillie & Steve Roth – Dahab Associates
II. APPROVAL OF MINUTES
MOTION by Carolyn Jones to accept the minutes from the
April 21, 2014 regular meeting as submitted.
SECOND: Rae Sandler
PASSED UNANIMIOUSLY
III. PUBLIC COMMENT
The floor was open and no public comment.
IV. CONSENT AGENDA No items listed on the Consent Agenda
Page 2 of 3
V. OLD BUSINESS
5.1 Barings Asset Management
Greg McNeillie discussed with the trustees the international portion
of the plan that Barings currently holds. This item has been
previously tabled to see if Barings earnings improved. Greg
McNeillie and Steve Roth recommended moving the Barings portion
of the plan to a passive investment – Vanguard International Index
Mutual Fund. This mutual fund would be easy to get in and out of
and save the plan the 85 basis points in investment management
fees that were being paid each quarter.
MOTION by Carolyn Jones to move the Barings portion of the
plan’s assets to Vanguard International Index Fund as
recommended by Dahab. SECOND: Roger Handevidt
PASSED UNANIMIOUSLY
VI. NEW BUSINESS 6.1 Greg McNeillie reviewed with the trustees the plan’s March 31, 2014
earnings. The net of fees return was +.8 for the quarter. The return net of fees for the fiscal year to date October 1, 2013 to March 31, 2014
is +6.9
6.1 Division of Retirement Annual Rate of Return Letter The yearly rate of return letter was prepared to send to the
Division of Retirement. MOTION by Carolyn Jones to file the expected rate of return letter
with the Division of Retirement SECOND: Rae Sandler
PASSED UNANIMIOUSLY
Page 3 of 3
VII. CORRESPONDENCE
VIII. RETIREMENTS/TERMINATION
IX. OPEN DISCUSSION AND INFORMATION
9.1 Attorneys Report Legislative Report
Attorney Herrera discussed with the trustees the pension bills that
were open in Tallahassee. The legislative session is now closed
and none of the pension bills that were filed passed. Attorney
Herrera reminded the Board to file their financial disclosure forms
with the Supervisor of Elections office in the county where they
each resided which may not necessarily be the same as where they
work. The Form 1 was due by July 1 and with the new law that
passed last year, the state may now garnish wages to collect
unpaid levies/fines assessed as a result of filing late.
9.2 FPPTA Conference Orlando June 29-July 2, 1014
The FPPTA 30th Anniversary Conference is being held June 29 thru
July 2, 2014 at the Hilton Orlando Bonnet Creek MOTION by Carolyn Jones to approve expenses for any trustee
wishing to attend the 30th Anniversary Conference at the Hilton
Orlando Bonnet Creek June 29-July 2, 2014
SECOND: Roger Handevidt PASSED UNANIMIOUSLY
9.3 March 31, 2014 Balance Sheet & Profit & Loss
The trustees were given the March 31, 2014 Balance Sheet and
Profit & Loss
X. ADJOURN
MOTION by Rae Sandler to adjourn meeting at 8:17 pm
SECOND: Carolyn Jones
PASSED UNANIMIOUSLY