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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
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MINUTES
MARCH 19, 2007
REGULAR MEETING
I. CALL TO ORDER
MOTION: by Beulah Lair call the meeting to order.
SECOND: Vince Marlin
PASSED UNANIMOUSLY
Meeting began at 7:40 PM
MEMBERS PRESENT: MEMBERS ABSENT:
Chairman Larry Rogers Commissioner Anne Castro
Vice Chairman Vince Marlin Wardell Lee
Secretary Beulah Lair
John Williamson
Ted Spongross
Carolyn Jones
Butch Bolton
ALSO PRESENT:
Attorney Robert Sugarman - Sugarman &Susskind, PA
Attorney Pedro Herrera-Sugarman &Susskind, PA
Steve Palmquist— Gabriel, Roeder, Smith
II. APPROVAL OF MINUTES
MOTION: by Vince Marlin to accept minutes from the February 19, 2007
meeting as submitted.
SECOND: Beulah Lair
PASSED UNANIMOUSLY
March 19, 2007
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III. CONSENT AGENDA
No items listed on the Consent Agenda
IV. OLD BUSINESS
V. NEW BUSINESS
5.1 September 30, 2006 Actuarial Valuation
Mr. Stephen Palmquist of Gabriel, Roeder, Smith &Company
reviewed and distributed in writing the highlights of the actuarial
valuation performed by his firm on the plan for fiscal year ending
September 30, 2006. Mr. Palmquist then reviewed with the Board
the Chapter 175 benefit reserve. There were no COLA's
available this year.
This item was tabled until the next Board Meeting
VI. CORRESPONDENCE
VII. NEW EMPLOYEE APPLICATIONS
VIII. RETIREMENTS / TERMINATIONS
IX. OPEN DISCUSSION AND INFORMATION
9.1 American Realty Advisors
Chairman Rogers opened discussion with Board in reference
to the second capital call for American Realty Advisors for
April 2, 2007 for $500,000.00. Per Mike Welker of
Bogdahn Consulting the funds will be raised from
Voyageur Asset Management Large Cap Value Portfolio.
9.2 State Report
Chairman Rogers opened discussion with the Board stating
that the first DRAFT of the State Report has been received
by this office for review. Once Page 6A—information from
our actuary has been completed the State Report will be
ready for signature and mailed to the State.
9.3 FPPT Trustees School
Chairman Rogers stated that there is a FPPTA Conference to
be held from June 24-27, 2007 at The Naples Grand.
MOTION by Vince Marlin to approve expenses for any Trustee
wishing to attend the FPPTA Conference June 24-27, 2007 at
The Naples Grand in accordance set forth in the Trustee Travel
Guidelines.
SECOND: Carolyn Jones
March 19, 2007
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9.4 Dania Firefighters and the BSO
Secretary Beulah Lair questioned Attorney Sugarman in
reference to the City of Dania Beach firefighters joining
the Broward Sheriff's Office. The impact on our pension
plan was discussed with Attorney Sugarman and
the Board of Trustees.
X. ADJOURN
MOTION by Vince Marlin to adjourn meeting
SECOND: Beulah Lair
Meeting adjourned at 9:14 PM