09-26-2018CITY OF EDGEWATER
GENERAL EMPLOYEES' PENSION BOARD
QUARTERLY MEETING MINUTES
City Hall Council Chambers
Wednesday, September 26, 2018 at 10:30AM
TRUSTEES PRESENT: Bridgette King
Brenda DeWees
Tim Sopko
Tyna Hilton
Wayne Nichols
TRUSTEES ABSENT: None
OTHERS PRESENT: Bonni Jensen, Klausner, Kaufman, Jensen & Levinson (via
phone)
Julie Christine, Director, Human Resources, City of Edgewater
Ferrell Jenne, Foster & Foster
Michelle Rodriguez, Foster & Foster
1. Call to Order — Brenda DeWees called the meeting to order at 10:41 a.m_
2. Roll Call — As reflected above.
3. Public Comments — None.
4. Approval of Minutes
The board voted to approve the minutes from the Jul 13 2018quarterly meeting as
resented upon motion bV Bridgette King and second from Tim So ko motion carried 4-
0.
5. New Business
a. New IOUs= board member, Wayne Nichols
i. Brenda DeWees welcomed Wayne Nichols to the board of trustees as
the new IOUE board member.
b. Election of Officers
i. Brenda DeWees request the board to table the election of officers until
Tyna Hilton arrived.
Old Business - None.
Reports
a. Klausner, Kaufman, Jensen, Levinson, Bonni Jensen, Plan Attorney
i_ Amendment 6 memo
1. Bonni Jensen reviewed the possible impact of Amendment 6 on
the board. Bonni Jensen commented the amendment contains
several unrelated proposals that had been bundled together, and
she was making the board aware of the section that would most
affect the board_ Bonni reviewed section 21 of the amendment;
Judicial Interpretation of Statutes and Rules. Bonni commented
that if passed, this section would no longer require a state court
to defer to an administrative agency's interpretation of a statute
or rule, Bridgette King asked if only forfeitures would be
impacted. Bonni commented that in reading the proposed
amendment it did not seem to be limited to forfeiture rulings.
Bonni commented that police and fire pension boards were more
likely to be affected by Amendment 6 since they were required to
abide by a greater number of state statutes than general pension
boards.
Tyna Hilton arrived at 10.-47 a.m.
8. Consent Agenda
a. Ratification of Warrants
i. Warrant #38 and #39
b. New invoices for payment approval
i. Warrant #40
c. Fund Activity Report for July 7, 2018 —September 19, 2018
The board voted to approve the consent agenda as presented, upon motion by Bridgette
King and second bV Tim Sopko, motion carried 5-0.
d. Brenda DeWees asked if there were any nominations for the election of officers.
e. The board discussed the current Chairperson and Secretary designations.
The board voted to reappoint Brenda DeWees as the Chairperson and Tim Sopko as the
Secretary upon motion by Bridgette King and second by Tim Sopko, motion carried 5-0.
Staff Reports, Discussion, and Action
f. Foster & Foster, Ferrell Jenne, Plan Administrator
i. Upcoming educational opportunities
1. Ferrell Jenne reviewed upcoming educational opportunities.
Ferrell commented education should be once per term. If the
trustees are not able to attend conferences, the board attorney
and investment consultant were able to conduct educational
seminars at the convenience of the board.
2. There followed a discussion of the merits of conducting in house
seminars. Bonni Jensen commented although there were no
mandatory educational requirements for trustees, they are
encouraged to attend an educational session at least once per
term.
3. Ferrell Jenne commented the board's Operating Rules and
Procedures require some type of education once per term but
did not specify the format of the education.
4. Tim Sopko asked how many participants were currently in the
plan_ Ferrell Jenne commented there are 2 active employees
and approximately 80 terminated vested participants in the plan.
9. Trustee Reports, Discussion, and Action — None.
10_ Adjournment — The meeting adjourned at 10:58 a.m.
11. Next Meeting — December 11, 2018, at 10:30 a.m.
Respectfully
submitted by: Approved by:
Name: Michelle Rodri z Name: Brenda DeWees
Title: Plan Administrator Title: Chairperson
Date Approved by the Pension Board: f/
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