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CITY OF EDGEWATER
GENERAL EMPLOYEES' PENSION BOARD OF TRUSTEES QUARTERLY MEETING
CITY HALL CONFERENCE ROOM
104 N. Riverside Drive, Edgewater, Florida 32132
Edgewater, Florida 32132
AGENDA
Wednesday, June 10,2009 - 11:00 A.M.
Pursuant to Chapter 286, F.S., if an individual decides to appeal any decision made with respect to any matter considered at a meeting or
hearing, that individual will need a record of the proceedings and will need to insure that a verbatim record of the proceedings is made. In
accordance with the Americans with Disabilities Act, persons needing assistance to participate in any of these proceedings should contact
City Clerk Bonnie Wenzel, 386-424-2400, Ext# 1101, prior to the meeting.
I. CALL TO ORDERlROLL CALUDETERMINATION OF A QUORUM - Welcome
new trustee, Council Member Gigi Bennington
ELECTION OF OFFICERS
II. APPROVAL OF MINUTES - Quarterly Meeting - March 16, 2009
ill. NEW BUSINESS
1. Consideration! Approval of Summary Plan Description from Principal
2. Principal contract amendment (November 2008) for approval/execution (deferred
from March 16, 2009 meeting)
3. Discussion: impact of claim filed by Liz McBride
IV.
REPORTS (ATIORNEY/CONSULTANTS)
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1. The Bogdahn Group, Performance Consultant
. Quarterly report - March 3 1, 2009
. Discussion: custodians, investment managers, etc., that may be used when the
plan is "unbundled" from Principal.
2. Foster & Foster, Actuary
. Presentation: 2008 valuation
3. H. Lee Dehner, Plan Attorney
4. Sheila Hutcheson, Plan Administrator
. Update on IRS filings and ratification of two amendments filed with response
to IRS questions on the qualification submittal
. Discussion: Review of Principal Plan Document provision for member
contribution refund with reduced retirement benefit (related to retirement
calculation issues)
. Authorization for Attorney Dehner to prepare forms for the plan
. Schedule pension boards' joint workshop meeting
. Submittal of plan restatement/amendments to City Council for adoption by
reference
V.
PROCESSED DISBURSEMENTS/RETURN OF CONTRIBUTIONS & DEPOSITS
DISBURSEMENTS
I. Sheila Hutcheson, plan administration fees (March - May, 2009) -$2700.00
($900/month); postage/mileage expense - $3.44
2. Christiansen & Dehner, professional legal fees, $290.00; $1797.79
3. The Bogdahn Group, performance consultant fees, 1st quarter, 2009 - $2500.00
4. Foster & Foster, Actuary, Invoice dated April 27, 2009 - $17188.00
5. Processed normal retirement for Roy Jones (former employee), joint and 100%
survivor option effective April I, 2009 - $156.58/month
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CITY OF EDGEW ATER
GENERAL EMPLOYEES' PENSION BOARD OF TRUSTEES QUARTERLY MEETING
CITY HALL CONFERENCE ROOM
104 N. Riverside Drive, Edgewater, Florida 32132
AGENDA
Wednesday, June 10,2009 -11:00 A.M.
Page 2
6. Processed early retirement for William Frazier (former employee), joint and 100%
survivor option to be effective July 1,2009 - $238.91/month
7. Processed normal retirement for Beverly Kinney-Johnson (former employee),
lifetime option effective June 1,2009 - $707.94/month
8. Processed normal retirement for employee Don Bowling, joint and 100% survivor
option to be effective July 1, 2009 - $1,502.86/month
9. Processed retroactive adjustment ($18,009.64) and increase in monthly retirement
benefit to $2,237.94 as of May 1,2009 for Liz McBride (based on outcome of her
appeal on March 16, 2009)
DEPOSITS
None
VI. STAFF REPORTS, DISCUSSION, AND ACTION
VII. TRUSTEES' REPORTS, DISCUSSION, AND ACTION
VIII.
REQUESTS FROM THE PUBLICIEMPLOYEES PRESENT
IX. ADJOURNMENT