01-05-2011 - Joint Special General Employees' and Police Pension Boards of Trustees
Minutes - Joint Special Meeting
January 5, 2011
Page 1 of 3
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CITY OF EDGEWATER
GENERAL EMPLOYEES' and POLICE OFFICERS' PENSION BOARD OF TRUSTEES
JOINT SPECIAL MEETING
CITY HALL COUNCIL CHAMBER
104 N. Riverside Drive, Edgewater, Florida 32132
Wednesday, January 5, 2011
11:00 a.m.
MINUTES
CALL TO ORDER/ ROLL CALL/DETERMINATION OF A QUORUM
The Edgewater General Employees' and Police Officers' Pension Boards held a special meeting on
Wednesday, January 5, 2011 in the City Hall Council Chamber at the City of Edgewater, Florida.
Members Present (General): Tyna Hilton
John Brackin
Tim Sopko
John McKinney
Bobby Laramore
Brenda Dewees
Gigi Bennington
Members Absent (General): None
Now
Members Present (Police): Dan Blazi
Gary Conroy
Lawrence Leaf
Ferd Heeb
Vincent McCauley
Members Absent (Police): None
Plan Attorney: H. Lee Dehner
Milberg Attorneys: Anita Kartalopoulos (by telephone)
Ariana Tadler (by telephone)
Roland Riggs (by telephone)
Andre Rado (by telephone)
Christopher Polaszek
City Attorney: Aaron Wolfe
Performance Consultant: Jack Evatt, The Bogdahn Group (by telephone)
Plan Administrator: Sheila Hutcheson
Plan Actuary: Brad Heinrichs, Foster & Foster
Attorney: Darrell Brock
City Staff: Donna Looney, Personnel Director
Tracey Barlow, City Manager
The special meeting of the General Employees' and Police Officers' Boards of Trustees was called to
* order at 11:00 a.m. by Vice - Chairman Dewees and Chairman Blazi. Both Boards had a quorum.
Chairman Bennington arrived at 11:35 a.m.; Member Leaf arrived at 11:20 a.m.; and Member Conroy
arrived at 12:00 noon.
General Employees' and Police Pension Boards of Trustees
Minutes - Joint Special Meeting
January 5, 2011
Page 2 of 3
Discussion: Issues with Principal (Milberg LLP and other consultants)
The first issue discussed was for the General Employees' Plan and related to Retiree Liz McBride's
estoppel issue. Attorney Dehner introduced Attorney Darrell Brock who has reviewed the file and
would represent the Board in collecting the $100,000+ calculated by the Actuary as the damages
resulting from Principal's error in this case. Discussion ensued among the Board members and the
Attorneys regarding the case, strategy, cost, etc.
Member McKinney made a motion for to authorize Attorney Dehner to prepare a contract (for
execution by the Board) to retain Attorney Darrell Brock for action against Principal in the Retiree
Liz McBride estoppel issue; Member Hilton seconded the motion, which passed unanimously.
The next item of discussion was with Milberg attorneys. Attorney Polaszek said several of Milberg's
attorneys were attending by telephone: Attorneys Kartalopolous, Tadler, Rado, and Riggs, as will The
Bogdahn Group.
Attorney Polaszek and Actuary Brad Heinrichs summarized relevant information for the Boards
regarding the issues with Principal and potential actions in this regard.
Police Board:
Member Heeb made a motion to retain Milberg for representation in mediation with Principal
tire contingent upon successful negotiation of a retainer agreement and to authorize execution of the
agreement; Member Leaf seconded the motion which passed unanimously on a roll call vote.
General Employees' Board:
Member McKinney made a motion to retain Milberg for representation in mediation with Principal
contingent upon successful negotiation of a retainer agreement and to authorize execution of the
agreement; Member Laramore seconded the motion which passed unanimously.
The next item of discussion was the letter of termination from Principal dated November 30, 2010
received by each Board. Since both the Boards and consultants are unsure what the letters mean, it
was decided that letters should be sent to Principal asking for clarification.
Police Board:
Member Heeb made a motion to send Principal a certified letter asking for clarification as to the
specifics of what services Principal will provide and the procedures they will follow, requesting a
response within five business days of receipt of the Board's letter; Member McCauley seconded the
motion, which passed unanimously on a roll call vote.
General Employees' Board:
Member McKinney made a motion to send Principal a certified letter asking for clarification as to the
specifics of what services Principal will provide and the procedures they will follow, requesting a
141iss,, response within five business days of receipt of the Board's letter; Member Dewees seconded the
motion, which passed unanimously.
The next item of discussion was the Investment Questionnaires from Principal which has been
General Employees' and Police Pension Boards of Trustees
Minutes - Joint Special Meeting
January 5, 2011
Page 3 of 3
deferred from December 13, 2010 quarterly meetings. Both Boards declined to take any action in this
regard.
STAFF REPORTS, CONSULTANTS' REPORTS, DISCUSSION /ACTION - None.
TRUSTEES' REPORTS, DISCUSSION, AND ACTION/REQUESTS FROM THE
PUBLIC/EMPLOYEES PRESENT -
Chairman Blazi informed the Boards and attendees that Police Chief Bennett is retiring in March,
2011. Member Dewees advised that she will attend the FPPTA Trustees' School beginning January
30, 2011.
ADJOURNMENT
Police Board:
Member Heeb made a motion for adjournment, which was seconded by Member McCauley; the
motion passed unanimously. The Police Board meeting adjourned at 12:50 p.m.
General Employees' Board:
Vice - Chairman Dewees made a motion for adjournment, which was seconded by Member Hilton; the
fir► motion passed unanimously. The General Employees; Board meeting adjourned at 12:55 p.m.
Respectfully Submitted: Approved:
6 Vid‘r
Sheila Hutcheson Dan Blazi, hairman
Plan Administrator Police Officers' Pension Board
Approved:
„ L hairman Vice
D General Employees' Pension Board