Loading...
03-19-2012 1 ' CITY OF EDGEWATER GENERAL EMPLOYEES' PENSION BOARD OF TRUSTEES QUARTERLY MEETING CITY HALL CONFERENCE ROOM 104 N. Riverside Drive, Edgewater, Florida 32132 AGENDA Monday, March 19, 2012 - 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 ORDER/ROLL CALL/DETERMINATION OF A QUORUM II. APPROVAL OF MINUTES - December 12, 2011 Quarterly Meeting III. NEW BUSINESS /OLD BUSINESS W. REPORTS (ATTORNEY /CONSULTANTS) 1. Foster & Foster, Actuary • Presentation: October 1, 2011 Actuarial Valuation • Declaration of returns 2. The Bogdahn Group, Performance Consultant • Quarterly report - December 31, 2011 • Discussion: investment options with Principal; rebalancing of assets 3. H. Lee Dehner, Plan Attorney • Legislative update • Status Report - Issues with Principal 4. Sheila Hutcheson, Plan Administrator • Linda Moore • Tax withholding on after -tax member refunds in conjunction with retirement V. PROCESSED DISBURSEMENTS/RETURN OF CONTRIBUTIONS/DEPOSITS DISBURSEMENTS 1. Sheila Hutcheson, plan administration fees - $4,500.00 ($1500 /month); mileage expense - $11.10 2. Christiansen & Dehner, professional legal fees, $1,058.16, $270.40 3. The Bogdahn Group, performance consultant fees, 4 quarter, 2012 - $3,625.00 4. FPPTA membership renewal for 2012 - $600.00 5. Charles Winn, commencement of normal retirement as of Dec. 1, 2011 - retiree's lifetime with 100% survivor option, with member contribution refund 6. Christi Moeller, commencement of early retirement as of Feb. 1, 2012 - retiree's lifetime with 100% survivor option, with member contribution refund 7. Karen Rickelman (terminated, vested membet), commencement of late retirement as of Feb. 1, 2012 - retiree's lifetime with first 180 payments guaranteed 8. Principal, GASB 40 statement - $150.00 (deducted from assets) 9. Foster & Foster, actuarial services - $20,319.00 DEPOSITS - None VI. STAFF REPORTS, DISCUSSION, AND ACTION VII. TRUSTEES' REPORTS, DISCUSSION, AND ACTION VIII. REQUESTS FROM THE PUBLIC/EMPLOYEES PRESENT IX. ADJOURNMENT CITY OF EDGEWATER GENERAL EMPLOYEES' PENSION BOARD OF TRUSTEES QUARTERLY MEETING CITY HALL CONFERENCE ROOM 104 N. Riverside Drive, Edgewater, Florida 32132 AGENDA Monday, March 19, 2012 - 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 ORDER/ROLL CALL/DETERMINATION OF A QUORUM II. APPROVAL OF MINUTES - December 12, 2011 Quarterly Meeting III. NEW BUSINESS /OLD BUSINESS IV. REPORTS (ATTORNEY /CONSULTANTS) 1. Foster & Foster, Actuary • Presentation: October 1, 2011 Actuarial Valuation • Declaration of returns 2. The Bogdahn Group, Performance Consultant • Quarterly report - December 31, 2011 • Discussion: investment options with Principal; rebalancing of assets 3. H. Lee Dehner, Plan Attorney • Legislative update • Status Report - Issues with Principal 4. Sheila Hutcheson, Plan Administrator • Linda Moore • Tax withholding on after -tax member refunds in conjunction with retirement V. PROCESSED DISBURSEMENTS/RETURN OF CONTRIBUTIONS/DEPOSITS DISBURSEMENTS 1. Sheila Hutcheson, plan administration fees - $4,500.00 ($1500 /month); mileage expense - $11.10 2. Christiansen & Dehner, professional legal fees, $1,058.16, $270.40 3. The Bogdahn Group, performance consultant fees, 4 quarter, 2012 - $3,625.00 4. FPPTA membership renewal for 2012 - $600.00 5. Charles Winn, commencement of normal retirement as of Dec. 1, 2011 - retiree's lifetime with 100% survivor option, with member contribution refund 6. Christi Moeller, commencement of early retirement as of Feb. 1, 2012 - retiree's lifetime with 100% survivor option, with member contribution refund 7. Karen Rickelman (terminated, vested membet), commencement of late retirement as of Feb. 1, 2012 - retiree's lifetime with first 180 payments guaranteed 8. Principal, GASB 40 statement - $150.00 (deducted from assets) 9. Foster & Foster, actuarial services - $20,319.00 DEPOSITS - None VI. STAFF REPORTS, DISCUSSION, AND ACTION VII. TRUSTEES' REPORTS, DISCUSSION, AND ACTION VIII. REQUESTS FROM THE PUBLIC/EMPLOYEES PRESENT IX. ADJOURNMENT SHEILA HUTCHESON 3860 GRANTLINE ROAD MIMS, FL 32754 321 - 298 -6619 Dec. 12, 2011 Bill to: The Principal P.O. Box 9394 Des Moines, IA 50306 -9394 VIA EMAIL TO: TONYA NIDA Y Reference: City of Edgewater General Employees' Pension Plan (Annuity Contract #: 4- 29487) Statement for Plan Administration Expenses - quarter ending December 31, 2011 Description Amount Mileage (Board's share: Dec. 12, 2011 meeting) $ 11.10 TOTAL: $ 11.10 Please mail check in the amount of $1,511.10 (monthly fee and quarterly expenses) to: MS. SHEILA HUTCHESON 3860 GRANTLINE ROAD MIMS, FL 32754 SHEILA HUTCHESON 3860 GRANTLINE ROAD MIMS, FL 32754 321 - 298 -6619 December 12, 2011 The Principal P.O. Box 9394 Des Moines, IA 50306 -9394 VIA EMAIL TO: TONYA NIDA Y Reference: City of Edgewater Edgewater General Employees' Pension Plan (Annuity Contract #: 4- 29487) Plan Administration Service, beginning with the payment on January 1, 2012, and the first day of each month thereafter, as approved by the Pension Board at the Dec. 12, 2011 meeting, will be $1,500 /month. Monthly payments are to be made by direct deposit instructions on file. 3 4/1 4wilt,ank 70.00)1 y cjejL PJAS 6t l j , f,�, �// C � From: Sheila Hutcheson <shutch9750 @aol.com> To: niday.tonya <niday.tonya @principal.com >; fredricks.jill <fredricks.jill @principal.com> Subject: Edgewater Plans - Invoices for Payment Date: Tue, Jan 3, 2012 7:46 pm Attachments: Dec._2011_Gen.pdf (28K), Dec._2011_Police.pdf (29K) Jill, Tonya, Tonya, Attached are invoices for payment, as follows: Christiansen & Dehner, P.A. 1,058.16 - Genera Christiansen & Dehner, P.A. - $1,058.16 - Police Please mail the checks to the address on the statements. Thank you for your prompt processing of these invoices. Please contact me if you have any questions or need any additional information. Sheila Hutcheson Pension Plan Administrator 3860 Grantline Road Mims, FL 32754 321 - 267 -3082 321 - 267 -4728 (facsimile) shutch9750@aol.com of 1 1/4/2012 2:52 PM Christiansen & Dehner, P. A. 63 Sarasota Center Boulevard Suite 107 Sarasota, FL 34240- 941 -377 -2200 941- 377 -4848 Phone Fax December 31, 2011 City of Edgewater General Employees' Pension Plan CIO Sheila Hutcheson 3860 Grantline Road Mims, FL 32754 Invoice Number • 'In Reference To Edgewater General Employee's 0615 20605 Pension Plan Professional Services Hours Amount 12/7/20111 Preparation of response to auditor. 0.30 101.40 12/8/2011 Conference call with C. Polaszek, City Attorney and R. Riggs. 0.60 202.80 12/12/2011 Preparation and attendance at Board Meeting. 1.20 405.60 Travel Time 1.50 253.50 For professional services rendered - 3.60 $963.30 Additional Charges : Qty 12/7/2011 Copies 1 0.25 Postage 1 0.22 12/12/2011 Car Expense 1 44.55 Food Expense 1 13.50 Hotel Charge 1 36.34 Total additional charges $94.86 Total amount of this bill $1,058.16 Balance due .$1,058.16 i UgC WdLC1 r ia11J - 111vuI ..GJ Subject: Edgewater Plans - Invoices From: Sheila Hutcheson <shutch9750 @aol.com> Date: 2/10/2012 10:15 AM To: niday.tonya @principal.com, fredricks.jill @principal.com Tonya, JiII, Attached are invoices for payment, as follows: Christiansen & Dehner, P.A. - 0270.40 - General ) Christiansen & Dehner, P.A. - $270.40 - Police Please mail the checks to the address on the statements. Thank you for your prompt processing of these invoices. Please contact me if you have any questions or need any additional information. S heila Hutcheson Pension Plan Administrator 3860 Grantline Road Mims, FL 32754 321 - 267 -3082 321 - 267 -4728 (facsimile) shutch9750(7aaol.com — Attachments Feb. 2012 - Police.pdf 7.7 kB Feb. 2012 - Gen..pdf 25.6 kB 1 of 1 2/10/2012 10:16 AM Christiansen & Dehner, P. A. 63 Sarasota Center Boulevard Suite 107 Sarasota, FL 34240- 941 -377 -2200 941 - 377 -4848 Phone Fax January 31, 2012 City of Edgewater General Employees' Pension Plan C/O Sheila Hutcheson 3860 Grantline Road • Mims, FL 32754 Invoice Number In Reference To: Edgewater General Employee's 0615 20730 Pension Plan Professional Services Hours Amount 1/13/2012 Preparation for and telephone conference with City Attorney, Millberg Attorney and 0.40 135.20 Actuary. Telephone conference with S. Hutcheson. 0.20 67.60 1/18/2012 Conferences with S. Hutcheson and City Manager. 0.20 67.60 For professional services rendered • 0.80 $270.40 Previous balance $1,058.16 Accounts receivable transactions 1/13/2012 Payment - thank you. Check No. 16649717 ($1,058.16) Total payments and adjustments ($1,058.16) Balance due =270.40 "" Please note that the "Balance Due" figure at the end of this bill reflects both "Total New Charges - Current Period" and any previous balances due. In most cases, if the previous balance(s) have already been approved for payment but not yet received in our office, you should be paying only the "Total New Charges - for services and /or expenses" . Thank you. Please indicate account number(s) with payment. (Please Deduct any payments not reflected in Balance due) ... Y ., , ......... »..........., ..... ... ..., »... .. .... ...si aa.uau . a aaau. ay.s.ausv ..t.� From: Sheila Hutcheson <shutch9750 @aol.com> To: niday.tonya <niday.tonya @principal.com>; fredricks.jill <fredricks.jill @principal.com> Subject: Edgewater Plans - Invoices for payment Date: Fri, Dec 30, 2011 1:53 pm Attachments: 12- 31- 11_Police.pdf (163K), 12- 31- 11_Gen..pdf (164K) Attached are invoices for payment, as follows for Edgewater Police and General Plans: The Bogdahn Group - $3625.00 (Police) The Bogdahn up - $3625.00 (General Please mail the checks to the address on the statements. Thank you for your prompt processing of these invoices. Sheila Hutcheson Pension Plan Administrator 3860 Grantline Road Mims, FL 32754 321- 267 -3082 321 - 267 -4728 (facsimile) shutch9750 @aol.com of 1 3/18/2012 5:07 PM THE (Li BOGDAHN Invoice GROUP Date Invoice # 12/30/2011 7036 4901 Vineland Rd Suite 600 Orlando, FL 32811 Bill To Edgewater General Employee Pension Plan email - Sheila Hutcheson Description Amount Performance Evaluation and Consulting Services 3,625.00 10/1/2011-12/31/2011 Balance Due $3,625.00 iiugewdiei rictus - rdyinelll requests • Subject: Edgewater Plans - Payment Requests From: Sheila Hutcheson <shutch9750 @aol.com> Date: 12/12/2011 5:56 PM To: niday.tonya @principal.com, fredricks.jill @principal.com Dec. 12, 2011 Tonya, Jill, Attached are invoices for payment of my expenses for the quarter ending Dec. 31, 2011 (add to the checks for each plan's $1,500 monthly fees beginning as of the payment on Jan. 1, 2012 and each month therafter) as follows for Edgewater General and Police: Sheila Hutcheson. - Expense reimbursement - $11.10 (Generals- total Jan. check will be $1,511.10 Sheila Hutcheson. - Plan Administration Fees - $11.10 (Police) - total Jan. check will be $1,511.10 Please mail the checks to the address on the statements. Please note that my fees for each Plan will be $1,500 /month going forward as you issue my monthly checks on the first day of each month (see attached approvals by the Boards). I have also attached requests for payments to FPPTA, as follows: Police - Membership renewal for 2012 - $600.00 General - Membership renewal for 2012 - $600.00 Please mail the checks (with a copy of the attached renewal forms enclosed) to FPPTA to: FPPTA 2946 Wellington Circle East Tallahassee, FL 32309 Thank you for your prompt processing of these invoices. Please let me know if you need any additional information. Merry Christmas and Happy New Year to you both and your families. -- Sheila Hutcheson Pension Plan Administrator 3860 Grantline Road Mims, FL 32754 321 - 267 -3082 321 - 267 -4728 (facsimile) shutch9750 @aoi.com -- Attachments: scan0158_Partl.pdf 1.3 MB scan0158_Part2.pdf 723 kB of 1 12/12/2011 5:57 PM ASSOCIATION. TRUSTF.rs FPPTA Membership Renewal Receipt P P ENSION UBLIC F LORIDA Membership Year: 2012 Membership Type: Pension Boards Renewal Status: Confirmed Renewal Fee: $600.00 Organization Name: Edgewater GE Address: 104 N. Riverside Dr. Edgewater, FL 32132 Phone: (321) 267 -3082 Fax: E -mail: shutch9750 @aol.com Website: Confirmed On: 11/13/2011 11:33:38 AM By: Sheila Hutcheson Paid On: By: Payment Method: Check To Follow If you have paid for the renewal online at FPPTA.Org, you only need to keep this as your copy. If you are paying by check, please make your check payable to: Florida Public Pension Trustees Association (FPPTA) and then mail a copy of this receipt and your check to the address below: FPPTA 2946 Wellington Circle East Tallahassee, FL 32309 Phone: 800 - 842 -4064 Fax: 850-668-8514 Printed on: 11/13/2011 11:33 AM mt.. llIV GJLL11G11L L1JG1V JU1 GJ 11LLp./ / 111411.UV1.L.V11// ✓✓ 1 1 ✓- 111 / 4V1 - V1 VII 1 1 111L1V1L.JJUA5M.UJVA From: Niday, Tonya <Niday.Tonya @principal.com> To: John McKinney <jmckinney @CITYOFEDGEWATER.ORG> Cc: 'Sheila Hutcheson' <shutch9750 @aol.com> Subject: RE: Investment Disclosures Date: Thu, Feb 2, 2012 3:27 pm Attachments: GASB_General.pdf (16K), GASB_Police.pdf (16K) Here are the reports for both plans. The fee for is 515Qfor each plan. LwiPI deduct that from plan assets and will set up a reminder to have this done again as soon as the 09/30 numbers are final. Thanks! Tonya Niday 1 Client Service Manager 11 1 Principal Financial Group 1 PO Box 9394, Des Moines, IA 50306 -9394 1 Overnight: 710 9th Street, Des Moines IA 50309 -15021 Phone (515)246 -4969 (800)543 -4015 ext. 649691 Fax (866)704 -3481 1 niday.tonya@principal.com Securities offered through Princor Financial Services Corporation, Des Moines, Iowa 50392 -2080, (800) 247 -1737, member SIPC. Princor and Principal are members of the Principal Financial Group. From: John McKinney ( mailto :imckinnev@CITYOFEDGEWATER.ORG) Sent: Wednesday, January 25, 2012 9:37 AM To: Niday, Tonya Cc: 'Sheila Hutcheson' Subject: Investment Disclosures Tonya, Can you facilitate the GASB 40 statement for the Police and General Pensions at 9/30/11 for the audit note disclosure? Thanks Jonathan C. McKinney, CGFO Finance Director City of Edgewater 104 North Riverside Drive Edgewater Florida 32132 386.424.2400 opt 1 ext 1301 386.424.2409 Fax P Please consider the environment before printing this e-mail Message Disclaimer This e -mail message is intended only for the use of the individual or entity to which it is addressed, and may contain of 2 3/18/2012 5:14 PM t agewater rians - invoices ror payment Subject: Edgewater Plans - Invoices for payment From: Sheila Hutcheson <shutch9750 @aol.com> Date: 3/6/2012 7:52 PM To: niday.tonya @principal.com, "Broders, Kristi" <Broders.Kristi @principal.com> Tonya, Kristi, Attached are invoices for payment, as follows for Edgewater General and Police: Foster & Foster - Actuarial Services Fees - March 6, 201 20 319.00 (General Foster & Foster - Actuarial Services Fees - May 6, 2010 - $19,611.00 (Police) Please mail the checks to the address on the statements. Thank you for your prompt processing of these invoices. S heila Hutcheson Pension Plan Administrator 3860 Grantline Road Mims, FL 32754 321 - 267 -3082 321 - 267 -4728 (facsimile) shutch97500aol.com — Attachments: March 2012 - Police.pdf 149 kB Gen. March 2012.pdf 147 kB of 1 3/6/2012 7:53 PM Va l.I ( I VJ l.Cln� c. vu�VG Phone: (239) 433 -5500 Date Inv oice Fax: (239) 481 -0634 3/6/2012 2628 data @foster- foster.com Bill To City of Edgewater General Employee's Pension Fund 3860 Grantline Road Mims, FL 32754 Terms Due. Date Net 30 4/5/2012 Description \mount Benefit Calculations: MOELLER (3), ROACH, WINN, RICKELMAN, DEWEES (2) 1,600.00 October 1, 2011 Actuarial Valuation and Report; preparation of member certificates; Governmental 17,017.00 Accounting Standards Board disclosure information. Calculation of liabilities using the FRS interest rate (7.75 %) to comply with SB 1128. 1,702.00 Balance Due $20,319.00 Thank you for your business! Please make all checks payable to: Foster & Foster, Inc. 13420 Parker Commons Blvd, Suite 104 Fort Myers, FL 33912 nn. rauici.Lc 1 uuu. - uuscwaLci vciiciai - aiiu %_.1.11131-1 1'1uciici • Subject: RE: Paulette Tubbs - Edgewater General - and Christi Moeller From: "Niday, Tonya" <Niday.Tonya @principal.com> Date: 2/13/2012 11:08 AM To: Sheila Hutcheson <shutch9750 @aol.com> CC: "dlooney @cityofedgewater.org" <dlooney @cityofedgewater.org >, "jachristine @CITYOFEDGEWATER.ORG" < jachristine @CITYOFEDGEWATER.ORG >, "Fredricks, Jill" <Fredricks.Jill @principal.com >, "doug @foster - foster.com" <doug @foster - foster.com> The Tax Reform Act of 1986 changed the way earnings on after tax employee contributions (required and voluntary) are taxed when withdrawn in cash. What it essentially does is it takes the after -tax benefit of the contributions and it spreads it across the entire pension benefit — which consists of both the contributions and the annuity. If this is a calculation the Boards opt to have done by someone other than Principal or you would like to report the taxable and non - taxable portion of the payments, please let me know and we will not complete this calculation in the future. Thanks! Tonya Niday 1 Client Service Manager II I Principal Financial Group 1 PO Box 9394, Des Moines, IA 50306 -9394 1 Overnight: 710 9th Street, Des Moines IA 50309 -15021 Phone (515)246 -4969 (800)543 -4015 ext. 649691 Fax (866)704-3481 1 niday.tonya@ principal.com Securities offered through Princor Financial Services Corporation, Des Moines, Iowa 50392 -2080, (800) 247 -1737, member SIPC. Princor and Principal are members of the Principal Financial Group. From: Sheila Hutcheson [mailto:shutch9750 @aol.com] Sent: Monday, February 13, 2012 9:59 AM To: Niday, Tonya Cc: dlooney @dtyofedgewater.org; jachristine @CITYOFEDGEWATER.ORG; Fredricks, Jill; doug @foster- foster.com Subject: Re: Paulette Tubbs - Edgewater General - and Christi Moeller I guess I just can't understand why taxes are taken on monies that wer contributed on an after tax basis. Sheila Hutcheson Pension Plan Administrator 3860 Grantline Road Mims, FL 32754 321 - 267 -3082 321- 267 -4728 (facsimile) shutch9750 @aol.com On 2/13/2012 10:25 AM, Niday, Tonya wrote: Good morning, Ms. Paulette Tubbs did not have the actuarial present value of benefits reported, so we weren't able to calculate the taxes and paid as an after -tax contribution as noted. Attached is a copy of the e-mail correspondence that already addressed this matter. Thank you! Tonya Niday 1 Client Service Manager II 1 Principal Financial Group 1 PO Box 9394, Des Moines, IA 50306 -9394 1 Overnight: 710 9th Street, Des Moines IA 50309 -15021 Phone (515)246 -4969 (800)543 -4015 ext. 649691 Fax (866)704-3481 1 niday.tonyaPprincipal.com Securities offered through Princor Financial Services Corporation, Des Moines, Iowa 50392 -2080, (800) 247 -1737, member SIPC. Princor and Principal are members of the Principal Financial Group. From: Sheila Hutcheson [mailto:shutch9750@aol.com] Sent: Saturday, February 11, 2012 4:58 PM To: Niday, Tonya Cc: dloonevc..dtyofedgewater.orq; jachristine @CITYOFEDGEWATER.ORG; Fredricks, Jill; douq @foster- foster.com Subject: Re: Paulette Tubbs - Edgewater General - and Christi Moeller Tonya, L of 4 2/13/2012 11:15 AM tcr.: rdulelle 1 uuuS - tugewat.ei lleuerdl - uiu l 1111Jll lvmenel Ms. Moller emailed me that the check for the refund of her member cont. came today. I got in today's mail your letter in this regard (attached). Please explain why now taxes were withheld from this after tax cont. We sent exactly the same information as on past benefit calculations, as you noted what you needed. On Paulette Tubbs, no tax was withheld and the same information was sent. Please advise as to your basis and let's have a consistent application of the tax withholding on after tax cont. Thanks. Sheila Hutcheson Pension Plan Administrator 3860 Grantline Road Mims, FL 32754 321 - 267 -3082 321 - 267 -4728 (facsimile) shutch97500aol. com Original Message From: Niday, Tonya <Niday.Tonyaftprincipal.com> To: 'Sheila Hutcheson' <shutch9750Aaol.com> Cc: Fredricks, Jill <Fredricks.Jillcaprincipal.com> Sent: Fri, Aug 19, 2011 3:30 pm Subject: RE: Paulette Tubbs - Edgewater General Hi Sheila, If an employee elects to take his/her after tax contributions in a lump sum and a monthly annuity separately, in order to calculate federal withholding under the Tax Reform Act of 1986 (outlined in IRS Notice 87 -13), we will need the following information: 1. Total contributions at ACD 2. Monthly accrued benefit at ACD with contributions left in 3. Present value of above. This is true for both the Police and General Edgewater plans. Without this information, we will not withhold on the after -tax lump sum payment. Thanks! Tonya Niday 1 Client Service Manager 11 1 Principal Financial Group 1 PO Box 9394, Des Moines, IA 50306 -9394 1 Overnight: 710 9th Street, Des Moines IA 50309-15021 Phone (515)246 -4969 (800)543 -4015 ext. 649691 Fax (866)704-3481 1 niday.tonya(a)principal.com From: Sheila Hutcheson [mailto:shutch9750 @aol.com] Sent Wednesday, August 17, 2011 4:09 PM To: Niday, Tonya; Fredricks, Jill Subject: Re: Paulette Tubbs - Edgewater General Tonya, Per our telecon, please email me specifically the information you need from Foster & Foster to assess the tax status of after -tax member cont. refunds in conjunction with retirements. As I stated, the same information from F &F was sent for the retirements of Donna Looney, Joe Manzi, Wayne Nichols, and Tyna Hilton and tax was withheld on their after -tax refunds. When I had questioned this in the past, you had sent some IRS information to support Principal's withholding in this regard. In our conversation today, you said that, perhaps, Principal had requested further information on Looney, Manzi, Nichols, and Hilton that would account for your withholding. We are unaware of any such request, so please advise what you need going forward. Sheila Hutcheson Pension Plan Administrator 2 of 4 2/13/2012 11:15 AM RC: LIIIUS 1VIUUIC - bugew[Llel vomit in ULLp. //111all.au1.cU111/ / /3 111 / ao1 - o/ ell us / Milli/ ri 111UViessage. asp From: Sheila Hutcheson <shutch9750 @aol.com> To: Niday, Tonya <Niday.Tonya©principal.com>; dlooney <dlooney @cityofedgewater.org> Subject: Re: Linda Moore - Edgewater General Date: Wed, Dec 14, 2011 10:17 am Okay. I have asked Donna to contact me so she and I can discuss if she has any information on Ms. Moore. Sheila Hutcheson Pension Plan Administrator 3860 Grantline Road Mims, FL 32754 321 - 267 -3082 321- 267 -4728 (facsimile) shutch9750 @aol.com On 12/14/2011 9:34 AM, Niday, Tonya wrote: I'm not sure what prompted it. Our annuity payment area must be doing another sweep through to clean up some outstanding issues. Thanks! From: Sheila Hutcheson [mailto:shutch9750@aol.com] Sent: Tuesday, December 13, 2011 4:57 PM To: Niday, Tonya Subject: Re: Linda Moore - Edgewater General Tonya, I have emailed Donna to see what I can find out. What brought this up now, if her payments were stopped in Oct. 2008? Sheila Hutcheson Pension Plan Administrator 3860 Grantline Road Mims, FL 32754 321 - 267 -3082 321 - 267 -4728 (facsimile) shutch9750 @aoi.com On 12/13/2011 5:08 PM, Niday, Tonya wrote: Hi Sheila, Ms. Moore began receiving monthly disability payments under the pension plan beginning 2 -1 -2004. Her monthly payment is $430.66. Unfortunately, our records show that the recipient has not been cashing several of her monthly checks. As a result, we have stopped issuing payments in October 2008; however, there were several checks before that time that had not been cashed, as well. According to the plan, her disability payment should continue up through December 2009 and then she should be given the opportunity to elect a retirement option. Our attempts to locate this retiree, though, have failed. Someone from our annuity payout area did reach out to Donna Looney in February 2010 and she confirmed that Ms. Moore's son and brother work for the City. During that call, Donna indicated that she would check with family members and get back with us; however, I haven't seen any correspondence since that time. of 2 3/18/2012 5:13 PM ke: Ltnaa Moore - tagewater uenerai nttp: / /maii.aoi.comI3J / 1 - 111 /ao1- Bien- usimai1 /rrmtMessage.asp The last known address we have on file is: 2512 N Dixie Fwy New Smyrna Beach, FL 32168 -5884 We also have the following home number on file -- 386- 423 -7589 -- however, Donna noted during the call in February that this retiree may be living out of her car. Please let me know how the board would like us to proceed with this retiree's payment. Thank you! Tonya Niday 1 Client Service Manager 11 1 Principal Financial Group 1 PO Box 9394, Des Moines, IA 50306 -9394 I Overnight: 710 9th Street, Des Moines IA 50309 -15021 Phone (515)246 -4969 (800)543 -4015 ext. 649691 Fax (866)704 -3481 1 niday.tonya@principal.com Message Disclaimer This e -mail message is intended only for the use of the individual or entity to which it is addressed, and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If you are not the intended recipient, any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us immediately by reply email to Connect @principal.com and delete or destroy all copies of the original message and attachments thereto. Email sent to or from the Principal Financial Group or any of its member companies may be retained as required by law or regulation. Nothing in this message is intended to constitute an Electronic signature for purposes of the Uniform Electronic Transactions Act (UETA) or the Electronic Signatures in Global and National Commerce Act ( "E- Sign ") unless a specific statement to the contrary is included in this message. While this communication may be used to promote or market a transaction or an idea that is discussed in the publication, it is intended to provide general information about the subject matter covered and is provided with the understanding that The Principal is not rendering legal, accounting, or tax advice. It is not a marketed opinion and may not be used to avoid penalties under the Internal Revenue Code. You should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, or accounting obligations and requirements. of 2 3/18/2012 5:13 PM L111U4 1VIUUIG - Dugewuiet 1JG11GIa1 nnp: / /maii.aol.comisD / i'- 111 /ao1- b /en -us /mail /YrmtMessage.asp From: Niday, Tonya <Niday.Tonya @principal.com> To: Sheila Hutcheson <shutch9750 @aol.com> Subject: Linda Moore - Edgewater General Date: Tue, Dec 13, 2011 5:08 pm Hi Sheila, Ms. Moore began receiving monthly disability payments under the pension plan beginning 2 -1 -2004. Her monthly payment is $430.66. Unfortunately, our records show that the recipient has not been cashing several of her monthly checks. As a result, we have stopped issuing payments in October 2008; however, there were several checks before that time that had not been cashed, as well. According to the plan, her disability payment should continue up through December 2009 and then she should be given the opportunity to elect a retirement option. Our attempts to locate this retiree, though, have failed. Someone from our annuity payout area did reach out to Donna Looney in February 2010 and she confirmed that Ms. Moore's son and brother work for the City. During that call, Donna indicated that she would check with family members and get back with us; however, I haven't seen any correspondence since that time. The last known address we have on file is: 2512 N Dixie Fwy New Smyrna Beach, FL 32168 -5884 We also have the following home number on file -- 386 - 423 -7589 -- however, Donna noted during the call in February that this retiree may be living out of her car. Please let me know how the board would like us to proceed with this retiree's payment. Thank you! Tonya Niday 1 Client Service Manager II 1 Principal Financial Group 1 PO Box 9394, Des Moines, IA 50306 -9394 1 Overnight: 710 9th Street, Des Moines IA 50309 -15021 Phone (515)246 -4969 (800)543 -4015 ext. 649691 Fax (866)704 -3481 1 niday.tonyaPprincipal.com Message Disclaimer This e-mail message is intended only for the use of the individual or entity to which it is addressed, and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If you are not the intended recipient, any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us immediately by reply email to ConnectCcr�,principal.com and delete or destroy all copies of the original message and attachments thereto. Email sent to or from the Principal Financial Group or any of its member companies may be retained as required by law or regulation. Nothing in this message is intended to constitute an Electronic signature for purposes of the Uniform Electronic Transactions Act (UETA) or the Electronic Signatures in Global and National Commerce Act ( "E- Sign ") unless a specific statement to the contrary is included in this message. While this communication may be used to promote or market a transaction or an idea that is discussed in the publication, it is intended to provide general information about the subject matter covered and is provided with the of 2 3/18/2012 5:11 PM