02-24-2000
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Edgewater Firefighters' Pension Fund
Regular Meeting
Thursday, February 24, 2000
6:00 p.m.
Call to Order: A Regular Meeting of the Edgewater Firefighters' Pension Board was called to
order on Thursday, February 24,2000 by Chairman Jollie at 5:56 p.m. in the Training Room of
Fire Station #57. Members present were: Chairman Jim Jollie, Mr. Gary Butt and Ms. Laura
Reilly. Ms. Jill Klem and Ms. Patricia Richard were recorded as absent. Also present was Ms.
Sondra M. Pengov, Recording Secretary.
Minutes: The minutes of the October 22, meeting were presented for approval. A motion to
approve the minutes as submitted was made by Gary Butt with a second from Laura Reilly. The
motion CARRIED 3-0.
Old Business: Updated Summary Plan: Chairman Jollie explained the delay in having this
meeting was due to the holdup within City Hall in preparing the membership contribution report
as requested. The Chairman explained, due to the many changes within City Hall, it hasn't been
possible to provide the report. Chairman Jollie stated he had hoped to have Mr. Foster attend
this meeting, however, the membership contribution report had not been made available. When
the City does forward the report to him, he will direct it appropriately.
Fiduciary Liability Insurance: Discussion was had by Chairman Jollie regarding the
memo from City Attorney Clayton and the letter from Sugarman & Susskind. The letter stated
the City Council made a decision to undertake defense responsibility as a self-insured risk for the
fiduciary liability of its pension board volunteers. Chairman Jollie said Florida Statutes, Chapter
J J 2 states, any provision in a legal agreement, contract or instrument which supports to relieve
a fiduciary of a retirement system or plan from responsibility is void in being against public
policy. He said according to this the City cannot relieve the Board of fiduciary liability
insurance. Chairman Jollie said the City Attorney had received a letter pertaining to the police
department's pension plan that also references Chapter 112. After discussion between the Board
members it was recommended to look into what the police department is doing to protect the
retirement system and the trustees from liability. A motion was then made by Laura Reilly to
table the Fiduciary Liability Insurance business until more information is obtained, seconded by
Gary Butt. Motion CARRIED 3-0.
New Business: Change to Ordinance per State Division of Retirement: Chairman Jollie read
a letter received from the Department of Management Services dated January 31, 2000 stating
the actuarial valuation reports were state accepted.
Letter with Proposed Changesfrom Sugarman: Chairman Jollie made reference to a
letter received from the Department of Management Service that suggests some changes
concerning Ordinance 99-0-04. Sugarman & Susskind where also provided a copy of the
suggested changes and agreed to it. After discussion, a motion was made by Laura Reilly to
incorporate the changes into the Ordinance (in a manner decided by the legal department) and
send the Ordinance to the City Attorney to start the process of sending it to the City Council for
.
,
...
...."
Edgewater Firefighters' Pension Fund
Regular Meeting
Thursday, February 24, 2000
6:00 p.m.
Call to Order: A Regular Meeting of the Edgewater Firefighters' Pension Board was called to
order on Thursday, February 24,2000 by Chairman Jollie at 5:56 p.m. in the Training Room of
Fire Station #57. Members present were: Chairman Jim Jollie, Mr. Gary Butt and Ms. Laura
Reilly. Ms. Jill Klem and Ms. Patricia Richard were recorded as absent. Also present was Ms.
Sondra M. Pengov, Recording Secretary.
Minutes: The minutes of the October 22, meeting were presented for approval. A motion to
approve the minutes as submitted was made by Gary Butt with a second from Laura Reilly. The
motion CARRIED 3-0.
Old Business: Updated Summary Plan: Chairman Jollie explained the delay in having this
meeting was due to the holdup within City Hall in preparing the membership contribution report
as requested. The Chairman explained, due to the many changes within City Hall, it hasn't been
possible to provide the report. Chairman Jollie stated he had hoped to have Mr. Foster attend
this meeting, however, the membership contribution report had not been made available. When
the City does forward the report to him, he will direct it appropriately.
Fiduciary Liability Insurance: Discussion was had by Chairman Jollie regarding the
memo from City Attorney Clayton and the letter from Sugarman & Susskind. The letter stated
the City Council made a decision to undertake defense responsibility as a self-insured risk for the
fiduciary liability of its pension board volunteers. Chairman Jollie said Florida Statutes, Chapter
112 states, any provision in a legal agreement, contract or instrument which supports to relieve
ajiduciary of a retirement system or plan from responsibility is void in being against public
policy. He said according to this the City cannot relieve the Board of fiduciary liability
insurance. Chairman Jollie said the City Attorney had received a letter pertaining to the police
department's pension plan that also references Chapter 112. After discussion between the Board
members it was recommended to look into what the police department is doing to protect the
retirement system and the trustees from liability. A motion was then made by Laura Reilly to
table the Fiduciary Liability Insurance business until more information is obtained, seconded by
Gary Butt. Motion CARRIED 3-0.
New Business: Change to Ordinance per State Division of Retirement: Chairman Jollie read
a letter received from the Department of Management Services dated January 31, 2000 stating
the actuarial valuation reports were state accepted.
Letter with Proposed Changes from Sugarman: Chairman Jollie made reference to a
letter received from the Department of Management Service that suggests some changes
concerning Ordinance 99-0-04. Sugarman & Susskind where also provided a copy of the
suggested changes and agreed to it. After discussion, a motion was made by Laura Reilly to
incorporate the changes into the Ordinance (in a manner decided by the legal department) and
send the Ordinance to the City Attorney to start the process of sending it to the City Council for