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08-24-1998 W' ...., Edgewater Police Pension Plan Board of Trustees P.O. Box 489 Edgewater, Florida 32132 Minutes A meeting of the Board of Trustees ofthe City of Edge water Retirement Board was called to order at 2:06 p.m. on August 24, 1998, at the Edgewater Community Center. Call To Order: Chairman Gary Conroy called the meeting to order. Members present were Ron Prekup,Sr., Gary Conroy, Ruth Garvey and Bill Lenz, and Jeanne Delnigro. Also present was Jack Ascher!, Steve Osher, Lisa Etheridge, Larry Westfall,and Sue Griffiths, Recording Secretary. Jeanne Delnigro arrived at 2:08 P.M. Approval of Minutes: After brief discussion, and a spelling correction request Ron Prekup, Sr. made a motion to accept the minutes of the May 08, 1998 and special meeting of July 30, 1998 meeting as written, seconded by Ruth Garvey. Jeanne Delnigro yes Ron Prekup, Sr. yes Gary Conroy yes Bill Lenz yes Ruth Garvey yes Motion carried 5 - 0 New Business: 1) Bill For Services Rendered By Attorney Mr. Conroy stated that the board has received a bill for services from Mr. Sugarman for the letter he had written in reference to Mr. Westfall's problem with taxability. Mr. Conroy asked the board to review the charges and make a decision whether or not to reimburse the total of $114.00. Mr. Conroy also stated that each board member was given a copy ofthe letter written by Mr. Sugarman's office that we requested and the letter was sent to Principle. Motion: The motion to reimburse Mr. Sugarman for services rendered was made by Ruth Garvey, and seconded by Bill Lenz. Jeanne Delnigro yes Ron Prekup, Sr. yes Gary Conroy yes Bill Lenz yes Ruth Garvey yes Motion carried 5 - 0 2) '-' Communications From Principle- Jack Asherl ..".; Mr. Jack Asherl reviewed communications from Principle. Mr. Asherl recommended removing restriction for international trading, which is now in effect to make plan more diversified. Suggests 10 percent for investment in international trading. Old Business 1) Taxability of Disability Income Mr. Asherl introduced representatives from Principle, Mr. Steve Osher and Lisa Etheridge from the Orlando Branch. Mr. Osher explained that he was not familiar with the problems Mr. Westfall was having and would look into the situation and try to resolve. Mr. Osher stated that all taxability of income is decided by the IRS and that Principle also has a set of regulation that they follow. He did not know what the regulations and law were on the disability income but he would get in touch with the Main Office and request information. Mr. Bill Lenz requested an accrued value report for his pension from Apr. 27th for his attorney from the representative of Principle. Mr. Asherl stated that he would get the request in writing and get the requested information from Principle. The Board Thanked Mr. Asherl and The Principle representative for attending and all parties left the meeting. Miscellaneous: 1) FPPTA School- Gary Conroy Mr. Conroy mentioned that a F.P.P.T.A School was coming up in The Keys and anyone interested in attending to learn more about pension boards and there purpose should request to attend. The board was also informed of the problems Mr. Prekup had with reimbursement on the last school he attended. The discussed the problems and decided that it would be presented in the minutes that the full per diem would be paid from the time of traveling to school, the entire time in school, and also the entire return trip from the school. Mr. Prekup asked the board ifhe would be allowed to attend the school. The board agreed and the following motion was made. Motion: Motion made to allow Mr. Prekup to attend school with full per diem each day, including en route to school and returning from school by Jeanne Delnigro, seconded by Ruth Garvey. Jeanne Delnigro yes Ron Prekup, Sr. yes Gary Conroy yes Bill Lenz yes Ruth Garvey yes Motion carried 5 - 0 2) '-' Conference in Orlando ....., Mr. Conroy stated that a conference was being held in Orlando and anyone who was _ interesting in attending the dates would be October 12 - 13 . Mr. Prekup requested approval to attend. The board agreed. Mr. Conroy also stated that Mr. Sugarman would be able to attend a meeting in the month of October since he will be in the Central Florida area at the conference. He suggested that this would be a good opportunity for the board members to meet the attorney and that the only cost incurred would be a rental car for Mr. Sugarman to drive to our meeting and then back to his conference. Mr. Conroy also stated that the conference would be in mid October and either before or immediately after conference the 11 th or the 14th would be the dates. : After discussing the following motions were made: Motion: Motion to allow Mr. Prekup attend the conference in Orlando on October 12th and 13th was made by Ruth Garvey and seconded by Bill Lenz. Jeanne Delnigro yes Ron Prekup, Sf. yes Gary Conroy yes Bill Lenz yes Ruth Garvey yes Motion carried 5 - 0 Motion: Motion was made to have Mr. Sugarman attend our meeting either October 11th or October 12th and to reimburse for rental car fees was made by Mr. Prekup and seconded by Ruth Garvey. Jeanne Delnigro yes Ron Prekup, Sr. yes Gary Conroy yes Bill Lenz yes Ruth Garvey yes Motion carried 5 - 0 3) Tape Recorder The board discussed the purchase of a tape recorder for the use of recording the meetings. During the discussion the question was raised as to why and for whom do we have to record the meeting for since the meeting is and public meeting and notices are posted for all well in advance. After a brief discussion the board decided to hold off on the purchase of the recorder until further information was obtained as to the need of recording. Motion: Motion to adjourn the meeting was made by Ruth Garvey and seconded by Delnigro. Meetiilg was adjourned by Gary Conroy at 3:42 P.M.