06-23-1999
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Edgewater Police Pension Plan
Board of Trustees
P. O. Box 489
Edgewater, Florida 32132
Minutes
A meeting of the City of Edge water Police Pension Board was called to order at 1 :00 p.m. on June
23, 1999 in the City Hall Conference Room.
ROLL CALL:
Bret Teitelbaum
Jeanne Delnigro
Ruth Garvey
Larry Loeffler
Gary McElroy
Present
Present
Present
Present
Present
Also present were Jack Ascher!, Consulting Agent, Karen Rickelman, Finance Director, and JoAnn
Richard, Recording Secretary. Nikki Clayton, City Attorney arrived later during the meeting.
ELECTION OF CHAIRMAN AND VICE CHAIRMAN:
Bret Teitelbaum was nominated Chairman, and Jeanne Delnigro was nominated Vice Chairman, both
were elected by the board.
APPROVAL OF MINUTES:
It was decided that since only two (2) members were present from the last meeting on March 26,
1999 that the minutes couldn't be approved. Officer Teitelbaum would research Robert's Rules of
Order and postpone approval of the minutes until the next meeting.
NEW BUSINESS:
Officer Teitelbaum distributed the FPPT A Newsletter and discussed the upcoming FPPT A
Conference. He explained the importance of becoming a certified trustee through the Trustee
Certification Program.
Larry Loeffler expressed his interest in attending the Conference in S1. Petersburg on September 26,
1999. Jeanne Delnigro made a motion for Mr. Loeffler to attend with second by Ruth Garvey.
Motion CARRIED 5-0.
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An Actuarial Valuation Report was distributed and reviewed by Mr. Ascherl. He explained that new
booklets would be printed soon, and that it's taken this long because of all the pending changes.
Mr. Ascherl distributed and reviewed in detail the Flexible Pension Investment Fund Statement for
the period of 10-01-98 through 03-31-99.
OLD BUSINESS:
Officer Teitelbaum addressed the outstanding bills for legal services rendered by Attorney Sugarman
in the amount of Five Hundred Sixty dollars ($560.00). Most of these bills were for research and
letters pertaining to Larry Westfall.
Ruth Garvey made a motion to pay these outstanding bills seconded by Corporal McElroy. Motion
CARRIED 5-0 to pay Attorney Sugarman.
Officer Teitelbaum explained to the members that any board member could contact Attorney
Sugarman with questions to avoid waiting for another meeting or discussing matters with other board
members since that would be against the law. He also reminded the members that Attorney
Sugarman is paid by the hour, and any time they contact him the board will be charged.
Mr. Ascherl suggested that since he has been doing pension work for so many years, and he is in
contact with Principal along with Trish Schumaker with the State of Florida, he would probably be
able to answer most questions the board has at no charge. He also reminded the board they have
access to the City Attorney.
MISCELLANEOUS:
Karen Rickelman, Finance Director, explained that the board needed to come up with figures as to
what monies they would need for travel, membership for the FPPT A, their local P.O. Box, seminars,
education, lodging, mileage, legal costs, etc. so she could allocate funds in the Police budget. Ms.
Rickelman suggested they allocate Two Thousand dollars ($2,000.00) to cover all expenses. The
board agreed, and she would let the City Manager know.
Jeanne Delnigro expressed her concern and wanted to make a motion as too why Larry Westfall
didn't get more than two (2) years retroactive pay from the time of his injury. She would like the
board to go back to 1995 and pay the difference to Mr.Westfall that he should have gotten.
Mr. Ascherl explained that the board has no authority to spend money, only the City Council can
spend money. The Pension Board can make recommendations, but they only manage the funds that
exist within the plan.
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Jeanne Delnigro questioned Nikki Clayton as to the fact that she was under the impression that it was
the board's responsibility to make these determinations. Ms. Clayton explained that the City was
under no legal obligation to Mr. Westfall, but the Council agreed to extend a consideration to Mr.
Westfall. That he in effect received two years of money that was not of legal obligation for the City
to pay. She also explained that Mr. Westfall was able to go back ten (10) years and convert ten (10)
years of his service time using the new multiplier at 3%. She also warned that the board needs to be
careful setting a precedent like this, because then everyone becomes a special consideration.
Officer Teitelbaum distributed information on Fiduciary Liability Insurance covered by Travelers for
the board members. He asked Nikki Clayton to review the policy.
Mr. Ascherl expressed that this insurance would be totally unnecessary. He explained the City was
paying extra for the Asset Allocation Service, and it would be highly unlikely that any board member
would be sued. There are too many gatekeepers keeping their eyes on the funds.
Jeanne Delnigro asked ifit was possible for the City Attorney to attend every Police Pension Board
Meeting.
Nikki Clayton explained it would depend on what issues were being discussed, but she would put it
on her calendar.
Officer Teitelbaum suggested reconsidering any changes, if any, at the next meeting set tentatively
for Wednesday, September 1, 1999.
Ruth Garvey made a motion to adjourn seconded by Corporal McElroy. Motion CARRIED 5-0.
Meeting was adjourned at 3 :30 p.m.
Minutes submitted by:
JoAnn Richard, Board Secretary