01-11-2006
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EDGEWATER POLICE PENSION BOARD
REGULAR MEETING
Wednesday January 11,2006
City Manager Conference Room
Minutes
CALL TO ORDER:
Chairman Gary Conroy called The Police Pension Board Regular Meeting to order on
Wednesday January 11, 2006 at 1 :02 p.m. in the City Manager Conference Room.
ROLL CALL:
Secretary Dan Blazi conducted the Roll Call for the Police Pension Board Meeting.
Members present were Gary Conroy, Ferdinand Heeb, Daniel Blazi, and Lawrence Leaf.
At I :06 p.m. Malecia W-illiams was present. A quorum was established. Also present
was Jack Ached Agent of Record, Burgess Chambers, and Donna Looney from
Personnel.
APPROVAL OF MINUTES:
Chairman Conroy Called for an approval of the Minutes for the December 1, 2005
Edgewater Police Pension Board Regular Meeting.
MOTION
Ferdinand Heeb made a motion to accept the minutes as read. Malecia Williams
seconded this motion
Motion carried Unanimously
OLD BUSINESS:
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Jack Ached Presented the Fund Statement as of December 30,2005. Jack Ached talked
about the possibility of monetary percentages to be modified and transferred into other
areas of the Fund.
NEW BUSINESS:
Burgess Chambers Proposal:
Burgess Chambers gave a proposal to the Board in reference to utilizing his company for
quarterly studies of the Fund. The annual fee for this service would be $7,000. A
manager search would be made at a cost of$5,500.
A discussion was opened on the possibility that Burgess Chambers and Bogden
Consulting were both offering the same services. The possibility of the two services
being unnecessarily mirrored was discussed. Discussion for what would be the most cost
effective for the Fund was discussed. The discussion was later tabled for Bogden and
~ Burgess Chambers to both be present.
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Request for Impact Study:
Chairman Conroy presented a letter from the City Manager requesting, per the Collective
Bargaining Agreement between the City and Fraternal Order of Police, an impact study to
be conducted for a 3% COLA, and Medical Benefit Supplement. Chairman Conroy
introduced the possibility that Principal conduct the study.
MOTION
Dan Blazi made a motion to accept the request from the City and FOP. Ferdinand Heeb
seconded the motion.
Motion carried Unanimouslv
Deposits:
Chairman Conroy forwarded to the Board the monthly deposits. Chairman Conroy
explained he would be submitting these into the Board packages for information
purposes.
Report of the Division of Retirement Conference:
Chairman Conroy gave to the Board the booklet on procedures, laws, and instruction
retrieved at the Florida Division of Retirement Conference attended by Chairman Conroy
and Dan Blazi. Discussions on liability, insurance for Board Members, and other items
were opened during this time.
Attorney Bill:
Chairman Conroy proposed a motion be made to keep the bill to the Board Attorney up to
date.
MOTION
Dan Blazi made a motion to accept the reauest from the City and FOP. Ferdinand Heeb
seconded the motion.
Motion carried Unanimouslv
MISCELLANEOUS:
Chairman Conroy introduced Lawrence Leaf as the new Pension Board Member.
Ferdinand Heeb requested that the Board review the investment policy as part of a
standard meeting practice. This was accepted as a prudent recommendation.
Chairman Conroy presented the possibility of recognition to Rene Green for her service
to the Board.
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MOTION
Ferdinand Heeb made a motion to allow Chairman Conroy to spend up to $100 for items
of recognition to Rene Green. Dan Blazi seconded this motion.
Motion carried Unanimouslv
ADJOURNMENT:
With no further business to discuss, Chairman Conroy entertained a motion for
adjournment.
MOTION
Ferdinand Heeb made a motion to adiourn. Dan Blazi seconded this motion.
Motion carried Unanimouslv
The meeting was adjourned at 2:26 p.m.
Minutes submitted by: Secretary Dan Blazi
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