09-23-2015CITY OF EDGEWATER
POLICE OFFICERS' PENSION BOARD
SPECIAL MEETING MINUTES
City Hall Council Chambers
Wednesday, September 23, 2015 at 1:OOPM
TRUSTEES PRESENT: John Tarr
David Arcieri
Lawrence Leaf
Larry Brinson
TRUSTEES ABSENT: James Morey
OTHERS PRESENT:
Call to Order John Tarr called the meeting to order at 1:OOPM.
2. Roll Call - As reflected above.
3. Public Comment - None.
4. New Business
a. Discussion of plan restatement.
i. David Arcieri stated he would like to see Amendment 4, from May
4, 2009, regarding the Police Chief being allowed to opt out of the
plan included in the restatement, ith theJDTday limitati q
removed. % 160
D 00
The board voted to adopt Amendment 4 with the removal of the-1-of limitation
upon motion by Lawrence Leaf and second by Larry Brinson, motion carried 4-0.
ii. David Arcieri stated he wanted to allow replenishment and the
board discussed a letter dated January 26, 2015 to Foster &
Foster regarding the calculation of benefits. John Tarr commented
the board had discussed this topic 1 % years ago and all were in
agreement to allow for replenishment.
The board voted to allow replenishment of unused sick/vacation time upon motion
by David Arcieri and second by Larry Brinson, motion carried 4-0.
iii. John Tarr recommended the board first go through all historical
data, setting aside only those documents which reflect the intent
of the board, and make one motion regarding what to include in
the plan restatement.
iv. John Tarr recommended using the 2008 restatement as a basis to
which additions and expansions could be made.
v. John Tarr recommended the adoption of Amendment 4, dated
May 4, 2009, with the 100 day limitation removed, as stated in the
motion above.
vi. John Tarr recommended the adoption of allowing replenishment of
unused time as stated in the motion above.
vii. John Tarr stated that Ordinance 2013-0-18 needed to be included
in the plan restatement.
viii. John Tarr stated that Amendment 1, dated October 1, 2008, which
ensured the plan was a government defined benefit plan under
IRS code should be included in the restatement.
ix. John Tarr stated that Amendment 2, dated June 1, 2009, which
dealt with annuity benefits should be included in the restatement.
x. John Tarr stated that clarification of DROP returns should be
included in the plan restatement.
xi. John Tarr stated that Ken Harrison should ensure that the
language complies with statutes and includes all required laws.
The board voted to send the discussed items to Ken Harrison so he could
produce a draft plan document upon motion by Larry Brinson and second by
Lawrence Leaf, motion carried 4-0.
5. Adjournment The meeting adjourned at 1:57PM.
6. Next Meeting December 14, 2015.
pectfully ubmitted by:
4FerrI kJenre, an Administrator
Date Approved By the Pension Board
Approved.db:
Jo arr, Chairman