10-10-2006
Edgewater Firefighter’s Pension Fund
Regular Meeting
October 10, 2006
Station 57
2626 Hibiscus
5:30 p.m.
CALL TO ORDER:
Chairman Jollie called to order the regular meeting of the Edgewater
Firefighters’ Pension Fund Board on October 10, 2006 at 5:26 p.m. at
Edgewater Fire Rescue Station 57.
ROLL CALL:
Members present were Chairman Jim Jollie, Laura Reilly, Marty Tse,
Gary Butt and Ron Hayward. Also present was Mike Welker of Bogdahn
Consultants and Shontella Jackson, Recording Secretary.
APPROVAL OF MINUTES:
The minutes of the September 18, 2006 meeting was submitted for
MOTION by Laura Reilly, SECOND by Marty Tse to approve
approval.
the minutes of Regular Edgewater Firefighter’s Pension Board on
September 18, 2006. MOTION CARRIED UNANIMOUSLY.
OLD BUSINESS:
Chairman Jollie updated the Board on the ordinance change. The Board
voted to adopt Option D which is a $16 per month stipend for years of
service. Chairman Jollie stated that he met with the City Manager, Jon
Williams to discuss the Pension Plan and they had a conference call with
Doug Logan of Foster & Foster. Chairman Jollie stated that he needed
a detail letter from our actuarial stating what it would cost and presented
a copy to the Board for review. Chairman Jollie stated that members
voted to increase our percentage from 6% to 7%, use the frozen state
monies to add to it and that should make the benefit change at zero cost
to the City. Chairman Jollie stated that the letter showed that it would
have zero cost to the City for one year. The one year is due to the stock
market and/or salaries etc. Chairman Jollie stated that our goal is to get
it on the Council agenda as soon as possible.
Edgewater Firefighters’ Pension Fund
Regular Meeting
10/10/06 Page 2
Chairman Jollie stated that Ms. Halcom of Trusco was present at our last
meeting to give us an update on the funds. Mike Welker provided a
survey of different fund managers.
Mike Welker stated that they would send out a RFP to fund managers
similar to Trusco. Chairman Jollie stated that the custodial issue is a
big concern for the plan. Mike Welker stated that he would like to place
MOTION by Gary Butt,
the RFP now and provide the Board with a list.
SECOND by Marty Tse to go forth with the RFP process. CARRIED
UNANIMOUSLY.
DISCUSSION ITEMS:
None.
ADJOURNMENT:
Chairman Jim Jollie adjourned the meeting at 6:00 p.m.
Minutes respectfully submitted by:
Shontella Jackson
Recording Secretary
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