Loading...
HomeMy WebLinkAbout01142002 POPTSEBASTIAN POLICE OFFICER PENSION PLAN BOARD OF TRUSTEES Special Me~ing No. 02 - 1 Monday, January 14, 2002 City Hall Council Chambers CALL TO ORDER: 10:08 a.m. ROLL CALL: Present - Mr. Ew~rt, Mr. Sexton, Mr. Hovasse, and Mr. Taracka Absent - Mr. Perez - unexcused Motion to adopt minutes from regular n~ting 01 - 3, November 5, 2001 by Mr. Taracka, seconded by Mr. Hovasse. Vote: Ewert- Aye, Sexton- Aye, Taracka- Aye. Hovasse - Aye. Motion passed 4 - 0 SPECIAL BUSINESS: 1. Mr. Sexton updated the Board on the events of the meeting held with City Administrative Staffregarding the proposed pension benefits changes. Mr. Dehner, attorney for the Board, and Mr. Sexton met with Terrence Moore, City Manager, and Mark Mason, Finance Director. The meeting was cordial and productive. The City Manager agreed to put the pension proposal on the agenda for February 27, 2002 and directed Mr. Dehner to have all necessary back up documentation to his office by February 19, 2002. The City's position is to recommend the 3% multiplier as proposed, but prospectively. The Board's recommendation is for the increased multiplier to be retroactive for all members actively participating in the Plan. At the meeting it was agreed that it would be the City Council's decision regarding any approved changes. Mr. Sexton made a motion to direct Mr. Dehner to prepare the necessary Ordinance revision, and direct Foster & Foster to develop a report, including impact statement, to be delivered'by the February 19, 2002, deadline date. Mr. Hovasse seconded the motion. Vote: Sexton- Aye, Ewert - Aye, Taracka - Aye, and Hovasse - Aye. Motion passed 4 - 0 2. The Board received a letter from Mr. regarding disability pension benefits, is requesting a one-time increase for members currently out on disability of 3%. was present at the meeting and was asked to sign his letter as a matter of procedure. Discussion followed the reading of the letter by Mr. Sexton. Mr. Sexton stated he believed there wasn't enough time to get the matter before Council at the same time the increased multiplier was to be recommended. The reason was stated that for an increase to be given, an actuary study would need to be done. The actuary study done to recommend the 3% multiplier was already completed and to have a new one done, including impact statements, by February 19, 2002, would be nearly hrtpossible. Questions arose as to w~ the Board had authority to award an incqv, ase to members out on disability withom going through the City Council and without having an actuary study done. Mr. Sexton reiterated that the focus right now is on getting the multiplier increased to 3% retroactively and does not want to attach disability increases to the request. It is an issue that can be addressed in the future. Some discussion focused on the fact that only two Officers are om on disab'flity pension and the impact might be insignificant. For that reason, discussion focused on whether the Board could award an increase without Council approval and without an actuary study. A motion was made by Mr. Ewert to ask Mr. Dehner if the Board can award a one-time 3% or a 3% COLA to members out on disability pension. Mr. Sexton seconded the motion- Vote: Sexton- Aye, Ewert - Aye, Taracka- Aye, and Hovasse - Aye. Motion passed 4 - 0 3. Mr. Ewert reported that the fund made 11.5% for year-end 2001. Meeting Adjourned at 11:08 mm.