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HomeMy WebLinkAbout12-12-17 AgendaM�, EMST HOME OF FEl1CAN ISLAND PUBLIC NOTICE — POLICE PENSION BOARD MEETING DECEMBER 12, 2017 The Police Pension Board will hold a regular quarter meeting Tuesday, December 12, 2017 at 10:00 a.m. in the City Council Chambers, City Hall,1225 Main St. Sebastian, Florida. Ate_ CALL TO ORDER WELCOME TO NEW POLICE BOARD MEMBER JASON GILLETE AND CONGRATULATIONS TO RETURNING POLICE BOARD MEMBER RICH SNELL VOTE TO EXCUSE ABSENT BOARD MEMBER(S) CALL FOR NOMINATIONS FOR CHAIRMAN (Chairperson calls roll if more than one nomination— most votes is selected) APPROVAL OF MINUTES: A. Regular Meeting September 19, 2017 OLD BUSINESS A. Approval of Payments: a. Fiera Capital Inc. (July -September) b. Center Coast Capital Advisors, LP (July -September) c. Renaissance Investment Management (July -September) d. Morgan Stanley Global Banking (July -September) e. Christiansen & Delmer (September -October) f. Municipal Code Corporation g. Administrative Solutions h. Travelers Insurance (Policy To November 1, 2018 i. Boston Partners (July -September) j. Salem Trust (Quarter Ending June) k. Salem Trust (Quarter Ending September) 1. Foster & Foster (Pending Reporting) B. Review of Annual Calendar of Board Activities C. Report on Letter from Florida Division of Retirement D. Consideration of Summary Plan Description NEW BUSINESS A. Review of Expenses $ 1,026.40 $ 660.28 $ 1,389.13 $ 3,375.00 $ 9,545.93 $ 598..20 $ 128.00 $ 2,685.00 $ 1,453.65 $ 2,640.00 $ 5,925.00 $12,295.00 B. Report from Investment Monitor C. Report from Investment Manager D. Consideration of Replacement for Pension Board Attorney E. Consideration of Special Meeting in January to Review Actuarial Report F. Legal Updates G. Board Member Reports and Comments H. Next Quarterly Meeting: March 20, 2018 ADJOURN Chairperson Chairperson Chairperson Chairperson Chairperson Ken Killgore, Board Member Ken Killgore, Board Member Ken Killgore, Board Member Lee Debater, Christiansen & Definer Ken Killgore, Board Member Charlie Mulfrnger, Morgan Stanley Grant McMurry, Highland Capital Chairperson Ken Killgore, Board Member Lee Definer, Christiansen & Definer Chairperson Chairperson Please note: In accordance with Florida Statue 286.0105: any person who desires to appeal any decision at this meeting will need a record of the proceedings and for this purpose may need to ensure that a verbatim record of the proceedings is made which includes the testimony and evidence upon which the appeal is based. In accordance with Florida Statute 286.26: Persons with disabilities needing assistance to participate in any of these proceedings should contact the Administrative Services Department at 1225 Main Street, Sebastian, Florida 32958, or telephone 772-388-8205. , %� r, DRAFT CITY OF SEBASTIAN POLICE PENSION BOARD MINUTES OF REGULAR QUARTERLY MEETING SEPTEMBER 19, 2017 1. Call to Order — Chairman Steve Marcinik called the meeting to order at 10:00 am. Present Board Members Steve Marcinik Rich Snell Paul Williamson Christine Vicars Ken Killgore Also Present Charlie Mulfinger, Greystone Consulting, Consultant Scott Owens, Greystone Consulting, Consultant Grant McMurray, Highland Capital Management, Consultant Mindy Thompson, Salem Trust, Consultant Lee Dehner, Christiansen & Dehner, Attorney Cindy Watson, Human Resources Director Susan Mann, Recording Consultant 2. Vote to Excuse Absent Board Member(s) — None 3. Public Comment — None 4. ADaroval of minutes A. Regular Meeting June 20, 2017 B. Special Meeting June 28, 2017 C. Special Meeting of July 20, 2017 A motion to approve the June 20, 2017, June 28, 2017 and July 20, 2017 minutes as presented was made by Officer Marcinik, seconded by Officer Snell and passed unanimously by voice vote. 5. Old Business A: Approval of Payments a. Christiansen & Dehner (June) $ 3,834.90 b. Foster & Foster $ 5,120.00 c. Christiansen & Dehner (July) $ 599.82 d. Foster & Foster $ 1,000.00 e. Salem Trust $ 2,640.00 Officer Marcinik read the Approval of Payments list for the record. Mr. Kilgore noted that there was a large invoice from Foster & Foster. A motion to accept the Approval of Payments was made by Officer Snell, seconded by Officer Marcinik and passed unanimously by voice vote. POLICE PENSION BOARD MINUTES OF REGULAR MEETING SEPTEMBER 19, 2017 Page 2 B. Report on Ordinance for DROP, Cola and Buybacks Mr. Killgore reported that the Ordinance had been adopted by the City Council. There was a detailed discussion concerning distribution of ballots for election to the Board and the procedure to establish terms. Mr. Dehner stated that the way to stager the terms would be for one member to step down prior to the end of their term and hold an election. That would make the new term staggered from the other term. It was agreed that ballots would be sent to all active members of the plan, not to retirees. C. Review of Annual Calendar of Board Activities Mr. Killgore explained that the Calendar is updated quarterly. He stated no action is required. D. Report on State Required Website Disclosures Mr. Killgore reported that he had addressed the required Website Disclosures. Officer Marcinik stated that there is an additional disclosure that will be addressed later. 7. New Business A. Review of Expenses and Approval of 2018 Annual Budget. Mr. Killgore stated that the Budget document is included in the Agenda Package. He reviewed the Budget in detail. Mr. Dehner stated that a final report needs to be generated after all the expenses are posted. A motion to approve the budget was made by Officer Snell, seconded by Officer Marcinik and passed unanimously by voice vote. B. Report from Investment Manager Transitions Ms. Johnson, Salem Trust, reported that the new managers and accounts are in place and the transition went smoothly. She responded to Mr. Killgore's comment that the statements are much larger than previously by stating that there are more managers and more accounts which generate more activity. She stated that although there are statements for each account there is one consolidated statement which may be more helpful. She offered to make adjustments to the format if that would be helpful. She stated that the fee schedule will not require any adjustment at this time even with the increase in managers and accounts. She explained that the only change to the fee is related to Class Action Suits which Salem has absorbed for their clients, but now that charge will be passed on to the client. She concluded by stating that Salem will continue to monitor the accounts and unless something develops to require a meeting she will return next September to make a presentation to the Board. POLICE PENSION BOARD MINUTES OF REGULAR MEETING SEPTEMBER 19, 2017 Page 3 C. Report from Investment Monitor Mr. Mulfinger, Morgan Stanley, reported that there was a gain in the 31d quarter. He stated that there will be some minor adjustments in the portfolio to bring it into line with the Investment Policy in place. Mr. Owens reported that the overall performance of the market was good during the 3rd quarter. He provided details on the various indexes, unemployment rate, income levels, etc. He explained that earnings are up and provided a detailed explanation of how this impacts the market. He reviewed the Quarterly Performance Summary in detail. He explained the composition of the portfolio, how it compares to investment policy and the rates of return both current and historical. There was a discussion on the selection of managers, associated fees, investment strategies and the decisions made by the Board regarding the approach to be followed. D. Report from Investment Manager Mr. McMurray, Highland Capital Management, provided details on his background, his firm and his involvement with the Pension Fund. He noted that his company manages primarily union pension funds. He provided information on his investment and reporting approach. He discussed various securities and their rates of return. E. Legal Updates a. Report on Disability Cases b. Status of Summary Plan Descriptions c. Proposed Meeting Dates for 2018 Mr. Dehner provided information on legislative changes. He noted the one that applies to the City is the posting of a notice on the door in which the majority of pension business is conducted identifying it as the location where pension business is conducted and to identify the records management liaison and how they can be contacted. He stated that this information must be posted on the website. It was agreed that Council Chambers is the location and the notice would be posted on the bulletin board in the lobby and would be placed on the website. Mr. Dehner stated that a change in the law which protects the identity of both current and past police officers is being complied with by the City. He stated that the change in the law now applies to former firefighters. Mr. Dehner provided a brief update on Disability Cases. F. Board Member Reports and Comments — None C. Next Quarterly Meeting: December 12, 2017 12. Adiourn Chairman Marcinik called for any further business, hearing none he adjourned the meeting at 11:28 am. By: Steve Marcinik s/m Kenneth Killgore From: Kenneth Killgore Sent: Thursday, November 16, 2017 2:07 PM To: 'stcdrfldops' Subject: Sebastian Police Pension Trust Payments Attachments: MX-4140N 20171116_132244.pdf Attached is a pdf with the supporting documents for payments needed from the Sebastian Police Pension Trust Account. Please process the attached invoices for payment to the vendors shown. . Fiera Capital Inc. $1,026.40 Center Coast Capital Advisors, LP $ 660.28 Renaissance Investment Management $1,389.13 Morgan Stanley Global Banking Operations $3,375.00 Christiansen & Dehner, P.A. $9,545.93 Thank you. Ken Killgore Administrative Services Director City of Sebastian 1 FIERACAPTTAL September 30, 2017 Ken Killgore 1225 Main Street Sebastian, FL 32958 City of Sebastian Police Officer's Retirement System - 3040002573 FIERA CAPITAL INC. SUMMARY OF MANAGEMENT FEES For The Period Inception Third Quarter 2017 Portfolio Value as of 09-30-17 689,889 @ 0.75 % per annum Quarterly Management Fee Prorated for 73 days out of 92 days TOTAL DUE AND PAYABLE $ 689,888.40 1,293.54 $ 1,293.54 $ 1,026.40 $ 1,026.40 ., F� li g(,yo OTA 6A--I RA/V As per SEC Rule 206141-2, we urge you to compare this report with your custodian statements. It is the client's responsibility to verify the accuracy of the computation. The custodian will not do an independent verification of the accuracy of the computation of fees. ACH Instructions: Citi Private Bank 1 Court Square, 22nd Floor Long Island City, NY 11120 Routing #: 021000089 Acct.#: 4974013748 Account Name: Fiera Capital Inc. To pay by check: Payable to Fiera Capital Inc. Attn: Myron Charas 10050 Innovation Dr, Suite 120 Dayton, OH 45342 Billing inquiries should be directed to: Myron Charas mcharas@fleracapital.com 937-388-1437 Kenneth Killpore From: Myron Charas <MCharas@fieracapital.com> Sent: Tuesday, October 31, 2017 8:59 AM To: Kenneth Killgore Cc: Bil ling_FCI Subject: 3Q 2017 Invoice for the City of Sebastian acct. Attachments: City of Sebastian Police Ret Sys 3Q 2017.pdf,• 2016 Fiera Capital, Inc. W-9.pdf Ken, Attached is the inception invoice for the 3 d quarter 2017 for the City of Sebastian Police Retirement System account. Please remit the fee at your earliest convenience. I have attached a Fiera Capital W-9 for you records. Our banking information is at the bottom of the invoice page. The bank data is good for both ACH and wire. Thank you, FIERAC.,\PI'#I t. Myron Charas Serior Financial Analyst Fiera Capital Inc. 10050 Innovation Drive, Suite 120, Dayton, OH 45342 T 937 386-1437 F 937 847-9102 • mcharascxC-},feracapital.com • www.fierausa.com THE POWER OF THINKING This message and the documents attached thereto are intended only for the addressee and may contain privileged or confidential information. Any unauthorized disclosure is strictly prohibited. If you have received this message in error, please notify us immediately so that we may correct our internal records. Please then delete the original message. If you no longer wish to receive commercial electronic messages from Fiera Capital Corporation, simply reply «Unsubscribe» to this email. Le present message et les documents qui y sont joints sont destines exclusivement au destinataire indique et leur teneur peut etre confidentielle. Il est strictement interdit a quiconque d'en prendre connaissance, de les utiliser ou de les divulguer. Si vous recevez le present message par erreur, veuillez nous en aviser immediatement et le detruire, ainsi que les documents qui y sont joints. Si vous ne souhaitez plus recevoir de messages electroniques commerciaux de la part de Corporation Fiera Capital, priere de repondre «Me desabonner» a ce courriel. 1 orm WW9 Request for Taxpayer Give Form to the (Rev. December2014) identification Number and Certification requester. Do not Department at the Treasury send to the IRS. InterrnN Rovenue Service 1 Name (as shown on your income tax return). Name Is required on this fine; do not leave this fine blank. Flera Capital Inc. N 2 Business name/disregarded entity name, if different from above 3 Check appropriate box for federal tax classification; check only one of the following seven boxes: 4 Exemptions (codes apply only to h ❑ lndlvlduai/sole proprietor or ❑✓ C Corporation ❑ S Corporation ❑ Partnership ❑ Trust estate certain entities, not Individuals; see 4)c single -member LLC instructions on page 3): ❑Limited liability company. Enter the tax classification C=C co Exempt payee coda (if any) Y p Y• (- corporation, S=S corporation, P=partnership) ► `o Note. For a single -member LLC that Is disregarded, do not check LLC; check the appropriate box in the fine above for Exemption from FATCA reporting v the tax classification of the single -member owner, code (11 any) pC c , ❑Other (see instructions) ► µaw+••ro. sm.n1xkWd0wsd•o„us.) It 5 Address (number, street, and apt, or suite no.) Requester's name and address (optional) 375 Park Avenue, 8th Floor 6 City, state, and ZIP code New York, NY 10152 7 List account number(s) here (optional) Taxpayer identification Number (TIN) Enter your TIN in the appropriate box. The TIN provided must match the name given on tine 1 to avoid Social security number backup withholding. For individuals, this is generally your social security number (SSN). However, for a resident alien, sole proprietor, or disregarded entity. see the Part I Instructions on page 3. For other entities, it is your employer identification number (EIN). If you do not have a number, see How to get a f TIN on page 3. or Note. If the account is In more than one name, see the instructions for line 1 and the chart on page 4 for Employer Identification number guidelines on whose number to enter. ff ii 1 3-I2I7I2I6I7I3I41 Jj= Certification Under penalties of perjury, I certify that: 1. The number shown on this form is my correct taxpayer Identification number (or I am waiting for a number to be issued to me); and 2. 1 am not subject to backup withholding because., (a) i am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that 1 am no longer subject to backup withholding; and 3. 1 am a U.S. citizen or other U.S. person (defined below); and 4. The FATCA code(s) entered on this form (if any) Indicating that i am exempt from FATCA reporting Is correct. Certification Instructions. You must cross out item 2 above If you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all Interest and dividends on your tax return. For real estate transactions, item 2 does not apply. For mortgage Interest paid, acquisition or abandonment of secured property, cancellation of debt, contributions to an Individual retirement arrangement (IRA), and generally, payments other than interest and dividends, you are not required to sign the certification, but you must provide your correct TIN. See the Instructions on page 3. Sign Signature of , Here U.S. person ► Date ► 16--1 -'-.fj1 General Instructions • Form 1098 (home mortgage Interest),1098-E (student loan Interest), 1098-T (tuition) Section references are to the Internal Revenue Code unless otherwise noted. Future developments. Information about developments affecting Form W-9 (such as legislation enacted after we release It) is at www.ft.gov11w9. Purpose of Form An Individual or entity (Form W-9 requester] who Is required to file an Information return with the IRS must obtafn your correct taxpayer Identification number (rtN) which may be your social security number (SSM. Individual taxpayer identification number (ITIN). adoption taxpayer identification number (ATIN). or employer identification number (EIN), to report on an information return the amount paid to you, or other amount reportable on an information return. Examples of information returns Include, but are not Cunited to, the following: • Form 1099-INT (Interest earned or paid) • Form 1099-DIV (dividends. Including those from stocks or mutual funds) • Form 1099-MISC (various types of Income, prizes, awards, or gross proceeds) • Form 1099-B (stock or mutual fund sales and certain other transactions by brokers) • Form 1099-S (proceeds from real estate transactions) • Form 1099-K (merchant card and third party network transactions) • Form 1099-C (canceled debt) • Form 1099-A (acquisition or abandonment of secured property) Use Form W-9 only If you are a U.S. person (Including a resident alien), to provide your correct TIN. If you do not return Form W-9 to the requester with.& TIN, you might be subject to backup witliftWing. See What Is backup withholding? on page 2. By signing the filled -out form, you: 1. Certify that the TIN you are giving is correct (or you are waiting for a number to be Issued), 2. Certify that you are not subject to backup withholding, or 3. Claim exemption from backup withholding if you are a U.S. exempt payee. It applicable. you are also certifying that as a U.S. person, your allocable share of any partnership Income from a U.S. trade or business is not subject to the withholding tax on foreign partners' share of effectively connected income, and 4. Certify that FATCA codes) entered on this form Of any) Indicating that you are exempt from the FATCA reporting. Is correct. See What Is FATCA rreparUng? on page 2 for further Information. Cat. No.10231 X Form W-9 (Rev.12-2014) M4TM COAST 0"rTAL ADVISORS, LP INVOICE 1600 Smith Street, Suite 3800 DATE: October 6, 2017 Houston, TX 77002 INVOICE # 2017-3 Phone 713-759-1400 Fax 713-759-1401 FOR: Management Fees Bill To: City of Sebastian Police Officers Retirement System 3040002617 Management Fee for the Quarter ending 9/30/2017 Quarter Ending Balances: 9/30/2017 $ 651,358.52 Annual Fee Rate 0.50% $ 660.28 TOTAL $ 660.28 Terms: Due on Receipt Make all checks payable to: Center Coast Capital Advisors, LP Wiring Instructions: /7 Wells Fargo �//� �� �U• O1 g Houston, TX G ABA 12tTo:248 Center For Credit To: Center Coast Capital Account # 5584460827 If you have any questions concerning this invoice, contact Billy Bauch, Chief Financial Officer by telephone at 713-759-1400 or by e-mail: billybauch@centercoastcap.com THANK YOU! November 9, 2017 '745-070 PEPSMS90000035- CITY OF SEBASTIAN POLICE ATTN: KENNETH KILLGORE 1225 MAIN ST. SEBASTIAN FL 32958 Graystone Consulting° A business of Morgan Stanley Invoice Number: 0101299 Graystone Consulting Tampa, FL Financial Advisor www.morganstanley.com IMPORTANT NOTICE JINVESTMENT ADVISORY FEE PAYMENT REQUIRED ACTION REQUIRED — PLEASE REMIT PAYMENT IN THE ENCLOSED BUSINESS REPLY ENVELOPE We value you as a client and thank you for the opportunity to serve your investment needs. Please see below for the investment advisory fee(s) due. ACCOUNT CLIENT NAME 745-038962 CITY OF SEBASTIAN POLICE Total Fee: Prior Balance: Net Amount: For additional details please see Invoice Detail and Remittance Instructions on pages to follow. Investments and services offered tbrou9b Morgan Stanley Smitb Barney LLC. Member S1PC. Graystone Consulting is a business of Morgan Stanley. TOTAL FEE AMOUNT $3,375.00 $3,375.00 $0.00 $3,375.00 1 Of 5 ADVISORY INVOICE DETAILS Account: 745-038962 Billing Period Number of Days Hard Dollar Fee Fee Amount Graystone ConsuhingSM A business of Morgan Stanley Invoice Number: 0101299 07/01/2017 — 09/30/2017 92 $13, 500.00 $3,375.00 3of5 Investments and services offered tbrough Morgan Stanley Smith Barney LLC. Member SIPC. Graystone Consulting is a business of Morgan Stanley. 000035 MSHSORA1 000105 THIS PAGE INTENTIONALLY LEFT BLANK 4 of 5 Christiansen & Dehner, P. A. 63 Sarasota Center Boulevard Suite 107 Sarasota, FL 34240- 941-377-2200 Phone Sebastian Police Officers' Retirement System ATTN: Ken Killgore 1225 Main Street Sebastian, FL 32958 .In Reference To: Police Pension Fund Professional Services 941-377-4848 Fax 0049 October 31, 2017 Invoice Number 31382 Hours Amount 10/11/2017 Preparation of revised Operating Rules and Procedures. 2.00 850.00 10/13/2017 Preparation of revised Summary Plan Description'incorporating all plan 3.00 1,275.00 amendments and updates, including PLOP, DROP, and buy -backs. 10/31/2017 Review and respond to e-mail from C. Watson. 0.20 85.00 For professional services rendered 5.20 $2,210.00 Previous balance $1,703.58 Balance due $3,913.58 Please note that the "Balance Due" figure at the end of this bill reflects both "Total New Charges - Current Period" and any previous balances due. In most cases, if the previous balance(s) have already been approved for payment but not yet received in our office, you should be paying only the "Total New Charges - for services and/or expenses". Thank you. Sebastian Police Officers' Retirement System October 31, 2017 In Reference To: Kenneth Johnson Disability Previous balance Balance due 1617 28101 Amount $87.15 $87.15 ** Please note that the "Balance Due" figure at the end of this bill reflects both "Total New Charges - Current Period" and any previous balances due. In most cases, if the previous balance(s) have already been approved for payment but not yet received in our office, you should be paying only the "Total New Charges - for services and/or expenses" . Thank you. Current 30 Days 60 Days 90 Days 120+ Days $0.00 $87.15 $0.00 $0.00 $0.00 Sebastian Police Officers' Retirement System October 31, 2017 .In Reference To: Steven R. Powell Disability File Professional Services 10/26/2017 Receipt and review of Independent Medical Examination. Correspondence to Board with signed Stipulation. 10/27/2017 Correspondence to Board and Claimant transmitting IME Report. For professional services rendered Additional Charges: 10/2/2017 United Parcel Service 10/6/2017 Independent Medical Examination fee Copies Postage 10/27/2017 Copies Copies Postage Postage Total additional charges Total amount of this bill Previous balance Balance due 1629 31383 Hours Amount 0.60 255.00 0.10 42.50 0.20 85.00 0.90 $382.50 KFA 1 88.41 1 2,000.00 1 0.25 1 0.46 40 10.00 4 1.00 1 1.74 1 0.92 $2,102.78 $2,485.28 $3,059.92 $5,545.20 "* Please note that the "Balance Due" figure at the end of this bill reflects both "Total New Charges - Current Period" and any previous balances due. In most cases, if the previous balance(s) have already been approved for payment but not yet received in our office, you should be paying only the "Total New Charges - for services and/or expenses" . Thank you. Please indicate account number(s) with payment. (Please Deduct any payments not reflected in Balance due) Christiansen & Dehner, P. A. 63 Sarasota Center Boulevard Suite 107 Sarasota, FL 34240- 941-377-2200 941-377-4848 Phone Fax Sebastian Police Officers' Retirement System ATTN: Ken Killgore 1225 Main Street Sebastian, FL 32958 Project Billing Summary October 31, 2017 Invoice Number Prev. Bal/ Payments/ New Chgs/ Fees/ Credits/ Pm/Cr/Ref/ Costs Refunds New Bal In Reference To: Police Pension Fund 0049 31382 $0.00 $1,703.58 $29210.00 $0.00 $2,210.00 $0.00 $0.00 $0.00 $3,913.58 In Reference To: Kenneth Johnson Disability 1617 28101 $0.00 $87.15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $87.15 In Reference To: Steven R. Powell Disability File 1629 31383 $0.00 $3,059.92 $382.50 $0.00 $2,485.28 $2,102.78 $0.00 $0.00 $5, 545.20 Sebastian Police Officers' Retirement System October 31, 2017 Payments/ Fees/ Credits/ Costs Refunds $0.00 $2,592.50 $0.00 $2,102.78 $0.00 GRAND TOTAL (current and previous balances) Please indicate account number(s) with payment. (Please Deduct any payments not reflected in Balance due) Prev. Be]/ New Chgs/ Pm/Cr/Ref/ New Bal $4,850.65 $4,695.28 $0.00 $9,545.93 Christiansen & Dehner, P. A. 63 Sarasota Center Boulevard Suite 107 Sarasota, FL 34240- 941-377-2200 Phone Sebastian Police Officers' Retirement System ATTN: Ken Killgore 1225 Main Street Sebastian, FL 32958 In Reference To: Police Pension Fund Professional Services 9/19/2017 Travel Time Preparation and attendance at Board Meeting. For professional services rendered Additional Charges: 9/19/2017 Car Expense Food Expense Total additional charges Total amount of this bill Balance due 941-377-4848 Fax 0049 September 30, 2017 Invoice Number 31261 Hours Amount 3.70 786.25 1.90 807.50 5.60 $1,593.75 Qty 1 104.33 1 5.50 $109.83 $1,703.58 $1,703.58 "* Please note that the "Balance Due" figure at the end of this bill reflects both "Total New Charges - Current Period" and any previous balances due. In most cases, if the previous balance(s) have already been approved for payment but not yet received in our office, you should be paying only the "Total New Charges - for services and/or expenses". Thank you. Sebastian Police Officers' Retirement System September 30, 2017 .In Reference To: Kenneth Johnson Disability 1617 28035 Amount Previous balance $87.15 Balance due $87.15 ** Please note that the "Balance Due" figure at the end of this bill reflects both "Total New Charges - Current Period" and any previous balances due. In most cases, if the previous balance(s) have already been approved for payment but not yet received in our office, you should be paying only the "Total New Charges - for services and/or expenses" . Thank you. Sebastian Police Officers' Retirement System September 30, 2017 In Reference To: Steven R. Powell Disability File 1629 Professional Services 9/5/2017 Receipt and partial review of medical records. 9/21 /2017 Receipt and partial review of medical records. 9/27/2017 Stipulation for Continuance. 9/29/2017 Arrange Independent Medical Evaluation (IME) and transmittal of records. Correspondence to Claimant to attend IME and transmit records. Correspondence to Board to give notice of IME appointment and transmit records for distribution to the Board; assemble records. For professional services rendered Additional Charges: 9/22/2017 Copies 9/27/2017 Copies Copies Postage Total additional charges Total amount of this bill Balance due 31262 Hours Amount 0.30 127.50 1.80 765.00 0.30 127.50 1.00 425.00 0.40 170.00 1.00 425.00 4.80 $2, 040.00 Qty 362 90.50 4 1.00 3,710 927.50 1 0.92 $1,019.92 $3,059.92 $3,059.92 Please note that the "Balance Due" figure at the end of this bill reflects both 'Total New Charges - Current Period" and any previous balances due. In most cases, if the previous balance(s) have already been approved for payment but not yet received in our office, you should be paying only the "Total New Charges - for services and/or expenses". Thank you. Please indicate account number(s) with payment. (Please Deduct any payments not reflected in Balance due) Christiansen & Dehner, P. A. 63 Sarasota Center Boulevard Suite 107 Sarasota, FL 34240- 941-377-2200 Phone Sebastian Police Officers' Retirement System ATTN: Ken Killgore 1225 Main Street Sebastian, FL 32958 Project Billing Summary In Reference To: Police Pension Fund In Reference To: Kenneth Johnson Disability 941-377-4848 Fax September 30, 2017 Invoice Number Prev. Ball Payments/ New Chgs! Fees/ Credits/ Pm/Cr/Ref/ Costs Refunds New Bal 0049 31261 $0.00 $0.00 $19693.75 $0.00 $1,703.58 $109.83 $0.00 $0.00 $1,703.58 1617 28035 $0.00 $87.15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $87.15 In Reference To: Steven R. Powell Disability File 1629 31262 $0.00 $0.00 $2,040.00 $0.00 $3,059.92 $19019.92 $0.00 $0.00 $3,059.92 Sebastian Police Officers' Retirement System September 30, 2017 Prev. Ball Payments/ New Chgs/ Fees/ Credits/ Pm/Cr/Ref/ Costs Refunds New Bal $3,633.75 $0.00 $87.15 $0.00 $4,763.50 $1,129.75 $0.00 $0.00 GRAND TOTAL (current and previous balances) Please indicate account number(s) with payment. (Please Deduct any payments not reflected in Balance due) $4,850.65 Christiansen & Dehner, P. A. 63 Sarasota Center Boulevard Suite 107 Sarasota, FL 34240- 941-377-2200 Phone Sebastian Police Officers' Retirement System ATTN: Ken Killgore 1225 Main Street Sebastian, FL 32958 .In Reference To: Police Pension Fund Previous balance Accounts receivable transactions 8/29/2017 Payment - thank you. Check No. 31674 Total payments and adjustments Balance due 941-377-4848 Fax 0049 August 31, 2017 Invoice Number 27959 Amount $127.50 ($127.50) ($127.50) $0.00 ** Please note that the "Balance Due" figure at the end of this bill reflects both "Total New Charges - Current Period" and any previous balances due. In most cases, if the previous balance(s) have already been approved for payment but not yet received in our office, you should be paying only the "Total New Charges - for services and/or expenses". Thank you. I Sebastian Police Officers' Retirement System August 31, 2017 .In Reference To: Kenneth .Johnson Disability Professional Services 8/18/2017 Correspondence to Claimant with copy of file. For professional services rendered Additional Charges: 8/18/2017 Copies Postage Total additional charges Total amount of this bill Previous balance Accounts receivable transactions 8/29/2017 Payment - thank you. Check No. 31674 Total payments and adjustments Balance due 1617 31141 Hours Amount 0.20 85.00 0.20 $85.00 Qty 2 0.50 1 1.65 $2.15 $87.15 $85.00 ($85.00) ($85.00) $87.15 "* Please note that the "Balance Due" figure at the end of this bill reflects both "Total New Charges - Current Period" and any previous balances due. In most cases, if the previous balance(s) have already been approved for payment but not yet received in our office, you should be paying only the "Total New Charges - for services and/or expenses" . Thank you. Sebastian Police Officers' Retirement System August 31, 2017 In Reference To: Steven R. Powell Disability File Previous balance Accounts receivable transactions 8/29/2017 Payment - thank you. Check No. 31674 Total payments and adjustments Balance due 1629 27960 Amount $387.32 ($387.32) ($387.32) $0.00 Please note that the "Balance Due" figure at the end of this bill reflects both "Total New Charges - Current Period" and any previous balances due. In most cases, if the previous balance(s) have already been approved for payment but not yet received in our office, you should be paying only the "Total New Charges - for services and/or expenses". Thank you. Please indicate account number(s) with payment. (Please Deduct any payments not reflected in Balance due) Christiansen & Dehner, P. A. 63 Sarasota Center Boulevard Suite 107 Sarasota, FL 34240- 941-377-2200 Phone Sebastian Police Officers' Retirement System ATTN: Ken Killgore 1225 Main Street Sebastian, FL 32958 Project Billing Summary .In Reference To: Police Pension Fund .In Reference To: Kenneth Johnson Disability 941-377-4848 Fax August 31, 2017 Invoice Number Prev. Ball Payments/ New Chgs/ Fees/ Credits/ Pm/Cr/Ref/ Costs Refunds New Bal 0049 27959 ($127.50) $127.50 $0.00 $0.00 $0.00 $0.00 $0.00 ($127.50) $0.00 1617 31141 ($85.00) $85.00 $86.00 $0.00 $87.15 $2.15 $0.00 ($85.00) $87.15 .In Reference To: Steven R. Powell Disability File 1629 27960 ($387.32) $387.32 $0.00 $0.00 $0.00 $0.00 $0.00 ($387.32) $0.00 Sebastian Police Officers' Retirement System August 31, 2017 Payments/ Fees/ Credits/ Costs Refunds $85.04 ($599.82) $0.00 $2.15 $0.00 GRAND TOTAL (current and previous balances) Please indicate account number(s) with payment. (Please Deduct any payments not reflected in Balance due) Prev. Ball New Chgs/ Pm/Cr/Ref/ New Bal $599.82 $87.15 ($599.82) $87.15 Kenneth Killgore From: Kenneth Killgore Sent: Thursday, November 16, 2017 2:27 PM To: Mallory Parsons Subject: Sebastian Police Pension Trust Payment Attachments: MX-4140N 20171116 134245.pdf Mallory: Attached is a pdf with the supporting documents for a payment to the City needed from the Sebastian Police Pension Trust Account. This is to reimburse the City for charges that were invoiced to and paid to the vendors by the City of Sebastian, which were for items that benefited the Police Pension Plan. The invoices are included in the attached pdf. Please process one payment for the below total to the City of Sebastian,1225 Main Street, Sebastian FL 32958. Municipal Code Corporation $ 598.20 Administrative Solutions 128.00 Travelers Insurance 2,685.00 Reimbursement Due the City of Sebastian $ 3,411.20 Thank you. Ken Killgore Administrative Services Director City of Sebastian rr''1 UU O C Municipal Code Corporation INVOICE CONNECTING n'cold8 YOUR COMMUNITY 1800 62.664926 2235 Tallahassee, FL 32316 Bill To Sebastian, Florida lnvoice Number 00297815 1225 Main Street Sebastian, FL 32958- lnvoice Date 110/25/2017 IPO Number I I CustomerIdI10-4287 (Payment Terms INet30 Shipped - Description - - - Unit Price Extended Price .__. .. ,._ _.... 52 �UPPLEMENTPAGES $19.940 $1,036.88. 40 COPIES OF SUPPLEMENT NO 63 TO THE CODE OF ORDINANCES o-/ 7-oz j ACCOUNT: [9 I n U G g 5 3 3 yq, O P.O. #: I PROJECT #: , AMOUNT: $ �.�0 . ,�.� J& I DATE: / 1 — — 1 � fDEFT HEA . " Subtotal $1,036.88 Discount $0.00 Freight $11.65 Tax $0.00 Total $1,048.53 Please remit one copy with payment Page 1 m u n i c o d e I PFMO 9 06490a 6hassceuFL 32316 CONNECTING YOU 8 YOUR COMMUNITY 800262.2633 Bill To: Sebastian, Florida 1225 Main Street Sebastian, FL 32958- Shipped Description 52 SUPPLEMENT PAGES 40 COPIES OF SUPPLEMENT NO 63 TO THE CODE OF ORDINANCES Ke,n �.30 4-ke-, re-Vt c n5 f-(cw Goo ctit -f-(n e y �06LY 559R,Zo anc� l� �:=✓lt"� 1'� �l"� i G�`1f �i"r�i� SiCn? Invoice Number Invoice Date PO Number Customer Id Payment Terms U- C 1,03o•d3 = 52- Pe'r p -3 - 0. c 13.94 x P4SL�-T 3o• = fe4Qrdi nj 5�i•2 Police 0• C 0• c 593•'2 = —�iLL50.33 fl, -I- C C ran 1v1- yyhH Subtotal Discount Freight Tax Total INVOICE 00297815 10/25/2017 10-4287 Net 30 Unit Price Extended Price $19.940 $1,036.88 $1,036.88 $0.00 $11.65 $0.00 $1,048.53 ;e remit one copy with payment Page 1 9/1S Administrative Solutions, Inc. 6106 River Run Drive Sebastian, FL 32958 772-388-2457 City of Sebastian Attn: Jeanette Williams, City Clerk 1225 Main Street Sebastian, FL 32958 Description of Services Rendered Minutes Preparation Budget Review 7/31/17 Natural Resources 6/6/17 Police Pension Board SP 7/20/17 Police Pension Board SP 6/28/17 Police Pension Board REG 6/20/17 INVOICE 9/1 /2017 Pages @ $16/pg Total Invoice] 4.00 $64.00 3.00 $48.00 2.00 $32.00 3.00 $48.00 3.00 $48.00 UDJ�nJ - yISUoJ'_�_Y IZ4.C1) PLA Total Due This Invoice $240.00 .Cif.Yr.nixln�il�..aWrabeuuYaYln,nx:bra:he.a.71e1.reYur.YdYl� IAW*44011!M:L:wr!Mi•TN:Yerd:WlY.\.LYhY CITY OF 095402 63-515 BE o ASTUR I CITY OF SEBASTIAN Seacoast CHECK NO. 67D 1225 MAIN STREET NATIONAL BANK 95402 `� SEBASTIAN, FL 32958 -�`w' _ �:— - GENERAL ACCOUNT HOME OF PELICAN ISLAND VENDOR CHECK DATE CHECKAMOUNT 1351 09/15/201' $240.0 ********240 DOLLARS AND NO CENTS PAY Administrative Solutions, Inc. VOID IF NOT PAID WITHIN 90 DAYS 6106 River Run Drive TO THE Sebastian 32958 ORDER ✓ ORDER OF —��" nV O IG A RED 'I'D9540211' 1:057005b581: 43 27 10388i11' 95402 - ;ITY OF SEBASTIAN SEBASTIAN, FL 32958 091517 095402 INVOICE DATE " INVOICENUMBER INVOICE DESCRIPTION v NET INVOICE AMOUNT P NO O VUU[:kMR' 09/01/17 9/1/17 Budget, Pension, Natural 240.00 121219 1353 Administrative Solutions, Inc. 240.00 95402 TRAVELERS October 12, 2017 Jonathan Jallad LSJ INSURANCE AGENCY INC 1353 PALMETTO AVE WINTER PARK, FL 32789 This is a Direct Billed Policy. The DB # is 9860K9214. Direct Bill Pay Option: Lump Sum This is a Renewal for Sean P McCann 2420 Lakemom Ave. ORLANDO, FL 32814 (407)388-3262 (800)330-3109 SPMCCANN@travelers.com CITY OF SEBASTIAN POLICE OFFICERS' RETIREMENT SYSTEM 1201 MAIN STREET SEBASTIAN, FL 32958 Brand Type: Wrap+ -for Governmental Plans Policy Number: 106195885 Commission: 12.50 % Policy Period: November 1, 2017 to November 1, 2020 Billing Period: November 1, 2017 to November 1, 2020 Transaction Effective Date: November I, 2017 Coveraee LIM11 Retention Designated Benefit Plan Fiduciary $1,000,000 $0 19705Mr 1711ff". M Year 1 Year 2 Year 3 9,0 Surcharge: $0.00 Tax: $0.00 $0.00 $0.00 $0.00 $0.00 Combined Premium: $2,685.00 $2,685.00 52,685.00 1 i Combined Premium includes Waiver of Recourse Premium of $100 per annual term, paid from funds other than plan assets Thank you for placing your business with us. PE-100 Rev. 11-13 TRAVELERSJR LSJ INSURANCE AGENCY INC 1353 PALMETTO AVE WINTER PARK FL 32789 03958 -L3 CITY OF SEBASTIAN POLICE OFFICERS' RETIR 1201 MAIN STREET SEBASTIAN FL 32958 Account Name CITY OF SEBASTIAN POLICE OFFIC ACCOUNT BILLING SUMMARY POLICY PRINCIPAL/INSURED POLICY PERIOD 0106195885 LB CITY OF SEBASTIAN POLICE 0 11/01/17 TOTAL BALANCE TRANSACTIONS SINCE LAST STATEMENT Total Transactions (See Transaction Detail Section) TOTAL BALANCE TRANSACTION DETAIL POLICY NUMBER 0106195885 LB Liability 11/01/17 Renewal TOTAL TRANSACTIONS CONTINUED ON NEXT PAGE Page 01 of 03 Account Bill Account No. 986OK9214 Date of This Bill 10/23/17 TOTAL BALANCE $2,685.00 MINIMUM DUE $2,685.00 PAYMENT MUST BE RECEIVED BY: NOVEMBER 12, 2017 MIN. DUE $2,685.00 $2,685.00 BALANCE CO $2,685.00 12 $2,685.00 +2,685.00 $2,685.00 2,685.00 ;2,685.00 LTRAVELERS CLt REMITTANCE ach the nCENTER,t coupon aPO BOX 660317nd mail with your �aDALLAS,yment in hTX 75266-0317 enclosed -envelope, 648842H 2O17296 9000 247 ODFG24 Payment Coupon Make checks payable to: TRAVELERS LSJ INSURANCE AGENCY INC Include Account Number on the check. CITY OF SEBASTIAN POLICE OFFIC 9 86 0 K 9 214 Change of Address? TOTAL BALANCE Place an ' X' here. 02,685.00 Print changes on reverse side. MINIMUM DUE PAYMENT MUST BE RECEIVED BY $2, 685.00 TRAVELERS CL REMITTANCE CENTER NOVEMBER 12, 2017 PO BOX 660317 AMOUNT ENCLOSED DALLAS, TX 75266-0317 IIIi.III„II,.IIIIIIIiII,II.,II.,I.I„IIII„I,.Illllllilllll 9939383630113932313440393939393800026850000026850086 PL-9837 Page 02 of 03 Customer Service Contacts Billing Questions . MONDAY-FRIDAY, 7:00 A.M. - 8:00 P.M. EST Your Account Number: 9860K9214 Automated Inquiry: 24 hrs a day, 7dap a week Polic v Ou estions LSJ INSURANCE AGENCY INC Claim Questions BUSINESS INSURANCE CONSTRUCTION NATIONAL ACCOUNTS BOND & FINANCIAL PRODUCTS Code Insuring Company 12 TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA 800-252-2268 800-252-2268 407-644-4423 800-238-6225 800-828-4132 800-832-7839 800-842-8496 CLDBBIL1 Account Name CITY OF SEBASTIAN POLICE OFFIC Account No. 9860K9214 Page 03 of 03 Date of This Bill: 10/23/17 SPECIAL MESSAGES Hassle Free Payments - Call 877-307-4202 to make a quick and simple payment. For all other customer service inquiries (other than making a payment) please call 800-252-2268. You must pay at least the minimum due or up to the total balance due. If at any time you pay us more than the minimum due, and it covers your future installments, you will not receive a bill or be charged an installment charge. If you pay by installments, a charge will be added to each installment bill. The installment charge is calculated at a rate of of interest not to exceed 18 percent simple interest per year on the unpaid balance. The charge per installment will not be more than $3.00. If your payment is not received by the due date WE HAVE THE RIGHT, WITHOUT ADVANCE NOTICE TO YOU, TO TERMINATE YOUR OPTION TO PAY IN INSTALLMENTS AND TO REQUIRE FULL PAYMENT OF THE OUTSTANDING BALANCE ON YOUR POLICY. WE ALSO HAVE THE RIGHT TO ASSESS A LATE FEE OF $10.00. Make payments on-line! With our on-line payment options you can make single payments or you can schedule Automatic Recurring Payments. It's fast and easy, enroll today! To learn more visit our website - https://selfservice.travelers.com/business/registration. If you are paying with a check from a Personal Checking Account, you either use information from your check to make a one-time electronic your account or to process the payment as a check. If you are paying Business Checking account, we will process the payment as a check. authorize us to funds transfer from with a check from a 648842H 2O17296 9000 247 ODFG24 CLDBILL2 TRAVELERSJ� IMPORTANT NOTICE FOR TRAVELERS POLICYHOLDERS Dear Policyholder: The information provided in this letter answers many of the common questions our insureds have. If you have further questions, please feel free to contact us at 1.800.252.2268. We appreciate your loyalty and your business! To whom do I make the check payable? Please make your check payable to Travelers. Mail it with the return stub in the envelope pro vided.By including the return stub, you can ensure prompt application of your payment. Where should I send my payment? Please write your account number on your check or money order and send it with the return stub in the envelope provided to: Travelers PO Box 660317 Dallas, TX 75266-0317 Note: In order to ensure prompt and accurate payment application, return stubs should be included with payment. Is on-line billing and payment available? Yes. We offer on-line billing and payment options as well as an Automatic Recurring Payment option. For more information and to enroll, visit https://selfservice.travelers.com/business/registration Can I pay by phone? Yes. Have your account or policy number along with your bank information ready and call the automated attendant at 1.800.252.2268. Will I incur an installment charge? Possibly. Installment bills in most states have a low, flat fee of six dollars for regularly scheduled installments. However, you can make additional payments or pay your account in full at any time to avoid incurring installment charges or penalties. - -- — Who should I call with questions? Contact your agent if you have questions about your coverages, premium amounts, or pending changes. For questions about payments received or the amount due, contact your agent or call us at 1.800.252.2268. Please have your account number ready when you make that call. What if I change my billing mailing address? Please contact your agent with all address changes and any future policy changes. Your agent contact information is on the back of your billing statement. Will I be billed a late fee? If a Direct Notice of Cancellation for non-payment is issued, a $10.00 late fee will be assessed (in most states). CLDBST02 Please call us with any questions at 1.800.252.2268 We appreciate your business! Kenneth Killgore From: Kenneth Killgore Sent: Wednesday, November 29, 2017 2:18 PM To: 'stcdrfldops@salemtrust.com' Subject: Sebastian Police Pension Plan Trust Attached is a pdf with the supporting documents for a payment needed from the Sebastian Police Pension Trust Account. Please process the attached invoice for payment to the vendors shown. Boston Partners $1,453.65 Thank you. Ken Killgore Administrative Services Director City of Sebastian Period Market Values (USD) City of Sebastian Police Officers' Retirement System - 00844 Monthly Values 07/31/2017 Market Value 08/31/2017 Market Value 09/30/2017 Market Value Average for Period Annual Fee Schedule (IMFEE - USD) 0.00 to 25,000,000.01 and above Quarterly Fee Calculation (IMFEE - USD) 671,623.09 * 100.00 BPS Fee Details: Total IMFEE (00844) Fee Total: Invoice Summary Fee Totals: 672,063.04 654,230.28 688,575.95 25,000,000.00 79 ! 365 - Schedule Total: Fee Total For IMFEE: Total Amount Due: 672,063.04 654,230.28 688,575.95 $ 671,623.09 100.00 BPS 80.00 BPS 1,453.65 $1,453.65 1,453.65 $1,453.65 1,453.65 $ 1,453.65 City of Sebastian Debbie Krueger 1225 Main Street Sebastian, FL 32958 51 AN SALEMTRUST Fee Advice for Period April 1, 2017 Detail of Calculation: July 6, 2017 A/C #3040031435 Sebastian Police to June 30, 2017 Annual Fee Quarterly Fee Flat Fee $5,000.00 $1,250.00 $5.00 Security Transactions Current Period Year To Date 9/30/2016 145 145 $5.00 12/31 /2016 249 394 3/31 /2017 77 471 6/30/2017 278 749 (300 included in annual fee) $1,390.00 Total $2,640.00 Total Amount Due $2,640.00 These fees will automatically be charged to your account. If you have any questions, please contact Mindy Johnson at 813.288.4990 DEERFIELD BEACH TAMPA 1715 N. WESTSHORE BLVD., SUITE 750 TAMPA, FL 33607 TEL (877) 382-5268 FAX (813)301-1295 wumsolemtrust.com City of Sebastian Debbie Krueger 1225 Main Street Sebastian, FL 32958 b SALEMTRUST C O M P A N Y Fee Advice for Period July 1, 2017 Detail of Calculation: Flat Fee $500 for 6 additional accounts $5.00 Security Transactions Current Period 9/30/2017 12/31 /2017 3/31 /2018 6/30/2018 (300 included in annual fee) 785 October 4, 2017 M05348 Sebastian Police to September 30, 2017 Annual Fee Quarterly Fee $5,000.00 $1,250.00 $3,000.00 $750.00 Year To Date 1085 $5.00 1085 1085 1085 $3.925.00 Total $5,925.00 Total Amount Due $5,925.00 These fees will automatically be charged to your account. If you have any questions, please contact Mindy Johnson at 813.288.4990 DEERFIELD BEACH TAMPA 1715 N. WESTSHORE BLVD., SUITE 750 TAMPA, FL 33607 TEL (877) 382-5268 FAX (813)301-1295 www.salemtmst.com FOSTER & FOSTER AND CONSULTANTS Phone: (239) 433-5500 Fax: (239) 481-0634 data@foster-foster.com www.foster-foster.com City of Sebastian Police Officers' Retirement System 1225 Main Street Sebastian, FL 32958 Invoice "11/224120]r7l1453 Net 30 112/24/2017 Preparation of funding requirements letter dated September 26, 2017 for fiscal year ending September 125.00 30, 2017. Annual online benefit calculator fee commencing November 1, 2017 ($16 * 32 active members). 512.00 Preparation and submission of the October 1, 2017 Actuarial Valuation and Report. 7,658.00 Electronic filing of 10/1/2017 valuation report to the Division of Retirement. 750.00 Preparation of GASB 67 Statement with measurement date of 09130/17. 1,250.00 Preparation of GASB 68 Statement with measurement date of 09/30/17. 2,000.00 Balance Due $12,295.00 Thank you for your business! Please make all checks payable to: Foster & Foster, Inc. 13420 Parker Commons Blvd, Suite 104 Fort Myers, FL 33912 CITY OF SEBASTIAN POLICE OFFICERS' PENSION PLAN CALENDAR OF BOARD ACTIVITIES — Updated August 2017 JANUARY: No Board activity. FEBRUARY: No Board activity. MARCH: 1st Quarter Board Meeting: • Update and Review Calendar of Activities. • Request update of Summary Plan Description (every two years). • Investment Report and Performance Review. • Receive Annual Report to Division of Retirement. APRIL: No Board activity. MAY: No Board activity. JUNE: 2"d Quarter Board Meeting: • Review Calendar of Board Activities. • Investment Report and Performance Review. • Select Board Chairperson and Secretary (every two years). • Approve and Distribute to Members the Summary Plan Description (if needed). JULY: Board Members should file Financial Disclosure forms by Julylst. AUGUST: Receive State premium tax monies. SEPTEMBER: • 3rd Quarter Board Meeting: • Agree on Quarterly Meeting dates for following year. • Review Calendar of Board Activities • Approve Election Process for Police Officer Members (if needed). • Select Board appointed Member and request City Council confirmation (if needed). • Investment Report and Performance Review. • Receive Report on Determination and Disclosure of Illiquid Assets/Securities. • Report on year-to-date expenses and approve budget for the next year. OCTOBER: No Board activity. NOVEMBER: No Board activity. DECEMBER: • 4tn Quarter Board Meeting: • Review Calendar of Board Activities. • Consider changes to Operating Rules (if needed). • Report on Actual Operating Expenses for the year. • Investment Report and Performance Review. • Update Investment Policy and Allocation Strategy. • Accept the Actuarial Report. • Approve Expected Rate of Return. • Confirm renewal of liability Insurance Policy. Page 1 of 1 FLORIDA DEPARTMENT OF MANAGEMENT SERVICES m5 retirement We zwe �heze whe serve florfEa Rick Scott. Governor Bureau Local Retirement Systems Municipal Police Officers' & Firefighters' Trust Funds' Office P.O. Box 3010 Tallahassee, FL 32315-3010 Tel: 850.922.0667 1 Fax: 850-921-2161 1 Toll -Free: $77-738-6737 November 2, 2017 Ms. Mindy Johnson, Plan Administrator Sebastian Police Officers' Retirement Trust Fund Salem Trust Company 1715 N. Westshore Blvd., #750 Tampa, FL 33607 Re: City of Sebastian Police Officers' Retirement Trust Fund 10/1/2016, 10/1/2015 and 10/1/2014 Actuarial Valuations Dear Ms. Johnson: Erin Rock Secretary This is to notify you that we have reviewed the above referenced actuarial reports for compliance with Part VII of Chapter 112, F.S. and Chapter 60T, F.A.C. Based upon the results of our review of these reports, we have determined the Plan to be state accepted. By this letter, all reports and actuarial impact statements effective prior to the above valuation date and received by the Division of Retirement may likewise be considered to be state accepted. Our review relied upon the actuarial costs and asset amounts as determined by the Plan actuary in the above referenced actuarial reports. Although we reviewed the reports for compliance, consistency and reasonableness, we did not audit the asset or employee data information for accuracy. Accordingly, we express no opinion on the reasonableness of the estimates of the financial status of the Plan. An audit may or may not uncover material issues in the actuarial work performed. Sincerely, U ) 4 'L Jose h M. Edmonds, FSA, EA, FICA, MAAA Actuary Florida Division of Retirement cc: Doug Lozen, EA Steven Marcinik, Chairman ✓ Sara Carr. Division of Retirement City Name: SEBASTIAN Plan Type: Police Plan Name: City of Sebastian Police Officers' Retirement System Business Title Name Address Email Address Telephone Board Mr. Steven Marcinik 1225 Main Street smarcinik@cityofsebastian.org (772) 473-0118 Chairman Sebastian, FL 32958 Board Mr. Robert Zomok 1225 Main Street zomrjz@aol.com (772) 388-9339 Secretary Sebastian, FL 32958 Administrator Ms. Mindy Johnson 1715 N. Westshore Blvd., #750 Mindy.Johnson@salemtrust.com (877) 382-5268 Salem Trust Company Tampa, FL 33607 Actuary Mr. Douglas H. Lozen 13420 Parker Commons Blvd., Suite 104 doug.lozen@foster-foster.com (239) 433-5500 Foster and Foster, Inc. Fort Myers, FL 33912 CPA Mr. Ross Cotherman 5070 N. Highway A1A, Suite 250 ross.cotherman@rehmann.com (772) 234-8485 Rehman, Robson Vero Beach, FL 32963 Performance Mr. Scott Owens 100 N. Tampa Street, Suite 3000 scott.owens@msgraystone.com (800) 282-0655 Evaluator Graystone Consulting Tampa, FL 33602 Mayor Mr. Richard Gillmor 1225 Main Street rgillmor@cityofsebastian.org (772) 584-4799 Sebastian, FL 32958-4165 Finance Director Attorney Mr. H. Lee Dehner 63 Sarasota Center Boulevard, Suite 107 lee@cdpension.com (941) 377-2200 Christiansen & Dehner, P.A. Sarasota, FL 34240 To ensure timely communications, we strive to maintain up-to-date contact information for Florida's local government pension plans. Please help us maintain accurate records by reviewing the above detail and providing any updated or missing information to our office at local—ret@dms.myflorida.com. Thank you for your assistance. Date prepared: 11/2/2017 Kenneth Killgore From: Sent: To: Cc: Subject: Attachments: Good afternoon, Ken. Kristin <kristin@cdpension.com> Thursday, November 09, 2017 3:18 PM Kenneth Killgore Doug Lozen Sebastian Police Pension Plan - Summary Plan Description 10-13-17.spd.pdf Attached please find a revised Summary Plan Description for the Sebastian Police pension plan. This document should be copied and distributed to each member of the Board for review and approval at the next board meeting. Upon approval, a copy must be provided to each active member of the plan. By copy of this email to the Board's actuary, we request they provide you with an updated Exhibit "B" to attach to the revised Summary Plan Description prior to duplication and distribution. Regards, 1� " Legal Assistant to Lee Dehner Christiansen & Dehner, P.A. 63 Sarasota Center Blvd., Ste 107 Sarasota, Florida 34240 Phone: 941-377-2200 E-Mail: kristin(a,cdpension.com 1 CITY OF SEBASTIAN POLICE OFFICERS' RETIREMENT SYSTEM SUMMARY PLAN DESCRIPTION December 1, 2017 IS YOUR BENEFICIARY FORM CURRENT? IN THE EVENT YOU DIE, YOUR BENEFIT OR CONTRIBUTIONS WILL BE DISTRIBUTED TO THE PERSON OR PERSONS DESIGNATED BY NAME ON THE BENEFICIARY FORM ON FILE WITH THE PENSION PLAN. NO PROVISION IN YOUR LAST WILL AND TESTAMENT WILL CHANGE THIS SELECTION. PLEASE BE SURE THAT YOUR BENEFICIARY FORM DESIGNATES THE PERSON OR PERSONS YOU INTEND TO RECEIVE YOUR BENEFITS AND THAT YOU REVIEW THIS CHOICE IN THE EVENT OF A MAJOR LIFE CHANGE SUCH AS A DIVORCE OR THE DEATH OF YOUR BENEFICIARY. CITY OF SEBASTIAN POLICE OFFICERS' RETIREMENT SYSTEM SUMMARY PLAN DESCRIPTION INTRODUCTION The Board of Trustees of the City of Sebastian Police Officers' Retirement System is pleased to present this booklet which briefly explains the provisions of your Police Officers' Pension Plan. As a participant in the Fund, you are included in a program of benefits to help you meet your financial needs at retirement, or in the event of disability or death. This booklet can assist you in preparing for your retirement and financial future. If you need further information on any of the topics presented in this booklet, please contact any member of the Board of Trustees. They will either answer questions you might have to help you understand your benefits or otherwise get you an answer to your questions. We urge you to read and understand this booklet in order to become familiar with the benefits of the plan and how they contribute to your financial security and how they will enrich your retirement years. The information presented is only a summary of the pension plan ("Plan") as provided in the ordinances of the City of Sebastian. If there are any conflicts between the information in this booklet and the ordinances of the City of Sebastian, the ordinances shall govern. The provisions of this Summary Plan Description shall not constitute a contract between the Member and the Board of Trustees. The plan shall be administered in accordance with state and federal law, notwithstanding any provisions in this booklet or ordinances to the contrary. A copy of the ordinance establishing the Plan can be obtained from the City Clerk's office, which is located at 1225 Main Street, Sebastian, Florida, 32958. Chairman, Board of Trustees, City of Sebastian Police Officers' Retirement System Date 1. BOARD OF TRUSTEES AND PLAN ADMINISTRATION A. Administration. (1) The City of Sebastian Police Officers' Retirement System is a defined benefit pension plan administered by a Board of Trustees which acts as the administrator of the Plan. The Board consists of 5 Trustees, 2 of whom shall be legal residents of the City who are appointed by the City Council, 2 of whom are Members of the System who are elected by a majority of the Police Officers who are Members of the System and a fifth Trustee who is chosen by a majority of the first 4 Trustees. Each Trustee serves a four year term. (2) DROP participants can be elected as but not vote for elected trustees. B. The names and addresses ofthe current Trustees, Plan Administrator and Plan Custodian are attached to this Summary Plan Description as Exhibit "A". The Chairman of the Board is designated as agent for the service of legal process. 2. ELIGIBILITY FOR PLAN MEMBERSHIP Each person employed by the City Police Department as a full-time Police Officer becomes a member of the System as a condition of his employment. All Police Officers are therefore eligible for plan benefits as provided for in the plan document and by applicable law. 3. PLAN BENEFITS All claims for benefits under the System shall be made in writing to the Board. A. Normal Retirement Eligibility. You are eligible for retirement upon the attainment of age 55 and the completion of 10 years of credited service or the attainment of age 52 and the completion of 25 years of credited service. B. Amount of Normal Retirement Benefits. The amount of the normal retirement benefit is based on your credited service and average final compensation: "Credited Service" is generally your period of employment as a Police Officer in the Police Department measured in years and parts of years. Credited service will include credit for up to five years for a break in employment for military service, pursuant to conditions provided for under state or federal law, provided that you are reemployed within 1 year of discharge under honorable conditions. Additional credited service time may also be available (See subsection M. below). "Average Final Compensation" is 1/12 of your average salary of the 5 best years of the last 10 years of credited service prior to your termination, retirement or death. A year is defined as 12 consecutive months. "Salary" means the total compensation for services rendered to the city as a police officer reportable on the member's W-2 form plus all tax deferred, tax sheltered, or tax exempt items of income derived from elective employee payroll deductions or salary reductions but excluding accrued sick leave and vacation pay. For service earned on or after July 1, 2011, Salary shall not include more than 300 hours of overtime per calendar year. Provided however, in any event, payments for overtime in excess of 300 hours per year accrued as of July 1, 2011 and attributable to service earned prior to the July 1, 2011, may still be included in Salary for pension purposes even if the payment is not actually made until on or after July 1, 2011. In any event, with respect to unused sick leave and unused annual leave accrued prior to July 1, 2011, Salary will include the lesser of the amount of sick or annual leave time accrued on July 1, 2011 or September 6, 2013, whichever is less. Should the sick leave or the annual leave accruals decrease below the capped amount, accruals used for the pension calculation shall not increase and the lower accrual amount will be used in the pension calculation formula based on the rate of pay in effect on July 1, 2011. If you were hired prior to October 1, 2011 and retire on or after your normal retirement date the normal retirement benefit is calculated by multiplying 3% times years of credited service times your average final compensation. If you were hired on or after October 1, 2011 and retire on or after your normal retirement date the normal retirement benefit is calculated by multiplying 2% times years of credited service times your average final compensation for the years of credited service beginning on or after April 1, 2012 and ending October 1, 2016 and by multiplying 3% times years of credited service times your average final compensation for all credited service before April 1, 2012 and after October 1, 2016. Normal and early retirement payments will commence on the first day of the month coincident with or next following your last day of employment. Early retirees may defer the commencement of benefits. The benefit is paid to you for your life, but you or your beneficiary shall receive at least 120 monthly benefit payments in any event. Each vested Plan Member shall be entitled, at the Fund's expense, to receive two actuarial studies (one preliminary and one final) to estimate his or her retirement benefits. Any additional studies shall be provided only at the Member's expense. C. Early Retirement. You are eligible for early retirement upon the attainment of age 50 and the completion of 10 years of credited service. D. Amount of Early Retirement Benefits. The amount of the early retirement benefit is calculated in the same manner as for normal retirement and is available as follows: (1) Beginning on the date on which you would have qualified for normal retirement; or (2) Beginning immediately upon retirement, but if beginning immediately, the amount of the monthly benefit is actuarially reduced to take into account your credited service to your date of actual retirement and your average final compensation which amount shall be actuarially reduced to take into account your younger age and the earlier commencement of earlier retirement income payments. In no even shall the early retirement reduction exceed 3% for each year by which your age at retirement preceded your early retirement age. (3) Your retirement income will be reduced for monies received under the disability provisions of the plan. E. Supplemental Benefit - Share Plan. Pursuant to Florida law, there has been a separate member "share account" created for each member of the plan. This supplemental benefit may or may not be funded and thus, you may or may not receive a retirement benefit from the share plan. If the share plan is funded, at retirement, termination (vested), disability or death, there shall be an additional benefit paid to you. The share plan is funded solely with state premium tax money and the funding that is received for this Share Plan is allocated to your share account based on a formula which gives you an allocation based on your years of credited service or another formula to be determined. Your share account receives its proportionate share of the income or loss on the assets in the plan. -2- F. Cost -of -Living Adjustment. Future retirees with a minimum of 15 years of credited service shall receive a 1 % automatic cost -of -living adjustment beginning on the first October 1 following the attainment of age 58. The COLA is applicable to all forms of retirement, including normal and early retirement, terminated vested, disability retirees and pre -retirement death beneficiaries. G. Other Retirement Options. At retirement, certain additional options are available as follows: (1) Optional Forms of Retirement. In lieu of the amount and form of retirement income payable under normal and early retirement, you may elect to receive a retirement benefit in a different form so long as the form you elect is of equal actuarial value as the normal benefit. The optional forms of benefits which are available are: (a) A retirement income of a monthly amount payable to you for your lifetime only. (b) A retirement income of a modified monthly amount, payable to you during your lifetime and following your death, 100%, 75%, 66 2/3% or 50% of such monthly amount payable to a joint pensioner for his lifetime. (c) If you retire prior to the time at which social security benefits are payable, you may elect to receive an increased retirement benefit until such time as social security benefits shall be assumed to commence and a reduced benefit thereafter in order to provide, to as great an extent as possible, a more level retirement allowance during the entire period of retirement. (d) If you do not participate in the DROP, you may also elect to receive an initial lump sum payment equal to 5%,10%, 15%, 20% or 25% ofyour accrued benefit with the remaining 95%, 90%, 85%, 80% or 75%, respectively, payable in a form selected by you and provided for in (a), (b) or (c) above or in the normal form (10 years certain and life). (2) Deferred Retirement Option Plan (DROP). (a) If you become eligible for normal retirement, and are still employed by the City as a Police Officer, you have the option of "retiring" from the pension plan but continuing your employment as a Police Officer for an additional five years. *An election to participate in the DROP constitutes an irrevocable election to resign from the service of the City not later than 5 years from the commencement of DROP participation. You must request, in writing, to enter the DROP. (b) Upon entering the DROP, your retirement benefit is immediately calculated and each monthly benefit payment is deposited into your DROP account. You will have your account credited with interest at the rate of 1.3% per annum. -3- (c) At the time of termination of employment at the end of the DROP period, you will receive your account balance in a lump sum and you will also begin receiving your monthly retirement benefit. (d) Once you enter the DROP, you are no longer eligible for disability or pre -retirement death benefits, nor do you accrue any additional credited service. Your retirement benefit is fixed as of your entry date. You pay no member contributions to the plan once you enter the DROP. (e) Participation in the DROP is not a guarantee of employment and DROP participants shall be subject to the same employment standards and policies that are applicable to employees who are not DROP participants. (f) Additional information about the DROP can be obtained from the Board. H. Disability_ Retirement. You are considered disabled when you become totally and permanently unable to perform useful and efficient service as a Police Officer. A written application is made to the Board for a disability pension and the Board receives evidence of the disability and decides whether or not the pension is to be granted. If the pension is granted, the benefit amount shall be: (1) If the injury or disease is service connected, a benefit equal to your accrued benefit, but in any event the benefit shall not be less than 42% of your average final compensation. (2) If the injury or disease is not service connected, a benefit equal to your accrued benefit, but in any event the benefit shall not be less than 25% of your average final compensation. This non -service connected benefit is only available if you have at least 10 years of credited service. Eligibility for disability benefits. Subject to (4) below, you must bean active member of the plan on the date the Board determines your entitlement to a disability benefit. (1) Terminated persons, either vested or non -vested, are not eligible for disability benefits. (2) If you voluntarily terminate your employment either before or after filing an application for disability benefits, you are not eligible for disability benefits. (3) If you are terminated by the City for any reason other than for medical reasons, either before or after you file an application for disability benefits, you are not eligible for disability benefits. (4) The only exception to (1) above is: (a) If you are terminated by the City for medical reasons and you have already applied for disability benefits before the medical termination, or; (b) If you are terminated by the City for medical reasons and you apply within 30 days after your medical termination date. -4- If either (4)(a), or (4)(b) above applies, your application will be processed and fully considered by the board. Your disability benefit terminates upon the earlier of death, with 120 payments guaranteed, or recovery. You may, however, select a "life only" or "joint and survivor" optional form of benefit as described above under "Optional Forms of Retirement". Any condition or impairment of health caused by hypertension or heart disease resulting in death or total and permanent disability is presumed to have been suffered in the line of duty unless the contrary is shown by competent evidence; provided that you have successfully passed a physical examination on entering into service and there is no evidence of the condition at that time. For conditions diagnosed on or after January 1,1996, if you suffer a condition or impairment of health that is caused by hepatitis, meningococcal meningitis, or tuberculosis, which results in total and permanent disability, it shall be presumed that the disability is in the line of duty, unless the contrary is shown by competent evidence as provided for in Section 112.181, Florida Statutes; provided that the statutory conditions have been met. To receive disability benefits, you must establish to the satisfaction of the Board, that such disability was not occasioned primarily by: (1) Excessive or habitual use of any drugs, intoxicants or narcotics. (2) Injury or disease sustained while willfully and illegally participating in fights, riots or civil insurrections or while committing a crime. (3) Injury or disease sustained while serving in any branch of the Armed Forces. (4) Injury or disease sustained after your employment as a Police Officer with the City of Sebastian shall have terminated. (5) Injury or disease sustained while working for anyone other than the City and arising out of such employment. As a disabled pensioner, you are subject to periodic medical examinations as directed by the Board to determine whether a disability continues. You may also be required to submit statements from your doctor, at your expense, confirming that your disability continues. I. Death Before Retirement. If you die prior to retirement from the Police Department, your beneficiary shall receive the following benefit: (1) Prior to Vesting or Eligibility for Retirement. If you were not receiving monthly benefits or were not yet vested or eligible for early or normal retirement, your beneficiary shall receive a refund of 100% of your accumulated contributions. (2) Deceased Members Vested or Eligible for Retirement with Spouse as Beneficiary. If you die and, at the date of your death were vested or eligible for early or normal retirement, your spouse beneficiary shall be entitled to a benefit as follows: (a) If you were vested, but not eligible for normal or early retirement, your spouse beneficiary shall receive a benefit payable for 10 years, beginning on the date that you would have been eligible for early or normal retirement, at the option of your spouse beneficiary. The benefit shall be calculated as -5- for normal retirement based on your credited service and average final compensation as of the date of your death and reduced as for early retirement, if applicable. Your spouse beneficiary may also elect to receive an immediate benefit, payable for 10 years, which is actuarially reduced to reflect the commencement of benefits prior to your early retirement date. (b) If you were eligible for normal or early retirement, your spouse beneficiary shall receive a benefit payable for 10 years, beginning on the first day of the month following your death or at your otherwise normal or early retirement date, at the option of your spouse beneficiary. The benefit shall be calculated as for normal retirement based on your credited service and average final compensation as of the date of your death and reduced as for early retirement, if applicable. (c) Your spouse beneficiary may not elect an optional form of benefit, however, the Board may elect to make a lump sum payment if the total commuted value of benefit is less than $1,000.00. (d) Your spouse beneficiary may, in lieu of any benefit provided for in (a) or (b) above, elect to receive a refund of your accumulated contributions. (e) If your spouse beneficiary commences receiving a benefit under (a) or (b) above, but dies before all payments are made, the remaining benefit shall be paid to the estate of the spouse beneficiary. (3) Deceased Members Vested or Eligible for Retirement with Non - Spouse Beneficiarv. If your beneficiary is not your spouse, the benefits payable to your non -spouse beneficiary are the same as those to a spouse beneficiary, however, the date of commencement of those benefits may be required to be earlier, with the resulting reduction in the amount. (4) In the event the board purchased life insurance contracts to provide all or part of the death benefit provided herein, the death benefit payable under any such contract shall not exceed: (a) One hundred times your estimated normal monthly retirement income, based on the assumption that the present rate of compensation continues without change to normal retirement date; or (b) Twice the annual rate of compensation as of your date of death, or the single -sum value of the accrued deferred retirement income (beginning at normal retirement date) at your date of death, whichever is greater. In the event the death benefit paid by a life insurance company exceeds the limits set forth above, the excess of the death benefit over the limits shall be paid to the fund. J. Termination of Employment and Vesting. If your employment is terminated, either voluntarily or involuntarily, the following benefits are payable: INI (1) If you have less than 10 years of credited service upon termination, you shall be entitled to a refund of the money you have contributed or you may leave it deposited with the Fund. (2) If you have 10 or more years of credited service upon termination, you shall be entitled to a monthly retirement benefit. The benefit shall be determined in the same manner as for normal or early retirement and shall be based upon your credited service, average final compensation and the benefit accrual rate as of the date of termination. The benefit shall be payable to you starting at your otherwise normal or early retirement date, determined based upon your actual years of credited service, provided you do not elect to withdraw your contributions and provided you survive to your otherwise normal or early retirement date. If you do not withdraw your accumulated contributions and do not survive to your otherwise normal or early retirement date, your designated beneficiary shall be entitled to a benefit as provided herein for a deceased member, vested or eligible for retirement under Death Before Retirement. The Internal Revenue Code provides that certain eligible lump sum distributions from the pension system maybe directly rolled over into qualified individual retirement accounts, annuities or certain other pension plans. A 20% withholding shall be required on taxable portions of such lump sum distributions not directly transferred to a new custodian. K. Contributions and Funding. The City is paying the portion of the cost of the pension plan over and above your contributions, but in no event less than 14.2% of payroll and all or a portion of the amounts received from the state insurance rebates, pursuant to a mutual consent agreement between the City and the Union. You shall be required to make regular contributions to the fund in the amount of 8% of your salary. Police officer contributions withheld by the city on your behalf shall be deposited with the board immediately after each pay period. The contributions made by you to the fund shall be designated as employer contributions pursuant to §414(h) of the code. Such designation is contingent upon the contributions being excluded from the members' gross income for Federal Income Tax purposes. For all other purposes of the system, such contributions shall be considered to be member contributions. L. Reemployment After Retirement. If you retire under normal or early retirement and wish to be reemployed by the city, you should be aware that your ability to continue to receive your pension benefit upon reemployment may be restricted. M. Additional Credited Service. In addition to credited service actually earned in the employment of the Police Department, you may also receive credited service as follows: (1) "Buy -Back" for Prior Police Service. The years or fractional parts of years that you previously served as a Police Officer with the City of Sebastian during a period of previous employment and for which period accumulated contributions were withdrawn from the plan shall be added to your years of credited service provided that within the first 90 days of your reemployment you pay into the plan the withdrawn contributions with interest. If, after 90 days from your reemployment you have failed to purchase credited service pursuant to the previous paragraph or if you served as a full-time paid Police Officer for any other municipal, county or state law enforcement agency in the State of Florida, you will receive credited service only if. -7- (a) You contribute to the plan a sum equal to: (i) the amount that you would have contributed to the plan, based on your salary and the member contribution rate in effect at the time that the credited service is requested, had you been a member of the plan for the years or fractional parts of years for which you are requesting credit, plus (ii) an additional amount to be determined by the Board's actuary so that there is no cost to the plan in giving you the additional years of credited service, plus (iii) the amount charged by the actuary for determining the amount you must contribute. (b) Multiple requests to purchase credited service may be made at any time prior to retirement, in one year increments, upon the completion of 5 years of credited service. (c) Payment of the required amount shall be made within 6 months of your request for credit, but not later than your retirement date, and shall be made in one lump sum payment upon receipt of which credited service shall be given. (d) The maximum credit under this subsection for service other than with the City of Sebastian shall be 4 years of credited service and shall count for all purposes, except vesting. There shall be no maximum purchase of credit for prior service with the City of Sebastian and such credit shall count for all purposes, including vesting. (e) In no event, however, may credited service be purchased pursuant to this subsection for prior service with any other municipal, county or state law enforcement department, if such prior service forms or will form the basis of a retirement benefit or pension from a different employer's retirement system or plan. (f) In addition to service as a Police Officer in this State, credit may be purchased in the same manner as provided above for federal, other state, county or municipal service if the prior service is recognized by the Criminal Justice Standards and Training Commission within the Department of Law Enforcement, as provided under Chapter 943, Florida Statutes, or you provide proof to the Board that such service is equivalent to the service required to meet the definition of a Police Officer. (2) "Buy -Back" for Military Service Prior to Employment. The years or fractional parts of years that you serve or have served on active duty in the military service of the Armed Forces of the United States, the United States Merchant Marine or the United States Coast Guard, voluntarily or involuntarily and honorably or under honorable conditions, prior to first and initial employment with the City Police Department shall be added to your years of credited service provided that: 52 (a) You contribute to the plan a sum equal to: (i) the amount that you would have contributed to the plan, based on your salary and the member contribution rate in effect at the time that the credited service is requested, had you been a member of the plan for the years or fractional parts of years for which you are requesting credit, plus (ii) an additional amount to be determined by the Board's actuary so that there is no cost to the plan in giving you the additional years of credited service, plus (iii) the amount charged by the actuary for determining the amount you must contribute. (b) Multiple requests to purchase credited service may be made at any time prior to retirement, in one year increments, upon the completion of 5 years of credited service. (c) Payment of the required amount shall be made within 6 months of your request for credit, but not later than your retirement date, and shall be made in one lump sum payment upon receipt of which credited service shall be given. (d) The maximum credit under this subsection shall be 4 years and shall count for all purposes except vesting. (3) Rollovers or Transfers of Funds to Purchase Service. In the event you are eligible to purchase additional credited service as provided above, you may be eligible to rollover or transfer funds from another retirement program in which you participate (traditional IRA, deferred compensation plan maintained by a government employer 457 plan, 401k plan, profit sharing plan, defined benefit plan, money purchase plan, annuity plan or tax sheltered annuity) in order to pay all or part of the cost of purchasing such additional credited service. N. Maximum Benefits. In no event will the annual benefits paid from this System exceed $215,000 annually, subject to certain cost of living adjustments and actuarial reductions, under certain circumstances, prior to age 62 as set forth in Section 415 of the Internal Revenue Code. If you began participation for the first time on and after January 1,1980, you cannot receive a benefit in excess of 100% of your average final compensation. O. Forfeiture of Pension. If you are convicted of the certain crimes listed in the plan document committed prior to retirement, or if your employment is terminated by reason of your admitted commission, aid or abetment of these crimes, you shall forfeit all rights and benefits under the System, except for the return of your contributions as of the date of your termination. P. Conviction and Forfeiture; False, Misleading or Fraudulent Statements. It is unlawful for you to willfully and knowingly make, or cause to be made, or to assist, conspire with, or urge another to make, or cause to be made, any false, fraudulent, or misleading oral or written statement or withhold or conceal material information to obtain any benefit from the System. In If you violate the previous paragraph, you commit a misdemeanor of the first degree, punishable as provided in Section 775.082 or Section 775.083, Florida Statutes. In addition to any applicable criminal penalty, upon conviction for a violation described above, you or your beneficiary may, in the discretion of the Board, be required to forfeit the right to receive any or all benefits to which you would otherwise be entitled under the System. For purposes of this subsection, "conviction" means a determination of guilt that is the result of a plea or trial, regardless of whether adjudication is withheld. Q. Claims Procedure Before the Board. You may request, in writing, that the Board review any claim for benefits under the System. The Board will review the case and enter a decision as it deems proper within not more than 180 days from the date of the receipt of such written request, or in the case of a disability claim, from receipt of a medical release and completed interrogatories. The time period may be extended if you agree to the extension. The Board's decision on your claim will be contained in an order which will be in writing and will include: (1) The specific reasons for the Board's action; (2) A description of any additional information that the Board feels is necessary for you to perfect your claim; (3) An explanation of the review procedure next open to you which includes a formal evidentiary hearing. 4. NON -FORFEITURE OF PENSION BENEFITS A. Liquidation of Pension Fund Assets. In the event of repeal, or if contributions to the Fund are discontinued by the City, there will be a full vesting of benefits accrued to date of repeal. B. Interest of Members in Pension Fund. At no time prior to the satisfaction of all liabilities under the System shall any assets of the System be used for any purpose other than for the Police Officers' exclusive benefit. In any event, your contributions to the System are non - forgettable. 5. VESTING OF BENEFITS Your retirement benefits are vested after 10 years of credited service. 6. APPLICABLE LAW The System is governed by certain federal, state and local laws, including, but not limited to the following: A. Internal Revenue Code and amendments thereto. B. Chapter 185, Florida Statutes, "Municipal Police Officers' Retirement Trust Funds". C. Part VII, Chapter 112, Florida Statutes, "Actuarial Soundness of Retirement Systems". D. Ordinances of the City of Sebastian. E. Administrative rules and regulations adopted by the Board of Trustees. -10- 7. PLAN YEAR AND PLAN RECORDS The plan year begins on October 1 of each year and ends on September 30 of the following year. All records of the System are maintained on the basis of the plan year. 8. APPLICABLE PROVISIONS OF COLLECTIVE BARGAINING AGREEMENTS There is a current collective bargaining agreement between the City and the Police Officers. Pension benefits are bargainable. 9. FINANCIAL AND ACTUARIAL INFORMATION A. A report of pertinent financial and actuarial information on the solvency and actuarial soundness of the System has been prepared by the Pension Plan's actuary, Foster & Foster, Inc., and is attached as Exhibit "B" B. A copy of the detailed accounting report of the plan's expenses for the fiscal year is available for review upon request to the Plan Administrator. C. A copy of the administrative expense budget for the plan, for each fiscal year is available for review upon request to the Plan Administrator. 10. DIVORCE OR DISSOLUTION OF MARRIAGE Federal and state law provides certain restrictions regarding the payment of your pension benefits in the event of your divorce or dissolution of marriage. Immediately upon your involvement in such a legal proceeding, you should provide a member of the Board with the name and address of your attorney or your name and address if you have no attorney. The Board's attorney will then provide you or your attorney with information concerning the legal restrictions regarding your pension benefits. In addition, a copy of any proposed order must be submitted to the Board prior to entry by the court. Failure to do so may require you to pay any expenses incurred by the Board in correcting an improper court order. 11. EX -SPOUSES AS BENEFICIARY OR JOINT PENSIONER The Florida Legislature has adopted Section 732.703, Florida Statutes. This law nullifies the designation of your ex -spouse as a Beneficiary or Joint Annuitant / Joint Pensioner on your pension plan retirement benefits. This law went into effect on July 1, 2012. After July 1, 2012, if you want your ex -spouse to be a beneficiary or joint annuitant/joint pensioner for your plan benefit, you will have to make that designation AFTER the dissolution of marriage. If you currently have an ex -spouse as a beneficiary or joint annuitant/joint pensioner, and want to keep this designation, you will have to designate the ex -spouse again after July 1, 2012. To reconfirm your current beneficiary, or to designate a new beneficiary, complete a new Designation of Beneficiary Form (PF-3). To reconfirm your current ioint annuitant/ioint pensioner, or to designate a new joint annuitant/joint pensioner (if authorized by the current plan provisions), indicate such change on a Change or Confirmation of Designated Joint Annuitant or Joint Pensioner Form (PF-25). If necessary, the plan administrator will submit the new form to the actuary of the plan for recalculation of your benefit. There may be a charge to you to make this change. To obtain either of the above forms, or if you have any questions, please contact your plan administrator. -11- 12. EXCLUSION OF HEALTH INSURANCE PREMIUMS FROM INCOME. When you retire because of disability or have worked to the date you are immediately eligible for normal retirement (not early retirement), you can elect to exclude from income, distributions made from your benefit that are used to pay the premiums for accident or health insurance or long-term care insurance. The premium can be for coverage for you, your spouse, or dependents. The distribution must be made directly from the plan to the insurance provider using pension form PF-22 which authorizes the distribution. (This form may be obtained from your plan administrator) You can exclude from income the smaller of the amount of the insurance premiums or $3,000.00. You can only make this election for amounts that would otherwise be included in your income. kshlscbas\po1110-13-17.spd -12- EXHIBIT "A" BOARD OF TRUSTEES The names and addresses of the members of the Board of Trustees are: Chairman: Richard Snell 1201 Main Street Sebastian, Florida 32958 Member: Christine Vicars 1201 Main Street Sebastian, Florida 32958 Member: Ken Killgore 1225 Main Street Sebastian, Florida 32958 Member: Paul Williamson 1201 Main Street Sebastian, Florida 32958 Member: Jason Gillette 1201 Main Street Sebastian, Florida 32958 Plan Administrator: Mr. Ken Killgore 1225 Main Street Sebastian, Florida 32958 Phone: (772)388-8205 E-Mail: kkilleorea.CitvofSebastian.om Plan Custodian: Salem Trust Company Ms. Karen Russo 455 Fairway Drive, Suite 103 Deerfield Beach, Florida 33441 Tel: 877-382-5268 Karen.Russo a,salemtrust.com CITY OF SEBASTIAN, FLORIDA POLICE PENSION FUND - 2017/2018 BUDGET VS. ACTUAL Reported to Police Pension Board December 12, 2017 Approved Historical Annual Operating Expenses Thru December 4, 2017 2017/2018 2017/2018 To Date 2016/2017 2015/2016 2OW2015 2013/2014 Annual Operating Expenses Total 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total Total Total Total Total Budeet 10/1-12/31 1 1- 3 31 4 1- 6 30 7 1- 9 30 Actual Actual Actual Actual Actual Investment Managers: Highland Capital $ 60,000 $ - 60,479.85 $ 42,352.99 $ 64,402.32 $ 58,710.23 Boston Parners 3,500 1,453.65 1,453.65 Fiera Capital 3,500 1,026.40 1,026.40 Renaissance 3,500 1,389.13 1,389.13 Center Coast 3,500 660.28 660.28 Intercontinental 3,500 - PerFormance Manager - Graystone 13,500 3,375.00 3,375.00 13,500.00 13,500.00 16,875.00 15,000.00 Morgan Stanley - Graystone Consulting Plan Trustee 6,500 5,925.00 5,925.00 7,245.00 6,265.00 6,615.00 5,295.00 Salem Trust Company - Base fee, plus security transactions ADR Agent Fee - Foreign Dividends 500 - 581.24 451.80 141.44 186.69 Sub -total Investment Expense $ 98,000 $ 13,829.46 $ - $ - $ - $ 23,829.46 81,806.09 $ 62,569.79 $ 88,033.76 $ 79,191.92 Actuarial 20,000 12,295.00 12,295.00 13,331.00 14,765.00 21,398.00 15,544.00 Foster & Foster Legal Advisor General Legal Services 15,000 2,210.00 2,210.00 17,122.21 9,511.92 17,189.16 7,623.64 Medical Reviews 5,000 2,485.28 2,485.28 11,888.80 8,782.68 Accounting Service - Included in City's General Fund Remann Robson Insurance 3,200 2,685.00 2,685.00 3,021.05 3,121.05 3,121.05 3,000.00 Miscellaneous 500 - 1,222.07 1,646.76 Minutes Preparation - 128.00 128.00 Codification of Approved Ordinance(s) 900 598.20 598.20 Travel 1,000 - 695.50 101.90 - Sub -total Administrative Expense $ 45,600 $ 20,401.48 $ - $ - $ - $ 20,401.48 45,363.06 $ 36,876.15 $ 43,032.18 $ 27,814.40 Total Operating Expenses $ 143,600 $ 34,230.94 $ - $ - $ - $ 34,230.94 127,169.15 $ 99,445.94 $ 131,065.94 $ 107,006.32 Law Offices Chn*stiansen & Dehner, P.A. 63 Sarasota Center Blvd. Suite 107 Sarasota, Florida 34240.941-377-2200 • Fax 941-377-4848 October 5, 2017 VIA UPS OVERNIGHT DELIVERY Mr. Ken Killgore City of Sebastian Police Officers' Retirement System 1225 Main Street Sebastian, Florida 32958 Re: Legal Representation Dear Ken: Scott and I have decided to begin the transition to the next phase of our careers. Because of our need to reduce our workload as we age, we have decided to reduce the number of pension plans that we represent. We have decided to more geographically centralize the clients that we serve in order to reduce travel time to still be able to serve as many clients as possible. As we have had a long term relationship with most of our clients and we have made many friends in connection with our representation, the decision to discontinue our representation with any of our clients is very difficult for us. After much consideration and with deep regret, we inform you that we must end our legal representation to the Board of Trustees of the City of Sebastian Police Officers' Retirement System after years of having served the Board as its legal counsel. To assure that our clients will continue to receive the best legal advice, representation and service, we have decided to enter into a strategic alliance with the law firm of Klausner, Kaufman, Jensen & Levinson, one of the most experienced and respected public pension law firms in Florida. We have both known Bob Klausner and his partners and associates for over 30 years and we share the highest respect and regard for each other. Since 1979, Klausner, Kaufman, Jensen & Levinson ("Klausner") has served as legal advisor to more than 100 state and local retirement systems, addressing the full range of fiduciary and benefit issues. This familiarity with Florida public pension plans and the laws that govern them means that there will be no "learning curve" required to be able to provide your Board with the services it needs at the level it deserves and has enjoyed in the past. A uniquely qualified, combined team enables Klausner to offer the resources, experience and advice that will best serve your Board of Trustees. We know that you will be well represented by our longtime friends at Klausner. Mr. Ken Kilgore October 5, 2017 Page 2 Effective January 1, 2018, our firm will transfer your legal work to the law firm of Klausner, Kaufman, Jensen & Levinson. Enclosed is some documentation regarding this firm and its outstanding credentials. We intend to have a representative from this firm accompany us at the Board's next meeting prior to January 1 to allow the Board the opportunity to meet them and discuss their legal representation going forward. Of course, you do have the right to retain other counsel for representation of the Fund, however we hope our recommendation and endorsement will provide the Board with the assurance that the Fund's business will proceed without interruption or delay. Your Plan will be transferred to Klausner on January 1, 2018 if you do not object to the transfer or request additional time (to a date not later than April 1, 2018) to decide on your representation. If you do not notify us by January 1, 2018 that you object to the transfer of your representation to Klausner or that you need additional time (to a date not later than April 1, 2018), we will accomplish the transfer on that date. Please contact us with any questions. Yours very truly, Yours very truly, 41-9� _ H. Lee Delmer HLD/ksh enclosures cc: Robert Klausner Scott R. Christiansen PENSION FUND CONSENT TO ASSIGNMENT OF LEGAL SERVICES AGREEMENT The Board of Trustees of the City of Sebastian Police Officers' Retirement System ("Fundl,") hereby consents to the transfer of the legal services from Christiansen & Dehner, P.A. to Klausner, Kaufman, Jensen & Levinson effective January 1, 2018. The Fund also consents to the assignment of the Legal Services Agreement to Klausner, Kaufman, Jensen & Levinson and legal services will be provided under the same terms and conditions as the original agreement for at least a 3 year period from January 1, 2018. Your consent to the substitution of Counsel will be presumed if you do not object before January 1, 2018 or request an extension of time (to a date not later than April 1, 2018). BOARD OF TRUSTEES OF THE CITY OF SEBASTIAN POLICE OFFICERS' RETIREMENT SYSTEM By: As Chairman By: As Secretary Date: PENSION FUND OBJECTION TO SUBSTITUTION OF COUNSEL AND ASSIGNMENT OF LEGAL SERVICES AGREEMENT The Board of Trustees of the City of Sebastian Police Officers' Retirement System ("Fund") hereby OBJECTS to the transfer of the legal services from Christiansen & Dehner, P.A. to Klausner, Kaufman, Jensen & Levinson effective January 1, 2018. BOARD OF TRUSTEES OF THE CITY OF SEBASTIAN POLICE OFFICERS' RETIREMENT SYSTEM By: As Chairman By: As Secretary Date: a USNER f,\1AN NSSEN NtiUi\' J FIRM OVERVIEW The law firm of Klausner, Kaufman, Jensen & Levinson specializes exclusively in the representation of retirement and benefit systems. The firm is composed of seven lawyers in South Florida and an Of Counsel tax practitioner in New Orleans. In addition, we have three clerical/paraprofessional employees and an administrator. As a result of our substantial involvement on a national level in public employee retirement matters, we have developed a unique level of knowledge and experience. By concentrating our practice in the area of public employee retirement, we are able to keep a focus on changing trends in the law that more general practitioners would consider a luxury. The law firm of Klausner, Kaufman, Jensen & Levinson, among the most highly regarded in the country in the area of pension issues, is frequently called upon as an educational and fiduciary consultant by state and local governments throughout the United States on some of the newest and most sophisticated issues involving public retirement systems. The examples of those areas are: Plan Design The firm provides services to public employee pension plans in the area of plan review, design, and legislative drafting. On both the state and local levels, statutes and ordinances are reviewed for the purpose of maintaining compliance with current and pending Internal Revenue Code Regulations affecting public plans and the Pension Protection Act. When benefit changes occur we prepare all necessary legislative drafts and are available to appear before the appropriate legislative body to answer questions concerning those drafts. We also offer 7080 NW 0 Street, Plantation, FL 33317 Tel: (954) 916-1202 Fax: (954) 916-1232 www.robertdklausner.com 2 creative solutions to plan design issues brought about by unexpected economic pressures and balancing those solutions against constitutional or statutory benefit guarantees. Fiduciary Education The primary duty of a pension fund lawyer is to ensure that the trustees do the right thing. It is our practice to design and present a variety of educational materials and programs which explain the general principles of fiduciary responsibility, as well as more specific principles regarding voting conflicts, compliance with open meeting laws, conflict of interest laws, etc. We regularly apprise the boards of trustees and administrators through newsletters, memoranda and updates on our website of changes in the law, both legislatively and judicially, which impact upon their duties. We also conduct training workshops to improve the trustees' skills in conducting disability and other benefit hearings. Plan Policies, Rules, and Procedures It has been our experience that boards of trustees find themselves in costly and unnecessary litigation because of inconsistency in the administration of the fund. Accordingly, we have worked with our trustee clients in developing policies, rules, and procedures for the administration of the trust fund. The development of these rules ensures uniformity of plan practices and guarantees the due process rights of persons appearing before the board. They also serve to help organize and highlight those situations in which the legislation creating the fund may be in need of revision. By utilizing rule making powers, the board of trustees can help give definition and more practical application to sometimes vague legislative language. Legal Counseling In the course of its duties, the board of trustees and administrators will be called upon from time to time to interpret various provisions of the ordinance or statute which governs its conduct. The plan will also be presented with various factual situations which do not lend themselves to easy interpretation. As a result, counsel to the plan is responsible for issuing legal opinions to assist the trustees and staff in performing their function in managing the trust. 7080 NW a Street, Plantation, FL 33317 Tel: (954) 916-1202 Fax: (954) 916-1232 www.robertdklausner.com Summary Plan Descriptions Florida law requires that pension plans provide their members with a plain language explanation of their benefits and rights under the plan. Given the complexity of most pension laws, it is also good benefits administration practice. Part of the responsibilities of a fiduciary is to ensure that plan members understand their rights and the benefits which they have earned. We frequently draft plain language summary plan descriptions using a format which is easily updatable as plan provisions change. We are also advising plans on liability issues associated with electronic communication between funds and members as part of our continuing effort at efficient risk management. Litigation Despite the best efforts and intentions of the trustees and staff, there will be times when the plan finds itself as either a plaintiff or defendant in a legal action. We have successfully defended retirement plans in claims for benefits, actions regarding under -funding, constitutional questions, discrimination in plan design, and failure of plan fiduciaries to fulfill their responsibilities to the trust. The firm has substantial state and federal court trial experience, including the successful defense of a state retirement system in the Supreme Court of the United States. The firm also has a substantial role in monitoring securities litigation and regularly argues complex appellate matters on both the state and federal levels. We pride ourselves on the vigorous representation of our clients while maintaining close watch on the substantial costs that are often associated with litigation. We are often called upon to provide support in a variety of cases brought by others as expert witnesses or through appearance as an amicus curiae (Friend of the Court). 7080 NW 4t' Street, Plantation, FL 33317 Tel: (954) 916-1202 Fax: (954) 916-1232 www.robertdklausner.com 4 Lawyer Bios ROBERT D. KLAUSNER, Principal Klausner, Kaufman, Jensen & Levinson bobO,robertdklausner.com Mr. Klausner is the principal in the law firm of Klausner, Kaufman, Jensen & Levinson. For 40 years, he has been engaged in the practice of law, specializing in the representation of public employee pension funds. The firm represents state and local retirement systems in more than 20 states and territories, and is listed in the U.S. News & World Report's Best Law Firms. Mr. Klausner has assisted in the drafting of many state and local laws on public employee retirement throughout the United States. Mr. Klausner is a frequent speaker on pension education programs and has also published numerous articles on fiduciary obligations of public employee pension trustees. He is co-author of the book State and Local Government Emr)lovment Liabilitv, published by Thomson -Reuters West Publishers and is the author of the first comprehensive book on the law of public employee retirement systems, State and Local Government Retirement Law: A Guide for Lawyers, Trustees, and Plan Administrators, originally published in April 2009, and an expanded version which was published in November/December 2016. Mr. Klausner graduated Phi Seta Kappa from the University of Florida with a Bachelor of Arts and from the University Florida College of Law with the degree of Juris Doctor. Since 1995, Mr. Klausner has been listed in the publication The Best Lawyers in America and holds an "AV pre-eminent" rating, the highest rating for competence and ethics, from Martindale Hubbell national lawyer rating service. In 2008, Mr. Klausner successfully represented the Commonwealth of Kentucky and the Kentucky Retirement Systems in the United States Supreme Court in Kentucky Retirement Systems v. Equal Employment Opportunity Commission, 128 S. Ct. 2361 (2008). Mr. Klausner lives in Cooper City, Florida with his wife of 41 years, Kathy. They have four daughters, 4 sons -in law, and 5 beautiful grandchildren. 7080 NW 0 Street, Plantation, FL 33317 Tel: (954) 916-1202 Fax: (954) 916-1232 www.robertdklausner.com STUART A. KAUFMAN, Partner Klausner, Kaufman, Jensen & Levinson stu(&robertdklausner.com Stuart Kaufman is a partner in the law firm of Klausner, Kaufman, Jensen & Levinson. After graduation from the University of Miami School of Law in 1989, Mr. Kaufman returned to New York where he practiced in a small firm in New York City for three years as a general litigator. He returned to Florida in 1993 and joined the law firm as an associate specializing in different facets of labor and employment law, including the representation of public employee pension funds. In 1997, Mr. Kaufman was retained as General Counsel for the Professional Law Enforcement Association of Dade County, an employee organization dedicated to protecting the rights of law enforcement officers, where he served until January, 2001. Mr. Kaufman was also a sole practitioner at the time operating a general civil practice with an emphasis on employment related matters. Additionally, he volunteered and served as General Counsel for Cops for Kids, Inc., a charitable organization operated by police officers which benefits underprivileged children in South Florida. Since rejoining the Law Firm of Klausner, Kaufman, Jensen & Levinson, in February, 2001, he has been solely dedicated to representing public employee pension funds. He is admitted to the New York Bar, the Florida Bar, and is also admitted to practice before the United States District Court, Southern District of Florida, Middle District of Florida, and the United States Court of Appeals, Eleventh Circuit. Mr. Kaufman graduated from the State University of New York at Binghamton, receiving a Bachelor of Arts degree in political science. Mr. Kaufman received his Juris Doctorate from the University of Miami School of Law. Stuart has been married to Tammy for 24 years and they have two daughters, Nicole, 20 and Cali, 18. BONNI S. JENSEN, Partner Klausner, Kaufman, Jensen & Levinson bon n! a0robertdklausner.com Bonn! S. Jensen is a partner with Klausner, Kaufman, Jensen & Levinson. Since 1990, Ms. Jensen has specialized in, and served as general counsel to, municipal pension funds. Bonni Jensen has had extensive experience in pension and employee benefits law and related local, state and federal law. She has been a speaker on topics which include DROP plans, fiduciary responsibility, 457 plans, the role of collective bargaining in pension issues, pension plan administration, 7080 NW 4' Street, Plantation, FL 33317 Tel: (954) 916-1202 Fax: (954) 916-1232 www.robertdklausner.com meeting preparation, Sunshine Law and ethics and financial disclosure laws at the annual State of Florida Police and Firefighter Pension Conferences and Trustee Schools. She has also attended many seminars related to pension fund topics, such as National Association of Public Pension Attorneys annual conference; controlling disability costs in the public sector; tax issues; pension obligation bonds; securities law; and Guns and Hoses conferences. She regularly participates in the Florida Public Pension Trustees Association conferences and schools for municipal pension funds. Ms. Jensen is admitted to the Florida Bar, and is also admitted to practice before the United States District Court, Southern District of Florida, the United States District Court of Appeals, Eleventh Circuit and the U.S. Supreme Court. Ms. Jensen graduated from Stetson University receiving a Bachelor of Arts degree in sociology. She received her Juris Doctorate from Nova University, where she graduated Magna Cum Laude and served as a senior staff member of the Nova Law Review. She is also an associate member of the Florida Public Pension Trustees Association and a member of the National Association of Public Pension Attorneys. She has been married to Steve since 1984 and they have two children, James and Sarah. ADAM P. LEVINSON, Partner Klausner, Kaufman, Jensen & Levinson adam(&robertdklausner.com Adam Levinson is a partner with the law firm of Klausner, Kaufman, Jensen & Levinson. Upon graduation from the University of Miami School of Law, Mr. Levinson clerked for Chief Judge Alan R. Schwartz at the State of Florida Third District Court of Appeal. After completing his judicial clerkship, Mr. Levinson worked as a commercial litigator in one of Florida's oldest and largest law firms. Since joining the law firm of Klausner, Kaufman, Jensen & Levinson, Mr. Levinson has specialized in the representation of public sector pension plans, with an emphasis on plan drafting, board counseling, and fiduciary responsibility in the area of pension investing. He is a member of the Florida and California Bars and is admitted to practice before the United States District Court for the Southern and Middle Districts of Florida and the United States Court of Appeals for the Fifth and Eleventh Circuits. Mr. Levinson graduated Magna Cum. Laude from the University of Michigan receiving a Bachelor of Arts degree in history and political science. Mr. Levinson received his Juris Doctorate from the University of Miami School of Law, where he graduated Magna Cum Laude and served as an articles and comments editor for the University of Miami Law Review. Mr. Levinson is a 7080 NW 4t" Street, Plantation, FL 33317 Tel: (954) 916-1202 Fax: (954) 916-1232 www.robertdkiausner.com frequent speaker at the Florida Public Pension Trustees Association. Adam is married to Leslie Adler Levinson and is the proud father of Max, Mira, and Maya Levinson. PAUL A. DARAGJATI, Esquire Klausner, Kaufman, Jensen & Levinson Paul a0robertdklausner.com Paul Daragjati is an associate with the law firm of Klausner, Kaufman, Jensen & Levinson. Mr. Daragjati graduated from the University of North Florida in 1993, and thereafter entered service with the Jacksonville Sheriffs Office, where he worked as a police officer until 2001. At that time Mr. Daragjati attended the Florida State University School of Law, and upon graduation in 2003, entered service with the Office of the State Attorney for the Fourth Judicial Circuit of Florida, where he prosecuted both felonies and misdemeanors. In 2007, Mr. Daragjati was retained by the Fraternal Order of Police, Jacksonville Consolidated Lodge 5-30, where he served as general counsel until he joined the firm in 2013. As general counsel to the Jacksonville FOP, Mr. Daragjati represented over 2500 police and correctional officers in labor, employment, criminal and administrative matters, as well as civil and appellate litigation in state and federal courts. Additionally, Mr. Daragjati represented over 100 officers involved in deadly force encounters. Mr. Daragjati is admitted to practice before the Florida courts and the United States Courts for the Middle and Southern Districts of Florida, the Eleventh Circuit Court of Appeals and the United States Supreme Court. Mr. Daragjati's professional memberships have included the Florida Bar's Fourth Circuit Grievance Committee, where he served as chairman. In addition to his professional memberships, Mr. Daragjati has served as a board member for the Jacksonville Youth Sanctuary, a non-profit organization providing housing for young people involved in the child welfare system, a member of the Knights of Columbus and a lifetime member of the National Rifle Association. At the firm, Mr. Daragjati represents pension funds and related entities and continues to defend police and correctional officers in federal civil rights cases. Mr. Daragjati has been married to his wife Sonila for 23 years and together they are the parents of two beautiful daughters, Rose, 22 (another proud `Note!), and Anna, 17. 7080 NW 0 Street, Plantation, FL 33317 Tel: (954) 916-1202 Fax: (954) 916-1232 www.robertdklausner.com ANNA R. KLAUSNER PARISH, Esquire anna(&robertdklausner.com Anna Klausner Parish is an associate with the law firm of Klausner, Kaufman, Jensen & Levinson. Ms. Parish graduated from the University of Florida in 2013 with honors. Ms. Parish graduated from Stetson University College of Law in 2016 and thereafter joined the firm. She is a member of The Florida Bar and Florida Blue Key. Anna lives in Cooper City with her husband, Kyle. STEPHEN H. CYPEN, Esquire Senior Counsel to Klausner, Kaufman, Jensen & Levinson Born May 29, 1944 in St. Petersburg, Florida, Steve grew up in Miami Beach and attended Miami Beach Senior High School. He holds a B.A. from the University of Florida and a J.D. from the University of Miami. Steve began practicing law in 1968 and has been representing Florida Municipal Pensions since that time. He is certified by The Florida Bar in City, County and Local Government Law. He is the past President of the Miami Beach Bar Association; past President of the Miami Beach Civic League; past President of the Miami Beach Kiwanis Club and Chairman Emeritus, Miami Jewish Health Systems. Steve is actively involved in the following pension sector professional activities: Florida Public Pension Trustees' Association (FPPTA), Government Finance Officers' Association (GFOA), National Association of Public Pension Attorneys (NAPPA) and The International Foundation of Employee Benefit Plans (IFEBP). He serves as general counsel to approximately thirty (30) municipal pension plans, including all police officers' and firefighters' plans involving the City of Miami Beach. Steve has been married to Arlyn since 1971 and has two daughters and four grandchildren. 7080 NW 0 Street, Plantation, FL 33317 Tel: (954) 916-1202 Fax: (954) 916-1232 www.robertdklausner.com ROBERT E. TARCZA, Esquire, Of Counsel Tarcza & Associates, LLC 1310 Whitney Building 228 St. Charles Avenue New Orleans, LA 70130 bobt(&tglaw.net Robert E. Tarcza, Born Alton, Illinois, January 26, 1956; admitted to bar, 1981, Louisiana. Education: Loyola University (B.A., cum laude, 1978; J.D., 1981). Pi Sigma Alpha; Psi Chi; Blue Key. Managing Editor, Loyola Law Review, 19801981. Winner, Louisiana Trial Lawyers Association Award for Appellate Advocacy, Loyola, 1979. Mr. Tarcza has written numerous scholarly articles on matters of interest to the bar including: "Jury Review of Tax Consequences of FELA Damage Awards Now Considered Appropriate", Loyola Law Review, (1980); "The Public Trust Doctrine as a Basis for Environmental Litigation in Louisiana", Loyola Law Review (1981); "Keeping Inter Vivos Gifts and Trust Principal Out of the Grantor's Gross Estate", Prentice Hall Successful Estate Planning Ideas and Methods Paragraph 2019 (1985), substantially revised (1990). Mr. Tarcza regularly instructs lawyers and accountants in estate planning and probate law at various trade seminars. Mr. Tarcza is a member of many professional, civic and charitable associations, including the New Orleans and Louisiana State (Member, Section of Taxation) Bar Associations, the New Orleans Estate Planning Council, the Better Than Ezra Foundation, the Greater New Orleans Entertainment Foundation and the Rotary Club of New Orleans. Mr. Tarcza is a Board Certified Tax Attorney under the plan established , by the Louisiana State Bar Association Specialization Board (Taxation). Mr. Tarcza is an Accredited Estate Planner under the rules of the National Association of Estate Planning Councils. He is also listed in Who's Who in American Law, Martindale Hubbell's Bar Register of Preeminent Lawyers and is a Super Lawyer in Tax Law under the Thompson -Reuters evaluation program. Mr. Tarcza has been an "av" rated lawyer (the highest category for legal competence and ethics) for over 25 consecutive years. He has handled regulatory litigation, probate litigation, accounting malpractice actions, officer and director liability litigation and tort matters, both as a plaintiff and defense representative. Mr. Tarcza is admitted to practice before the United States Supreme Court, the U.S. Fifth Circuit Court of Appeals, U.S. District Courts in Louisiana, Mississippi, Texas and Illinois, the U.S. Tax Court and all state courts in Louisiana. 7080 NW 0 Street, Plantation, FL 33317 Tel: (954) 916-1202 Fax: (954) 916-1232 www.robertdklausner.com