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Home My WebLink About03-20-2018 Agendaaim HOME OF PELICAN ISLAND PUBLIC NOTICE — POLICE PENSION BOARD MEETING MARCH 20, 2018 The Police Pension Board will hold a regular quarter meeting Tuesday, March 20, 2018 at 10:00 a.m. in the City Council Chambers, City Hall,1225 Main St. Sebastian, Florida. Agenda CALL TO ORDER Chairperson ROLL CALL Chairperson VOTE TO EXCUSE ABSENT BOARD MEMBER(S) Chairperson APPROVAL OF MINUTES: Chairperson A. Special Meeting February 9, 2018 to Certify Election Results B. Special Meeting February 9, 2018 on Ken Johnson Disability OLD BUSINESS A. Approval of Payments: Ken Killgore, Pension Administrator a. Highland Capital Management $13,483.12 b. Fiem Capital $ 1,405.79 c. Boston Partners $ 1,777.77 d. Center Coast Capital Advisors $ 805.77 e. Renaissance Investment Management $ 1,728.51 £ Graystone Consulting $ 3,375.00 g. Foster & Foster 2/28/18 Invoice $ 1,314.00 h. Salem Trust (Quarter Ending December) $ 9,770.00 i. Klausner, Kaufman, Jensen & Levinson $ 4,207.50 j. Vero Beach Court Reporters $ 195.00 k. City of Sebastian for Administrative Solutions Payment $ 48.00 1. City of Sebastian for Janet M. Graham Payment $ 64.00 m. City of Sebastian Administrative Services (Jan. -Mar.) $ 6,000.00 B. Review of Annual Calendar of Board Activities Ken Killgore, Pension Administrator NEW BUSINESS A. Report on Florida Retirement System Police and Fire Annual Report Ken Killgore, Pension Administrator B. Review of Expenses Ken Killgore, Pension Administrator C. Report from Investment Monitor Charlie Mulfinger, Morgan Stanley D. Report from Investment Manager Grant McMurry, Highland Capital E. Legal Updates Bonni S. Jensen, Klausner, Kaufman, a. PTSD bill (SB 376) Jensen & Levinson b. Federal, State and Local Death Benefits F. Board Member Reports and Comments Chairperson G. Administrative Assistant Reports and Comments Ken Killgore, Pension Administrator H. Next Quarterly Meeting: June 19, 2018 Chairperson ADJOURN 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. CITY OF SEBASTIAN POLICE PENSION BOARD MINUTES OF SPECIAL MEETING FEBRUARY 9, 2018 1. Call to Order — Chairman Jason Gillette called the meeting to order at 9:55 a.m. Present Board Members Jason Gillette Christine Vicars Paul Williamson Randy Moyer Tim Wood Also Present Ken Gillgore, Plan Administrator Janet Graham, Technical Writer 2. Vote to Excuse Absent Board Member(s) -- None. 3. Old Business A. Certification of Election Results Mr. Killgore stated that there was one nominee, Mr. Wood, and that a motion would be in order. Mr. Gillette called for a motion. A motion to accept the election results was made by Ms. Vicars, seconded by Mr. Williamson and passed unanimously by voice vote. 4. New Business A. Next Quarterly Meeting: March 20, 2018. 5. Adiourn Chairman Gillette called for any further business. Hearing none, he adjourned the meeting at 9:56 a.m. By: Jason Gillette jg OLICE PENSION BOARD Page 2 MINUTES OF SPECIAL MEETING FEBRUARY 9, 2018 restrictions on the patient's activity. The other IMEs are the ones from Hartford Insurance, the last one being on October 12, 2017. This examination looked at his capabilities not as a police officer, and indicated that there were no functional limitations of his neck, that he had received maximum medical improvement regarding his shoulder, that he does complain of chronic shoulder pain, especially with above - shoulder activity, no other significant objective findings, thus no functional limitations were recommended regarding the shoulder symptoms. There are some additional records that were received in a second packet which indicate that he has undergone some additional treatments, not necessarily shoulder related, and that he is employed. He was working as of October 12, 2017 as a building inspector full time for the County. Ms. Jensen stated that case law states that if a person has been terminated from their employment because the employer finds that they are unable to perform their functions, they have to determine that the person is disabled. They do not, on the basis of that determination, have to determine that they are permanently and totally disabled. So the decision before the Board today is whether he is permanently and totally disabled. Ms. Jensen stated that the other unusual circumstance in this case' is the significant length of time since Mr. Johnson was terminated in 2016. There was a hearing scheduled for September 2016, and this is now February 2018. She then asked if anyone had any questions after their review of the documents. Ms. Vicars questioned the description of the duties of a building inspector. Ms. Jensen stated that she needs to check the requirements of the building inspector job. Mr. Gillette asked about the time frame that Mr. Johnson has been a building inspector. Ms. Jensen stated it was described as 11 months in the doctor's report, which was as of October 2017. Ms. Jensen stated that it was also indicated that Mr. Johnson had become a federal investigator. Mr. Scarpa stated it was November 23, 2016 when Mr. Johnson became an investigator, and he is currently an investigator. Mr. Johnson described his job of investigator being mostly office work, verifying licenses and permits, and nothing physical other than driving. Mr. Williamson questioned some items in the file, one of which in 2016 said Mr. Johnson was not totally disabled, no restrictions, maybe a 1 % impairment.* In October 2017 a report was described as no functional limitations in his neck, and shoulder had full range of motion, power and sensation. Another report in 2016 said he may be not in a position where he would defend himself, but he could do detective work, etc. OLICE PENSION BOARD Page 3 MINUTES OF SPECIAL MEETING FEBRUARY 9, 2018 Mr. Scarpa reviewed the history of Mr. Johnson's injury *on April 1, 2013 and the treatments and diagnoses he received following the injury, as well as the opinions of examining physicians and treating physical therapists. Board members then reviewed and discussed the various medical reports that were in the record. Mr. Scarpa described the legal standard for permanent impairment. Ms. Jensen stated that the amount of time that has elapsed since the Department's IME, which was in August 2016, makes this determination difficult. She stated that the Board can either grant the disability, deny the disability, or can request additional information. She stated that one medical report suggests an additional functional capacity examination at a later point. She then suggested a functional capacity examination at this time in order to see what Mr. Johnson's capabilities are presently in order to have * a more recent medical approach. Mr. Gillette suggested another functional capacity examination to get the most current information. A motion to have another functional capacity examination was made by Mr. Williamson, seconded by Ms. Vicars. Motion passed with a vote of three in favor, being Mr. Gillette, Mr. Williamson, and Ms. Vicars, and two opposed, being Mr. Moyer and Mr. Wood. Ms. Jensen stated she would investigate which doctor to use for an IME. Mr. Gillette stated he would also investigate what doctors other law enforcement departments use. Motion was made by Mr. Williamson to use Dr. MacDonald of Melbourne, seconded by Ms. Vicars. Motion passed with a vote of three in favor, being Mr. Gillette, Mr. Williamson, and Ms. Vicars, and two opposed, being Mr. Moyer and Mr. Wood. 3. Adiourn: Chairman Gillette called for any further business; hearing none, he adjourned the meeting at 11:13 a.m. By: jg Hley,Wand Capital MANAGEMENT, LLC January 5, 2018 MANAGEMENT FEE: 12/31/2017 Portfolio Value: Exclude Dividend Accrual Billable Value Invoice Number: 17333 SEBASTIAN POLICE OFFICERS' RETIREMENT Quarterly Fee Based On: $ 10,000,000 @ 0.50% per annum $ 1,048,668 @ 0.375% per annum Quarterly Fee: For the Period 1/1/2018 through 3/31/2018 $12,500.00 $ 983.12 Paid by Debit Direct Please Remit Account (sebast0l) SEBASTIAN POLICE OFFICERS' RETIREMENT VALUE (3040002546) (sebastU) SEBASTIAN POLICE OFFICERS' RETIREMENT GROWTH (3040002555) (sebasA SEBASTIAN POLICE OFFICERS' REr1REMENT ADR (3040002582) (sebasti8) SEBASTIAN POLICE OFFICERS' RETIREMENT FDCED INCOME (3040031435) Total Wiring Instructions: First Tennessee Bank For Credit to. Highland Capital Management, LLC. Account Value $ 3,757,160.05 S 2.642.656.08 S 739.657.53 $ 3,909,194.03 S 11 A48,667.69 $ 11,051,182.90 - 2,515.21 $ 11,048,667.69 $13,483.12 ($ 0.00) $ 13.483.12 Ouartedv Fix $4,585.00 $ 3,224.94 $ 902.64 $ 4,77054 $ 13,483.12 Mailing Check: Highland Capital Management, LLC 6075 Poplar Ave, Suite 703 Memphis, TN 38119 ~ 13" 3.. t �• 1213112017 Ken 01gore 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 Fourth Quarter 2017 Portfolio Value as of 12-31-17 749,756 @ 0.75 % per annum Quarterly Management Fee TOTAL DUE AND PAYABLE $ 749,756.42 1,405.79 $ 1,405.79 $ 1,405.79 As per SEC Rule 206(4)-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: To pay by check: CIO Private Bank Payable to Hera Capital Inc. Attn: Myron Charas 10050 Innovation Dr, Suite 120 Dayton, ON 4S342 Billing inquiries should be directed to: Myron Charas mcharas@fieracapitai.com 937-388-1437 �,� BostonPartners Ken Kiligore City of Sebastian 1225 Main Street Sebastian, FL 32958 Invoice Date: 12/31/2017 Invoice Number: 20171231-690-A Billing Portfolio(s): 00844 - City of Sebastian Police Officers' Retirement System Billing Period: 10/01/2017 to 12/31/2017 SUMMARY FOR INVESTMENT SERVICES Current Period Amount Due: $ 1,777.77 QUARTEREND Fee Current Invoice Period Due 30-60 Days Over 90 60-90 Days Days Total City of Sebastian Police Officers' Retirement 20171231-690-A 1.777.77 1,777.77 System Total Amount Due 1,777.77 10777.77 r Please contact James Vtelli directly at 212-908-0149 with any billing inquiries. As always, you may also direct any questions to your Relationship Manager. We would appreciate receiving your payment along with the remittance slip within 30 days of receipt of this Invoice. WIRE / TRANSFER FUNDS TO: MAIL R15MITTAKCIES-TO: Accounts Receivable Boston Partners 909 Third Avenue, 32nd Floor New York, NY 10022 Email jvitelli@boston-parbim.com Thank You Period Rule - Custom (USD) City of Sebastian Police Officers! Retirement System - 00844 Monthly Values 09/30/2017 Market Value 10/31/2017 Market Value 11/30/2017 Market Value 12/31/2017 Market Value Adjusted Input Annual Fee Schedule (IMFEE - USD) 0.00 to 25,000,000.01 and above Quarterly Fee Calculation (IMFEE - USD) 711.108.69 100.00 BPS Fee Details: Total IMFEE (00844) Fee Total: Invoice Summary Fee Totals: 688,575.95 697,906.89 715,560.31 719,858.86 26,000,000.00 90 / 360 = Schedule Total: Fee Total For IMFEE: Total Amount Due: 688,575.95 697,906.89 715,560.31 719,858.86 $ 711,108.69 100.00 BPS 80.00 BPS 1,777.77 $ 1,777.77 1,777.77 $1,777.77 1,777.77 $ 1,777.77 ujtkL xAii< COAST CAPITAL ADVISORS, I.P 1600 Smith Street, Suite 3800 Houston, TX 77002 Phone 713-759-1400 Fax 713-759-1401 Bill To: City of Sebastain Police Officers Retirement System 3040002617 TTM ,:•? k DATE: January 9, 2018 INVOICE # 2017-4 FOR: Management Fees wµ ' HY dd i ai5 ®H9ItIP" tI3N. ALIA3A�} Management Fee for the Quarter ending 12/31/2017 Quarter Ending Balances: Annual Fee Rate 12/31/2017 $ 0.50% TOTAL Terms: Due on Receipt Make all checks payable to: Center Coast Capital Advisors, LP Wiring Instructions: Wells Fargo Houston, TX ast Capital 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! 639,361.95 $ 805.77 $ 805.77 nrionaissaned Investment Management January 05, 2018 Mr. Kenneth W. Killgore Administrative Services Director City of Sebastian 1225 Main Street Sebastian, FL 32958 Billing Period: FROM 10/01/2017 TO 12/31/2017 Custodian Account No: Account N: IE0496 - City of Sebastian Police Officers Retirement System Portfolio Value ................................................... Amount Due, PAYABLE UPON RECEIPT: ........................... FMCALCULATION -(Rte x Portfolio Vatua) x (Oaf days to quattor I tI at daps In your) $ate Annlied: EolG&Ada Under Managernelrt Amount Due 0.6500 % On the remalnder. 1,056,029 1,728.61 Total Fee: 1,728.61 $11055,028.51 $1,728.51 Please coc+elram Ebb ko bill psupmd by our Jinn to pour eustedw Accoval ststeaseal far say dberepoxim sonor youdom mly occur beum of reporting dates, accrual ,metlsods artate at tad diridaEdh and other faetom Your azdam statement b the 0t5eW record erraat savmnt.ltpen arc tut reedvtmrstatcmeab )boat Sraaaar csuladleo at teat gaarterfy, If ebme have been anpehooges to yourIInaaetal sttaetloo, Inveshaeat ebjeebva, er urea tsfsb to InItInte or awM oar reasonable restrictions on the am*geaent of your aeeawtl. pleas: =Wt illtlry Rhima 0513-72$45M at memQrmi rexam - ----- ..-..--- - - - - -- ......-.-. _ - - - - - - - - - - - - - - - - - - -- - - - - - - - - - - Return this section with your fee to the address below or in the enclosed envelope: RENAISSANCE INVESTMENT MANAGEMENT 3551 Solutions Center #773551 Chicago, IL 60677-3005 Acct: IR0496 Custodian Account No: 50 EAST RIVERCENTEtt BOULEVARD ■ SUtTE 1300 COVINGTON. KY 41011 - 800.837.3863a 513.723.4500a FAX 513.723.4512a wwsv.reninv.eam January 18, 2018 *745-070 PEPSDCS90000024• 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 1INVESTMENT 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: TOTAL FEE AMOUNT $3,375.00 $3,375.00 $0.00 $3,375.00 For additional details please see Invoice Detail and Remittance Instructions on pages to follow. G � J,J7� cro 1 of 5 Investments and services offered tbmugb Morgan Stanley Smitb Barney LLC Alember SIPC. Graystone Consulting is a business of Morgan Stanley. FOSTER & FOSTER ACTUARIES 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 F/2018 11932 Net 30 1 3/30/2018 Preparation for and attendance at January 16, 2018 Board meeting (Board's share of expenses) Preparation of Exhibit'B' for attachment to the required Summary Plan Description. Benefit Calculations: POWELL, SNELL, KYZER (2) Buyback Calculations: KYZER Balance Due Thank you for your business! Please make all checks payable to: Foster & Foster, Inc. 13420 Parker Commons Blvd, Suite 104 Fort Myers, FL 33912 189.00 125.00 800.00 200.00 $1,314.00 sr SALEM TRUST City of Sebastian Debbie Krueger 1225 Main Street Sebastian, FL 32958 Fee Advice for Period Detail of Calculation: Flat Fee $500 for 6 additional accounts October 1, 2017 to Annual Fee $5,000.00 $3,000.00 $5.00 Security Transactions Current Period Year To Date 9/30/2017 785 1085 12/31 /2017 1554 2639 3/31 /2018 2639 6/30/2018 2639 (300 Included in annual fee) Total Total Amount Due These fees will automatically be charged to your account. If you have any questions, please contact Mindy Johnson at 813.288.4990 January 5, 2018 M05348 Sebastian Police December 31, 2017 $5.00 DEERRELD BEACH TAMPA 1715 N. WEMHORE BLVD., SUITE 750 TANWA, FL 33607 TEL (877) 382-5268 FAX (813)301-1295 www.s4lemtndf.com Quarterly Fee $1,250.00 $750.00 $7,770.00 $9,770.00 $9,770.00 Klausner, Kaufman, Jensen & Levinson A Partnership of Professional Associations Attorneys At Law 708d N.V4/. 4th Street Plantation i Florida 3331, Tel. (954) 916-1202 www.robertdklausner.com Fax (954) 916-1232 Tax I.D.: 454083636 I� SEBASTIAN POLICE OFFICERS' RETIREMENT SYSTEM January 31 2018 Attn: KEN KILLGORE Bill # 21187 1225 MAIN STREET ' SEBASTIAN, FL 32958 j For Legal Services Rendered Through 01/31/18 CLIENT: SEBASTIAN POLICE OFFICERS' RETIRE�IiIENT SYSTEM :170042 MATTER: SEBASTIAN POLICE OFFICERS' RETIRE ENT SYSTEM :170042 Professional Fees Date Attorney Description i Hours Amount 01/03/18 BSJ REVIEW EMAIL rEGARDIN!IG 0.10 42.50 TELEPHONE jC/jLL FROM EN JOHNSON; TELEPHONE C�LL WITH KEN KILLGORE REGARDING STATUS 01/11/18 BSJ PREPARATION OF MEETING 0.20 85.00 MATERIALS FOR UPCOMING MEETING. 01/14/18 BSJ REVIEW KEN JOHNSON M =DICAL FILE 2.50 1,062.50 01/15/18 BSJ PREPARE FOR MEETING AND 1.00 425.00 DISCUSSION WITH KEN KILLGORE AND ASSISTANT CHIF W1TT; REVIEW AGENDA, BACKUP, INCLUDING MINUTES OF;134CEMBER it AND DECEMBER 12, R017 1 01/16/18 BSJ TRAVEL TO AND; FROM METING 3.00 637.50 01/16/18 BSJ ATTEND MEETING 2.20 935.00 01/16/18 BSJ DISCUSSIONIWiTH KEN KI LGORE AND 0.80 340.00 ASSISTANT CHIEF WITT REGARDING DROP, BENEFITCALCULATIONS, AND UNUSED ACCUMULATED SICK AND VACATION LEA 01/17/18 BSJ REVIEW ANDj R9SPOND T EMAIL 0.10 42.50 FROM KEN KILL ORE PROVIDING OPERATING RULES 01/23/18 BSJ REVIEW FILE: REGARDING HARTFORD 0.50 212.50 IME; REVIEW MEDICAL RELEASE; DRAFT NEW REf.EASE I I i Continued .. . Client SEBASTIAN POLICE OFFICERS' RETIREMENT SYSTEM January 31, 2018 Matter. 170042 - SEBASTIAN POLICE OFFICERS' RETIREMENT Page 2 1 Professional Fees Continued... Date Attorney Description i Hours Amount 01/24/18 BSJ CORRESPONDENCE WITH KENNETH 0.10 42.50 JOHNSON REQUESTING EXECUTION OF HIPAA FORM. i 01/25/18 BSJ REVIEW OF EXECUTED H PAA FORM 0.10 42.50 FROM KENNETH JOHNSON. 01/25/18 BSJ CORRESPONDENCE WITI=1 DR. 0.20 85.00 KRISHNA VARAREQUEST NG KENNETH JOHNSON MED CAL RECORDS. ( ' 01/25/18 BSJ CORRESPONDENCE WITH DR. 0.20 85.00 AUGUSTIN S�NZ REQUES-TING KENNETH JOHNSON MEDICAL RECORDS. 01/25/18 BSJ CORRESPONDENCE WTITHE 0.20 85.00 HARTFORD REQUESTING IKENNETH JOHNSON MEDICAL RECORDS. 01/25/18 BSJ PHONE CALL TO THE HARTFORD 0.20 85.00 REQUESTING KENNETH JOHNSON IME RECORDS. . I Total for SerOlces j 11.40 $41207.50 CURRENT BILL TOTAL AMOUNT DUE $ 4,207.60 i i 1 � I 1 I VERO BEACH COURT REPORTERS INVOICE 3111 Cardinal Drive, Suite B Date Invoice # Vero Beach, FL 32963 2/21/2018 7933 verobeachcourtreporters,com Bill To City of Sebastian Kenneth W. Killgore 1225 Main Street Sebastian, Florida 32958 I30 Days I I Description Qty Rate Amount CITY OF SEBASTIAN PENSION BOARD MEETING 1-16-18 Court Reporter attendance for City of Sebastian Pension Board Meeting from 10:00 to 11:45 Transcript of Meeting Credit Card # Visa Mastercard Expires: Security Code Zip Code Signature Date Phone: 772-231-2231 email: vbcourtreporters@yahoo.com 150.00 150.00 9 5.00 45.00 We appreciate your bisiness. THANK wOU! Total $195.00 Prompt payment of this statement is required. Interest will accrue from 30 days at 1 112% monthly Administrative Solutions, Inc. 6106 River Run Drive Sebastian, Fl. 32958 772-388-2457 INVOICE City of Sebastian Attn: Jeanette Williams, City Clerk 1225 Main Street Sebastian, FL 32958 1/18/2018 .5% Description of Services Rendered Pages (W $16/pq Total In voice Minutes Preparation Budget Review 8-14-17 3.00 $48.00 3.00 Construction Board 10/24/17 2.00 $32.00 NRB 11/7/17 3 .00 $48.00 00 c I o 0 U r r.. .'0 ACCOU, 0 JL .S _. 'GCOUNTs.- 1Y. K 13 G Total Due This Invo ice $1)6.00 JANET M. GRAHAM TECHNICAL WRITER 97 OVERLOOK DRIVE SEBASTIAN, FL 32976 INVOICE City of Sebastian ATTN: Jean#6e Williams, City Clerk 1225 Main Street Sebastian, FL 32958 Description of Services Rendered 1 Natural Resources Board — 12-5-2017 2. Budget Advisory Committee- 1-29-2018 3. Natural Resources Board — 2-6-2018 4. "r A At 204 Total for This Invoice Account# 01 o090 —52.3400 P0. # Project # ho&f� .5 0 0 A �-33 y6c ccount # Proi .,ect # lauxUj "- Jq A-v (c. or y Arxxvmt: $ Dctte: - -145;; Number of Pages @$16.00 P-O I; I 3 .,Account# o0loef- 1/500/ O. # Proiect# g ROL". 0 t%mount: $ Date: 2-28-2018 Total Invoice $128.00 128.00 omw $416.00 31ei MCI HOME OF PELICAN ISLAND City of Sebastian 1225 Main Street Sebastian, Florida 32958 PNOICE TO: Sebastian Police Pension Trust Fund INVOICE: 1225 Main Street Date: Sebastian, FL 32958 Amount: DESCRIPTION Agreement With City of Sebastian Dated June 14, 2017 for Plan Administrator Services for months of January, February and March 2018. z�" PAYMENT DUE UPON RECEIPT. PLEASE RETURN COPY OF INVOICE WITH PAYMENT THANK YOU. TOTAL AMOUNT DUE Remit To: City of Sebastian - Attention Ken Killgore 1225 Main Street Sebastian, Florida 32958 3/l/2018 $6,000.00 AMOUNT DUE $69000.00 Account Code 00 150 1 -349620 J EXHIBIT A CITY OF SEBASTIAN POLICE OFFICERS' PENSION PLAN CALENDAR OF ACTIVITIES AND SCOPE OF SERVICES Updated September 2016 AS -NEEDED ACTIVITIES: 1. Verify and process payments from Trust Fund: a. Board Member travel expense reimbursements. b. Payments to Consultants. 2. Coordinate Board Member appointments: a. Election of Police Officer Board Members. b. Appointment of City Council Board Members. c. City Council confirmation of Board appointed Member. 3. Maintain records of contracts and insurance. 4. Prepare Information Packet for New Board Members: a. Ordinance. b. Current Contracts and Insurance Policy. 5. Maintain file of approved minutes. 6. Maintain information on members: a. Roster of retirees receiving pension benefits and health insurance. b. Beneficiary information on each member. 7. Monitor Monthly Statements from Custodian (record accounting entries). 8. Handle processing of member request(s): a. Discuss benefits with members. b. Research details of members history/vesting. c. Provide correct forms for member request(s). d. Submit benefit calculation request to Actuary. e. Coordinate with member(s) to complete paperwork: i. Send members the actuarial calculations. ii. Assist with completion of proper forms. iii. Submit proper forms: 1. For approval by Pension Board. 2. For setting up regular payments by Custodian. 9. Handle Inspection and Copying of Public Records Request and Insure Redaction on Documents. 10. Monitor proposed changes to State Law. 11. Track items needing Board action at the next quarterly meeting. 12. Handle Special Board Meetings: a. Compile agenda and back-up materials. I. Minutes from prior meeting. ii. Invoices to be paid. iii. Provide information on presentations and items for Board action. b. Coordinate attendance dates: I. With Consultants. ii. With Recording Secretary. iii. With other parties. c. Send agenda and back-up to Board Members or make arrangements for pick-up. d. Post Public Notices of the meeting. . 13. Coordinate presentation to City Council of proposed Ordinance changes. Page 1 of 4 EXHIBIT A CITY OF SEBASTIAN POLICE OFFICERS' PENSION PLAN CALENDAR OF ACTIVITIES AND SCOPE OF SERVICES Updated September 2016 JANUARY: 1. As -needed activities. FEBRUARY: 1. As -needed activities. MARCH: 1. As -needed activities. 2. Update Calendar of Activities (if needed). 3. Complete Annual State Report: a. Gather information on current members. b. Secure required forms from the Division of Retirement website. c. Complete forms and obtain Chairperson and Secretary signatures. 4. 1" Quarter Board Meeting: a. Compile agenda and back-up materials. i. Minutes from prior meeting. ii. Approval of Payments. iii. Approval of Calendar of Activities. iv. Investment and Performance Review. v. Request for Update of Summary Plan Description (every two years) vi. Report on completion of Annual State Report. b. Coordinate attendance dates: 1. With Recording Secretary. ii. With other parties. c. Send agenda and back-up to Board Members or make arrangements for pick-up. d. Follow-up to document minutes and take action on Board directives. APRIL: 1. As -needed activities. MAY: 1. As -needed activities. JUNE: 1. As -needed activities. 2. Request update of Summary Plan Description (every two years). 3. 2ND Quarter Board Meeting: a. Compile agenda and back-up materials. L Minutes from prior meeting. ii. Approval of Payments. iii. Approval of Calendar of Activities. iv. Investment and Performance Review. v. Select Board Chairperson and Secretary (every two years) vi. Approve the Summary Plan Description (if needed). b. Coordinate attendance dates: i. With Recording Secretary. ii. With other parties. c. Send agenda and back-up to Board Members or make arrangements for pick-up. d. Follow-up to document minutes and take action on Board directives. i. Distribute the Summary Plan Description to Members (if needed). Page 2 of 4 EXHIBIT A CITY OF SEBASTIAN POLICE OFFICERS' PENSION PLAN CALENDAR OF ACTIVITIES AND SCOPE OF SERVICES Updated September 2016 JULY: I. As -needed activities. 2. Board Members should file Financial Disclosure forms by July 1". AUGUST: 1. As -needed activities. 2. Handle receipt of State premium tax monies: a. Record receipt to City. b. Have Mayor acknowledge receipt to the State. c. Wire monies to Trust Fund. SEPTEMBER: 1. As -needed activities. 2. File for administrative hearing, if State premium tax. monies are not received. 3. Request Rate of Return Comparisons from Actuary. 4. Develop report on actual expenses and establish a budget for the next year. S. 3"d Quarter Board Meeting: a. Compile agenda and back-up materials: I. Minutes from prior meeting. ii. Approval of Payments. iii. Agree on Quarterly Meeting dates for following year. iv. Approval of Calendar of Activities. v. Investment and Performance Review. vi. Report on Determination and Disclosure of Illiquid Assets/Securities. vii. Report on receipt of State premium tax monies. viii. Year-to-date expenses and budget for the next year. ix. Information on Election Process for Police Officer Board Members (if needed). b. Coordinate attendance dates: i. With Recording Secretary. ii. With other parties. c. Send agenda and back-up to Board Members or make arrangements for pick-up. d. Follow-up to document minutes and take action on Board directives. i. Request City Council confirmation of Board appointed Member (if needed). ii. Request City Council action on City Council appointed Members (if needed). iii.. Advertise and conduct election of Police Officer Members (if needed). 6. Provide Actuary a report of annual wages/deductions of active/terminated members. OCTOBER: 1. As -needed activities. 2. File report on actual expenses and budget for the next year: a. With the City as Plan Sponsor. b. With the State Department of Management Services. c. With Chairperson to make available to members. 3. File report on investments to the City Council. 4. Update City website: a. Rate of Return Comparisons from Actuary. b. Actual expenses and budget for the next year. Page 3 of 4 EXHIBIT A CITY OF SEBASTIAN POLICE OFFICERS' PENSION PLAN CALENDAR OF ACTIVITIES AND SCOPE OF SERVICES Updated September 2016 NOVEMBER: I. As -needed activities. 2. Review Operating Rules and develop any recommended changes. 3. Renew Police Pension Board liability insurance policy. 4. Confirm schedule for receiving the Actuarial Report. 5. Request Updates of: a. Expected Rate of Return. b. GASB 67/68 Report. c. Report on Return and Asset Allocation. DECEMBER: 1. As -needed activities. 2. Receive Actuarial Report: a. Distribute to Board Members. b. Provide Copy to City Auditors. 3. 4th Quarter Board Meeting: a. Compile agenda and back-up materials: i. Minutes from prior meeting. ii. Invoices to be paid. iii. Approval of Calendar of Activities. iv. Consider Updates to Operating Rules. v. Report on Actual Operating Expense for the year. vi. Investment and Performance Review. vii. Consider Recommended Updates to Investment Policy and Allocation Strategy. viii. Accept the Actuarial Report. ix. Approve Expected Rate of Return. x. Confirm renewal of liability Insurance Policy. b. Coordinate attendance dates: i. With Recording Secretary. ii. With other parties. c. Send agenda and back-up to Board Members or make arrangements for pick-up. d. Follow-up to document minutes and take action on Board directives. i. Update City Website and give required notices of Changes to Investment Allocation Strategy and Investment Policy. 1. To the City Council. 2. To the Actuary and Other Consultants. 3. To the State. ii. Update City Website for Actuarial Report. iii. Update City Website and give required notices of Expected Rate of Return: 1. To the City Council. 2. To the Actuary and Other Consultants 3. To the State. 4. Post Actuary's GASB 67/68 Report to the City Website. 5. Post Report on Return and Asset Allocation to City Website. Page 4 of 4 Florida Division of Retirement - FRS Online Page 1 of 1 Welcome - My Account Confirmation Profile Settings - ------ - --------- ---- -- -- Local Retirement KENNETH KILLGORE, you have successfully submitted a new Police and Fire report for "SEBASTIAN Police and Fire (175/185) - P (City of Sebastian Police Officers' Retirement System)" on 03/15/2018 10:56:44. . FRS Home F.A.Q. Start Over Print Forms - - - - -- - - - - - - Contact Us _ Log Out------ https://www.rol.frs.state.fl.us/local_retirement/PoliceAndFire.aspx?s=tFl g9RyHaOxUhGWgkdyW60iRKEt... 3/15/2018 {� LRO02 Report Status: submitted Plan And Contacts Plan Name of Fund City For Plan Year Ending Plan Contacts Chairman Name Address Line 1 Address Line 2 City Zip Telephone Email Secretary Name Address Line 1 Address Line 2 City Zip Telephone Email 3/15/2018 10:58:21 AM Florida Retirement System Police and Fire Annual Report City of Sebastian Municipal Police Officers' Fund City of Sebastian 9/30/2017 Jason Gillette 1225 Main Street Sebastian 32958 772-388-8550 jillette@cityofsebastian.org Christine Vicars 1225 Main Street Sebastian 32958 772-589-8073 vicarschristine@gmail.com Pagel of 20 a LRO02 Report Status: submitted Plan Contact Person Name Address Line 1 Address Line 2 City Zip Telephone Email Kenneth W. Killgore 1225 Maln'Street Sebastian 32958 772-388-8205 kkiligore@cityofsebastian.org 3/15/2018 10:58:21 AM Page 2 of 20 LRO02 Report Status: submitted Board, Ordinances, and Details Board of Trustees Makeup of board specified in: Ordinance Number 0-17-03 Section 58-48 Dated 8/23/2017 Board Members Name of Trustee Paul Williamson Jason Gillette Christine Vicars Randy Moyer Tim Wood Quarterly Meetings Quarter 1 Meeting Date 12/13/2016 Quarter 2 Meeting Date 3/21/2017 Quarter 3 Meeting Date 6/20/2017 Quarter 4 Meeting Date 9/19/2017 Additional Meetings Additional Meeting Date 3/15/2018 10:58:21 AM Elected/Appointed By Elected Fifth Member Police Officer City/District Appointee City/District Appointee Police Officer Page 3 of 20 LRO02 3/15/2018 10:58:21 AM Report Status: submitted Ordinances Ordinance Number Date Passed 0-17-03 8/23/2017 12:00:00 AM Miscellaneous Plan Details Chapter Minimum Benefits Does the plan meet all the chapter minimum benefits and standards as of July 1, 2015? Y Collective Bargaining Agreement. Is service in the plan subject to a collective bargaining agreement? Y Effective Date 10/1 /2016 Period Covered Begin Date 10/1/2016 Period Covered End Date 9/30/2019 Next Scheduled Date 10/1 /2019 Mutual Consent* Y Defined Contribution Plan Does the plan have a defined contribution plan? Y Date Established 9/28/2016 Explain Detailed Accounting Report Has the plan submitted a detailed accounting report for this filing? Y Date Provided to Plan Sponsor, Explain Administrative Expense Budget Did the plan operate under an administrative expense budget? Y Page 4 of 20 LR002 Report Status: submitted Date Provided to Plan Sponsor 9/19/2017 Explain Notes 3/15/2018 10:58:21 AM Page 5 of 20 LR002 Report Status: submitted Third Party Contacts Third Party Contacts Actuarial Valuation Firm Name Contact Person Address Line 1 Address Line 2 City Zip Telephone Email Date Of Valuation Period Covered Begin Date Period Covered End Date Certified Public Accountant Firm Name Contact Person Address Line 1 Address Line 2 City Zip Telephone Email 3/15/2018 10:58:21 AM Foster & Foster Douglas H. Lozen 13420 Parker Commons Blvd. #104 Fort Myers 33912 239-433-5500 doug@foster-foster.com 10/1 /2017 10/1/2017 9/30/2019 Rehman Robson Ross Cotherman 5070 N. Highway Al A, Suite 250 Vero Beach 32963 772-234-8485 Ross.Cotherman@rehmann.com Page 6 of 20 LRO02 Report Status: submitted Money Manager Firm Contact Address Address Name Name Line 1 Line 2 Highland Grant 255 S. Capital McMurry Orange Avenue, Suite 1201 Boston Derek One Partners Dolan Beacon Street, 30th Floor Interconti Paul J. 1270 nental Nasser Soldiers Real Field Road Estate Corporati on Fiera Myron 10050 Capital, Charas Innovation Inc. Drive, Suite 120 Renaissa Steve 50 East nce Frakes Rivercente r Blvd. Suite 1200 Center Reachel 1600 Smith Coast Hollowell Suite 3800 Capital . Performance Evaluation Firm Name Contact Person Address Line 1 Address Line 2 City Zip Telephone Email Date Of Valuation Period Covered Begin Date 3/15/2018 10:58:21 AM City Zip Phone Email Valuation Period Period Date Begin End Orlando 32801 800-480- gmcmurry@ 9/30/2016 7/1/2016 9/30/2016 6445 highlandcap .com Boston, MA 02108 617-832- DDolan@bo 9/30/2016 7/1/2016 9/30/2016 8116 nton- partners.co m Boston, MA 02135 617-782- pauln@inter 9/30/2016 7/112016 9/30/2016 -1003 2600 continental. net Dayton OH 45342 937-388- mcharas@fi 9/30/2016 7/1/2016 9/30/2016 1437 eracapital.c om Covington 41011 513-723- smf@reninv 9/30/2016 7/1/2016 9/30/2016 KY 4523 .com Houston TX 77002 713-526- centercoast 9/30/2016 7/1/2016 9/30/2016 3366 capital.com Graystone Consulting Tampa Scott Owens 100 North Tampa Street, Suite 3000 Tampa 33602 800-282-0655 scott.owens@msgraystone.com 9/30/2017 7/1/2017 Page 7 of 20 LRO02 Report Status: submitted Period Covered End Date Legal Advisor Firm Name Contact Person Address Line 1 Address Line 2 City Zip Telephone Email Plan Administrator Firm Name Contact Person Address Line 1 Address Line 2 City Zip Telephone Email Notes 3/15/2018 10:58:21 AM 9/30/2017 Christiansen & Dehner H. Lee Dehner 633 Sarasota Blvd. Suite 107 Sarasota 34220 941-377-2200 lee@cdpension.com Salem Trust Company Mindy Johnson 1715 N. Westshore Blvd #750 Tampa 33607 877-382-5268 Mindy.Johnson@salemtrust.com Page 8 of 20 LRO02 Report Status: submitted Assets Assets - Market Value Cash, Checking and Savings Institution Holding Deposit I Amount I Total Cash, Check and Savings $0.00 Certificates of Deposit Institution Holding Deposit I Amount I Total Certificates of Deposit $0.00 Short Term Investments Institution Holding Deposit Amount Salem Trust Company $1,469.538.95 $0.00 Total Short Term Investments $1,469,538.95 Other Cash and Equivalents Institution Holding Deposit I Amount I Total Other Cash and Equivalents $0.00 U.S. Bonds and Bills Institution Holding Deposit Amount $0.00 Salem Trust Company $713,872.01 Total U.S. Bonds and Bills $713,872.01 Federal Agency Guaranteed Securities Institution Holding Deposit Amount $0.00 3/15/2018 10:58:21 AM Interest Rate Interest Rate Interest Rate Interest Rate i Interest Rate Interest Rate Page 9 of 20 LRO02 Report Status: submitted Salem Trust Company I $730,356.66 Total Federal Agency Guaranteed Securities $730,356.66 Corporate Bonds Institution Holding Deposit Amount Salem Trust Company $1,670,218.91 $0.00 Total Corporate Bonds $1,670,218.91 Stocks Institution Holding Deposit Amount $0.00 Salem Trust Company I $8,647,555.96 Total Stocks $8,647,555.96 Other Securities Institution Holding Deposit Amount $0.00 Salem Trust Company $602,941.15 Total Other Securities $602,941.15 Real Estate Institution Holding Deposit I Amount I Total Real Estate $0.00 Investments Held By Insurance Company Institution Holding Deposit I Amount Total Investments Held By Insurance Company $0.00 Other Investments Interest Rate Interest Rate Interest Rate Interest Rate Interest Rate 3/15/2018 10:58:21 AM Page 10 of 20 LRO02 Report Status: submitted Institution Holding Deposit Amount $0.00 Salem Trust Company $133,117.27 Total Other Investments $133,117.27 Account Receivable Due From I Date of Payment Total Accounts Receivable $0.00 Other Assets Asset Name Accrued Income Total Other Assets $34,918.35 Accrued Interest $0.00 Total Assets for the year 9/30/2017 $14,002,519.26 Notes IInterest Rate Amount Asset Amount $0.00 $34,918.35 3/15/2018 10:58:21 AM Page 11 of 20 LRO02 Report Status: submitted Liabilities Liabilities Refunds Payable Pensions Payable Unpaid Expenses DROP Plan Payable Prepaid Contributions Other Liabilities Liability Name Total Other Liabilities $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Liability Amount $0.00 Total Liabilities for the year ended 9/30/2017 $0.00 Notes Use the following text box to add any notes about the above. No liabilities to report. 3/15/2018 10:58:21 AM Page 12 of 20 LRO02 Report Status: submitted Revenues Revenues Contributions From Active Members $177,584.70 State of Florida Premium Tax Monies Date of Deposit Amount 8/31 /2017 $168,628.24 Total State of Florida Premium Tax Monies City Contributions Date of Deposit Amount 1/1/0001 $0.00 12/30/2016 $337,201.00 1 /1 /0001 $0.00 Total City Contributions $337,201.00 Contributions From City on Behalf of Active Members Buybacks/Repayment of Contributions Unrealized Gains/Losses Interests and Dividends Gains From Sale of Investments Other Revenues Name Total Revenues for the year ended 9/30/2017 $168,628.24 Notes Notes $0.00 $1,113,658.64 $341,050.32 $0.00 Amount $0.00 $2,138,122.90 3/15/2018 10:58:21 AM Page 13 of 20 LRO02 Report Status: submitted Payroll Total Calendar Year Payroll (Police) $3,027,000.00 Total Calendar Year Payroll (Fire) $0.00 If lower than last year, or significantly higher, please explain. Notes Use the following text box to add any notes about the above. 3/15/2018 10:58:21 AM Page 14 of 20 LRO02 3/15/2018 10:58:21 AM Report Status: submitted Expenditures Expenditures Retirement Pension Payments $469,482.48 Disability Pension Payments $24.282.84 Terminated Vested Pension Payments $0.00. Beneficiary Pension Payments $0.00 Total Pension Payments $493,765.32 Termination Payments $1,863.92 DROP Plan Payments $0.00 Insurance Premium Payments $3,021.05 Detail of Expenses - Must include expenses required in section 185.05(8)(a)l. and 175.061(8)(a)l. at a minimum. Name Amount Legal Services $24,160.53 Actuary Fees $17,707.00 Performance Monitor I $13,500.00 Total Detail of Expenses $55,367.53 Investment Expenses Name Amount Money Manager $60,479.75 Custodian $7,245.00 ADR Fees and Other Charges $2,570.66 Total Deposits $70,295.41 Loss From Sale of Investments $0.00 Other Expenditures IName I Amount I Page 15 of 20 LRO02 Report Status: submitted Total Expenditures for 9/30/2017 $624,313.23 Notes 3/15/2018 10:58:21 AM I Page 16 of 20 LRO02 3/15/2018 10:58:21 AM Report Status: submitted Fund Totals Verify Totals Total Assets $14,002,519.26 Less: Total Liabilities $0.00 Fund Balance'" $14,002,519.26 Fund Balance Beginning of Year $12,488,709.59 Add: Total Revenues $2,138,122.90 Less: Total Expenditures $624,313.23 Fund Balance as of 9/30/2017 $14,002,519.26 'Fund Balances must agree Notes Page 17 of 20 LRO02 3/15/2018 10:58:21 AM Report Status: submitted Investments Investment Compliance Investment Provisions Ordinance Number 0-15-01 Section 58-49 Date 2/25/2015 Written Investment Policy Has the board adopted a written investment policy in accordance with the requirements of section 112.661, F.S., and submitted a copy of this policy to the Bureau of Local Retirement Systems?Y Date Established 12/13/2016 Expected Annual Rate of Return Has the board determined the total expected annual rate of return for the current year, for each of the next several years, and for the long term hereafter pursuant to s. 112.661(9), Florida Statues, and submitted to the Bureau of Local Retirement Systems?Y Date Established 3/24/2017 Summary Plan Description Has the board prepared a summary plan description (SPD) in accordance with the requirements of the section 112.66 Florida Statues? The SPD shall be furnished to a member upon employment and thereafter with each new biennial publication. Y Date Established 12/1 /2017 Divestiture Provisions Has the board complied with the divestiture provisions found in S. 175.071(8) and 185.06(7) Florida Statutes?Y Date Established Page 18 of 20 LRO02 Report Status: submitted 3/15/2018 10:58:21 AM For valuations dated on or after 1/1/16 all plans must use the mortality tables used in either of the two most recently published actuarial valuation reports of the Florida Retirement System. Note: State premium tax moneys may not be released until the plan has complied with the statutory provisions. Notes Page 19 of 20 LRO02 Report Status: submitted Insured Plans 3/15/2018 10:58:21 AM Insured plans must have the following document forwarded to the insurance company for completion and returned to the municipality as soon as possible, but prior to filiing date of the report. Notes N/A Page 20 of 20 CITY OF SEBASTIAN, FLORIDA POLICE PENSION FUND - 2017/2018 BUDGET VS. ACTUAL Reported to Police Pension Board March 20, 2018 Approved Historical Annual Operating Expenses Thru March 1S, 2018 2017/2018 2017/2018 To Date 2016/2017 2015/2016 - 2014/2015 2013/2014 Annual Operating Expenses Total 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total Total Total Total Total Bud a 10/1-12/31 1/1- 3/31 Ji - 6/30 7 1- 9 0 Actual Actual Actual Actual Actual Investment Managers: Highland Capital Boston Parners Fiera Capital Renaissance Center Coast Intercontinental Performance Manager - Graystone Morgan Stanley - Graystone Consulting Salem Trust Company - Base fee, plus security trai ADR Agent Fee - Foreign Dividends Sub -total Investment Expense Actuarial - Foster $ Foster Legal Services Administrative Fee to City Insurance Miscellaneous Minutes Preparation Codification of Approved Ordinance(s) Travel Sub -total Administrative Expense Total Operating Expenses $ 60,000 $ 28,939.99 $ 13,483.12 3,500 1,453.65 1,777.77 3,500 1,026.40 1,405.79 3,500 1,389.13 2,728.51 3,500 660.28 805.77 3,500 13,500 3,375.00 3,375.00 6,500 5,925.00 9,770.00 S00 $ 98,000 $ 42,769.4S $ 32,34S.96 $ 20,000 12,295.00 1,314.00 20,000 2,678.92 4,20750 6,000.00 6,000.00 3,200 2,585.00 500 - 128.00 722.00 900 598.20 1,000 $ 45,600 $ 24,28S.12 $ 12,243.50 $ $ 143,600 $ 67,054.57 $ 44,589.46 $ $ 42,423.12 60,479.85 $ 42,352.99 $ 64,402.32 $ 58,710.23 3,231.42 2,432.19 3,117.64 1,466.05 6,750.00 13,500.00 13,500.00 16,875.00 15,000.00 15,695.00 7,245.00 6,265.00 6,615.00 5,295.00 - 581.24 451.80 141.44 186.69 - $ - $ 75,11S.41 81,806.09 $ 62,569.79 $ 88,033.76 $ 79,191.92 13,609.00 13,331.00 14,765.00 21,398.00 15,544.00 6,886.42 29,011.01 18,294.60 17,189.16 7,623.64 12,000.00 2,585.00 3,021.05 3,121.05 3,121.05 3,000.00 - 1,222.07 1,646.76 850.00 598.20 - 695.50 101.90 - - $ - $ 36,528.67. 45,363.06 $ 36,876.15 $ 43,032.18 $ 27,814.40 - $ - $ 112,644.03 127,169.15 $ 99,445.94 $ 131,065.94 $ 207,006.32 Client Memorandum To: Florida Pension Clients From: Klausner. Kaufman. Jensen & Levinson Date: 3/8/2018 Re: Pendin`c PTSD bill (S13 376) MEMORANDUM The purpose of this memo is to provide a preliminary summary of the "PTSD bill- (S13 376) which was adopted by a vote of 33-0 in the Senate and 1 l4-0 in the House. The Governor has until klarch 27 to decide whether or not to veto the bill. if S13 376 becomes law. the Division of Financial Services will also be adopting rules. 13y wav of background. S13 376 grew out of at least three publically reported cases of PTSD resulting from the 2016 Pulse nightclub shooting in Orlando. A prior version of the bill failed to advance last year, but gained momentum this year in the aftermath of the Marjory Stoneman Douglas 1ligh School shooting. A press release from the State fire Marshall and last minute support from the League of Cities were factors contributing to the Legislature's unanimous vote. .'13 376 amends Section 112.1815. Florida Statutes_ governing emplovillent-related accidents and injuries for first responders. The bill revises the workers" compensation "impact rule." As a result_ physical injury is no longer required for a first responder to receive workers' compensation indemnity henefits for vrSD. Mile the bill is primarily intended to extend workers' compensation benefits under Chapter 440, the bill is anticipated to broad])• apply to first responder "benefits." including Chapters 175 and 185. Sl3 376's definitions and procedural requirements are summarized below. The specific workers' compensation provisions of the bill are beyond the scope of this memo. Section (5)(a) provides that postttauniatic stress disorder (PTSD). as described in the Fifth Edition ol'the Diagnostic and Statistical N-lanual of Mental Disorders. will now be recognized as it compenkahle occupational disease provided that the requirements of'Sli 376 are satisfied. 7080 NORTHWEST 4TH STREET. PLANTATION, FLORIDA 33317 PHONE: (954) 916-1202 - FAx7 (954) 916-1232 www.robertdkIausner.com (00103782.DOMI) m To be eligible for workers' compensation indemnity benefits the following hurdles must be met under Section (5)(a) and (b): • The PTSD resulted from the first responder "acting within the course of his or her employment." • The first responder has been diagnosed with PTSD by a licensed psychiatrist. • The PTSD must be demonstrated by "clear and convincing medical evidence." • The first responder submits a Notice of Injury within 90 days of the later of the "qualifying event" or the "manifestation" of the PTSD. The claim will be barred if it is not filed within 52 weeks of the qualifying event. o One of the following eleven circumstances ("qualifying events") must be present: 1. "Seeing for oneself a deceased minor'; 2. Directly witnessing the death of a minor; 3. Directly witnessing an injury to a minor who subsequently dies before or upon arrival at a hospital; 4. Participating in the physical treatment of an injured minor who subsequently dies before or upon arrival at a hospital: 5. "Manually transporting" an injured minor who subsequently dies before or upon arrival at a hospital; 6. "Seeing for oneself a decedent whose death involved grievous bodily harm of a nature that shocks the conscience" (grievous bodily harm): ' 7. Directly witnessing a death that involves grievous bodily harm: 8. Directly witnessing a homicide; 9. Directly witnessing an injury to a person who subsequently dies before or upon arrival at a hospital with grievous bodily harm; 10. Participating in the physical treatment of an injury to a person who subsequently dies before or upon arrival at a hospital with grievous bodily Kann; or 11. Nlanually transporting a person who is injured and subsequently dies before or upon arrival at a hospital with grievous bodily harm. As is evident from this list, these eleven requirements are tact intensive and in many cases depend oil tilt: eventual definition of the new. undefined term `'grievous bodily harm of a nature that shocks the conscience.- For this reason. the Department of Financial Services is required to adopt rules. All employing agencies will be required to provide educational training relating to mental health awareness. prevention, mitigation and treatment. 100103782.oOUM MEMORANDUM TO: City of Sebastian Police Officers' Retirement System FROM: Bonni S. Jensen i (I RE: Federal, State, and Local Death Benefits DATE: March 2018 As we are all painfully aware, first responders are now subject to far more accidents and violence than in the past. In 2017 so far in Florida alone,11 first responders have been killed in the line of duty - 2 firefighters and 9 police officers. Below is a description of the federal, state, and local benefits that are provided to support the families of first responders killed in the line of duty. Federal Public Safetv Officer Benefits (PSOB) The PSOB Program provides death benefits in the form of a one-time lump sum payment to eligible survivors of public safety officers whose deaths are the direct and proximate result of a traumatic injury sustained in the line of duty. For deaths occurring on or after October 1, 2017, the PSOB benefit is approximately $350,000.00. Certain educational benefits are also available for eligible survivors if they meet a very fact specific set of criteria. The application process for these benefits is lengthy and requires the submission of a number of documents as well as personal information. The application and review process can span many months. These benefits can be applied for at www.osob.00v. Additionally, the federal government offers the Public Safety Officers' Education Assistance (PSOEA) Program. This program provides financial assistance forthe spouses and eligible children of local police, fire, and emergency public safety officers who have been killed or permanently disabled in the line of duty seeking higher education. The PSOEA benefit is available after the PSOB death or disability claim has been approved. (►gI404050 W111),I 7080 NORTHWEs'I 4TH STt«F.-r, PLANTATION, FLORIDA 33317 PHONE. (954) 916-1202 - FAX: (954) 916-1232 www.robertdklausner.com Federal, State, and Local Death Benefits Page 2 State of Florida Death Benefits 1. Lump Sum Section 112.19(2) & Section 112.191(2), Florida Statutes The following benefit(s) is payable to the first responder's named beneficiary for their life: a. $50,000.00 if the death is accidental. b. $ 100,000.00 if: (i) the death is accidental and the officer was in "fresh pursuit" or responding to an emergency; or (ii) the death is accidental and the firefighter was responding to an emergency involving the protection of life or property, or participation in a training exercise. c. $150,000.00 if unlawfully and intentionally killed. Under Sections 112.19(2)(j) and 112.191(2)(i), the above mentioned benefits are required to be adjusted to reflect the current Consumer Price Index. The current adjusted benefit amounts are: a. $65,576.04 b. $131,152.08 C. $197,677.91 2. Funeral Benefits (Police Only) Section 112.19(f), Florida Statutes The following benefit(s) are payable if a law enforcement, correctional or correctional probation officer is killed in the line of duty while engaged in the performance of law enforcement duties or as the result of an assault under riot conditions: 1. $1,000 toward the funeral expenses of the deceased officer. 2. Up to $5,000 may be paid by the officer's employing agency toward venue expenses associated with the funeral and burial of the officer. i)tMW();0ANTD.! Federal, State, and Local Death Benefits Page 3 3. Health Insurance Section 112.19(2)(g) & Section 112.191(f), Florida Statutes Any political subdivision of the state that employs a full-time law enforcement officer, corrections officer, or.firefighter who is killed in the line of duty on after July 1, 1993, as a result of: (i) an act of violence inflicted by another person while the officer is engaged in the performance of law enforcement duties, or as a result of an assault against the officer under riot conditions; or (ii) an act of violence inflicted by another person while the firefighter is engaged in the performance of firefighter duties, or as a result of a fire which has been determined to have been caused by an act of arson, or as a result of an assault of the firefighter under riot conditions shall pay the entire health insurance premium for the employee's surviving spouse, until they remarry, and for each dependent child of the employee until the child reaches the age of majority or until the end of the calendar year in which the child turns 25 if: at the time of the employee's death, the child is dependent upon the employee for support; and the surviving child continues to be dependent for support, of the surviving child is a full-time or part-time student and is dependent for support. 4. Educational Benefits Section 112.19(3) & Section 112.191(3), Florida Statutes Benefits provide for waiver of certain educational expenses that the surviving spouse or child of the deceased first responder would incur while obtaining a career certificate, undergraduate or post graduate degree from a Florida public college or university.. This benefit applies to first responders who were accidentally killed on or after June 22,1990 or unlawfully and intentionally killed on or after July 1, 1980. Benefits under this section will continue until the child reaches age 25. Benefits for a surviving spouse must commence within 5 years after the death occurs, and the opportunity will remain available until the 10' anniversary of the death. Workers Compensation Benefits Section 440.16, Florida Statutes (XI10 th-O.W110.1 Federal, State, and Local Death Benefits Page 4 Workers' Compensation Benefits are payable to law enforcement officers, firefighters, emergency medical technicians and paramedics who die while acting in the line of duty or as the result of an accident occurring in the line of duty. - Benefits are payable if death results from the accident within 1 year or follows continuous disability and results in death within 5 years of the accident. Under this section, the following amounts shall be paid: a. Within 14 days of receiving a bill, the cost of actual funeral expenses not to exceed $7,500.00. b. Compensation not to exceed $150,000 or 66 2/3% of average wage payable to the following order of preference: 1) To the spouse, if no child, 50% of average weekly wage until the spouse's death. 2) To the spouse, if there is a child, compensation under (1), plus an additional 16 2/3%. 3) To the child(ren), if no spouse, 33 1/3% for each child to age 18 or remarriage. 4) To the parents, 25% each, during continuance of dependency. 5) To siblings and grandchildren, 15% for each brother, sister, or grandchild. C. Full waiver of Postsecondary student fees for instruction at any career center for up to 1,800 classroom hours or payment of student fees at any community college for up to 80 semester hours. The benefits are in addition to other benefits provided and shall terminate 7 years after the death of the deceased employee, or when the total payment in eligible compensation under paragraph b has been received. Pension Plan Benefits See attached for Section 58-52 of the Plan Document, which sets forth the death benefits provided by your plan. I4I1 U416 ), I% !'ti, I Sebastian. 1=L Code of Ordinances Sec. 58-52. - Pre -retirement death. Page I of 3 (a) Prior to vesting or eligibility for retirement. The beneficiary of a deceased member who was not receiving monthly benefits or who was not yet vested or eligible for early or normal retirement shall receive a refund of 100 percent of the member's accumulated contributions. (b) Deceased members vested or eligible for retirement with spouse as beneficiary. This subsection (b) applies only when the member's spouse is the sole designated beneficiary. The spouse beneficiary of any member who dies and who, at the date of his death was vested or eligible for early or normal retirement, shall be entitled to a benefit as follows: (1) If the member was vested, but not eligible for normal or early retirement, the spouse beneficiary shall receive a benefit payable for ten years, beginning on the date that the deceased member would have been eligible for early or normal retirement, at the option of the spouse beneficiary. The benefit shall be -calculated as for normal retirement based on the deceased member's credited service and average final compensation as of the date of his death and reduced as for early retirement, if applicable. The spouse beneficiary may also elect to receive an immediate benefit, payable for ten years, which is actuarially reduced to reflect the commencement of benefits prior to the early retirement date. (2) if the deceased member was eligible for normal or early retirement, the spouse beneficiary shall receive a benefit payable for ten years, beginning on the first day of the month following the member's death or at the deceased member's otherwise early or normal retirement date, at the option of the spouse beneficiary. The benefit shall be calculated as for normal retirement based on the deceased member's credited service and average final compensation as of the date of his death and reduced as for early retirement, if applicable. (3) A spouse beneficiary may not elect an optional form of benefit, however, the board may elect to make a lump sum payment pursuant to section 58-55(g). (4) A spouse beneficiary may, in lieu of any benefit provided for in (1) or (2) above, elect to receive a refund of the deceased member's accumulated contributions. (5) about -blank 3/ 13/2018 Sebastian. FL Code oi'Ordinances Notwithstanding anything contained in this section to the contrary, in any event, distributions to the spouse beneficiary will begin by December 31 of the calendar year immediately following the calendar year in which the member died, or by a date selected pursuant to the above provisions in this section that must be on or before December 31 of the calendar year in which the member would have attained 70'f2. Page 2 of 3 (6) If the surviving spouse beneficiary commences receiving a benefit under subsection (1) or (2) above, but dies before all payments are made, the actuarial value of the remaining benefit will be paid to the spouse beneficiary's estate in a lump sum. (c) Deceased members vested or eligible for retirement with non -spouse beneficiary. This subsection applies only when the member's spouse is not the beneficiary or is not the sole designated beneficiary, but there is a surviving beneficiary. The beneficiary of any member who dies and who, at the date of his death was vested or eligible for early or normal retirement, shall be entitled to a benefit as follows: (1) If the member was vested, but not eligible for normal or early retirement, the beneficiary will receive a benefit payable for ten years. The benefit will begin by December 31 of the calendar year immediately following the calendar year in which the. member died. The benefit will be calculated as for normal retirement based on the deceased member's credited service and average final compensation and actuarially reduced to reflect the commencement of benefits prior to the normal retirement date. (2) If the deceased member was eligible for normal or early retirement, the beneficiary will receive a benefit payable for ten years, beginning on the first day of the month following the member's death. The benefit will be calculated as for normal retirement based on the deceased member's credited service and average final compensation as of the date of his death and reduced for early retirement, if applicable. (3) A beneficiary may not elect an optional form of benefit, however the board may elect to make a lump sum payment pursuant to section 58-55(g). (4) A beneficiary, may, in lieu of any benefit provided for in (1) or (2) above, elect to receive a refund of the deceased member's accumulated contributions. (5) iNmit-blank 3 13!?O 1 S Sebastian, FL Code of Ordinances Page 3 of-3 If a surviving beneficiary commences receiving a benefit under subsection (1) or (2) above, but dies before all payments are made, the actuarial value of the remaining benefit will be paid to the surviving beneficiary's estate by December 31 of.the calendar year of the beneficiary's death in a lump sum. (6) If there is no surviving beneficiary as of the member's death, and the estate is to receive the benefits, the actuarial equivalent of the member's entire interest must be distributed by December 31 of the calendar year containing the fifth anniversary of the member's death. (7) The Uniform Lifetime Table in Treasury Regulations § 1.401(a)(9)-9 shall determine the payment period for the calendar year benefits commence, if necessary to satisfy the regulations. (Ord. No. 0-15-01, § 1(Att.), 2-25-15) ahout:blank 3113/'_>018