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HomeMy WebLinkAbout06-26-2018 AgendaMOF 1;t�o HOME OF PELICAN ISLAND PUBLIC NOTICE — POLICE PENSION BOARD MEETING; ,June 26,2018 The Police Pension Board will hold a regular quarter meeting Tuesday, June 26, 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 BOAR _D MEMBER(S) Chairperson (Jason Gillette has requested an excused absence.) APPROVAL OF MINUTES: Chairperson A. January 16, 2018 Special Meeting -- Actuarial Report B. February 9, 2018 Special Meeting — Certification of Election (Corrected) C. February 9, 2018 Special Meeting — Disability Hearing (Corrected) D]. March 20, 2018 Regular Quarterly Meeting E. April 7, 2018 Special Meeting — Follow-up Disability Hearing OLD BUSINESS A. Approval of Payments: a. KlaUsner, Kaufman, Jensen & Levinson b. Morgan Stanley c. KlaUsner, Kaufman, Jensen & Levinson d. City of Sebastian — Reimbursement Health First c. City of Sebastian - Janet M. Graham Payment f. City of Sebastian - Janet M. Graham Payment B. Review of Annual Calendar of Board Activities PUBLIC INPUT A. Report on Florida Retirement System Police and Fire Annual Report B. Review Administrative Expenses and Amend Annual Budget C. Report from Investment Monitor D, Report from Investment Manager E, Legal Updates F. Board Member Reports and Comments G, Plan Administrator Reports and Comments 11, Next Quarterly Meeting: June 19, 2019 W 101 j rol Ken Killgore, Plan Administrator 11,499.88 3,375.00 $ 467.50 $ 1,344.00 $ 48.00 $ 64,00 Ken Killgore., Plan Administrator Chairperson Ken Killgore, Plan Administrator Ken Killgore, Plan Administrator Charlie Mulfinger, Morgan Stanley (Grant McMurry of Highland Capital has a conflict and will not attend.) Bonni S. Jensen, KlaUsner, Kaufman, Jensen & Levinson Chairperson Ken Killgore, Plan Administrator Chairperson Please note: In accordance with Florida Statue 286.O 105: any person wlio 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, Fh)rida32958, or telephone 772-388-8205, \\\© #. \� ■�2��* ; }�\�:+««��.\■�f CITY HALL 1225 MAIN STREET 'S BAS IA FLORIDA 295 RICH SNELL, CHAIRPERSON ,# 2N (JA BOARD MEMBER PAUL ILLI M O \.BOAR$ MEMBER CHRISTINE VICARS1 BOARD MEMBER KENNETH W. KILLGORE,#$ARD ADMINISTRATOR CYNTHIA2:lTSON «# MANAGE_ BONNI S. \ENSEN ESQUIRE, BOARD ATTORNEY 0 2 y Ta 70 WE 3 (Whereupon,, at 9:59 a.m. the meeting was called 4 to order by Chairperson Snell.) 5 VOTE TO EXCUSE ABSENT BOARD MEMBER(S) 6 (Whereupon, all board members were present.) 7 APPROVAL OF MINUTES 8 A. Special Meeting December 11, 2017. 9 B. Quarterly Meeting December 12, 2017 10 CHAIRPERSON SNELL: Motion: to approve? 11 BOARD MEMBER WILLIAMSON: I'll make a motion to 1-2 approve. 13 CHAIRPERSON SNELL: Anid' I'll second that motion. 14 All in favor? is (ALL MEMBERS ANSWERED AYE'.) 16 CHAIRPERSON SNELL: Any discussion on it? 17 (NO RESPONSE.) 18 Whereupon, Mr. Killgore addressed the services of the court 19 reporter and the City Clerk wanting uniformity of the minutes 20 format. Questions were asked by Board Member Williamson and 21 Chairperson Snell. Answers to questions were provided by Mr. 22 Killgore and Board Attorney Bonni Jensen. 23 CHAIRPERSON SNELL. I'll make a motion that we 24 transfer to the uniformity of the City Clerk's wishes and 25 use their minute taker. VERO BEACH COURT REPORTERS 772-231--2231 3 1 BOARD MEMBER WILLIAMSON: And I will second it. 2 CHAIRPERSON SNELL: All' in favor? Aye. 3 (ALL MEMBERS ANSWERED AYE.) 4 CHAIRPERSON SNELL: All against? 5 (NO RESPONSE.) 6 Whereupon, Mr. Killgore apprised the board that he is now 7 resigned from the board and serving just in an administrative 8 capacity so only four votes have been given. 9 CHAIRPERSON SNELL: Any more discussion on it? 1-0 1 apologize, I didn't ask for any discussion before asking 11 for approval. 12 (NO RESPONSE.) 1.3 CHAIRPERSON SNELL: Okay. We'll go back to 14 that: For the approval on the minutes. We'll redo that. is Item A. Special meeting of December 11, 2017 and Item B. 16 Quarterly meeting on December 12, 2017. Any motions for 17 approval? 18 BOARD MEMBER VICARS: I'll motion. 19 CHAIRPERSON SNELL. And I'll second'. All in 20 favor? Aye. 21 (ALL MEMBERS ANSWERED AYE.) 22 CHAIRPERSON SNELL: All aiga!inst? 23 (NO RESPONSE.) 24 OLD BUSINESS 25 A. Approval of Payments: 4 I a. Highland Capital Management (July -September) 2 $15,846.25 3 b., Highland Capital Management (October -December) 4 $13,093.74 5 c. Christiansen & Dehner (November) $298.92 6 d. Christiansen & Dehner (December) $2,380.00 7 e. Vero Beach Court Reporters (12/11/17 & 12/12/17') 8 $415.00 9 f. City of Sebastian Plan Administrator Services 10 ((act -Dec.) $6,000.00 11 (Whereupon, Chairperson called for discussion. Mr. Killgore 12 elaborated on administrative payments for the City of 13 Sebastian per the agreement between the Board and the City 1-4 Council on providing administrative services. 1-5 CHAIRPERSON SNELL: Okay. I'm going to make a 16 motion to approve all those payments. Any second? 17 BOARD MEMBER WILLIAMSON: I'll second that. 18 CHAIRPERSON SNELL: All: in falivor? Aye. 19 (ALL MEMBERS ANSWERED AYE.) 20 CHAIRPERSON SNELL: All against? 21 (NO RESPONSE.) 22 NEW BUSINESS 23 A. Resolution Designating a Records Management Liaison 24 Officer And Adopting a Records Retention Schedule. 25 (Whereu:poin, Mr. Kilgore discussed Ms. Bonni Jensen taking 5 1 over as Pension Board attorney. A signature from the Chair 2 was needed on the documents.) 3 CHAIRPERSON SWELL: So I will go ahead and make 4 a motion on this resolution. I will go ahead and make 5 that motion. Any seconds? 6 ADMINISTRATOR KILLGORE: I was going to say, 7 this will be Resolution 18-01. 8 CHAIRPERSON SNELL: Anybody want to look at it 9 before we vote on it? 10 BOARD MEMBER VICARS: No. 11 BOARD MEMBER WILLIAMSON: I read it. I'll 12 second that, 13 CHAIRPERSON SNELL: All in favor? Aye. 14 (ALL MEMBERS ANSWERED AYE.) 15 CHAIRPERSON SNELL- All against? 16 (NO RESPONSE.) 17 ADMINISTRATOR KILLGORE: Jason is the secretary, 18 needs to sign it. (H'ands documents.) 19 B. Addendum To Foster & Foster Actuarial Services Agreement 20 (Whereupon, Ms. Jensen stated her copy was signed. 21 Chairperson Snell asked' if all motion was needed. 22 Administrator Killgore said, yes. Mr. Lozen explained the 23 new requirements for reporting.) 24 CHAIRPERSON SNELL: All right. Anything else 25 you want to add to it? Motion for approval on that VERO BEACH COURT REPORTERS 77'2-231-2231 I I payment? I will go ahead and make that motion. Any 2 seconds? 3 BOARD MEMBER WILLIAMSON: I'll second it. 4 CHAIRPERSON SNELL: All in favor? Aye. 5 (ALL MEMBERS ANSWERED AYE.) 6 CHAIRPERSON SNELL: All against? -7 (NO RESPONSE.) 8 C. Presentation of Actuarial Valuation as of October 1, 9 2017. 10 (Whereupon, Mr. Lozen gave his presentation. Board Member 2.1 Williamson asked questions during the presentation. 12 Administrator Killgore asked questions during the 13 presentation, Board Member Vicars asked questions during the 14 presentation. Board member Gillette asked questions during 15 the presentation. Ms. Jensen gave explanations.) 16 CHAIRPERSON SNELL: Okay. Make a motion to 17 approve the actuary report. Any second? 18 BOARD MEMBER GILLETTE: Second. 19 BOARD MEMBER WILLIAMSON: I'll second it -- Oh, 20 Jason did. 21 CHAIRPERSON SNELL: All in favor? Aye. 22 (ALL MEMBERS ANSWERED AYE.) 23 CHAIRPERSON SNELL: All against? 24 (NO RESPONSE.) 25 D. Consideration of Selecting a New Chairperson. VERO BEACH COURT REPORTERS 772-231-2231 7 1 (Whereupon, Chairperson Snell presented his end date as a 2 board member and called for nominations for chairperson. A 3 discussion was had among members and Ms. Jensen.) 4 CHAIRPERSON SNELL: All right. So I nominate 5 Jason. Any seconds? 6 BOARD MEMBER WILLIAMSON: I second that. 7 CHAIRPERSON SNELL: All in favor? Aye. 8 (ALL MEMBERS ANSWERED AYE.) 9 (Whereupon, Ms. Jensen announced that the board now needs a 1-0 new secretary. A discussion was had among members.) 11 BOARD MEMBER WILLIAMSON: I nominate Chris as 12 our new... 13 CHAIRPERSON SNELL: I'll second that. All in 14 favor? Aye. 15 (ALL MEMBERS ANSWERED AYE.) 16 E. Approval of Nomination/Election Procedures for Police 17 Officer Vacancy. 18 (Whier,eupon, Administrator Killgore presented that he created 19 the Nomination/Election procedure. Ms. Jensen stated someone 20 is needed by March. Questions were asked by Board Member 21 Wil�liamson. Information about e-mailing the ballot and using 22 a ballot box were discussed. Ms Jensen gave her suggestion 23 of not e-miailing the ballots out but leaving them by the 24 ballot box to be filled out and placed inside the box. 25 Administrator Killgore stated code requires procedures to be VERO BEACH COURT REPORTERS 772-231-2231 1 adopted. Ms. Jensen stated there is a policy and procedure 2 book that was put together by Christiansen & Dehner and read 3 aloud the policy pertaining to Item E. Board agreed to 4 follow the policy and procedures in place.) 5 F. Legal Updates 6 (Whereupon, Ms. Jensen gave the update on Senate Bill 980 7 that states the new things to be included in the Actuary 8 Evaluation, a bill making PTSD disability under worker's 9 compensation, the hiearing process timelines as per the 10 policies and procedures, and reminder of the FPPTA meeting at 11 the end of January.) 12 G. Board member Reports and Comments 13 (Whereupon, Chairperson Snell asked for any comments or 14 questions for the board' attorney. No response from members 15 was given.) 16 H. Next Quarterly Meeting: March 20, 2018 17 (Whereupon, Chairperson Snell announced the next meeting date 18 and then adjourned this Police Pension Board Meeting.,) 19 (Thereupon, at 11:45 a.m., the above -entitled 20 matter was concluded.) 21 22 23 24 25 ER BEACH BEACH COURT REPORTERS 772-231-2231 8 1. STATE OF FLORIDA : SS 2 COUNTY OF INDIAN RIVER 3 4 5 6 9 10 2.1 12 13 14 I W 17 18 19 20 21 2'2 23 24 25 I, GREGORY CAMPBELL, Notary Public of the State of Florida at large, certify that I was authorized to and did stenographically report the foregoinig proceedings and that the transcript is an excerpt of my stenographic notes® DATED this 16TH day of FEBRUARY, 201811." CREC�RY /f- .ELL, WLLL' COURT 1:rUK 1 rK Commission Ao. EE 907742 My Commission Expires 8/6/2019 VERO BEACFl COURT REPORTERS 772-231-2231, 9 1 r it liq VERO BEACH COURT REPORTERS 772-231-2231 5:19,19 K motion 2: 10, 11 Police 1: 1 7:16 four 3:8 KENNETH 1: 11 2:13,23 3:18 8:18 FPPTA 8: 10 Killgore 1: 11 4:16,5:4,5,21 policies 8: 10 G 2:18,22 3:6 5:25 6:1,16 po I i cy 8: 1,3,4 G 8:12 4:11125 5:6f 17 motions 3:16 present1:14 Gillette 1:9 6:,14 5:22 6:12 7:18 7:25 N 2:6 presentation 6:18 needed 5:2,21 6:8,10,11,13 given 3 : 8 8: 15 L 7:20 6:14J5 go 3:13 5:3,4 large 9: 10 needs 5:18 7:9 presented 7': 1 6:1 leaving 7:23 new 4:22 5:23 7:18 going 4:15 5:6 Legal 8:5 6:25 7:10,12 procedure 7:19 GREGORY9:9 Liaison 4:23 8:7 8:1 9:16 to 5:8 nominate 7. 4, 11 procedures 7:16 H Lozen 1: 16 5:22 Nomination/... 7:25 8.4,10 HI 1: 16 8:16 6:10 7:16f19 nominations 7:2 proceedings HALL 1: 5 M N'ota ry 9: 9 9:11 process 8:9 Hands 5:18, hearing 8:9 MAIN 1:5 notes 9:12 p,rovided 2:21 Highland 4:1,3 making 8:8 November 4:5 proSri di4:14 HR 1: 12 Management ___ 0 PTSD 8.8 4:1,3,23 Public 9:9 I 'MANAGER 1: 12 Oct- Dec 4: 10 put8:2 included 8:7 March 7.20 8:16 October 6:8 October-Dece... INDIAN 9:2 matter 8:20 4:3 0 - Information meeting 1: 1 2:3 Quarterl y 2:9 7:21 2:8,9 3:15,16 Officer 4:24 3:16 8:16 inside 7:24 8:10,16,17,18 7:17 questions, 2:20 Item 3:15,15 9:6 member 1: 9,10 Oh 6:19 Okay 3:13 4:15 2:21 6:11F12 6:13,14 7 - 20 8:3 1:10 2:11,20 6:16 8:14 3:1118 4:17 OLD 3:24 January 1:3 5:10111 6.3,10 order 2:2,4 R 8:11 6:13f 14118,19 P read 5:11 8:2 as 1: 9 5: 17 7:2,6,11,20 PAUL 1: 10 Records 4:23,24 6:'20 7-5 Jensen1:12 8:12 MEMBER(S) 2:5 payment 6: 1 redo 3:14 reminder 8: 10 2:22 4:25 5:20 members 2:6,15 payments 3:25 report 6:17 9:11 6:15 7.3,9,19 3:3,21 4:19 4:12116 reporter 2.19 7:22 8:1,6 5:14 6:5,22 Pension 1: 1 5: 1 9:16 JOHN 1:9 7:3,8f 10, 15 8:18 Reporters 4:7 July-Septemb�er 8:14 pertaining 8:3 place 8:4 reporting 5:23 4:1 minute 2:25 Reports 8.12 minutes 2:7,19 placed 7:24 reqwire ments 3:14 Plan 4:9 5:23 VERO BEACH COURT REPORTERS 772,-231-2231 I requires 7:25 resigned 3:7 resolution 4: 23 7:25 8:1 2,380.00 4:6 20 8:16 2017 2:8,9 3:15 :16 6:9 2018 1:3 8:16 9:13 298.92 4:5 K VERO BEACH OURREPORTERS 9 9:159 907742 9 980 CITT OF SEBASTIAN POLICE PEN!SION'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 Vote to Excuse Absent Board Member(s) -- None. Mr. Killgore stated that the,re 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. 9100980�= A. Next Quarterly Meeting: March 20, 2018. 5AdJourn Chairman Gillette called for any further business. Hearing none, he 0 Jason Gillette ig ITY OF SEBASTIAN POLICE PENSION BOARD P ,MINUTES OF S ECIAL MEETIN FEBRUARY 9, 2018 1 . Call to Order —Chairman Jason Gillette called the meeting to order at 10:00 a.m. Present Board Members Jason Gillette Christine Vicars Paul Williamson Randy Moyer Tim Wood Also Present Bonni Jensen, Klau:sner, Kaufman, Jensen & Levinson, Attorney for Board of Trustees Joseph Scarpa, Luks, Santoniello, Petrillo & Jones, Attorney for Petitioner Ken Johnson;, Petitioner Patti Hensley, Atlantic Reporting, Court Reporter Ken Kililgore, Plan Administrator Janet Graham, Technical Writer Ms. Jensen stated that this is the initial hearing on Mr. Johnson's application for disability. She stated that only documentary evidence in the record can be considered at this initial hearing. She stated that Mr. Johnson is represented by Mr. Scarpa who is present at this meeting, and' upon review the Board will enter an order setting forth their findings. She reviewed the guidelines to be used in making their decision. She stated Mr. Joh!nson, was terminated on June 10 and made his application on June 20, 2016 She described the independent medical examination (IME) done by the Department on or about May 4, 2016. At that examination the physician found that Mr. Johnson was unable to perform his functions but also that, just because he is found not fit for unrestricted duties as a police officer now does not mean 'that it is permanent. She stated the next IME was performed for the Board of Trustees in August 2016. At that time the physician had concluded that Mr. Johnson was not totally disabled from performing the, functions of a police officer and believed that the injury to his right shoulder was causally related to his duties as a police officer and would not place any POLICE 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 ad'd'itional 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 thus 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 currenit information. A motion to have another functional capacity examination was made by M'r. 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. Adjourn: Chairman Gillette called for any further business; hearing none, he adjourned the meeting at 11:13 a.m. AS E CITY OF SEBASTIAN POLICE PENSION BOARD W100OW-1pri a 71"17 E -MIJI G MARCH 20,2018 I!. Call To Order — Acting Chairman Paul Williamson called the meeting to order at 10:06 a.m, 2. Roll Call Present Board Members Paul Williamson Randy Moyer Christine Vicars (delayed arrival) Absent Tim Wood -- ey-Qws-r-� Also Present Bonni Jensen, Klausner, Kaufman, Jensen & Levinson, Attorney for Board of Trustees Steve Stack, Highland Capital Management, Consultant Charlie MUlfinger, Morgan Stanley (reporting by cell phone) Ken Killgore, Plan Administrator Janet Graham, Technical Writer 3. Vote to Excuse Absent Board Member(s) Mr. Killgore stated that Jason Gillette has been excused and Tim Wood' is on vacation, although he had not notified the Board that he would be absent. Motion to excuse the ?.bsences of Tim Wood and Jason Gillette: was made by Mr. Moyer and seconded by Ms, Vicars. Motion carried unanimously by voice vote, A. Special Meeting of February 9, 2018 to certify election results, B. Special Meeting, of February 9, 2013 on Ken Johnson disability. POLICE PENSION BOARD PAGE 2 MINUTES OF REGULAR MEETING MARCH 20,2018 Mr. Williamson stated the 51r' paragraph on page 3 should read that the motion was made by Tim Wood, seconded by Ms. Vicars. Motion passed with a vote of three in favor, being Mr. Gillette, Mr. Wood, and Ms. Vicars, and two, opposed being Mr, Moyer and Mr. Williamson. Mr. Williamson also questioned in the 4"' paragraph on page 3 where it stated a motion was made by Mr. WiMarnson, seconded by Ms. Vicars to have another functional capacity evaluation. Ms. Vicars stated she recalls that Mr. Gillette made the motion and Ms, Vicars seconded it. A moflon was made by Ms. Vicars and seconded' by Mr. Moyer to table acceptance of the Minutes until the items in question, can be verified. Motion carried unanimously by voice vote. Mr. Killgore stated he omitted from this Agenda the Minutes of the January 16 1h meeting which were done by the court reporting service. A motion was made by Ms. Vicars and seconded by Mr. Williamson to table acceptance of those Minutes until the next meeting so they can be reviewed. Motion was carried unanimously by voice vote. RNEEKINFORTIM a.. Highland Capital (1�'t quarter 2018) $ 13,48112 b. Fiera Capital (4"' quarter 2017) 1,405.79 c. Boston Partners (4 1h quarter 2017) $ 1,777.77 d. Center Coast Capital Advisors, LP (4 t quarter 2017) 80537 e. Renaissance Investment Mgt, (4 th quarter 2017) 1,728,51 f. Graystone Consulting 3,375.00 g. Foster & Foster 1,314,00 h. Salenn Trust (4 ffi quarter 2017) 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, Inc. 48.00 1. City of Sebastian for Janet Graham, Technical Writer 64.00 m. City of Sebastian (15t quarter 2013) 6,000.00 Mr. Kilgore reviewed the Calendar of Activities and Scope of Services — SEE ATTACHED, POLICE PENSION BOARD PAGE 3 MINUTES OF REGULAR MEETING MARCH 20,20,18 A. Report on Florida Retirement System Police and Fire Annual Report Mr. Killgore reviewed the report — SEE ATTACHED, Mr. Kiligore reviewed the invoices -- SEE ATTACHED, Motion was made by Mr, Moyer and seconded by Mr. Williamson to pay the invoices, Motion passed unanimously by voice vote. Mr. Killg,ore reviewed the Operating Expenses report -- SEE ATTACHED, He stated that at the next meeting he would bring any budget amendments to the Board, C. Report from investment Manager Mr. Stack reviewed recent activity and trends in the market and highlighted the charts and reports that he provided, He discussed the history of the investments and how they were affected by the market. He stated the fund is in a good pace with regard to the present market environment, Mr. Mulfinger gave his report by cell phone while he was on the road, as he was delayed by traffic. Fie opined that the economy is now doing very well and investments are reflected by that. Stocks are strong. Bonds have not performed as well. The fourth quarter of 2017 had very good returns. The income for the 4tr' quarter was $529,786,00. At the end of the quarter, we were above our target but within our range from our policy standpoint. He explained that there are no changes needed to the policy. Ms. Jensen asked for clarification on who makes changes to the benchmark. Mr. Mulfinger explained that it is up to the Manager to suggest changes and later clarified that the benchmarks are established in the investment policy, which is adopted by the Pension Board. Ms. Vicars requested copies of the reports on which Mr. Muffinger was reporting. Mr. Killgore stated he would provide copies to everyone who wished to receive one, POLICE PENSION BOARD PAGE 4 MINUTES OF REGULAR MEETING MARCH 20,2018 E. Legal Updates MEMO Ms. Jensen referred to two memos in, the agenda packet that she had written — SEE ATTACHED — regarding PTSID bill (SB 376) and federal, state and local death benefits. She explained the present law and what is required for a public safety, officer to claim PTSD. Ms. Vicars asked, when an officer is getting workman's compensation and pension benefits are determined, are the workman's compensation payments included as part of that calculation. Ms. Jensen said there is a provision for both of them to be included, She also reviewed the memo that she provided — SEE ATTACHED — regarding the death benefits through that employment. She described that there are three tiers for payment of death benefits and described what is necessary for each tier to be applicable, G. Administrative Assistant Reports and Comments — None. H. Public Input -- None. Next Quarterly Meeting -- Uncertain 7. Adiourn -- Mr. Williamson called for any further business. Hearing none, motion to, adjourn was made by Mr, Moyer and seconded by Christine Vicars. Motion carried unanimously by voice vote and was adjourned at 11:38 a.m. M Jason Gillette 11 ITY OF SEBASTIAN POLICE PENSION BOARD MIN• APRIL 17, 2018 1. Call to Order — Chairman Jason Gillette called' the meeting to order at 10:04 a.m. Present Jason Gillette Christine Vicars Paul Williamson Randy Moyer Tim Wood Also Present Bonni Jensen, Klausner, Kaufman, Jensen & Levinson, Attorney for Board of Trustees Joseph Scarpa, Luks, San:toniello, Petrillo & Jones, Attorney for Petitioner Ken Johnson, Petitioner Ken Killgore, Plan Administrator Cynthia Watson, Human Resources Manager Emily Dowd, Indian River Court Reporting Janet Graham, Tech n ica I'Writer Ms. Jensen stated this meeting is in followup of the initial meeting in the disability determination process. At the earlier meeting, the Board had determined that Mr. Johnson should be sent for a followup physical examination. Mr. Johnson completed the requested followup examination by Dr. MacDonald' of Melbourne, who: had performed the previous IME. Through Dr. MacDonald, a functional capacity examination was scheduled and performed. Dr. MacDonald in his report describes the position of police officer as a medium-dem:and position and that Mr. Johnson can meet those requirements, but that Dr. MacDonald was concerned about the standing and walking requirements of the position, where he was limited by pain in the right forearm, It was Dr. MacDonald's medical opinion: that Mr. Johnson will never be able to return to his duties as a police officer without restrictions, he would be able to return to other police d'uties such as detective work, etc. and that Mr. Johnson was supportive of his opinion at this time. POLICE PENSION BOARD MiNUTES OF SPECIAL MEETING APRIL 17,201,? Im disability pension. Motion passed with a vote of four in favor, being M'r. Gillette, Ms. Vicars, Mr. Moyer, and Mr. Wood, and one opposed, being Mr. Williamson, Ms. Jensen explained that the ordinance provides that the disability benefit is payable as of the first of the month following the determination of entitlement. Today being April 7 th , May 'I't would be the date when the first payment is due. She further explained that there is a proration process for purposes of a disability benefit, and her office would put together an order granting the disability. Mr. Gillette stated that the next regular quarterly meeting would be June 26, 2018, ME= 4. Items for Next Agenda. 5. Adiourn Chairman Gillette called for any further business; hearing none, he adjourned the meeting at 10:25 a.m. CA Jason Gillette ig lausner, Kauftnan, Jensen A Partnership of Professional Associations Attorneys At Law 7080 N.W. 4th Street Plantation, Florida. 33317 Tel, (954) 916-1202 wv w,robertdkiaosner.com Fax (954) 916-1232 Tax 1.D.: 454083,636 SEBASTIAN POLICE OFFICERS" RETI E IENT SYSTEM April 30, 201 Attn: KEN KILLOO)RE Bill # 21603 1225 MAIN STREET SEBASTIAN, FL 32956 For Legal Services Rendered Through 04/30/18 CLIENT., SEBASTIAN POLICE OFFICERS' RETIREMENT SYSTEM :170042 MATTER: SEBASTIAN POLICE OFFICERS' RETIREMENT SYSTEM :170042 Date Attorney Description Hours Amount 04/12/18 PARA PREPARATION OF MEETING 0.301 37.50 MATERIALS FOR UPCOMING ING EETI G. 04/17/16 BSJ TRAVEL TO AND FROM MEETING 3.00 637.50 04/1711 S BSJ PREPARE FOR AND ATTEND MEETING 1.50 637.50 04/19118 AI P REVIEW MEDICAL RECORDS & 1 A 0 467.50 DISABILITY APPLICATION, DRAFT FILIAL ORDER GRANTING A SERVICE CONNECTED DISABILITY BENEFIT 04/23/18 BSJ REVIEWAND REVISE ORDER ON 0.70 297,50 DISABILITY FOR K. JOH SO) ; REVIEW PENS'IO N PLAN DOCUMENT 04123/18 BSJ DRAFT MEMO REGARDING FORD' 1 0.10 42.50 FILING; REVIEW 2017 FORM 1 04/23/18 AKP REVISIONS TO JO HNSON FINAL ORDER 0.50 212.50 Total for Services 7. ^2,332.50 CURRENT BILL TOTAL AMOUNT 2,33 .50 Past Due Balance 9,16g7�q.g38 AMOUNTDUE $1�1,49'7'.T3 ames er, Kaufman, Jensen & Levinson A Partnership of Professional Associations Attorneys At Law 7080 N.W. 4t➢r Street Plantation, Florida 33317 Tel. (954) 916-1202 Fax (954)9➢6-1'232 SEBASTIAN "• , RETIREMENT Aftn: KEN O* 1225 MAIN STREET ■ 1 y Yrt � � �. rr Yk 1' Attorney „io Description . REF RECORDS :. y.. MANAGEMENT LIAISON OFFIC RESOLUTION DRAFT PTSD 03 AM i, ' y PREPARATIONOF MEETING MYy : FOR MATERIALS MMFCOMING MEETING. Yr 8 BSJ YYr :. . a r u► PREPARE MEETING r M ATTEND MEETING 03/20/18 BSJ TRAVEL TO AND FROM MEETING 03126/18 PARA REVIEW OF MEDICAL REPORT FROM R MICHAEL y.' pY D r ". REGARDING AND .. : YL yWY Ml . �Y ! 1 WY n► 1/ R y.: ". �'. l �y R 3 ■ • AY• •iPO D CORRESPONDENCE REGARDING DR. MON ICHAEL ,... 0 3. O BSJ ` i RESPOND TO EMAIL .O f R E REGARDING FROM NEW DATE FOR HEARING; DRAFT NOTICE OF HEARING; EMAIL TO JOE SCARPA, ATTORNEY FOR KEN JOHNSO,' www.robertdkiausner.com Tax ➢.17.: 454083636 . 1 d 004 :170042 Hours Amount 0.10 42.0 0�.10 42.50 0.30 37.50 0 297.50 1.70 722.50 2.rr ���y .. ... ! r... MENEWI 0.50 212.50 0.50 212.50 0.70 297.50 31.I:1111111111 Professional Fees Continued..,. Date Attorney Description Total for Services Costs Date Description 02/23/18 FEDEX TO MICHAEL J'. MacDONALD, M.D. 03/26/18 MISCELLANEOUS I FEE RE JOHNSON Total Costs CURRENT BILL TOTAL AMOUNT DUE Past Due Balance AMOUNTDUE Hours Amount 7.80 $2,740.OD E Amount 38.72 2,000.00 0WAY. 4,778.72 4,388.66 Partnership of Professional Associations Attorneys At Law 7080 N, W, 4th Street Plantation, Florida 33317 el.(954)916-1202 Fax (954) 916-1232 6A o "' X 1225 MAIN STREET Attorney Date Description, ""E WITH KENNETH JOHNSON DISABILITY y MATERIALS FR UPCOMING HEARING 0208 8 BSJ PREPARE w FOR DISABILITY HEARING; REVIEW BOARD FROM D w RUST, TELEPHONE CALL WITH JOSEPH 1 r 1 PREPARE .r ti. w RECORDS TO TRANSMIT .± ATTORNEY 02/08118 BSJ REVIEW MEDICALRECORDS FRO E O*w.,. HARTFORD, DR. SANZ, AND IMEs 02/09/18 BSJ TRAVEL TO AND FROM MEETING 0, r# w BSJ ATTEND MEETING 02/21/18 BSJ EMAILx s. r W REGARDING CURRENT DESCRIPTION r. H REQUEST DESCRIPTION ROM w i rY IVER COUNTY; REVIEW 02/22/18 BSJ PREPARE MEDICAL RECORDS FOR DR. MACDONALD AND FCE REVIEW; CORRESPONDENCE Jar ., REGARDING MEDICALPP www.robertdkiausner.com "Tax l.D.: 45-4083636 :170042 :170042 Hours, Amount 0.50 212.50 0,40 50.00 1.00 425.00 www.robertdkiausner.com "Tax l.D.: 45-4083636 :170042 :170042 Hours, Amount 0.50 212.50 0,40 50.00 1.00 425.00 3.00 •, 1.50 637.50 jrjjjj'E4VAMj : AI " Al 0 ■ ■ ■ W ■ *. W99REMENEff■a-� Professional Fees Continu; k,escription w� � .-r •r• r a ■ Y i UPDATED r FCE FOR JOHNSON APPOINTMENT w ■ ;� _ y #w ■ FROM DR. MACDONALD REGARDING R. JOHNSON APPOINTMENT BEING MOVED. REVIEWAND RESPOND :...■ r TO EMAIL FROM . ■ a - - a. ; FOLLOW O, APPOINTMENT EMAIL i . .. ■ y: CONFIRMING KENNETHJOHNSONIME r ■wO► MIZE, I for Services, Date Description 01�/25/18 MISCELLANEOUS PHOTOCOPIES P MEDICAL RECORD 02/05/18 P'EQEX TO KENNETH KILLGOURE PHOTOCOPIES thru 02/28/18 Total Costs CURRENT BILL TOTAL AMOUNT DUE Past Due alance AMOUNT DUE 7 ours 0.40 170,1 r wto 4,,388.66 44,207.50 $8, 596.16 May 2, 2018 000025 MSHS93A1 000000 745 070 CITY CFSEBAS"I IAN POLICE ATTN: KENNETH KILLGORE �1225 MAIN ST. SEBA'-:',]'IAN FL 32958 Graysto-ne Consulting - A business of Morgan Stanley Invoice Number: 10129918122 Graystone Consulting Tampa, FL Financial Advisor wwwxioIganstarley.corn IMPORTANT NOTICE INVESTMENT 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 investinent advisory fee(s) clue. ACCOUNT WENT NAME 74 5--038962 CITY OF SEBASTIAN POLICE Total Fee: Prior Balance: Net Amount; For additional details please see Invoice Detail and Rernittance Instructions on pages to follow. hqroom'116 411J S(WiCC.s oJIfcrc,f ltjroqjb A,Iorjpi Staiilry SwO� Raiiiry LL(,. &1cmNy SWC, Gy'lYsInic ( OdImNosj is a Nisiwss 04 MotJ,m Swnlv'y TOTAL FEE AMOUNT $3,,375,00 $3,375.00 $0.00 $3,375�00 I of 5 000029 MSHF�IA 1 OOOn74 11� 'TO Mo� k �b B Account: 745-038962 Biking Period Nwi"iber of Days Hard Dollar Fee Fee Amount Graystone Consulting - A business of Morgan Stanley invoice Number: 10129918122 0 1/0 1/2018 - 03/31/2018 90 $13,500.00 $3,375.00 3 (,, f 5 V,Mito O(kn.,I lbrou 1) Moipm St,mry Smidb Barm), LL(-'. Alrnibcr SIPC. CoilsfINIIj is ,a ImOlcs3 OJ 11w 01-yan St,mry. 000025 M�SHS93A 1 000075 raystone CcoxSUIting-, A business of Morgan Stanley Invoice Number: 10129918122 Payment 16/1/2018 Please return payment Using this page and include it with your check in the enclosed business reply envelope. Please note that cash payments cannot be accepted — wire and check information are below. If you have any questions, please contact your Financial Advisor. Account TotaIi Fee Amount 745-038962 $3,375.00 Total Fee: $3,375.00 Prior Balance: $0.00 Net Amount; $3,375.00 By Wire Bank Name: Citibank, New York ABA: 021000089 For Benefit Of Morgan Stanley & Co. Incorporated Benefi6ary Account: 40611172 For Further Credit to: 980000163 Ref: Invoice 0101299 By Check Morgan Stanley Global! Banking Operations ATTN: Advisory Fee Billing 1300 Thames Street Wharf, 4th Roor Baltimore, MD 21231-9907 Ret: Invoice 10129918122 5 of 5 mO semices offm'l lbrocigij Morgiw Similey Sn?ilij Barney LLC A"lrvi1xr SIR- Graystow ConstiNng is a N60%ss of A9oipn Sl,viky 000025 MISHS93AI 000076 lausner, Kauftnan, Jensen & Levinson A Partnership of Professional Associations Attomeys At Law 7090 N.T. 4th Street Plantation, Florida 33317 Tel, (954) 916-1202 www.klausnerkaufinan.,com Fax (954) 916-1232 Tax I.D,,* 454083636 SE ASTIR POLICE OFFICERS' RETIREMENT SYSTEM May 31, 20�18 Attn: KEN KILL ORE Bill # 21807 1225 MAIN STREET SEBASTIAN, FL 32958 CLIENT: SEBASTIAN POLICE OFFICERS'RETIREMENT SYSTEM :170042 MATTER* SEBASTIAN POLICE OFFICERS' RETIREMENT SYSTEM :170042 Date Attorney Description Hours Amount 05/01/18 BSJ TELEPHONE CALL WITH CINDY 0,10 42.50 WATSON 05102118 BSJ NOTICE FROM SALE M TRUST 0.10 42.50 REGARDING FEES 051'02JI 8 BSJ FINALIZE ORDER ON KENNETH O,30 127.50 JOHNSON DISABILITY 05/03/18 AKP FINALIZE JOHNSON DISABILITY ORDER 0.20 85.00 & EMAIL TO CYNTHIAAND KEN FOR EXECUTION/DISTRIBUTION 05104/18 BSj TELEPHONE CALL WITH JOE SCARPA 0.20 85.00 05/07/18 BSj ATELEPHONE CALLS WITH KEN 0.20 85.00 KILLGORE; EMAIL TO JOE SCARPA Total for Services 11.10 $467.50 CURRENT BILL TOTAL, AMOUNT DUE 467.50 J Icalth First Medical GI'0Up Entity 2 "e: I Occ Med Invoice PaI PO 561530 Invoice No. Date Rockled-e, FI, 32956 Telephone (32 l)434-8878 00075604 -00 05/21/2018 Bill To: City Of Sebastian Amount Due: S1,344.00 1225 Mairi Street Federal 111). 46-1243081 Sebastian, FL 32958 Account: 002962 Terms: Net due in 30 days Service Date: Medical Activity Quantity Unit Price Not Atiaottot SSN:048-56-0618 Kenneth Johnson Clinic Code: 0001 04/20/2018 Functional Capacity Assessnicilt 1.00 $1,344,00 $1,344,00 sub -Total for Kenneti):'Johnson $1,344.00 TOTAL DUE: $1,344.00 TECHNICAL WRITER 97Overlook Drive Sebastian, FL 32976 Jeanette Williams, City Clerk City of Sebastian 1.225 Main 'Street Sebastian, FL 32958 Pali .e Pension Board 4-17-2018 Natural Resources Board 5-1-20118 Planning and Zoning Commission 5-3--2018 Construction Board 5-15-2018 Total ..__.._.._.........� .. I�.�'� I �uµd,��.-e��,yw.:tl "i..I:��p..✓T Nr 3 pages $48,00 6 pages $96.00 10 pages 160,00 4 page's 64.00 q ., 0, #: PRO-j - T W.. DEPT. h t ,.J., + if �' JANET M. GRAHAM TECHNICAL WRITER pity of Sebastian ATTW Jeannette Williams, City, Clerk 1225 Main Street Sebastian, FL 32958 • Planning and Zoning Board, 2-15-2018 2, Parks and Recreation 2-26-2018 3. Budget Advisory Board 3-5-2018 4Police Pension Board — 3-20-2018 fim HORR194 nl0w; Planning & Zoning,, Cry-' 'IS DO 5A '1 7 'SL I BUdget Review Advisory 8 $12&00 8 128,00 6 96.00 4 64.00 Parks & Rec Advisory D 5-7 jj Jm 74:, Police Pension .. ....... . 1.,;11) U INI i4, L JANUARY: No Board activity, FEBRUARY: No Board activity MARCH: 15'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: m 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: 4 th Quarter Board Meeting: • Review Calendar of Board Activities. ® Consider changes to Operating Rules (if needed), • Report on Actual Operabng 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 CITY OF SEBASTIAN, FLORIDA POLICE PENSION D - 2017/2018 BUDGET Reportedt Police Pension Board june 26, 2018 Amended Initial Historical Annual Operating Expenses Thru June Z6, 2018 2017/2018 201712018 2017/Z018 To Date 2016/2017 Z015j2016 2014/2015 2013/2014 Annual Operating Expenses Total Total 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total Total Total Total Total Budge Budget 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 Boston Parners Fiera Capital (APEX) Renaissance Center Coast (Brookfield) Intercontinental Performance Manager- Graystone Morgan Stanley - Graystone Consulting Salem Trust Company 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) Functional Capacity Assessment - Johnson Travel Sub -total Administrative Expense Total Operating Expenses 70,000 $ 60,000 $ 28,939.99 $ 13,483.12 $ 12,509.97 7,000 3,500 1,453.65 1,777.77 1,76812 5,500 3,500 1,026,40 1,405.79 1,466.85 7,000 3,500 1,389.13 1,728.51 1,701.77 3,000 3,500 660.28 805.77 68SAS 3,500 3,500 13,500 13,500 3,375.00 3,375.00 3,375.00 35,000 6,500 5,550.00 9,770.00 8,200,00 1,500 Soo 293,95 229.36 540.33 $ 146,000 $ 98,000 $ 42,688.40 $ 32,575.32 $ 30,247.19 $ 20,000 20,000 1,314.00 16,520,00 21,000 20,000 6,886.42 11,967.38 24,000 12,000.00 6,000.00 3,000 3,200 2,585.00 500 500 1,100 - 128.00 722.00 112.00 600 900 598.20 1,350 1,344.00 1,000 1,000 $ 77,550 $ 45,600 $ 3,311.20 $ 20,922.42 $ 35,943.38 $ $ 218,550 $ 143,600 $ 45,999.60 $ 53,497.74 $ 66,190.57 $ $ 54,933.08 4,999.54 3,89104 4, 819.41 2,151,20 10,125.00 23,520.00 1,063.64 $ 105,510.91 17,934.00 18,85180 18,000.00 2,585.00 962.00 598.20 60,479.85 $ 42,35199 $ 64,402.32 $ 58,710.23 13,500.00 13, 500.00 16,875.00 15,000.00 7,245,00 6,265.00 6,615,00 5,295.00 581,24 451.80 141,44 186.69 81,806.09 $ 62,569.79 $ 88,033.76 $ 79,191.92 13,331.00 14,765.00 21,398.00 15,544.00 29,011.01 18,294.60 17,189.16 7,623.64 3,021.05 3,121.05 3,121.05 3,000.00 1,22107 1,646.76 - 695.50 101.90 - $ 58,833.00 45,36106 $ 36,876.1S $ 43,032.18 $ 27,814.40 5 164,343.91 127,16915 $ 99,445.94 $ 131,065.94 $ 107,006.32