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HomeMy WebLinkAbout05-17-2023 MinutesCITY OF SEBASTIAN POLICE PENSION BOARD MINUTES OF SPECIAL MEETING MAY 179 2023 I. Call to Order -- Chairman Wood called the meeting to order at 5:00 p.m. II. Roll Call Present: Board Members: Mr. Puscher Chairman Wood Ms. Ring Not Present Detective McDonough -- Excused Mr. Reeves -- Excused Also Present: Bonni Jensen, Klausner, Kaufman, Jensen & Levinson, Attorney for the Board of Trustees Ken Killgore, Plan Administrator James F. Brantley, Attorney for Petitioner (via Zoom) Bonni Spatara Jensen, Attorney for Respondent Paul Andrew Daragjati, Special Counsel for the Pension Board (via Zoom) Barbara Brooke -Reese, MIS Manager Janet Graham, Technical Writer III. Vote to Excuse Absent Board Members A motion to excuse Detective McDonough and Mr. Reeves was made by Mr. Puscher, seconded by Chairman Wood, and approved unanimously via voice vote. IV. Consideration of the Final Order on the Grimmich Forfeiture Process Ms. Jensen stated that everyone should have a copy of the Order by the Administrative Law Judge. She reviewed that the recommendation of the Administrative Law Judge was to determine that William Grimmich forfeited all the rights and benefits under the Pension Plan and provided for the return of the contributions that were accumulated as of the time that he was convicted of the specified offenses. She stated that unless anyone has any POLICE PENSION BOARD MINUTES OF SPECIAL MEETING MAY 17, 2023 PAGE 2 questions about the recommended Order, she asked that the attorneys comment if they have anything that they would like to add. Mr. Brantley stated that he has nothing to add, that he understands the recommended Order. Mr. Daragjati commented that he had nothing to add except to say that it is an unfortunate case. He recommended that the Board adopt the recommended Order. Ms. Jensen stated that the parties did have an opportunity to file exceptions, and neither party filed exceptions. We are thus ready for a motion. A motion accepting the recommendation of the Administrative Law Judge based on the findings of fact and conclusions of law and that the Police Pension Board of the City of Sebastian submit the final Order determining that William Grimmich forfeited all rights and benefits of the City of Sebastian Police Pension system except for any accumulated contributions when he was convicted of the specified offenses was made by Mr. Puscher, seconded by Chairman Wood, and approved unanimously via voice vote. Ms. Jensen asked that the Board make a motion that the Board begin the process of distributing accumulated contributions to Ireland Grimmich and her brother. She stated that to her knowledge Jack's mother is not yet a guardian for Jack, and in order for the Pension Board to pay that money she will need to become a guardian through the court. Mr. Puscher asked if there could be a trust created. Ms. Jensen explained that that was not an option. Mr. Brantley stated that he was of the opinion that Ireland was the sole beneficiary. Ms. Jensen stated that Ireland has a brother who is also a contingent beneficiary. However, they did not challenge the Order. Mr. Puscher asked what the options for Jack are. Ms. Jensen said that her firm will let Jack's mother know that she needs to become the guardian for Jack A motion distributing the beneficiaries' accumulated distribution up to when William Grimmich committed the offense was made by Ms. Ring, seconded by Mr. Puscher, and approved unanimously via voice vote. At this time Mr. Brantley and Mr. Daragjati left the meeting. V. Legal Updates -- Klausner, Kaufman, Jensen & Levinson Ms. Jensen stated that there has been a bill passed during the legislative session that will not change how the Pension Board invests its money, but it provides that only pecuniary POLICE PENSION BOARD MINUTES OF SPECIAL MEETING MAY 17, 2023 PAGE 3 factors will be considered when the Pension Board is deciding how to invest its money. It specifically disallows social, political and ideological reasons for investments. She added that there is a requirement that a report has to be filed by December 15'h which has to be comprehensive and detailed, and she suggested the process for that report being filed. There was some discussion by Mr. Puscher and Ms. Jensen on this matter. Ms. Jensen said that she is hoping for some more direction coming down this summer, and her firm will draft a report when there is more information available. Mr. Kiilgore said that the Pension Board will have to amend its investment policy sometime in the future. Ms. Jensen reminded everyone about the report that must be filed by July 1. VI. Plan Administrator Reports -- None VII. Next Scheduled Quarterly Meetina: June 8. 2023 Vill. Adiournment There being no further business, Chairman Wood adjourned the meeting at 5:21 p.m. By: cc� !! L h r' Date: to I23 I23 A