11-9-23 PBOT Adopted MinutesIf
MINUTES
Police Officers' Pension Board of Trustees
Meeting
Thursday, November 9, 2023 - 6:30 PM
Commission Chamber
Present: Charles "Chase" Jamison, Member
John Miller, Vice Chair
Tim Anderson, Secretary
Absent: Ed Peck,
Robert (Bob) Liggero, Resident Member Selected by Board; Confirmed by
Commission
Also Present: Brittany Percell, Finance Director (FD)
1. CALL TO ORDER
2. COURTESY OF THE FLOOR TO VISITORS
No Visitors
3. REPORTS
A. Expenditure report for the period ended September 30, 2023.
ACTION. Approve Expenditure Report
Motion: Tim Anderson
Second. John Miller
Charles "Chase" Jamison For
John Miller (Seconded By) For
Tim Anderson (Moved By) For
Motion passed 3 to 0.
B. Recap of investment performance for the period ended September 30, 2023.
Update Value Recommendations
ACTION. Update Value Recommendations
Motion: Tim Anderson
Second. John Miller
Charles "Chase" Jamison
For
Police Officers' Pension Board of Trustees
November 9, 2023
Page 1 of 3
John Miller (Seconded By) For
Tim Anderson (Moved By) For
Motion passed 3 to 0.
4. DISCUSSION WITH PENSION BOARD ATTORNEY
A. Authorize Plan Administrator (Brittany Percell) to file FRS Comprehensive
Report on behalf of the Board.
ACTION: FRS Comprehensive Report
Motion: Charles "Chase" Jamison
Second. Tim Anderson
Charles "Chase" Jamison (Moved By) For
John Miller For
Tim Anderson (Seconded By) For
Motion passed 3 to 0.
5. OLD BUSINESS
A. Requested actuarial cost of living adjustment studies
ACTION. Recommendation of Scenario 1: Implement a one-time Cost of Living
Adjustment for current retirees of 1.00% for every full year elapsed since the date of benefit
commencement, and annual Cost of Living Adjustment of 1.00% prospectively for current and
future retirees.
Motion: Tim Anderson
Second. Charles "Chase" Jamison
Charles "Chase" Jamison (Seconded By) For
John Miller For
Tim Anderson (Moved By) For
Motion passed 3 to 0.
6. ADJOURNMENT
There being no further discussion meeting declared adjourned at 7:58 p.m.
Attest:
Police Officers' Pension Board of Trustees
November 9, 2023
Page 2 of 3
7vt�
Robert (Bob) Liggero, Chair
.q,avt,&
rittany Percell, Plan Administrator
Police Officers' Pension Board of Trustees
November 9, 2023
Page 3 of 3