02-13-20 PBOT - Police Adopted MinutesI�VIIIII��1UT ES
Police Officers' IP'ensRon Board of Trustees
Meeting
Thursday, slay, Febrrauary Ila, 2020 G 6o30 PI`S
Commission C ]amber
Present: William (Bill) Tomson, Chair
Chase Jamison, Member
Tim Anderson, Member
Robert (Bob) Liggero, Member
Ed Peck, Member
Absent:
Also Present: Melissa Burns, Director of Finance
Commission Candace Kelly, Commission Liaison
1.
2.
K�
4.
CAUL TO ORDER
COURTESY OF THE FLOOR TO VISIT®RS
A. Welcome to new board member Edward Peck
APPROVAL Off' MINUTES
A. Approve minutes of the November 14, 2014 regular meeting of the Police Officers'
Pension Board of Trustees.
MOTION: Motion to Approve Minutes from November 14, 2019
Motion: William (Bill) Ton:son
Second: Chase Jamison
William (Bill) Tomson (Moved By)
Chase Jamison (Seconded By)
Tim Anderson
Robert (Bob) Liggero
Ed Peck
Motioir passed S to 0.
A. Recap of Investment Performance
subsequent activity
For
For
For
Fof•
Fof•
foi• the period ended 12/31/2019 and
Police Officers' Pension Board of Trustees
February 13, 2020
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5.
David Wheeler and Timothy Haugaard of Graystone Consulting Tampa presented the
investment activity for quarter ended December 31, 2019. The ending portfolio value is
$129581,451.48
Return Summary
Quarter to Date 10/01/2019-12/31/2019 5.15%
Year to Date 12/31/2018-12/31/2019 19.79%
Performance Since Inception (3/10/2010) 6.78%
Discussion about the recommended changes to asset class allocations took place.
MOTION: Motion to accept recommended changes to asset class allocations.
Motion: Tim Anderson
Second: William (Bill) Tontson
William (Bill) Tontson (Seconded By)
Chase Jamison
Tim Anderson (Moved By)
Robert (Bob) Liggero
Ed Peck
Motion passed S to 0.
B. Expenditures through 12/31/2019
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For
For
For
For
Nonactionable, for discussion and information only.
C. Fund Balance Report through 12/31/2019
Nonactionable, for discussion and information only
DISCUSSION WITH PENSION BOARD ATTORNEY
A. SECURE Act Special Report
Discussed memo sent out regarding the SECURE act and the increase in age for
required distribution. Due to this, the ordinances for the pension boards will need to be
amended.
B. Other items for Discussion
Mentioned notary law has changed to create a remote notafy provision and new
requirements, such as the required changes to the forms.
Discussed Florida Legislative session.
Police Officers' Pension Soard of Trustees
February 13, 2020
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Mentioned the FPPTA School to be held in June in Orlando and discussed the
continuing education requirement.
A. Report from Board Chair Bill Tomson on Commission Presentation
Bill Tomson discussed what he presented to the City Commission, speccally the need
to have additional funding to increase the 78% funding rate.
B. Discussion on Records Management Liaison Officer (RMLO)
Motion to approve Director of Finance to be the RNILO
C. Review of Operating Rules and Procedures
Board will e -snail their changes to plan administrator to be compiled for the next
meeting.
D. Election of Vice -Chair and Secretary
MOTION: Motion to elect Chase Jamison as Vice -Chair and Bob Liggero as Board
Secretary,
Motion: Tim Anderson
Second: William (Bill) Tomson
William (Bill) Tomson (Seconded By)
Tim Anderson (Moved By)
Chase Jamison
Robert (Bob) Liggero
Ed Peck
Motion passed S to 0.
E. Pending Items for next meeting
® Summary Plan Description update
• Funding policy
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For
For
For
Both items will be brought back at the next pension board meeting.
7. ADJOURNMENT
There being no further discussion, Chair Bill Tomson declared the meeting adjourned at 8:18
P61116
Attest:
Police Officers' Pension Board of Trustees
February 13,2020
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turnsI
Administrator
6/4 7w
William Tomson, Chair
Police Officers' Pension Board of Trustees
February 13,2020
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