February 1, 2013

This material was filed under
[ Police/Fire Pension Board of Trustees - Meeting Minutes ]
February 1, 2013

TOWN OF I N D I A L A N T I C
Brevard County, Florida 32903
PENSION BOARD OF TRUSTEES – POLICE/FIRE
MINUTES 13-02
February 1, 2013 10:30 a.m.

MEETING OF A PENSION BOARD OF TRUSTEES – POLICE/FIRE MEETING HELD IN THE INDIALANTIC TOWN HALL ON FEBRUARY 1, 2013.

PRESENT:
Gerald Kowalski, Chairman
Sgt. Mike Casey, Secretary
Sgt. Mike Connor, Member
Mike Humphrey, Member
Bruce Bogert, Member
Bonni Jensen, Esq.
Dan Johnson, Bogdahn Group
Jennifer Fortin, Recording Secretary

I. CALL TO ORDER AT 10:30 p.m.
Chairman Kowalski called the meeting to order at 10:30 a.m.

II. ELECTION OF OFFICERS
A. Chairman

Mr. Bogert moved to nominate Mr. Kowalski. Sgt. Casey seconded. Motion carried unanimously.

B. Secretary

Mr. Bogert moved to nominate Sgt. Casey. Mr. Humphrey seconded. Motion carried unanimously.

III. APPROVAL OF MINUTES
A. Minutes 13-01, November 2, 2012

Sgt. Casey moved to approve minutes 13-01 as presented. Chairman Kowalski seconded. Motion carried unanimously.

IV. REPORT FROM THE BOGDAHN GROUP
A. Discussion of the 1st Quarter Performance Report
B. Discussion of further Diversified Fixed income Opportunities
C. Asset Allocation

Mr. Johnson recommended changing from TIPS (Barclays TIPS) to Non-Core Fixed Income (Barclays Multiverse).

Sgt. Casey moved to accept the report as presented. Mr. Humphrey seconded. Motion carried unanimously.

Mr. Bogert moved to accept the changes recommended by Mr. Johnson. Sgt. Casey seconded. Motion carried unanimously.

V. OTHER BUSINESS
A. Approval of invoice #8400 from The Bogdahn Group in the amount of $3,875.00
B. Approval of invoice #71444 from Attorney Jensen in the amount of $717.00
C. Approval of invoice #71486 from Attorney Jensen in the amount of $169.50
D. Approval of invoice #71538 from Attorney Jensen in the amount of $556.35
E. Approval of invoice #1667 from Integrity Fixed Income in the amount of $1,142.77
F. Approval of invoice #276895 from Bowen, Miclette & Britt of FL in the amount of $101.30

Mr. Bogert moved to approve Items A-F for payment. Sgt. Casey seconded. Motion carried unanimously.

G. Approval of membership fee of $600.00 to FPPTA

Mr. Bogert moved to approve for payment. Sgt. Casey seconded. Motion carried unanimously.

H. Refund of contributions to Amberly Williamson in the amount of $10,497.21

Sgt. Casey moved to approve for payment. Mr. Humphrey seconded. Motion carried unanimously.

I. 2013 IRS Mileage Rate – Attorney Jensen

Attorney Jensen noted the 2013 IRS Mileage Rate has increased from .55 cents to .56 ½ cents.

J. Amendment to plan update – Attorney Jensen

Attorney Jensen gave an update on HB1128

K. Application of Service Retirement Benefits – Attorney Jensen

No action taken by the Board.

L. Potential Legislation – Attorney Jensen

Attorney Jensen noted SB458 regarding Pension Reform has been filed

M. Determination of the initial eligibility of the Deferred Retirement Options Plan (DROP)

Fire Chief Macdonald requested clarification on eligibility of the DROP program.

N. FYI – Class Action Information
O. FYI – Pension articles
P. FYI – Bank Statements October 2012-December 2012

Items N-P are for informational purposes only.

Next meeting will be Thursday, April 25, 2013 at 10:30 a.m.

VII. ADJOURMENT
The Board adjourned at 11:30 a.m.

__________________________________
Gerald Kowalski, Chairman

__________________________________
Jennifer M. Fortin, Recording Secretary