October 23, 2014

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[ Police/Fire Pension Board of Trustees - Meeting Minutes ]
October 23, 2014

TOWN OF I N D I A L A N T I C
Brevard County, Florida 32903
PENSION BOARD OF TRUSTEES – POLICE/FIRE
MINUTES 15-01
October 23, 2014 10:30 AM

PRESENT: Gerald Kowalski, Chairman
Sgt. Mike Casey, Secretary
Chief Thomas Flamm, Fire Dept. Member
Bruce Bogert, Member
Dan Johnson, Bogdhan Group
Bonni Jensen, Esq. (telephonically)
Jennifer Small, Recording Secretary

ABSENT: Sgt. Michael Connor, PD Member

1. CALL TO ORDER AT 10:30 AM

Chairman Kowalski called the meeting to order at 10:34 am

2. APPROVAL OF MEETING MINUTES

A. Minutes 14-05, July 24, 2014
B. Minutes 14-06, September 5, 2014

Mr. Bogert moved to approve the minutes. Sgt. Casey seconded. Motion carried unanimously.

3. REPORT FROM DAN JOHNSON, THE BOGDAHN GROUP

A. Acceptance of the 4th Quarter Performance Report

Mr. Johnson presented the performance report for July through September 2014.

Mr. Bogert moved to accept the report. Sgt. Casey seconded. Motion carried unanimously.

B. Pimco Organizational Changes and Strategy Update

Mr. Johnson gave the Board an update on Pimco’s leadership and portfolio management changes.

C. Investment Policy Statement Revision

Mr. Bogert moved to approve the Investment Policy Statement Revision. Chief Flamm seconded. Motion carried unanimously.

4. BRIAN BIZZELL, SALEM TRUST

Mr. Bizzell presented the Board with Salem Trust’s new Annual Administrative Fees.

Mr. Kowalski moved to approve the new fees. Mr. Bogert seconded. Motion carried unanimously.

5. OTHER BUSINESS

A. Approval of a check order from Bank of America for $61.00
B. Approval of invoice #1838 from Integrity Fixed Income Management in the amount of $1368.06
C. Approval of invoice #72622 from Attorney Jensen in the amount of $3383.74
D. Approval of invoice #72584 from Attorney Jensen in the amount of $3135.75
E. Approval of invoice #10811 from The Bogdahn Group in the amount of $375.00
F. Approval of invoice #6417 from Foster & Foster in the amount of $2814.00
G. Bank Statements July-September 2014 – presented for informational purposes only.

Mr. Bogert moved to approve items A, B, C, D, E and F. Sgt. Casey seconded. Motion carried unanimously.

H. Update on Scott Elliott and Ryan Deschenes from Attorney Jensen

The Board suggested to have the League of Cities attorney define Workers Compensation as written in the Town’s code and possibly attend the next meeting. Attorney Jensen said that the League of Cities attorney didn’t feel familiar with the original intent to speak on the matter. Attorney Jensen advised the Board that she has received the report from the first doctor that Mr. Deschenes has been to but no report from the second doctor yet.

I. Leroy Collins Report – Attorney Jensen

Attorney Jensen wanted to see if the Board has been contacted about this report. No one on the Board was contacted.

J. Approval of Assignment and Assumption for Attorney Jensen

Chief Flamm moved to approve the Assignment and Assumption for Attorney Jensen. Sgt. Casey seconded Motion carried unanimously.

6. PUBLIC COMMENT

There were no public comments.

7. ADJOURMENT

Sgt. Casey moved to adjourn the meeting at 11:28 am. Mr. Bogert seconded. Motion carried unanimously.

__________________________________
Gerald Kowalski, Chairman

__________________________________
Jennifer Small, Recording Secretary