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Police and Fire Pension Board Meeting
Pension Board 12/02/09




New Police Department Building,

1837 Fennell Street,

 Wednesday December 2nd, 2009 @ 6:30 p.m.

Please note:  more than one (1) member of the City Council may

be present at this meeting.



I.                  Call to Order:

Chairman Doug Kinson, Chief Doug Ball, Chief Ken Neuhard, Battalion Chief Jeffery Hite, Battalion Chief Chris Phelps, Sgt. Jeff Harris, Sgt. Pete Stephens, Mr. Phillip Senderowitz and Mr. David O’Connor



II.               Approval of Minutes:

a. September 2,2009


III.        Consent Agenda:


                     For Ratification = Warrant# 87-89

                      a. Benefits USA, Inc. ( Sept. 09 monthly administration fee & UPS charges)                               $  1,232.00

                           b. Klausner & Kaufman( Legal services rendered through 8/31/09)                                 $       57.88

                            c. Benefits USA, Inc.(October 2009 monthly administration fees)                                   $ 1,200.00

                            d. Dahab Associates, Inc., (2nd Qtr. 2009 Consulting fees Inv.#2009b dtd. 9/15/09)    $ 4,444.74

                            e. Gabriel Roeder Smith & Co.(Inv.#109409 services through 8/31/09)                          $ 1,262.00

                             f. Klausner & Kaufman (Legal services rendered thru 9/30/09 & 4th Qtr. 2009)         $ 4,936.43

                           g. Benefits USA, Inc., (Dec. 2008 monthly administration fee @ old rate)                     $ 1,000.00

                           h. Benefits USA, Inc., (Aug. 2009 monthly administration fee @ new rate)                  $ 1,200.00

                           i.  Benefits USA, Inc. (Nov. 2009 monthly administration fee @ new rate)                    $ 1,200.00

                           k. Salem Trust Company( Custodian fees 7/1/09-9/30/09 Inv. dtd. 10/14/09)             $  3,113.58

                           l.  Sawgrass Asset Mgmt. (3rd Qtr. 2009 Investment Mgmt. Fees)                                     $ 5,849.00

                          m. FPPTA( Phillip Senderowitz registration FPPTA Conf. 10/4-7/09  )                             $     400.00  

                           n. Gabriel Roeder Smith & Co.(Inv.#109938 services rendered thru 10/31/09)          $ 2,349.00

                           o. FPPTA (2010 Membership Renewal Fee)                                                                          $    600.00



IV.      Money Manager Reports: Quarter ended- 9-30-09

                     a.  Brandywine Report



V.          Consultant Reports:

a. Dahab Associates – Mr. Grant Kalson



VI.      Distributions:

a.    Richard Hamill-               Monthly Pension -$3,399.70- Effective 10/1/09(10YCL)                  

b.   Richard Hamill-               DROP Distribution -$13,818.95- Rollover

c.    Robin Hamlett- Poalillo-Lump Sum Distribution $894.85( Beneficiary John Hamlett)

d.   Stacy Mckenna-                Lump Sum Distribution $894.85(Beneficiary John Hamlett)



         VII.    Unfinished Business:

                      a. Fee Comparison – Bundled Management to existing (Secretary Neuhard)

b. Share Plan Status (Secretary Neuhard)  


VIII.   New Business:

a.        Dayne Krout- Entered DROP- Effective June 1, 2009

b.        Ordinance Revisions to include Actuarial Impact of Allowing Retirees to Change Joint Annuitants/Beneficiaries

c.         Adoption of New Investment Policy

d.        Share Plan Administrative Rule Adoption


IX. Reports:

a.    Attorney

b.    Chairman

c.     Administrator



X.      Adjournment:



Any person who desires to appeal any decision made at this meeting or hearing will need to a record of the proceedings and, for this purpose, may need to ensure that a verbatim record of the proceedings is made which includes testimony and evidence upon which the appeal is to be based.  Persons with disabilities needing assistance to participate in any of the proceedings should contact the City Clerk’s office (407 -539-6219) 48 hours in advance of the meeting.


Archived Agendas and Minutes


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