HomeMy WebLinkAboutAgenda Fire Pension 020316THE RESOURCE CENTERS , LLC
4360 Northlake Boulevard, Suite 206 Palm Beach Gardens, FL 33410
Phone (561) 624-3277 Fax (561) 624-3278 WWW .RESOURCE CENTERS .COM
PALM BEACH GARDENS FIREFIGHTERS’
PENSION FUND
Meeting of Wednesday February 3, 2016
Location: City Hall, Council Chambers
Palm Beach Gardens City Hall
10500 North Military Trail
Palm Beach Gardens, FL 33410
Time: 1 PM
AGENDA
1. Call Meeting to Order
2. Public Comments
3. Minutes:
• Regular Meeting Held on November 4, 2015
• Regular Meeting Held on January 11, 2016
4. Investment Manager Report: Agincourt Capital (Brad Coats & Ryon Acey)
5. Investment Monitor Report: The Bogdahn Group (Dan Johnson)
6. Attorney Report: Sugarman & Susskind, P.A. (Pedro Herrera)
• DROP Distribution Policy
7. Administrative Report: Resource Centers (Audrey Ross)
• Disbursements
• Benefit Approvals
• Service Provider Contract Review (Attorney & Investment Consultant)
• Fiduciary Liability Renewal Discussion
• Interim Benefit Election Form
8. Old Business
9. Other Business
10. Next Meeting Previously Scheduled for Monday March 7, 2016 at 1PM
11. Adjourn
PLEASE NOTE:
Should any interested party seek to appeal any decision made by the Board with respect to any matter considered at such meeting or hearing, he will need a
record of the proceedings, and for such purpose he may need to insure that a verbatim record of the proceedings is made, which record includes the testimony
and evidence upon which the appeal is to be based. In accordance with the Americans With Disabilities Act of 1990, persons needing a special accommodation
to participate in this meeting should contact The Resource Centers, LLC no later than four days prior to the meeting.
PALM BEACH GARDENS FIREFIGHTERS’
PENSION FUND
MEETING OF FEBRUARY 3, 2016
RATIFICATION OF BENEFIT PAYMENTS
APPLICATION TO EXIT THE DROP
CATHY MAUSER Date of Birth: 07/20/1956
Date of Hire: 06/11/2001
DROP Entry Date: 12/01/2011
Date of Termination: 01/31/2016
Total Monthly Benefit: $1,784.19
Form Of Benefit: LIFE ANNUITY
Action: ______________________________
Chairman________________________________
Secretary________________________________
Date______2/3/2016______________________
Page 1 of 2
Palm Beach Gardens Fire – Interim Benefit Election Form
PALM BEACH GARDENS FIREFIGHTERS’ PENSION FUND
RETIREMENT/DROP INTERIM BENEFIT ELECTION FORM
NAME:
I hereby elect to participate in the DROP program or I am applying for any form of
retirement effective_________ (DROP/Retirement). This election is made to provide the DROP
or Retirement benefits in the event of my death and prior to me electing my final DROP or
Retirement benefit election option:
______ STANDARD FORM OF ANNUITY : This option provides a monthly payment to me
as long as I live, with 120 monthly payments guaranteed. If I should die before
120 monthly payments have been made, the same amount will continue to be paid
to my beneficiary until a total of 120 monthly payments have been made in all.
___________ STRAIGHT LIFE ONLY ANNUITY : This option provides a monthly payment to me
as long as I live. At the time of my death all monthly payments will cease.
____________ 100% JOINT AND SURVIVOR ANNUITY : This option provides a monthly
payment to me as long as I am living. After my death, my beneficiary, if still living,
will receive monthly payments of the same amount for the rest of their life
_______ 75% JOINT AND SURVIVOR ANNUITY : This option provides a monthly
payment to me as long as I am living. After my death, my beneficiary, if still living,
will receive 75% of my monthly payment for the rest of their life.
_______ 66 2/3% JOINT AND SURVIVOR ANNUITY : This option provides a monthly
payment to me as long as I am living. After my death, my beneficiary, if still living,
will receive 66 2/3% of my monthly payment for the rest of their life.
_______ 50% JOINT AND SURVIVOR ANNUITY : This option provides a monthly
payment to me as long as I am living. After my death, my beneficiary, if still living,
will receive 50% of my monthly payment for the rest of their life.
I understand that only in the event of my death and prior to me electing my final DROP or
retirement benefit, the above selected form of payment applies to me. I understand that I will
sign another final benefit election form once my final DROP/retirement calculations are provided
by the Plan’s Actuary at a later date. Note: this form can be changed at any time prior to signing
the final benefit election form.
Participant's Signature: Date
Page 2 of 2
Palm Beach Gardens Fire – Interim Benefit Election Form
STATE OF:
COUNTY OF:
Before me, the undersigned authority, personally appeared
____________________________________________, who is personally known to me or has
produced as identification and who did / not take an
oath and, after being duly cautioned and sworn, deposes and says that he/she has signed the
foregoing document for the reasons therein contained.
SWORN AND SUBSCRIBED before me this day of ,20
.
NOTARY PUBLIC, State of
Printed Name of Notary:
My Commission expires:
NOTARY STAMP:
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AMENDMENT TO EXHIBIT "A"
OF THE
CONSULTING SERVICES AGREEMENT
between
CITY OF PALM BEACH GARDENS FIREFIGHTERS' RETIREMENT SYSTEM
AND
BOGDAHN CONSULTING, LLC.
EXHIBIT "A"
(EFFECTIVE JULY 1, 2014)
FEESCHEDULE
In consideration of the Consulting Services to be performed as agreed in the foregoing
agreement, the Retirement System shall pay the Consultant an annual retainer fee, to
be billed in equal quarterly installments, in arrears. The annual fee includes all
expenses incurred by the Consultant in performance of its services, and accordingly, the
Trustees shall not be obligated to pay expense reimbursements to the Consultant. Such
annual fee shall be as indicated below.
In consideration of the services rendered, including monitoring/advising of the
self -directed DROP plan, the Retirement System shall pay an all-inclusive annual fee of
$30,000.00.
The Consultant shall notify the Retirement System at least sixty (60) days in
advance of any proposed changes in this fee structure.
ACCEPTED and AGREED to by:
CITY OF PALM BEACH GARDENS
BOGDAHN C N. LTING, LLC.
BY:
Name: , e-,6-" C C 0
SUGARMAN & SUSSKIND
PROFESSIONAL ASSOCIATION
ATTORNEYS AT LAW
Robert A. Sugarman♦
100 Miracle Mile
Howard S. Susskind
Suite 300
Kenneth R. Harrison, Sr.
Coral Gables, Florida 33134
Noah S. Warman
(305) 529-2801
D. Marcus Braswell, Jr.
Broward 327-2878
Pedro A. Herrera
Toll Free 1-800-329-2122
Ivelisse Berio LeBeau
Facsimile (305) 447-8115
♦Board Certified Labor
& Employment Lawyer
December 10, 2007
Board of Trustees
City of Palm Beach Gardens Firefighters' Pension Fund
c/o Margaret M. Adcock, Administrator
The Pension Resource Center k.=s
4360 Northlake Boulevard, Suite 206
Palm Beach Gardens, FL 33410
Re: City of Palm Beach Gardens Firefighters' Pension Trust Fund
Dear Trustees,
Thank you for continuing to retain our firm. We look forward to continuing to work with
you for the benefit of the Pension Fund, the trustees, the participants and their beneficiaries.
This is to confirm the terms of our Fee Agreement. Our services will be provided at the
hourly fee of $285.00, commencing January 1, 2008. This fee arrangement shall remain in effect
through December 31 2010, at which time our fees may be reviewed and the fee adjusted,
although you have the right to discharge us as your attorneys at any time.
We also bill for out-of-pocket costs, such as computerized legal research; special postage
(such as certified mail); long distance telephone calls, (we have a 800 number so there will be no
cost for calling us); travel expenses; filing fees, and court reporter's fees. Travel time will be
prorated among other clients meeting on the same date in the area.
Board of Trustees
City of Palm Beach Gardens Firefighters' Pension Fund
December 10, 2007
Page 2
To indicate your agreement to this agreement, please sign the two original copies of this
letter as indicated and return one copy to our office.
Yours truly,
*wlt
ROBERT A. SUGARMAN
RAS/jd
Enclosure
WE HEREBY AGREE to the terms and conditions set forth in the aforementioned fee
arrangement.
ACCEPTED ON BEHALF OF THE CITY OF PALM BEACH GARDENS
FIREFIGHTERS' PENSION FUND
By:_ ��%f .».. r� �y.-L. Date:
Chairperson
Print Name: