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HomeMy WebLinkAboutAgenda Police Pension 03300608/15/2006 10:47 5616243278 RESOURCE CENTER PALM BEACH GARDENS POLICE TENSION FUND MEETING OF THURSDAY., MARCH 30TH, 2006 LOCATION: City Council Chambers' City Hall Palm Beach Gardens, Florida TIME: 9:00 A.M. 1. Determination. of a Quorum. 2. Presentations by prospective Administrative Managers 3. Adjournment PLEASE NOTE PAGE 03/03 Should any interested party seek N 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 purpovc 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 Americana With Disabilities Act 41f 1990, pervons needing a special accommodation to participate in this meeting should comact Administrative Services, Inc. no later than seven days prior to the meeting. w -K aren MmM I PJ L aco g 50 CkU - Y� ok•e K Qre n a o f a,u�, c ors Reach Agaldem, rpl fc PENSION ADMINISTRATION PROPOSAL SUBMITTED To f 4360 Northlake Boulevard, Suite 206 44- Palm Beach Gardens, FL 33410 Phone (561) 624-3277 4.- Fax (561) 624-3278 ❖ www.RESOURCECENTERS.COM II II THE PENSION RESOURCE CENTER TABLE OF CONTENTS PROPOSAL SECTION Proposal Submission Requirements 4 The Pension Resource Center, LLC Mission Statement and Beliefs Overview Emphasis: Quality and Value Administrative Services Technology Proposal & Fee Structure Disaster Recovery Procedure APPENDIX (ADDITIONAL INFORMATION) Sample: Annual Benefit Statement Sample: Monthly Financial Statement Fidelity Bond/ Coverage For Errors And Omissions 3 Specimen Agreement m Client List Biographies of Primary Staff Table of Contents THE PENSION RESOURCE CENTER PROPOSAL ITEMS: Section 1. Proposal Submission Requirements Section 2. Overview: Pension Resource Center Section 3. Administrative & Recordkeeping Services Section 4. Technology Section 5. Proposal & Fees Section 6. Disaster Recovery Procedure SECTIONS 1 -6 THE PENSION RESOURCE CENTER PROPOSAL SUBMISSION REQUIREMENTS SECTION I Submission requirements Part I: Identification of Bidder A. Identification of the Bidder (Home Office and Office Providing Services): J. Scott Baur, CEO Pension Resource Center, LLC 4360 Northlake Boulevard Suite 206 Palm Beach Gardens, FL 33410 Email: ScottA ResourceCenters. com Direct: (561) 719 -4766 Ph: (561) 624 -3277 x15 Ph: (800) 206 -0116 Fax: (561) 624 -3278 B. General Description of Firm: Size: 18 Total Employees Primary Business: Pension Administration, Benefit Consultant Pension Recordkeeping Type of Organization: Limited Liability Corporation Affiliated Companies: Financial Resource Center, Inc. (Benefit Consultant) Omega Recordkeeping Group LLC (DC Recordkeeper) C. Identification of personnel assigned to the contract: Scott Baur and Margie Adcock will be the primary individuals assigned to oversee the account (See Section 10 for Biographies). We have found it beneficial to assign two individuals to each of our plans, so that the Trustees, service providers, and participants always have an available contact knowledgeable about the plan, its administration, and benefits. D. List of public and private sector retirement systems for which the individual(s) assigned to account currently provide services: J Scott Baur Margie Adcock Boca Raton General Employees Pension Fund Deerfield Beach Firefighters Pension Fund Boca Raton Police & Fire Pension Fund Ft. Pierce General Employees Pension Fund Deerfield Beach Firefighters Pension Fund Lake Worth Division I Firefighters Pension Fund Delray Police & Fire Pension Fund Lake Worth Division 11 Firefighters Pension Fund Hallandale Beach Police & Fire Pension Fund Lantana Firefighters Pension Fund Lake Park Police Pension Fund Oakland Park General Employees Pension Fund Miami Springs General Employees Pension Plan Palm Beach Gardens Firefighters Pension Fund Miami Springs Police Pension Plan Palm Springs General Employees Pension Fund Palm Beach Fire Palm Springs Hazardous Employees Pension Fund Palm Beach Police Sunrise General Employees Pension Fund West Palm Beach Firefighters Pension Fund West Palm Beach Police Pension Fund Scott Baur necessarily takes responsibility, by position, for pension clients administered by the Pension Resource Center. The list shows accounts for which the assigned individuals have significant responsibility for oversight. The staff of the Pension Resource Center is organized into functional units. The Payment Processing Team, the Accounting Group, and the Technology Group will also have assigned responsibilities for the administration of the Pension Fund. n , wau%opwa" no ft"M P, , lLC T -V-18W am" I I oc G—P OII"AdmMWrMbn PMnatft- -ft *=&A** mom anon PMnb� RwoaaM oar. LLC NiMwdk A6nYM�Yrlor Or" Marpr PbnrM MOM- CW AoMOW PiaQaana EYirr 1phn Mb" Sim MNMO Jsoylwr Orton Chiywly R�oplbMl ftAwd MMMWM AMOUMW 0"C"p-m" "n'"aw E. Plans terminating Pension Resource Center as administrator: J-As j m..on 0, 0 Pan— n . Wop j,,WkV &-p BM OYwootl O-Wk— IA— is ft 00r CWM RekWl pMw.W &I�BmNn None. No plan has ever terminated the Pension Resource Center as plan administrator. F. Description of the bidder's understanding of the work to be performed: 1. Establish a Fund office to be open to all interested parties for regularly scheduled business hours. The Fund office will also maintain all records of the Fund. 2. Attend all quarterly meetings of the Board of Trustees and special meetings as needed. 3. Assist in preparation of agendas and notices for, and attend all Board of Trustees meetings and record, transcribe and maintain minutes of those meetings. 4. Ensure that the administrative matters of the Board of Trustees are handled, i.e. correspondence, coordination of Fund service providers, travel reservations for seminars. 5. Establish systems and procedures to record participant service based upon years and The firm of Hanson, Perry, and Jensen, P.A. previously provided pension administration services to funds through a subsidiary, Pension Management Services. Pension Management Services merged with the Pension Resource Center in 2002. As a result of the merger, the firm now maintains a passive minority ownership stake in the Pension Resource Center LLC. The Pension Resource Center is currently making arrangements to acquire the remaining interest held by Hanson, Perry, and Jensen. H. Statement of the bonding and/ or insurance coverage carried by the bidder: Please refer to Section 6 of the proposal for a statement of the Fiduciary Liability Coverage and Fidelity Bond maintained by the Pension Resource Center. 1. List of outstanding litigation involving the bidder: None. The Pension Resource Center has never been involved in any litigation for any matter. Part II: Fees A complete schedule of current fees appears in Section 5 of this Proposal. Please refer to Section 8 of the proposed agreement for a complete list of all possible items excluded from the fee. The Pension Resource Center will guarantee the proposed fee for thee (3) years. hours of service. 6. Establish systems and procedures to record participant salary and contribution information. 7. Be familiar with all plan documents and provisions to assist participants in applications for benefits and generally answer questions regarding the Fund. Administrator must be familiar with Florida laws governing public employee pensions, through a dedicated response team and toll -free number. 8. Assist service providers in obtaining data regarding the Fund. 9. Pay or oversee the payment of benefits and expenses from the Fund. Responsibilities in this area include reconciliation of accounts and preparation of financial statements. 10. Prepare and file necessary government reports and other documentation required by law (e.g., W4P's, withholding election forms, 1099's). 11. Assist in preparation of Summary Plan Description. 12. Develop website for access by participants, which includes online benefit calculations. 13. Other matters which may be delegated to the Administrative Manager by the Board of Trustees. G. Relationship, if any, to other service providers for the Fund: The firm of Hanson, Perry, and Jensen, P.A. previously provided pension administration services to funds through a subsidiary, Pension Management Services. Pension Management Services merged with the Pension Resource Center in 2002. As a result of the merger, the firm now maintains a passive minority ownership stake in the Pension Resource Center LLC. The Pension Resource Center is currently making arrangements to acquire the remaining interest held by Hanson, Perry, and Jensen. H. Statement of the bonding and/ or insurance coverage carried by the bidder: Please refer to Section 6 of the proposal for a statement of the Fiduciary Liability Coverage and Fidelity Bond maintained by the Pension Resource Center. 1. List of outstanding litigation involving the bidder: None. The Pension Resource Center has never been involved in any litigation for any matter. Part II: Fees A complete schedule of current fees appears in Section 5 of this Proposal. Please refer to Section 8 of the proposed agreement for a complete list of all possible items excluded from the fee. The Pension Resource Center will guarantee the proposed fee for thee (3) years. THE PENSION RESOURCE CENTER OVERVIEW PENSION RESOURCE CENTER LLC SECTION 2 THE RESOURCE CENTERS 7I MISSION The Pension Resource Center and its affiliates offer administrative services to its group pension clients and retirement planning services to the individual participants. We are committed to providing the highest level of service to our clients. With every decision we make, we have one overriding purpose: To be available when our clients need us. Our BELIEFS We are a company founded on strong beliefs, beliefs that manifest themselves in the way we do business, through our employees, and in the services we provide. We believe in FINANCIAL STRENGTH. We will only represent products to our clients from companies that also maintain a strong financial position. We believe in INTEGRITY. We believe adherence to the highest standards of integrity is the principal measure of the success of our products, our dealings with our clients, and our contributions to society. Our integrity keeps us dedicated to providing our clients with value and financial security in the products we offer and quality and responsiveness in the services we provide. And most of all, we believe in HUMANITY. We believe in treating both our clients and our employees with compassion, consideration, and respect. Our business is unique in that we possess the ability to help people provide for and secure their futures, and our enduring belief in humanity keeps us from losing sight of this fact. We know that the work we do makes a difference in the lives of the people that we serve. Overvtew The Resource Centers have grown rapidly to become one of the largest providers of benefits and services to public employees in Florida. At the same time, we bring the added focus, incentive, and commitment to our work that only a smaller firm can provide. The Pension Resource Center specializes in the administration of municipal, Chapter 175, Chapter 185, and local law pension plans. The Benefit Resource Center, meanwhile, provides benefit consulting services to public employees, Taft - Hartley plans, and health and welfare trusts. We also offer options to participants of DROP Plans to self - direct the investment of their assets. Through all of these activities, we have developed an awareness and sensitivity to the concerns of both the trustees and the plan participants regarding their selection and use of various benefits. Our commitment to service and excellence remains our highest priority. The Resource Centers are always committed to bringing only the finest resources and expertise to our clients, evidenced by the quality of our principal staff. Scott Baur founded the Resource Centers in 1997, providing benefits and services to participants of bargaining units in the public sector. Scott is widely known as a professional speaker on plan administration, investment, and retirement topics. He has conducted seminars and workshops for both plan trustees and participants. Denise McNeill offers years of experience in benefit administration, accounting, and personal service to the plan participants. Margie Adcock, an active member of the Florida Bar, provided legal representation to public pension and benefit plans for eight years prior to joining the staff of the Resource Centers as General Counsel and Plan Administrator. Ed Scott, as a CPA with extensive consulting experience to human resource departments, oversees the internal controls and procedures for services provided through the Resource Centers. Jim Jameson, with over thirty years of defined benefit and defined contribution recordkeeping experience, manages the recordkeeping and Sungard applications. Dave Jakubiak, in addition to providing plan administration, coordinates the government services division as a former city administrator. The Resources Centers have additional staff with considerable experience in all aspects of pension administration. Based on this combination of experience with qualified plans, retirement planning, and public benefits administration, the Pension Resource Center has both the resources and the expertise to provide administrative services to the City of Oakland Park Police and Firefighter Retirement System. Organization We offer a systematic approach to maintaining records for each fund, using the most advanced and comprehensive integrated database management tools on the market today. We also have a programmer on staff to tailor these programs to the requirements of each client. Thus, we can provide information to the trustees and participants in any useful format as needed. Accessible ty We have one overriding purpose: To be available when our clients need us. We will serve not only the trustees, but each active participant and retired beneficiary of your fund. Service We believe that each participant in the fund deserves our respect and consideration. We look forward to demonstrating to you the commitment to excellence that we offer all our clients. Communication We consider communication with the trustees and the participants of the fund of the highest importance. In addition to traditional forms of communication, the Pension Resource Center also offers internet access to bring timely information to the participants of your fund. ♦ State of the Art The Pension Resource Center utilizes the latest technology and computer software to administer your Pension Fund. With the assistance of this technology, we can provide you with accurate benefit calculations and estimates, bookkeeping services, electronic transfers of funds, and interface with payroll software. The Trustees and Participants can access the Virtual Pension Office through the Internet, via our web page at www.ResourceCenters.com: ♦ Pension Plan documents. ♦ Minutes. ♦ Recent Plan investment performance. ♦ Forms and applications. ♦ Links to State Laws. ♦ Other Board selected and customized information. The Pension Resource Center specializes in the administration of benefits for public employee groups. We also bring extensive experience on the design and installation of qualified pension plans and ERISA guidelines. Because we provide financial services and products to many clients on an individual basis, we can also address the special needs of each participant as well. We will be pleased to offer references from both the trustees and the participants for the plans that we currently serve. ril I I I THE PENSION RESOURCE CENTER ADMINISTRATIVE AND RECORDKEEPING SERVICES SECTION 3 .Administrative Services As a fiduciary, the Trustee shall discharge his or her duties with respect to a Plan solely in the interest of the participants and beneficiaries for the exclusive purpose of providing benefits to the participants and their beneficiaries and defraying reasonable expenses of administering the Plan. (Section 112.656(1), Florida Statutes) The Pension Resource Center will help you satisfy the fiduciary obligation that you have to your Plan and its participants. We believe that we work for all the participants of the Plan, even while we remain accountable to the Trustees for our performance. We also offer an organized approach to maintaining the records and systems essential to the operation of your Plan, so that your Plan operates smoothly at all times. Finally, we have the expertise to back our commitment to you. We know how to provide the support that you require as a Trustee, allowing you to run your Plan more effectively. The Pension Resource Center Offers: ZAbility to Provide the Services Required by the Plan and Trustees ZExperience, Familiarity with Local, State, and Federal Laws OPersonal Service DAccessibility to Trustees and Participants Basic Administrative Services 0 Attend Public Pension Fund Meetings, Including: o Notice o Agenda o Minutes 0 Act as Records Custodian for Plan 0 Assist with Coordination of Service Providers 0 Maintain Systems to Record Contributions to Plan and Disbursements from Plan 0 Complete Monthly and Annual Reconciliation of Accounts 0 Assist in Preparation of Government Reports 0 Maintain Service and Employment Records 0 Provide Access to Plan Records and Information Basic Communication 0 Issue Annual Statement of Benefits to Participants 0 Prepare Fund Correspondence to Providers and Participants 0 Conduct Pension Workshops for Participants 0 Respond to Inquiries by Trustees, Participants, Service Providers, and Employers 0 Advise and Educate Trustees on Various Pension Matters 0 Newsletters and Internet Access Additional Services 0 Prepare and Coordinate Requests for Proposals for Service Providers 0 Assist in Creating and Evaluating Professional Relationships with Service Providers 0 Obtain Quotes for Plan Liability Insurance and Fidelity Bond Coverage 0 Act as Liaison for Plan to Florida Division of Retirement 0 Maintain Pension Checking Account (as Required) 0 Prepare Monthly Financial Statements (as Required) Benefit Processing and Payment 0 Maintain Data for Benefit Eligibility of Participants 0 Process Benefit Applications 0 Assist in Processing Benefit Claims and Appeals 0 Obtain Medical Records for Disability Applications 0 Issue Benefit Payments (As Required) o Check o Direct Deposit (EFT) 0 Tax Deposits, 1099s, and IRS Reporting Admi"I 1W nistrative Services ♦ Attendance At Public Pension Fund Meetings, Including: 0 Notice 0 Agenda 0 Minutes The Pension Resource Center will post notice for all public meetings of Trustees. We will distribute the Agenda to the Trustees in advance of the meetings, and we will take the minutes at the meeting. ♦ Monthly Pension Check Payments: 0 Check 0 Direct Deposit (EFT) We will make monthly pension payments in the manner requested by the retired participant. ♦ Annual Participant Benefit Statements We believe that each participant in the Pension Fund can plan for the future effectively only after properly understanding the available benefits and options. Our employee communications are designed to simplify the significant features of the retirement benefits so that employees can make appropriate decisions about retirement based on their individual circumstances. ♦ Unaudited Monthly Financial Statements Just as effective communication is important to the individual participants of the Pension Fund, proper communication is also essential for the Trustees to manage their Fiduciary obligations to the participants of the Pension Fund. The monthly financial statements represent one of the significant tools available to the Trustees to monitor various aspects of the financial performance of the Pension Fund. ♦ Monthly And Annual Reconciliation Of Accounts We reconcile accounts monthly and annually at a minimum, more frequently if necessary. We exercise every diligence as we assist the Trustees in the performance of their fiduciary obligations to the Pension Fund. ♦ Records Custodian For Fund The Pension Resource Center will maintain all public records associated with the Pension Fund. We will make records available to the Trustees, participants, or other interested parties upon request. Because we have the ability to manage our data systems internally, we can provide financial information in any format required by the Trustees. ♦ Coordination Of Service Providers ♦ Fund Correspondence Timely communication with the respective service providers keeps the Pension Fund operating smoothly and prevents issues from developing into problems. ♦ Monthly Tax Deposits The Pension Resource Center completes both deposits and reporting to the IRS promptly and accurately. ♦ Process Benefit Applications We will provide the information that participants need to make decisions about their future, and we will help each participant file the necessary applications for retirement. ♦ Preparation Of Government Reports We will complete the annual report to the State of Florida, along with the auditor and the actuary for the Pension Fund. Accurate reporting ensures compliance with the requirements of the State. ♦ Routine Communication To Participants ♦ Conduct Pension Overview Workshops For Participants ♦ Internet Web Site Access To Fund Information ♦ Local Administrative Office Accessible To Participants And Retirees ♦ Professional, Knowledgeable Staff ♦ Personal Service Effective communication with the participants of the Pension Fund can take many forms. The typical Trustee works to enhance the function of the Pension Fund and the benefit to each participant; the quality of such communication then determines the quality of the benefit that the participant will derive from the Pension Fund. I I mil I I THE PENSION RESOURCE CENTER TECHNOLOGY OVERVIEW SECTION 4 THE PENSION RESOURCE CENTER Virtual Pension Office www.ResourceCenters.com THE RES W CENTERS The Pension Resource Center utilizes the latest technology and computer software to administer your Pension Plan. With the assistance of this technology, we can provide you with current Plan information, bookkeeping services, electronic transfers of funds, and interface with payroll software. The participants of your Pension Plan, meanwhile, can access Plan documents, common forms and applications, and our online benefit calculation and account inquiry systems. The Trustees and Participants gain entry to the Virtual Pension Office through the Internet, via our web page at www.resourcecenters.com: ♦ Pension Plan documents. ♦ Board approved minutes. ♦ Recent Plan investment performance. ♦ Forms and applications. ♦ Links to other service providers. ♦ Links to State Laws. ♦ Other Board selected and customized information. ♦ Plan Email box. THE PENSION RESOURCE CENTER Virtual Pension Office Online Resources for City of Palm Beach Gardens Police Pension Fund PENSION FUNDS Separate web page Board approved Minutes Eapplications n forms and I ���m� Anobcautin for Rehremem Designation of Beneficiary - - _ - - W-4P Federal Income Tar -,W Refund of Pension Contributions Direct DeoosA Speual La Note S. h3frga of Addre • s Admhii,iwnl The Pension Fund is administered by The Pension Resource Canter. maintained Syr, �wr kn er eeanr City of Sunrise specifically for the General Employs"' RRetirement Plan -- ._._ -. Palm Beach r--7k: www ozsfl LUW �'*_w.3Ae.9!eSey;+L1itLf9P Gardens Police Richard Salamon, Chairman Rosalind Cemm, Trustee Paul Midi, Secretary Dean Dickey , Trustee Pension Fund Don Campbell, Trustee John Rrzao, Trustee Ruth Castellon Trustee Path Bauer, Alternate Trustee Local Ordinance �IO�au�s�n�e��r� �P i[ns1yYc �YNaYa11 f Qn- and Summary Plan Axiom International Imsslors Alldaoc www axinveslcam Poe 0eeeAee! Local Plan Ordinance ILnkl "ummanr Plan Descnotmn< Description Chapter 11 Non Manaoemeni Management Senior Menaaenent Board approved Minutes Eapplications n forms and I ���m� Anobcautin for Rehremem Designation of Beneficiary - - _ - - W-4P Federal Income Tar -,W Refund of Pension Contributions Direct DeoosA Speual La Note S. h3frga of Addre • s Online Benefit Calculation and Account Inquiry System Icon Online Benefit Calculator Questions? GardensPol ice(&,ResourceCenters. com 9 (800) 206 -0116 Admhii,iwnl The Pension Fund is administered by The Pension Resource Canter. Plan Contact Syr, �wr kn er eeanr We can be reached at %1.624 3277 or 1800.2MI16 Information SerAce PrwMem Aura Imestment Managers Gabnel. Roeder, Smith R Company Allegiance Cqual,lnc www ozsfl LUW �'*_w.3Ae.9!eSey;+L1itLf9P AllomeY A1A Asset Management &w��k�a��u��h��n�a��n�. A t)wff 'e Iti c� m �IO�au�s�n�e��r� �P i[ns1yYc �YNaYa11 f Qn- Links to web Axiom International Imsslors Alldaoc www axinveslcam Koch Reiss resources provided www kr -coa corn The Boston Company by other Plan Custodian ~ thebosmncomoanv corn service providers Salem Trust Company DaaH, Hamihon, Jackson & Assoc nww salaml usl Cont wow dtua corn Investment Ac Mao PIMCO (Fixed Income & Equity) kalson L Associates W" aimco. cam wYm ak alson corn Syslemsbc Financial Management yhyw shnlq corn Recent investment Food P Vr the highlights on the latest urrestment padormancs of tha Fund. performance Inroelment Performance rnb e. t­ ai..ne ne ewm era..a m. si. ro re.. � wmew� �w eassa�e en n. uw DeMna of an.q., ie<eeon nn yeui enmeNei Online Benefit Calculation and Account Inquiry System Icon Online Benefit Calculator Questions? GardensPol ice(&,ResourceCenters. com 9 (800) 206 -0116 Announcing ... THE PENSION RESOURCE CENTER Virtual Pension Office Online Benefit Calculation & Account Inquiry System Select Your Pension Fund Click on the `Benefit Calculator" Icon For Pension Benefit Projections Select Your Pension Fund Click on the "Account Inquiry" Icon For Share & DROP Account Balances The Pension Resource Center, is pleased to release our newest service, an online pension benefit calculator and account inquiry system! From our website, you are now able to prepare accurate individual retirement projections based upon your personal service history and payroll information. To access the internet pension benefit calculator, please visit your Pension Fund's web page at www. ResourceCenters.com and click on the "Online Benefit Calculator" button to the left. Please be patient, as the site will likely be very busy from the news of this announcement. Questions? GardensPol ice(a,ResourceCenters. com IN (800) 206 -0116 Go To www.ResourceCenters.com PENSION FUNDS West Palm Beach Police Pension Fund frueuaa 1 Ed Mitchell, Chairman Chris Roaf, Trustee - -�� Jonathan Frost, Secretary Wd White, Trustee Chris Frogskis, Trustee Meetinq Oale Wed. April 7, 2004 8:30 A.M. PBA Hsll —�� 2100 N. Florida Mango Road West Palm Beach, FL 33409 (561) 689 -3745 Plan Oorument7� ;Decial Act Summary Plan Descnatmn Minures: I February 202003 August 15.20Q3 --ems March 102003 September 122003 March 71 7(ri3 October 172003 Aori1182003 November 212003 MaysIm December 192003 June 192003 January 1fi20D4 July 3,M Februa y 132004 Adiediali/taEea deal The Pension Fund is administered by The Pension Resource Carder. We can be reached at 561£243277 or 14M206-0116 l airwks PrYeldeft Accountant kweatmaM Manaaarfs) Chan. Bekaert, & Holland Davis, Hamilton, Jackson 8 Assoc www cbh com www.dhia. corn Actuaoc brvesco Capital Management, Inc. Gabriel, Roeder, Smith & Company www.invesco com www. aranet. c om Attorney Hanson, Perry. &Jensen, PA Ctrs Salem Trust Company wow salemtrusl com West Cap www.wastcapinv com Investment Mondo Smith Barney Consulting Group www.smdhhamev com View the highlights on the latest investment performance tithe Fund Investment Performance T ►Y Y a lelae the and N N said to Jmt desnlead the ale `per wn eampoler..lutt daMallse en the 1'. and middle Rave Ceti M and saw M veer oeddep or alt' 0aaemema at same ather plan, that Is any 10 sad Is", THE PENSION RESOURCE CENTER Virtual Pension Office Online Benefit Calculation & Account Inquiry System Disclosure Page PENSION FUNDS ON -LINE BENEFIT CALCULATOR Security 5 Privacy This site employs an Industry4dandard protocol technology) for secure communications between our server and your browser. This technology provides the following components of secure online transactions; authentication, message privacy and message integrity. Every reasonable effort is made to protect the security of all personally identifiable data located on this site. In addition, all personally identifiable information is not made available to any other parties. Benefit Calculator: I This page provides an estimate of a Plan member's monthly retirement benefits based on data supplied by the employer and additional information provided by you. Projections of retirement benefits are based on continuation of your present pay and full - time service until you become eligible to retire. Every effort has been made to insure that calculations provided to you in this manner are accurate, but they are only estimates and data and calculation errors can occur. Statutes, documents, official Interpretations, and accurate data necessarily govern the final determination of any benefit. For a precise calculation, please contact your Plan Administrator. erns a Londitionsj By accessing this site, I hereby agree that the information provided represents only an estimate of my pension benefits and the final determination of benefits must by made by the actuary engaged by the Plan in accordance with statutes and ordinances in effect at the time that I retire. 1 further agree to Indemnify and hold harmless the Plan, the Board of Trustees, the Trustees (individually and as Trustees), and the Plan Administrator for any decisions that I make based on the information received from this site. I Agree I Disagree THE PENSION RESOURCE CENTER Virtual Pension Office Online Benefit Calculation & Account Inquiry System Input Screen THE RESOURCE CENTERS Pension Benefit Calculator Fund' West Palm Beach Police Social Security Number x xxx- xx -xxxx format Birth Date" mm/dd/yyyy format Name* Beneficiary Birth Date mrrddd/yyyy format Last Day of Service I mm/dd/yyyy format Pension Commencement Date mm/dd/yyyy format Email Address' ie,johndoe@aol.com All fields marked with ' are required. Celculaw Please click only ONE time, the calculation may take up to 60 seconds Any Questions? Contact us wpboolice resourcecenters.com THE PENSION RESOURCE CENTER Virtual Pension Office Online Benefit Calculation & Account Inquiry System Output Screen Palm Beach Gardens Police Pension Fund Estimated of Pension Benefits Prepared For: Employee Date Prepared: Service Information 05/20/2004 Calculation Based Upon Service of: 25 Yrs 0 Mos Calculation Based Upon Monthly Final Average Sala of: $6247 Calculation Based Upon Final Service Date of: 10/01/2009 Calculation Based Upon Commencement Date of: 10/02/2009 ,Type of Retirement (Early, Normal, or Vested Deferred): lNormal Date of Hire: P4549 10/01/1984 Standard Form of Benefit Payment Standard Annuity 4607 Optional Forms of Payment Date of Birth of Beneficiary: 10/08/1961 Member Survivor Life Annuity: 4646 Standard Annuity 4607 3086 100% Joint & Survivor: 4251 4251 66 2/3% Joint & Survivor: R4445 R2963 50% Joint & Survivor: P4549 P2274 Any Questions? Contact us at GardensPolice (cDResourceCenters.com Definitions of Optional Forms of Payment: Standard Annuity - This option provides the stated benefit to you as long as you live. If you are married, your spouse will receive a monthly benefit, which is equal to 66 2/3% of your monthly benefit. If you are unmarried and you should die before 120 payments have been made, the payments will continue to be made to your beneficiary until 120 payments have been made in all. Life Annuity - This option provides the stated benefit to you as long as you live. If you should die before you have received an amount equal to your own contributions to the Plan, payments will continue to your beneficiary until your own contributions have been used up. Joint and Survivor - This option provides the stated member's benefit to you as long as both you and your beneficiary are living. After the death of either you or your beneficiary, the stated survivor's benefit will continue for the life of the remaining person. This page provides an estimate of a Plan member's monthly retirement benefits based on data supplied by the employer and additional information provided by you. Projections of retirement benefits are based on continuation of your present pay and full -time service until you become eligible to retire. Every effort has been made to insure that calculations provided to you in this manner are accurate, but they are only estimates and data and calculation errors can occur. Statutes, documents, official interpretations, and accurate data necessarily govern the final determination of any benefit. For a precise calculation, please contact your Plan Administrator. By accessing this information, you have already agreed that the information provided represents only an estimate of your pension benefits and the final determination of benefits must by made by the actuary engaged by the Plan in accordance with statutes and ordinances in effect at the time that you retire. You have already further agreed to indemnify and hold harmless the Plan, the Board of Trustees, the Trustees (individually and as Trustees), and the Plan Administrator for any decisions that you make based on the information received from this site. rl, lir THE PENSION RESOURCE CENTER PROPOSAL AND FEES SECTION 5 ProposaCandFees The Pension Resource Center will provide administrative services to the City of Oakland Park Police and Firefighter Retirement System, subject to the current fee schedule and limitations: • Fees will include all normal travel to provide services to the Trustees and participants. Should the Trustees require any special travel (Tallahassee, for instance), the Retirement System shall reimburse the additional travel expenses to the Pension Resource Center as required in the performance of duties related to the administration of the plan. • As noted in the specimen contract, such items as printing charges and postage for mass mailings will be billed at the actual expense for the cost of postage and payroll for preparation. Normal costs incurred for copies and postage for correspondence are included in the fee quoted. • The Retirement System shall provide a current copy of the plan document to the administrator, updated as required to maintain compliance with current regulations. The Retirement System, along with appropriate counsel, shall bear the responsibility and any liability related to the maintenance of the plan documents. • The Proposal includes up to 6 monthly and other meetings per plan year. Additional meetings will be billed at a rate of $350.00 per meeting. ProyosaCand F ees The following basic services are included in the proposed fee: Services Related To Meetings Of Trustees: ♦ Schedule Meetings ♦ Attendance At Public Pension Fund Meetings Review Of Statements And Documents: ♦ Review All Statements And Documents Received From: Money Managers Performance Monitors Attorneys Actuaries Accountants Others ♦ Review Bank Statements ♦ Review Custodial Statements Public Records Custodian: ♦ Maintain All Plan Records As Records Custodian ♦ Maintain Current Beneficiary Designations ♦ Assure Compliance With The Government In The Sunshine Law ♦ Assure Compliance With The Public Records Act ♦ Provide Access to Plan Records and Information Basic Communication: ♦ Prepare Fund Correspondence To Providers And Participants ♦ Respond To Inquires By Trustees, Participants, And Service Providers ♦ Advise And Educate Trustees On Various Pension Matters ♦ Act As Liaison For Plan To Florida Division Of Retirement ♦ Internet Access to Basic Plan Information Benefit Processing: ♦ Process Retirement Benefit Applications ♦ Assist In Processing Benefit Claims And Appeals Account Reconciliation And Report Preparation: ♦ Reconciliation Of Accounts ♦ Assist Auditor With Completion Of Annual Audit Additional Routine Services: ♦ Authorize Payment Of Plan Expenses Upon Approval ♦ Assist With Coordination Of Service Providers ♦ Prepare And Coordinate Requests For Proposals For Service Providers ♦ Obtain Quotes For Plan Liability Insurance And Fidelity Bond Coverage The Pension Resource Center can provide the following additional services under a separate fee proposal: Record Keeping: ♦ Maintain Data For Benefit Eligibility Of Participants ♦ Maintain Participant Service, Payroll, and Contribution Data ♦ Preparation Of Schedules For Annual State & Actuarial Reports ♦ Online Benefit Calculation System In addition to full plan administration, the Pension Resource Center can issue benefit payments to include the following services: ♦ Maintain Pension Checking Account ♦ Prepare Monthly Financial Statements ♦ Pay Invoices Upon Approval ♦ Issue Benefit Payments (As Required) 4 Check a Direct Deposit (EFT) ♦ Tax Deposits, 1099s, and IRS Reporting .Administration Without Pamment of Benefits Item Fee Basic Administrative Services: Oakland Park Police & Firefighter $1,575.00 Conversion Fee (System Programming Charge, If Applicable) None Set -Up Fee: Per Disability Or Retirement Application $100.00 Fee Per Medical Records Request (Disability Application) $25.00 Rate Guarantee 1 2 Years IIIIII THE PENSION RESOURCE CENTER DISASTER RECOVERY PROCEDURE SECTION 6 DISASTER RECOVERY PROCEDURES THE RESOURCE CENTERS 4360 Northlake Blvd Ste 206 Palm Beach Gardens, FL 33410 ❖ Ph: (800) 206 -0116 ❖ Fax: (561) 624 -3278 Should circumstances demand activation of a business recovery plan to insure continuation of all essential operations, the Resource Centers will implement and follow the procedures contained herein. The Disaster Recovery Procedure, last updated August, 2005, is incorporated in its entirety into the polices and operating procedures for the Resource Centers LLC, the Omega Recordkeeping Group, LLC, and affiliated companies. Primary Notification Upon activation of the Disaster Recovery Plan, the following information will be immediately provided to the team leader(s): 1. Nature and location of disaster: 2. Name of Emergency Management Team Coordinator: Location: Phone number, fax number, and Email contact for Command Center: 3. Backup location: 4. Telephone number for staff to call for status updates: 5. Special instructions or considerations: Procedures Notify Team Members & Determine Status of All Affected Personnel This manual includes lists to contact every employee of the company. Appendix A contains the Call List/ Team List, which shows the entire organization in a "call tree ". The call tree identifies the person responsible for calling other team members. The calling sequence can be implemented at any point along the tree, in the event that a person is not available. Appendix B contains the core recovery team list. The designated Emergency Management Team Coordinator will contact this team to implement the business recovery plan. The following items will be addressed: 1. Review the situation. 2. Determine if and where key personnel can meet to review plans in detail. 3. Using the team list, identify the additional members of the organization who will be called in to implement the business recover plan. 4. Using the team list, identify the personnel who will maintain essential operations and perform time critical tasks. 5. Using the team list, update the remaining staff regarding the situation. Staff will be notified of any temporary location for operations and any new contact information. The Emergency Management Team Coordinator will notify staff when they might be called to report to work. Initiate Recovery Progress Logs Appendix C contains a template for the Recovery Progress Log; however, any note pad will do. The daily log will include the following information: 1. Date. 2. Time. 3. Description of all tasks and processes implemented, with relevant comments. 4. Names and contact information for emergency managers, clients, or other persons assisting with recovery efforts. 5. Initials of the person making the entry (if multiple people use the same log). The log must document all major activities that occur. This information may be essential to continued recovery efforts, in addition to post recovery evaluation of the business recovery plan. Furthermore, the information will also be required for insurance and legal purposes. The Emergency Management Team Coordinator or designee shall take responsibility to enter information in a formal recovery actions log and transfer informal notes compiled by team members. The Coordinator will continue to update and maintain the log throughout the recovery process and during the return to a primary facility or base of ongoing operations. Review Recovery Priorities Each business function has been assigned a priority level (high, medium, low) and a recovery sequence: Function Priority Level Recovery Sequence Required Equipment Recordkeeping Services High 1 Server Member Distributions High 2 Server, 4050 Printer, Mikr Toner, Check Stock Cash Movement High 3 Workstation/ Internet Access and/ or Fax Communication with Clients High 4 Workstation/ Internet/ Phone/ Fax Preparation for Meetings Medium 5 Server Compliance, Research Inquiries Medium 6 Server Client Service Calls Low 7 Server Presentation Preparation Low 8 Workstation Response to RFPs Low 9 Workstation Network Overview Systems Overview (WEB) SSL Web Server e (OMEGA) o SSL Web Server IL Network Clients t i (BACKUP) Server 100— 150 GB RAID 5 Hardware Firewall (Low Security) (2KMain) PRC Server: Domain Controller Exchange Server ISA Firewall (Hlgh Security) Public Website 0 DSL Modcm Multiple IP Internet Address 0 i Internet Clients PRC - OMEGA Network Diagram (Proposed) The Resource Centers are essentially a technology driven organization. Therefore, operations necessarily depend on the maintenance and restoration of primary and secondary systems. Primary Network Server Cluster Server Description Domain Controller 2kmain Server Network Domain Controller, Data Server, Exchange Server Sungard Server Sungard OmniPlus Server Sungard Server and Data ( Sungard OmniPlus Recordkeeping System) Sungard Server Backup Fully Functional Backup Sungard Server & Backup Domain Controller Voice Server VoiceSery Voice Recognition Server and Systems VoiceSery Backup Fully Functional Backup Voice Server Data Backup Server Tera Station 1 1 TB Automated Daily On -Site Systems & Data Backup Tera Station 2 1 TB Automated Daily Off -Site Systems & Data Backup Perimeter Network Server Cluster Server Description Web Controller 2kweb Resource Centers SSL Web Server Orgweb Omega SLL Web Server & FTP Site ISA Server ISA Server ISA Firewall (Security Network Server) ISA/ Web Server Backup Fully Functional Backup ISA and Web Server Network Description The Primary Network Server Cluster supports the following core functions: the Network Domain Controller; Data Servers; Exchange Server for local and global E -mail functions; Sungard OmniPlus Recordkeeping System supporting the defined contribution recordkeeping applications; Pyramid Voice Recognition System for voice defined contribution voice applications; primary Cash Management and defined benefit pension recordkeeping systems; software applications and data files; and the on -site and off -site daily systems and data backups. Each server that supports mission critical functions includes a fully operational mirror server in case of the failure of any single component. The Perimeter Network Server Cluster supports the Internet and web applications, FTP site for external transfer of data, and the ISA high security Firewall Server. These servers also include a fully operational backup server in case of the failure of any single component. The ISA Server provides an external security layer and an internal security layer to separate applications that allow external access of systems by Internet clients from the Primary Network Server Cluster. This security layer that separates the Perimeter Network Server Cluster from the Primary Network Server Cluster safeguards sensitive systems and data from external intrusion. External access is controlled through redundant high -speed Internet connections to insure continuous access in the event of a service failure by an external service provider. External Clients access the Perimeter Network Server Cluster through an encrypted Secure Socket Layer (SSL) connection. Both Adelphia (Comcast) and BellSouth provide high -speed Internet connections to the Perimeter Network Server Cluster. Each company provides Internet access to a static IP address. In the event of a service failure by either company, Internet access must be redirected to the backup IP address through the Network Solutions control panel. At a minimum, a single server and either Tera Station can support all operations from an alternate location with high -speed Internet access in a catastrophe. Implementation Plan Call Personnel for Hijeh Impact (Essential) Operations Using the call list, the Coordinator will notify the individuals required to perform essential functions. These individuals should be advised where to report, along with any additional information that they will need to begin work. The Coordinator should also communicate such information as the hours the person will be expected to work, living arrangements if the person will be required to relocate, and the availability of amenities (items like restaurants, break rooms, restrooms, etc.) Depending on the circumstances, team members may need to travel to another location requiring overnight or extended stays. Notify Entire Staff Not all staff members may be required to implement the business recovery plan or provide immediate services, but these staff may be considered alternate or "relief' personnel. In some cases, the situation may already involve the entire staff. Anyone not required to immediately report should at least be called and updated on the situation, with an expected time frame to either report or resume normal operations. Refer Media Contacts to Management Ensure that personnel refer all media contacts to the Emergency Management Team Coordinator or other management designee. Verify Availability of Resources If the situation does not require operations to move to another facility/ location, then each affected area of operations must be assessed to determine the resources available on site, determine which resources are not available, and identify any unexpected needs. The team members should review the following categories of resources in order to compile a detailed inventory of assets, as well as equipment requiring repair or replacement: • Availability of Power • Hardware/ Software • Servers • Network Switch & Router • Network Cables/ Communication • Workstations • Printers • Telecommunications • Phone • Fax • Internet • Office Space ■ Condition/ Availability of Furniture ■ Critical Records ■ Forms & Supplies Items requiring repair or replacement should then be ranked according to the most important business functions identified in the recovery sequence. Relocate Essential Documents to Alternate Facility If operations must be provided from an alternate location, the following documentation should be available at that location: 1. Plan Documents/ Current Information 2. Client Contact Information 3. Legal Files and Contracts 4. Forms and Supplies Notify Support Services The following support services must be notified of changes: 1. Mail should be temporarily held or routed to the new location. 2. Incoming phone numbers should be reactivated/ switched to the new location. 3. Temporary and permanent connections for Internet and Email service should be established. 4. Courier services, if needed, should be arranged. Initiate Recovery of Servers The server incorporates the following safeguards: 1. The data servers write all data files simultaneously to a hard drive array. 2. Each server runs on a battery backup with redundant power supplies. Each mission critical server has a secondary backup server that mirrors the primary server. 3. All programs and data backup daily to two separate backup units, one on -site and one off -site. Each Tera Station data backup contains the files and data to run all critical functions when connected to a server. 4. At least one workstation contains current duplicates of all server functions and data. This laptop can function as a surrogate server at any location, or the laptop can run all essential functions as a standalone computer. The following applications and data locations should be verified following reactivation of the server: 1. Defined Pension Benefit Systems on shared data Drive F. These directories must all reside on the same network drive: Benrec Pension Payment and Cash Management Systems Penben Defined Benefit Recordkeeping Systems Letter Benefit Letter Extracts Upload ACH Files & Check Recon Files Spool Spooled Reports Check factory can reside on any network drive: Cfactory Check factory— LFEWIN2.EXE The following environment variables must be set on each workstation: SET COBSW = +C +C4 aslmfnet = f. \mfaslmf 2. Macola (Accounting System) on shared data Drive M. 3. Common data files on shared data Drive S. 4. Microsoft Outlook for Email access. 5. Microsoft Exchange Server for office communications. 6. Internet access or connection. Coordinate Vendor and Service Support Coordination with vendors will be necessary to acquire resources or services not provided through the Resource Centers. Appendix D lists facility management contacts and phone numbers, phone numbers for telecommunication and Internet service providers, banking information, and contact/ phone numbers for additional computer systems support. Notify Key Client Contacts Appendix E contains contact sheets, with additional contact information for third party service providers, for all client groups. These individuals should be notified as soon as possible regarding the details for continuing account service during the disaster recovery period, including new office contact information, address if necessary, and anticipated time frame until full restoration of normal operations. The Resource Centers will update key contacts on recovery progress until normal operations are resumed. Appendix A: Call List (Note: This page contains personal data and contact information for employees. Personal information was intentionally omitted.) Organizational Chart J. Bach Brr, m Pon A&nW* JM Do** MaNYN, Opwtllor MM A*"k t0tlbr OreYp TOO-6 WQMW OCR OraW T W RtNaNw Ctrttrt LLC DNN7t AaNriMrttlon Pgmtrt Pmorth9 A000," &wp Mr9r. 1 Adootlr, PYn AdrnYtMrtYoA Bq jogMen Jt ntt Jwnsw% WAna 9 N bm PrWon R— C~ LLC RtlnPrk AAnMittbr OmtpN R@=dWgft G-up JdiM Tyler (FIC) PAd VWftz Ed ftm M* ed"M TM) Jtm vM*M ur @cUtWW Bryn G h%vod OToN Mtnpr Pymrt MNrrpNr CItN AooarrteM Plan AdrnYi4Mor AOnFtWMOr RmPtitrrwr OPWOMMMMW a" BNpdon dkN MMMtN MW &"Nh Jot Dylws ONr10 Jt1oNYt Jm -" a"" RNaptlat�l PymtrtAWM�t Acoaxtwd CgNOmY. Oowrnwt so%%" cut Rakfth Mp Mrrpor B Wn 8mth Appendix B: Core Recovery Team Team members may change depending on the location or nature of the disaster. The following chart details the composition for the standard recovery team: J. Scott Baur, CEO The Resource Centers LLC Sergio Giron Ellen Schaffer Network Administrator Programmer Denise McNeill, Operations Margaret Adcock, Plan Administration I James Jameson, Managing Partner The Resource Centers LLC Pension Resource Center LLC Omega Recordkeeping Group LLC Appendix C: Recovery Progress Log Log Entry Entry By: Date: Time: Contact Information Name: Phone: Reason/ Details for Contact: Procedures Implemented Appendix D: Vendor & Service Support Contact List Description Service/ Contact Person Contact Information ACP (Property Owner/ Manager) Norma Protting, Property Manager 4360 Northlake Boulevard Palm Beach Gardens, FL 33410 561 694 -2455 BellSouth (Phone and Internet Service) Adelphia (Internet Service) Florida Digital (Phone Service) Fidelity Banking Contacts Melissa J. Tyner, Vice President Business Development Phone: 561- 803 -9958 Fax: 561 -832 -2190 mtyne rA fi de l i ty fede ra l . com Mark Nuzolo, Vice President Cash Management Dept 205 Datura Street 3rd Fl West Palm Beach, Fl 33401 Phone: (561) 803 -9815 Fax: (561) 803 -9804 MNuzolo(a-fidelityfederal.com Patrick Tylander, Asst Vice President Business Development Officer Phone: (561) 803 -9815 Fax: (561) 832 -2190 PTylande(a_fidelityfederal.com Bank of America Contacts Mindy Nichols Bank of America 625 N. Flagler Drive West Palm Beach, FL 33401 Ph: 888 - 852 -5000 x3503 Fax: 561- 838 -5087 Mindy .Nichols(a,bankofamerica.com Wachovia Contacts Contact List Description Service/ Contact Person Contact Information Northern Trust (Banking) Stacey Halberg, Vice President Chris Storkerson, Vice President Northern Trust Bank 770 East Atlantic Avenue Delray Beach, FL 33483 Ph: (561) 278 -1300 x204 Ph: (800) 336 -6445 Fax: (561) 272 -6222 cs 102Antrs.com Appendix E: Group Client Contact List (Note: Contact lists for clients contain personal information; therefore, all client contact lists were intentionally omitted from the public distribution of the Disaster Recovery Procedures. The Resource Centers will only provide specific contact information to each respective client on request.) II THE PENSION RESOURCE CENTER Appendix A. Appendix B. Appendix C. Appendix D. Appendix E. Appendix F. APPENDIX Sample Benefit Statement Sample Financial Statement Fidelity Bond/ E &O Coverage Specimen Agreement Client List Biographies of Primary Staff APPENDIX: SECTIONS A -F ri11171, THE PENSION RESOURCE CENTER SAMPLE: ANNUAL BENEFIT STATEMENT APPENDIX: SECTION A PALM BEACH GARDENS POLICE PENSION FUND Statement of benefits as of October 1, 2005, prepared for Name: Officer Joe Social Security Number: 123-45 -6789 Your Normal If you retire on your normal retirement date of 10/31/2009 at age 50.0, your monthly retirement income Retirement Benefits for life is estimated to be: $3,565.43 From the fund based on your current average final salary of $4,989.69 and 24.1 years of service. You may also be able to retire at the early date of 10/31/2009 at age 50.0 with 24.1 years of service. The estimate of your normal retirement benefit assumes that you choose the standard form of benefit payment and that your current final average monthly pay continues until retirement. Future pay changes will affect the amount of your retirement income. Your Benefits as of You have already earned the following portion of your Fund benefit: October 1, 2005 $2,654.81 Is the portion of your normal retirement benefit based upon your 18.0 years of completed service. 10/711995 Is the date that you are fully vested in your pension benefit. $47,788.11 Is the current total of your accumulated contributions to the Fund. Share Account $96,181.51 Beginning Balance 10/0 1 /04 Balance as of $4,032.64 Annual Contributions based on 26 pay periods of service during the October 1, 2005 2001 calendar year. ($8,005.16) Investment Earnings based on a fiscal year investment return of — 8.32 %. ($480.20) Administrative Expense based on an expense rate of 0.5% ($227.33) Holiday Buyback (Employee Contributions) $91,501.46 Ending Balance 09/30/05 Interest Election The election that you made to invest the money in your Share Account took effect on October 1, 2004. This statement, on the other hand, shows the activity in your account for the fiscal year ending on September 30, 2005. Therefore, this statement does not yet reflect the election that you made for the investment of the money in your Share Account. As of October 1, 2005, you elected to have your Share Account credited with investment earnings using a fixed rate of 8.25 %. Beneficiary Your current primary beneficiary(s) on file is Cuppa Joe. Please contact the plan administrator at (561) Designation 624 -3277 or obtain a beneficiary designation form from the website at www.ResourceCenters.com if you need to update your beneficiary. Other Benefits In addition to the benefits shown, you or your dependents may be eligible for additional benefits or optional forms of benefits from the Fund upon completion of eligibility requirements to provide financial protection in the event of: • Disability while still employed • Death while still employed. • Death after retirement. How This The benefits shows on this statement are approximations based on data used for the last annual Statement actuarial valuation of the Fund. The projection of normal retirement benefit is based on Was Prepared continuation of your present pay and full -time service to retirement. Care was taken to be accurate in preparing this statement, but errors can occur. Statutes, documents, official interpretations and accurate data necessarily govern the final determination of any benefit. THE PENSION RESOURCE CENTER LLC 4360 Northlake Boulevard, Suite 206 4• Palm Beach Gardens, FL 33410 Phnne (5611 0?4 -i?77 -:* Fav (gA1) h?4 -177R 44 VAY1W RP-,n11RC`1:( PMTFRQ CYIAA THE PENSION RESOURCE CENTER FIDELITY BOND/ ERRORS AND OMISSIONS APPENDIX: SECTION C FideCtty Bond/ Coverage for Errors and Omissions The Pension Resource Center shall maintain at least $1,000,000.00 coverage for Errors and Omissions and appropriate Fidelity Bond. Proof of coverage will be offered prior to assuming administrative duties for the Pension Fund. 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WITNESSETH: WHEREAS, the Trustees are the duly appointed and elected Trustees of THE PALM BEACH GARDENS POLICE PENSION FUND, an Employee Benefit Plan, hereinafter referred to as the "Fund ", maintained and operated in accordance with Article III of the Code of Ordinances of the PALM BEACH GARDENS, as well as the appropriate provisions of Chapter 112 and Chapter 185 of the Florida Statutes, the Internal Revenue Code of 1986, as amended (the "Code "), and other State Statutes and the rules and regulations promulgated under these laws; and WHEREAS, the Trustees are authorized and empowered to engage an Administrative Manager to assist them in discharging their duties and responsibilities as Trustees and as named fiduciaries of the Fund; and WHEREAS, as a result of its investigation, the Trustees have determined that it is in the best interests of the Participants and Beneficiaries of the Fund to engage the services of the Administrative Manager upon the terms and conditions hereinafter more fully set forth. NOW, THEREFORE, in consideration of these premises, the mutual promises of the parties and other good and valuable consideration, the receipt and sufficiency of which are hereby mutually acknowledged, it is hereby covenanted and agreed by and between the parties hereto as follows: 1) ADMINISTRATIVE MANAGER a) Engagement The Trustees hereby engage and hire The Pension Resource Center, LLC who hereby accepts the engagement and hiring by the Trustees to serve as the Administrative Manager and pension coordinator of the Fund. b) Duties and Responsibilities Without limiting the generality of the foregoing, it is mutually acknowledged and agreed that the Administrative Manager is engaged to perform those duties and responsibilities of the Trustees as the "Fund Administrator" which are delegated to it in accordance with the express terms of this Agreement. c) Limitation ofAuthority The Administrative Manager shall not: i) Exercise any discretionary authority or discretionary control respecting the management or administration of the Fund; or ii) Exercise any independent authority or control with respect to the management or disposition of the assets of the Fund; or iii) Render investment advice for a fee or other compensation, direct or indirect, with respect to any monies or other property of the Fund. 2) FIDUCIARY By execution of this Agreement, the Administrative Manager acknowledges that it is a fiduciary of the Fund within the meaning of the Employee Retirement Income Security Act of 1974 ( "ERISA ") and § 112.656, Florida Statutes. 3) FEES a) Basic Fee The Trustees agree to pay to The Pension Resource Center, LLC for all services described in this Agreement the sum of $2,275.00 per month. This fee shall be guaranteed for a period of two years commencing from the effective date of this Agreement. The fee includes 6 meetings per calendar year. Additional meetings will be billed at a rate of $350.00 per meeting b) Benefit Payment and Processing The Pension Resource Center, LLC shall charge an additional fee of $100.00 per retirement or disability application processed, and $25.00 per medical records request. Benefit payments shall be issued for a cost of $3.00 per check or transfer and $10.00 per check for other non - periodic disbursements or payment of invoices. c) Additional Fees The Trustees shall pay the actual cost for the initial setup of the software systems used by the Administrative Manager. Any other fee charged by the Administrative Manager shall be approved by the Trustees prior to being incurred. 4) DURATION This Agreement shall become effective on April 1, 2006, and shall continue until otherwise terminated in accordance with the terms of this Agreement. After April 1, 2008, this Agreement may be reviewed and renegotiated. If this Agreement is not renegotiated, then this Agreement shall continue in full force and effect until either party requests negotiation, which may be done at any time. 5) TERMINATION The Trustees for the Retirement Plan may terminate this Agreement by written notice at least thirty (30) days prior to the effective date of termination. The Administrative Manager may terminate this Agreement by written notice at least ninety (90) days prior to the effective date of termination. In the event of termination, the Administrative Manager shall promptly turn over to the successor Administrative Manager or such other party designated by the Trustees all records, reports and documents belonging to the Trustees and in the possession of the Administrative Manager. The electronic data processing system of the Administrative Manager, except for systems provided by Ellen Schaffer, and all specifications, punch cards, magnetic tapes, disc packs, programs, manuals or other documents and appurtenances hereto are and shall remain the sole, absolute and exclusive property of the Administrative Manager to the extent not inconsistent with any law or regulation; provided, however, that all of the data and information referred to in Sections 6(d), 6(e), 6(f)(viii), 9, and 10; member record database; and payroll history database are and shall remain the sole, absolute and exclusive property of the Trustees. Any extraordinary expenses incurred by the Administrative Manager in connection with this transaction shall be billed directly to the Trustees as an additional expense, provided that the Administrative Manager has the prior approval of the Trustees. 6) SERVICES The Administrative Manager shall be responsible for and in charge of all administrative services required of it by the Trustees for the proper and complete administration of the Fund. Without limiting the generality of the foregoing, the Administrative Manager shall perform the following services: a) Establish a Plan Administration Office known as the "Fund Office" in Palm Beach County in a building accessible to the public. The Administrative Manager shall provide and pay the employees necessary so that the office shall be properly staffed to enable the Administrative Manager to perform its services and fulfill all of its duties and obligations hereunder. The office shall be open to all interested parties during normal business hours and at such other times as are mutually agreed upon by the parties. b) Attend all meetings of the Board. c) Properly, adequately and effectively respond to inquiries by participants or their beneficiaries, by the Trustees, by the Trustees designated service providers or by the Palm Beach Gardens. d) Develop, establish and control proper procedures for the recording of all contributions required to be paid to the Fund from participating Employees, from the Palm Beach Gardens, and all such other payments and disbursements consistent with the provisions of the objectives of the Trustees, including the installation of electronic and mechanical systems for such purposes. e) Maintain statistical data for the Trustees, Auditor and Fund Consultant, including vesting and accrual history and eligibility history of participants when such are needed or required. f) Assist in the design and development of communication booklets, brochures and forms, and arrange for distribution of required materials to participants and beneficiaries of the Fund. g) Maintain permanent true and accurate copies of all Fund documents, including the Plan Document, Insurance Policies, Booklets, Brochures, forms and all other Plan related material, government reports, correspondence, memorandums, Contracts, Minutes and all other pertinent data and records of the Fund as may be required. h) If authorized by the Trustees, install and control benefit claim payments systems and supervise their operation insuring prompt and accurate recording of vesting and benefit accrual based solely on data provided by the Palm Beach Gardens, including credited service and the processing of applications and making of monthly payments to participants and beneficiaries. The Administrative Manager shall provide all personnel for the prompt and accurate processing and payment of the claims, including, but not limited to: i) Maintenance of Designation of Beneficiary forms; ii) Maintenance of elections and rejections of forms of benefit payments; iii) Assist participants in completing and filing of applications for benefits under the pension plan; iv) Processing all applications in accordance with the PALM BEACH GARDENS POLICE OFFICERS AND FIREFIGHTERS PESION FUND, as amended; v) Assist in preparation and filing of necessary government reports and other documentation required by law; vi) If required by the Trustees, attend meetings of participating members in the Palm Beach Gardens and adequately explain Benefit Coverage to any Participant or Beneficiary or group of Participants and Beneficiaries; vii) Provide Summary Plan Descriptions to Plan Participants, exclusive of mass mailings; viii) Maintain the claim files of all Participants and Beneficiaries established by the Administrative Manager and provide for storage of same; ix) Process for the Trustees' review and determination all claims appeal requests; x) Perform such other administrative and related advisory functions and services as may be requested from time to time by the Trustees. Such requests may be attached hereto and made a part hereof by appropriate addenda; xi) Furnish the postage for the mailing of routine correspondence; and xii) Install and maintain a website containing information available to the participants of the Fund. 7) OBLIGATIONS OF ADMINISTRATIVE MANAGER It is mutually covenanted and agreed that all services rendered by the Administrative Manager to, for, or on behalf of the Trustees shall be subject to and governed by the following terms and conditions: a) The Administrative Manager with reasonable dispatch shall render all services. b) All services rendered by the Administrative Manager shall be adequate and convenient to the Trustees and the Fund's Participants and Beneficiaries. c) The Administrative Manager shall familiarize itself with the basic documents under which the Fund is established, and thereafter render any and all services consistent 4 with or to further the purposes for which said Fund was established and currently operates. d) In the performance of its obligations hereunder the Administrative Manager shall be governed by the rules, regulations and policy determination made by the Trustees. 1) EXCLUDED ITEMS IT IS UNDERSTOOD AND AGREED by the parties to this Agreement that the fee does not include: a) The cost of the Pension Fund's Fidelity Bond or Fiduciary Liability Insurance; or b) The cost of audits performed by Certified Public Accounts and other Auditors selected by the Trustees; or c) Legal fees for services performed by Attorney(s) selected by the Trustees; or d) The cost of the current software systems used by the Pension Fund; or e) Printing of Pension Fund Materials, Booklets, Checks or microfilming of Pension Fund records, if requested by the Trustees; or f) The providing of any funds whatsoever for the payment of Benefits, expenses, or premiums which are the liability of the Pension Fund as administered by the Trustees; or g) The cost for any special or bulk mailings, including preparation, required by law or requested by the Trustees; or h) Overnight delivery charges incurred in the normal course of business on behalf of the Pension Fund; or i) Postage for mailing of benefit payments or statements; or j) Direct expenses incurred as a result of any travel out -of -town as required by the Pension Fund or the Trustees; or k) Any extraordinary commitment of time or resources relating to the negotiation of benefit changes as directed by the Trustees, including special group meetings or presentations for members of the Pension Fund to discuss or review such changes; or 1) Changes to the software systems maintained by the Administrative Manager necessitated by changes to the provisions or policies of the Pension Fund, operating environment changes necessitated by outside software vendors, or changes to accommodate special requests by the Trustees. 8) RECORDS a) The Trustees will turn over to the Administrative Manager true copies of all records, reports, information and other data pertaining to this Fund. The Administrative Manager shall rely upon the completeness and accuracy of the records, reports and data delivered to it by the Fund. It is further agreed that the Administrative Manager shall make a diligent effort to transfer all employee and employer related data from the computer system of the Fund to its computer system(s). The Trustees acknowledge that the Administrative Manager will not be held responsible for any liabilities incurred by the Fund which may result from the inaccuracy of any data maintained by the Fund whether transferred to the Administrative Manager via computer tapes or received in the form of written and/or printed information. b) In the course of performing its administrative services hereunder, the Administrative Manager shall notify the Trustees of any other and further information, records and/or reports which are necessary to maintain proper records and render proper reports to meet the needs of Participants and Beneficiaries and Trustees and maintain compliance with current legal requirements. Administrative Manager shall assist the Trustees in ascertaining additional information, and in establishing and maintaining additional records and reports; provided, however, the liability and obligation of the Administrative Manager in connection herewith shall be limited to properly maintaining and reporting on the information and records delivered to it. 9) REPORTS Administrative Manager shall work with and assist the Trustees and their professional advisors in the preparation of records and reports to be filed with governmental departments or agencies or which are necessary to be disclosed and distributed to participants and beneficiaries. 10) DISCLOSURE OF RECORDS All information, including records and other data, which may come into the possession of the Administrative Manager shall be subject to disclosure and production to the extent required by the Public Records Act, Chapter 119, Florida Statutes, or upon compulsion of a subpoena issued by a Court of competent jurisdiction. 11) FIDELITY BOND AND INSURANCE The Administrative Manager agrees to maintain at least $1,000,000.00 coverage for Errors and Omissions and appropriate Fidelity Bond. The Administrative Manager agrees to immediately notify the Trustees, in writing, in the event of any change in its coverage and to immediately notify the Trustees if said coverage is terminated, canceled or discontinued, in whole or in part. 12) AGENT FOR SERVICE OF PROCESS All notices hereunder shall be deemed to have been duly given if mailed by certified or registered mail, postage prepaid to: a) The Trustees The PALM BEACH GARDENS POLICE PENSION FUND Copies of all such notices shall also be sent to Fund Counsel: Bonni Jensen, Attorney Hanson, Perry, & Jensen, P.A. 400 Executive Center Drive, Suite 207 West Palm Beach, FL 33401 -2922 b) The Pension Resource Center, LLC J. Scott Baur, CEO Pension Resource Center, LLC 4360 Northlake Boulevard Suite 206 Palm Beach Gardens, FL 33410 13) DISPUTES In the event a dispute should arise between the parties hereto as to the interpretation, application, implementation or violation of this Agreement, and if the parties are unable to resolve within sixty (60) days, the parties agree to submit to binding arbitration. 14) DAMAGES a) The Trustees covenant and agree to indemnify and hold harmless the Administrative Manager, its shareholders, directors, officers, employees, successors and assigns from and against all claims, losses and expenses, including reasonable attorney(s) fees and costs, which it shall incur as a result of its performance of the terms and conditions of this Agreement; save and excepting only acts which constitute any material breach of duty by the Administrative Manager arising under the terms of this Agreement or by law. Should the Fund become involved in any litigation that would demand an extraordinary commitment of the resources of the Administrative Manager, such expenses shall be reimbursed by the Fund as mutually agreed by both parties prior to any resources actually being provided b) The Administrative Manager agrees that it shall be liable to the Trustees for any damages or losses which the Trustees or the Fund may incur as a result of any gross negligence or intentional act(s) or omission(s) of Administrative Manager or material breach of this Agreement by the Administrative Manager. 15) GOVERNING LAW This Agreement has been executed in the State of Florida and shall be governed and construed in accordance with the laws of that jurisdiction. 16) ASSIGNMENT This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and to their separate and respective successors and assigns; provided, however, this Agreement cannot be assigned by either party without prior express written approval of the other. 17) PUBLIC ENTITY CRIMES BILL Section 287.133, Florida Statutes, provides that a person or affiliate who has been placed on the convicted vendor list following a conviction for a public entity crime may not submit a bid on a contract to provide any goods or services to a public entity, may not submit a bid on a contract with a public entity for the construction or repair of a public building or public work, may not submit bids on leases of real property to a public entity, may not be awarded or perform work as a contractor, supplier, subcontractor, or consultant under a contract with any public entity, and may not transact business with any public entity in excess of the threshold amount provided in Section 287.017, Florida Statutes, for CATEGORY TWO for a period of 36 months from the date of being placed on the convicted vendor list. 18) ENTIRE AGREEMENT This Agreement constitutes the entire understanding and agreement by the parties hereto and shall not be modified, amended or revoked except by the express written consent of the parties. This Agreement is executed in two (2) counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. In the event any provisions of this Agreement are determined to be invalid or illegal, such invalidity or illegality shall not affect the remaining provisions of this Agreement as presently written or subsequently amended, unless the invalidity or illegality prevents the Trustees or the Administrative Manager from accomplishing the purposes of the Agreement. IN WITNESS WHEREOF, the parties who caused this Agreement to be executed in several counterparts, each of which shall be deemed an original copy, but all constituting one and the same document. DATED AT PALM BEACH GARDENS, FLORIDA, THIS _ DAY OF , 2006. BOARD OF TRUSTEES OF THE PALM THE PENSION RESOURCE CENTER, LLC: BEACH GARDENS POLICE PENSION FUND: i In (Chairman) (Secretary) (Witness) (CEO) (Witness) riIIIII THE PENSION RESOURCE CENTER CLIENT LIST APPENDIX: SECTION E References DC R.ecordkeeping CCtents Through Omega R.ecordkeeping Group: 0 Boynton Beach Firefighters Pension DROP Plan 0 Causeway Lumber Company 401(k) Plan 0 Crawford Non - Qualified Deferred Compensation Plan 0 Dade Paper Profit Sharing Plan 0 Delray Beach Police & Firefighters Pension DROP Plan 0 Dixie Metal Products, Inc 401(k) profit Sharing Plan 0 Greenfield Non- Qualified Deferred Compensation Plan 0 GRS Savings and 401(k) Plan 0 GRS Employee Stock Ownership Plan 0 Henderson Mental Health Revenue Sharing Plan 0 JM Family Profit Sharing Plan 0 Miramar General Employees Pension DROP Plan 0 Miramar Excess Plan 0 Michigan Municipal Employees Retirement System (MERS) 0 Presbyterian Church of America 403(b) Plan 0 Pompano Beach Police & Firefighters Pension DROP Plan 0 Royal Caribbean Cruise Lines Retirement Plan 0 Royal Caribbean Cruise Lines SERP Plan 0 South Central Regional Wastewater Treatment 401(a) Plan 0 Diocese of Venice 401(k) Plan 0 Woodhouse Inc. Thrift Plan 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Defined Benefit R.ecordkeeping & .Administration Clients 71hrough the Pension Resource Center: Amalgamated Transit Union Local 1596 Pension Plan Boca Raton General Employees Pension Fund Boca Raton Police and Fire Pension Fund Cape Coral Firefighters Pension Fund Cape Coral General Employees Pension Fund Cape Coral Police Pension Fund Daytona Beach Police & Fire Pension Fund Deerfield Beach Firefighters Pension Fund Delray Police and Fire Pension Fund Fort Pierce General Employees Pension Fund Fort Pierce Police Pension Fund Hallandale Beach Police & Fire Pension Fund Jupiter Police Pension Fund Lake Park Police Pension Fund Lake Worth Division I Firefighters Pension Trust Fund Lake Worth Division II Firefighters Relief and Pension Fund Lantana Firefighters' Pension Fund Miami Springs General Employees Retirement System Miami Springs Police Officers Retirement System Miramar Firefighters Pension Fund North Palm Beach Police & Fire Pension Fund Oakland Park General Employees Pension Fund Palm Beach Gardens Firefighters Pension Fund Palm Beach Firefighters Retirement System Palm Beach Police Retirement System Palm Springs General Employees Pension Fund Palm Springs Hazardous Employees Pension Fund Presbyterian Church in America Riviera Beach Municipal Firemen's Pension Trust Fund Royal Palm Beach Firefighters Money Purchase Plan and Trust St. Lucie County Fire District Employees Health and Welfare Trust Sunrise General Employees Retirement Plan West Palm Beach Firefighters Benefit Fund West Palm Beach General Employees' Pension Fund West Palm Beach Firefighters Pension Fund West Palm Beach Police Pension Fund US Sugar Corporation US Sugar Benefit Plan 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Some .Additional Professional Working Relationships Relationships Actuarial Sciences Associates, Inc. (Actuary) Adalante (Investment Manager) Allegiance Capital (Investment Manager) Alliance Bernstein & Co. (Investment Manager) Ark Asset Management (Investment Manager) Amsouth Bank (Custodian) Anchor Capital Management (Investment Manager) Aon Consulting (Actuary) Artisan (Investment Manager) Ark Asset Management (Investment Manager) Asset Consulting Group, Inc. (Investment Monitor) Axiom International Investors (Investment Manager) Bank of America (Investment Manger) Bank of New York (Custodian) Barclay Global Investments (Investment Manager) Barrow Hanley (Investment Manager) Bogdahn Consulting (Investment Monitor) Bollenback & Forret (Accountant) Boston Company (Investment Manager) Buck Consultants (Actuary) Buckhead Capital Management (Investment Manager) Burgess Chambers & Assoc. (Investment Monitor) Caler Donten Levine (Auditor) Capis (Commission Recapture) Cherry, Bekaert, and Holland, CPA (Accountant) Chicago Equity Partners (Investment Manager) Christiansen & Dehner (Attorney) Citigroup (Custodian) Ron Cohen (Attorney) Cook & Bieler (Investment Manager) CS McKee (Investment Manager) Cypen and Cypen (Attorney) Dana Investment Advisors (Investment Manager) Davis, Hamilton, and Jackson (Investment Manager) DePrince, Race, and Zollo (Investment Manager) Dodge & Cox (Investment Manager) Donaldson & Company (Commission Recapture) Dulaney & Company (Actuary) Earnest Partners (Investment Manager) EFI Actuaries (Actuary) Ernest & Young (Accountant) Fidelity Federal Bank & Trust Fiduciary Trust International of the South (Custodian) First Union (Custodian) Florida Division Retirement Foster and Foster (Actuary) Cabelli Asset Management (Investment Manager) Gabriel, Roeder, Smith and Company (Actuary) Geneva Capital Management (Investment Manager) Goldman Sachs (Investment Manager) Steve Gordon, CPA (Accountant) Haas Diaz & Company (Auditor) Hanson, Perry, & Jensen, P.A. (Attorney) Harris Associates (Investment Manager) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Intech (Investment Manager) ICC Capital Management (Investment Manager) ICMA (Investment Manager) Income Research & Management (Investment Manager) Invesco Capital Management (Portfolio Manager) IronBridge Capital Management (Investment Manager) JP Morgan (Investment Manager) Kalson & Associates (Investment Monitor) Kennedy Capital Management (Investment Manager) Key Trust (Custodian) Koch, Reiss & Company (Auditor) KPMG (Auditor) Loomis Sayles & Company (Investment Manager) Lynch Jones Ryan (Commission Recapture) Matrix (Custodian) Mercator (Investment Manager) Meridian Capital Partners (Investment Manager) Merrill Lynch Consulting Services (Investment Monitor) MFS Institutional (Investment Manager) Mierzwa and Associates (Attorney) Milberg Weiss (Securities Litigation) Milliman USA (Investment Monitor) Montag & Caldwell (Investment Manager) Northern Trust (Custodian) NWQ Investment Management (Investment Manager) Oechsle International (Investment Manager) PIMCO (Investment Manager) Pine Grove Associates (Investment Manager) Prime Buchholz & Assoc. (Investment Monitor) Pine Grove Associates (Investment Manager) Principal Global Advisors (Investment Manager) Prudential Securities (Investment Manager) Public Pension Professionals (Actuary) Rayborn & Co. (Investment Manager) Richmond Capital Management (Investment Manager) Rittenhouse Financial Services (Investment Manager) Rhumbline (Investment Manager) Roanoke Asset Management (Investment Manager) Ruden (Attorney) Robert Klausner (Attorney) Salem Trust Company (Custodian) Sawgrass Asset Management (Investment Manager) Segal Company (Actuary) Schiffrin & Barroway (Securities Litigation) Smith Barney (Investment Monitor) Stanley, Holcombe & Associates (Actuary) State Street Global Advisors (Investment Manager) Strong Capital Management (Investment Manager) Sugarman and Susskind, P.A. (Attorney) SunTrust Bank (Custodian) Systematic Financial Management (Investment Manager) Taplin Canida & Habacht (Investment Manager) Thompson Segal Walmsley (Investment Manager) Torray (Investment Manager) Wachovia Bank (Custodian) West Cap (Investment Manager) Westwood Management Corporation (Investment Manager) William Blair & Company (Investment Manager) ril I T HE PENSION RESOURCE CENTER BIOGRAPHIES OF PRIMARY STAFF APPENDIX: SECTION F Biographies ✓. SC07T BAUR Scott Baur founded the Pension Resource Center in 1997 to offer plan administration services to municipal, Chapter 175, Chapter 185, and local law pension plans in the State of Florida. He also founded the Financial Resource Center, which provides benefit consulting services to health and welfare trusts, and investment and estate planning services to individual clients. Scott is widely known as a professional speaker on plan administration, investment, and retirement topics. He has conducted seminars and workshops for both pension trustees and plan participants. Scott Baur graduated from Virginia Tech, where he received degrees in Architecture, Engineering, and Math. He also taught in the College of Architecture at Virginia Tech, and served as the director for a research center funded by a coalition of government agencies. During this time, Scott published numerous papers in academic journals. Scott Baur originally received training on the use and design of pension plans as a representative and trainer for MetLife, where he later participated in the design of MetLife's pension plans for small employee groups. He has since established defined benefit and contribution plans for employees, including profit sharing and money purchase plans, 401(k) plans, tax sheltered annuities, and simplified employee pensions. Scott is member of the National Association of Insurance and Financial Advisors, the Palm Beach Estate Planning Council, the Palm Beach Planned Giving Council, and the Million Dollar Round Table. He serves as both an Elder and Treasurer in his church. He also serves as an advisor or director to a number of charitable organizations in Palm Beach County, including the Children's Home Society of Florida, First Care Crisis Pregnancy Centers, and the Lighthouse Gallery and School of the Arts. He has acted as an advisor to numerous additional organizations regarding planned gifting arrangements and estate planning. He has participated in the Congressional Business Commission and the Business Advisory Council. He has also acted as a court qualified expert witness on insurance and investment matters in Florida. MARGARET M. ADCOCK, ESQ. Margaret M. Adcock joined the Pension Resource Center as President and General Counsel. She also serves as General Counsel for The Financial Resource Center as well. She oversees the administration of our many public pension plans. Margie holds a Juris Doctor Degree and is an active member of The Florida Bar. Prior to joining the Resource Centers, Margie was associated with a labor law firm for over eight years where she provided legal representation almost exclusively in the area of employee benefits law. Her representation primarily focused on public sector and multi - employer pension and health and welfare funds throughout the State of Florida. In her legal representation of such plans, Margie drafted ordinances, plan documents, and contracts; handled Internal Revenue Service, Department of Labor, and other governmental filings; represented trust funds in litigation on all benefit issues and delinquent contributions; and participated in trust meetings and advised fund trustees in all aspects of fund administration. Margie received her Bachelor of Science degree in Business Administration from Marquette University in Milwaukee, Wisconsin, and her Juris Doctor Degree from Saint Louis University School of Law in St. Louis, Missouri. Margie was admitted to The Florida Bar on October 18, 1991, and is a member in good standing. She is also admitted to practice in the United States Court of Appeals for the Eleventh Circuit and the United States District Courts for the Southern and Middle Districts of Florida. She routinely speaks on employee benefit issues at the Florida Public Pension Trustees Association's various conferences. Margie is also a member of the American Bar Association. DENISE MCNEILL Denise M. McNeill joined the Pension Resource Center and the Financial Resource Center as Chief Financial Officer when they were founded in 1997. In addition to handling daily operations of both the Pension Resource Center and the Financial Resource Center, Denise also serves as a Benefit and Plan Administrator for our many public pension plans and employee benefit plans. Denise is known as a professional speaker on retirement topics, benefit administration and business management. Denise joined the Resource Centers after several years in customer service, billing management and finally marketing, with a large international corporation where she received several awards for service excellence. She began her career with pension and benefit administration as an agent with New York Life and a representative of NYLIFE Securities. Denise has an Associates degree in Computer Science. Denise remains active in the community and has previously served as an Ambassador for the Stuart/Martin County Chamber of Commerce, member of Women's Council of Realtors of Stuart/Martin County, volunteer for a local chapter of Habitat for Humanity, PTO Secretary for her daughter's school and teacher of Children's Liturgy for her church. ELLEN SC'HArFER, SOFTWARE CONSULTANT Ms. Schaffer works with the Pension Resource Center on a contract basis. She is a software consultant and programmer specializing in Florida public pensions. She has been working with governmental pension plans for nearly fourteen years and has developed programs to accurately track and value DROP accounts. She also has programs designed to manage employee contributions and calculate participant pensions. The Cities of Boca Raton, Boynton Beach and Fort Lauderdale, in addition to more than a dozen other pension systems, currently use her programs. ED Scorn, CPA Ed Scott, a CPA with extensive consulting experience to human resources departments, oversees the internal controls and procedures for services provided through the Financial Resource Center. Ed Scott has significant and recognized success in specialized and technical financial reporting, corporate accounting, tax reporting, strategic planning, and management information systems. As Controller for Aircraft Service International Inc., an international corporation headquartered in Miami, Ed was responsible for the tracking, documentation and control of up to $44M in annual financial volumes, with management and supervisory oversight of financial reporting. As Controller, he also supervised the administrative support staff of more than 13 people. He was also responsible for formulating annual operating budgets, accounts payable and receivable, payroll, state and federal tax reporting, depreciation schedules, preparation for and execution of audits, and maintenance of mainframe and PC computer information systems. Ed has acted as a Corporate Controller, Assistant Controller, Corporate Treasurer, Accounting Supervisor, Budget Officer, and Staff Training Director and Manager. Ed maintains his designation as a CPA. He received a Chartered Corporate Secretary (ACIS) Degree from the Institute of Chartered Secretaries and Administrators in London, England. He also has a Baccalaureate Degree of Business Administration from the University of Miami. He actively continues his education on current issues; multi -state reporting protocols and guidelines; sales, intangible, property, payroll, and income taxes; and Federal and Sate audit procedures and protocols. .IAME.S W. JAMESON Jim Jameson founded Omega Recordkeeping Group, LLC on July 1, 2005. He purchased the business from Gabriel, Roeder, Smith & Company (GRS). Jim was practice leader of the DC Administration business GRS which he joined in 1998 Experience Mr. Jameson has over thirty-five years of administrative experience, which includes 10 years in a Trust accounting department of a major Chicago Bank. He has also spent 10 years on the corporate side working for two large corporations as Corporate Director of Employee Benefits. He was a founding partner in a benefits consulting group in Chicago responsible for the development of an in house recordkeeping system and operations. Prior to joining GRS, he served as CFO and COO of a benefits administration firm in New York City. Professional Activities Jim is an active member of the SunGard users group. He has held many benefit enrollment presentations for large and small groups of employees. He has conducted training sessions on recordkeeping and was a member of a design overview team for the development of a recordkeeping system for third party software firm. Education Bachelor of Science degree in accounting, Roosevelt University in Chicago. JENNIFER K. DA VES Jennifer K. Daves joined the Omega Recordkeeping Group LLC on July 1, 2005 as the Client Relations Manager. Jennifer oversees the daily operations for Omega Recordkeeping Group and maintains the client relationships on behalf of the firm. Prior to joining the Omega Recordkeeping Group, Ms. Daves began her career at Circle Trust Company to service the Third Party Administrator (TPA) and Retirement Plan marketplace. Ms. Daves provided administrative and operational trade support to TPA relationships for Circle Trust, including custodial and trustee services to 401(k) plans, defined contribution plans, profit sharing plans, and not - for - profit retirement plans. Ms. Daves received a Bachelor of Science degree in International Affairs from Florida State University in Tallahassee, FL. Ms. Daves received her Series 6 License form the National Association of Security Dealers in 2000. BRIAN GIRD1,100I) Brian Girdwood recently joined Omega Recordkeeping Group LLC as the Operations Manager. As the Operations Manager, Brian will oversee the daily recordkeeping functions for the Omega Recordkeeping Group. Prior to joining Omega, Mr. Girdwood held the position as the Data Base Project Manager for Medical Strategic Planning, Inc of New Jersey. His responsibilities at Medical Strategic Planning included the maintenance of a suite of custom software products developed specifically for the medical device industry. The software compiles details for medical device information for nearly 5,000 hospitals in the United States and Canada, over 35,000 different clinical settings, and an additional 1,000 freestanding ambulatory surgical centers. Companies such as Philips Medical, GE Medical Systems, Siemens, OSI Companies, Welch Allyn use the data for research and marketing purposes. Mr. Girdwood also provided project coordination for the companies, the data collection teams, and the software programmers. Mr. Girdwood became responsible for many of the new features and system enhancements requested by clients for the suite of software and data products. Mr. Girdwood also provided hardware and software technical support and training to the clients of Medical Strategic Planning. He has additional expertise in Microsoft Access, Microsoft Excel, Microsoft Visio, Crystal Reports, ACT, Sungard OmniPlus, and the Sungard Pyramid products. Mr. Girdwood has written articles for the BBI newsletter, an investment newsletter on medical devices published by Thompson Publishers. Mr. Girdwood previously spent three years in recordkeeping operations in New York. r1 LJ W A • tl� m U) O 0. O L 0. a O . - to �= cn Q a O ■ W V ca 4) m N ,I, a O 4� t� ■ - O a. 0 O O N V M M M d 'C CC r� 00 O N •y VI M� W LI �1 L A O 00 M i! W 00 M O O M Q O N O M � BENEFITS usa March 17, 2006 TO: BOARD OF TRUSTEES PALM BEACH GARDENS POLICE PENSION FUND RE: PROPOSAL FOR PROFESSIONAL PLAN ADMINISTRATION SERVICES Thank you very much for this opportunity to bring our services to your attention. The principal business of Benefits USA, Inc. is the administration of public pension funds in Florida. Our lengthy background, as well as our current experience in this field, • makes us an unusually well - qualified company to provide your administration services. As you can see from the number of pension Boards that we serve, many Trustees have recognized the abilities and credentials that we bring to the table. This number is growing, and all of our clients are well pleased with our services. C7 We hope that you will find the enclosed information of interest and that we will receive favorable consideration to fill the position of administrator for your plan. Sincerely, i&�� Peter K. Prior, President 38101nverrary Blvd. Ste 208 Lauderhill, FL 33319 954- 730 -2068 fax 954- 730 -0738 0 0 *1 T J M d' to CD I` F- F- F- F- F- F- F- F- F- F- N � •L O cr to V Q 0 C ° a N i _ o o a� a -t cn o a � 2 c _ Q O cL ° U- cn m W cn cn U U a od L ca c 0 0 0 0 0 0 0 O m CL a� cn Q V cn • 0 41 C) C: O O C6 Ca U) � to O � t� � O � O C) � .22 C6 00)0- L N p p 0 p 69- a- U L+- " O cn 0 a) %*- U) 4-a •— O O E Q� cn �••� C/) O co y-- O O 0 O _ O Em.�, � A A w r L 0 • 10-t - -) (D L _(Z- 0 Qi ,C O cu O VJ .O �0 ' O L L Co 1. m O Q) O _E }'� U�•> —+0 CO -I-•, C Eco (3.) 0 O 0 +.� (3) Cl) >,UO> C: -O O c: 0-0 i=ce 0��� 0��� C6 O U i (� E /Oom%� >, C: > E Q) LO Q) m L rQ �v' —_ 00� (n m O Q) Q) O � � 0 E �•� Q) 0 0 U c� }, - Q) (a Q) �N >'0 Q L •U O 0 O O CO E E Q) OMM C: �A > >, 10-t - r_ II�Lr �i .r- -) (D Qi O cu O L .� .O �0 U�•> —+0 Eco Q� 0 Cl) E (U L C: c: 0-0 i=ce 0��� a) Q) >, C: > O Q) m 00� (n m O Q) Q) - Q L c� - Q) (a Q) 0 U) 0 . -� CO E Q) �A > >, E ��•� (B E U • }, L- n a) > m 0 Ca .00 X LLJ O� M 0 O + M CU I-Z 0 r_ II�Lr �i .r- • • _0 OT - 0 T �1 O . 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LL W W Q) O O a- Q) � 0 O -� d -L Q) Q) Q) CL 0 C Q) U U -L 0 - O LL p� _� W Ll�-( W j, �, +1 . -m a_ 06 0 C V) 0 Q) 0 W L �c� Q] Q) O C O L Q) L— od, O O ` C .0 O .0 v U O N L V- U O Q -� U U •'.y O O cn L E U r v= — z - �, a' �, O O C a� •U O W .O � O O O a wmo {.r a) Q Q� (D �--� W O L o ^ U _ c a Q) Q) U Q� •, 1..L (D Q) (40) " o 4,- w w O LL CD C U (6 U LL a- a) — m tn— E m m LU N -q- U)U) O ca Q) Q) Q) O O O O U Q) E E '� 0� OQUUUUU�LLf :T J U) )U) OW 4- O 4- O 4--• O �,- O `+- O\ `a- O 4-- O � O 4- O `F- O `� O - v- O -J:�i2E2 v- O � O � O l,-. O y. O `F- O 4-- O `�- O 4•- O 0 0 L r- C / W ' >, >, i • Lauderhill Police Retirement Svstem February 15, 2006 Lb UOM, nv%. — rian MUMIMstra[or v nup:1fWWWAMF1ems -u 3810 Inverrary Boulevard, Suite 208, Lauderhill, FL 33319 (954) 730 -2068 0 Fax (954) 730 -0738 RE. Benefits USA, Inc. To Whom it May Concern: This letter is to speak on behalf of the plan administrator for the Lauderhill Police Retirement System, Benefits USA, Incorporated. Benefits USA has been the plan administrator for this fund for nearly two years and has shown to be a very competent, responsive and professional administrator to work with. During their service with the plan, Benefits USA has had to integrate various payroll data into an electronic format and carry out myriad of administrative duties for the plan in • addition to clearing up many years of mismanaged files and records. They have done an admirable job of achieving these tasks. Having been on the board for over 10 years, I have had quite a bit of experience dealing with plan administrators and have found Pete Prior and his staff at Benefits to be great to work with. Please contact me if you have any questions. Sincerely: Michael A. Cochran Chairman Lauderhill Police Retirement System L' Ir I HIALEAH POLICE PENSION FUND � February 1, 2000 TO WHOM IT MAY CONCERN: Since engaging Benefits USA, Inc. to administer our pension plan, the Trustees have been relieved of day -to -day service to our members. As the shifts, job assignments and locations of the Board members change from time to time, Benefits USA is always available to our members. The members can contact the administrator by telephone, fax or e-mail whenever they need service. We are satisfied that our records are accurately kept up to date and promptly turned over to our auditors at the end of the fiscal year. Carolyn and Pete have also been very helpful in keeping our asset allocation in line with the investment policy. Their knowledge and experience have helped our Fund operate smoothly. The Board of Trustees does not hesitate to recommend Benefits USA, Inc. as they are tops in their field of pension plan administration. ohn Gerry, Chairman Board of Trustees AL CHAPTER 1186 SHARE PLAN 5555 EA5 "r Bch AVENUE E""'LEAH, EL 33012 54) 730.2068 800) 452 -2454 (954) 7340738 EAX I CITY OF COCOA FIREFIGHTERS' RETIREMENT FUND • do Benefits USA, Inc. (954) 730 -2068 3810 Inverrary Boulevard, Suite 208 (800) 452 -2454 Lauderhill, FL 33319 (954) 730 -0738 Fax Pete Prior —Ext 203 Carolyn Furlong —Ext. 202 October 16, 2002 To Whom It May Concern: Benefits USA has been a lifesaver to our Board of Trustees and especially to me as Chairman. A big burden has been taken off of me, because prior to contracting for their services I was doing most of the administrative work myself. Pete Prior has been very helpful in organizing what needed to be done. Over and above the ongoing business, we needed to amend our Plan and implement a DROP, among • other things. He has worked diligently to achieve our goals. It is my opinion that Benefits USA provides a great service, particularly as the business of Trustees becomes more complex. If you would like to discuss this further, please feel free to page me at (321) 637 -4545 or e -mail me at olsenidletyme(aaol.com. Sincerely, Timothy E. Olsen, Chairman • 9 CITY OF LAUDERDALE LAKES FIREFIGHTERS' RETIREMENT SYSTEM • C� c: do Benefits USA, Inc. (954) 730 -2068 3810 Inverrary Boulevard. Suite 208 (800) 452 -2454 Lauderhill, FL 33319 (954) 730 -0738 FAX October 16, 2002 To Whom It May Concern: Our Trustees initially engaged the services of Benefits USA, Inc. to assist them in the process of making the transition from the Florida Retirement System to a city- sponsored plan. There were a number of steps to accomplish in a very short time. Such steps included creating relationships with the Fund's first investment manager and actuary as well as looking at the existing benefits to determine what changes needed to be made. In coordination with the Plan's attorney, Pete and Carolyn made sure that each milestone in the transition was performed in a professional manner. In the five years since that time, Benefits USA, Inc. has been of assistance in numerous ways. The Board of Trustees has gained a feeling of confidence that things are being done correctly and in the best interests of the participants. We are very happy with their services and are hopeful of a long relationship with Benefits USA. Sincerely, A l 6? Inspector Done Farmer, Chairman Board of Trustees City of Sunrise Firefighters PENSION /RETIREMENT BOARD October 16, 2002 To Whom It May Concern: Benefits USA, Inc. was our first professional administrator. When we contracted for their services in 1997, we found that they gave the Trustees a sense of organization and direction. Their extensive pension background and familiarity with matters of concern to Trustees was an asset to the Fund from the very first month they were on board. It has been very helpful to have the benefit of Pete Prior's longtime background as a Trustee. Most of our Board members have known Pete for many years and can attest to • his interest in public pension funds. Ms. Furlong and Ms. Lopez also have considerable experience in pension fund administration. They have worked on other plans with several of our professional advisors, and we appreciated knowing that the other professionals were familiar with their past performance and approved of the job they have done for other plans. • In addition, Benefits USA has an excellent relationship with our City departments and our membership in general. It is my opinion that Benefits USA provides a great service, particularly as the business of Trustees becomes more complex. If you would like to discuss this further, please feel free to call me at (954) 683 -6836 or e -mail me at FarrellaAbellsouth.net. Sincerely, Lt. George Farrell, Chairman Board of Trustees c/o BENEFITS USA, INC. 3810 Inverrary Boulevard, Suite 208 - Lauderhill, Florida 33319 - Phone (954) 730 -2068 - Fax (954) 730 -0738 ,40E�o • 4T L W 0 � � O 0 0 UU CQ C: �Q C•'-' 0X�a0 C� a 0 — UcnC) C0 �0 �LLUD 0� c� Ups j LOUD }. �s 000 000 E W W L L -o .^, -0 O .O •� .� C -0 pj% C pU 0Q (60 (n\ > }'0Ca cacnC > - 0 V �X •� �1 > L 0 O(Q0�� tnU co cn U ca 4-j L U) �I S � T 0 N 0 C.Q OU 0�cn0�'—U C C C a U-0 C 0 O m C'i QaCO -o aJWcaCD- 0 : 0- ±-� a QmQ0 d- V � � a) "— O -0 E 0- U� p � � UEw -Cca 0. 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This sworn statement is submitted with the response for a request for proposals (RFP) to provide Third Party Administrator services to the Palm Tran /ATU Local 1577 Pension Plan Board of Trustees. 2. This sworn statement is submitted by whose business address is 3 10 T,v ✓e��a 2� �IvS. STe, z,4y and whose Federal Employer Identification Number (FEIN) is: 6-57-p7,?g471 3. 1 understand that a "public entity crime" as defined in §287.133(1)(g), Florida Statutes, means a violation of any state or federal law by a person with respect to and directly related to the transaction of business with any public entity in Florida or with an agency or political subdivision of any other state or with the United States, including, but not limited to, any bid or contract for goods or services to be provided to any public entity or an agency or policy subdivision and involving antitrust, fraud, theft, bribery, collusion, racketeering, conspiracy, or material representation. 4. 1 understand that "convicted" or "conviction" as defined in §287.133(1)(b), Florida Statutes, means a finding of guilt or a conviction of a public entity crime, with or without an adjudication of guilt, in any federal or state trial court of record relating to charges brought by indictment or information after July 1, 1989, as a result of a jury verdict, non jury trial, or entry of a plea of guilty or nolo contendere. 5. 1 understand that "affiliate" as defined in §287.133(1)(a), Florida Statutes, means: A. A predecessor or successor of a person convicted of a public entity crime; or B. An entity under the control of any natural person who is active in the management of the entity and who has been convicted of a public entity crime. The term "affiliate" includes those officers, directors, executives, partners, shareholders, employees, members, and agents, who are active in the management of an affiliate. The ownership by one person of shares constituting a controlling interest in another person, or a pooling of equipment or income among persons when not for fair market value under an arm's length agreement, shall be a prima facie case that one person • controls another person. 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