Title
Retirement Board Meeting of September 28, 2017.
Body
SUMMARY OF MEETING
1. Roll call.
2. Consent Agenda.
All items listed within this section entitled "Consent Agenda" are considered to be self-explanatory and are not expected to require additional review or discussion, unless a member of the Retirement Board or a citizen so requests, in which case, the item will be removed from the Consent Agenda and considered along with the regular order of business. Hearing no objections to the items listed under the "Consent Agenda", a vote on the adoption of the Consent Agenda will be taken.
2A. The Administrative Manager recommends approval of the Retirement Board meeting minutes for August 10, 2017
2B. The Administrative Manager recommends approval of the Report of the Administrative Manager.
2C. The Administrative Manager recommends approval of the following Retirement Benefit Certifications:
a. DROP Benefits: Robert Boberman (General/Excluded), John Kevin Ray (General/Teamster), Thaddeus Ovcarich (Firefighter), Thomas Groome (General/Teamster), Victor Alpizar (Firefighter), Terence Bowman (General/Teamster), Beth Ann Donovan Schultz (Police Officer), Rober Wheeler (Police Officer) and James Banks, Jr. (Police Officer).
b. Vested Rights Benefits: Scot Bolyard (General/Excluded).
2D. The Administrative Manager recommends approval for the following invoice:
1. AndCo Consulting invoice #23167 for investment consulting services for quarter ending September 30, 2017 in the amount of $36,250.00.
2E. The Administrative Manager recommends approval of the following applications for purchase of other public employer service:
2. Daniel Sotolongo of the Police Department requesting to buy back 616 days (1 year, 8 months, 8 days) of Other Public Employer Service time.
3. Carlo Milito of the Police Department requesting to buy back 649 days (1 year, 9 months and 8 days) of Other Public Employer Service time.
4. Ramon Trias of the Development Services - Planning and Zoning Division requesting to buy back 1,615 days (4 years, 5 months) of Other Public Employer Service time.
2F. The Administrative Manager recommends approval of the Independent Medical Exam of disability retiree Eugenio Arencibia (Police Officer). It is the opinion of Dr. Grossman that that Mr. Arencibia continues to be unable to perform his duties as a Police Officer and should continue disability status.
3. Comments from Retirement Board Chairperson.
4. Items from the Board attorney.
1. Update on future rental for office space
2. Update on COLA Settlement
5. Attendance of Northern Trust Asset Relationship Manager, Claudiu Besoaga and Securities Lending Relationship Manager, Jivko Chiderov, reviewing Northern Trust products provided to the Retirement System.
6. Review and discussion of the proposals for death audit service providers Pension Benefit Information Inc. and The Berwyn Group.
7. The Administrative Manager recommends approval of the BDO audit and engagement letters for the year ending September 30, 2017 audit allowing payment of retainer fee in the amount of $4,960.00 (20% of $24,800.00) to be paid prior to commencement of preliminary work.
8. Continuation of discussion regarding the cost of living assumption.
9. Investment Issues.
10. Old Business.
11. New Business.
12. Public Comment.
13. Adjournment.
The next scheduled regular Retirement Board meeting is set for Thursday, October 12, 2017 at 8:00 a.m. located at the Coral Gables Youth Center Theater/Auditorium, 405 University Drive, Coral Gables, FL.