Title
Retirement Board Meeting of September 10, 2009
Body
SUMMARY OF MEETING
1. Roll call.
2. The Board approved the meeting minutes for August 13, 2009.
3. The Board approved the Executive Summary minutes for August 13, 2009.
4. The Board Attorney Alan Greenfield updated the Board on current pending items.
5. The Administrative Manager’s Report was reviewed and accepted.
6. The Board approved the following applications for Retirement, DROP, and Buy Back of Other Public Employer Service time:
Retirement Benefits:
Retirement application of Norma Dieppa of the Police Department, 22 years, No Option, effective September 1, 2009.
DROP Benefits:
DROP application of Paul Arro of the Cable TV Division of the City Manager’s Office. Effective date September 1, 2009.
DROP application of Olga L. Garcia of the Finance Department. Effective date October 1, 2009.
DROP application of Alina Suarez-Garcia of the Communications Division of the Police Department. Effective date October 1, 2009.
Buy Back of Prior City time, Other Public Employer Service, Military Service Time:
Application of Walter Foeman, City Clerk, requesting to buy back 224 days (7 months, 11 days) of Other Public Employer Service Time with Broward County (Florida Retirement System).
7. The following invoice was approved for payment:
Crain Communications invoice #260189 dated August 24, 2009 for advertisement in Pensions and Investments publication for the Request for Proposal for Independent Auditor in the amount of $1,155.00.
8. Investment Issues were discussed.
9. Old Business was discussed.
Mr. Space wanted the following information highlighted for the City Commission:
Mr. Space pointed out that the increase in the City’s contribution didn’t happen in the last two years. It was a combination of things that happened since 1992. There was a huge amount of overtime that started in 1992 and it kept on into 2000. In addition to that there were two market crashes. The whole si...
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