Title
Retirement Board Meeting of May 10, 2007
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SUMMARY OF MEETING:
1. Roll call.
2. The minutes of April 12, 2007 were approved.
3. The Board Attorney Alan Greenfield updated the Board on current pending items.
4. The Administrative Manager's Report was reviewed and accepted.
5. The Board approved the following applications for Retirement and DROP benefits:
Retirement Benefits:
Retirement application of Lou Davis of the Public Works Department, 25 years, Option 2B-100%, effective May 1, 2007.
DROP Benefits:
DROP application of Joseph McNichol of the Police Department. Effective date May 1, 2007.
6. The Board discussed and accepted a letter from Randall Stanley of Stanley Holcombe and Associates to Donald G. Nelson, Finance Director, regarding the actuarial cost calculation estimate for a COLA provision for the firefighters' as requested in a letter dated March 29, 2007 and the proposed multiplier increase for police and firefighters as requested by telephone on March 23, 2007.
7. The Board discussed a letter from Ronald J. Cohen, Esq., regarding the Coral Gables Police Officers' Retirement Trust Fund claim for damages due to the delay of receipt of moneys from the State of Florida.
8. For the Board's informational purposes a copy of the City Beautiful e-News giving the latest news and information about the City of Coral Gables included in their package.
9. Investment Issues were discussed.
10. Old Business was discussed.
11. New Business was discussed.