09/18/1989 (2)
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TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
September 18, 1989
The City Commission. meeting as the Board of Trustees of
Pension Fund. met in regular session at the City Hall Monday,
at 9:08 A.M., with the following members present:
the Employees
September 18,
Don Winner
Lee Regulski
William Nunamaker
Richard Fitzgerald
Trustee
Trustee
Trustee
Trustee
Absent:
Rita Garvey
Chairperson
Also Present were:
Ron H. Rabun
Milton A. Galbraith, Jr.
Cynthia E. Goudeau
City Manager
City Attorney
City Clerk
ITEM #2 - Minutes:
September 5, 1989 meeting as
unanimously.
Trustee Nunamaker moved to approve the minutes of
submitted. The motion was duly seconded
the
and carried
ITEM #3
Independent Leaal Counsel for Pension Advisorv Committee:
Pursuant to a work session
staff research and respond to
independent legal counsel,
discussion, the
a request from the
Board of Trustees requested
Pension Advisory Committee for
It is the City Manager's recommendation that outside
not be engaged. The use, if any, of independent counsel
only in significant issues of citywide impact. It is also recommended that
ad-hoc outside counsel be recommended by the City Attorney and City Manager
before being retained.
independent counsel
should be considered
such
The City Manager stated it is important to remember that the Board of
Trustees (City Commission) has fiduciary responsibilities for the pension plan
and should not allow outside independent counsel to be hired that might very well
undermine the Trustees overall responsibility to oversee the pension plan.
Pension
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9/18/89
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1989
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The City Manager reiterated it is not staff's recommendation to hire a day
to day outside independent counsel for the Pension Advisory Committee. It is
recommended that. as specific legal needs arise, the Pension Advisory Committee
should approach the Trustees to seek approval for independent legal counsel for
designated cases. These would be viewed as occurring primarily, but not
necessarily exclusively, when the Pension Advisory Committee was called upon to
conduct a hearing with respect to findings of fact, The provision of independent
legal counsel in such instances would be limited to a specific case and for a
specific purpose.
H.M. Laursen, Personnel Director, has submitted to the Commission a memo
which outlines the Committee's request as well as providing pros and cons of
providing the outside counsel. He stated should the Commission decide to hire
outside counsel on a day to day basis, the cost could be excessive.
John Nicholson, Chairman of the Pension Advisory Committee, stated the
Committee also has fiduciary responsibility, He stated the cost would be
minimal, and there is some concern regarding the objectivity of the City
Attorney, as he works for the City Commission. He stated the State Retirement
Commission has independent counsel and the Pension Advisory Committee is not
unlike that commission.
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Discussion ensued regarding the need for independent counsel, and concerns
were expressed that this would create a more adverse relationship between the
Pension Advisory Committee and the Board of Trustees.
Questions also arose regarding whose decision it would be to hire outside
counsel when needed. The City Manager stated when outside counsel is needed,
staff would make a recommendation to the Trustees for their approval.
Further discussion ensued regarding the need for outside counsel. and Mr.,
Nicholson stated they felt that some of the legal advice provided by the
Attorney's Office had been biased and probably wrong.
It was stated that providing this outside counsel would create more
conflicts and make the pension system less effective.
, Trustee Regulski moved to acce~t staff's recommendation that ongoing
outslde counsel for the PAC not be hlred, however, they be retained when needed.
The motion was duly seconded. Upon the vote being taken, Trustees Regulski,
Nunamaker and Fitzgerald voted lIayell. Trustee Winner voted IInay". Motion
carried~
Discussion ensued regarding proposed changes to the pension plan. and it
was stated that staff is still investigating a possibility of entering into a
plan with ICMA. He stated he will be working with the Pension Advisory Committee
regarding these changes.
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Pension
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9/18/89
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AGENDA
Board of Trustees of the Employees' Pension Fund
September 18, 1989
9:00 A.M.
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l- Call to order 1- 9:08 A.M.
2. Approval of Minutes 2. Approved as submitted
of September 5. 1989
3, Independent Legal Counsel for 3. Staff recommendation adopted
Pension Advisory Committee
4, Other Business 4. None
5, Adjournment 5. 9:44 A.M.
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