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Proceedings of Pension Advisory Committee Meeting held April 3. 1985.
Present: Claude Zukowski, Chairman
Charles Dunn. Member
Nancy Degner, City Nurse
Cindy Henning, Personnel Department
. Jane Craig. " "
Anthony Wilhelmi. CWA Representative
Dan Deignan. Finance Department
Absent: Jay Love, Member
Carole Greiner. Finance Department
H. M. Laursen. Personnel Department
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Chairman Zukowski called meeting to order.
Charles Dunn moved the minutes of March 20. 1985 be approved. Seconded by
Claude Zukowski and motion carried.
Claude Zukowski moved the minutes of March 6, 1985 be approved. Seconded by
Charles Dunn and motion carried.
Dan Deignan, Finance Director passed out a memo showing proposals for actuarial
services for both the General Employees' Pension Fund and the Fireman's Pension Fund
as of January 1, 1985. He stated he planned to recommend to the Trustees that the
contract be awarded to Ron Hirsch & Associates. Mr. Hirsch was formerly with the
Wyatt Company. and in that capacity he was primarily responsible for all recent City
Actuarial Studies. Mr. Deignan also advised the Committee that the Firefighter's
Pension Fund Board of Trustees voted to award their contract to Ron Hirsch &
Associates on March 26, 1985.
The recommendation to the Trustees will be made with the Advisory Committee's approval.
Chairman asked Mr. Deignan if he would ask Mr. Hirsch to work with the Committee on
the re-writing of the Pension Plan. Mr. Weimer has stated that he would like to have
an actuary work on the Pension Plan. Mr. Deignan stated he was sure that Mr. Hirsch
would be willing to do this for a fee. He will check with Mr. Hirsch regarding the
fee.
Mr. Deignan will prepare an Agenda Item backed up by the memo. for the next Commission
Meetin~. He is also going to ask the Trustees for approval of request for proposals
for new Custodial Services far the Pension Plan. Have had a great deal of difficulty
with current Custodian which is NCNB in Tampa. It was formerly Exchange Bank of Tampa.
Mr. Deignan stated he would like to clarify a point regarding the Pension Advisory
Committee's involvement in choosing Actuarial Services and Custodians for the Pension
Plan. In reading the Ordinance, it says that the Advisory Committee is to advise
the Trustees on matters relating to employees' eligibility for pension and it specifi-
cally does not include any of the investment type decisions. It leaves the Trustees
that responsibility and appoints the Finance Director for the fund reporting directly
to the T~ustees. He stated he would like to inform the Advisory Committee as to all
decisions that we are 'recommending the Trustees make involving investments.
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Mr. Deignan also asked if he could meet with money managers when they come to town and
there is not sufficient time to notify committee members. Chairman stated that if
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April 3. 1985.
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1ft." '. Pension Advis ry C -it tee Meeting
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~~fY'(:::;:,,:"" the committee members cannot make the meeting. it is the Finance Director's job to keep
:u,~N~~',:-<\" ,the committee informed. Chairman Zukowski said he would like the yearly report scheduled
W(;~;~,y,;,} ,',in time for the Pension Advisory Committee to be there. Finance Director will try to set
'Ii&::,'::,<::~':/':: ' 'up' meeting sometime. the first part, of May for money managers to come into town.
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%tfffi',':;( Chairman stated there wer~' a number of physicals ,for which cover letters are needed.
1r.,;;i:\):,.:I, ,After discussion. it was decided to postpone this matter until the next meeting.
%JlU:-/)';::: ,Chairman will ,get Mr.' Weimer. Mr. Ellis. and Mr. Laursen together in a meeting and
:ll/i<;.,,:'..' have the matter settled by next meeting.
~lt~~~j;.';.,../ co' ntact Robert Noonan-'to see whether he is to continue his. request
10\'" ... ',., ' pha;lrma~ Zukowski, will
Mtl:!'2', '~:~:i~~~~l~:~::~~~~ or go back to work. This mstter is tabled until the Committee
i~{W/t.;,> Chairman', asked Charles Dunn if he had heard anything on the nominating committee.
~\\!,~:I;;;::,;,";'; Mr. Dunn advised no committee has been established yet.
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t~);{i!",:'}'!" (: . Secret~ry,& ,reonne Director
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