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HomeMy WebLinkAbout2002 05 28 Consent Item A 't . 1 . CITY OF WINTER SPRINGS MINUTES BOARD OF' TRUSTEES - PENSION PLAN REGULAR MEETING JANUARY 29,2002 I. CALL TO ORDER The Board of Trustees - Pension Plan Regular Meeting was called to order by Chairman Robert Nippes, on Tuesday, January 29, 2002 at 7:53 p.m. in the West Conference Room of the Municipal Building (City Hall, 1126 East State Road 434, Winter Springs, Florida 32708). Roll Call: Chairman Robert Nippes, present Vice Chairman Vemon Rozelle, present Board Member Vincent Giannoni, absent Board Member Mark Queen, absent Board Member Mark Sardo, present II. CONSENT CONSENT A. Approval Of The October 30, 2001 Regular Meeting Minutes. Chairman Nippes requested a Motion to approve the Minutes. MOTION BY VICE CHAIRMAN ROZELLE. "SO MOVED." SECONDED BY BOARD MEMBER SARDO. DISCUSSION. WITH CONSENSUS OF THE BOARD, THE MOTION WAS APPROVED. MOTION CARRIED. III. REGULAR AGENDA REGULAR A. Election Of Officers. MOTION BY BOARD MEMBER SARDO. "I WOULD LIKE TO NOMINATE - MR. NIPPES FOR THE POSITION THAT HE HOLDS." SECONDED BY VICE CHAIRMAN ROZELLE. DISCUSSION. WITH CONSENSUS OF THE BOARD, THE MOTION WAS APPROVED. MOTION CARRlED. CITY OF WINTER SPRINGS MINUTES BOARD OF TRUSTEES - PENSION PLAN REGULAR MEETING - JANUARY 29. 2002 PAGE 2 OF 3 MOTION BY BOARD MEMnER SARDO. "I WOULD LIKE TO NOMINATE VERNON ROZELLE FOR VICE CHAIRMAN." SECONDED BY CHAIRMAN NIPPES. DISCUSSION. WITH CONSENSUS OF THE BOARD, THE MOTION WAS APPROVED. MOTION CARRIED. B. Review Of Trustco Capital Management Financial Statements With Representative Mr. Tim Nash. Mr. Gene DeMarie, General Services Department Director informed the Board that a representative from Trustco Capital Management was unable to attend this Meeting. The Board discussed that the portfolio had a rate of 2.22% in the year 2001 and with a "Rebound" in the last three (3) months; and the equity market return for last year being strong. Chairman Nippes suggested that Board Members direct any questions to Mr. Nash regarding the report. The Board requested that Staff redistribute Trustco Capital Management's report of the internal costs of the plan. C. Plan Documents. Mr. DeMarie explained the process for the Plan Document to be adopted by the City Commission. MOTION BY VICE CHIRMAN ROZELLE. "I READ THEM AND ACCEPT THEM AND DIRECT STAFF TO BRING RESOLUTIONS AS PREPARED BY THE PENSION ATTORNEY BJEFORE THE CITY COMMISSION FOR FINAL APPROVAL." SECONDED BY BOARD MEMBER SARDO. DISCUSSION. WITH CONSENSUS OF THE BOARD, THE MOTION WAS APPROVED. MOTION CARRIED. IV. FUTURE AGENDA ITEMS · Review The RFP ("Request For Proposal") For An Investment Manager. V. REPORTS Board Members discussed receiving the financial report prior to the Meetings. With discussion, Mr. DeMarie summarized by saying that, "The Board has requested that Mr. .. , . .. CITY OF WINTER SPRINGS MINUTES BOARD OF TRUSTEES - PENSION PLAN REGULAR MEETING - JANUARY 29, 2002 PAGE 3 OF 3 Nash email and/or mail to the Board's Secretary an executive summary of what Mr. Nash will present at the next Board Meeting and he should do this at a minimum of ten (10) business days prior to the Board Meeting." Vice Chairman Vernon Rozelle said, "Section II is the one that we need." Board Member Mark Sardo and Chairman Nippes agreed. The Board Members in attendance stated that they preferred that the report be emailed and submitted their addresses to the Deputy City Clerk. Board Members requested the Deputy City Clerk to research the possibility of having the Board Meetings moved to Wednesday or Thursday at 6:30 p.m. VI. ADJOURNMENT MOTION BY BOARD MEMBER SARDO. "I'LL MOVE THAT WE ADJOURN." SECONDED BY VICE CHAIRMAN ROZELLE. DISCUSSION. WITH CONSENSUS OF THE BOARIJI, THE MOTION WAS APPROVED. MOTION CARRIED. Chairman Nippes adjourned the Meeting at 8:14 p.m. RESPECTFULLY SUBMITTED: ~~ DEPUTY CITY CLERK S:\dept- City Clerk\BOARDS\TRUSTEES\aIlI\MINUTES\2002\012902 REGULAR.doc NOTE: These Minutes were approved at the May 28, 2002 Board of Trustees-Pension Plan Meeting.