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PolicelFire Pension Board Meeting <br />November 17, 2009 <br />Page 3 <br />the letter dated August 10, 2009 from the Finance Director. Motion was <br />seconded by William Nas and carnied unanimously on a 5 — 0 voice vote. <br />111111 Kil <br />mm 1 -1 1 11-11, I'll "I I t I Iff <br />State excise tax distributions went down in 2009 com pared to 2008 due to forces in th <br />economy. The frozen portion that funds currently defined benefits will not be affecte <br />There will be less excess contribution to add to the Excess State Monies Reserve. I <br />It is time for the Plan Summary to be updated but pending benefit enhancements would <br />affect it. <br />The City has referred the ordinances for the Share Plan, DROP plan and other <br />modifications to an outside attorney, Jim Linn, for review. It is expected that the <br />ordinances will be forwarded to the City Commission during the next quarter. <br />1,11me'MMA <br />D ON -- <br />The next Pension Board Meeting is Tuesday, November 17, 2009 <br />11. Adjournment <br />The Chairman adjourned the meeting at 11:04 a.m. <br />