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Police Officers' and Firefighters' Pension Board <br />September 13, 2001 <br />Page 2 <br />IV. Presentation by Bill Stark - Bogdahn Consulting <br />Mr. Bill Stark, Bogdahan Consulting, presented the performance evaluation report of the <br />investment manager, TRUSCO Capital Management. The report presented at the September 6, <br />2001 meeting was formally accepted by the Board at the make up meeting on September 13, <br />2001. The report is on file and available for inspection with the City Clerk of the City of <br />Casselberry. <br />V. Approval of Expenditure Report <br />MOTION: Moved by Officer Jason McMullen to approve the Expenditure <br />Report dated May 18, 2001 as submitted. Motion was seconded by <br />Mr. Dale Christensen and carried unanimously by voice vote. <br />VI. Approval of Reimbursement of 1% Contribution - Firefighters <br />MOTION: Moved by Officer Jason McMullen to approve the Reimbursement <br />of 1% contribution by the part time firefighters as submitted in letter <br />dated May 18, 2001 by the Finance Director. Motion was seconded by <br />Mr. Dale Christensen and carried unanimously by voice vote. <br />VII. Proposed Ordinance Amending the City's Pension Plan <br />The City Manager asked the Board to defer action on changes in the proposed ordinance <br />presented at the September 6, 2001 meeting. The changes were proposed by the Board Attorney <br />to update the City's plan for parity with the Florida Retirement System Plan. The changes were <br />presented before staff had opportunity to review their actuarial impact. He said the board should <br />look carefully at the cost for implementing the proposed changes and not to just mirror the <br />actions of the Florida Retirement System. <br />The Board requested the City Manager bring back recommendations regarding the proposed <br />changes in the ordinance at the next scheduled quarterly board meeting. <br />MOTION: Moved by to Officer Jason McMullen to defer action on the proposed <br />ordinance for further review by the City Manager and direct the <br />Board Attorney to revise the ordinance to change the member <br />contribution rate from one (1) percent to one-half (1/2) percent; limit <br />prior service buy back to full time police and fire service only in the <br />