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Police Officers'/Firefighters' Pension Board of Trustees June 3, 2002 Page 3 VII. Approval of Agreement for Investment Management and Custodial Services TRUSCO Capital Management. Inc. and Sun Trust Bank MOTION: Moved by Mr. Hank Giffen to approve the Agreement for Investment Management and Custodial Services with TRUSCO Capital Management, Inc. and Sun Trust Bank and authorize the Chairman and Secretary to execute the Agreement. The Motion was seconded by Firefighter Theresa Krebs and carried unanimously by voice vote. VIII. Approval of Revised Administrative Forms MOTION: Moved by Mr. Giffin to approve the Revised Administrative Forms submitted by the Board Attorney. The Motion was seconded by Firefighter Theresa Krebs and carried unanimously by voice vote. IX. Approval of Return of Contributions by Terminated Employees of the Plan MOTION: Moved by Mr. Hank Giffen to approve the Return of Contribution for terminated employees. Motion was seconded by Firefighter Theresa Krebs and carried unanimously by voice vote. X. Approval of Expenditure Report MOTION: Moved by Firefighter Theresa Krebs to approve the Expenditure Report as presented by Jeffrey Dreier, Finance Director. Motion was seconded by Mr. Hank Giffen and carried unanimously by voice vote. XI. Attorney's Report Mr. Scott Christiansen stated that Financial Disclosure forms were due by September 1, 2002. Mr. Christiansen discussed the issue regarding State money the City receives as a result of participation in Chapters 175 and 185. The state has mandated that any additional premium tax money has to be used to provide extra benefits for Police Officers' and Firefighters'. At the last Trustee meeting, the Board asked the Actuary to advise the Board if they were properly using the funds. In a letter dated April 2, 2002, Mr. Foster advised that the benefits paid to Police and Fire employees by the City were greater than those paid to general employees.