►
Description
No description was provided for this meeting.
If this is YOUR meeting, an easy way to fix this is to add a description to your video, wherever mtngs.io found it (probably YouTube).
A
C
Jeremy
language
and
the
League
of
Cities
is
usually
here.
However,
he
could
not
make
this
meeting
so
I'll
go
ahead
and
just
kind
of
go
over
the
highlights
of
the
report
for
the
quarter.
The
quarter
began
with
the
balance
is
6.8
million.
We
received,
we
brought
in
one
hundred
forty
five
thousand
dollars
for
the
contributions
earnings
totaled
about
44,000
and
the
distributions
are
typical.
C
You
know
the
schedule
distributions
for
about
thirteen
thousand
six
hundred
and
seventy
one
dollars
plan
expenses,
total
of
seven
thousand
dollars
and
sixty
seven
thousand
sixty
six
dollars
with
ending
balance
for
the
plan
is
seven
million,
twelve
seven
million
twelve
thousand
two
hundred
twenty
eight
dollars
and
seventy
nine
cents
for
the
year.
However,
we
started
out
with
about
six
point:
four
million.
We
had
contributions
coming
into
the
plan
on
a
cash
basis
about
three
hundred
and
forty
three
thousand
sixty
four
thousand,
which
were
actually
for
the
prior
year.
C
Forty
thousand
two
hundred
thirty
one
dollars
with
the
ending
plan,
balance
of
seven
million
twelve
thousand
two
hundred
and
twenty
nine
dollars
so
I
had
about
the
investment
returns
were
up
about
five
point
four
percent
over
the
fiscal
year
and
if
we
look
at
the
calendar
year
today,
it
is
about
fourteen
point,
seven
six.
Additionally,
in
the
statement
that
are
attached,
this
is
a
little
bit
short
of
our
soon
return
rate
of
seven
percent.
However,
this
shouldn't
have
our
contribution
rate,
because
a
long
term
perspective.
C
Contribution
rate
in
a
corner
of
the
year
there's
this
is
from
Jeremy.
There
were
a
lot
of
the
news
was
the
same
with
train
tensions
that
dominated
the
headlines
and
also
dominated
as
a
main
market
mover.
This
is
one
of
the
most
volatile
years
that
we
had
seen
in
many
years.
The
Fed
rate
cuts
did
help
to
continue
economic
and
market
growth
for
the
quarter.
C
C
C
The
budget
report-
this
is
just
showing
how
we
did
according
to
the
comparison
with
our
administrative
budget,
that's
adopted
the
statutory
requirement.
I
came
in
so
much
as
expected
about
forty
thousand
two
hundred
and
thirty
one
dollars
total.
We
didn't
have
any
categories
that
exceeded
the
budget,
so.
C
D
Is
kind
of
the
the
legislature
imposed
an
additional
disclosure
requirement
I
saw
three
years
ago
now
at
this
point
yeah.
So
first
is
you
had
to
adopt
the
proposed
budget,
which
essentially,
is
you
know
the
pension
board
telling
the
public?
This
is
what
we
think
we're
gonna
spend
next
fiscal
year
and
then
the
book
end
of
that
is
what
you
have
here
is
the
final
accounting
right,
so
you
kind
of
have
both
pieces.
D
This
is
what
we
think
we're
gonna
spend
during
the
year
and
then
at
the
end
of
the
fiscal
year
we
published
it
were
disclosed.
This
is
what
we
actually
spent,
so
you
have
that
here,
it's
forty
thousand
to
thirty
one
or
your
actual
expenses.
So
just
if
the
board
is
comfortable
with
that
and
then
the
motion
would
be
in
order
to
approve
the
the
final
accounting
and
then
they
say
you
can
go
ahead
and
post
that
as
part
of
it
as
part
of
its
disclosures.
B
C
A
D
D
A
A
C
This
invoice
is
for
the
letter
that
was
included
in
the
previous
agenda
and
it
is
something
that's
required
to
be
prepared
and
it
just
documents
the
fact
that
the
statutory
cancer
presumption
bill
did
not.
They
do
not
expect
it
to
have
an
effect
on
our
contribution
rates.
The
question
why
you
know
because
some
other
the
plans
had
experienced
different
results,
and
it
was
mostly
due
to
the
demographics
of
our
population
yeah.
We
have
a
pretty
young
overall,
a
young
population
on
the
plan.
So
that's
was
you
know
their
actuaries,
just
determined
that.
D
The
new
cancer
presumption
it
really
and
some
some
actuaries
have
have
quantified
it
with
a
very,
very
small
impact.
So
you
know
I
think
it's
a
point.
Oh
two
percent
of
payroll.
Ultimately-
and
it's
really
just
because
they're
they're
trying
to
be
overly
conservative
really
and
build
in
some
sort
of
cost
impact,
but
presumably
there's
not
going
to
be
a
the
only
impact
to
the
plan.
It's
not
as
though
there's
going
to
be
more
disabilities.
D
It's
really
only
the
difference
between
you
know
the
Delta
between
a
service-connected
disability
and
a
nonservice-connected
disability,
so
a
service-connected
disability,
a
lot
of
do.
Disability
has
a
bit
of
a
higher
benefit.
So
it's
really
just
the
Delta
between
those
two
forms
of
benefit
which
is
fairly
negligible.
D
So
just
kind
of
and
I'm
I
know
me
smart
enough
to
be
the
actuary
to
figure
this
out,
but
just
for
my
conversation
with
them
they're
just
trying
to
build
in
they
don't
have
enough
data
to
really
know
if
they
have
to
change
the
assumptions,
because
they
say
well
now
because
of
this
new
presumption,
we're
getting
more
disability
applications
and
we
would
have
otherwise
so
they're.
Just
then
and
they're
really
the
only
way
they're
gonna
be
able
to
know
that
to
a
statistically
relevant
form
is
to
actually
have
a
couple
years
of
experience.
D
So
they'll
know
in
five
years.
Okay,
we've
had
an
increase
in
disabilities.
We've
had
a
decrease
in
disabilities,
whatever
the
case
may
be.
So
then,
at
that
point
they
can
really
evaluate
whether
or
not
they
should
be
changing
their
assumption
for
incidents
of
disability,
but
from
now
till
then
they
figure
just
building
in
a
minor
cushion.
It's
only
gonna.
It's
only
gonna
help
ultimately
to
to
the
benefit
of
the
plan
anyway
and
and
to
the
sponsor,
so
that
it
is
not
potentially
a
huge
shot
in
the
arm.
D
C
A
C
We
discussed
at
the
last
meeting
mr.
Hill
attended
the
firefighter
pension
trustee
conference
in
Orlando
on
October
29
through
October
31st,
total
expenses,
including
the
hotel
stay
and
all
the
meals
were
551
dollars
and
35
cents.
According
to
our
the
firefighter
pension
boards.
Travel
policy
chairman
chairperson,
Rene
Neiman,
was
has
approved
these
expenses
and
they
have
been
paid.
So
these
this
is
being
presented
for
the
board's
approval.
It
has
been
paper
so.
C
B
D
Real
there's
no
real
we've
talked
about
it,
there's
no
real
hard
and
fast
rule.
The
statute
is
fairly
ambiguous
in
the
sense
that
it
just
requires
continuing
education,
but
it
doesn't
specify
who
what
when,
where
how
so
you
know
generally-
and
so
this
is
all
under
the
kind
of
umbrella
of
your
fiduciary
responsibilities
to
the
plan,
so
it
it's
really
left
to
the
boards
kind
of
discretion
as
to
what
the
new
education
requirement
means.
B
Would
think
that
you
know
a
minimum
of
every
two
years
would
probably
be
adequate
because
it
is
usually
you
know
repetitive,
on
right
the
following
year
here
before
so
a
lot
of
you
know
repeat
information,
but
some
new
that's
worth
going
to
you.
I'd
recommend
people
should
go
at
least
every
couple
of
years.
B
B
D
A
B
A
C
B
D
B
D
D
D
Along
those
same
along
that
same
thought
process,
so
this
is
kind
of
my
annual
primer,
this,
this
being
the
holiday
season.
The
gift-giving
season.
I
did
just
want
to
take
this
opportunity
to
remind
you
of
your
obligations
under
the
state
ethics
rules.
Since,
by
virtue
of
your
service
on
this
board,
you
are
technically
considered
a
public
official
and
therefore
subject
to
state
ethics
laws.
D
D
There
is
no
reporting
requirement
on
your
end
as
the
recipient,
and
you
can.
You
can
accept
the
gift
if
the
gift
is
valid
at
$100
or
more,
you
should
reject
the
gift
or
donate
the
gift,
and
you
should
also
disclose
it
to
the
to
the
state
Ethics
Commission.
That
makes
everybody
okay.
That
being
said,
we
do
have
our
holiday
gifts
that
we
do
give
to
our
tour
trustees
to
our
clients.
They
are
valued
at
less
than
$25,
so
we
will
not
be
reporting
it.
You
do
not
have
to
report
it
either.
D
It's
tough
to
find
a
gift
under
25
bucks.
It's
actually
meaningful,
so
we
try
and
go
practical
over
over
substance.
So
it's
it's
a
it's
a
golf
sized
umbrella,
but
it's
kind
of
a
smaller
handle.
So
it's
not
as
cumbersome
as
it's
big.
It's
a
it
works.
Well,
so
I
have
those
in
the
back
just
want
me
to
give
them
to
you
before
it
every
time
I
walk
in
with
that
huge
bag
into
one
of
these
places,
I
always
get
worried.
I'm
gonna
get
tackled
with
them.
D
Legislatively
session
this
year
does
start
sooner,
it
starts
in
January,
I
haven't
you
know.
Obviously
it's
a
little
bit
early
still,
usually
bills
will
start
kind
of
making
their
way.
Now
after
Thanksgiving
break
they'll
start
getting
pre-filed
I
haven't
really
heard
of
anything
through
the
rumor
mill
or
great
fun.
Any
kind
of
legislation
that
would
that
would
affect
public
pensions.
Just
giving
my
opinion
is
a
good
thing,
so
it
seems
as
though
we
may
make
it
out
this
year,
kind
of
unscathed,
but
obviously
bye-bye
your
March
meeting
will
have.
D
It
will
have
a
really
good
idea
as
to
as
to
what,
if
anything
is
there
we
can
report,
but
as
of
now,
the
only
thing
that
I've
really
heard
of-
and
it's
just
rumblings
I
haven't
I,
don't
think
it's
gonna
go
anywhere
is,
if
you
guys
recall
that
so
the
firefighter
cancer
presumption
bill.
That
was
just
an
actor
last
year
that
had
been
in
the
works.
Now
that
had
been
in
the
works,
probably
for
about
nine
years
or
so,
but
really
in
the
last
two
or
three
years.
D
Something
happened
where
the
correctional
officers
got
removed
from
from
the
language
in
the
bill,
and
so
the
police
officer
unions
I
forget
if
it
was
the
PBA
or
the
or
the
FOP,
but
whoever
whatever
labor
body
was
kind
of
the
the
strongest
proponent
of
it
really
pulled
their
support
once
the
correctional
officers
got
removed.
So
then,
therefore
the
cops
got
removed
also,
so
the
only
thing
I've
heard
is
that
the
police
officers
may
be
reintroducing
that
for
for
the
police
officers
and
the
correctional
officers,
but
again
it
wouldn't
affect
us,
but
just
more
informational.
A
D
Yes,
educational
opportunities,
the
FP
PTA
has
their
conference
coming
up
in
cinah
Orlando
its
January
26th
through
the
29th,
that's
their
their
winter
school
again.
If
anybody
has
a
chance
to
go,
it's
it's.
You
know
it's
a
good
conference,
so
it's
very
well
attended.
It's
usually
about
five
or
six
hundred
trustees
who
are
kind
of
in
your
same
position.
D
So
it's
a
good
opportunity
to
maybe
you
know
just
pick
their
brain
and
see
what's
working,
what's
not
what
maybe
they're
running
into
issues
that
that
we
are
or
are
not,
but
possibly
we
may
so
if
anybody's
interested
in
going.
Obviously
you
should
you
can
look
into
that
I,
don't
know
how
do
we
make
arrangements
ourselves
and
meaning
you
guys
make
it
yourself
and
then
you
get
reimbursed
or
so?
If
anybody
needs
any
information
I'm,
you
know
I'm
happy
to
send
you
guys
the
links
or
whatever
it
is.
D
D
D
D
Another
opportunity
there's
a
small
registration
fee
for
that
one
I
think
it's
$175,
it's
not
very
much.
But
but
again
it's
you
know:
ash
Williams
who's
in
charge
of
the
state
board
of
administration.
He
usually
does
a
presentation.
He
does
a
very
good
job,
he's
a
bright
guy
and
then
obviously,
if
I
didn't
happen
legislatively
you
know
it's
a
good
opportunity
to
kind
of
get
it
from
the
horse's
mouth
forever.
Really.
B
D
So
the
fpb
ta
has
a
lot
more
topics
that
it
covers.
It
kind
of
you
know
drills
down
into
a
lot
more
specific,
so
it'll
it
has
courses
really
on
them.
Probably
anything
you
want.
It'll
have
courses
on
just
fixed
income
or
it'll,
have
courses,
private
equity
or
specific
actuarial
assumptions,
and
things
like
that,
whereas
the
the
the
school
in
Tallahassee
its
its
broader
strokes
in
terms
of
the
the
actual
you
know,
presentation
courses,
there's
not
as
much
it's
not
much
variety.
D
If
you
will
and
then
also
just
attendance
wise,
the
school
that
the
state
puts
on
it's,
usually
150
or
so
maybe
120-
that's
trustees,
whereas
obviously
you
know
the
FPV
TA
you're,
just
it's
500
or
600
folks.
There
aren't,
you
know
the
FP
PTA
I,
don't
know
if
you
saw
it,
there's
usually
kind
of
a
I
forget
what
they
call
it,
but
where
all
the
vendors
have
a
Hall
and
they
kinda
exhibit.
You
know,
booths
and
things
like
that
and
they're.
D
Giving
out
you
know
little
promotional
materials
and
the
state
school
doesn't
have
that
it
doesn't
have
any
kind
of
you
know,
advertising
so
I'm
a
speaker
at
the
state
school,
and
you
know
we
can't
we
don't
even
put
our
you
can't.
Even
put
you
know
the
name
of
your
firm
on
the
letterhead
I
mean
obviously
they'll.
Have
it
as
that's
your
title,
but
in
any
materials
that
you
hand
out,
they
don't
want
any
kind
of
promotional
aspect
to
it.
So
it's
it's
a
lot
more
scholarly
I,
don't
know.