HomeMy WebLinkAbout08-06-2025 MinutesCITY OF OCOEE
MUNICIPAL GENERAL EMPLOYEES' RETIREMENT TRUST FUND
BOARD OF TRUSTEES QUARTERLY MEETING MINUTES
City Hall, Commission Chamb-
a a Avenue, Ocoee, FL 34761
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TRUSTEES PRESENT.- GeqUita "Gee" Cowan, Chair
Steven Sanders, Vice Chair
Patricia "Pat'Gleason, Secreta
Gary Gleason
Shannon Hopper
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OTHERS PRESENT: Pedro Herrera, Sugarman, Susskind, Braswell & Herrera
David Robinson, Sugarman, Susskind, Braswell & Herrera
Tiffany Fair, Foster & Foster
Ferrell Jenne, Foster & Foster
Brad Hess, Mariner institutional
Yadira Santiago, City of Ocoee
1 - Call to Order — Tiffany Fair called the meeting to order at 1 O:OOAM and a quorum was
determined.
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a. Upcoming Trustee term expirations
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i. Tiffany Fair commented Gary Gleason's member -elected, and Steven
Sanders' city appointed terms end September 30, 2025. Both Gary and
Steven commented that they would like to serve another term.
b. Proposed 2026 meeting dates
i. Tiffany Fair presented the 2026 meeting dates and Gee Cowan
commented February 4th Was during the FPPTA Winter Trustee School
and would heed to be rescheduled. Tiffany commented she would bring
alternate dates to the next meeting.
ii, By Board consensus, the 2026 meeting dates were approved except for
February 4, 2026.
c. FIRS Mortality Tables memo
L Tiffany Fair presented the FRS Mortality table explaining this hew table
was adopted by FIRS will be used effective with the October 1, 20257
actuarial valuation report. Tiffany commented that the actuary could
complete a cost study to identify an estimate of fiscal impact ahead of the
valuation. By Board consensus, they did not want a cost study.
R. Investment Policy Statement (IPS)
1. Brad Hess reviewed the IPS and commented he would update the
footer to state August 2025.
2. Brad Hess reviewed page two commenting on the changes that
were made and explained this was to keep total equity in range.
Hi. Fee increase
1. Brad Hess presented a fee increase to the board, explaining the
last rate change occurred in 2021.
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2. The board discussed the fee proposal and asked if Mariner could
accommodate a small gradual increases over the next three years
to get to the retainer Mariner is requesting. Brad Hess said that
was a reasonable ask.
Gary Gleason and second by Shannon Hogger motion carried 6-0.
6 IP
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v. David Robinson asked about determination from IRS, a letter certified t
plan had all the required language. Gee Cowan commented they we
interested in this,
8. Consent Agenda
a. Payment ratification
i. Warrant #124
b. New invoices for payment approval
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c. Fund activity report for April 24, 2025 ® July 30, 2025
ii. Financial disclosure forms
1. it was noted all trustees had completed their Form I
Educational opportunities
1 . Tiffany Fair review educational opportunities available to the Board.
2. Gee Cowan asked about trustee expense reports and commented
that she wanted to make sure that the expense reports were
consistent across the Board.
3. Gee Cowan and Shannon Hopper want to attend FPPTA Fall
school and Gary Gleason and Steven Sanders would like to also
attend, if they were re-elected/re-appointed.
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Cowana. Pat Gleason asked about the voting process for the FPPTA board and Gee
• one • per plan and Pat
commentedshe would
to see a decision on the vote made by the Board as a whole.
- r,Report
a. Gee Cowan gave an update on the financial return the board received by using
the debit card for travel and expenses to conferences.
b. Gee Cowan announced that the FPPTA Trustee Leadership Council (TLC) was
hosting an event in April of • she was interested in attending. It would
be In St. Augustine, and the price was unknown at this time, but she would let the
Board know as soon as she has more details.
c. Gee Cowan commented she would continue talking to the new trustees on
Sundays for the FPPTA schools.
Respectfully submitted by: proved by;
Tiffan Fair, Plan Administrator ita Cowan, Chair
Date Approved by the Pension Board; ILL °