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HomeMy WebLinkAboutItem #12 Second Reading of Ordinance for Changes to City of Ocoee Police Officers' and Firefighters' Retirtement Trust Fund AGENDA ITEM COVER SHEET Charlie Brown, 407.905.3160 x Meeting Date: November 4,2008 Item # ~ t'~ Reviewed By: Department Director: Charlie Br wn City Manager: Rob Frank Contact Name: Contact Number: the City of Ocoee Municipal Police Background Summary: The Pension Board for the City of Ocoee Municipal Police Officers' and Firefighters' Retirement Trust Fund is governed by City of Ocoee ordinance. Issue: Amendment to the Police Officers' and Firefighters' Pension Ordinance to include the following changes: -Allow DROP (Deferred Retirement Option Plan) participants to serve as a trustee but not vote for elected trustees. -Optional Forms of Benefits is amended by adding a PLOP (Partial Lump Sum Option Payment) provision, providing for the election of a partial lump sum payment in increments from 5 to 20 percent with the corresponding balance paid in accordance with the normal form or option selected. -Deferred Retirement Option Plan is amended by adding a BAC-DROP provision allowing a participant to work past his/her Normal Retirement Date and retroactively enter the DROP (Deferred Retirement Option Plan). -Finances and Fund management, amending investment policy. Recommendations It is the recommendation of the board of trustees that the attached ordinance amendment be approved. Attachments: An Ordinance amendment drafted by legal counsel for the Police and Fire Pension Board. Financial Impact: There is no financial impact to the plan or the City of Ocoee for the ordinance amendments listed. Type of Item: (please mark with an "x'J _ Public Hearing _ Ordinance First Reading X Ordinance Second Reading Resolution _ Commission Approval Discussion & Direction For Clerk's DeDi Use: _____ Consent Agenda Public Hearing Regular Agenda _ Original DocumenUContract Attached for Execution by City Clerk Original DocumenUContract Held by Department for Execution Reviewed by City Attorney Reviewed by Finance Dept. Reviewed by 0 N/A N/A N/A ORDINANCE NO. AN ORDINANCE OF THE CITY OF OCOEE, FLORIDA, RELATING TO THE CITY OF OCOEE MUNICIPAL POLICE OFFICERS' AND FIREFIGHTERS' RETIREMENT TRUST FUND; AMENDING ORDINANCE NUMBER 96-20, AS SUBSEQUENTLY AMENDED; AMENDING SECTION 1, DEFINITIONS BY AMENDING THE DEFINITION OF "ACTUARIAL EQUIVALENT"; AMENDING SECTION 3, BOARD OF TRUSTEES; AMENDING SECTION 10, OPTIONAL FORMS OF BENEFITS; AMENDING SECTION 27, DEFERRED RETIREMENT OPTION PLAN; PROVIDING FOR SEVERABILITY OF PROVISIONS; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH AND PROVIDING AN EFFECTIVE DATE. SECTION 1: Authority. The City Commission of the City ofOcoee has the authority to adopt this ordinance pursuant to Article VIII of the Constitution of the State of Florida and Chapter 166, Florida Statutes. SECTION 2: That Ordinance No. 96-20, adopting the amended and restated City of Ocoee Municipal Police Officers' and Firefighters' Retirement Trust Fund, as subsequently amended, is hereby further amended by amending Section 1, Definitions, by amending the definition of "Actuarial Equivalent", to read as follows: Actuarial Equivalent means a benefit or amount of equal value, based upon the UP 1981 Mortality Table and an interest rate of eight (8%) per annmn determined on the basis of actuarial equivalency using assumptions adopted bv the Board such that benefit calculations are not subiect to City discretion. SECTION 3: That Ordinance No. 96-20, adopting the amended and restated City of Ocoee Municipal Police Officers' and Firefighters' Retirement Trust Fund, as subsequently amended, is hereby further amended by amending Section 3, Board of Trustees, subsection 1., to read as follows: 1. The sole and exclusive administration of and responsibility for the proper operation of the System and for making effective the provisions of this ordinance are hereby vested in a Board of Trustees. The Board of Trustees is hereby designated as the plan administrator. The Board shall consist of five (5) Trustees, two of whom, unless otherwise prohibited by law, shall be legal residents of the City, who shall be appointed by the Ocoee City Commission, and two of whom shall be Members of the System, who shall be elected by a majority ofthe Police Officers and Firefighters who are Members of the System. The fifth Trustee shall be chosen by a majority of the previous four Trustees as provided for herein, and such person's name shall be submitted to the Ocoee City Commission. Upon receipt of the fifth person's name, the Ocoee City Commission shall, as a ministerial duty, appoint such person to the Board of Trustees as its fifth Trustee. The fifth Trustee shall have the same rights as each of the other four Trustees appointed or elected as herein provided and shall serve a two (2) year term unless he or she sooner vacates the office. Each resident 1 Trustee shall serve as Trustee for a period of two (2) years, unless he or she sooner vacates the office or is sooner replaced by the Ocoee City Commission at whose pleasure he or she shall serve. Each Member Trustee shall serve as Trustee for a period of two (2) years, unless he or she sooner leaves the employment of the City as a Police Officer or Firefighter or otherwise vacates his or her office as Trustee, whereupon a successor shall be chosen in the same manner as the departing Trustee. Each Trustee may succeed himself in office. DROP participants can be elected as but not vote for elected trustees. The Board shall establish and administer the nominating and election procedures for each election. The Board shall meet at least quarterly each year. The Board shall be a legal entity with, in addition to other powers and responsibilities contained herein, the power to bring and defend lawsuits of every kind, nature, and description. SECTION 4: That Ordinance No. 96-20, adopting the amended and restated City of Ocoee Municipal Police Officers' and Firefighters' Retirement Trust Fund, as subsequently amended, is hereby further amended by amending Section 10, Optional Forms of Benefits, subsection 1., to read as follows: 1. In lieu of the amount and form of retirement income payable in the event of normal or early retirement as specified herein, a Member, upon written request to the Board, may elect to receive a retirement income or benefit of equivalent actuarial value payable in accordance with one of the following options: A. A retirement income of a larger montWy amount, payable to the Retiree for his or her lifetime only. B. A retirement income of a modified monthly amount, payable to the Retiree during the lifetime of the Retiree, and following the death of the Retiree, one hundred percent (100%), seventy-five percent (75%), sixty-six and two-thirds percent (66-2/3%), or fifty percent (50%) of such montWy amounts payable to a joint pensioner for his or her lifetime. Except where the Retiree's joint pensioner is his or her Spouse, the payments to the joint pensioner as a percentage of the payments to the Retiree shall not exceed the applicable percentage provided for in the applicable table in the Treasury regulations. C. Such other amount and form of retirement payments or benefits as, in the opinion of the Board, will best meet the circumstances of the retiring Member. A lump sum benefit will be approved by the Board only in accordance with subsection 7 of this Section 10. D. A member may elect a percentage of benefit in a lump sum as follows: ill Five (5) percent lump sum benefit with ninety-five (95) percent paid under the normal form or as per A., B. or C. above. ill Ten (10) percent lump sum benefit with ninety (90) percent paid under the normal form or as per A., B. or C. above. ill Fifteen (15) percent lump: sum benefit with eighty-five (85) percent paid under the normal form or as per A., B. or C. above. 2 ffi Twenty (20) percent lump sum benefit with eighty (80) percent paid under the normal form or as per A.. B. or C. above. SECTION 5: That Ordinance No. 96-20, adopting the amended and restated City of Ocoee Municipal Police Officers' and Firefighters' Retirement Trust Fund, as subsequently amended, is hereby further amended by amending Section 27, Deferred Retirement Option Plan, to read as follows: SECTION 27. DEFERRED RETIREMENT OPTION PLAN. 1. Definitions. As used in this Section 27, the following definitions apply:" A. "DROP" -- The Ocoee Police Officers' and Firefighters' Deferred Retirement Option Plan. B. "DROP Account" -- The account established for each DROP participant under subsection 3. 2. Participation. A. Eligibility to Participate. In lieu of terminating his employment as a Police Officer or Firefighter, any Member who is eligible for normal retirement under the System may elect to defer receipt of such service retirement pension and to participate in the DROP provided that the election to participate in the DROP is made within twelve (12) months following the date on which the Member first becomes eligible for normal retirement, or for a Member who first reached eligibility for normal retirement prior to the effective date of this Section, the election to participate is made within twelve (12) months from the effective date of this Section. A Member who fails to make the election within such twelve (12) month limitation period shall forfeit all rights to participate in the DROP. B. Election to Participate. A Member's election to participate in the DROP must be made in writing in a time and manner determined by the Board and shall be effective on the first day of the first calendar month which is at least fifteen (15) business days after it is received by the Board. C Period of participation. A Member who elects to participate in the DROP under subsection 2.B., shall participate in the DROP for a period not to exceed sixty (60) months beginning on the date which the Member first becomes eligible for normal retirement. An election to participate in the DROP shall constitute an irrevocable election to resign from the service of the 3 City at the time of election into the DROP. A Member may participate only once. D. Termination of Participation. (1) A Member participating in the DROP shall cease participating in the DROP by: (a) electing in writing, in a time and manner determined by the Board, to cease participating in the DROP; (b) continuing to be employed as a Police Officer or Firefighter at the end of his period of participation in the DROP as determined under subsection 2.C.; or (c) terminating his employment as a Police Officer or Firefighter. Any election made under clause (a) shall be effective on the first day of the first calendar month which is at least fifteen (15) business days after it is received by the Board. (2) Upon the Member's termination of participation in the DROP, pursuant to subsection (l),(a) or (b) above, all amounts provided for in subsection 3.B., including monthly benefits and investment earnings and losses or interest, shall cease to be transferred from the System to his DROP Account. Any amounts remaining in his DROP Account shall be paid to him in accordance with the provisions of subsection 4. when he terminates his employment as a Police Officer or Firefighter. (3) A Member who elects to terminate his participation in the DROP under subsection 2.D. shall not be permitted to again become a participant in the DROP. E. Effect of DROP Participation on the System. (1) A Member's Credited Service and his accrued benefit under the System shall be determined on the date his election to participate in the DROP first becomes effective. The Member shall not accrue any additional Credited Service or any additional benefits under the System (except for any additional benefits provided under any cost-of-living adjustment in the System) while he is a participant in the DROP. After a Member commences participation, he shall not be permitted to again contribute to the System nor shall he be eligible for disability or pre-retirement death benefits. (2) No amounts shall be paid to a Member from the System while the Member is a participant in the DROP. Unless otherwise specified in the System, if a Member terminates his participation in the DROP other than by terminating his employment as a Police Officer or Firefighter, no amounts shall be paid to him from the 4 System until he terminates his employment as a Police Officer or Firefighter. Unless otherwise specified in the System, amounts transferred from the System to the Member's DROP Account shall be paid directly to the Member only on the termination of his employment as a Police Officer or Firefighter. 3. Funding. A. Establishment of DROP Account. A DROP Account shall be established for each Member participating in the DROP. A Member's DROP Account shall consist of amounts transferred to the DROP under subsection 3.B., and earnings or interest on those amounts. B. Transfers From Retirement System. (1) As of the first day of each month of a Member's period of participation in the DROP, the monthly retirement benefit he would have received under the System had he terminated his employment as a Police Officer or Firefighter and elected to receive monthly benefit payments thereunder shall be transferred to his DROP Account, except as otherwise provided for in subsection 2.D.(2). A Member's period of participation in the DROP shall be determined in accordance with the provisions of subsections 2.C. and 2.D., but in no event shall it continue past the date he terminates his employment as a Police Officer or Firefighter. (2) Except as otherwise provided in subsection 2.D.(2), a Member's DROP Account under this subsection 3.B. shall be debited or credited after each fiscal year quarter with either: (a) Interest at an effective rate of six and one-half percent (6.5%) per annum compounded monthly on the prior month's ending balance; or (b) Earnings, determined as follows: The average daily balance in a Member's DROP Account shall be credited or debited at a rate equal to the actual net rate of investment return realized by the System for that quarter. "Net investment return" for the purpose of this paragraph is the total return of the assets in which the Member's DROP Account is invested by the Board net of brokerage commissions, transaction costs and management fees. Upon electing participation in the DROP, the Member shall elect to receive either interest or earnings on his account to be determined as provided above. The Member may, in writing, elect to change his election only once during his DROP 5 participation. An election to change must be made prior to the end of a quarter and shall be effective beginning the following quarter. (3) A Member's DROP Account shall only be credited or debited with earnings or interest and monthly benefits while the Member is a participant in the DROP and after the Member dies, retires or terminates his employment as a Police Officer or Firefighter. If a Member is employed by the City Fire and Police Departments after electing to cease participation in the DROP pursuant to subsection 2.D.(1)(a) or after participating in the DROP for five (5) years, then beginning with the next payment following cessation of participation or beginning with the Member's 61st month of DROP participation, whichever occurs first, the Member's DROP Account will no longer be credited or debited with earnings or interest, nor will monthly benefits be transferred to the DROP account. All such non-transferred amounts shall be forfeited and continue to be forfeited while the Member is employed by the City Fire and Police Departments. A Member employed by the City Fire and Police Departments after five (5) years of DROP participation will still not be eligible for pre-retirement death or disability benefits, nor will he accrue additional Credited Service. 4. Distribution of DROP Accounts on Termination of Employment. A. Eligibility for Benefits. A Member shall receive the balance in his DROP Account in accordance with the provisions of this subsection 4. upon his termination of employment as a Police Officer or Firefighter. Except as provided in subsection 4. E., no amounts shall be paid to a Member from the DROP prior to his termination of employment as a Police Officer or Firefighter. B. Form of Distribution. (1) Unless the Member elects otherwise, distribution of his DROP Account shall be made in a cash lump sum, subject to the direct rollover provisions set forth in subsection 4. F. A Member may, however, elect, in such time and manner as the Board shall prescribe, that his DROP distribution be used to purchase a nonforfeitable fixed annuity payable in such form as the Member may elect. Elections under this paragraph shall be in writing and shall be made in such time or manner as the Board shall determine. (2) If a Member dies before his benefit is paid, his DROP Account shall be paid to his Beneficiary in such optional form as his Beneficiary may select. If no Beneficiary designation is made, the DROP Account shall be distributed to the Member's estate. C. Date of Payment of Distribution. 6 Except as otherwise provided in this subsection 4., distribution of a Member's DROP Account shall be made as soon as administratively practicable following the Member's termination of employment Distribution of the amount in a Member's DROP account will not be made unless the Member completes a written request for distribution and a written election, on forms designated by the Board, to either receive a cash lump sum or a rollover of the lump sum amount. D. Proof of Death and Right of Beneficiarv or Other Person. The Board may require and rely upon such proof of death and such evidence of the right of any Beneficiary or other person to receive the value of a deceased Member's DROP Account as the Board may deem proper and its determination of the right of that Beneficiary or other person to receive payment shall be conclusive. E. Distribution Limitation. Notwithstanding any other provision ofthis subsection 4., all distributions from the DROP shall conform to the "Minimum Distribution Of Benefits" provisions as provided for herein. F. Direct Rollover of Certain Distributions. This subsection applies to distributions made on or after January 1,2002. Notwithstanding any provision ofthe DROP to the contrary, a distributee may elect to have any portion of an eligible rollover distribution paid in a direct rollover as otherwise provided under the System in Section 25, herein incorporated by reference. 5. Administration of DROP. A. Board Administers the DROP. The general administration of the DROP, the responsibility for carrying out the provisions of the DROP and the responsibility of overseeing the investment of the DROP's assets shall be placed in the Board. The members of the Board may appoint from their number such subcommittees with such powers as they shall determine; may adopt such administrative procedures and regulations as they deem desirable for the conduct of their affairs; may authorize one or more of their number or any agent to execute or deliver any instrument or make any payment on their behalf; may retain counsel, employ agents and provide for such clerical, accounting, actuarial and consulting services as they may require in carrying out the provisions ofthe DROP; and may allocate among themselves or delegate to other persons all or such portion of their duties under the DROP, other than those granted to them as Trustee under any trust agreement adopted for use in implementing the DROP, as they, in their sole discretion, shall decide. A Trustee shall not vote on any question relating exclusively to himself. 7 B. Individual Accounts. Records and Reports. The Board shall maintain, or cause to be maintained, records showing the operation and condition of the DROP, including records showing the individual balances in each Member's DROP Account, and the Board shall keep, or cause to be kept, in convenient form such data as may be necessary for the valuation of the assets and liabilities ofthe DROP. The Board shall prepare or cause to be prepared and distributed to Members participating in the DROP and other individuals or filed with the appropriate governmental agencies, as the case may be, all necessary descriptions, reports, information returns, and data required to be distributed or filed for the DROP pursuant to the Code, the applicable portions of the Act and any other applicable laws. C. Establishment of Rules. Subject to the limitations of the DROP, the Board from time to time shall establish rules for the administration of the DROP and the transaction of its business. The Board shall have discretionary authority to construe and interpret the DROP (including but not limited to determination of an individual's eligibility for DROP participation, the right and amount of any benefit payable under the DROP and the date on which any individual ceases to be a participant in the DROP). The determination ofthe Board as to the interpretation ofthe DROP or its determination of any disputed questions shall be conclusive and final to the extent permitted by applicable law. The Board shall also oversee the investment ofthe DROP'S assets. D. Limitation of Liability. (1) The Trustees shall not incur any liability individually or on behalf of any other individuals for any act or failure to act, made in good faith in relation to the DROP or the funds ofthe DROP. (2) Neither the Board nor any Trustee of the Board shall be responsible for any reports furnished by any expert retained or employed by the Board, but they shall be entitled to rely thereon as well as on certificates furnished by an accountant or an actuary, and on all opinions of counsel. The Board shall be fully protected with respect to any action taken or suffered by it in good faith in reliance upon such expert, accountant, actuary or counsel, and all actions taken or suffered in such reliance shall be conclusive upon any person with any interest in the DROP. 6. General Provisions. A. Amendment of DROP. 8 The DROP may be amended by an ordinance of the City at any time and from time to time, and retroactively if deemed necessary or appropriate, to amend in whole or in part any or all of the provisions of the DROP. However, except as otherwise provided by law, no amendment shall make it possible for any part of the DROP's funds to be used for, or diverted to, purposes other than for the exclusive benefit of persons entitled to benefits under the DROP. No amendment shall be made which has the effect of decreasing the balance of the DROP Account of any Member. B. Facility ofPavment. If the Board shall find that a Member or other person entitled to a benefit under the DROP is unable to care for his affairs because of illness or accident or is a minor, the Board may direct that any benefit due him, unless claim shall have been made for the benefit by a duly appointed legal representative, be paid to his Spouse, a child, a parent or other blood relative, or to a person with whom he resides. Any payment so made shall be a complete discharge of the liabilities of the DROP for that benefit. C. Information. Each Member, Beneficiary or other person entitled to a benefit, before any benefit shall be payable to him or on his account under the DROP, shall file with the Board the information that it shall require to establish his rights and benefits under the DROP. D. Prevention of Escheat. If the Board cannot ascertain the whereabouts of any person to whom a payment is due under the DROP, the Board may, no earlier than three (3) years from the date such payment is due, mail a notice of such due and owing payment to the last known address of such person, as shown on the records of the Board or the City. If such person has not made written claim therefor within three (3) months of the date of the mailing, the Board may, ifit so elects and upon receiving advice from counsel to the DROP, direct that such payment and all remaining payments otherwise due such person be canceled on the records of the DROP. Upon such cancellation, the DROP shall have no further liability therefor except that, in the event such person or his Beneficiary later notifies the Board of his whereabouts and requests the payment or payments due to him under the DROP, the amount so applied shall be paid to him in accordance with the provisions of the DROP. E. Written Elections, Notification. (1) Any elections, notifications or designations made by a Member pursuant to the provisions ofthe DROP shall be made in writing 9 and filed with the Board in a time and manner determined by the Board under rules uniformly applicable to all employees similarly situated. The Board reserves the right to change from the time and manner for making notifications, elections or designations by Members under the DROP if it determines after due deliberation that such action is justified in that it improves the administration of the DROP. In the event of a conflict between the provisions for making an election, notification or designation set forth in the DROP and such new administrative procedures, those new administrative procedures shall prevail. (2) Each Member or Retiree who has a DROP Account shall be responsible for furnishing the Board with his current address and any subsequent changes in his address. Any notice required to be given to a Member or Retiree hereunder shall be deemed given if directed to him at the last such address given to the Board and mailed by registered or certified United States mail. If any check mailed by registered or certified United States mail to such address is returned, mailing of checks will be suspended until such time as the Member or Retiree notifies the Board of his address. F. Benefits Not Guaranteed. All benefits payable to a Member from the DROP shall be paid only from the assets of the Member's DROP Account and neither the City nor the Board shall have any duty or liability to furnish the DROP with any funds, securities or other assets except to the extent required by any applicable law. G. Construction. (1) The DROP shall be construed, regulated and administered under the laws of Florida, except where other applicable law controls. (2) The titles and headings of the subsections in this Section 27 are for convenience only. In the case of ambiguity or inconsistency, the text rather than the titles or headings shall control. H. Forfeiture of Retirement Benefits. Nothing in this Section shall be construed to remove DROP participants from the scope of Section 22 above or Section 112.3173, Florida Statutes. DROP participants who commit a specified offense or whose employment is terminated as described in Section 22 while employed, will be subject to forfeiture of all retirement benefits, including DROP benefits, pursuant to the above provisions of law. 1. Effect of DROP Participation on Employment. Participation in the DROP is not a guarantee of employment and DROP participants shall be subiect to the same 10 employment standards and policies that are applicable to employees who are not DROP participants. J. BAC-DROP In lieu of participation in the DROP. a Member may elect to participate in an actuariallv equivalent BAC-DROP to a date ofthe Member's choosing. provided that the date is not further back than the Member's normal retirement date. The total BAC-DROP period shall not exceed sixty (60) months and shall provide an immediate partial lump sum distribution. payable to the Member's DROP Account. The lump sum shall be the accrued benefit. determined as if the Member had entered the DROP retroactively. as described above. accumulated with interest at the annual fixed rate of 6.5%. The Member may choose an actuariallv equivalent form of benefit at the time ofBAC-DROP entry. as described in Section 10. Optional Forms of Benefits. Member contributions shall be returned for the period ofthe BAC-DROP participation. A Member electing the BAC-DROP shall terminate employment not later than the first day of the month following his election to participate in the BAC-DROP. The Board's authority and power for administration of the BAC-DROP shall be the same as those provided for in the DROP. SECTION 6. Repeal of Ordinances. All ordinances or parts of ordinances in conflict herewith are hereby repealed. SECTION 7. Severability. In the event any section, subsection, paragraph, sentence, clause, phrase or word of this ordinance shall be held invalid by a court of competent jurisdiction, then such invalidity shall not affect the remaining portions hereof. SECTION 8. Effective Date. This ordinance shall take effect upon second reading and adoption. PASSED AND ADOPTED this _ day of ,2008. ATTEST: APPROVED: CITY OF OCOEE, FLORIDA By: S. Scott Vandergrift, Mayor Beth Eikenberry, City Clerk (SEAL) ADVERTISED 11 r FOR USE AND RELIANCE ONLY BY THE CITY OF OCOEE, FLORIDA APPROVED AS TO FORM AND LEGALITY THIS _ day of , 2008. CHRISTIANSEN & DEHNER, P.A. Special Counsel By: noc\ocoee\pt\\ O-\6-08.ord READ FIRST TIME READ SECOND TIME AND ADOPTED APPROVE 12 ...- Foster&FosterINC Actuarial Consultants for Public Pension Plans October 16, 2008 Mr. Ken Strickland, Board Secretary Police Officers' & Firefighters' Pension Fund City of Ocoee 150 North Lakeshore Dr. Ocoee, FL 34761-2322 Re: City of Ocoee Police Officers' and Firefighters' Retirement Trust Fund Dear Ken: We have reviewed the proposed Ordinance, identified on page 12 as noc\ocoee\pf\10-16-08.ord, amending the Plan and have determined that its adoption will have no impact on the assumptions used in determining the funding requirements of the program. Because the changes do not result in a change in the valuation results, it is our opinion that a formal Actuarial Impact Statement is not required in support of its adoption. However, since the Division of Retirement must be aware of the current provisions of all public pension programs, it is recommended that you send a copy of this letter and a copy of the fully executed Ordinance to each of the following offices: Mr. Charles Slavin Division of Retirement Bureau of Local Retirement Systems P. O. Box 9000 Tallahassee, FL 32315-9000 Ms. Patricia Shoemaker Division of Retirement Municipal Police and Fire Pension Trust Funds P.O. Box 3010 Tallahassee, FL 32315-3010 If you have any questions, please let me know. Sincerely, DHUhja cc: Charlie Brown, Chairman H. Lee Dehner, Board Attorney 13420 Parker Commons Blvd., Suite 104 . Fort Myers, Florida 33912 . 239-433-5500. Fax 239-481-0634. www.foster-foster.com