PRESENT STAFF EXCUSED GUESTS I. CALL TO ORDER A MOMENT OF SILENCE WILL BE OBSERVED FOR THE FOLLOWING DECEASED MEMBER:
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- Eustacia Walton
- 5 years ago
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1 J A C K S O N V I L L E P O L I C E A N D F I R E P E N S I O N F U N D A D V I S O R Y C O M M I T T E E M E E T I N G A G E N D A N O V E M B E R 8, : 0 0 A M PRESENT James Holderfield, Chair Battalion Chief Sean Hatchett, V. Chair Lt. Ellis Burns, Police Representative Cpt. Michael Lynch, Fire Representative Lt. Michael Shell, Police Representative Lt. Christopher Stover, Fire Representative Rick Townsend, Retired Police Representative STAFF Timothy H. Johnson, Executive Director Plan Administrator Steve Lundy, Assistant Plan Administrator Chuck Hayes, Pension Benefits Manager Lawsikia Hodges, Office of General Counsel Pete Strong, Fund Actuary via webex Bob Sugarman, Fund Counsel via webex EXCUSED GUESTS I. CALL TO ORDER II. A MOMENT OF SILENCE WILL BE OBSERVED FOR THE FOLLOWING DECEASED MEMBER: Wayne A. Clark, Retired Police Officer III. PUBLIC SPEAKING PERIOD
2 P O L I C E A N D F I R E P E N S I O N F U N D A D V I S O R Y C O M M I T T E E M E E T I N G A G E N D A N O V E M B E R 8, Page 2 IV. CONSENT AGENDA (ITEMS 1-8) 1. MEETING SUMMARY TO BE APPROVED Committee action requested 1. Summary of the meeting held October 11, 2017 Copy held in the meeting file. 2. APPLICATION FOR VESTED RETIREMENT Committee action requested 1. TURNER, Bryan E. Date of Vesting August 25, 2017, to be placed on pension July 28, 2028, monthly pension base amount of $1, Police Officer. 3. APPLICATION FOR TIME SERVICE CONNECTIONS Committee action requested 1. BARILLA, Joseph A. Prior Military Service (2 yrs.), $14, Firefighter. 2. BERNARD, Christopher C. Prior Duval Service (4 mos., 24 days), $1, Police Officer. 3. BLACK, Christopher W. Prior Military Service (2 yrs.), $22, Police Officer. 4. BLACK, Christopher W. Prior Duval Service (2 yrs., 12 days), $11, Police Officer. 5. DAMONE, Kaja M. Prior Duval Service (3 yrs., 1 mos., 20 days), $12, Police Officer. 6. ESSLINGER, Adam J. Prior Florida Service (2 yrs., 1 mos., 16 days), $30, Fire Lieutenant. 7. FERNANDEZ Jr., Nelson M. Prior Military Service (20 days), $ Fire Lieutenant.
3 P O L I C E A N D F I R E P E N S I O N F U N D A D V I S O R Y C O M M I T T E E M E E T I N G A G E N D A N O V E M B E R 8, Page 3 8. GEYER, Colin T. Prior Florida Service (3 yrs., 7 mos., 9 days), $25, Firefighter. 9. GINTHER, Paul D. Prior Duval Service (2 yrs.), $14, Firefighter. 10. GRAY, Aaron G. Prior Florida Service (5 yrs.), $35, Firefighter. 11. HARPER, Christopher E. Prior Duval Service (7 mos., 11 days), $4, Fire Captain. 12. HARPER, Christopher E. Prior Florida Service (6 mos., 14 days), $8, Fire Captain. 13. HOGAN, Patrick A. Prior Military Service (2 yrs.), $13, Firefighter. 14. KINARD, Adam J. Prior Duval Service (3 yrs., 8 mos., 10 days), $17, Police Officer. 15. LEE, David A. Prior Military Service (11 mos., 29 days), $8, Firefighter. 16. RIVERA, Henry B. Prior Florida Service (2 yrs., 8 mos.), $26, Firefighter. 17. RONE, Brian L. Prior Duval Service (8 yrs., 9 mos., 26 days), $16, Police Officer. 18. SIMS, William E. Prior Military Service (1 yr., 7 mos., 24 days), $19, Firefighter. 19. TRANQUILLE, Wanda L. Prior Military Service (5 mos., 11 days), $5, Police Officer. 20. VICKERY, Nathan H. Prior Duval Service (4 yrs., 7 mos., 7 days), $15, Police Officer. 21. VORPAHL, Jacob J. Prior Military Service (1 yr.), $9, Police Officer.
4 P O L I C E A N D F I R E P E N S I O N F U N D A D V I S O R Y C O M M I T T E E M E E T I N G A G E N D A N O V E M B E R 8, Page VOUGHT, Kelly D. Prior Florida Service (2 yrs., 8 mos., 17 days), $32, Police Officer. 23. WALL Jr., Charles A. Prior Duval Service (2 yrs., 1 mos., 5 days), $7, Police Officer. 24. WHITAKER, Lance C. Prior Duval Service (2 yrs., 10 mos.), $14, Police Officer. 25. WILLIAMS, Melissa K. Prior Florida Service (2 yrs., 7 mos., 13 days), $23, Police Officer. 26. WILSON, Justin C. Prior Duval Service (1 yr., 11 mos., 12 days), $12, Police Lieutenant. 4. RESCISSION OF DROP PARTICIPATION Committee action requested 1. GALLAHER, Stephen G. DROP commencement date of October 11, 2014, date of rescission October 7, % pension contribution requirement at the rate of $3,260.85; 6% pension contribution requirement at the rate of $12, Assistant Chief. 5. REFUND OF PENSION CONTRIBUTIONS To be received as information 1. COCHRAN, Johnathan D. Refund of pension contributions in the amount of $11, Police Officer. 2. BELK, Joshua S. Refund of pension contributions in the amount of $9, Police Officer. 3. FORSHEE, Gabriel L. Refund of pension contributions in the amount of $2, Firefighter.
5 P O L I C E A N D F I R E P E N S I O N F U N D A D V I S O R Y C O M M I T T E E M E E T I N G A G E N D A N O V E M B E R 8, Page 5 6. SHARE PLAN DISTRIBUTIONS To be received as information The following members received gross Share Plan Distributions in the following amounts: BARKER, William V. $3, BATROUS, David J. $3, BENTON, Lisa M. $3, BUXTON, Jonette M. $3, CHU, Jack $3, CROTTY, Joseph T. $3, GAINEY, Robin R. $3, GOODY, Peter C. $3, HARRIS, Ivey D. $3, HUDSON, Erica L. $3, IRONSIDE, William P. $3, IVEY, Patrick L. $3, JOHN, Caroline S. $3, JOHNSON, Anthony E. $3, JOHNSTON, David B. $3, KNUDSEN, John B. $3, KOBYLARZ, Sean P. $3, McCOY, Robert L. $3, MOON, Jennifer L. $3, MOON, Michael W. $3, MURPHY, Lesia M. $3, NAVARRO, Kimberly A. $3, RUSSELL, Matthew M. $3, RUTKOWSKI, David T. $3, THOMPSON, Lucius E. $3, WHITE, Charles M. $3, WILLIAMS, Matthew R. $3,167.76
6 P O L I C E A N D F I R E P E N S I O N F U N D A D V I S O R Y C O M M I T T E E M E E T I N G A G E N D A N O V E M B E R 8, Page 6 7. DROP PARTICIPANT TERMINATION OF EMPLOYMENT To be received as information NAME DROP COMMENCEMENT EMPLOYMENT TERMINATION MONTHLY PENSION BASE RANK 1. BATES, Betty L. 10/13/2012 9/8/2017 $3, Police Officer 2. BEERS, Robert A. 10/13/ /6/2017 $3, Police Sergeant 3. BRELAND, Richard D. 10/13/ /6/2017 $3, Police Officer 4. BROWN, Adam J. 10/13/ /6/2017 $6, Chief of Patrol East 5. BUTLER, Gerald D. 10/13/ /6/2017 $3, Fire Engineer 6. CHASE, Michael L. 10/13/ /6/2017 $4, Police Officer 7. CICERO, Dwight C. 10/13/ /6/2017 $4, Fire Captain 8. COOK, Michelle E. 10/13/ /6/2017 $5, Director of Patrol & Enforcement 9. CONNOR Jr., Robert F. 10/13/ /6/2017 $6, Chief of Homeland Security 10. FARRIS, Stephen M. 10/13/ /6/2017 $3, Police Officer 11. FARHAT Jr., Edward J. 10/13/ /6/2017 $3, Police Sergeant 12. FONTENOT, Leonard M. 10/13/ /6/2017 $3, Police Officer 13. GAMBLE, Joanna V. 10/13/ /6/2017 $2, Police Officer 14. GANTT, Vandaren C. 10/13/ /6/2017 $3, Fire Lieutenant 15. GROVES, Dale H. 10/13/ /6/2017 $3, Police Officer 16. KREEGER Jr., Billy G. 10/13/ /6/2017 $3, Police Sergeant 17. McVICKER, Dennis F. 10/13/ /6/2017 $3, Police Sergeant 18. MOSLEY, Michael R. 10/13/ /6/2017 $3, Police Officer 19. MILEY, Kevin W. 10/13/ /6/2017 $3, Police Officer 20. MOORE Jr., Anthony 10/13/ /6/2017 $3, Police Officer 21. NEWELL, Robert J. 10/13/ /6/2017 $3, Police Officer 22. PITTMAN, Nancy B. 10/13/ /6/2017 $3, Police Officer 23. PORTER, Michael G. 10/13/ /6/2017 $3, Fire Engineer 24. RAFFAELLY, Michael B. 10/13/ /6/2017 $3, Police Officer 25. REARDON Jr., Kenneth F. 10/13/ /6/2017 $3, Police Sergeant 26. RICE, Warren W. 10/13/ /6/2017 $3, Police Officer 27. RIVERA, Hector J. 10/13/ /6/2017 $3, Police Sergeant 28. SMITH, Christian M. 10/13/ /6/2017 $4, Police Lieutenant 29. SMITH, Frederick A. 10/13/ /6/2017 $3, Police Officer 30. SMITH III, Harold R. 10/13/ /6/2017 $3, Police Officer 31. SMITH, William R. 10/13/ /6/2017 $3, Police Sergeant 32. SPATES, Stephens J. 10/13/ /6/2017 $5, Police Lieutenant 33. WILKIE Sr., Charles W. 10/13/ /6/2017 $3, Police Officer 34. WOOLERY, Wayne J. 10/13/ /6/2017 $3, Police Officer
7 P O L I C E A N D F I R E P E N S I O N F U N D A D V I S O R Y C O M M I T T E E M E E T I N G A G E N D A N O V E M B E R 8, Page 7 8. DROP DISTRIBUTIONS To be received as information NAME AMOUNT DROP DISTRIBUTION 1. BATES, Betty L. $230, Partial value paid over 30 years $20, Partial Lump Sum Payment 2. BEERS, Robert A. $301, Entire value paid over 42.6 years 3. BRELAND, Richard D. $265, Entire value paid over 40.7 years 4. BROWN, Adam J. $490, Entire value paid over 44.6 years 5. BUTLER, Gerald D. $213, Partial value paid over 22 years $25, Partial Lump Sum Payment 6. CARVER, Steven L. $297, Entire Value Lump Sum Payment 7. CHASE, Michael L. $328, Entire value paid over 30 years 8. CICERO, Dwight C. $340, Entire value paid over 47.5 years 9. COOK, Michelle E. $432, Entire value paid over 48.8 years 10. CONNOR Jr., Robert F. $473, Entire value paid over 44.6 years 11. FARRIS, Stephen M. $269, Entire value paid over 49.5 years 12. FARHAT Jr., Edward J. $301, Entire value paid over 47.5 years 13. FONTENOT, Leonard M. $248, Entire value paid over 47.5 years 14. GAMBLE, Joanna V. $148, Partial value paid over 20 years $75, Partial Lump Sum Payment 15. GANTT, Vandaren C. $305, Entire value paid over 50.5 years 16. GROVES, Dale H. $251, Entire value paid over 30 years 17. JOHNSON, Richard W. $367, Entire Value Rollover Payment 18. KREEGER Jr., Billy G. $294, Entire value paid over 30 years 19. McKINNEY III, James $207, Entire Value Lump Sum Payment 20. McVICKER, Dennis F. $303, Entire value paid over 30 years 21. MOSLEY, Michael R. $264, Entire value paid over 36 years 22. MILEY, Kevin W. $251, Entire value paid over 50.5 years 23. MOORE Jr., Anthony $250, Entire value paid over 30 years 24. NEWELL, Robert J. $250, Entire value paid over 48.8 years 25. PITTMAN, Nancy B. $245, Entire value paid over 30 years 26. PORTER, Michael G. $240, Partial value paid over 25 years $3, Partial Lump Sum Payment 27. RAFFAELLY, Michael B. $255, Entire value paid over 40.7 years 28. REARDON Jr., Kenneth F. $305, Entire value paid over 35 years 29. RICE, Warren W. $250, Entire value paid over 49.5 years 30. RIVERA, Hector J. $299, Entire value paid over 30 years 31. SMITH, Christian M. $352, Entire value paid over 47.5 years 32. SMITH, Frederick A. $253, Entire value paid over 36 years 33. SMITH III, Harold R. $236, Entire value paid over 50.5 years 34. SMITH, William R. $296, Entire value paid over 47.5 years 35. SPATES, Stephens J. $271, Partial value paid over 30 years $37, Partial Lump Sum Payment $103, Partial Rollover Payment 36. WILKIE Sr., Charles W. $256, Entire value paid over 38.7 years 37. WOOLERY, Wayne J. $255, Entire value paid over 20 years
8 P O L I C E A N D F I R E P E N S I O N F U N D A D V I S O R Y C O M M I T T E E M E E T I N G A G E N D A N O V E M B E R 8, Page 8 IV. OLD BUSINESS V. COUNSEL REPORTS Lawsikia Hodges & Bob Sugarman 1. Benefit Correction & Appeal Policy Update 2. OGC Outstanding Opinions VI. EXECUTIVE DIRECTOR S REPORT Timothy Johnson 1. Election Update VII. NEW BUSINESS 1. Retroactive Benefits Study for Group 1B Retirees Pete Strong VIII. NEXT MEETING Wednesday, December 13, 2017 at 9:00AM IX. ADJOURNMENT NOTES: Any person requiring a special accommodation to participate in the meeting because of disability shall contact Steve Lundy, Assistant Plan Administrator, at (904) , at least five business days in advance of the meeting to make appropriate arrangements. The public meeting may be continued to a date, time, and place to be specified on the record at the meeting. If any person decides to appeal any decision made with respect to any matter considered at this public meeting such person will need to a record of proceedings, and for such purpose such person may need to ensure that a verbatim record of the proceedings is made at their own expense and that such record includes the testimony and evidence on which the appeal is based. Additional items may be added / changed prior to meeting. SL
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10 P O L I C E A N D F I R E P E N S I O N F U N D A D V I S O R Y C O M M I T T E E M E E T I N G S U M M A R Y O C T O B E R 1 1, : 0 0 A M PRESENT James Holderfield, Chair Battalion Chief Sean Hatchett, V. Chair Lt. Ellis Burns, Police Representative Cpt. Michael Lynch, Fire Representative Lt. Michael Shell, Police Representative Lt. Christopher Stover, Fire Representative STAFF Timothy H. Johnson, Executive Director Plan Administrator Steve Lundy, Assistant Plan Administrator Chuck Hayes, Pension Benefits Manager Lawsikia Hodges, Office of General Counsel Bob Sugarman, Fund Counsel via webex EXCUSED Rick Townsend, Retired Police Representative I. CALL TO ORDER Chairman James Holderfield called the meeting to order at 9:02AM. II. PUBLIC SPEAKING PERIOD There were no requests for Public Speaking. Public Speaking Period was closed. III. CONSENT AGENDA (ITEMS 1-10) 1. MEETING SUMMARY TO BE APPROVED 1. Summary of the meeting held September 13, 2017 Copy held in the meeting file.
11 P O L I C E A N D F I R E P E N S I O N F U N D A D V I S O R Y C O M M I T T E E M E E T I N G S U M M A R Y O C T O B E R 1 1, Page 2 A motion was made by Sean Hatchett to approve the meeting summary for September 13, 2017, seconded by Ellis Burns. The vote was unanimous. 2. APPLICATION FOR MEMBERSHIP 1. CLEARED (POLICE): 2. TRUSTEE RULE 13.3 (POLICE): A motion was made by Michael Shell to approve the Applications for Membership (POLICE), seconded by Michael Lynch. The vote was unanimous. 3. CLEARED (FIRE): 4. TRUSTEE RULE 13.3 (FIRE): A motion was made by Ellis Burns to approve the Applications for Membership (FIRE), seconded by Christopher Stover. The vote was unanimous. 3. APPLICATION FOR SURVIVOR BENEFITS A motion was made by Sean Hatchett to approve the Application for Survivor Benefits, seconded by Ellis Burns. The vote was unanimous. 4. APPLICATION FOR VESTED RETIREMENT A motion was made by Michael Lynch to approve the Application for Vested Retirement, seconded by Ellis Burns. The vote was unanimous. 5. APPLICATION FOR TIME SERVICE CONNECTIONS A motion was made by Michael Shell to approve the Applications for Time Service Connections, seconded by Michael Lynch. The vote was unanimous. 6. RESCISSION OF DROP PARTICIPATION A motion was made by Sean Hatchett to approve the Rescission of DROP Participation, seconded by Christopher Stover. The vote was unanimous.
12 P O L I C E A N D F I R E P E N S I O N F U N D A D V I S O R Y C O M M I T T E E M E E T I N G S U M M A R Y O C T O B E R 1 1, Page 3 The committee asked why two different contribution rates are shown. Steve Lundy and Chuck Hayes answered that members paid a 7% pension contribution until July of 2015, then 8% after, due to pension reform. 7. REFUND OF PENSION CONTRIBUTIONS The Refund of Pension Contributions were verified with supporting documentation and received as information by the Advisory Committee. 8. DROP PARTICIPANT TERMINATION OF EMPLOYMENT The DROP Participant Termination of Employment were verified with supporting documentation and received as information by the Advisory Committee. 9. DROP DISTRIBUTIONS The DROP Distributions were verified with supporting documentation and received as information by the Advisory Committee. 10. DROP DISTRIBUTIONS FOR SURVIVORS The DROP Distributions for Survivors were verified with supporting documentation and received as information by the Advisory Committee. IV. A MOMENT OF SILENCE WAS OBSERVED FOR THE FOLLOWING DECEASED MEMBERS (taken out of order): Thomas E. Broward, Retired Police Detective Donald G. Butler, Retired Fire Lieutenant Vernon H. Simms, Retired Fire Captain Linda Treadwell, Retired Firefighter Earl H. Williamson, Retired Police Sergeant V. OLD BUSINESS CA APPLICATION FOR MEMBERSHIP
13 P O L I C E A N D F I R E P E N S I O N F U N D A D V I S O R Y C O M M I T T E E M E E T I N G S U M M A R Y O C T O B E R 1 1, Page 4 1. HODGE, Benjamin D. Previously approved under Trustee Rule 13.3 amended to cleared 2. ROLAND, Adam S. Previously approved under Trustee Rule 13.3 amended to cleared A motion was made by Ellis Burns to amend the Applications for Membership of HODGE, Benjamin D. and ROLAND, Adam S. to cleared, seconded by Michael Shell. The vote was unanimous. 2. HOLTSMAN, Frank R. Date of Vesting June 16, 2017, to be placed on pension December 2, 2017, monthly pension base amount of $2, Police Officer. Bob Sugarman informed the Advisory Committee that the Application for Vested Retirement of HOLTSMAN, Frank R. is not subject to forfeiture. He said that HOLTSMAN s case was resolved without conviction, and without admission of offense. Bob Sugarman said that he and OGC prepared an opinion letter and thought that it had been sent to the PFPF; however it wasn t sent because of confusion caused by Hurricane Irma. Bob Sugarman said that the bottom line is that there are no grounds for forfeiture. A motion was made by Sean Hatchett to approve the Application for Vested Retirement of HOLTSMAN, Frank R., seconded by Christopher Stover. The vote was unanimous. VI. COUNSEL REPORTS Lawsikia Hodges & Bob Sugarman 1. Ordinance Staggering Terms Update Lawsikia Hodges said that Council has approved She said that the initial terms have been staggered by 2, 3, and 4 years for the three Fire and the three Police Advisory Committee Members. She said that the Retired Advisory Committee Member s term will remain at 4 years.
14 P O L I C E A N D F I R E P E N S I O N F U N D A D V I S O R Y C O M M I T T E E M E E T I N G S U M M A R Y O C T O B E R 1 1, Page 5 2. Benefit Correction Policy Update Lawsikia Hodges said that she and Bob Sugarman have been discussing this policy, and are currently working on it. She said that the policy, once completed, would come back to the Advisory Committee. Bob Sugarman said that Rounsville has requested an appeal, and that the Fund Counsel is dealing with Rounsville s lawyer. James Holderfield added that Michael Rounsville s pension wouldn t start until 2019, so there is some time left to deal with this issue. VII. EXECUTIVE DIRECTOR S REPORT Timothy Johnson 1. Election Update Timothy Johnson said that the PFPF is now administering the timeline of the election which was presented to the Board. He said that all members have been notified to qualify if they are interested in running for a seat on the Advisory Committee or Board of Trustees. He outlined the qualification notices sent: 1 notice to active Police for the 3 Police Advisory Committee Members; 1 notice to active Police for the Police Trustee Member; 1 notice to active Firefighters for the 3 Firefighter Advisory Committee Members; 1 notice to active Firefighters for the Firefighter Trustee Member; 1 notice to retirees for the Retired Advisory Committee Member Steve Lundy said that the qualification forms are ready at the front desk for the Advisory Committee members to fill out if they are interested in running for reelection. Timothy Johnson read his draft election rules which will be presented to the Board of Trustees at their October 20 th meeting. 2. Bailiff Time Service Connections Update Timothy Johnson said that the PFPF started accepting Time Service Connection (TSC) applications from former Bailiffs wishing to connect time served as a Bailiff. He said that these
15 P O L I C E A N D F I R E P E N S I O N F U N D A D V I S O R Y C O M M I T T E E M E E T I N G S U M M A R Y O C T O B E R 1 1, Page 6 applications give these members a spot in the line to make their TSCs as the PFPF works with OGC, Employee Services, and JSO HR to develop a policy for administering the TSCs. Timothy Johnson informed the Advisory Committee that the Financial Investment and Advisory Committee (FIAC) will be going through public records and ethics training at their meeting on October 13 th. He said that the Advisory Committee may hold one of these training sessions next year if they would like. Michael Lynch asked for a Chapter Fund status update. Timothy Johnson said that the State Report was submitted in September, and that the PFPF staff is talking with Tallahassee daily. He said that he hopes to have before the October 20 th Board Meeting a date at which the PFPF could anticipate the State s release of the report. Michael Lynch asked why the PFPF does not specify beneficiaries other than the spouse of Members as they relate to the payment of remaining DROP account balances upon the Members deaths. Lawsikia Hodges read from the ordinance code, which states that if there is no surviving spouse, a Member s remaining balance in the DROP account must go to the estate of the deceased Member. Lawsikia Hodges said that an ordinance change would be necessary to change that policy. Bob Sugarman agreed, saying that an ordinance change would be necessary to keep the DROP money from going to probate. VIII. NEW BUSINESS IX. NEXT MEETING Wednesday, November 8, 2017 at 9:00AM X. ADJOURNMENT Chairman James Holderfield adjourned the meeting at 9:43AM. NOTES:
16 P O L I C E A N D F I R E P E N S I O N F U N D A D V I S O R Y C O M M I T T E E M E E T I N G S U M M A R Y O C T O B E R 1 1, Page 7 Any person requiring a special accommodation to participate in the meeting because of disability shall contact Steve Lundy, Assistant Plan Administrator, at (904) , at least five business days in advance of the meeting to make appropriate arrangements. The public meeting may be continued to a date, time, and place to be specified on the record at the meeting. If any person decides to appeal any decision made with respect to any matter considered at this public meeting such person will need to a record of proceedings, and for such purpose such person may need to ensure that a verbatim record of the proceedings is made at their own expense and that such record includes the testimony and evidence on which the appeal is based. Additional items may be added / changed prior to meeting. SL James Holderfield, Chairman To be approved at the Advisory Committee Meeting on November 8, 2017
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157 Outstanding Opinions Office of General Counsel Opinion Date of Request Date Received (Expected) Reemployment Affidavit 2/8/2017 (TBD) Benefit Correction / Appeal Policy 4/12/2017 (TBD) Letters to Unions 7/20/17 Investment Consultant & Custodian Contract Extension 8/18/2017 (TBD)
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159 ELECTION 2017 ELECTION Due to the expiration of terms on the Advisory Committee and Board of Trustees on December 31, 2017, an election must be held for the seats listed below. PFPF ADVISORY COMMITTEE The three Police Advisory Committee Member Candidates and the three Fire Advisory Committee Member Candidates ran unopposed and are deemed elected. As a result of Ordinance , the terms of the three Police Advisory Committee Members and the three Fire Advisory Committee Members have been staggered by 2, 3, and 4-years, to begin January 1, An election must be held in order to determine the term lengths assigned to each Active Advisory Member Candidate. Active Police will vote to determine the terms for each of the three Police Advisory Committee Member Candidates, and Active Firefighters will vote to determine the terms for each of the three Fire Advisory Committee Member Candidates. The link to the secured voting site will be posted here on this page on November 15th, 2017, and voting will be open until November 29th, 2017 at 4PM. PFPF retirees will vote in an election by mail to determine the winner of the Retired Advisory Committee Member. Retirees should receive their ballot by mail by November 15th, 2017, and will have until November 27th, 2017 to return their ballots by mail. ACTIVE MEMBER SEATS POLICE ADVISORY COMMITTEE MEMBER CANDIDATES DEEMED ELECTED / BIOs James A. Holderfield The Chairman of the Pension Advisory Committee, James is a second generation member of the Jacksonville Sheriff s Office and is currently assigned to the Auto
160 Crimes Unit. He holds a Philosophy degree from the University of Central Florida. With a background in corporate management and serving several local non-profits, James brings indispensable financial knowledge to the Committee. He has tirelessly worked for the members of the Police and Fire Pension Fund over the past four years. James looks forward to the opportunity to continue to serve the active and retired members of the PFPF. POLICE ADVISORY COMMITTEE MEMBER Michael Christopher Pelletier Our pension fund closed October 1 st, 2017 to new members. I will have a continued and vested interest in the management of our fund. As our membership pool continues to become reduced, it is imperative to maintain a motivated committee. I have been with been JSO for 11 years. I worked Zone 5 prior to my current assignment with the Canine Unit. I am also a nine year member of the JSO Honor Guard. Prior to joining the JSO I served the in the United States Marine Corps, owned a small business and earned an A.A. degree from FSCJ. POLICE ADVISORY COMMITTEE MEMBER Michael Shell As a current member of the Advisory Committee, it has been
161 an honor serving this prior term. With less than fifteen years on the department, I have a vested interest in ensuring sound advice continues to be provided to the fund Trustees. Each and every decision I have made while on the Advisory Committee has been made with the best interest of the Fund and the Fund s members at heart and I promise to continue that track record. Even though the Fund is closed to new members, there is still much work to be done to secure our future. FIRE ADVISORY COMMITTEE MEMBER Jean F. Paravisini I believe the PFPF Advisory Committee should consist of members with a wide range of rank and time in order to provide accurate and broad information to the trustees. I have 8 years on the JFRD and am interested in helping to maintain the benefits we have worked so hard to secure. I look forward to serving the members of PFPF and humbly ask for your vote. Thank you, Jean F. Paravisini Engineer, E-44B FIRE ADVISORY COMMITTEE MEMBER Richard A. Reichard Education: Bishop Kenny H.S Columbia Southern University
162 A.A.2014 (Currently finishing my BS in Public Administration at Barry U and will graduate in the spring) In 1994 I was hired by Jacksonville Fire Rescue as a firefighter. Since my first day of work I cannot begin to tell you how much this Fire Department has meant to me. It would be a great Honor and Privilege for me to be able to represent our members on the Advisory Board and I hope you will consider my request. Professionally, Assistant Chief Richard A. Reichard FIRE ADVISORY COMMITTEE MEMBER Christopher W. Stover My name is Christopher Stover. I have been a member of the Pension Advisory Committee since April I was born and raised in Jacksonville, FL and have served the citizens since joining the Jacksonville Fire and Rescue Department in I was promoted to Engineer in 2009 and Lieutenant in I m currently assigned to Engine 22-B. I m working towards my Associate s Degree in Fire Science. I m looking forward to continuing my work with the Advisory Committee and Staff
163 for years to come. RETIRED MEMBER SEAT RETIRED ADVISORY COMMITTEE MEMBER CANDIDATES / BIOs Thomas L. Lumpkin A local High School Graduate and decorated USAF Veteran of Southeast Asia. A retired 22-year veteran of the JSO that worked and excelled in the Patrol, Detective and Intelligence Units. After retirement, he accepted a position with a top Fortune 500 Company, JM Family Enterprises, where he was promoted to Corporate Security Manager and retired after eighteen years. He also earned a BA degree from UNF and MA degree from Webster University. Past President Morocco Shriner s International, Past President Retired Employees Association COJ ( ). Current member; FOP, NARC and First Coast Crime Stoppers BOD. I appreciate your support and vote. Scott Watzlawick Scott recently retired from the Jacksonville Sheriff s Office after twenty-nine years of dedicated service. He currently is a member of the Executive Board for the Fraternal Order of Police Lodge 5-30 and holds a position on the Board of Trustees. He regularly
164 attends business meetings on the local and state level, learning and making suggestions to better the organization. He is particularly interested in preserving the current benefits of our retirees and current employees who are members of the Police and Fire Pension Fund. Scott is dedicated to our membership and the preservation of our benefits. PFPF BOARD OF TRUSTEES The Police Trustee Member Candidate and the Fire Trustee Member Candidate ran unopposed and are deemed elected. The terms are for 4 years, and begin January 1, ACTIVE MEMBER SEATS CANDIDATES DEEMED ELECTED POLICE TRUSTEE MEMBER Lt. Christopher Brown FIRE TRUSTEE MEMBER Cpt. Michael Lynch
165 JACKSONVILLE POLICE AND FIRE PENSION FUND RETIRED ADVISORY COMMITTEE MEMBER ELECTION BALLOT ATTENTION RETIREES OF THE JACKSONVILLE POLICE AND FIRE PENSION FUND: It is time to elect your Retired Pension Advisory Committee Member. Please follow the voting instructions listed below. INSTRUCTIONS: Please check only one of the following choices. After you have made your selection, please insert this ballot in the return envelope provided and place it in the mail. IMPORTANT: This ballot must be returned in the envelope provided and postmarked no later than November 27, 2017 to be counted. RETIRED ADVISORY COMMITTEE MEMBER: (please select one name only) THOMAS L. LUMPKIN SCOTT WATZLAWICK YOUR VOTE IS IMPORTANT! If you have any questions regarding the election process, please contact Steve Lundy, Assistant Plan Administrator, at (904) ABC1234
166
167 October 20, 2017 Mr. Timothy Johnson Executive Director Jacksonville Police and Fire Pension Fund One West Adams Street, Suite 100 Jacksonville, FL Re: Jacksonville Police and Fire Pension Fund Retroactive Benefits Study for Group 1B Retirees Dear Tim: As requested, we have completed our study to determine the impact of retroactively revising retirement benefits for recent retirees of the Jacksonville Police and Fire Pension Fund (Fund) who retired under the terms of Ordinance E. The results of our analysis (for each affected retiree and in the aggregate) are presented in the attached exhibit. The results are based on the census data and additional information collected from the Pension Fund Administrator for each affected retiree as of July 1, As a result of Ordinance E, Group I members with less than 20 years of service as of June 19, 2015 ( Group 1B ), were eligible for a cost of living adjustment (COLA) of 3% annually (each January 1 st ) applied to benefits based on service accrued as of June 19, 2015 and the Social Security COLA (not to exceed 6.0%) applied to benefits based on service accrued after June 19, Additionally, Group 1B members who elected to enter the DROP received interest credits each calendar year based on the plan s actual rate of return during the preceding fiscal year, with a minimum interest of 2% and maximum of 14.4%. Ordinance amended the Fund such that all members, including members who retired or entered the DROP after June 19, 2015 under the terms of Ordinance E, are eligible for the benefits which were in place prior to the adoption of Ordinance E. This includes an annual COLA of 3% (each January 1 st ), beginning with the first January following commencement of benefits, and a fixed annual DROP interest crediting rate 8.4%. We have included six retirees in our analysis who were identified as Group 1A (members who had at least 20 years of service as of June 19, 2015), but who received a COLA of less than 3% in each January since they retired.
168 Mr. Timothy Johnson October 20, 2017 Page 2 Summary of Findings The impact of revising pension benefits to reflect a full 3% annual COLA (in each January since retirement or DROP entry occurred) is an increase in pension benefits of approximately $5,469 per year ($456 per month or $210 per biweekly pension payment) as of July 1, The total increase in accumulated DROP Balances, reflecting the full 3% annual COLA and the 8.4% DROP interest crediting rate) is approximately $26,000 as of July 1, The total impact on the Fund s actuarial accrued liabilities of making these adjustments as of July 1, 2017 is approximately $136,000. Using a 30 year amortization period, this liability increase will cause the City s annual contribution requirement to increase by approximately $9,300. Disclosures This information was prepared at the request of Jacksonville Police and Fire Pension Fund and is intended for use by the Jacksonville Police and Fire Pension Fund and those designated or approved by the Fund. This report may be provided to parties other than the Fund only in its entirety and only with the permission of the Board of Trustees. The purpose of this report is to describe the financial impact of the retroactive pension benefit adjustments both on the Pension Fund and for individual members. This report should not be relied on for any purpose other than the purpose described above. We are neither attorneys nor legal professionals, and the above information should not be construed as legal advice or opinion. Calculations for the DROP balance reflect bi weekly payments and the Fund s interest crediting method: for Phase 1 members (DROP members in active employment), interest is credited on the prior month s ending balance at an interest rate of % per month (8.25% divided by 12); for Phase II members (DROP members who have begun receiving monthly distributions), interest is credited on the prior biweekly period s ending balance at an interest rate of % per two weeks (8.40% divided by 26). The total impact on the actuarial accrued liability was calculated as of July 1, Our calculations reflect the use of the Fund s current actuarial valuation assumptions, including a 7.00% discount rate; the same mortality rates as currently in use by the Florida Retirement System (the RP 2000 Mortality Table for Annuitants with a 90% blue collar adjustment and a 10% white collar adjustment for males and a 100% white collar adjustment for females, with mortality improvements projected to all future years after 2000 using Scale BB); and DROP Load Assumptions as discussed in the DROP Interest Study dated September 28, The results in this report are based on census data and additional information collected from the Pension Fund Administrator for each affected retiree as of July 1, We reviewed this information for reasonability, but did not audit the data. We are not responsible for the accuracy or completeness
169 Mr. Timothy Johnson October 20, 2017 Page 3 of this information. Please refer to the Actuarial Valuation report, as prepared by Pension Board Consultants, Inc., dated January 18, 2017, the Actuarial Impact Statement for Ordinance Nos and , dated April 19, 2017, and the DROP Interest Study, dated September 28, 2017 for a description of all actuarial assumptions, methods and disclosures. This report has been prepared by actuaries who have substantial experience valuing public employee retirement systems. To the best of our knowledge the information contained in this report is accurate and fairly presents the actuarial position of the Jacksonville Police and Fire Pension Fund. All calculations have been made in conformity with generally accepted actuarial principles and practices, and with the Actuarial Standards of Practice issued by the Actuarial Standards Board and with applicable statues. This communication shall not be construed to provide tax advice, legal advice or investment advice. Peter N. Strong and Jeffrey Amrose are members of the American Academy of Actuaries and meet the Qualification Standards of the American Academy of Actuaries to render the actuarial opinions contained herein. The signing actuaries are independent of the plan sponsor. We welcome your questions and comments. Respectfully submitted, Peter N. Strong, FSA, MAAA, FCA Senior Consultant and Actuary Jeffrey Amrose, MAAA, FCA Senior Consultant and Actuary Enclosure
170 Jacksonville Police and Fire Pension Fund Impact of Retroactive Benefit Adjustments as of July 1, 2017 as a Result of Ordinance No. Group Name Status at 7/1/2017 Date of Retirement DROP Exit Date Bi Weekly Base Amount Bi Weekly Supplemental Amount Increases in Base Amount (COLAs) Total Current Bi Weekly Benefit Current DROP Balance as of 7/1/2017 or DROP Exit Revised COLA Increases (3.0%) Total Revised Bi Weekly Benefit Revised DROP Balance at 7/1/2017 or DROP Exit Retiree Back Payments Owed as of 7/1/ Fire ACOSTA, JOSEPH E. DROP 1/2/2016 1, , , , , N/A , Police ALLEY, RICKY R. DROP 4/9/2016 1, , , , , N/A , Fire ARCENEAUX, KENT A. DROP 4/8/2017 1, , , , , N/A (10.38) (12.86) 4. Police ASHENFELDER, RUSS C. DROP 1/14/2017 1, , , , , N/A (58.35) (72.06) 5. Police BAKER, DAVID B. DROP 10/8/2016 1, , , , , N/A 2.38 (84.26) 1, Fire BINDER, MICHAEL A. DROP 10/8/2016 1, , , , , N/A 2.88 (101.65) 1, Fire BOLEY, BRAD E. DROP 4/9/2016 1, , , , , N/A Police BOWLING, ERIN K. DROP 4/8/2017 1, , , , , N/A (8.56) (10.61) 9. Police BOYD, DAVID Retiree 4/9/2016 1/13/2017 1, , , , , , Police BOYER, LENELL A. DROP 1/2/2016 1, , , , , N/A , Police BROWN, CURTIS J. DROP 1/2/2016 1, , , , , N/A , Police BROWN, JEFFREY W. DROP 1/2/2016 1, , , , , N/A , Police BROWN, STEVEN L. DROP 1/14/2017 1, , , , , N/A (55.69) (68.78) 14. Police CALLAHAN, TRUDY L. DROP 10/8/2016 2, , , , , N/A 3.40 (120.11) 1, Police CARNES, ANDREW B. DROP 4/8/2017 1, , , , , N/A (10.98) (13.61) 16. Fire CARTER, MICHAEL D. DROP 4/8/2017 1, , , , , N/A (8.93) (11.07) 17. Police CARTER, ROXANNE J. DROP 7/2/2016 1, , , , , N/A , Police CATIR, DAVID W. DROP 10/8/2016 1, , , , , N/A 2.84 (80.49) 1, Police CHIZIK, MITCHELL P. DROP 1/14/2017 1, , , , , N/A (54.63) (67.47) 20. Police CLARK, GLORIA W. DROP 10/8/2016 1, , , , , N/A 2.82 (80.07) 1, Fire COCKMAN, BILLY C. DROP 1/2/2016 2, , , , , N/A , , Police CREWS, DAVID L. DROP 10/8/2016 1, , , , , N/A 2.37 (83.94) 1, Fire CROOMS, STEPHEN A. DROP 1/2/2016 1, , , , , N/A , Police CUSATTI, RITA S. DROP 4/8/2017 1, , , , , N/A (8.83) (10.94) 25. Fire DAVIS, JAMES D. DROP 1/2/2016 1, , , , , N/A , Fire DENMAN, BRYAN S. DROP 1/14/2017 2, , , , , N/A (75.09) (92.74) 27. Fire DOSHIER, ANTHONY F. DROP 10/8/2016 1, , , , , N/A 3.09 (109.26) 1, Fire DOUCETTE, RICHARD R. DROP 4/8/2017 1, , , , , N/A (7.89) (9.78) 29. Fire DUNKLEY, DANIEL W. DROP 4/8/2017 1, , , , , N/A (8.20) (10.16) 30. Fire ELLISON, TRACY M. DROP 10/8/2016 1, , , , , N/A 2.59 (92.04) 1, Fire ETHRIDGE, MICAH L. DROP 1/14/2017 1, , , , , N/A (60.66) (74.92) 32. Police FARHAT, JOSEPH V. DROP 4/8/2017 1, , , , , N/A (8.74) (10.83) 33. Police FEACHER, RODERIC D. DROP 10/8/2016 1, , , , , N/A 3.37 (95.98) 1, Fire FIELLIN, KURT K. DROP 4/8/2017 1, , , , , N/A (10.53) (13.05) 35. Police FOWLER, TANYA M. DROP 4/8/2017 1, , , , , N/A (8.80) (10.90) Total Increase in Bi Weekly Benefit Increase in DROP Balance as of 7/1/2017 Impact on Actuarial Accrued Liability* Prepared by Gabriel, Roeder, Smith and Company October 20, 2017 Page 4
171 Jacksonville Police and Fire Pension Fund Impact of Retroactive Benefit Adjustments as of July 1, 2017 as a Result of Ordinance No. Group Name Status at 7/1/2017 Date of Retirement DROP Exit Date Bi Weekly Base Amount Bi Weekly Supplemental Amount Increases in Base Amount (COLAs) Total Current Bi Weekly Benefit Current DROP Balance as of 7/1/2017 or DROP Exit Revised COLA Increases (3.0%) Total Revised Bi Weekly Benefit Revised DROP Balance at 7/1/2017 or DROP Exit Retiree Back Payments Owed as of 7/1/ Police GARCIA, JON R. DROP 7/2/2016 1, , , , , N/A , Fire GEIGER, CASEY B. DROP 4/8/2017 1, , , , , N/A (10.27) (12.73) 38. Police GEIGER, KEITH A. DROP 1/2/2016 1, , , , , N/A , Police GIBSON, ANNMARIE DROP 10/8/2016 1, , , , , N/A 2.48 (87.66) 1, Police GODFREY, DENNIS J. DROP 1/14/2017 1, , , , , N/A (55.87) (69.00) 41. Police GOLINO, KEVIN A. DROP 4/9/2016 1, , , , , N/A , Fire GRAF, RICHARD J. DROP 1/14/2017 1, , , , , N/A (65.37) (80.73) 43. Fire GRANT, JAMES S. DROP 4/8/2017 2, , , , , N/A (12.47) (15.45) 44. Fire GRAY, DAVID Disability 8/12/2016 1, , , , Police GREEN, MARK B. DROP 1/14/2017 1, , , , , N/A (57.02) (70.42) 46. Police GRINBERG, GOLAN T. DROP 4/9/2016 1, , , , , N/A , Police GWYNES, JACK Retiree 10/10/2015 1, , , , Fire HAGAN, PHILIP W. DROP 1/14/2017 1, , , , , N/A (72.75) (89.85) 49. Fire HARDEE, MICHAEL J. DROP 4/9/2016 1, , , , , N/A , Police HARRIS, KARL Retiree 10/10/2015 5/5/2017 1, , , , , , , Fire HARROLD, ANDREW C. DROP 7/2/2016 2, , , , , N/A , Fire HEATON, JAMES R. DROP 1/14/2017 1, , , , , N/A (56.54) (69.83) 53. Fire HELD, WILLIAM P. DROP 4/9/2016 2, , , , , N/A , Police HEMSLEY, THOMAS L. DROP 4/8/2017 1, , , , , N/A (9.58) (11.87) 55. Police HIGHTOWER, TERRANCE R. DROP 1/2/2016 1, , , , , N/A , Police HODGES, MICHAEL E. DROP 4/9/2016 1, , , , , N/A , Police HOLLINS, BERTRAND L. DROP 4/8/2017 1, , , , , N/A (8.56) (10.61) 58. Police HOUSTON, JEFFREY A. DROP 1/14/2017 1, , , , , N/A (55.35) (68.36) 59. Fire HULTQUIST, SHAWN L. DROP 1/14/2017 1, , , , , N/A (57.55) (71.08) 60. Police JOHNSON, DANIEL P. DROP 4/9/2016 1, , , , , N/A , Police JOHNSON, MICHAEL B. Deceased 7/2/2016 4/14/2017 1, , , , , N/A Police JONES, ERIC L. DROP 4/8/2017 1, , , , , N/A (8.86) (10.98) 63. Police KEA, NOLAN J. DROP 1/2/2016 1, , , , , N/A , Police KENNEY, DANIEL B. DROP 4/9/2016 2, , , , , N/A , Police KIEFFER, KEVIN M. DROP 1/14/2017 1, , , , , N/A (57.47) (70.98) 66. Police LEDERMAN, JASON E. DROP 7/2/2016 1, , , , , N/A , Police MADDOX, ERIC D. DROP 7/2/2016 1, , , , , N/A , Fire MAGILL, JIMMY A. DROP 4/8/2017 1, , , , , N/A (10.84) (13.43) 69. Police MANN, TIM D. DROP 1/2/2016 1, , , , , N/A , Fire MARTI, DAVID W. DROP 4/8/2017 1, , , , , N/A (8.54) (10.58) Total Increase in Bi Weekly Benefit Increase in DROP Balance as of 7/1/2017 Impact on Actuarial Accrued Liability* Prepared by Gabriel, Roeder, Smith and Company October 20, 2017 Page 5
172 Jacksonville Police and Fire Pension Fund Impact of Retroactive Benefit Adjustments as of July 1, 2017 as a Result of Ordinance No. Group Name Status at 7/1/2017 Date of Retirement DROP Exit Date Bi Weekly Base Amount Bi Weekly Supplemental Amount Increases in Base Amount (COLAs) Total Current Bi Weekly Benefit Current DROP Balance as of 7/1/2017 or DROP Exit Revised COLA Increases (3.0%) Total Revised Bi Weekly Benefit Revised DROP Balance at 7/1/2017 or DROP Exit Retiree Back Payments Owed as of 7/1/ Police MARTIN, THOMAS L. DROP 4/9/2016 1, , , , , N/A , Fire MCPHILOMY, JAIME D. DROP 1/14/2017 1, , , , , N/A (66.65) (82.32) 73. Police MESH, MINDY L. DROP 1/14/2017 1, , , , , N/A (54.32) (67.09) 74. Police MILLS, JAMES D. DROP 4/8/2017 1, , , , , N/A (9.00) (11.15) 75. Fire MIZERAS, BRADLEY S. DROP 7/2/2016 1, , , , , N/A , Fire MORRIS, GERALD W. DROP 1/2/2016 1, , , , , N/A , Police MULLEN, STEVE H. DROP 1/2/2016 2, , , , , N/A , , Police NICOLETTO, JOSEPH L. DROP 4/9/2016 1, , , , , N/A , Police O'DONNELL, WILLIAM F. DROP 4/8/2017 1, , , , , N/A (9.13) (11.31) 80. Police PARRALES, CESAR M. DROP 4/9/2016 1, , , , , N/A , Fire PAUSCHE, WALTER S. DROP 4/8/2017 1, , , , , N/A (8.14) (10.09) 82. Police PELLOT, DENNIS E. DROP 10/8/2016 1, , , , , N/A 3.32 (94.46) 1, Police PFISTER, SHANNON L. DROP 10/8/2016 1, , , , , N/A 2.93 (83.35) 1, Fire PICKERING, SHARON K. DROP 4/8/2017 1, , , , , N/A (60.02) (74.37) 85. Police PORTER, TONYA F. DROP 1/14/2017 1, , , , , N/A (57.07) (70.48) 86. Police POWELL, JAMES D. DROP 10/10/2015 1, , , , , N/A , , Police PRESTI, PETER M. DROP 1/14/2017 1, , , , , N/A (69.33) (85.63) 88. Police PREVOST, JOHN T. DROP 7/2/2016 1, , , , , N/A , Police PRICE, BRYAN N. DROP 1/2/2016 1, , , , , N/A , Police PURSELL, BRADEN D. DROP 10/10/2015 1, , , , , N/A , , Police RAGASA, RAINIEL J. DROP 1/14/2017 1, , , , , N/A (57.95) (71.57) 92. Fire REYES, JOSEPH DROP 1/2/2016 1, , , , , N/A , Police RHATIGAN, MARGARET M. DROP 4/9/2016 1, , , , , N/A , Fire ROATH, RONNIE W. DROP 1/2/2016 1, , , , , N/A , Police ROBBINS, JAMES N. DROP 10/10/2015 1, , , , , N/A , , Police RUSSO, STEVEN S. DROP 4/8/2017 1, , , , , N/A (9.15) (11.34) 97. Police SANTORO, RICHARD C. DROP 4/9/2016 1, , , , , N/A , Police SCHLESIER, ROGER B. DROP 4/9/2016 1, , , , , N/A , Police SCHMUCKER, LISA M. DROP 4/8/2017 1, , , , , N/A (8.97) (11.12) 100. Fire SESSIONS, ANTHONY S. DROP 4/8/2017 1, , , , , N/A (9.11) (11.29) 101. Police SHARP, GREGORY G. DROP 4/8/2017 1, , , , , N/A (9.52) (11.80) 102. Fire SHELDON, RICHARD Disability 7/20/2016 1, , , , Police SHORE, BRIAN J. DROP 4/8/2017 2, , , , , N/A (11.76) (14.57) 104. Police SIMMONS, ROSCOE G. DROP 4/8/2017 1, , , , , N/A (10.43) (12.92) 105. Police SMITH, BRADLEY R. DROP 10/8/2016 1, , , , , N/A 2.85 (80.83) 1, Total Increase in Bi Weekly Benefit Increase in DROP Balance as of 7/1/2017 Impact on Actuarial Accrued Liability* Prepared by Gabriel, Roeder, Smith and Company October 20, 2017 Page 6
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