Book 1 Page 82 11/8/2017 9:00 a.m. MINUTES OF THE CITY OF SARASOTA FIREFIGHTERS PENSION PLAN BOARD OF TRUSTEES SPECIAL MEETING OF NOVEMBER 8, 2017 Present: Chair Michael Hartley, Vice Chair Shelia Roberson, Trustees Charles Joseph and Scott Snow Others: Pension Plans Administrator Cynthia Akersloot, Senior Pension Analyst Anthony Ferrer, Senior Pension Accountant Aaron Brooks and Pension Specialist Lois Belle Absent: Secretary/Treasurer Pamela Nadalini 1. CALL THE MEETING TO ORDER: Chair Hartley called the meeting to order at 9:00 a.m. 2. PLEDGE OF CIMILITY: The Pledge of Civility was not read into the reçord for the Special meeting. 3. PUBLICINPUT: No one signed up to speak. 4. SHARE LOAN REQUEST: 4.1. Approval Re: Share Loan Request of Gregory Garrison Presenter(s): Pension Plans Administrator. Akersloot Pension Plans Administrator Akersloot stated that Mr. Garrison has requested the maximum amount of Share Loan, which is $50,000; that he has an outstanding loan of $28,254.69; that procedure is that he must repay the outstanding loan so the proceeds to Mr. Garrison will be $21,745.31 after the repayment. In response to a question by Chair Hartley asking for confirmation of the maximum amount available as noted under C.1.a., Pension Plans Administrator Akersloot confirmed the maximum amount available is $50,000 to Mr. Garrison. In response to a question by Chair Hartley asking what the procedure is to repay Mr. Garrison's existing loan, Pension Plans Administrator. Akersloot confirmed the new monthly repayment amounts will be paid through the Sarasota County payroll deduction and be remitted to the Firefighters' Pension Plan Payroll Account. Trustee Snow asking about the timing of the Share Loan request and wanted such noted on the record. In response to a question by Vice Chair Roberson asking for confirmation of the figures provided, Pension Plans Administrator. Akersloot confirmed the figures were thoroughly reviewed. A motion was made by Trustee Joseph and seconded by Vice Chair Roberson to accept the Share Loan Request of Gregory Garrison. Motion carried unanimously (4-0). 5. OTHER MATTERS: Pension Plans Administrator Akersloot requested an excused absence for Secretary/Treasurer Nadalini and Chair Hartley sO noted. Chair Harley stated that the next Firefighters' Pension Plan Board of Trustee regular meeting is December 6, 2017. Vice Chair Roberson requested status update of Sensitivity Analysis to reduce rate of expected return from Plan's Senior Actuary, Brad Armstrong, Gabriel Roeder Smith & Company; that the Sensitivity Analysis is targeted to arrive around November 20, 2017 and the Board would like to have prior to the Firefighters' Pension Plan Board of Trustee regular meeting on December 6, 2017; that Pension staff will follow up and provide as soon as available. Discussion ensued about the different investment opportunities such as farmland, timber and MLP space. 6. ADJOURN. Chair Hartley adjourned the Regular Meeting oft the Firefighters Pension Plan Board of Trustees at 9:06 a.m. Bann holn Chair Michael Hartley Vice Chair Shelia Roberson Book 1 Page 83 11/8/2017 9:00 a.m.