MINUTES OF THE JUNE 17, 2016 CITY OF SARASOTA FIREFIGHTERS PENSION PLAN BOARD OF TRUSTEES SPECIAL MEETING Present: Vice Chair Shelia Roberson, Secretary/Treasurer Pamela Nadalini, and Trustees Charles Joseph and Scott Snow Others: Attorney Pedro Herrera, Pension Plans Administrator Harry Ramphal, Senior Pension Analyst Anthony Ferrer, and Pension Specialist Chinyere Deehan Absent: Chair Michael Hartley 1. CALL THE MEETING TO ORDER: Vice Chair Roberson called the meeting to order at 11:01 a.m. 2. PLEDGE OF CIVILITY: Vice Chair Roberson read into the record a memorandum from Mayor Willie Charles Shaw, dated February 13, 2015, entitled "City Commission and Advisory Board Meeting Protocols and Pledge of Civility". 3. PUBLICINPUT: None. 4. UNFINISHED BUSINESS: 4.1. Continued Discussion Re: Brian Beauchamp's Entitlement to Distribution from Share Account Pension Plans Administrator Ramphal stated that the plan's actuaries have submitted the numbers for Brian Beauchamp's entitlement to distribution from the share account, which came to $71,394.97. Attorney Herrera stated that he had no concerns with the amount of Mr. Beauchamp's entitlement; that the interest applied of 5% by the actuary is reasonable in his opinion based on the historical return of the portfolio. Brian Beauchamp and Attorney George Dramis, Band, Gates & Dramis, came to the Board and in response to Trustee Joseph's question regarding whether Mr. Beauchamp was entitled to a share check when he terminated employment with the City of Sarasota or when hei fully retired, Attorney Dramis stated that Mr. Beauchamp would be entitled to the share check at the time of disbursement every year, around September 30. Secretary/Treasurer Nadalini stated that she also feels that the 5% interest applied to Mr. Beauchamp's share distribution is reasonable; that she is supportive of the schedule that the actuary presented which outlined the 5% accumulated interest. There was consensus that the 5% interest applied to Mr. Beauchamp's share distribution was reasonable. A motion was made by Secretary/Treasurer Nadalini, seconded by Trustee Snow, to approve the final benefit calculated by Gabriel, Roeder, Smith & Company, including the 5% accumulated interest applied for Brian Beauchamp. Motion carried unanimously (4-0). Book 1 Page 29 06/17/16 11:00 A.M. Book 1 Page 30 06/17/16 11:00 A.M. 5. ATTORNEY MATTERS: None. 6. OTHERI MATTERS: Discussion ensued regarding notice of meetings. 7. ADJOURN. Vice Chair Roberson adjourned the Firefighters Pension Plan Board of Trustees Regular meeting at 11:25 a.m. Sbsh Rihus Vonye Vice Chair Shelia Roberson SecretaryTreasurer Pamela M. Nadalini