I'm going to go the meeting of the city of Edgwater I was looking for the one that I was going to use. Okay I'm reading all the comments. If you need to be favorite check and see a picture of the intense human, I'll take about the time. I'd also send a email. That's my Twitter call number. I'll say similar comments. We can go ahead and move on to a few more minutes. and then it to ask you a question. I'm going to ask you a question. I'm going to ask you a question. I'm going to ask you a question. I'm going to ask you a question. I'm going to ask you a question. I'm going to ask you a question. I'm going to ask you a question. I'm going to ask you got you. So we want to be business. business. So basically, Ron is in one of our boards and we have an open for the city, the council of the city. I've been discussing with the council that I'm anybody right now. So if you're anybody that would pick that more, have them get in touch with the city, so we can try to fill that just in case you guys have a call right now. It's gone out for the city. Yeah, I think that's the way that the city can sit with the most likely necessary. It's contact, they'll walk into the process, put it through council. All right, perfect. I just just not projecting up. Okay. Okay. Okay. So moving on to the next one is Trustee term exploration. So David, as the fifth Trustee is coming and give the boys opportunity to, once he's assigned to the reappointment. Okay. So, we'll go to your students, you can't, you know that? That's interesting. One of them. Okay. Okay moving on to reports foster foster Doug Losen. Doug can you hear me? I'm going to get you a little bit, uh, because that mic on over there. Make sure this mic is on. Okay, Dogga, thank you. Good to go. Okay, just let me know if I don't come through. Hey guys, sorry I'm not there. I'll be there in June to present evaluation. But I thought it would work me jumping on the phone today to answer any questions about this cost study that we just delivered. Okay. I'm assuming you have it in front of you. Yes. Okay. High level, we were asked to look at a couple of options of improving the multiplier to either 3.25% or 3.5% and either from this point forward or back to data higher and also looking at possibly reducing member contributions. So if you look at the last page, it shows all the numbers and I'll give you an idea of how it's read. For instance, if you look at scenario A, we would increase the multiplier, the benefit of the cruel rate from 3 to 3 and a quarter, but only from 2024 and forward. And if the city agreed to that, then the contribution rate, you can see what goes from 22 and a half percent to 23.6. That would be about $25,000 per year or so, give or take. So you can see the other scenarios are very similar. I'm not going to go over all the details and those. I will give you item D, which is the most expensive. And that would be to take the multiplier to three and a half all the way back to data higher for all of the active firefighters. And that would cost about $150,000 per year. So here two, just kind of go over those scenarios and answer any questions if there are. Just by looking at what I'm looking at, is there any way to figure out just based off of this information, that dollar amount that you just stated for both Option A and D. A and which one? Delta. A and the ones that stay now eight A B C and D you don't combine those are all standalone right, but you just said Values what the city would need to Be annually Is there a way of figuring that out or that's something that you just have to tell us? Oh, I see. Yeah. Hey, Roll right now is about 2.5 million. So you would take the difference in the contribution right between current and whichever scenario you wanted and multiply it by 2.5 million. Perfect. Thank you. So we could hypothetically calculate that our sales have been wanted to by looking at the budget and payroll times those percentages and the difference between the two would be the increase correct above 22.5. That is correct. Correct. Now little disclosure here is that these items are based on the 23 valuation and I'll be presenting the 24 report in June. But I will tell you the 24 report is basically the same as 23. There's very little change. Thanks, Doug. Yeah, for sure. Thank you. Okay, if there are questions, just stood on my way between now and June. Otherwise, I'll see you guys in a couple of months. All right, sir, thanks, Doug. Take care. Thank you. Moving on, we have Bowen Haynes, we have David Kelly. I'm working to have a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a little bit of a discussion. I'm going to have a little bit of a discussion. I'm going to have a little bit of a discussion. I'm going to have a little bit of a discussion. I'm going to have a little bit of a discussion. I'm going to have a little bit of a discussion. I'm going to have a little bit of a discussion. I'm going to have a little bit of a discussion. I'm going to have a little bit of a discussion. If you were a relation, I think you're an energy sachet, and you're a source of energy, and you're a high-scarce energy source. And you're a source of energy. I'm going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be I'm not going to be able to do it. I'm not going to be able to do it. I'm not going to be able to do it. I'm not going to be able to do it. I'm not going to be able to do it. I'm not going to be able to do it. I'm not going to be able to do it. I'm not going to be able to do it. I'm not going to be able to do it. We know the way to work with the students, so we decided to make a decision. So we decided to take that time to make sure that we... I'm going to go to the green line right for you. That's what we saw in the last section. I'm going to change the whole thing. I'm going to take that line. I'm going to show you how I do that. I'm going to show you how I do that. I'm going to show you how I do that. I'm going to show you how I do that. I'm going to show you how I do that. I'm going to show you how I do that. I think you can make a problem by now is really the same for this. And this is the same thing. This is the same thing. Very, very small. And certainly, the volume of the night room is strong and it's a mess in my side. And it's a mess in the administration. My house. I have to hear us. So I'm having this short room. I'm No. So that's how we live all the time. So we do this all the time. So we do this all the time. So we do this all the time. So we do this all the time. So we do this all the time. So we do this all the time. So we do this all the of the side. So the least I've got is five. And she has to make it use this style of the side of the room. And here it is. I'm sure using this as a set of law. It's either a new year or a set of other short-term systems. It's just a one-year-old. It's a new year. It's a new year. It's a new year. It's a new year. It's a new year. It's a new year. It's a new year. It's a new year. It's a new year. It's a new year. So, I'm going to start with the first one. So and the So we were going to be there today on the line. We had nothing to do with it. And this one is all you were saying. Why hasn't it been true that this is so wise and all to end there? Well, we were all kind of nice. You know, it means you're a lot of money. And then why did you get a short trial? And you really have to come here and share some of your struggles yourself. So I'll be reading some of the most famous stories to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. The stage is where we're going to go. The other way around, we're going to do this. We're going to do this. We're going to do this. We're going to do this. I'm saying you were in the evaluation, you were starting to feel less fine. You were starting to feel less fine, you were starting to feel less fine. You were starting to feel less fine. You were starting to feel less fine. You were starting to feel less fine. You were starting to feel less fine. You were starting to feel less fine. You were starting to feel less fine. You were starting to feel less fine. You were starting to feel less fine. You were starting to feel less fine. and the truth is that the rest of us, the truth is that to be, uh, they don't know what to do with the trust. So, the other one, the trust, uh, underlates the trust. The trust is going to be more than $20,000. I'm doing the monitoring. I'm doing the monitoring. I'm doing the monitoring. I'm doing the monitoring. I'm doing the monitoring. I'm doing the monitoring. I'm doing the monitoring. I'm doing the monitoring. I'm doing the monitoring. and I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry, I'm sorry. I'm going to go to the room. I'm going to go to the room. I'm going to go to the room. I'm going to go to the room. I'm going to go to the room. I'm going to go to the room. I'm going to go to the room. I'm going to go to the room. I'm going to go to the room. I'm going to go to the room. I'm going to go to the room. I'm not changing the names, just a couple of other ways. I'm trying to do it. I'm trying to change the names. I'm trying watching some names just in the top of all the way out with the fronties of the door and the door is out of place. I'm just watching some names just in the top of all the way out with the fronties of the door and the door is out of place. I'm watching some names just in the top of all the way out with the fronties of the door and the door is out of place. I'm watching some names just in the top of all the way out with the I'm going to be on the same page as you see. I'm sorry. I'm not sure how to do it. I'm not sure how to do it. I'm not sure how to do it. I'm not sure how to do it. I'm not sure how to do it. I'm not sure how to do it. I'm not sure how to do it. I'm not sure how to do it. I'm not sure how to do it. I'm not sure how to do it. I'm not sure how to do it. I'm not sure. and I'm sorry, Jack. You let you know when you're doing this, Jack. It's a good thing for you to say hi to me. You're doing good. It's not losing point. Yes, I'm hiding in the infusion tower. I'm going to get you on the area. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'm going to go to the next room. I'll give you a round of applause. I'll see you in the next one. I'll see you in the next one. Bye bye. So you know what I got? We got a new guy. We got a new guy. We got a new guy. We got a new guy. We got a new guy. We got a new guy. We got a new guy. We got a new guy. We got a new guy. Yeah. I'm sorry, I'm sorry. the I have to go to the office. I have to go to the office. I have to go to the office. I have to go to the office. I have to go to the office. I have to go to the office. I have to go to the office. I have to go to the office. I have to go to the office. I have to go to the office. and I'm going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be going to be, so I'm so glad that I know that I'm so, So, you know, we're all here. And we're going to be ready for the next. and Thank you. Hey, thank you. Next up is John Thin corrupt with this corner. I'm holding for this corner. I'm going to do a three-up or eight. So if you're going to make sure you're pointing to guys, I'll inform you so much. You'll notice in the blue there is an US water draw that's even going to happen. In the orange and national water is out of 80% and then water down on to 33%. So you all ahead more of the blue. So it's good. And I invite you to your blue water. And I'll... I'm going to have to go on the floor. I'm going to have to go on the floor. I'm going to have to go on the floor. I'm going to have to go on the floor. I'm going to have to go on the floor. I'm going to have to go on the floor. I'm going to have to go on the floor. I'm going to have to go on the floor. I'm going to have to go on the floor. I'm here. I think I see a light in my room for a little bit of the presentation. And this stuff, he said in the fan here, it's going to read just a little bit of all the other money that are coming out of it. And I guess Slim shot, I'm not getting it. So I know right now, it's all up to the other plans. I'm here next time. And I'm going to be doing it for a while. We're going to be doing all of the work. You know everyone died and the question was just ahead of your return the last few years. And we said I give you... You know, but you know, the long term is this works. You know, everyone, the question was, which is they had your return the last two years. And we've got to get through these high quarters maybe a year. I think there are a lot of processes and you know, it's a slim shot that will come back to our work. You know, we've got to get through all these sometimes here. You guys know, this, this, this picture here on page three, it's kind of the exact opposite. We're under next time. So the wheel is down. The wheel is more into the mass of the wheel. So I just mentioned that. And then the bond is right on half the wheel. And that bond is more or less the wheel is also showing you. And then it's going to turn. As I mentioned on We have here in this allocation and the top of time right now. We see me next time. We're going to look at freeback. We'll get through it. And as I mentioned, super-side that when we sell hits, and we fly to great companies that are prices, we don't have that other one. You can see page 14. I can mention just how we set up. So we're just seeing. You know, selling compliance. And we are. We just got to catch up with you. We don't see anything else. Page 15 is a nice picture of the group. Yeah. We're all. Again, lies, we'll be off there. As you see right now, this is what I'm not sure about this. And then the returns here are 18 and 19. So again, this book is a little bit next. I was in there for the quarter. We were off with one and a half percent. We managed to work with down, over cents in a little one and this was probably the last one, the next time you see me in my room, it was so great But we have a lot more awesome than I'm in the last one It's a great scene as well, and I think they're all one Except for the last one, the last one is the one three five seven and ten. This is what all of the one and ten. So we'll set up some work that's happening right now. So there's a couple of long three reports here. And now we'll look back as we want more of these. I'm going to share it. As I mentioned, I've much treated the food bar. So I'm going to the red. You can see there, we're going through the equity, the oil mass and the oil flowing on the policy there. All the 2% versus the acid and the last of the oil policy. And the bonds of the 18, again, you're going down a little bit. And then just to read that, on the page 19, I just sort of knew this would be here. I probably not going to get the second column again very, but for us that is a lot of what I did. And I didn't see it on the show. It was on for the last 70 years. So I think my general theme is this one is great. And there's some kind of not so great, but I just think it would be great. I don't know if it's worth it. We're not going to change our stripes. And it's an opportunity. We're going to do it a lot even though there are no needs. It helps us sleep shy because I'm going to be reading that. All that is happening right now, there's lots of noise. We're all time-mice. I'm sure it's a long journey. And it's opportunity. I'll do the sound journey. I'm sure it's a long journey. And it's opportunity. I'll do the sound journey. I'm sure it's a long journey. And it's opportunity. I'll do the sound journey. I'm sure it's a long journey. I'm sure it's a long journey. I'm sure it's a long journey. I'm sure it were a long term. And it's opportunity. It's down-term. You know, our books, I don't know, it's like, you know, the books, it's a library. And as we saw, we had a lot of room. We come back. And I think we were a long term. And I don't see that. I'm going to be back. I'm going to be back. I'm going to be back. I'm going to be back. I'm going to be back. I'm going to be back. I'm going to be back. I'm going to be back. I'm going to be back. I'm going to be back. I'm going to be back. I'm going to be back. guys, you'll be okay? Yes. Okay. So I think first on the agenda, then I have some information or topic to kind of go over with you. But first on the agenda is to keep the key sound giving guys. It's the restatement. I know we've discussed it a couple times at prior meetings and that we've wanted to have a chance to look at it and review it. So I just wanted to check in and see if there were any other comments or revisions or anything questions that the board may have or anybody maybe at the city might have happy to address those or happy to discuss anything you guys would like. Now we reviewed it, very light reading, but went through it and just you know I don't have any questions on and everything that we wanted to get put in there Okay Okay perfect So we'll we can keep working with the city and and just kind of make it you know make it Make it way through it way through the legislative process. And then once that gets enacted, you know, we'll have our new plan document, so to speak. And then we'll kind of go from there. Any other questions, please? No, just a comment. I know this is a draft, so it's probably going to get gone through. Probably the only one in here. Page 13 at the very top, first paragraph, over towards the right. The word should say normal, just missing the O in it. Excuse me. That's not him. I'm just making sure you're gonna read it. It's a bit of a hurry, but very long. I am. I am the artist. I am the artist. I keep made it. The other questions on that, guys? We need another motion to do that. Pedro, do we need another motion to prove for the updated changes. No, I think, I think, and I apologize, it's a little bit hard to hear you guys, but I think I heard there's that typo where the O, we missed an O in a normal retirement on 13, and then I could it here if there was another change. No, that was it. Okay, no, I think I don't think you need another motion. I think, you know, we'll obviously correct that type of, but I think at this point there's no further action required on the board then. We'll work with the city and city attorney's office. And then obviously our actuary can prepare the requisite impact statement. But other than that, I think we're all very important. That impact statement, is that going to determine the budgetary cost or the future funding level of both? So in theory, it shouldn't be an impact because again, we're not changing anything. We're just rewriting, coordinating, revising a little bit. But we're not changing any benefits. Nothing is there's no material or substantive changes. So the impact should be zero or immaterial. And essentially, I think it's going to really mirror what your valuation report is going to say, you know, a June that Doug's going to present. I'm sorry, I don't know if I answered your question. Yeah, I just was wondering like the one that he talked about earlier, you're able to, somebody people that that voted on this at the end would be able to see a logical cost determination with their voting board. It's one of the make sure that was in there. If there was one, it would sound like there is. So part of the... Yeah, so part of state law requires, at any time there's an amendment to the ought to to a pension plan it the the city legislation right the local legislative body needs to know what the cost is and so that's what that act early practice so yes it will be but i can't be just you know in in this case, it should be a no impact against it. We're not changing anything, we're just revising, re-riding, reorganizing, but we're not changing any benefits. We're not lowering or increasing any benefits, there wouldn't be a cost in this one, and this one amendment. Okay. Okay. So the other item I just wanted to talk about. Okay. So the other item I'd thought to touch on was system changes legislatively. So locally, obviously, if you guys are probably aware, legislative session here in Florida has begun. the only bill that I've seen affecting local plans and not really your plan, but the Florida retirement system is seeking to put in place or re-institute 3% COALA for certain members hired on or after July 1 of 2011. But there has not been anything filed that would affect our plan or other local or chapter plans here in Florida. But just wanted to keep you updated on that. So as session progresses, obviously we'll keep you posted. Once it concludes, we'll have a final report. But as of now, there doesn't seem to be anything that would make any change or have any impact on our plums. Okay. And then just at the federal level, I just wanted to touch on just not again because it doesn't affect us specifically, but just for informational purposes, the Social Security Fairness Act was enacted January 5th of this year. So a little over two months ago. And essentially it repealed two provisions that had been in place for many years. The Social Security Reduction Act and the Windfall Elimination Provision. And essentially what these two laws did, they reduced the amount of social security benefits that were paid to either a member and or their spouse who was also receiving a public pension from a plan that did not contribute to social security. So the social security administration, I think estimates is about 3 million individuals who are affected by this and here in Florida it's about 183 or 185,000. But again, our plan does contribute to Social Security. It doesn't affect us specifically, but just so you're aware, obviously, that it is a pretty significant piece of legislation. Just because, again, it's removed something that's been in place for so long. And, again, I think it should give some relief to a lot of folks who have been receiving less for all these years. Okay. And that's really it. That's all I had for my report Appreciate a page or thank you We'll go and move on to old business There's nothing on the agenda for that There's nothing on that. They will move on to the content agenda Comments all of those listed the warrants, 106107 and as well as the fund active report. December 3rd through March 3rd. Is there any questions on any of that? Would you suggest that? I'm not going to look for approval. What are the warrants? Those two invoices that you guys are paying? Those are the ones we've already paid. These are for ratification. There's nothing new that has to be Everything it's in there has already been paid. It's just All right, I'll make a motion to approve the consent agenda as presented I'm gonna get that motion. Hold the paper. Okay. Close. Moving on. Next thing's going to be staff reports discussion. It's going to be my section. The next upcoming education opportunity is going to be FPBTA, the 41st Annual Conference, June 22nd through the 25th. I'll put this out there a little bit early because you can look at plans if you're interested in going to that. And there's some other suggestions that you can come up. So all that needs to happen for that is if you're interested, You can reach out to me or reach out to the analyst for your plan. The analyst is the one that's going to sign you up for the conference. Once you're signed up, then she is also going to forge you the information for the hotel and the rate that it's going to be. At that point, you'll put your own hotel and then you get the impersonator. Keep all your seats for things. We'll try to call you. Okay? You can let me know that now. Let me know at any time. I'll get it to the analyst and we'll get your register. Right? Anytime that you're in a decision, you're good to go. There's nothing else on the training. Go ahead and move on to the next topic. Trustee me. Reports discussion action. Order. I do not have it. That point. If there's nothing else, go ahead and do a motion to adjourn. Second. Hi, I'm your adjourned. Wish you a Pedro. Thank you. Thank you, Pedro right, everybody, take care. Have a good rest of the afternoon. Appreciate it. Thanks, Pedro. All right. Bye-bye. Pedro Verrero. Has left. A little quick. Good job of class. Thank you. Thank you. All right. Everybody, take care. Have a good rest of the afternoon. Appreciate it. Thanks, Pedro. All right. Hey, Joe Verrero. How's left? Good job, class. Hey, Joe Verrero. How's left? Real quick. Good. They could be overcast. I missed out. I'm forming a highly steady area. You want to take them. There we go.