10-06-2000 Special Meeting•
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MIAMI SHORES VILLAGE
POLICE PENSION BOARD
OCTOBER 6, 2000
1. CALL TO ORDER
The special meeting of the Miami Shores Village Police Pension Board was held on Friday, October
6, 2000 in the Chamber of the Village Hall. The meeting was called to order at 8:08 A.M.
2. ROLL CALL
The following members present:
Mayor Mark Ulmer
Vice Mayor Robert Blum
Detective Timothy Dearden
Officer Robert Frame
Also Present: Mark A. Malatak, Plan Administrator
Lisa Keeley, Recording Secretary
Mr. Malatak gave a status report on several items. He indicated that the split of the plan assets was
being calculated by the actuary with an effective date of December 31, 1999 as suggested by Mr.
Cypen, the Pension Plan attorney. Mr. Malatak also indicated that the four police retirees whose
benefits were to be recalculated due to the omission of deferred holiday pay in their benefit calculation
would be receiving a retroactive adjustment and their new benefit effective November 1, 2000.
Financial reports are being calculated as well as the Drop statements for the two participants.
3. REVIEW, DISCUSSION AND ACTION REGARDING THE SELECTION OF Mk 1'H
TRUSTEE.
Mr. Malatak explained the selection process. Mr. Ulmer asked for a copy of the ordinance in order
to review the selection procedure. A five minute recess was taken at this time.
Mr. Ulmer read the ordinance indicating that the Village Council must appoint the fifth member
selected by the Board. The Pension Board establishes its own selection procedures. Mr. Ulmer
suggested that the Board have a discussion regarding the applicants, try to have a consensus and vote
accordingly. The Board agreed. More formal procedures can be adopted in the future.
Mr. Ulmer reviewed each application and the qualifications of each. He expressed concern in having
a police majority should Lieutenant Ulmer be appointed.
Detective Dearden suggested Ms. Reiner be removed from the selection as her preference is to serve
on the Personnel Appeals Board. Detective Dearden noted that Lieutenant Ulmer has vast experience
especially from the retiree's point of view. He noted that Mr. Heffernan would also be an asset to
the Board with his past experience.
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Police Pension Board October 6, 2000 Page 2
Mr. Blum shared his concern regarding a police majority. He indicated that either of the other two
candidates would be a good candidate bringing extended knowledge to the Board.
Officer Frame agreed that any of the three candidates would be an asset to the Board as they are all
qualified.
IIIMr. Ulmer nominated Bill Heffernan. Detective Dearden nominated Jack Ulmer. Further discussion
regarding the candidates ensued. Subsequently, Detective Dearden withdrew his nomination.
Mr. Ulmer formally nominated Bill Heffernan. A vote was taken by roll call with a unanimous
decision in favor of Bill Heffernan as the fifth member of the Board.
4. ADJOURNMENT
Detective Dearden briefed the Board on the outcome of the FPPTA conference held on October l'
He discussed the certification program offered by the FPPTA as well as some concerns with the
investment counseling received from Merrill Lynch. It was the consensus of the Board to have
Merrill Lynch explain its' agreement with the Village specifically management fees, trading policies
and commission recapture policies.
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The October 6, 2000 meeting of the Police Pension Board was adjourned at 9:00 A.M.
Timo y J. Dearden, Secretary
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Mayor Mark Ulmer, Chairperson