Fort Walton Beach Council agenda — 08-22-2007 special agenda — reading text

8/ 14/ 07 City Council Agenda This calendar has been discussed with and agreed to by these Advisors. 6/26/ 2007 CITY OF FORT WALTON BEACH Page 2 of2 The content of the reports will be: 1.) opinions on past practices, 2.) opinions on the recommendations made by the Finance Director/Plan Administrator, and 3.) any other advice or suggestions they wish to make to City Council on the GE Pension Plan. In addition, I will be working with Mark Wiltsie, Chairman of the GE Pension Plan Advisory Committee, to set- up a meeting within these dates so that the Advisory Committee may make or add recommendations to these reports. Please let me know at the 6/ 26/ 07 City Council meeting: If these arrangements do not meet your expectations, so that I can make adjustments to this plan to meet your needs, or If you have specific questions or information you wish to have addressed in these reports. Thank you, and please let me know if you have any questions. 6/ 26/2007  Page 1 of2 Helen Spencer From: Virgil [ vmill63@yahoo. com] Sent: Sunday. July 22, 20072: 04 PM To: Joyce Shanahan; Bill Garvie; Dennis Reeves; 4eagles@cox. net; Mike Anderson; mikeycmat@aol.com; mike@seminc. net; Toni L Craig; Wayne Pullen Cc: Lisa Absher; Helen Spencer; Mark Wiltsie; Carole Jones Subject: Re: FW: Memo re Workshop on Retirement Issues I agree. ConfIrm the times. Seat 2 Joyce Shanahan <jshanahan@fwb. org> wrote: Good Morning All: Please find attached a letter from Pension Attorney Jim Linn. He is suggesting in his email that Council consider a workshop meeting for the consideration of changes to the Pension Plan. I concur that this information is better suited for a single topic workshop. I will ask for some available dates from Mr. Linn, as well as the Actuary and auditors and investment manager. Once we have those dates, I will ask the Clerk to arrange a time for a special workshop/ meeting. It will likely have to City be a special meeting because Council will have some decision points to make. Thank you. Joyce Shanahan City Manager City of Fort Walton Beach, FL Phone: 850- 833- 9504 Fax: 850- 833- 9640 Cell: 850- 803- 9621 Email: jshanahan@fwb. org Please Note: Florida has a very broad public records law. Most written communications to or from City of Fort Walton Beach officials are public records available to the public and media upon request. Your e- mail address and communications may therefore be subject to public disclosure. Original Message----- From: Jim Linn [ mailto:jlinn@llw- Iaw.com] Sent: Friday, July 20, 20074: 50 PM To: Joyce Shanahan Cc: Lisa Absher Subject: Memo re Workshop on Retirement Issues Joyce - could you please transmit the attached memo/ recommendation to City Council? Thanks, Jim 8/ 6/ 2007  Page 2 of2 James W. Linn Lewis, Longman & Walker, P.A. Post Office Box 10788 Tallahassee, FL 32302 850) 222- 5702 850) 224- 9242 ( Facsimile) THE INFORMATION CONTAINED IN THIS ELECTRONIC MESSAGE IS INTENDED ONLY FOR THE USE OF THE INDIVIDUAL( S) OR ENTITY NAMED ABOVE. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATION, DISTRIBUTION OR COPYING OF THIS COMMUNICATION IS STRICTL Y PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE IMMEDIATELY NOTIFY US BY TELEPHONE OR E- MAIL AND DELETE THIS MESSAGE. THANK YOU. Moody friends. Drama queens. Your life? Nope! - their life, your story. Play Sims Stories at Yahoo! Games. 8/ 612007  Page 1 of 1 Helen Spencer From: Lisa Absher Sent: Wednesday, July 25, 20079:50 AM To: Jim Linn'; ' Mike Tierney' Wiltsie; Helen Spencer; Tony Anderson; Cc: Joyce Shanahan; Angela Balent; Brandy Wunker - DPT005D; Mark Michael Beedie Subject: FW: Pension response Dear Angela, team, and look Thank you for your report. I am sharing your report with staff and the other members of the professional forward to any responses they may have. I will forward other reports as I receive them. Lisa Absher Finance Director City of Fort Walton Beach, Florida Office ( 850) 833- 9513 Original Message----- From: Angela Balent [ mailto: ABalent@osullivancreel.com] Sent: Wednesday, July 25, 2007 9: 39 AM To: Lisa Absher Cc: Joyce Shanahan; Jody Henderson Subject: Pension response Lisa, Council. Good morning. I hope you are doing well. Attached please find our response to the GERF plan as directed by Thanks. Also if would like an Please let Jody or I know if you have any questions or if we need to clarify anything. you actual hard copy please let me know. in this correspondence or attachment are not Required IRS Circular 230 Disclosure - Any statements or tax advice contained be used the recipient other party for the purpose of avoiding any penalty that intended to be used and cannot by or any may be imposed under the Internal Revenue Code. Angela D. Balent, CPA O' Sullivan Creel, LLP Fort Walton Beach, Florida 850-244- 5121 ( phone) 850-664- 2562 ( fax) abalent@osullivancreel. com The contents of this email transmission, including any documents transmitted by or accompanying this email transmission, contain confidential information, belonging to the sender that is legally privileged. This information is intended only for the use of the law." individual or named above. This email and its content may not be forwarded to any other recipient except as authorized by entity 8/ 2/ 2007 CITY OF FORT WALTON BEACH Page 1 of3 Helen Spencer From: Joyce Shanahan Sent: Thursday, August 02, 2007 1 : 20 PM To: Lisa Absher Cc: Carole Jones; Helen Spencer Subject: RE: Update on Pension Advisor's Reports Carole' s been working on this. Joyce Shanahan City Manager City of Fort Walton Beach. FL Phone: 850- 833- 9504 Fax: 850- 833- 9640 Cell: 850- 803- 9621 officials are pUblic Please Note: Florida has a very broad public records law. Most written communications to or from City of Fort Walton Beach to public disclosure. records available to the public and media upon request. Your e- mail address and communications may therefore be subject From: Lisa Absher Sent: Thursday, August 02, 200711: 58 AM To: Joyce Shanahan Cc: Carole Jones; Helen Spencer Subject: RE: Update on Pension Advisor' s Reports Dear Joyce, Can you advise me on what date you are planning on having the meeting that these Advisors need to attend? They think it is still a workshop on 8/ 14... Thanks! Lisa Absher Finance Director City of Fort Walton Beach, Florida Oftlce ( 850) 833- 9513 Original Message----- From: Joyce Shanahan Sent: Monday, July 30, 20075: 18 PM To: Lisa Absher Subject: RE: Update on Pension Advisor' s Reports Hi Lisa: Thank you for the information. I don' t believe that these reports should go to the Pension Advisory Committee until AFTER City Council has reviewed them. Thanks. Joyce Shanahan City Manager City of Fort Walton Beach, FL Phone: 850- 833- 9504 Fax 850- 833- 9640 Cell: 850- 803- 9621 Please Note: Florida has a very broad pUblic records law. Most written communications to or from City of Fort Walton Beach officials are records available to the public and media upon request. Your e- mail address and communications may therefore be subject to public public disclosure. 8/ 2/ 2007 CITY OF FORT WALTON BEACH Page 2 of3 From: Lisa Absher Sent: Monday, July 30, 2007 5: 00 PM To: Joyce Shanahan Subject: Update on Pension Advisor' s Reports Dear Joyce, We have received reports from: I. Angela Balent, City External Auditor Jim Linn, Pension Attorney I spoke with Michael Tierney today and he said that his report will be done by Wednesday, August 1st. Did you want the GE Pension Advisory Committee to review these reports prior to putting on CC agenda? Please let me know... Lisa Absher Finance Director City of Fort Walton Beach. Florida Office ( 850) 833- 9513 Original Message----- From: Usa Absher Sent: Monday, June 25, 20074: 54 PM To: Virgil Miller; Mike Holmes; Bill Garvie ( WGarvie@aol.com); Dennis Reeves; Wayne Pullen; Jim Hartwelll; Mike Minich Cc: Mike Anderson; Joyce Shanahan; Helen Spencer; ' toni@tlcpa. gccoxmail. com'; Lisa Absher Subject: Update on Pension Advisor' s Reports Asking for your concurrance on time line for reports, and questions addressed. CITY OF FORT WALTON BEACH MEMORANDUM To: Honorable Mayor and City Council Members From: Lisa Absher, Finance Director Plan Administrator for the GE Pension Plan Date: June 25, 2007 Subject: Update on GE Pension Advisor' s Reports for 8/ 14/ 07 Meeting At the last City Council meeting on 6/ 12/ 07, City Council directed the three ( 3) advisors for the GE Pension Plan to bring back a report to City Council for its meeting on 8/ 14/ 07. The City Manager tasked me to coordinate with these advisors so that their reports would be received and shared well in-advance of the 8/ 07/ 07 agenda