Police Retirement Pension Board - Regular Meeting

I have no idea who's in charge of the live stream of recordings if that's happening I

Any public comments? I don't see any. Approval of the minutes from July 28th. Are there any comments regarding the minutes or changes?

I have no changes. I just wanted to point out that we're going to discuss this later, but I want to point it out. funds, our major equity funds, and put 300 into cash and a million into developing markets. And there was something with and they pulled out some of that money to rebalance their cash that they needed, which ended up with us only getting $800,000 into that fund. So we're going to talk about that. I was just talking about that with James. I just wanted you to notice it. in the notes. So when we talk about it, you'll see what we're talking about. Got it. Anything else?

Nope. Can I get a motion to approve the minutes?

All in favor? Aye. Aye. Moving on, number four, ratifying the warrants. Is there any discussion? No discussion. I'm going to ask that we do it all at once unless somebody objects to it and wants to do it individually.

I make a motion that we accept all the warrants. All right.

Clark with the motion. Is there a second? Second. Abner Vargas seconds. All in favor?

I thought the issue really isn't the money as much as it's the timing is the issue we don't save any time because we have to get the information from the city so it's it's the same we're in the same thing they're very very slow I have had more experiences with that department and it is difficult

Finance director, MSVL, yeah, that used to be hers. That was part of Marcia's. I thought I saw something.

I don't think it's, has it been resolved? Yes. The question is, have we received the funds? No, I don't think so. I don't think so either. Yeah. Correct. Yeah, because we got our statements, and our statements didn't change, which tells me we didn't get our funds. And the issue of it being so slow is not resolved.

Right, exactly. I mean. Like get with the program, you know.

Yeah. Just make sure you're talking to your mic. I'm sorry. In case there is anybody out there watching.

Well, I can tell you what that would be.

Duly noted. Duly noted. For the record. Duly noted. It's not a pretty picture. We know that it's a problem. We've had that discussion many times. Yeah, it seems to be recurring. That's why I'm asking. The unfortunate part is it's not in any of our control. Oh, I know. I know. So that's the unfortunate part. All right. So I had a motion. Did we approve and ratify the warrants?

Aye. Okay. All right. Investment consultant report. I'm sorry, I forgot your name. James. Got it. Thank you, James. No worries. Thank you.

So with my... really just the tech market. Nvidia, Microsoft, Apple, Meta. Regular companies. I mean, mid-sized companies mean gigantic companies, but they're just not trillion-dollar companies. They're just puttering along. They're not gangbusters. Is that right?

giant tech companies. That's right. Exuberation.

Which is in the notes, the notes that we asked to do that.

Right, that's the net amount that went into the fund, and we had specified $1 million.

Yeah, it does, and I'm able to say what did the wrong...

That's right. And it's consistent throughout all the asset classes.

Abner Vargas seconds. All in favor? Aye.

Okay, and the $150,000 you talked about, that's a net, after contributions, that's a net amount that we need to make all our payments, is that right?

So if the city makes a big contribution, it goes into cash. And then they will make a distribution according to these allocations.

So, I'm okay and I'm happy with everything. I just have a. The form that was provided here, there's no last for the account number. And then the two that were sent were two different account numbers. So I want to make sure we're pulling from the right account numbers. So it's 470. Got it. All right.

Before I sign, I guess we've got to do a motion. Is there a motion to accept this letter from Salem, reference the rebalancing of the R&D account? Do we get a motion? Sure, I'll make that motion. Martin, any seconds? Sam seconds. All in favor? Aye. All right.

I don't know about that. Those comments about Bulldog. Here's the letter. Now, Adam, you're up.

Because I wasn't going to be there, I contacted as many of the councilmen that I could, and I didn't get any blowback from them. They just said, you're not in our line of fire, but some other people are. So, I said, oh, okay, that's good. And I just reminded them that, you know, we are governed by state of Florida statutes that they, you know, they can't do anything about, they don't have any say on the structure of the board and many of the things that we do because they just don't. So, they needed to know that going in, but I think they did actually. I feel good after I talked with them.

Yeah, and to add to your point, I've been paying attention a lot to the council meetings, and they're actually going to structure the way we elect our board members the same for the general employees. They're moving in that direction, I should say, and making sure that it's a little more organized, giving the members the vote to get those initial two in there and things like that. So they're moving in the right direction, and they're modeling it after us.

Well, you have to be careful who you elect on the board.

I mean, I was there and I spoke, and there wasn't too many questions, but I think I handled them pretty decently. I saw the tape. You did great. Very stoned. You did great. They didn't really have a lot of comebacks, so Adam, whatever you'd like to add. I do want to add about the phishing emails and scams. So it's already happening here. I don't know if anybody else is aware of it, but be very careful. They're looking at the planning and zoning agendas and the minutes, and they're sending phishing emails to people that are trying to get permits and scanning them out of their money to pay their

I lost my credit card. Of course, canceled it, did the regular stuff, canceled it with Citibank, canceled their grades, canceled it, sent me a new credit card. I got the new credit card. I was on vacation, and it was like a week later, and I get an email from DirecTV saying, you know, you've missed your payment to DirecTV. You know, your card isn't good. Please update your information. Well, that was a scam and I went, oh, okay, of course I'll do it. And I was about to go out the door, you know, I was on vacation somewhere and I wasn't really paying attention. Of course, I filled it all out. A

Moving on. New business. Any new business? There's nothing written down.

Yes. Not a conference, a training. So not the summer conference, one of the two trainings. I thought it was every year, but it could have just been them trying to get us to go.

I'm trying to find the dates for January because I think that might conflict with this meeting.

I haven't seen it either, but it's current event.

All right, so then I guess it doesn't conflict. All right, so it doesn't conflict. So it's fine. Okay. So, have we heard anything regarding Paul Vieira?

But you made contact with him? Yes. Got it. Okay. Yes. All right.

Yes, he is and he is getting paid based on the final retirement amount Got it So another question somebody that's Coming up towards retirement And I think we've discussed this in the past how soon should they be reaching out to try and figure out what benefits they want to pick I

Got it. Okay, thank you. All right. Is that your administrative report or do you have anything else?

With AI, you know, they can sift through so much information so fast, it can get you, I mean, it can get you anything. I'm sure that's how it found out that my credit card had been canceled. Right. So, or lost.

You'll get an email. Once you get the email, let her know. She'll sign you up. I haven't seen the email yet.

I didn't get the email for the last conference, but I'll be very careful. I'll go online. Okay.

I wasn't able to. We tried to make it work, but it didn't work out, unfortunately. But I have to. I want to get it off my mind.

All right. Nothing else? All right. That was an hour and 15 minutes. Yeah, we're keeping January 27th, right?