Police Pension Board Meeting (2025-08-05)

MEETING MINUTES SESSION OF THE POLICE PENSION BOARD CITY OF KISSIMMEE CITY HALL, COMMISSION CHAMBERS 101 CHURCH STREET, KISSIMMEE, FLORIDA 34741-5054 TUESDAY, AUGUST 5, 2025 AT 1:00 PM

1. MEETING CALLED TO ORDER Members Present: Board Member Charles Willdigg, Board Member Christopher Breuer, Board Member Kristen Camero

Staff Present: Ana M. Gonzalez-Fajardo, JD, MPA Director of Human Resources, Linda Gomez, Pension Administrator

Members Absent: Board Member Carlynn Rothey, Board Member Ian Downing

Charles Willdigg called the meeting to order at 01:00 PM.

2. HEAR AUDIENCE Police Officers Brian Renderos and Jonathan Coons, who are representing the Fraternal Order of Police (FOP), addressed the Board of Trustees. The first request was to request permission to use the Actuary that the pension board currently uses for actuarial studies and pension calculations.The second request would be to ask the City if it's possible if the City would be willing to share the cost of an actuarial study related to a proposed benefit. The study would be to bring a prospective increase in the benefit accrual rate to 3.50% with and without a reduction in the member contribution rate from 5.00% to 3.70%. Also, an increase in the benefit accrual rate to 3.50% for all years of Credited Service, with and without a reduction in the member contribution rate from 5.00% to 3.70%.

Board Member Charles Willdigg made a motion to approve that the FOP may engage the Actuary Foster & Foster to conduct their requested study, with all associated costs to be paid by the FOP. Board Member Christopher Breuer seconded the motion.

AYE: Board Member Willdigg, Board Member Breuer, Board Member Camero NAY: None

Motion to Approve Passed 3-0.

3.A Review of the 3rd Quarter Mariner Quarterly Investment Report for FY2025 Dave West, Senior Institutional Advisor, Mariner introduced Jack Evatt, Director Institutional Advisory Services, Mariner. We will be double team for the next few meetings as I phase out after 40 years of service. Dave provided a review of the Mariner Investment Performance Review for the 3rd Quarter of FY2025.

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I have no action recommendation at this time. We are keeping a look at RBC, but we should stay on the course, as we have no manager issues at this time.

4. ADMINISTRATIVE AGENDA

4.A Approval of the Police Pension Board Minutes for the meeting held on June 10,2025 Board Member Charles Willdigg made a motion to approve the Police Pension Board Minutes for the meeting held on June 10,2025. Board Member Christopher Breuer seconded the motion.

AYE: Board Member Willdigg, Board Member Breuer, Board Member Camero NAY: None

Motion to Approve Passed 3-0.

4.B Approval of 3rd Quarterly Expense Report for FY2025 Board Member Charles Willdigg made a motion to approve the 3rd Quarterly Expense Report for FY2025. Board Member Christopher Breuer seconded the motion.

AYE: Board Member Willdigg, Board Member Breuer, Board Member Camero NAY: None

Motion to Approve Passed 3-0.

4.C Approval of 3rd Quarterly Retirements, Return of Contributions, and Share Allocation for FY2025 Board Member Christopher Breuer made a motion to approve the 3rd Quarterly Retirements, Return of Contributions, and Share Allocation for FY2025. Board Member Charles Willdigg seconded the motion.

AYE: Board Member Willdigg, Board Member Breuer, Board Member Camero NAY: None

Motion to Approve Passed 3-0.

4.D Approval of 2026 Proposed Pension Meeting Dates Board Member Charles Willdigg made a motion to approv Meeting Dates. Board Member Christopher Breuer seco

the 2026 Proposed Pension ded the motion.

Motion to Approve Passed 3-0.

4.E Memo regarding Entities that Boycott Israel per Florida House Bill 1519 Sean M. Sendra Pension Attorney Klausner, Kaufman, Jensen & Levinson, addressed the Memo regarding Entities that Boycott Israel per Florida House Bill 1519. As a public entity, there are restrictions on where you can invest. This is like a bill with Sudan & Iran back in 2011. Essentially, what the legislation says is you can't contract with a company or entity that is boycotting our ally, Israel. The only company currently on that list is Unilever. You can't invest directly with these companies.

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If you have indirect exposure, there are some expectations for that. Because of the way some mutual funds are handled. If you had to limit exposure, it would severely limit where you can place the public funds that you need to invest on behalf of the pension. There is a list in your quarterly investment report that indicates whether they are in compliance with all the different items of concern. This does not require a motion at this time.

5. HEAR THE ATTORNEY Sean, they finally passed the legislative budget. They did pass to fund the study to determine the feasibility of eliminating property taxes.

6. OLD BUSINESS No old business for discussion.

7. NEW BUSINESS No new business for discussion.

8. ADJOURNMENT There being no further business to come before the Police Pension Board, Chairman Charles Willdigg adjourned the meeting at 01:53 PM.

ATTEST:

Board Chairman - Fan Downing

Board Secretary Vice Chair - Chris Breuer