HomeMy WebLinkAboutBack-Up DocumentMEETING MINUTES OF THE CITY OF MIAMI
G.E.S.E. RETIREMENT TRUST
THE ROSE GORDON BUILDING
2901 BRIDGEPORT AVENUE
WALDEMAR LEE MEETING ROOM
COCONUT GROVE, FLORIDA 33133
TELEPHONE: 305-441-2300 FAX: 305-441-2307
MARCH 22, 2019
9:00 A.M.
MEMBERS: LUIS FERNANDEZ
CLARENCE GRAVES
PORFIRIO JIMENEZ
MARY LUGO
OLGA MACHIN
SEAN MOY
ANN MARIE SHARPE (Excused Absence)
JOE SIMMONS, JR.
COREY TAYLOR
ALSO IN ATTENDANCE:
EDGARD HERNANDEZ
ANA KOKENGE
MARIA BLANDON
SANDRA ELENBERG
YVES LOUISSAINT
PAUL BROWN
GEORLIAM RODRIGUEZ
ROBERT T. WILLIAMS
JOE HUDEPOHL
MARLENE JANE
WALLY WILSON
ELENA VALDES
KAREN ROJAS
ALIBEL SANCHEZ
ANTHONY THURSTON
ANTHONY BRUNSON
LUIS M. CORDERO
CHRIS BARNETT
RON A. SILVER, ESQ.
HILDA THOMPSON
CHRIS RECICAR
ENRIQUE MESA
TODD GREEN
RODRIGO JIMENEZ
WILLIE BEAILS, JR.
JIM SKESAVAGE
Other individuals were present; however, their signatures were illegible.
Proposed GESS Plan budget for fiscal year October 1, 2019, to September 30,
2020 e Mr. Hernandez stated that the total administrative budget decreased 7% from
last year's budget. Total salaries and wages increased by 2.3%. This was mainly due
to a proposed new hire. Total Personnel Services decreased by -3.6%. This was
mainly due to insurance. Total Professional Services decreased by -11%. Total
Office and Administrative decreased by 1.2%. Insurance decreased by -5.3% and
Occupancy decreased by 11%. The Actuarial Funding Requirement increased by
approximately $6.5 million. Some discussion took place regarding the staff joining
the city's group insurance. Mr. Hernandez stated that negotiations continue on this
issue. A lengthy discussion took place. Mr. Hernandez asked for . a motion to
approve the budget as amended (to include a $6,000 raise for Southeastern
Advisory) in the amount of $3,051,580. Vice -Chair Moy moved. Trustee Taylor
seconded the motion. A roll -call vote reflected Trustee Lugo voted "no" on the
motion. Trustee Sharpe was absent. All others voted "yes" on the motion. The
motion passed 7 to 1.
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Proposed Excess Plait budget for fiscal year October 1, 2019, to September 30,
2020 s Mr. Hernandez stated that the Excess Budget was a percentage of the GESS
Budget. We are not allowed to pay fees incurred by the Excess Plan frorn the GESS
Trust. Last year's budget was approximately $112,000 and this year's budget is
approximately $113,000. Trustee Graves moved to approve. Trustee Fernandez
seconded the motion. The motion passed unanimously. Trustee Sharpe was
absent.