MIAMI BEACH EMPLOYEES’RETIREMENT PLAN OF THE CITY OF MIAMI BEACH PENSION BOARD MEETING Tuesday, August 14, 2018 10:00 a.m. CITY HALL Pension Office Conference Room BOARD OF TRUSTEES James Boyd Lynn Bernstein Jason Casanova Jose Del Risco Ray Horday Jonathan Sinkes Mark Taxis Manny Villar Jr. John Woodruff CONSENT AGENDA PAGE C-1 Minutes for approval – July 10, 2018 4 C-2 New Members of the System – 10 Ronald Alegria Heba Zaky Henry Castillo Jezel Pole Juan Ferreiro Yelena Baron Shelly-Ann Forsythe Jacqueline Perez Alicia Jones Rafael Rosquete Anthony Perez Richard Shannon Jessica Rivero Saba Gonzalez C-3 New Retirees – 11 Frantz Nazaire Darrell Parrmore C-4 New Pensioners – (None) C-5 Request for Lump Sum Refunds – 13 Igor Vassiliev Carlos Tamayo Jacquelyn Sperling C-6 Request for Accumulated Contribution Refund For a Named Beneficiary – (None) C-7 Purchase of Creditable Service Time – 16 Rocio Alba Guillermo Parada

CONSENT AGENDA August 14, 2018 Page 2 C-8 New DROP applicants – 18 Lucien Desamours Patricia Reeder Gilbert Moreira Marie-France Andre C-9 Lump Sum Refunds Paid since last meeting – 22 Tatyanah Channer Ulysses King Danila Bonini Rene Guerra Michel Mena Jennifer Reyes Eric Arencibia Gregory Toledo C-10 Financial Reports

a. Pension Payroll for August 1, 2018 – $3,622,489.18 b. DROP Payroll for August 1, 2018 - $392,348.56 c. Checking acct. reconciliation(s) – June - July 2018 23

C-11 Requests for Payment – August 2018

Legal Amount Pg. #

Legal Services - Klausner, Kaufman & All $ 5,000.00 25 for the month of August 2018 Bookkeeping Joan Wall- Bookkeeping Services rendered for the month of August 2018 $ 350.00 27 Actuary Gabriel, Roeder, Smith & Co Preparation of Ch. 112.664 Actuarial Compliance $ 3,000.00 28 State Val. Reporting Requirements Invoice #437566 Dated 4/2/2018 $ 1,250.00 28 Office Etc Office Supplies - Office Depot Inv# 160414379001 $ 68.96 30 Copier - Sharp Invoice # 9001247373 dated 7/01/2018 $ 136.13 32 CMB- Central Services: Charges for June 2018 $ 224.43 35 Pure Water Partner: Water System Acct # 20865 $ 34.99 38

CONSENT AGENDA August 14, 2018 Page 3 C-11 Requests for Payment – August 2018 - Continued

Investment Manager Fees Investment Fees - Wellington Wellington Trust Co Client ID# 4V55, Inv# 20180630-97388-A $ 89,116.54 41 Client ID# 68R4, Inv# 20180630-101918-A $ 124,036.70 44 C-12 Conv/Seminars/Dues/Etc American Express: Conference Expenses $ 1,995.00 46 IN ACCORDANCE WITH THE AMERICANS WITH DISABILITY ACT OF 1990, PERSONS NEEDING A SPECIAL ACCOMMODATION TO PARTICIPATE IN THIS PROCEEDING SHOULD CONTACT THE PENSION OFFICE NO LATER THAN FOUR DAYS PRIOR TO THE PROCEEDING. TELEPHONE (305) 673-7437 FOR ASSISTANCE; IF HEARING IMPAIRED, TELEPHONE THE FLORIDA RELAY SERVICE NUMBERS (800) 955-8771 (TDD) OR (800) 955-8770 (VOICE), FOR ASSISTANCE. IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THE BOARD WITH RESPECT TO ANY MATTER CONSIDERED A THIS MEETING, HE WILL NEED A RECORD OF THE PROCEEDINGS, AND FOR SUCH PURPOSE HE MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDING IS MADE WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED. FLORIDA STATUTES 286.0105 THIS MEETING MAY BE CONDUCTED BY MEANS OF OR IN CONJUNCTION WITH COMMUNICATIONS MEDIA TECHNOLOGY, SPECIFICALLY A TELEPHONE CONFERENCE CALL. THE ABOVE LOCATION, WHICH IS ORDINARILY OPEN TO THE PUBLIC, SHALL SERVE AS AN ACCESS POINT. PERSONS WISHING TO ATTEND SHOULD APPEAR AT THE ACCESS POINT, WHERE TELEPHONIC ACCESS TO THE MEETING WILL BE PROVIDED.

MINUTES OF THE MEETING OF THE BOARD OF TRUSTEES OF THE MIAMI BEACH EMPLOYEES’ RETIREMENT PLAN

OF THE CITY OF MIAMI BEACH July 10, 2018

Chairman Boyd called the meeting to order at 10:08 a.m. Board Members present were as follows: James Boyd Lynn Bernstein Jason Casanova Jose Del Risco Ray Horday Jonathan Sinkes Manny Villar Members absent – Mark Taxis John Woodruff Also present were:

Rick Rivera Pension Administrator Sandra Sicily Assistant Pension Administrator Stuart Kaufman Board Attorney, KKJ&L

Amada Gonzalez CMB employee CONSENT AGENDA The Administrator requested two (2) additions to item C-12, conference reimbursements, for Trustees Jason Casanova and Lynn Bernstein in the amount of $761.24 and $247.40 respectively. A motion was made by Mr. Sinkes duly seconded by Mr. Horday and unanimously RESOLVED that two (2) additions to item C-12, conference

reimbursements, for Trustees Jason Casanova and Lynn Bernstein in the amount of $761.24 and $247.40 respectively be added to the Consent Agenda as presented.

A motion was made by Mr. Sinkes duly seconded by Mr. Horday and unanimously RESOLVED that the Consent Agenda be approved as amended C-1 Board Minutes approved – May 8, 2018 C-2 New Members of the System – ID# Last Name First

Name Start Date

Hire Date Department Name

22970 AZCARRETA LOURDES 4/30/2018 4/30/2018 PUBLIC WORKS STREETS

22985 CORRALES IRIS 4/30/2018 4/30/2018 SANITATION

22014 PINDER SEIDE HARTLEY 5/14/2018 5/1/2017 PARKS AND RECREATION

20072 SANCHEZ VICTOR 5/14/2018 5/8/2017 PARKS AND RECREATION

21840 ALLU IVAN 5/16/2018 11/7/2016 ORGANIZATIONAL DEVELOPMENT

PENSION BOARD MINUTES July 10, 2018 Page 2 C-2 New Members of the System – (continued) ID# Last Name First

Name Start Date

Hire Date Department Name

22818 RODRIGUEZ YOANDIS 5/28/2018 11/20/2017 PUBLIC WORKS WATER

22801 WILLIAMS ERICA 5/28/2018 11/27/2017 POLICE SUPPORT SERVICE

23017 BROOKS DEJA 5/29/2018 5/29/2018 HUMAN RESOURCES

22999 LLANES JAVIER 5/7/2018 5/7/2018 PUBLIC WORKS PROPERTY MGMT

22992 RUIZ JR ALBERTO 5/7/2018 5/1/2018 IT SUPPORT

22581 BALGOBIN NEHRU 6/11/2018 6/12/2017 CODE COMPLIANCE

22841 FRANCIS JUNIOR 6/11/2018 12/11/2017 PUBLIC WORKS SEWER

23018 GARDNER AMBER 6/11/2018 6/11/2018 HUMAN RESOURCES

21199 THOMANY APRIL 6/11/2018 6/13/2016 PARKS AND RECREATION

23058 SAENZ MARIA 6/18/2018 6/18/2018 TRANSPORTATION C-3 New Retiree Allowances were approved as follows – Name Date Retirement Type Monthly Amount Linda Gonzalez 8/01/2018 Vested Service Ret. (LA) $ 4,469.84 Michael Schad 05/01/2018 Ordinary Service Ret. (LA) $ 3,063.25 Caroline DeFreze 08/01/2018 Vested Service Ret. (LA) $ 3,567.15 C-4 New Pensioner Allowances were approved as follows –

Date of

Dependent

Name Retirement Ret._Type Upon Amount

Eugenia Jones 06/01/2018 50% J&S James Jones $2,037.39

Mary Ann Brote 06/01/2018 662/3% J&S Fredric Brote $2,879.86

Neyda Ayala 07/01/2018 50% J&S Arthur Ayala $2,106.85 C-5 Requests for Lump Sum Refunds were approved as follows – Name Separation Date Gross Amount YCS Eric Arencibia March 30, 2018 $ 38,407.60 5.15 ycs Ulysses King May 10, 2018 $ 30,239.42 9.12 ycs Michael Mena June 14, 2018 $ 7,500.62 2.12 ycs Channer Tatyanah June 22, 2018 $ 14,439.20 3.50 ycs Rene Guerra June 7, 2018 $ 6,393.64 .91 ycs Jennifer Reyes April 11, 2018 $ 10,558.41 2.40 ycs Gregory Toledo April 27, 2018 $ 10,617.12 1.82 ycs Carlos Naumann July 31, 2018 $ 54,361.52 4.79 ycs Danila Bonini November 13, 2017 $ 26,375.76 5.10 ycs

PENSION BOARD MINUTES July 10, 2018 Page 3 C-6 Request for Accumulated Contribution Refund for a Named Beneficiary was approved as follows – (None) C-7 Purchases of Creditable Service Time were approved as follows – (None) C-8 DROP applicants were approved as follows –

Name Effective Estimated Benefit Last DROP Pmt.

Arielle Guerrier 6/01/2018 $2,411.21 5/01/2023 Candelario Martinez 6/01/2018 $4,342.22 5/01/2023 Saul Frances 8/01/2018 $8,769.29 7/01/2023 Laura Franco-Rubines 8/01/2018 $8,610.70 7/01/2023 Philip Whitehead 7/01/2018 $1,944.60 6/01/2023 C-9 Lump Sum Refunds paid since the last meeting were approved as follows – Check Date Name gross withholding check # 5/11/2018 Lyssette A Zamaro $ 18,860.97 $ 3,772.19 116785 5/22/2018 Manuel J Perez $ 88,856.58 R/O 116804 5/22/2018 Jose Suarez $ 46,033.89 R/O 116805 5/22/2018 Charles Tear $ 71,409.26 $ 14,281.85 116806 5/22/2018 Melody Peres $ 701.66 $ 140.33 116807

7/6/2018 Aimee Llauro $ 1,338.69 R/O 116845 C-10 The Financial Reports were approved as presented. C-11 Requests for Payment were approved as presented - Legal Amount Legal Services - Klausner, Kaufman, $ 5,000.00 Jensen & Levinson for June 2018

Bookkeeping

Joan Wall- Bookkeeping

For the month of June 2018 $ 350.00

Office Insurance

Fiduciary Liability Renewal RLI Ins Co

Inv# 1511331 Dated 5/18/18 $ 45,000.00

Office, etc. Office Depot Inv#12218080601 & 122181208001 $ 248.38

Sharp Electronics Corporation Invoice # 9001146883 dated 5/02/2018 $ 136.13

PENSION BOARD MINUTES July 10, 2018 Page 4 C-11 Requests for Payment were approved as presented – (continued)

CMB- Central Services: Amount

Charges for April 2018 $ 506.97

Charges for May 2018 $ 437.17

Pure Water Partner: Water System Acct # 20865 for May $ 34.99

Tyler Technologies: On site 1099R implementation $ 4,697.03

Medical Board: Dr. Cornel J. Lupu, MD Disability Application Evaluation $ 1,600.00

Dr. Isidro Pujol, D.O. Disability Application Evaluation $ 500.00

Investment Custody Fees - FTI FTI - Quarterly Custody Fee QTR Ending 4/30/18 for Dimensional for Acct# GP451022720, Inv# S14800587409 $ 773.34

Consulting Services Consulting Services- Milliman Inc. For the quarter services 4/1 - 6/30/2018 Code: 0212MBG01 Billing ID: 06.208 $ 23,750.00

C-12 Conv/Seminars/Dues/Etc American Express: Educational Conferences $ 12,740.30

Jul-18 Legal Amount

Legal Services - Klausner, Kaufman, Jensen & Levinson for the month of July 2018 $ 5,000.00

Bookkeeping Joan Wall- Bookkeeping Services rendered for the month of July 2018 $ 350.00

Gabriel, Roeder, Smith & Co Preparation of the 10/1/17 Actuarial Valuation $ 5,306.00

GASB No. 67 for FYE 2018 preparation $ 2,500.00 IRC Section 415L for 2019 preparation $ 815.00

PENSION BOARD MINUTES July 10, 2018 Page 5 C-11 Requests for Payment were approved as presented – (continued) Office, etc.

Sharp Electronics Corporation charges for the month of June 2018 Invoice # 9001196394 dated 6/02/2018 $ 136.13

Pure Water Partner: Water System Acct # 20865 Inv# 270579 Month of June $ 34.99

Tyler Technologies: Reprogramming of signature key $ 275.00

C-12 Conv/Seminars/Dues/Etc American Express: Conference expenses $ 4,479.04

Travel expense conference reimbursements John Woodruff $ 613.73

Lynn Bernstein $ 579.47 Rick Rivera $ 655.97

REGULAR AGENDA R-1 Deferred Items –

A. Sugarman & Susskind demand letter Re: Amada Gonzalez – Mr. Kaufman stated that there was no new information regarding Ms. Gonzalez’s case. Ms. Gonzalez was advised to follow-up with her attorney.

R-2 New Items –

A. Active Member Pension Software update – The Administrator said he was going forward with the motion approved by the Board in 2016 to replace the current active pension software used to calculate benefits, compile actuary data etc.… He said that he had collected four (4) proposals from the most popular providers of pension software used nationally and locally by comparable municipalities. He said he would prepare a matrix or synopsis for next month for the Board to possibly select finalists for presentations.

B. Annual Election of Chairman, Vice Chairman and Secretary – The Board reaffirmed the positions of James Boyd, Jonathan Sinkes & Jose Del Risco as Chairman, Vice Chairman & Secretary respectively.

PENSION BOARD MINUTES July 10, 2018 Page 6 R-3 Administrator’s Report

The Administrator said that the Fund Consultant requested a board meeting date change from Tuesday, August 14th to Tuesday, August 7th to accommodate their South Florida client visit schedule next month. A discussion ensued regarding whether to permanently change quarterly investment meeting dates from the second (2nd) Tuesday of the month to the first (1st)Tuesday of the month. The Board did not approve the meeting date change request and decided to keep the quarterly meetings on the second (2nd) Tuesday of the month. It was decided that, going forward, the Board would not consider meeting date change requests from its vendors unless they were vital and necessary. The Administrator was instructed to advise the Fund Consultant of the Board’s decision.

R-4 For Your Information

Chairman Boyd and Mr. Kaufman reviewed for your information.

There being no further business to discuss, a motion was made by Ms. Bernstein duly seconded by Mr. Horday and unanimously

Resolved that the meeting be adjourned. The meeting was

adjourned at 10:23 a.m.

______________________ ___________________________ James W. Boyd, Chairman Jose Del Risco, Secretary

ID# Last Name First Name Start Date Department Name Job Title Union Hire Date22847 ALEGRIA RONALD 6/25/2018 POLICE PATROL TRAFFIC CONGESTION FIELD SPEC. COTH 12/26/2017

22601 CASTILLO HENRY 6/25/2018 CODE COMPLIANCE CODE COMP OFF 1 T CCWA 6/27/201723074 FERREIRO JUAN 6/25/2018 POLICE CRIMINAL INV DIV VICTIM'S ADVOCATE CUNC 6/25/201823084 FORSYTHE SHELLY-ANN 6/25/2018 POLICE CHIEF OFFICE OFFICE ASSOCIATE V CUNC 7/9/201822849 JONES ALICIA 6/25/2018 PUBLIC WORKS STORMWATER STORMWATER OPERATOR D COTH 12/18/201722610 PEREZ ANTHONY 6/25/2018 CODE COMPLIANCE CODE COMP OFF 1 T CCWA 6/27/201723079 RIVERO JESSICA 6/25/2018 PARKS AND RECREATION INCLUSIONARY AIDE CUNC 6/18/201823077 ZAKY HEBA 6/25/2018 PARKS AND RECREATION INCLUSIONARY AIDE CUNC 6/15/201821930 POLE JEZEL 6/27/2018 PARKS AND RECREATION INCLUSIONARY AIDE CUNC 6/27/201823090 BARON YELENA 7/16/2018 FINANCE FINANCIAL ANALYS FIN CUNC 7/16/201822872 PEREZ JACQUELINE 7/23/2018 POLICE CRIMINAL INV DIV CRIME ANALYSIS SPEC CCWA 1/22/201822888 ROSQUETE RAFAEL 7/23/2018 CODE COMPLIANCE CODE COMP OFF 1 T CCWA 1/29/201823093 SHANNON RICHARD 7/3/2018 PARKS AND RECREATION INCLUSIONARY AIDE CUNC 7/3/201822865 GONZALEZ SABA 7/9/2018 PARKS AND RECREATION MSW II CAFC 1/2/2018

3/5/2018 2:05:41 PM

Ordinance No. 2015-3946 NEW RETIREE NAME: Frantz Nazaire DATE OF BIRTH: November 27, 1949 CLASSIFICATION: Business Manager DEPARTMENT: Police Chief Office TERMINATION DATE: July 31, 2018 BENEFITS TO COMMENCE: August 1, 2018 TYPE OF RETIREMENT: Ordinary Service Retirement (LA) CREDITABLE SERVICE: 5.17 ycs EST. PENSION BENEFIT: $650.59 SECTION OF ORDINANCE: Sec. 13 – Employees hired on or after September 30, 2010

Ordinance No. 2015-3946 NEW RETIREE NAME: Darrell Parrmore DATE OF BIRTH: August 20, 1963 CLASSIFICATION: MSW III DEPARTMENT: Public Works Storm water TERMINATION DATE: October 31, 2017 BENEFITS TO COMMENCE: September 1, 2018 TYPE OF RETIREMENT: Ordinary Service Retirement (LA) CREDITABLE SERVICE: 22.03 ycs EST. PENSION BENEFIT: $3,209.39 SECTION OF ORDINANCE: 5.01 – Normal Retirement

ORDINANCE NO. 2015-3946

REQUEST FOR LUMP SUM REFUND

NAME: Igor A Vassiliev CLASSIFICATION: Civil Engineer II DEPARTMENT: Public Works Engineering DATE OF SEPARATION: July 13, 2018 CREDITABLE SERVICE: 3.41 ycs ESTIMATED LUMP SUM DUE: $29,237.44 Federal Tax Withholding: $5,847.49 SECTION OF ORDINANCE: 5.10

ORDINANCE NO. 2015-3946

REQUEST FOR LUMP SUM REFUND

NAME: Carlos E Tamayo CLASSIFICATION: Civil Engineer I DEPARTMENT: Public Works Engineering DATE OF SEPARATION: March 23, 2018 CREDITABLE SERVICE: 2.29 ycs ESTIMATED LUMP SUM DUE: $16,996.34 Federal Tax Withholding: $3,399.27 SECTION OF ORDINANCE: 5.10

ORDINANCE NO. 2015-3946

REQUEST FOR LUMP SUM REFUND

NAME: Jacquelyn Sperling CLASSIFICATION: Financial Analyst II DEPARTMENT: Finance DATE OF SEPARATION: August 10, 2018 CREDITABLE SERVICE: 2.20 ycs ESTIMATED LUMP SUM DUE: $13,799.40 Federal Tax Withholding: $2,759.88 SECTION OF ORDINANCE: 5.10

Ordinance No. 2015-3946 NEW DROP MEMBER NAME: Lucien Desamours DATE OF BIRTH: February 4, 1949 CLASSIFICATION: MSW I DEPARTMENT: Parks Maintenance BEGINNING DROP DATE: August 1, 2018 TYPE OF RETIREMENT: Ordinary Service Retirement (LA) CREDITABLE SERVICE: 11.21 ycs EST. PENSION BENEFIT: $1,191.83 SECTION OF ORDINANCE: 5.13

Ordinance No. 2015-3946

NEW DROP MEMBER NAME: Patricia Reeder DATE OF BIRTH: July 3, 1961 CLASSIFICATION: Executive Office Associate II DEPARTMENT: Police Chief Office BEGINNING DROP DATE: August 1, 2018 TYPE OF RETIREMENT: Ordinary Service Retirement (50%) CREDITABLE SERVICE: 25.11 ycs EST. PENSION BENEFIT: $5,619.97 SECTION OF ORDINANCE: 5.13

Ordinance No. 2015-3946 NEW DROP MEMBER NAME: Gilbert Moreira DATE OF BIRTH: February 19, 1959 CLASSIFICATION: MSW III DEPARTMENT: Parking on Street BEGINNING DROP DATE: August 1, 2018 TYPE OF RETIREMENT: Ordinary Service Retirement (LA) CREDITABLE SERVICE: 20.46 ycs EST. PENSION BENEFIT: $3,039.68 SECTION OF ORDINANCE: 5.13

Ordinance No. 2015-3946 NEW DROP MEMBER NAME: Marie-France Andre DATE OF BIRTH: July 31, 1963 CLASSIFICATION: Info Tech Spec II DEPARTMENT: I.T. Support BEGINNING DROP DATE: August 1, 2018 TYPE OF RETIREMENT: Joint Service Retirement (66.66%) CREDITABLE SERVICE: 19.41 ycs EST. PENSION BENEFIT: $4,016.24 SECTION OF ORDINANCE: 5.13

Lump Sums Paid after July 10, 2018Check Date Name gross withholding check #

7/13/2018 Tatyanah S. Channer 14,436.43$ 2,887.29$ 1168477/13/2018 Danila Bonini 26,298.36$ 5,259.67$ 1168487/18/2018 Michel Mena 7,429.77$ 1,485.95$ 1168587/18/2018 Eric Arencibia 38,436.97$ 7,687.39$ 1168597/18/2018 Ulyssess King 30,230.83$ 6,046.17$ 1168607/18/2018 Rene Guerra 6,392.57$ 1,278.51$ 1168617/18/2018 Jennifer Reyes 10,554.82$ 2,110.96$ 1168627/18/2018 Gregory Toledo 10,613.46$ 2,122.69$ 116863

Checking Account Beginning Balance 6/1/2018 $4,044,433.52

ReceiptsBank deposits $0.00

Wire from Trust $0.00Wire from Money Managers $4,000,000.00Void Benefits/Returned ACH $113,976.20

$4,113,976.20

DisbursementsAdvanced Payroll for June 2018 ($2,309,909.83)

Unclassified Payroll for June 2018 ($1,298,500.94)Administrative Expenses for June 2018 ($135,074.85)

Lump Sum Payments ($23,146.78)Transfer for DROP Payroll $0.00Additional Payroll Checks ($57,969.49)

($3,824,601.89)

Payroll Entry AdjustmentsPrepaid General Payroll Direct Deposit for July 2018 ($1,907,567.84)

Prepaid Unclassified Payroll Direct Deposit for July 2018 ($1,067,088.87)Prepaid General 945 Payroll Taxes for July 2018 ($218,248.70)

Prepaid Unclassified 945 Payroll Taxes for July 2018 ($149,376.49)($3,342,281.90)

Checking Account Ending Balance 6/30/28 $991,525.93

Bank Statement Ending Balance 6/30/28 $1,153,249.60

Less Outstanding ChecksOutstanding Pension Payroll Checks ($151,300.22)

Outstanding Administrative Checks ($10,423.45)Outstanding Lump Sum Payments $0.00

Deposit in Transit($161,723.67)

$991,525.93

Completed by: Checked by:

MIAMI BEACH EMPLOYEES' RETIREMENT PLAN CHECKING ACCOUNT RECONCILIATION - ACCOUNT #0189001219860 (SUNTRUST)

6/30/28

Sandra Sicily Rick Rivera

F:\PENS\$ALL\XcelFiles\CHECKING & TRUST ACCOUNTS\CHECKACC\Checking Account Reconciliations\2018 Checking Account Reconciliation 2018

Checking Account Beginning Balance 7/1/2018 $991,525.93

ReceiptsBank deposits $0.00

Wire from Trust $1,600,000.00Wire from Money Managers $2,000,000.00Void Benefits/Returned ACH $7,121.42

$3,607,121.42

DisbursementsAdvanced Payroll for July 2018 ($2,292,083.29)

Unclassified Payroll for July 2018 ($1,296,330.64)Administrative Expenses for July 2018 ($51,406.71)

Lump Sum Payments ($145,731.90)Transfer for DROP Payroll $0.00Additional Payroll Checks ($7,486.46)

($3,793,039.00)

Payroll Entry AdjustmentsPrepaid General Payroll Direct Deposit for July 2018 $1,907,567.84

Prepaid Unclassified Payroll Direct Deposit for July 2018 $1,067,088.87Prepaid General 945 Payroll Taxes for July 2018 $218,248.70

Prepaid Unclassified 945 Payroll Taxes for July 2018 $149,376.49$3,342,281.90

Checking Account Ending Balance 7/31/18 $4,147,890.25

Bank Statement Ending Balance 7/31/18 $4,307,753.89

Less Outstanding ChecksOutstanding Pension Payroll Checks ($150,492.07)

Outstanding Administrative Checks ($9,371.57)Outstanding Lump Sum Payments $0.00

Deposit in Transit($159,863.64)

$4,147,890.25

Completed by: Checked by:

MIAMI BEACH EMPLOYEES' RETIREMENT PLAN CHECKING ACCOUNT RECONCILIATION - ACCOUNT #0189001219860 (SUNTRUST)

7/31/18

Sandra Sicily Rick Rivera

F:\PENS\$ALL\XcelFiles\CHECKING & TRUST ACCOUNTS\CHECKACC\Checking Account Reconciliations\2018 Checking Account Reconciliation 2018

CITY OF MIAMI BEACH

MIAMI BEACH EMPLOYEES’ RETIREMENT PLAN

MIAMI BEACH, FLORIDA

REQUEST FOR PAYMENT MAKE VOUCHER PAYABLE TO: DATE: August 14, 2018

Sharp Electronics Corporation DBA Sharp Business Systems

Dept. AT 40249 Atlanta, GA 31192-0249

REQUESTED BY AND CERTIFIED

Pension Administrator

DESCRIPTION EXPENSE COST TOTAL

Monthly charges for Sharp Copier

For the month of July 2018 & August 2018

per invoice # 9001247373- dated 07/01/2018 $136.13 $136.13 $136.13 $136.13

Completed by: BC $272.26 INVOICE ATTACHED YES X

NO AUTHORIZED: LETTER ENCLOSED YES

NO

Chairman of the Board of Trustees MIAMI BEACH EMPLOYEES’

RETIREMENT PLAN

MIAMI BEACH EMPLOYEES’ RETIREMENT PLAN PENSION BOARD MEETING

Tuesday, August 14, 2018 10:00 a.m. CITY HALL

Pension Office Conference Room

REGULAR AGENDA R-1 Deferred Items –

A. Sugarman & Susskind demand letter Re: Amada Gonzalez 53 R-2 New Items –

A. Active Member Pension software proposals

(Separate distribution)

B. Updated Summary Plan Description for Board approval- 56

C. Experience Study Engagement Letter- 57 D. Annual Salary review committee composition for

Merit consideration of Pension Administrator R-3 Administrator’s Report

R-4 Investment Reports

A. Fund Consultant – presentation by Milliman

(Separate attachment)

B. Investment Managers – Presentation by PIMCO & Wellington (Separate attachments)

REGULAR AGENDA August 14, 2018 Page 2 R-5 For Your Information

A. DROP update - 59

B. Conference Calendar - 61 C. Milliman update regarding JP Morgan Strategic

Property Fund- 65

D. MBERP Trustee election update- 66

IN ACCORDANCE WITH THE AMERICANS WITH DISABILITY ACT OF 1990, PERSONS NEEDING A SPECIAL ACCOMMODATION TO PARTICIPATE IN THIS PROCEEDING SHOULD CONTACT THE PENSION OFFICE NO LATER THAN FOUR DAYS PRIOR TO THE PROCEEDING. TELEPHONE (305) 673-7437 FOR ASSISTANCE; IF HEARING IMPAIRED, TELEPHONE THE FLORIDA RELAY SERVICE NUMBERS (800) 955-8771 (TDD) OR (800) 955-8770 (VOICE), FOR ASSISTANCE. IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY THE BOARD WITH RESPECT TO ANY MATTER CONSIDERED A THIS MEETING, HE WILL NEED A RECORD OF THE PROCEEDINGS, AND FOR SUCH PURPOSE HE MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDING IS MADE WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED. FLORIDA STATUTES 286.0105 THIS MEETING MAY BE CONDUCTED BY MEANS OF OR IN CONJUNCTION WITH COMMUNICATIONS MEDIA TECHNOLOGY, SPECIFICALLY A TELEPHONE CONFERENCE CALL. THE ABOVE LOCATION, WHICH IS ORDINARILY OPEN TO THE PUBLIC, SHALL SERVE AS AN ACCESS POINT. PERSONS WISHING TO ATTEND SHOULD APPEAR AT THE ACCESS POINT, WHERE TELEPHONIC ACCESS TO THE MEETING WILL BE PROVIDED.

From: Ron Cohen <RCohen@rprslaw.com> Sent: Monday, July 09, 2018 5:53 PM To: Stuart Kaufman <stu@robertdklausner.com> Subject: Amada Gonzalez and Miami Beach General We represent Amada Gonzalez. I am attaching Bob Sugarman’s letter to the Board. As stated by Mr. Sugarman’s office, Ms. Gonzalez became an Employee within the meaning of the Plan as of the payroll period beginning on April 16, 2007, after the March 18, 2006 effective date of the Ordinance. Accordingly, she is entitled to retroactive enrollment to April 16, 2007. Ms. Gonzalez understands that once she is given retroactive enrollment, she will have to contribute to the plan the amount of money that would have been taken from her salary if she had properly been placed in the plan. Can we discuss how to proceed? Ron Cohen Rice Pugatch Robinson Storfer & Cohen PLLC 101 N.E. Third Avenue Suite 1800 Fort Lauderdale, Florida 33301 Tel- 954-462-8000 Fax- 954-462-4300 rcohen@rprslaw.com Web: www.rprslaw.com

SUGARMAN & SUSSKIND PROFESSIONAL ASSOCIATION

ATTORNEYS AT LAW Robert A. Sugarman♦ 100 Miracle Mile Howard S. Susskind Suite 300 Kenneth R. Harrison, Sr. Coral Gables, Florida 33134 D. Marcus Braswell, Jr. (305) 529-2801 Pedro A. Herrera Broward 327-2878 Ivelisse Berio LeBeau Toll Free 1-800-329-2122 Dustin L. Watkins Facsimile (305) 447-8115 David E. Robinson ♦Board Certified Labor & Employment Lawyer

October 13, 2017 Via Email: jimmymorales@miamibeachfl.gov and USPS First Class Mail Jimmy L. Morales, City Manager City of Miami Beach 1700 Convention Center Drive Miami Beach, Florida 33139 Via Email: rickrivera@miamibeachfl.gov and USPS First Class Mail Rick Rivera, Pension Administrator Miami Beach Employees’ Retirement Plan 1700 Convention Center Drive, 1st Floor – City Hall Miami Beach, FL 33139

Re: Amada Gonzalez, CAO Paralegal Specialist - Retroactive participation in Miami Beach Employees’ Retirement Plan

Dear Messrs. Morales and Rivera: We write on behalf of our client, Ms. Amada Gonzalez, who is employed as a CAO Paralegal Specialist by the City of Miami Beach. Ms. Gonzalez informs us that though she has been employed by the City continuously on a regular basis of 30 or more hours per week since the payroll period beginning April 16, 2007, the City has failed to make the required contributions on her behalf to the City of Miami Beach Employees’ Retirement Plan. Section 3.01 of the Plan [effective March 18, 2006] with respect to membership states:

Jimmy L. Morales, City Manager Rick Rivera, Pension Administrator In re: Amada Gonzalez, CAO Paralegal Specialist - Retroactive participation in Miami Beach Employees’ Retirement Plan October 13, 2017 Page | 2

Any person, other than as provided in Section 3.03 herein, who becomes an Employee on or after the effective date of this Ordinance shall be a Member of this Plan as a condition of his employment or office, as of the first day of City employment. Any acceptance of employment with the city shall constitute authorization for the city to deduct contributions from the Earnings of the Employee in accordance with Section 6.02, unless and until the Employee elects not to participate in this Plan [sic] to Section 3.03.

Section 2.13 defines Employee as any person whose regular employment with the City is for 30 or more hours per week. Ms. Gonzalez became an Employee within the meaning of the Plan as of the payroll period beginning on April 16, 2007, after the March 18, 2006 effective date of the Ordinance. Accordingly, she became a Member of the plan as of her first date of employment, and the City was required to begin to deduct contributions on her behalf as of that date. Therefore, we request that you provide to Ms. Gonzalez, within 10 days of the date of this letter and with a copy to this office, all information necessary to initiate the retroactive enrollment of Ms. Gonzalez into the Plan. Please feel free to contact me in the meantime should you have any questions. Sincerely, ROBERT A. SUGARMAN DAVID E. ROBINSON RAS:DER/jd

1

Rivera, Rick

From: Melissa.Moskovitz@grsconsulting.comSent: Thursday, July 19, 2018 6:29 PMTo: Rivera, RickCc: Trisha.Amrose@grsconsulting.com; C100300@grsconsulting.comSubject: City of Miami Beach Employees' Retirement Plan - SPDAttachments: SPD Miami Beach - July 2018.pdf

Hi Rick,  Attached is an electronic copy of the updated SPD.  We recommend the Board and Plan attorney review the document before distributing to members. We will also mail a hard copy to you.   Please let us know if you have any questions.  Regards,  Melissa   

Melissa R. Moskovitz, FCA, EA, MAAA 

Consultant & Actuary One East Broward Blvd. | Suite 505 | Fort Lauderdale, FL 33301 Phone: 954.527.1616 | Fax: 954.525.0083 melissa.moskovitz@grsconsulting.com 

The above communication shall not be construed to provide tax advice, legal advice or investment advice. 

Notice of Confidentiality: This transmission contains information that may be confidential and that may also be privileged.  Unless you are the intended reciimmediately and delete it from your system. 

  

July 11, 2018

Mr. Rick Rivera Pension Administrator City of Miami Beach Employees’ Retirement Plan 1700 Convention Center Drive Miami Beach, Florida 33139 Re: City of Miami Beach Employees’ Retirement Plan Dear Rick: As requested, this letter describes the background, scope of services, associated fees and proposed work schedule regarding preparation of an Experience Study for the City of Miami Beach Employees’ Retirement Plan (“Plan”). BACKGROUND The purpose of the annual actuarial valuation is to keep the funding of the Plan on track. In the actuarial valuation the total liability of the Plan is measured by applying actuarial assumptions to the census data and the provisions of the Plan. The more accurately the actuarial assumptions predict future events, the better the position the Board and City will be in knowing the financial liability for the Plan. Actuarial assumptions should be based on the actual experience of the covered group (to the extent that credible experience data is available), but should emphasize expected long-term future trends rather than give undue weight to recent past experience. The reasonableness of each actuarial assumption should be considered individually and in aggregate with the other assumptions. SCOPE OF SERVICES Gabriel, Roeder, Smith & Company (“GRS”) last prepared an Experience Study Report in May 2011 which covered the experience through September 30, 2010. For this Experience Study, we will collect actual experience from the past seven years (i.e., from October 1, 2010 through September 30, 2017) and will compare actual experience to each of the current assumptions as follows:

Retirement rates Withdrawal rates Disability rates

To the extent actual experience differs significantly from the current assumption, GRS will provide a recommendation. (Please note that we have not included the mortality assumption since the Plan is mandated to use the same mortality assumption as the Florida Retirement System. Further, there is not enough credible data to prepare a meaningful analysis of this assumption.)

Mr. Rick Rivera July 11, 2018 Page 2

The experience study will also include an analysis of the actual salary increases compared to the current assumptions. Additionally, we will seek input from the Board on any negotiated changes in future salaries. Notwithstanding the Board’s approval of lowering the investment return assumption by 0.1% each year until 7.4% is reached in 2019, we will use the current target investment allocation and apply future expected returns to determine a reasonable assumption. The Experience Study Report will show the impact of each recommended assumption change on the required contribution and funded ratio. The Report will also show the combined effect of all recommended assumption changes. Please note that these changes may increase or decrease the overall liability of the Plan. The goal is to create a set of assumptions that will more accurately predict future benefit payouts, which in turn will allow us to estimate future required contributions more precisely. FEES FOR SERVICES The cost to prepare the experience study is about $23,000 to $25,000. This fee is expected to be sufficient to cover the cost of all work associated with the experience study and includes attendance at a Board meeting to present the results. Changes in the scope of the project will affect this fee, and we will provide a revised quote if any changes in scope are requested. PROPOSED WORK SCHEDULE We expect the Experience Study to be completed approximately 8-10 from the date of Board approval. Please let us know if you have any questions concerning this proposal. Sincerely,

Melissa R. Moskovitz, EA, MAAA, FCA Consultant and Actuary

DROP UPDATE August 2018 Agenda DROP

Name Department ‐ Title Start date DROP end date

1 ICMA Put, Pawel Property & Evidence Tech. 9/1/2013 8/31/2018

2 ICMA Dudley Brown Mason 11/1/2013 10/31/2018

3 ICMA Roque, Aracelio Pumping Mechanic 12/1/2013 11/30/2018

4 ICMA Davila, Jimmy Senior Systems Analyst 12/1/2013 11/30/2018

5 ICMA/NW Concepcion Jr., Sergio Information Tech Specialist II 12/1/2013 11/30/2018

6 ICMA Joan, Martha Account Clerk III 12/1/2013 11/30/20187 ICMA Gladys Dixon Pool Guard II 1/1/2014 12/31/2018

8 ICMA Mosley, Bobby MSW III 1/1/2014 12/31/2018

9 ICMA Maria Sanchez Communications Records Custodian 2/1/2014 1/31/201910 ICMA Anthony Throupe Parks Supervisor 3/1/2014 2/28/201911 ICMA Barbara Williams Administrative Aide I 4/1/2014 3/31/2019

12 ICMA/NW Jose Alfonso Water Supervisor 4/1/2014 3/31/2019

13 ICMA Darline Roldan Parking Enforcement Specialist I 4/1/2014 3/31/2019

14 ICMA Debora J. Turner First assistant City Attorney 5/1/2014 4/30/2019

15 ICMA King Choute MSW II 5/1/2014 4/30/2019

16 ICMA/NW Luis Caballero Metered Services Supervisor 6/1/2014 5/31/2019

17 ICMA Nathaniel Frazier Central Services Technician 6/1/2014 5/31/2019

18 ICMA Kathie Brooks Assistant City Manager 7/1/2014 6/30/2019

19 ICMA/NW Donnovan Ireland Central Services Coordinator 8/1/2014 7/31/2019

20 ICMA Edger Rodriguez MSW III 8/1/2014 7/31/2019

21 ICMA Milz, Tommy MSW III 10/1/2014 9/30/2019

22 ICMA Thomas, shirley Buyer 10/1/2014 9/30/2019

23 ICMA Hartnett, Michael System Administrator 10/1/2014 9/30/2019

24 ICMA Babcock, John Police Records Manager 11/1/2014 10/31/2019

25 ICMA Gardner, Larry Maintenance Supervisor 11/1/2014 10/31/2019

26 ICMA Cavanaugh, Daniel Lifeguard II 11/1/2014 10/31/2019

27 ICMA Garcia,  Osvaldo Lifeguard I 11/1/2014 10/31/2019

28 ICMA Zamora, Alberto Sanitation Director 1/1/2015 12/31/2019

29 ICMA Denham, Charles Info Tech Spec II 1/1/2015 12/31/2019

30 ICMA Chiovaro, Maria Case Worker 2/1/2015 1/31/2020

31 ICMA Dufour, Carmin Tax Auditor 2/1/2015 1/31/2020

32 ICMA White, Marvin MSW I 2/1/2015 1/31/2020

33 ICMA/NW Collado, Jesus Sewer Supervisor 3/1/2015 2/28/2020

34 ICMA Reyes Carbajal MSW I 3/1/2015 2/28/2020

35 ICMA Desmond Norris MSW II 4/1/2015 3/31/2020

36 ICMA Sandra Ortiz Administrative Secretary 4/1/2015 3/31/2020

37 ICMA Lesther Fleuinord MSW III 5/1/2015 4/30/2020

38 ICMA Liliane Morissette MSW I 5/1/2015 4/30/2020

39 ICMA Marie Joacilien MSW II 5/1/2015 4/30/2020

40 ICMA Aspil Dessalines MSW III 6/1/2015 5/31/2020

41 ICMA Willie Jackson Jr.  Heavy Equipment Operator I 7/1/2015 6/30/2020

42 ICMA Nestler, Nancy Public Safety Specialist 8/1/2015 7/31/2020

43 ICMA Carlos Da Cruz Office Associate V 9/1/2015 8/31/2020

44 ICMA Bruce Lamberto Engineering Assistant I 9/1/2015 8/31/2020

45 ICMA Poggio, Eduardo Fire Equipment Mechanic 9/1/2015 8/31/2020

46 ICMA Mobley‐Nason, Annette Dispatcher 9/1/2015 8/31/2020

47 ICMA Rebolledo, Rosanna Complaint Operator II 9/1/2015 8/31/2020

48 ICMA Williams, Gwendolyn Public Safety Pay Administrator 10/1/2015 9/30/2020

49 ICMA Rodriguez, Dagoberto Pool Guard I 10/1/2015 9/30/2020

50 ICMA Rodriguez, Pedro Pool Guard I 10/1/2015 9/30/2020

51 ICMA Hemmings, Laurel Code Compliance Officer 10/1/2015 9/30/2020

52 ICMA Perez, Mayra Account Clerk III 10/1/2015 9/30/2020

53 ICMA Valdes, Robert Chief Structural Engineer 12/1/2015 11/30/2020

54 ICMA Anderson, Miguel Snr. Building Inspector 12/1/2015 11/30/2020

55 ICMA Derek Knight Recreation Attendant 1/1/2016 12/31/2020

DROP UPDATE August 2018 Agenda DROP

Name Department ‐ Title Start date DROP end date

56 ICMA Brocato, Emilio MSW II 2/1/2016 1/31/2021

57 ICMA Belorme, Junias MSW III 3/1/2016 2/28/2021

58 ICMA Lee, Robert Code Compliance Officer II 3/1/2016 2/28/2021

59 ICMA/NW Stratton, Harry Painter 4/1/2016 3/31/2021

60 ICMA Stewart, Carlton MSW III 4/1/2016 3/31/2021

61 ICMA/NW Cristobal, Lidia Financial Analyst II 5/1/2016 4/30/2021

62 ICMA Avalos, Adrian Chief BLDG Code Compliance Officer 7/1/2016 6/30/2021

63 ICMA Yanes, Saul Building Services Tech 8/1/2016 7/31/2021

64 ICMA Barr, Estelle Administrative Aide I 8/1/2016 7/31/2021

65 ICMA Eduardo Nunez Heavy Equipment Operator I 9/1/2016 8/31/2021

66 ICMA Charles Uthandi Property & Evidence Tech 9/1/2016 8/31/2021

67 ICMA Alberto Copperi MSW III 10/1/2016 9/30/2021

68 ICMA/NW Ofelia Levy Administrative Aide I 10/1/2016 9/30/2021

69 ICMA Melvin Williams MSW III - Sanitation 12/1/2016 11/30/2021

70 ICMA Gerald Coldros Heavy Equipment Operator II - PW 1/1/2017 12/31/2021

71 ICMA Raul Soria Financial Analyst III 1/1/2017 12/31/2021

72 ICMA Hirschhorn, Christina Police Tech Serv. - Admin Aide II 3/1/2017 2/28/2022

73 ICMA Hatfield, Liliam City Clerk - Asst City Clerk 4/1/2017 3/31/2022

74 ICMA/NW Perez, Patricia PSCU - Complaint Operator II 4/1/2017 3/31/2022

75 ICMA Alexandre, Mario Prop Mngmnt - Plumber 4/1/2017 3/31/2022

76 ICMA Aguila, Raul City Attorney - City Attorney 4/1/2017 3/31/2022

77 ICMA Brown, Lavoris PW - Greenspace Mngmnt - Park Super 5/1/2017 4/30/2022

78 ICMA Garcia, Cayetano Ocean Rescue - Lifeguard I 5/1/2017 4/30/2022

79 ICMA Sonny, Deo PW - Water Pipefitter 5/1/2017 4/30/2022

80 ICMA Tamayo, Orosmon PW - Civil Engineer I 6/1/2017 5/31/2022

81 ICMA Perman, Terry Parks & Rec - MSW III 6/1/2017 5/31/2022

82 ICMA Toussaint, Monier Sanitation - MSW1 6/1/2017 5/31/2022

83 ICMA Butler, Stevy Parks & Rec - MSW I 5/1/2017 4/30/2022

84 ICMA Granados, Dania Police Tech Serv. - Data Entry Clerk 7/1/2017 6/30/2022

85 ICMA Rodriguez, Rosario Building - Permit Clerk I 8/1/2017 7/31/2022

86 ICMA/NW Christian, Jeffery MSW III 9/1/2017 8/31/2022

87 ICMA Diaz, Juan Planning - Planning&Zoning inspector 10/1/2017 9/30/2022

88 ICMA Nunez, Daniel Property & Evidence Tech I 10/1/2017 9/30/2022

89 ICMA Ramirez, Haydee Administrative Aide I - Sanitation 10/1/2017 9/30/2022

90 ICMA Carcasses, Mercedes Code Compliance Administrator 10/1/2017 9/30/2022

91 ICMA Hart, Debora Office Assoc. V PW engineering 11/1/2017 10/31/2022

92 ICMA Christopher Marshall Mechanic III 12/1/2017 11/30/2022

93 ICMA Noborikawa, Jose Electrician - Public Works Sewer 1/1/2018 12/31/2022

94 NW Balbachan, Par I.T. Specialist II - I.T. 3/1/2018 2/28/2023

95 ICMA Hoanshelt, Judy Grants Manager Division Director 3/1/2018 2/28/2023

96 NW Morales, Yamilex  CAO Paralegal CAO 4/1/2018 3/31/2023

97 NW Brown, Denise  Police Records Supervisor - Police Tech 3/1/2018 2/28/2023

98 NW Randi MacBride  Office Assoc. V Code Compliance 2/1/2018 1/31/2023

99 NW Sandra Meyer Office Assoc. V Building dept. 4/1/2018 3/31/2023

100 NW *Martinez, Candelario Chief Electrical Inspector - Bldg dept 6/1/2018 5/31/2023

101 NW *Guerrier, Arielle Police Records Technician - Police dept 6/1/2018 5/31/2023

102 NW *Martell, James Painter - Parking 7/1/2018 6/30/2023

*New DROP Members

DROP Exits Exit Date

Mahadeo, Deowan 7/31/2018

Gaines, Arnold 7/31/2018

Jones, Belcher 7/31/2018

 

 

Memorandum

1

650 California Street, 21st Floor San Francisco, CA 94108 USA

Tel +1 415 403 1333 Fax +1 415 403 1334

milliman.com

August 7, 2018

To: Rick Rivera, Retirement Administrator Miami Beach Employees Retirement Plan

From: Bill Cottle, Jeff Nipp & Steve Cottle Subject: JP Morgan Strategic Property Fund Update

Background We spoke with Ann Cole, a senior member of the JP Morgan Strategic Property Fund yesterday. JP Morgan will broaden the investor base that is allowed to invest in the Fund. Presently, defined benefit pension plans are allowed into the Fund, as well as defined contribution plans. Additional Investors Allowed into the SPF JP Morgan will now also allow non-qualified plans to invest in the Strategic Property Fund. These plans will include domestic endowments and foundations. In addition to these non-ERISA plans, international investors will be allowed to invest in the fund which will include insurance companies and other foreign entities. Relative to the potential impact on the investor base in the Strategic Property Fund and the size of the fund, it was stated that domestic pension plans are, in general, reducing their allocation to real estate, while non-ERISA Plans are generally increasing their allocation to real estate. The make-up of the investor base of the Strategic Property Fund is not expected to change dramatically nor is the size of the Fund anticipated to change significantly. JP Morgan made a commitment to us that they would report on any significant changes to the Fund and investor base in the next three to four quarters. Summary The JP Morgan decision to broaden the investor base of the Strategic Property Fund is not expected to change the structure of the fund, its size or its return pattern. The firm is letting investors know that changes in the investor base are expected but no significant development is anticipated.

We are committed to providing excellent public service and safety to all who live, work, and play in our vibrant, tropical, historic community.

City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www.miamibeachfl.gov EMPLOYEES RETIREMENT PLAN Tel: (305) 673-7437, Fax: (305) 673-7297

August 8, 2018 PLEASE POST

NOTICE OF NOMINATIONS

MIAMI BEACH EMPLOYEES’ RETIREMENT PLAN BOARD OF TRUSTEES

TO ELECT AN EMPLOYEE MEMBER TO THE BOARD OF TRUSTEES OF THE MIAMI BEACH EMPLOYEES’ RETIREMENT PLAN (consisting of Regular Status, Unclassified and Classified Full Time Employees in the Defined Benefit Pension Plan) For a three (3) Year Term Expiring September 30, 2021. Pursuant to the City Ordinance 2015-3946 Unclassified and Classified full time employee members in this Group are eligible to run and vote for this Trustee position. NOTICE IS HEREBY GIVEN that an election will be called for the purpose of electing a new EMPLOYEE member to the Board of Trustees of the Miami Beach Employees’ Retirement Plan. This trustee position is currently held by MBERP Board Trustee JASON CASANOVA who will seek re-election. Members who are interested in running for this position have until Monday, August 27, 2018 at 4:30 pm in which to register, in writing, with the Miami Beach Employees’ Retirement Plan Office, 1st Floor Breezeway, at City Hall, their name and desire to become a candidate. Please include a brief biography with registration. The election will be held during the month of September 2018. Notices will be distributed prior to the election to advise of the election date(s) and to notify which Employees have qualified to become candidates. The highest number of votes cast will elect the individual as Trustee for a term which expires September 30, 2021.