During a recent government meeting, officials discussed upcoming educational opportunities for trustees, including a conference organized by the Florida Public Pension Trustees Association (FPPTA). The conference will take place from January 26 to 29 at the Renaissance Hotel in Orlando, with a summer conference scheduled for June 22 to 25 at the Omni Champions Gate. Attendance is encouraged, as these events provide valuable insights and networking opportunities for trustees.

In a significant development, the board announced plans to implement a fee increase for the first time in 40 years, effective January 1. This decision comes in response to rising operational costs, which have outpaced the pension trust fund's growth. The proposed increase, estimated at around 20%, would raise annual fees from approximately $19,000 to just under $23,000. Board members expressed concerns about the timing of the fee increase, noting that it would take effect before the next scheduled meeting, limiting their ability to discuss or contest the change.

The board clarified that the fee increase is a matter for their internal governance, independent of city oversight. They also discussed the process for evaluating third-party administrative services, indicating that they could draft a Request for Proposal (RFP) to explore alternative service providers if desired. This approach aims to ensure that the board remains compliant with fiduciary responsibilities while seeking the best value for their services.

Trustees were reminded that they could convene a special meeting if necessary, although the next regular meeting is not scheduled until January. The discussions highlighted the board's commitment to transparency and fiscal responsibility as they navigate these changes.