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Kissimmee pension board approves consultant fee increase, contract addendum, retirements and SPD updates
Summary
The Board of Trustees approved a fee adjustment for the investment consultant, an addendum to the advisory agreement addressing potential conflicts of interest, a slate of quarterly retirements and returns to contributions, and an updated summary plan description; motions passed unanimously where recorded.
The City of Kissimmee General Employees' Pension Board approved a set of administrative and contractual items during its meeting.
Fee adjustment: Trustees unanimously approved a proposed fee adjustment for the fund's investment consultant. The consultant proposed a retainer fee of $54,000 and a legacy fee of $47,000, retaining the same basis-point equivalent used in the prior contract and offering a three-year guaranteed hard-dollar fee. Craig Holland made the motion to approve and Joe Luck seconded; the motion passed unanimously.
Minutes and expenses: The board unanimously approved the minutes…
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