4970 CITY HALL BLVD  
NORTH PORT, FL 34286  
City of North Port  
Meeting Minutes  
Municipal Firefighters Pension Trust  
Fund Board of Trustees  
Friday, March 22, 2024  
9:00 AM  
City Commission Chambers  
1. Call to Order  
Chair McCloud called the meeting to order at 9:00 a.m.  
2. Roll Call  
5 -  
Present  
Board Member Paul Kaskey, Board Member Scott Duff, Board Member Howard  
Bearse, Chair David Hawes, and Board Member Terry McCloud  
Also Present:  
Paul Donnelly (Donnelly & Gross) via phone, Jorge Friguls (AndCo), Ferrell Jenne (Plan  
Administrator), Mark Rhein (Salem Trust), and Assistant City Clerk Matthew Powell  
3. Pledge of Allegiance  
The Pledge of Allegiance was led by the Board.  
4. Public Comment  
Chris Krajic: spoke to North Port Fire Rescue Share Plan.  
A
motion was made by Board Member Kaskey, seconded by Board Member  
Bearse, to extend the time allotted for public comment by an additional ten  
minutes. The motion carried unanimously on voice vote.  
5. Approval of Minutes  
24-0487  
A.  
Approval of Minutes for the December 15, 2023 Firefighters Pension  
Board of Trustees Meeting  
A
motion was made by Board Member Kaskey, seconded by Board Member  
Bearse, to approve the Minutes as presented. The motion carried unanimously on  
voice vote.  
6. Reports  
24-0491  
Salem Trust, Mark Rhein, Board Custodian  
A.  
Chair McCloud announced the item.  
Mr. Rhein spoke to pension portal statistics and Salem Trust acquisition.  
Discussion took place regarding accessibility.  
24-0492  
AndCo, Jorge Friguls, Investment Consultant  
B.  
Chair McCloud announced the item.  
Mr. Friguls spoke to AndCo acquisition.  
Discussion took place regarding contract consent letter.  
A motion was made by Board Member Kaskey, seconded by Board Member Hawes,  
to approve the consent letter as presented. The motion carried unanimously on  
voice vote.  
Mr. Friguls spoke to market updates, bond yields, interest rates, employment statistics,  
macro economic environment, portfolio allocation, and performance.  
7. New Business  
24-0493  
24-0494  
24-0495  
Discussion and Possible Action Regarding Benefit Estimates  
A.  
B.  
C.  
Chair McCloud announced the item.  
Ms. Jenne spoke to benefit calculation process, fees, and timeline.  
Discussion took place regarding costs, frequency of requests, and member statistics.  
Discussion and Possible Action Regarding Adding Excluded Members to  
the Share Plan  
Chair McCloud announced the item.  
Discussion took place regarding interpretations, negotiations, attorney versus Board role,  
legal review, public comment provided, and cost study.  
Discussion and Possible Action Regarding Trustee Term Expiration  
Chair McCloud announced the item.  
Ms. Jenne spoke to reappointment process.  
Discussion took place regarding member status.  
A motion was made by Board Member Hawes, seconded by Board Member Bearse,  
to elect Board Member Duff to serve another term on the Municipal Firefighters  
Pension Trust Fund Board of Trustees pending approval by City Commission. The  
motion carried unanimously on voice vote.  
8. Old Business  
There was no old business.  
9. Consent Agenda  
Chair McCloud announced the item.  
Ms. Jenne introduced the items in the consent agenda.  
A
motion was made by Board Member Kaskey, seconded by Board Member  
Bearse, to approve the consent agenda as presented. The motion carried  
unanimously on voice vote.  
24-0496  
24-0497  
24-0498  
Payment Ratification  
A.  
B.  
C.  
This item was approved on the consent agenda.  
New Invoices for Payment  
This item was approved on the consent agenda.  
Fund Activity Report for December 9, 2023 – March 15, 2024  
This item was approved on the consent agenda.  
10. Staff Reports, Discussion, and Action  
24-0499  
Ferrell Jenne, Plan Administrator  
A.  
Chair McCloud announced the item.  
Ms. Jenne spoke to audit timeline and educational opportunities.  
Discussion took place regarding conference opportunities.  
11. Trustees' Reports, Discussion, and Action  
Chair McCloud announced the item.  
Discussion took place regarding pension portal timeline.  
12. Public Comment  
13. Adjournment  
There was no public comment.  
Chair McCloud adjourned the meeting at 10:15 a.m.  
By: _____________________________  
Terry McCloud, Chair