EMERGENCY BOARD MEETING – May 2, 2012

To the Members of the Fraternal Order of Police Lodge # 108

On May 2, 2012 an emergency Board meeting was called to order with FOP and FOPA Board members present to discuss the financial situation of the lodge and sudden increase of insurance rates, both property insurance and life insurance.

At this time the Board reviewed the present insurance cost per member. Unfortunately expenses have risen to outpace current incoming dues. For this reason, the Board has voted to eliminate providing life insurance as a membership benefit instead of raising dues for all. The Board has elected to offer life insurance under the group rate policy to FOP and FOPA members with the cost of the insurance being paid by the member.

The goals and plans which were presented by both the Board and members are ambitious and will need added revenue to bring into reality. Accordingly the Board has decided that this will go into effect on June 1, 2012. The membership dues will remain at $15.00/month.

FOP members wishing to have $15,000 of life insurance (plus the AD&D Indemnity) will pay an additional $157.50 a year. FOPA members wishing to have $7,500 of life insurance will pay an additional $58.56 a year. (June 2012-June 2013) (Yearly premium due prior to June 1, 2012).

We are hoping this does not greatly affect our membership and that everyone will continue to be a loyal member of the Fraternal Order of Police. If there are any questions, or concerns regarding this increase, please let one of the Board members know.

Fraternally,

John Couey
President

GENERAL MEMBERSHIP MEETING MINUTES – APRIL 10, 2012

At approx 1920 hours the meeting was called to order by President Couey. After the opening pledge and the prayer the meeting was called to order.

Roll call of Officers: All present with the exception of Conductor Francesce who was absent and excused from the meeting.

Under sick and distressed: Sgt. Figuerdo had open heart surgery. Deputy Burton from D4 was involved in a traffic crash. Brother Bruce Woodbury had surgery on his back. Chuck and Amy Phillips daughter passed away. Director Gene Leonard’s son passed away. Please keep all of our brothers and sisters in your prayers.

Under the good of the order, 50/50 was drawn and the door prizes were given out. Special thanks to Uncle Louie for donating the door prizes.

The cooks were thanked for an excellent meal.

After closing prayer President Couey closed the lodge at approx 1950 hours.

FRS Defined Benefit vs Defined Contribution

Click here to download and view

Note from Lisa Henning

This was brought to my attention today and if you are in the Investment Plan it would benefit you to go to myfrs.com and see the changes that will come July 01, 2012. The bill has already passed and we were not aware of it….

Each year the Florida Legislature is required by the Florida Constitution to
fund the FRS Defined Benefit plan in an actuarially sound basis. This means
that each year an actuarial study is done to calculate what the employers
contribution must be to make the db pension soundly funded. Each year the
calculation is different. The Defined contribution or investment plan is
calculated on a blended rate based upon the defined benefit plan. There is
no legal requirement or guidelines for the dc plan. The dc plan is actually
not a retirement plan, but an investment account. As the cost of the defined
benefit goes down for the employer, so does the amount that the employer
puts into the investment account. (i.e. the blended rate). Each year the
actuarial rate the employer pays fluctuates dependent upon any changes to
the cost of the benefits and/or the surplus. Surplus is anything over 80%
for the defined benefit plan. The bills that everyone seem to be concerned
about is simply the same budget bill that sets the calculation rate that is
filed every year. The rate is set by an actuarial study and is not
changeable without another study being ordered. Compounded with the 2
billion shortfall, this has made this issue very difficult. The fact that
there are no guidelines or protective laws for the defined contribution plan
is the very reason that we have been fighting to keep the defined benefit
plan protected, and is also the very reason why the legislature wants to get
rid of it. I need to note that we have already made a strong push to have
the legislature answer for lowering the dc amount, but to no avail. Though I
know it makes to cringe to hear it, the democratic leadership fought very
hard to bring the inequities to light, but the republican leadership blocked
it and sidestepped answering any of the questions asked. There were hours of
debate, and given how complicated the issue is, you have probably already
figured out that we gave the democratic caucus all of the questions and
statements made in debate. ( That was why I was running to all those caucus
meetings) I hope that this answers any questions, and if it does not cover
the questions, please feel free to have the members email or call me
directly.

Lisa Henning

GENERAL MEMBERSHIP MEETING MINUTES – February 14, 2012

 

At approx 1920 hours the meeting was called to order by President Couey. After the opening pledge and the prayer the meeting was called to order.

Roll call of Officers 2nd V.P Clamon, Secretary Tagliarini and Trustee Bennet were absent and excused from the meeting.

District III Director Leonard updated the members on what was going on in Tallahassee regarding legislative issues. Director Leonard also spoke about the Police Memorial and upcoming June 2012 conference in Palm Beach Gardens.

Under sick and distressed, Uncle Louie provided information on the passing of John S. Hardy Sr.

Under the good of the order, 50/50 was won by Connie Miller, door prizes were given out and the birthday draw was Mrs. Condon.

The cooks were thanked for an excellent meal.

After closing prayer President Couey closed the lodge at approx 1945 hours.

Hope to see you at the next meeting on March 13, 2012

« Older Entries