Coral Gables Retirement Board

City of Coral Gables 405 Biltmore Way Coral Gables, FL 33134 www.coralgables.com Agenda Thursday, November 10, 2022 8:00 AM City Hall, Commission Chambers Coral Gables Retirement Board Coral Gables Retirement Board Agenda November 10, 2022 1. ROLL CALL 2. CONSENT AGENDA 2A. Approval of October 18, 2022 Retirement Board meeting minutes 2B. Approval of Retirement Benefit Certifications 3. COMMENTS FROM RETIREMENT BOARD CHAIRPERSON 4. ITEMS FROM BOARD ATTORNEY 5. 2023 COLA DETERMINATION LETTER The net rate of investment return on the market value of assets during the year ending September 30, 2022 was calculated by the actuary to be negative 15.7%. Therefore, the cost-of-living increase is not eligible to be granted on January 1, 2023. 6 UPDATE ON ADMINISTRATIVE HYBRID ARRANGEMENT 7. INVESTMENT ISSUES 8. REQUEST APPROVAL OF LUMP SUM DEATH BENEFIT Request for approval of a lump sum benefit instead of the pre -retirement survivor benefit payment for the Estate of Christy King. Since Ms. King did not designate a beneficiary, the assets of her benefit go to the Estate for distribution. This request is in accordance with the Retirement Ordinance Section 46-255 (a)(5). 9. OLD BUSINESS 10. NEW BUSINESS 11. PUBLIC COMMENT 12. ADJOURNMENT City of Coral Gables Page 2 Printed on 11/09/2022 3:03 PM Coral Gables Retirement Board Agenda November 10, 2022 NOTE: ZOOM MEETING - ID 812 7170 0817 The Retirement Board will be holding its regular board meeting on November 10, 2022 commencing at 8 a.m. Members of the public may join the meeting via Zoom at https://us06web.zoom.us/j/81271700817. A dedicated phone line will be available so that any individual who does not wish or is unable to use Zoom may listen to and participate in the meeting by dialing (305) 461-6769 Meeting ID: 812 7170 0817. To speak on an Agenda Item, please “Raise your Hand” or send a message to the meeting host using the Zoom Platform. If you joined the meeting via telephone, you can “Raise your Hand” by pressing “9.” Pursuant to Resolution No. 2021-118, the City of Coral Gables has returned to traditional in-person meetings. Board members and City Staff will be physically present at the Police and Fire Headquarters in Community Meeting Room A. All interested persons may be heard via the Zoom platform used by the City for live remote comments. City of Coral Gables Page 3 Printed on 11/09/2022 3:03 PM