General Employees' Pension Board 9/17/26

The City of Punta Gorda General Employees' Pension Board held its quarterly meeting on September 17, 2026. A significant portion of the meeting focused on pension plan options, specifically discussing the possibility of adopting a "popup" survivor benefit option to address concerns raised by a retiree about continued deductions for a deceased spouse's benefit. The board agreed to draft an ordinance to explore this option, with legal review to follow. Additionally, the board approved retaining Wolf Popper LLP, a securities monitoring and litigation firm, to provide ongoing portfolio monitoring services at no upfront cost, with fees contingent on successful recoveries. The board also discussed and approved a cybersecurity vendor evaluation initiative with Fox Point Solutions, aimed at assessing and improving the cybersecurity posture of plan vendors, with an initial fee of $15,000. Other procurement-related actions included approval of custodian access authorization for the new monitoring firm and renewal of the Florida Public Pension Trustees Association membership for 2027. The meeting concluded with approval of fund activity reports and a recommendation to increase cash holdings in the portfolio.