April 2018
Trust Tips is a resource for members of the Trusts administered by the Florida League of Cities. Here you’ll find tips and other information from the Florida Municipal Insurance Trust, Florida Municipal Investment Trust, Florida Municipal Loan Council and Florida Municipal Pension Trust Fund. 

Click the hyperlinks above to contact an insurance or financial services representative directly.
  In This Issue:  
  • Insurance 101: Comparing Policies
  • Fee Reduction in Florida League of Cities’ Administered Retirement Plan
  • Call for Applications for FMLC Bond Issue
  • Register Now: Protecting You and Your Short-Term Assets 
  • Why Isn’t Your Employee Back to Work? Creating a Successful Return-to-Work Program
  • Explore the Benefits of Cooperative Purchasing
  • Holmes Beach Receives Return of Premium 
  • Hometown Health Award Recipients: 2017 Program Year
  • Warmer Weather Means Watch Out for Heat Stroke
  • Registration Open: 39th Annual Police Officers’ & Firefighters’ Pension Trustees’ School
  • Links for Further Reading
Insurance 101: Comparing Policies
We know discussing insurance and comparing policies is anything but exciting. As we approach budget season, you may find yourself trying to compare quotes from various insurance providers. Unfortunately, it does not simply come down to which one has the lowest price. “Price” is not the “final cost.” There are significant differences in policy forms from company to company. Even though you may publish a formal RFP, the responses you receive will never be apples to apples. With the information in this article, you will be armed with the knowledge to spot these differences, ask some good questions and be assured that you have done a good job in making the right decision.
Fee Reduction in Florida League of Cities’ Administered Retirement Plan
One of the biggest advantages of the Florida Municipal Pension Trust Fund (FMPTF) retirement plans is low fees. Now, the FMPTF is announcing that it has reduced its own administration fees for current and new plans that have more than $2 million [based on combined 401(a) Defined Contribution and 457(b) Deferred Compensation retirement plans asset sizes]. For more information, click here.
Call for Applications: FMLC Bond Issue

The Florida Municipal Loan Council (FMLC) is accepting applications for its 27 th Series of Bonds to be issued in fall 2018. Bond proceeds can be used for capital improvements, renovations, fixed asset additions and the refinancing of existing debt. The minimum loan size is $1 million. There are flexible terms of repayment, up to a 30-year maturity.

Applications are due no later than April 30, 2018. Click here for an application, and click here for more information on the FMLC. Please return applications via email to Molly Button at mbutton@flcities.com. Contact her if you have questions about the program.
 
This fixed-rate bond pool program enables cities, counties and other governmental entities to finance projects on a cooperative and cost-effective basis to benefit from economies of scale associated with larger financings. 
Register Now: Protecting You and Your Short-Term Assets 

Your city is investing short-term operation and reserve funds, but do you know what factors you should consider to receive the most from this investment? 

The Florida League of Cities is offering a free four-hour seminar in May with representatives from the Federal Reserve Bank. The training will be offered in Plant City (May 14), New Smyrna Beach (May 15) and Oakland Park (May 17). The seminar is designed for municipal finance and treasury professionals. Attendees will earn four hours of Technical Business education credit.  Learn More
Why Isn’t Your Employee Back to Work? Creating a Successful Return-to-Work Program

by Vernell K. Goodridge

In a perfect world, no employee would be injured on the job. Unfortunately, employee injuries do occur. When they do, the best scenario would be that the on-the-job injury is minor and the employee would lose a minimal amount of time from work, would not get an attorney and there would be little to no disruption in an employer’s business operation due to the accident.

In most cases, that scenario is far from reality. We’ve all seen claims that have persisted for much longer than expected or wanted. Some employers have return-to-work programs to assist injured workers transition back to work, sometimes in very restricted and modified capacities, expeditiously.

The overall benefit of a good return-to-work program is apparent. However, there are many hurdles to an injured employee returning to work quickly and successfully after an accident.

Click here to read an article by Cora Physical Therapy that discusses five common obstacles to having a successful return-to-work program and to getting an injured worker back on the job promptly after an injury. Employers should not be discouraged by these obstacles, but they should make every effort to work around the obstacles that are in their control to assist their employees back to work. 

Vernell K. Goodridge is an assistant workers’ compensation claims manager for the Florida League of Cities.
Explore the Benefits of Cooperative Purchasing

Cooperative purchasing provides resources and solutions to local and state government agencies in Florida seeking the best overall government pricing. In accordance with state procurement laws and regulations, contracts are competitively solicited and allow participating agencies to avoid the bid process. This system saves valuable time and resources by lowering the effort and cost associated with traditional procurement. Cost-saving purchasing cooperatives benefit agencies and institutions by exposing them to quick and efficient sources to procure supplies and services by leveraging the volume of participating agencies from across the country. For more information, including information about an upcoming webinar, click here. 
Holmes Beach Receives Return of Premium
Andy Hanson of the Florida Municipal Insurance Trust presented the Holmes Beach City Commission a symbolic check recognizing the return of $5,515 of its property insurance premium at the February 15 meeting. In 2017, members renewing their property insurance shared in a combined $4.5 million refund approved by the FMIT’s Board of Trustees. The Trust has returned $74 million in property premiums to members since 2007.
Hometown Health Award Recipients: 2017 Program Year 

The Florida Municipal Insurance Trust’s annual Hometown Health award recognizes members with group health coverage that meet the nine best practice standards for employee health promotion. For the 2017 program year, there were four recipients of the Hometown Health award:

  • City of Cooper City,
  • City of Greenacres,
  • City of North Lauderdale, and
  • Emerald Coast Utilities Authority.

For more information on the award, click here.
City of Greenacres
City of North Lauderdale
Warmer Weather Means Watch Out for Heat Stroke

Spring is here again. Many of us will enjoy the warmer weather by being outside more on weekends.

What about our workdays? What about our employees? We must be prepared for another hot spring and summer. We must prepare for our employees to be safe during the heat of the seasons. 

Although all year may pose some heat-related concerns, this time of the year is especially dangerous to the folks who work outdoors and to some who work in confined spaces. Heat rises, and so does the opportunity for heat-related illness. Some could experience heat stroke if we don’t prepare them now. For more information, click here. 
Registration Open for 39th Annual Police Officers’ & Firefighters’ Pension Trustees’ School on June 4-6

The 39th Annual Police Officers’ & Firefighters’ Pension Trustees’ School in Tallahassee is sponsored by the Department of Management Services’ Division of Retirement. Click here for more information.