Aler’s presentation on the public safety pension fund was a focal point of the meeting. He revealed that the fund achieved a 13.34% total return over the past year but underperformed against the benchmark, primarily due to its real estate holdings and managed equity funds. Aler recommended reducing holdings in underperforming funds and increasing investments in index funds. The councilman also addressed the multiplier of the pension fund, referencing complaints from the pension fund board chairman, which led to a broader discussion about the pension fund’s structure and board representation. Criticisms were levied against the fund’s attorney for overreach in investment matters. Aler proposed the creation of an educational primer to clarify the benefits of the pension plan, a suggestion that garnered support from other council members who underscored the value of educating public safety officers on the subject.

The council also tackled the implications of a proposed bill that could affect pension contributions, resolving to circulate it for review. Discussions underscored the limitations of the council’s authority over the pension fund and the importance of addressing misinformation about the plan.

Further discussions at the meeting included legislative matters such as a bill that could potentially affect the city’s ability to regulate vacation rentals and a separate bill regarding sovereign immunity that might change the limits for claims against municipalities. The council voiced concerns about these legislative actions, particularly their impact on local authority, public safety, and enforcement resources.

On transportation and regional planning, the council demonstrated support for Fort Pierce’s efforts to secure a station stop on the Brightline train service, noting the potential benefits for the region and agreeing to draft a letter of support. This topic segued into a conversation about the impact of train traffic on local communities.

The issue of derelict vessels in the Indian River Lagoon was another significant concern. Deputy Chief Shaw noted the progress in removing these vessels, with three remaining to be cleared. Council members articulated their frustrations with monitoring and removing abandoned vessels, referencing the limitations of new anchoring regulations and the complexities of state laws favoring liveaboards.

Infrastructure concerns were also on the agenda, with updates on a new software system for the building department, the implementation of the new Florida building codes, and discussions on public works initiatives, such as bike path surveys for safety compliance.

Staff updates included reports on pension fund management and budget adjustments, with Deputy Chief Shaw expressing gratitude for council support and discussing a meeting with the Florida Department of Transportation about a crosswalk issue. The council opted to allow FDOT to proceed with their process before considering further options.

The council’s committee reports touched on varied topics, including affordable housing funding, water utilities, and the cancellation of a Utilities Commission meeting. The town manager provided an update on discussions with the county regarding erosion designation and dune restoration, anticipating a substantive update in the future.

The meeting concluded with the mayor’s report, which encompassed a request to bolster finance committee meeting attendance, a summary of the council’s 2023 achievements, and a discussion on A1A traffic frustrations.