City of Palmetto Police Officers' Pension Board of Trustees Agenda Packet 2026-05-18
Quarterly Custodial Fee Ratified for Salem Trust
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Description
The Police Officers' Pension Board will ratify a $1,990.88 quarterly custodial fee payment to Salem Trust for services from January 1 through March 31, 2026. The fee is based on the fund’s $17.7 million market value and is automatically debited from the plan.
Contract Details
Contract Amount
Invoice dated 04/10/2026; $1,990.88
Vendor
SALEM TRUST
Agency
City of Palmetto, FL
Contract Type
FINANCIAL_SERVICES
Document Date
May 18, 2026
Contract Term
Quarterly fee for 01/01/2026 to 03/31/2026
Renewal Info
Ongoing custodial agreement with fees assessed quarterly based on fund market value at an annual rate of 4.5 basis points.
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