2015-08-03 Police Fund MeetingCITY OF OKEECHOBEE
POLICE PENSION BOARD
Meeting August 3, 2015
Okeechobee Police Department
55 SE 3Id Ave
OKEECHOBEE, FL 34974
TRUSTEE ':ATTENDANCE:
POLICE: Present: Bettye Taylor, Secretary
Jack Boon
Ray Worley
Absent: Dennis Davis
Ray Worley
CALL TO ORDER POLICE BOARD MEETING: 6:55 PM by Ray Worley.
Jack Boon moved to approve minutes from May 4, 2015 meeting without reading. Bettye Taylor seconded motion. Motion
passed.
Jack Boon moved to approve Treasury Report for 2nd Quarter. Seconded by Bettye Taylor. Motion carried unanimously.
New Business:
1.Jack Boon moved to approve Addendum to Custodial service Agreement from Salem Trust. Seconded by Bettye
Taylor. Motion passed unanimously.
2. Jack Boon moved to approve Fiduciary coverage by Travelers Insurance as presented by Agent LB Bryan and
Company. This is a 3 year contract with cost to be $2763.00 per year. Seconded by Bettye Taylor. Motion
carried unanimously.
3., Jack Boon made motion to approve Gabriel Roeder Smith & Co Compliance Report for City of Okeechobee
Retirement System to be placed on Okeechobee City Website. Bettye Taylor seconded the motion. Motion
carried.
4. Jack Boon made motion to have RFP for Pension Administration position to be sent out by Scott Christiansen.
Bettye Taylor seconded motion. Motion passed.
5., Jack Boon made motion to put out ballot to members of plan for consolidation of Police and Fire Funds. This was
a recommendation of the Actuary and approved of by Legal as a way to cut expenses for both plans. Bettye
Taylor seconded motion. Motion passed
6. Bettye Taylor made motion to send out ballots to all members after Ordinance is approved by City Council to
bring us into compliance according to new Senate Bill 172 in which a shared account has to be set up to address
the State Money . Ballot is to give members the options and then to go to the Council. Jack Boon seconded
motion. Motion passed.
7. Bettye Taylor made motion to table Proposed Budget for Fiscal Year 2015/2016 review until a Special Meeting
could be called. Seconded by Jack Boon. Motion carried.
5. Jack Boon moved to adjourn meeting at 7 Pm. 2nd by Bettye Taylor. Motion carried.
Prepared by: Bettye Taylor -Secretary