2013-05-06 Fire Fund MeetingPension Meeting Minutes
Okeechobee City Hall
Firefighter's Pension Board
5 -6 -13
Members present: Adam Crum, Glenn Hodges, Mike Skipper, Gary Ritter, John Kepoke
• Opened with greeting and introduction.
• Discussed previous years, audit statements, and Net assets for 2012 & 2011 with James Bee.
• During those years went form increase from 10% 20% totaling 2.8 million USD
• Discussed 10 year trending plan.
• Motion to approve audit.
o Motion made by Adam Crum. 2nd by Gary Ritter. 5 -0
• The Bogdahn group suggested replacing Bowen -Hanes due to the lack of diversification, and
move toward international and domestic trading.
• Next meeting discuss if replacing manager is needed. Look for possible replacements.
• Continuing education for the pension board was discussed.
• Ask pension attorney about adding overtime to pension, and does the City of Okeechobee
contribute to that fund year to year.
• Discussed pending Bills and Legislature pending in local, state and federal government.
• Financial Disclosure due July 1st 2013
• Motion to send IRS forms to City of Okeechobee for adoption.
o Motion made by Ritter. 2nd by Skipper. Vote 5 -0.
o Operation rule approved about disclosure.
• Approved actuary evaluation report.
o 1st Ritter, 2nd Crum. Vote 5 -0
• Based on advice from financial consultant, the board expects a 7% investment returns over the
next year on long term.
o 1St Ritter, 2nd by Skipper. Vote 5 -0
• Pension Attorney will release all previous documents related to past meeting to board trustees.
• Pension Secretary Mike Skipper nominated by Glenn Hodges, 2nd by Adam Crum.
• Approved summary plan description.
o 1St Ritter, 2nd Crum. Vote 5 -0
• Revised operating rule 15.1: Birthday not for public disclosure.
O 1st Ritter, 2nd by Ski
Written by Mike Skipper
pper. Vote 5 -0
Okeechobee City Firefighter's Pension Secretary