1996-02-29 General Fund Meetingy
CITY OF OKEECHOBEE
GENERAL EMPLOYEE PENSION PLAN
TRUSTEE MEETING MINUTES
February 29, 194
Meeting called to order at 7:10 pm. by Mr. L.C. Fortner, Jr.
Trustees Present: L. C. Fortner, Ricky Bonnell, Jerry O'Bannon, Lyn
Lowe.
others Present: Ernie Mahler of Smith Barney, Performance Monitor
Juan "J. C." Carlos Campuzano, Invesco,
Scott Christiansen of Christiansen, Dehner, P.A.
Motion was made by Jerry to approve minutes of November 30th meeting.
Second by Ricky. Vote was unanimous and motion carried.
Motion was made by Lyn to approve expenses as outlined in agenda packet.
Second by Ricky. Vote was unanimous and motion carried.
Motion was made by Lyn to approve new members as outlined in agenda
package with the addition of Glenda Wilson as new dispatcher hired
2/27/96. Second by Ricky. Vote was unanimous and motion carried.
Joint meeting called to order at 7:16 p.m. by Larry Coonfare.
Ernie Mahler of Smith Barney gave quarterly overview of investments. He
showed that the performance had been very good despite some negative
turns on the market. In all, a very good quarter.
J. C. Campuzano gave report on quarterly returns. Overall they were very
good. He discussed the fact that now that the General Employee Board has
given the Money Managers greater investing power their portfolio should
do as well as the Fire and Police funds.
Discussion ensued as to proposed dates for the Joint Pension Board
meetings for 1996. It was finally decided upon as follows:
Wednesday May 22, 1996
Wednesday August 28, 1996
Wednesday November 20, 1996
Scott Christiansen discussed and gave to us a new packet of forms he had
compiled to be used by the Board of not already using a comparable one.
He pointed out that the Designation of Beneficiary was especially
important as this form is binding in case of death and should be kept
updated. The recommendation was made to have each employee submit this
form to replace what may have been submitted previously and keep records
up to date.
Meeting adjourned at 9:10 pm.
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L. C. Fortner, Ch irman
n LoIrvV, Secretary