1995-03-08 General Fund MeetingCITY OF OKEECHOBEE
GENERAL EMPLOYEES PENSION BOARD
MARCH 8, 1995
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The meeting of the City of Okeechobee General Employees Pension
Board was called to order by L.C.Fortner, Jr., Chairman at
7:00 p.m.
Trustees present were L.C. Fortner, Jr., Jim Threewits', Jerry
O'Bannon, Roger Jones, and David Sorensen. There were twelve
members in attendance also.
APPROVAL OF MINUTES: The minutes for the May, June, July, and.
October business minutes were presented. A motion was made by
Jim Threewits to approve the minutes. The motion was seconded by
Roger Jones. The motion was voted on and carried.
APPROVAL OF NEW MEMBERS, TERMINATED MEMBERS, RETIRED EMPLOYEE
PAYMENTS, AND OTHER EXPENSES: It was reported that there were.
three new members, three terminated members, payments to three'`
retired employees, and other expenses of $1217.85. It was.
motioned by Jim Threewits to approve the above. The motion was' ----
seconded by Dave Sorensen. The motion was voted on and carried:._'.
REVIEW OF ACTUARIAL EVALUATION: a report was given by Theora
Braccialarghe, Kruse, O'Conner & Ling. It was motioned by Jim
Threewits and seconded by Roger Jones to approve this report.
,It was voted on carried.
INVESTMENT REPORT: An investment report. was given by Smith,
Barney -Shearson and Invesco Capitol Management. A motion was
made.: -.by Jerry O'Bannon and seconded by Roger Jones to approve this
report. The motion was voted on and carried.,
TRUSTEE REPORT: L.C. Fortner, Jr. presented the trustee report and
request. The report requested whether to continue going forward
with the improve benefit package considering the related expenses
involved on obtaining this package to be presented to the City
Council. A motion was made by Jim Threewits and seconded by Dave
Sorensen to go ahead with the study. A very lengthy discussion was
held concerning this. The motion was voted on and carried.
It was motioned by Jim Threewits that a Scott Christian of
Christian & Dehner by appointed to present the package to the City
Administrator and City Council. The motion was seconded by
Dave Sorensen. It was voted on and carried. (A copy to the letter
presented to Mr. Drago by Mr. Christian attached),.
There was no further business for discussion. A motion to adjourn
was made by Roger Jones and seconded by Jim Threewits. The motion
was voted on and carried. The meeting was adjourned at 9:30 p.m.
L.C.Fortner, Jr., Chairman David Sorensen, Secretary