1994-05-04 General Fund MeetingCITY OF OKEECHOBEE
...,-PENSION BOARD MEETING
DATE: - May 4, 1994
The meeting was called to order by L. C . Fortner, Jr., Chairman,
at 6:30 p.m. Present were L.C. Fortner, Jr., Jim Treewits,
David Sorensen, Roger Jones, and Jerry O'Bannon, pension board
members. Also in attendance were a few employees and a few
visitors.
'OLD BUSINESS:
A draft of the increases discussed at the last pension board
meeting was handed out to all pension board members,
employees, and visitors present.
Amotion was made by Mr. Jones that item #1 (25 years regard-
less of age) and item #5 (an increase of 1.95 and 1.85). The
motion was seconded by Jerry O'Bannon. Discussion followed.
The:original motion was amended by Mr. O'Bannon to include
items #1, item #2 (early retirement with 10 years of service
or more and age 55), and item #5. The amended motion was
seconded by Mr. Jones. The motion was voted on and carried.
A -vote was taken on the main motion -- motion carried.
An impact study would be obtained reflecting these three items
and cost to the City and brought to the meeting for further
discussion before presentation to the City.
The draft letter to be presented to the City Council/John
Drago reflecting these items was reviewed. This letter will
be sent after the impact study is received.
There was no further business for discussion. It was agreed
that a meeting will be held after the impact study is received
to discuss the matter further.
L.C.Fortner,Jr. David R. Sorensen
Chairman Secretary