1993-09-15 Fire Fund MeetingCity of Okeechobee
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Fire Department
Pension Board Meeting
Firefighters,Police,
General Employees
Call meeting to order, September 15, 1993
Trustees present:
Keith Tomey
Chuck McElheny
Rick Holt
A motion was made by Keith Tomey, second by Chuck McElheny to
accept the minutes from the meeting on August 12, 1993, motion
passed. Also present were Lee Lehner of Christiansen Dehner, and
Janna Woods of Shearson Lehman.
Ms. Woods gave a summary of the money managers performance over
the last three years. She distributed pampphlets and gave a slide
i4ftw presentation to the trustees present.Ms. Woods advises that the
boards should maintain the services of Invesco.
Ms.Woods advises that there will be a increase for fees for the
services of Shearson & Lehman. The current rate is $4,000 per year
for all three boards. The adjusted fee will be $3,000 per year for
each board. Discussion of the rate increase will be discussed at
the next meeting of trustees.
Mr. Dehner discussed rules and procedures to operate the pension
plans. He also advised the need for a Proxy voting policy,
Investment policy statment,Forms for plan administration,Plan
document revision, and written contracts with professional
consultants.
Also discussed was the responsibilitys of the trustees, and that
Fudiciary insuarance should be obtained Florida Sunshine Law
requirements were discussed.
55 9.E. Third Avenue • Okeechobee, Florida 34974-2032 • 013/703-4423