1992-09-28 General Fund MeetingCITY OF OKEECHOBEE
GENERAL EMPLOYEES PENSION PLAN
TRUSTEE MEETING MINUTES
SEPTEMBER 28, 1992
,%WW The joint quarterly meeting of the Police, Fire and General Employees
Trustees was called to order at 6:58 P.M.
Trustees Present: L.C. Fortner, Jr., Charles Elders, Ben Loftin, Danny
Entry and Lola Parker.
Others Present: Bernice Elders
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Motion by Charles Elders and seconded by Ben Loftin to approve the minutes
for March 30, 1992 and July 7, 1992.
Motion by Ben Loftin and seconded by Charles Elders to approve new
employees from April 1, 1992 thru June 30, 1992.
Motion by Charles Elders and seconded by Ben Loftin to approve terminated
employees from April 1, 1992 thru June 30, 1992.
Motion by Ben Loftin and seconded by Charles Elders to approve payment to
the retired employees from April 1, 1992 thru June 30, 1992.
Motion by Ben Loftin and seconded by Charles Elders to approve payment to
the retired employees from April 1, 1992 thru June 30, 1992.
Motion by Ben Loftin and seconded by Charles Elders to approve expenses
from April 1, 1992 thru June 30, 1992.
Motion by Charles Elders and seconded by Ben Loftin to continue with
current auditing firm of Hill, Barth & King at $1,800. with additional
expenses not to exceed $500.00 and with consensus to address auditing firm
for year end 1993 at next meeting.
Following discussion of the Pension funds in local banks and the various
interest rates, a motion was made by Charles Elders and seconded by Ben
Loftin to transfer the funds from Sun Bank to Big Lake National Bank with
2% interest with minimum balance of $1,000. and no service charges. This
was for all funds.
Motion by Charles Elders and seconded by Ben Loftin to instruct Attorney
Scott Christiansen to revise General Fund Employees Pension Ordinance so
there would by no impact to the city's budget for 1992/93 by updating and
changing the ordinance language. Following discussion it was decided to
table whether to continue with money monitors. Police Pension Fund
Trustee Larry Coonfare to contact the Pension Attorney and actuarial for
instruction.
There being no further business meeting was adjourned at 7:57 P.M.
THESE MINUTES APPROVED AND ADOPTED:
GENERAL FUND CHAIRMAN
C Fortne��r, QQJr
GENERAL FUND SECRETARY _ 12�'�1�_
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Lola Parker