1991-04-30 General Fund MeetingCITY OF OKEECHOBEE
GENERAL EMPLOYEES PENSION PLAN
TRUSTEE MEETING MINUTES
APRIL 30, 1991
Trustees Present: L.C. Fortner, Jr., Charles Jordan, Charles Elders,
Dowling Watford, Jr., and Lola Parker
Meeting called to order at 5:15 PM
Motion by Charles Elders to appoint L.C. Fortner, Jr., as General Fund
Chairman. Second by Charles Jordan, motion carried.
Motion by Charles Jordan to appoint Lola Parker as General Fund Secretary.
Second by Charles Elders, motion carried.
Motion by Charles Jordan to change the monthly retirement benefit from 1.6%
of average final compensation to 1.8% for each year of credited service
`VAOW (page 14 of Ordinance). Second by Charles Elders, motion carried.
Chairman L.C. Fortner, Jr., instructed Secretary, Lola Parker, to write a
letter the the Pension Attorney, Lee Dehner, to change the Ordinance draft
accordingly.
The Trustees discussed the definition of salary (page 3 of Ordinance) being
total monthly compensation reported on employee's W-2 form which would in-
clude longevity and service pay as well as overtime and Holiday pay, with
the consideration of including the longevity and service pay but exclude the
overtime and Holiday pay. The Trustees agreed to wait until the Attorney has
a meeting with all General Pension employees for futher discussion.
Meeting adjourned at 6:15 PM.
THESE MINUTES APPROVED AND ADOPTED:
GENERAL FUND CHAIRMAN -�
L.C. Fortner, Jr.
GENERAL FUND SECRETARY PCB
Lola Parker