1990-10-04 Police Fund MeetingCity of Okeechobee
Police Pension Board Meeting
October 04,1990
Trustee's present: Larry Mobley, Larry Coonfare and Cathy Kozol.
``"a" Meeting called to order at 7:20 p.m..
General Employee's, Police and Fire have a combined meeting.
H.Lee Dehner, Legal Counsel for the combined boards, is present and updates boards
on his progress in completion of the proposed draft of changes needed in our plans
and in the City Ordinances governing our plans. Mr.Dehner advises that he will have
his proposal ready for the next meeting of the boards, he further suggests that we
have a meeting in the month of November so each board can review and amend his
proposed drafts.
Theora P. Braccialarghe of the Acturarial Firm Kruse, O'Conner and Ling, Inc., is
present and reviews the status of each retirement system. She advises that the
retirement systems are financially sound and possible benefit increases should be
considered by each board. She further explains how the impact statements are
founded.
Motion by Larry Coonfare to allow Theora P. Braccialarghe to perform a study on how
the Police Pension Fund would be impacted if benefits are increased. Studies to
include increasing multiplier of 2 to a multiplier of 3, age 52 with 25 years
service and full retirement, 25 years of service and full retirement, 55 years of
age with 10 years service and eligible for benefits and to study the impact with
multipliers of 2.5 and 2.75. Motion was seconded by Cathy Kozol. Motion was
unanimously carried.
Motion by Cathy Kozol to approve the minutes of the last meeting, seconded by
Larry Mobley. Motion was unanimously carried.
Motion by Larry Coonfare to approve expenses from July 01,1990 thru September 30,1990,
with expenses consisting of $2038.17 to Kim Leibenguth as a terminated employee and
$687.20 to H.Lee Dehner for professional services rendered. Motion seconded by
Cathy Kozol. Motion was unanimously carried.
Motion by Larry Coonfare to adjourn the meeting, seconded by Cathy Kozol.
Motion was unanimously carried.
Meeting was adjourned at 9:10 p.m..
Police Fund Chairma >
Police Fund Secretary /