1990-05-17 General Fund Special MeetingCity of Okeechobee
Pension Board Meeting Minutes
General Employees
May 17, 1990
Meeting called to order at 7:30 PM.
Trustees present: Charles Elders, Roger Jones and L.C. Fortner, Jr.
Others present: Mr. Lee Dehner, Attorney, Mr. Rock Tate and Mr.
Harry Strunk representing Shearson Lehman, Mike Matus and Bruce
Bridges representing Invesco, and Bernice Elders.
Mr. Lee Dehner spoke to the joint meeting of the trustees,
concerning the legal aspects of pension funds and the length of
experience he had representing other Municipality Pension Plans.
Mr. Dehner specializes in pension plans and has been working in the
State of Florida since 1979. Mr. Dehner's hourly rates would be
$150.00 per hour while doing legal work and one half of that fee
for travel time. He would also bill for reimbursement for out of
pocket expenses incurred in connection with the representation and
travel if hired by the City's pension boards.
I,,,, After hearing Mr. Dehner's presentation and having all questions
answered by Mr. Dehner, Charles Elders made a motion to hire Mr.
Dehner as the attorney for the General Employee Pension Board. The
motion was seconded by Roger Jones. Motion carried.
Mr. Bruce Bridges & Mike Matus spoke to the joint meeting of the
trustees concerning the explanation of the investments and
statements sent out by C&S Bank.
Discussion was held to continue to maintain the current checking
account at Sun Bank. This would allow the local expenditures to be
paid from this local account rather than request a check from C&S
Bank. After discussion Charles Elders made a motion to keep the
checking account at Sun Bank. Motion was seconded by Roger Jones
and motion carried.
Discussion was held concerning the Fla. Public Pension Trustees
Association Annual Conference to be held June 24 thru June 27, 1990
in Key West. This conference would cover items concerning each of
the three pension plans of the City. After discussion motion was
made by Charles Elders and seconded by Roger Jones to allow up to
three General Employee Trustees to attend the conference in Key
West plus expenses incurred to attend the conference. Motion
carried.
The Trustees reviewed expenses, new employees and terminated
employees. Motion was made by Charles Elders and seconded by Roger
Jones to approve the expenses, new employees and terminated
employees as printed. Motion carried.
Trustees reviewed the minutes of the January 29, 1990 meeting.
Motion made by Charles Elders and seconded by Roger Jones to
approve the minutes as written. Motion carried.
Their being no further business, the meeting adjourned
approximately 9:30 PM.
These Minutes Approved and Adopted:
General Fund Chairman "� f
L.C. Fortner, Jr.
General Fund Secretary (-f`r_t 1lf
Charles R. Jo)?aon