1979-03-20 General MeetingCity of Okeechobee
Retirement systems
General, Police & Firemen
Meeting of Trustees of all three systems
Date: March 20, 1979, Time 3:00 PM
Trustees Present: Dr. Edward Douglas, Jinks Reutebuch,
Larry Mobley, Shirley Logston, Phillip Purvis, Chuck
Elders, L.C. Fortner, Jr.
Dr. Edward Douglas and Jinks Reutebuch agreed to pay
Olin Godwin his disability retirement benefit of $9,194.00
less $1,857.00 (cash value of Life Insurance Policy).
$9,194.00 - $1,857.00 = $7,337.00.
The Trustees began to study the proposed revised Retirement
System written by Kruse, O'Conner and Ling, Inc.
Change in Section I of Proposed Ordinance
Section I Definitions
M. Accumulated Contributions:
Interest to be credited after the first 5 years of
employment. No interest to be paid if any employee
terminates prior to 5 years of continuous services with
City. After the first 5 years of service interest
will be credited each January 1.
Change in Section II of Proposed Ordinance
Section II
A. Condition of Eligibility
All persons employed or becoming employed by the City
in any department shall become members of the Retirement
System on the date of employment provided they work
20 hours per week or more.
C. Application by Non - Member.
The Retirement System shall be mandatory for all full
time employees.
Meeting adjourned until March 27, 1979 at an 00 PM.