1994-10-20 General Fund MeetingCity of Okeechobee
General Employees Pension Board
October 20, 1994
The meeting of the City of Okeechobee General Employees Pension
Board was called to order at 7:10 P.M. by L.C. Fortner, Jr.,
Chairman.
The trustees of the General Employees Pension Fund present were
L.C. Fortner, Jr., Jim Threewits, Roger Jones, Jerry O'Bannon and
David Sorensen. Also in attendance were twenty-nine members.
The meeting was called to discuss the direction the members would
like to see the Board to proceed in to possibly obtain improved
benefits. Four options were presented to the members. Option No.
1 was the option the members voted to pursue. Option No. 1
included age 55 early retirement with 10 years of service and 25
years normal retirement with a 1.95% multiplier. The members
voted to contribute an additional 1% to the pension fund if the
City Council would accept this proposal. The board asked Jim
Threewits to send a memo to Mr. Drago, City Administrator and
City Council requesting to be placed on the City Council Agenda
at the earliest possible date to discuss the proposed change in
the pension ordinance.
There being no further business, Motion was made by Roger Jones
and seconded by Jerry o'Bannon the meeting be adjourned, motion
carried. The meeting adjourned at 9:30 P.M.
Landon C. Fortner, Jr.
Chairman
David Sorensen
Secretary