2002-11-13 Police Fund MeetingJ
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CITY OF OKEECHOBEE
POLICE PENSION FUND
November 13, 2002 5:00 P.M.
MINUTES
Trustees Present: Dennis Wayne Davis, Steve Padgett, Tommy Raulerson
Trustees Absent: Steve Nelson, John Paul Zeigler
General meeting called to order by L.C. Fortner at 5:00 PM.
Report from Bruce Bridges of Invesco. Handed out book of investments.
Report from Earnest Mahler III of Salomon Smith Barney.
• There was some discussion between Police Pension Board Members and the Fund
Advisors, Bruce Bridges and Earnest Mahler III as to the well being of the Pension
Fund. Mahler said each of the investments chosen had out preformed the benchmark
but were still in the negative due to state of the economy.
Meeting Dates for the New Year were approved.
February 12, 2003
May 14, 2003
August 13, 2003
November 12, 2003
5:00 PM
5:00 PM
5:00 PM
5:00 PM
� Attorney Scott Christiansen went over the ordinance changes with regard to General
Employees. Christiansen said the Police Pension Board Ordinance needs to be
restated to bring them up to date.
All boards conducted separate meetings beginning at 6:OSPM.
Chairman Dennis Davis called the Police Pension Board to order.
� Present: Major Tommy Raulerson, Steve Padgett and Bettye Taylor
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Motion was made by Steve Padgett to accept the minutes of the August 14, 2002
Police Pension Board meeting. Seconded by Tommy Raulerson. Motion was carried
unanimously.
Motion was made by Major Tommy Raulerson to accept the changes requested by
Attorney Scott Christiansen on the Ordinances. Seconded by Steve Padgett.
Motion made by Tommy Raulerson to accept John Paul Zeigler's resignation from
Pension Board effective 10/30/02. Seconded by Padgett. Motion carried
unanimously.
Steve Padgett made motion to approve Bettye Taylor to the vacant position.
Seconded by Tommy Raulerson. Motion carried unanimously.
Motion made by Tommy Raulerson to accept Bettye Taylor as Secretary. Seconded
by Steve Padgett. Motion carried unanimously.
Motion made by Tommy Raulerson to approve the retired members payments and
expenses for the period 08/1/02 through 10/30/02.
Weyman Arthur ($1425.62 x 3)
Lawrence Coonfare ($960.81 x 3)
Rehmund Farrenkopf ($2359.89 x 3)
Janis Levin ($ 841.19 x 3)
Larry Mobley ($2534.74 x 3)
Eugene O' Neill ($1151.77 x 3)
Overall total
$4276.86
$2882.43
$7079.67
$2523.57
$7604.22
$3455.31
$27822.06
Seconded by Steve Padgett. Motion carried unanimously.
Members terminated or contributions refunded from August l, 2002 through October
30, 2002.
Motion made by Tommy Raulerson to accept the withdrawal of contributions by
terminated member Ronnie Baker amount of $1925.16. Seconded by Steve Padgett.
Motion carried unanimously.
Motion made by Tommy Raulerson to accept new hire, Mark Shireman. Seconded
� by Steve Padgett. Motion carried unanimously.
Motion made by Steve Padgett to accept Bill by Invesco of $5249.34. Seconded by
Tommy Raulerson. Motion carried unanimously.
Motion made by Steve Padgett to accept JL McBee to be the Fund Auditor.
Seconded by Tommy Raulerson. Motion carried unanimously.
Meeting adjourned at 6:35 PM.
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