2005-02-11 General Fund Meeting• CITY OF OKEECHOBEE AND OKEECHOBEE UTILITY AUTHORITY
PENSION BOARD MEETING
FEBRUARY 11, 2005
The meeting held at City hall was called to order by L. C. Fortner at 5:08 PM.
The following trustees were present: L. C. Fortner
Jamie Mullis
Katrina Cook
Lane Gamiotea
Jerry O'Bannon
Also present were: Scott Christiansen, Attorney
Ernie Mahler, Smith Barney
Mary Durkin, Trusco
Diane Garcia, Trusco
Mary reviewed the capital investment markets and the performance of each of the plans.
Ernie Mahler stated the investment discrepancies with State Street Bank had been settled. He
• indicated that while investment returns were improving, they were still lagging the actuarial
assumptions for return.
Upon motion by Lane, second by Jerry, the board approved a proposed ordinance that would
provide for a DROP retirement program that had been discussed at the November meeting. Jamie
voted no.
Upon motion by Lane, second by Jamie, the financial information for the period November2004-
January 2005, as well as the list of both terminated employees and new enrollees was approved.
Upon motion by Lane and second by Katrina, the minutes of the November 8, 2004 meeting were
approved.
The meeting was adjourned at 6:45 PM.
Respectfully submitted,
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Jerry � . O'Bannon
Secretary
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