2005-11-14 General Fund MeetingCITY OF OKEECHOBEE AND OKEECHOBEE UTILITY AUTHORITY
� PENSION BOARD MEETING
November 14, 2005
T'he meeting held at City ha11 was called to order by Lane Gamiotea at 5:13 PM.
The following Trustees were present: Lane Gamiotea
Jamie Mullis
Katrina Cook
Jerry O'Bannon
Also present were: Scott Christiansen, Attorney
Ernie Mahler, Smith Barney
John Lazsen, Trusco
Marita Rice
John reviewed the capital investment markets and the third quarter performance of each of the
plans. The market has shown resiliency despite higher energy costs and the effects of hurricanes.
T'he fund year to date is up $333,904. He stated Trusco is still committed to high quality growth
stocks, even though that area has not faired as well as other areas.
• Ernie Mahler stated the funds are still underperforming benchmarks, due mainly to the large cap
growth segment. He did not advocate changing investors at the present time.
Upon motion by Jamie, second by Jerry, the Revised Summary Description Plan was approved.
Upon motion by Katrina, second by Jamie, Scott was instructed to draft Minimum Distribution
Rules for money in retirement accounts for departing employees.
Upon motion by Jamie, second by Katrina, the fmancial information for the period July through
September 2005, check registers, portfolio monitoring report, and the list of both terminated
employees and new enrollees were approved.
Upon motion by Katrina, seconded by Jerry, the Classic International Equity Index Fund was
added as a mutual fund for the portfolio.
The minutes of the August 5, 2005 meeting will be reviewed at the next meeting.
The meeting was adjourned at 6:33PM.
R spectfully submitted, _
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