2005-08-08 Police Fund Meeting�
Okeechobee Police Department
Pension Board Meeting
August 8, 2005
Meeting called to Order by Denny Davis.
Present were Denny Davis, Bob Peterson, Louise Chandler, Steve Padgett and
Bettye Taylor
Motion made by Louise Chandler Seconded by Steve Padgett all in favor to accept
expenditures as follows:
Attorney Christiansen $877.16
Auditor McBee $3437.23
Acturiary Gabriel $835.00
Pensions Paid $35,296.74
Discuss made on request by Charlie Merry to determine benefits paid if he needs to
go out on retirement due to health issues. Will be brought back before board once
Merry has full medical diagnose.
Motion made by Bob Peterson seconded by Steve Padgett to adjourn.
• General Meeting called to Order by LC Fortner.
Mary Durkin-Trusco
Markets were up this quarter. They are trimming back on growth market
due to under performing. Gave brief review of each portfolio.
Ernie Mehler-SmithBarney
Advised his numbers and Truscos are slightly different. Will get with Dianne
Garcia to find cause. Advised it appeared the portfolios will have good fiscal year.
Advised Numbers were decent would like to see International look better. Advised
we had been with Trusco for 2 years and 9 months. Steve Padgett stated he did not
think it had been two years. Mehler then advised that Padgett was correct it had
been 21 months. Advised he would like to see some improvement in Truscos
investments in growth funds. Asked if we would like him to bring in other companys
for possible change. All boards advised this was premature and would like to give
Trusco time to adjust to market.
Christiansen-Attorney
Advised he had not done Drop Fund Forms yet and would wait until some
members come closer to Drop time.
Advised we needed to do letter to Charles Slavin reference Acturial Study.
Merita Advised she would do letter.
• Advised Louise Chandler needs to be reappointed by City Council and Bob
Peterson is up for reelection.
• Advised no legislature has been passed that would effect pension plan.
Adv'sed Police got slight increase in State Money.
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Chairman Denny Davis
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Secret�ry Bettye T'aylor
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