2005-02-14 Police Fund Meeting•
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Okeechobee Police Department
Pension Board Meeting
February 14, 2005
General Meeting called to Order by LC Fortner at 5:00 PM
Secretary Bettye Taylor was not present during meeting for Lance Powers and Ernie
Mehler's presentation. No notes taken.
Board Attorney Scott Christiansen advised the City Council had been addressed reference
the drop plan.
Attorney Christiansen advised that we should get forms packages from Merita Rice for
each division. We reviewed some provisions of the drop plan. All three boards took a
vote on allowing members in drop to stay as acting members of the trustees. All in favor
passed.
Christiansen advised there is no credit for time served during disability according to
Statute 185. Christiansen advised that on page 28 of the drop plan it should be changed
to take 20% then 80 %. All voted in favor.
Christiansen discussed what happens to pensions if inerger with another agency or
department. He advised there is no change in funding and it protects the retirees.
Christiansen advised the language was changed to allow pension check to pay for
• insurance with out requiring retiree to write separate check for insurance.
Christiansen discussed the rehire of retired person per Statute 185.
Christiansen and all boards discussed changing the cost of living formula.
After discussing several items in the drop plan. All boards voted to accept language per
guidelines Christiansen set up and go forward with plan.
Police Board called to Order at 6:34 by Chairman Denny Davis
Present: Denny Davis, Bob Peterson, Steve Padgett, Louise Chandler and Beriye Taylor
Minutes of Last Meeting read and approved: Motion to approve by Louise Chandler
Steve Padgett 2"d. All in favor
New Business: Approved following Expenditures: Motion made by Beriye Taylor 2°d by
Bob Peterson. All in favor.
November and December Payments to Retirees:
Lawrence Coonfare 1931.22
Rehmund Farrenkopf 4742.88
Janis Levin 1689.92
Larry Mobley 5094.14
Eugene O'Neill 2314.64
Jerome Smith 4893.22
• Arthur Weyman 2865.14
• Total
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23531.16
Expenditures:
Approved payment to Christiansen & Dehner $518.63
Acturial Fees $ 900.00
Approved Payment to Smith Barney $3000.00
Approved payment to Invesco for monies owed $6071.24
Motion made by Steve Padgett to Adjourn at 6:45 PM seconded by Bob Peterson, all in
favor.
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Chair�ian Denny Davis
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Secretary Bettye T'aylor