2010-05-10 Fire Fund MeetingJRN-30-2011(SUN) 11:d5
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City of Okeechob�e
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Okeechobee City Firef,ghters
Pension Board Meetin� May 10, 2010
P. OOQ/005
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Fire �epartment
Trustees present: Bill Dou�las, Glenn Hod�es, John Koepke, Gary Ritter
The minutes of the meeting of February 8, 2010 were approved by motion of Glenn HodRes, second by
Gary Ritter, motion passed.
aeport from 8owen Hanes has concerns about the market in the long run due to heavy debt by tha
governmenL Discusses debt in fvreign countries. Market back up today. Bowen iianes staying with hi�h
quality stocks. . . .
Bogdahn Group reports Asset as of 3/31/10 is $2,260.837 up $200,000 half way through the year.
Discusses Comparitive Performance. They are happy with the current results. No cvmpanies being used
on �he scrutinized list.
Gabriel, Roeder, Smith & Co. discuss the Actuarial Valuation, city contributions� gains, losses,historical
losses, gains. A mvtion was made by BiII Dougfas, second by�Glenn Hodges, to accept the Accua�ial
Valuation, motion passed.
Attorney Christiansen brings up bilts discussed in Tallahassee, no bills passed. Changes being made in
the FRS System. An update is needed in the Summary Plan. A motion was made by Bill Douglas, secvnd
by Gary Ritter, motion passed to have update done. A return of 7% is expected by our Consultant.
Motion made by Glenn Hodges, second bylohn Koepke, motion passed. Attorney Christiansen brings up
increase in fees from $290.00 per hour to $3Z5.00 per hour. A moiion was made by Gary Ritter to accept
the increase, second by Glenn HodgeS, motion passed.
Meeting Adjorned
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Williarr� Douglas, Secretary
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lohn Koepke, Chairman
55 S.E. �hixd Avenue . Okeechobee, Florida • 34974-2932 . 863�467-158G . Fax: 563-763-4489