2011-05-09 Fire Fund Meetingr
•
�
LJ
Sy ° kFF
���q_ � �, City of Okeechobee
tILL If�K;�r.
1_
�-
� �ao
� 1915 �
Okeechobee City Fir�fighters Pension
Board Meeting, May 9, 2011
Trustees Present: Bill Douglas, Mike Skipper, John Koepke.
��
• � F� �
Fire I)epartment �R�,�S
A motion was made by lohn Koepke, second by Mike Skipper, to accept the minutes of February 7,
2011, motion passed.
Bowen Hanes reports good numbers the last six months. Discusses national debt. Discusses Asset
Allocation. Advises foreign investments will fluxuate.
The Bogdahn Group discusses Market environment. They are pleased with the job Bowens Hanes is
doing for the boards. The board portfolio did well. All three plans had good growth. They ask us to
consider their new rate from $12,500 to $15,000 as of 10/1/11. A motion was made by Bill Douglas,
second by John Koepke, to accept these new fees, motion passed.
A rep from Salem Trust introduces herself to the boards. She advises that she is available at any time.
Jay McBee from DMHB discusses 2010 audit and 2009 audit. Discusses employee contributions, state
contributions, benefits paid.
Gabriel, Roeder,Smith & Co. reports on Market value of assets.Acturial Value of assets,discusses the
effect of smoothing.
A motion was made by Mike Skipper, second by John Koepke, to accept the Actuarial Evaluation, motio
passed.
Attorney Christiansen questions filling spots on the boards. A motion was made by Mike Skipper, second
by Bill Douglas, to expect a 7% return, motion passed. Attorney Christiansen discusses Bill 1128. This
does not effect the Fire Department.
Meeting Adjorned
�,�,\�t��a�"�'� ``\ '����
Wil'li�m Douglas, Secretary
,,,
���1����
John Koepke, Chairman
55 S.E. Third Avenue . Okeechobee, Florida . 34974-2932 . 863-467-1586 o Fa�: 863-763-4489