2012-02-13 General Fund Meeting•
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CITY OF OKEECHOBEE AND OICEECHOBEE UTILITY
AUTHORITY PENSIOtV BOARD MEETING f�fiINUTES
FEBRUARY 13, 2012
CITY HALL
55 SE THIRD AVENUE
OKEECHOBEE, FL 34974
Page 1
CALL TO ORDER: 5:06 P.M. by Jamie Mullis
TRUSTEE ATTENDANCE: Jamie Mullis, Chairperson Melisa Jahner, Secretary
Linda Tewksbury Daryl Roehm Kevin Barbour
OTHERS PRESENT:
NOT PRESENT:
Scott Christiansen, Attomey
Jack Evatt, Bogdahn Group
Janet McKinley, Financial Liaison
Basii Coule, Financial Liaison
David Kelly, Bowen Hanes
Jamie Mullis began the meeting by introducing the GeneraVOUA Pension Board's new member Daryl Roehm.
Jack Evatt of the Bogdahn Group presented an overview for the quarter ending December 31, 2011 stating this quarter vras
much better. This quarter represented the best retum (15.5 %} for the S& P 500 since the third quarter of 2009 (15.6%). He
then suggested that all three boards consider looking for altematives for investor manager for bonds (fixed income). It is
advantageous to split up the funds and not have just one firm.
Scott Christiansen of Christiansen 8� Dehner, P.A. reviewed the upcoming changes to all three boards Ordinances which will be
presented to the City Council for first reading, March 20, 2012.
CITY GENERALIOUA PENSION BOARD OF TRUSTEE ITEMS:
Linda Tewksbury moved to approve the November 7, 2011 minutes; seconded by Kevin Barbour. Motion carried.
Jamie Mullis moved to approve the Financial Reports items 1-8 of the agenda; second by Linda Tewksbury. Motion carried.
Kevin Barbour moved to direct the Bogdahn Group to proceed with the search for an investor manager for bonds (fixed income);
seconded by Jamie Mullis. Motion carried.
Jamie Mullis moved to accept the Ordinance changes of the definition of Actuarial Equivalent to read from 8 pe�cent to 7
percent interest and to change from 1983 to 1994 Group Annuity Mortality Table; also to change the language to read that
mutual funds may be administered by national or state banks; seconded by Melisa Jahner. Motion carried.
There being no further business, the meeting was adjoumed at 6:30 p.m.
Melisa Jahner, Secretary