HomeMy WebLinkAboutMinutes GEPB 051704City of Palm Beach Gardens General Employees
Pension Fund Trustee Meeting
May 17, 2004
The Meeting was called to order by Jack Hanson at 2:15 PM. In attendance were Jack Hanson,
Ken Steele, Marie Gancalves, Allan Owens, Joe Boghdan, and Scott Christiansen.
Motions to approve the minutes of February 23, 2004 were made by Allan Owens, a second by
Ken Steele, and a unanimous vote.
Maria Gancalves of Sun Trust discussed the BenePay Online Service and told of the benefits
and procedures. Allan Owens stated he would like to utilize the system for our plan.
Joe Boghdan gave the Monitors Report and stated that equities are doing well, but bonds are
logging. Trusco has reacted to our request for a more timely decision making process.
The payments of invoices to Boghdan Consulting for $1,500.00 and Christiansen & Dehner for
$1,420.50 were both approved unanimously by motions by Allan Owens and seconds by Ken
Steele.
The decision to renew our Fiduciary Liability Insurance Policy through Gibson & Wirt, Inc. for an
annual premium of $2,058.00 was unanimously approved. The motion was made by Allan
Owens and seconded by Ken Steele.
The legal services agreement with Christiansen & Dehner was approved for signature via a
motion by Ken Steele and a second by Allan Owens.
The updated Summary Plan Description was discussed by Scott Christiansen. The normal
retirement age has been reduced to 62 and Scott will make the correction. The approval motion
was made by Ken Steele and seconded by Allan Owens. The vote was unanimous. Scott will
render language for Board and City approval to open a position(s) on the Board of Trustees for
retirees and citizen members.
The meeting adjourned at 4:07 P.M.
Respectfully submitted,
Back Hanson, - Secretary
City of Palm Beach Gardens
Pension Board of Trustees