HomeMy WebLinkAboutMinutes Fire Pension 03100605/0312006 12:31 5616243278 PESOUPCE CENTEP PAGE 08/06
PALM BEACH GARDENS FIREFIGHTERS' PENSION FUND
MINUTES OF MEETING HELD
March 10, 2006
A meeting of the Board of Trustees was called to order at 3:10 P.M. at Station 3, Palm
Beach Gardens, Florida. Those persons present were:
TRUSTEES OTHERS
Richard Beladino Margie Adcock, Administrator
Tom Murphy Alan Owens, Finance Director
Ed Morejon Ray Ellis, City Clerk's Office
FIDUCIARY LIIABILITY INSURANCE
Margie Adcock provided the Board with a quote for Fiduciary Liability Insurance froth
Ulico. The Board discussed the quote and the deductible. A motion was made. seconded
and carried 3 -0 to accept the quote for Fiduciary Liability Insurance from Ulico with a
$5,000 deducible.
ACTUARIAL REPORT
It was noted that the quote for fiduciary liability insurance was obtained without the need
to change the Valuation. A motion was made, seconded and carried 3 -0 to approve the
Actuarial Valuation as of October 1, 2005 as presented at the last meeting.
OTHER BUSINESS
Ms. Adcock provided the Board with a copy of the final Annual Audit. She also
provided the Board with a letter from the Investment Monitor for the real estate ordinance
that was requested at the last meeting. There was a discussion on who would be
presenting the real estate ordinance to the City Council. The Board gave direction For the
Board Attorney to attend the City Council meeting if necessary.
Ray Ellis stated that their records show that the terms for Ed Morejon and Philip
Buttaravoli have expired. Ms. Adcock advised that Ed Morejon was reappointed in
January for another two year term and she would forward the notice of reappointment to
him. She noted that she would place the reappointment of Philip Buttaravoli as the 56'
Trustee on the next agenda.
There being no further business, the meeting adjourned at 3:25 p.m.
Respectfully submitted,
lid Morejort, Secretary