HomeMy WebLinkAboutMinutes GEPB 051799City of Palm Beach Gardens
General Employees Pension Fund
Trustee Meeting
May 17, 1999
The meeting was called to order by Jack Hanson at 1:45 PM. In attendance
were Scott Christiansen — Board Attorney; Becky Carrol, Phil Senderowitz,
and mark Davis of SunTrust; Joseph Boghdan and Alison Claridy of
Investment Monitoring Services; and Jack Hanson, Kent Olson, Daniel
Hackman, and Mark Vadas of the City of Palm Beach Gardens.
A motion to approve the minutes of February 22, 1999 and April 14, 1999
was made by Jack Hanson and seconded by Kent Olson. The vote on the
motion was unanimous.
The Investment Managers report was given by Phil Senderowitz of STI. He
stated that our accounts are performing about as expected and STI will
monitor the feds interest rates closely.
The Performance Monitors report was given by Joe Boghdan of Investment
Monitoring Services. He stated that the investment policy is being adhered
to by STI to the extent possible at this time and he will advise us at the next
meeting if any changes are necessary.
A motion was made by Jack Hanson and seconded by Dan Hackman to
approve the payment of the invoice to Christiansen & Dehner in the amount
of $1,381.57. The vote on the motion was unanimous.
The Finance Director and board member Kent Olson made a motion to
approve the accumulated interest payment to Daniel Bembry in the amount
of $2,863.96 due to his leaving the employ of the City. The motion was
seconded by Dan Hackman and the vote was unanimous.
A second motion was made by Kent Olson to approve the final actuarial
certification for Maggie Wederath in the amount of $700.91 upon her normal
retirement from the City. The motion was seconded by Dan Hackman and
the vote was unanimous.
Kent Olson stated that the general employees pension plan should have our
own Employee Identification Number. Mark Vadas will complete the form
and send it to the Department of the Treasury to accomplish this task.
The attorney's report was given by Scott Christiansen. The Board of
Trustees directed Scott to update the Summary Plan Description in keeping
with statutory regulation.
A motion to adjourn was offered by Kent Olson and seconded by Jack
Hanson. The vote was unanimous. The time was recorded at 2:49 PM.
Respectfully sub itted
Jack Hanson — Secretary — Board of Trustees
Gepf.051799