HomeMy WebLinkAboutMinutes GEPB 041499City of Palm Beach Gardens
General Employees Pension Fund
Trustee Meeting
April 14, 1999
The meeting was called to order by Mark Vadas at 8:05 AM. In attendance
were Kent Olson, Mark Vadas, Jack Hanson, Dan Hackman and Steve
Parella.
The first business item was a discussion and approval for Daniel Bembry to
withdraw his contribution to the pension fund and terminate his membership
and future participation. Mr. Bembry's request was approved in the amount
of $11,139.70. The motion to approve the request was made by Kent
Olson and seconded by Steve Parella. The vote on the motion was
unanimous. The Board Secretary will forward the approval to SunTrust upon
receipt of the proper paperwork from Mr. Bembry.
The second business item was a discussion and approval for Maggie
Wedereth for normal retirement. Her plan selection is for 10 years certain
commencing on May the first of 1999. The monthly amount of $698.95 will
be adjusted by the final actuarial certification. A motion to approve was
made by Kent Olson and seconded by Daniel Hackman. The vote on the
motion was unanimous.
A motion to adjourn was made by Kent Olson and seconded by Steve
Parella. The vote to adjourn was unanimous at 8:41 AM.
Respectfully sub itted
Jack Hanson — Secretary — Board of Trustees
Gepf.041499
City of Palm Beach Gardens General Employees
Pension Fund — Trustee Meeting — February 22, 1999
The meeting was called to order by Mark Vadas at 1:35 PM. In attendance, were board members
Jack Hanson, Mark Vadas, Kent Olson, Steve Parella and Daniel Hackman. Also present, were
Scott Christiansen — Attorney, Philip Senderowitz of SunTrust, Joe Boghdan of Investment
Monitoring Services, Barbara Daniels, Derek Daniels, and a stenographer.
Kent Olson made a motion to approve the minutes of November 16, 1998, and December 8,
1998 with a second by Steve Parella. The motion received unanimous approval.
Phillip Senderowitz of SunTrust, gave the investment managers report. Dan Hackman discussed
the asset allocations and percentages thereof. Phillip will have a report prepared on the subject
for the next meeting.
Joe Boghdan of Investment Monitoring Services gave the performance input and discussed the
comparisons with the STP 500.
A motion to pay the invoices from Christiansen and Dehner was made by Steve Parella and
seconded by Kent Olson. It was approved unanimously.
An introduction and welcome to Dan Hackman was given by Jack Hanson and a brief overview
of his background and credentials was given by Dan.
An introduction and details of the disability claim of Barbara Daniels was rendered by Scott
Christiansen. A response and position of the claimant was given by Derek Daniels, her legal
representative. A lengthy discussion followed and Dan Hackman made a motion to approve the
disability claim with a second by Jack Hanson. The motion received unanimous approval.
The attorney's report was given by Scott Christiansen.
A motion to adjourn was given by Steve Parella, seconded by Mark Vadas, and approved
unanimously. The time was noted as 4:27 PM.
- )spectfully submitt , d,
Jack Hanson, Secretary
General Employee's Board of Trustees