HomeMy WebLinkAboutMinutes GEPB 051898CITY OF PALM BEACH GARDENS
GENERAL EMPLOYEES PENSION FUND
Meeting was called to order at 1:35 P.M. on May 18, 1998 by Steve Parella, acting
chairman at the City of Palm Beach Gardens Office Annex. In attendance were Board
Members Jack Hanson, Barbara Byerly, Steve Parella, Kent Olson, Attorney Scott
Christenson, Joseph Bogdahn, Investment Monitoring Services and Becky Carroll,
representing SunTrust. Member not present was Mark Vadas.
The minutes of the February 23, 1998 meeting were approved as written with a
motion made by Kent Olson and seconded by Jack Hanson. Motion passed with a
unanimous vote.
Becky Carroll from SunTrust Banks of Florida gave a report of our investment
performance for the quarter ending March 31, 1998. She stated through her report
that SunTrust was out performing other growth managers. A commission recapture
report will be given. Joe Bogdahn from Investment Monitoring Services, gave his
report. He presented the Investment Policy Statement. After discussing the policy,
the changes will be made by Joe Bogdahn for the next meeting.
A motion was made by Kent Olson and seconded by Jack Hanson to approve the bill
from Christensen and Dehner in the amount of $827.65 which reflects billing through
February 28, 1998. Motion passed unanimously.
The change of beneficiary form has been distributed, returned and recorded.
Scott Christensen gave his report. The notice was given to all members for the
vacancy and it was returned unanimously for Jack Hanson to continue on the Board
of Trustees. Scott Christenson suggested that the term of offices on the board be
renewed in the month of January.
A motion was made by Steve Parella and seconded by Jack Hanson to adjourn the
meeting at 3:30 P.M.