HomeMy WebLinkAboutMinutes GEPF 010896CITY OF PALM BEACH GARDENS
GENERAL EMPLOYEES PENSION FUND
January B, 1996
The meeting was called to order at 4:00 P.M. In attendance were
Win Weldon, Jerry Bergman, Jack Hanson and Judy Fox; Scott Chris-
tiansen, Ward Foster, Hal Chappell and SunTrust representatives
Philip Robert and Becky Carroll.
Philip Robert and Becky Carroll reported that the Fund invest-
ments for the - quarter ending September 30, 1995, earned 18.20.
Hal Chappell reported that the Fund made $80,000 more than the
actuarial assumption, but should have done better. Therefore,
the Board agreed that SunTrust has until March 30, 1996, to meet
the "INDEX" or we would hire another Fund Manager. Judy Fox will
send a letter to Philip Robert expressing our concerns.
Ward Foster presented his Actuarial Report figured at the State's
new mortality rate assumption. Jerry Bergman motioned that it be
accepted, Win Weldon seconded and all agreed.
Win Weldon approved Hal Chappell's annual fee for 1996, to be
paid quarterly.
The next meeting will be held February 5, 1996 at 3:00 P.M.
The meeting was adjourned at 6:30 P.M.
Respectfully Submitted,
Judy Fox, Secretary