HomeMy WebLinkAboutMinutes GEPF 030695CITY OF PALM BEACH GARDENS
GENERAL EMPLOYEES PENSION FUND
MARCH 6, 1995
The meeting was called to order at 4:15. In attendance were Win
Weldon, Tom Thomas, Jack Hanson, Judy Fox, Lee Dehner, Ward
Foster, Hal Chappell and Sun Bank representative Brett Barner.
As a point of interest, Win Weldon presented an article on in-
vestments from 1969 through 1995.
Hal Chappell of Performance Measurement Associates presented his
report of the plan as of 12/30/94 and then introduced Brett
Barner, Sun Bank Representative who gave a report on the Fund's
investments for the quarter ending 12/30/95. Brett Barner stated
that although there were loses in this quarter, they should be
made up in the first quarter of 1995.
Since the board had not elected a secretary after Elinor Adams
resigned from the board, Win Weldon nominated Judy Fox to be
Secretary, all agreed.
Ward Foster of Foster & Foster,Inc., presented his Actuarial
Report for the 1993 -1994 plan year. Tom Thomas moved that we
accept this report, Jack Hanson seconded and all agreed.
Win Weldon introduced a copy of a memo from Kent Olson, Finance
Director to Bobbie Herakovich, City Manager regarding the set -
tting up of the Defined Contribution Retirement Plan. Win noted
that the Board still had not been granted a meeting in front of
the City Council for the purpose of presenting the Defined Bene-
fit Plan. Jack Hanson stated that in the Department Head meeting
this morning it was noted that the City Council passed the
Defined Contribution Plan for the City Manager only.
Win Weldon moved that a letter be written to the Mayor with a
copy to each City Council member, the City Manager and the City
Clerk requesting a work shop meeting involving those mentioned
and himself as Board Chairman, Actuary Ward Foster and Attorney
Lee Dehner. Tom Thomas seconded this motion, all agreed.
Hal Chappell presented his new contract to the board. Win Weldon
moved that we accept it, Tom Thomas seconed, all were in agree-
ment. Hall Chappell also wished it noted that his invoice for
the past fiscal year was on page 3 of his performance report.
Judy Fox mention that Kent Olson would like the Pension Fund
bills be paid directly from Sun Bank. Win Weldon so moved.
Tom Thomas seconded and all agreed.
No future meeting date was set. Meeting was adjourned at 6:50
P.M.
Respectfully Submitted,
Judy Fox, Secretary