HomeMy WebLinkAboutMinutes GEPF 010494.-..
CITY OF PALM BEACH GARDENS
GENERAL EMPLOYEES PENSION FUND
BOARD OF DIRECTORS MEETING
JANUARY 4, 1994
Meeting was called to order at 4:00 P.M. Attending were Win
Weldon, Tom Thomas and Judy Fox, Trustees; Scott Christiansen and
Hal Chappell.
Win Weldon briefed us on events since our last meeting regarding
the transfer of funds from The Travelers to Sun Bank.
Scott Christiansen presented a draft of the Ordinance for the new
Pension Plan. The following changes were made:
Paragraph B: #4 was deleted as it would be included in V.
#5 will become #4 and read: Individual bonds,
stocks and commingled funds administered by
National or State Banks or evidences of indebt
edness.
Paragraph C: stock shall not exceed 650 of the fund assets.
Wyn Weldon moved we approve the document and have it on the next
City Council agenda. Tom Thomas seconded, all in favor.
Hal Chappell presented the board with the revised Investment
Policy Statement. The following change was made:
Paragraph B was changed to 70% of Market Value
Tom Thomas moved that the amended IPS be approved with the above
change, Judy Fox seconded, all in favor.
Win Weldon moved that when an employee resigns, if the amount
subject to tax is less than $200.00, Judy Fox as a board member
can request a check from Sun Bank.
Scott Christiansen will provide
the next meeting which will be
Council Chambers.
Meeting adjourned at 6:25.
Respectfully submitted,
Judy Fox
a draft of the new plan prior to
4:00 PM, March 7th, in the City
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