HomeMy WebLinkAboutMinutes GEPF 100493CITY OF PALM BEACH GARDENS
GENERAL EMPLOYEES PENSION FUND
BOARD OF DIRECTORS MEETING
OCTOBER 4, 1993
Attendees: Win Weldon, Chairperson, Elinor Adams, Secretary,
July Fox, Jerry Bergman, Thomas Thomas, Board Members
Chairperson Weldon opened the meeting at 9:00 AM.
Judy Fox reported value of the plan as of this date $113,780.82.
July will have a report on Fiduciary Insurance at next meeting.
Representatives from Sun Bank, Barnett and Nations made their presentations.
After discussion by the board members on merits of each,. a motion was made
by Jerry Bergman to adopt Sun Bank contingent upon a contract, seconded by
Thomas Thomas, motion passed.
City has $113,000 employee contribution for deposit in Sun Bank.
Motion made by Judy Fox to request check from City of fund value to be
issued for deposit in Sun Bank account, seconded by Thomas Thomas, motion
passed.
Attorney Lee Dehner had a list of items for discussion, due to length of
bank presentations, only a few were brought up such as: retirement date,
manditory participation, accrual rate, defination of salary etc.
The next meeting is set for Monday, October 25, 1993, 4:OOPM. (All
meetings will now be held at 4:00 PM each month.)
Respectfully submitted,
Elinor C. Adams
Secretary