HomeMy WebLinkAboutMinutes GEPF 090293CITY OF PALM BEACH GARDENS
GENERAL EMPLOYEES PENSION FUND
BOARD OF DIRECTORS MEETING
SEPTEMBER 2, 1993
4:00 PM
Attending: Win Weldon, Jerry Bergman, Thomas Thomas, Judy Fox,
Elinor Adams and Lee Dehner, Attorney
The meeting opened at 4:20 PM with the nimonation of Win Weldon
as Chairperson, Elinor Adams, Secretary and Thomas Thomas as
5th Board member. All were uncontested and elected by the board.
Win Weldon recommended PMA (Performance Measurement Assoc.) as
advisors to pick a plan manager due to fee structure and management
of many municipal plans. Motion was made to accept PMA
by Jerry Bergman, seconded by Elinor Adams, motion passed with no
discussion.
Termination of contract with Travelers was discussed with
.,f
Motion made for Foster & Foster be de�gated as acturial consultants
subject to fees not exceeding $5,000per year and special acturial
fees not to exceed $225 per hour and contingent upon successful
negotation of a contract with Board and Mr. Foster. Motion made by
Tom Thomas, seconded by July Fox, there being no further discussion,
motion passed.
Attorney Lee Dehner's comments to the Board:
Set a schedule of meetings as soon as possible in tamdem
with Fire and Police Boards and City Council to save attorney
expenses. Tentatively Monday and Thursday PM.
Develop a Plan Document
Operating Rules and Procedures (which is a manuel for
administration of fund).
By State Statute, we need a summary plan description.
Sunshine Law Violations by Board members were discussed
and things to protect Board such as fiduciary insurance, etc.
Board meeting date and time to be announced 1 week in advance.
Chairperson WAdon asked Attorney Dehner for an addenda for each
Board meeting.
The next board meeting was set for Thursday, September 16, 1993
at 11:00 AM at the Central Fire Station.
There being no further business, meeting adjourned at 6:55 PM.
Respectfully submitted,
Elinor Adams
Secretary