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HomeMy WebLinkAbout08181994 POPTSEBASIIANPOI_,ICE OFFICERS' REIIREMENT TR UST FUND POST OFFICE BOX 780127 · SEBASTIAN, FLORIDA 32978 TELEPHONE: CITY HALL (407) 589-5330 · POLICE DEPARTMENT (407) 589.5233 FAX (407) 589-5570 AGENDA SEBASTIAN POLICE OFFICERS' RETIR~NT TRUST FUND BOARD August 18, 1994 2. 3. 4. 5. 6. 7. 8. Call to Order Approval of Minutes Treasurer's Report Old Business New Business Chairman'sMatters Trustee'sMatters Adjourn Any person who decides to appeal any decision made by the Sebastian Police Officer's Retirement Board with respect to any matter considered at this meeting (or hearing) will need a record of the proceedings and may need to ensure that a verbatLmrecord of the proceedings is made, which record includes the testimony and evidence uDon which the appeal is to be heard. 9286,0105 F.S.) 'Sen~ng 11)ose Who Have Served Us." MINUTES OF THE MEETING OF TI-IE BOARD OF TRUSTEES OF THE SEBASTIAN POLICE OFFICERS' RETIREMENT TRUST FUND AUGUST 18, 1994 The meeting was called to order at 9:15 a.m.. Roll was called and those present were Chairperson Gregory Gore, Judy Robinson, Eugene Ewert, and Marge Poole; not present was Lawrence Hardison. Mr. Grant McMurry and Mr. Frank Guerriero from Investment Counsel Company were present to update the Board on the POPT investments and to make suggestions on investments. Marge Poole excused herself in order to check on literature Investment Counsel Company had mailed to Board. Upon returning a few minutes later, the taping of the meeting had been stopped; Aider discussion as to why the taping was halted, a motion was made by Gregory Gore to not tape the meetings. The motion was seconded by Eugene Ewert. Upon a roll call vote the vote was as motion follows: Gregory Gore, Yes; Eugene Ewert, Yes; Judy Robinson, Yes; Marge Poole, No. The carried and all taping was again discontinued. Mr. McMurry then proceeded to explain bond investments and how the investments were determined based on interest rates, yield and various other factors. He made a suggestion that the Board invest in some stocks at this time based upon the fund balance. A discussion followed as to the amount to be invested in a stock program. Judy Robinson suggested 15% and Eugene Ewert suggested 20% of funds to be invested in stocks. Judy Robinson looked over the listing of stocks Mr. Guerriero brought with him to the meeting. After further discussion by the Board, Eugene Ewert made a motion to invest 20% funds in a stock program. This motion was seconded by Judy Robinson. Motion was passed by a unanimous vote. A recessed was called at 10:00 a.m. and meeting resumed with all present at 10:10 a.m.. Mr. McMurry and Mr Guerfiero were asked some questions regarding Fund performance Evaluation and they said that Society Trust (formerly Key Trust) could provide the evaluation as part of their function as monitors of the POPT account. Motion to ask Greg Gore to contact Society Trust and Prudential Securities and ask the lesser expensive of the two to do the Performance Evaluation made by Marge Poole. The motion was seconded by ~ludy Robinson. Motion approved by unanimous vote. "Serving Those Who Have ~ Us." Mr. Mc Murry and Mr. Guerriero left the meeting since their presentation was over. Motion to approve minutes of July 15, 1994 meeting made by Judy Robinson and seconded by Eugene Ewert. Motion approved by unanimous vote. Old Business: Vouchers received from Society (Key) Trust to be used to pay expenses incurred and approved by the Board. McCarthy Claim. A completed claim for disability was received by Chairman Gore. The Board has the right to select physicians and/or psychiatrists examine Mr. McCarthy in relation to the claim he has made. Chairman Gore to contact Board Attorney Vince Torpy for the names of physidans and/or psychiatrists. Motion was made by Eugene Ewert to contact the Board Attorney to verify the legality of the claim form and that it meets with the criteria of Chapter 185. Motion seconded by Judy Robinson. Motion passed by unanimous vote. Eugene Ewert made a motion to contact the Board Attorney asking if, by law, the proceedings of the Board meetings are to be tape recorded. Motion seconded by Gregory Gore. Passed by unanimous vote. Motion for adjournment made by Gregory Gore and seconded by Judy Robinson. Meeting adjourned at 10:55 a.m. L�1Y rct TIAPl 1 cE 1's�B.��,�v or�c� o CERS�a1 to� ancmto.% _R W TIR ET -T� US T F UA D 11051'urrICE BOX 7110117 • SEBASIIAN, FLORIDA 32974 TELEPHONE: Cl IN MALL (407) 509-5330 • POLICE DEPARTMENT (407) 589-5233 FAX (407) 589-5570 July 19, 1994 Sebastian Police Department Attn: Marge Poole P.O. Box 780127 Sebastian, Florida 32978 Dear Marge, Please arrange to have a meeting room set aside for the members of the Board concerning the August 18th meeting with the Investment Counsel Company. Thank you. Very truly yours, By Gregoryore Chairman, Bo d of Trustees GJG:dmg =— F-� o w rn GJ -a ' n "Serving chose Who [-lave Served Us." ` 1 Potj .:360 AS 14 SEBASH" POLICE OFFICERS' o -+; •�7 ALOWISM 2 jM=AfElff TRUST FUAD :�,�, POST OFFICE BOX 780127 • SEBASTIAN, FLORIDA 32978 TELEPHONE: CITY HALL (407) 589-5330 • POLICE DEPARTMENT (407) 589-5233 FAX (407) 589-5570 MEMORANDUM Date: July 29, 1994 To: Kathryn 0TWoran, City Clerk From: Marge Poole, Secretary ryh,-fwX-- SebaMin Police Officers' Pension Trust Board Re: Scheduled Meeting Sebastian Police Officers' Pension Trust Board - This is to notify you that a meeting of the Board of Trustees of the Sebastian Police Officers' Pension Trust will be held in the City Manager's Conference Room on Thursday, August 18, 1994 at 9:00 a.m. "Serving Those Who Have Served Us."