HomeMy WebLinkAbout09092002SEBASTIAN POLICE OFFICER PENSION PLAN
BOARD OF TRUSTEES
Regular Meeting No. 02 - 03
Monday, September 9, 2002
City- Hall Council Chambers
CALL TO ORDER: 10:10 a.m.
ROLL CALL:
Present - Mr. Ewent, Mr. Sexton, Mr. Taracka
Absent- Mr. Hovasse, and Mr. Perez
Other Attendees: Mr. Dehner, Board Attorney and Mr. McMurry, representative from ICC
Capital Management
Motion to adopt minutes from regular meeting 02 - 02, July 31, 2002 by Mr. Ewert, seconded by
Mr. Perez. Vote: Ewert - Aye, Sexton - Aye, Taracka - Aye, Motion passed 3 - 0
NEW BUSINESS:
Future Pension Board Meeting Notices must contain an Agenda.
Mr. McMurry provided information regarding legislation recently signed by the
President that will protect investors from ENRON type situations. More specifically,
ICC will look out for lawsuits against companies in which we hold stock. They will
file a proof of claim to determine if we would be eligible for any reimbursements in
the future. For this to go into effect, the Board must adopt the legislation as part of its
policy. Mr. Dehner will review and make a recommendation.
OLD BUSINESS:
1. Discussion of the recommended investment policy changes by Mr. Goodrich as set forth
in the June 19, 2002 minutes. The 3 members did want to vote without all 5 members
present. The Board will direct Mr. Goodrich to bring the recommended policy change for
the Board to adopt at the next meeting. Mr. Dehner will review that investment policy
for compliance with the updated legislation.
2. The new forms packet, policy book, and plan summary will be reviewed by the members
and will discuss at the next meeting.
3. Chairperson Ewert gave an update on the status of (previous officer that
received distribution twice). The Board instructed Mr. Dehner to make contact with Mr.
via letter to explain that interest will be assessed if he does not repay the fund.
He still owes the fund $540.70. Other avenues for collection were discussed, but no
direction was given.
Meeting Adjourned at 11:10 a.m.