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SEBASTIAN POLICE OFFICER PENSION PLAN
BOARD OF TRUSTEES
Regular Meeting No. 04 - 05
Tuesday, December 13, 2005
City Hall, Council Chambers
CALL TO ORDER: 10: 15 a.m.
ROLL CALL:
Present -Mr. Sexton, Mr. Hovasse, Mr. Wheeler, Mr. Perez
Absent - Mr. Taracka
Motion to accept the results ofthe Police Officer's re-election ofHovasse and Wheeler to the Board
by Mr. Sexton and Seconded by Mr. Hovasse. Motion passed 3 - O.
Motion to select the 5th member of the Board, Rappy Perez, by Mr. Sexton and Seconded by Mr.
Wheeler. Motion passed 3-0
Motion to appoint Mr. Wheeler as Chair, Mr. Hovasse as Vice-Chair and Mr. Sexton as Secretary
by Mr. Perez and seconded by Mr. Wheeler. Motion passed 4-0.
Motion to approve minutes from regular meeting 03 - 05, September 20, 2005, by Mr. Perez and
seconded by Hovasse. Motion passed 4-0.
NEW BUSINESS:
1. Pete Goodrich from Wachovia Securities gave a presentation regarding the Quarterly fund
performance. Current earnings at 1.9%. Fiscal Year to Date, 8.91%. He predicts the year-end
numbers will be good as well.
2. Rochelle Hayes from ICC Capital Management confirmed the report. She stated the fund
outperformed the S&P Index. We reviewed the funds top 10 holdings.
3. Lee provided a legislative update to the Board. Senate Bill 1783 passed - the Bill reduces early
withdraw age without penalty to age 50.
OLD BUSINESS:
1. Lee Dehner reminded the Board to update the Bureau of Archives and Records Management
regarding the Boards official Records Liaison. Motion to nominate Debbie Krueger to be the
Records Management Liaison Officer for purposes of FL Statute 257.36 by Mr. Sexton and
seconded by Hovasse. Motion passed 4-0. The Board Directed Mr. Sexton to send the
information to the Bureau of Archives and Records Management.
2. - Sexton will contact him regarding the final ruling from CJSTC and request that he
withdraw his funds in a lump sum.
3. - Lee Dehner, Pension Board Attorney, reviewed the records provided by the City
including the final employee action notice, memorandum from Lt. Witt to Officer
placing him under investigation, Officer resignation letter, and the FDLE/IA report.
Mr. Dehner advised the Board that Officer termination was NOT the result of his
disability or inability to perform his duties due to an injury. Mr. Dehner recommended that the
Board NOT proceed with application for benefits. The Board directed Mr. Dehner
to respond to via letter notifying him that he is ineligible for benefits.
Being no other business, the meeting adjourned at 11: 15.
Minutes submitted by Jim Sexton, Pension Board Secretary