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SEBASTIAN POLICE OFFICER PENSION PLAN
BOARD OF TRUSTEES
Regular Meeting No. 01 - 06
Tuesday, March 21, 2006
City Hall, Council Chambers
CALL TO ORDER: 10: 15 a.m.
ROLL CALL:
Present -Mr. Sexton, Mr. Hovasse, Mr. Wheeler, Mr. Taracka
Absent - Mr. Perez
Motion to approve minutes from regular meeting 04 - 05, December 13, 2006, by Mr. Hovasse and
seconded by Wheeler. Motion passed 4-0.
NEW BUSINESS:
1. Pete Goodrich from Wachovia Securities gave a presentation regarding the Quarterly fund
performance. Our fund outperformed the benchmarks over the past year. The fund is invested
46% equities and 54% bonds. The stock performance is making up ground beiJlg lost by bond
market.
2. Grant McMurray from ICC Capital Management confirmed the report. Grant gave an in depth
analysis regarding the bond strategy. Grant and Pete confIrmed that for the long-term, the
Board should revise its investment policy to allow up to 70% investment in equities.
OLD BUSINESS:
1. Sexton to submit Ordinances to Mr. Stringer for placement on Council agenda.
2. Special meeting required for ordinance regarding local law plan. Sexton will work with Nora to
set a date.
Lee Dehner updated the Board regarding recent legislation. Senate bill 1783 and House bill 2830
passed authorizing early withdraw at age 50.
Being no other business, the meeting adjourned at 11: 10.
Minutes submitted by Jim Sexton, Pension Board Secretary