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SEBASTIAN POLICE OFFICER PENSION PLAN
BOARD OF TRUSTEES
Regular Meeting No. 02 - 06
Tuesday, June 20, 2006
City Hall, Council Chambers
CALL TO ORDER: 10:15 a.m.
ROLL CALL:
Present -Mr. Sexton, Mr. Hovasse, Mr. Perez, Mr. Taracka
Absent - Mr. Wheeler
Motion to approve minutes from regular meeting 02 - 06, March 21, 2006, by Perez and seconded
by Taracka. Motion passed 3-0. (Hovasse came in after this vote)
NEW BUSINESS:
1. Sexton notified the Board of his resignation due to taking employment at Indian River County.
He stated he would complete the minutes of this meeting as his last official act.
2. Pete Goodrich from Wachovia Securities gave a presentation regarding the Quarterly fund
performance. Our fund outperformed the benchmarks and ICC is doing a great job with our
money.
3. Grant McMurray from ICC Capital Management confirmed the report. Grant gave an in depth
analysis regarding the bond strategy. Grant stated that our fund does well in a bond market.
OLD BUSINESS:
1. None discussed.
Lee Dehner updated the Board on some issues:
I. The Board needs to schedule a special meeting to discuss the local law plan document.
Hovasse will work with Nora to get a special meeting scheduled so the Board can discuss
the details of the Plan.
2. Lee asked Sexton to contact Mr. Stringer regarding the Ordinance that was submitted.
3. Lee distributed an updated Summary Plan Document (no changes). After the Local Law
Plan is adopted a new Summary Plan Document will be developed.
Being no other business, the meeting adjourned at 11: 1 O.
Minutes submitted by Jim Sexton, Pension Board Secretary