HomeMy WebLinkAbout01-08-1992 Minutes MINUTES OF PENSION BOARD MEETING
Crif January 8, 1992
The meeting was called to order at 6 : 30 p.m. in the Community
Center. Those present were Paul Lewis , Jean Grafton, Tonya Miller,
Judy Henry. Non-board members present were Ivan Poston, Peggy
Psaledakis, Joyce Oliver. Lee Dehner, attorney, and Ward Foster,
actuary were in attendance along with Wayne Thompson and Mike Reed
from the Police/Fire Pension Board.
Tonya Miller moved, seconded by Jean Grafton that Paul Lewis be
Chairman for the board. The vote was unanimous for Mr. Lewis .
Tonya Miller made a motion, seconded by Jean Grafton that Judy
Henry serve as secretary. The motion carried. Judy Henry
nominated Joyce Oliver to serve as the fifth member of the board.
Jean Grafton seconded the nomination and the motion carried.
Peggy Psaledakis talked about the liability insurance policy which
Brown and Brown offered. Judy Henry moved, seconded by Jean
Grafton, that Peggy authorize Mr. Enlow, agent with Brown and
Brown, to proceed with the quote from Aetna. The quote was for a
$1 million liability limit/$2 , 500 deductible , including recourse
coverage for a premium of $2 , 144 annually. Of that premium, $125 .
is for the recourse and Peggy will check with the City Manager to
see if the City will pay that portion of the premium which covers
board members individually.
Judy Henry made a motion, seconded by Jean Grafton, to pay the
attorney' s bills to date . Motion carried. Judy Henry passed
information to board members about a Government in the Sunshine
workshop to be held on January 22 , 1992 . The cost is $30. 00 per
person and Judy moved that the fee be paid from pension funds.
Jean Grafton seconded, motion carried. Three people indicated they
would participate.
Presentations were made by Barnett Banks and Trust Company, SunBank
Capital Management and Investment Counsel Company for money manager
of our fund. After the presentations , Judy Henry made a motion,
seconded by Tonya Miller, that Investment Counsel Company would be
the money manager for our funds. Motion carried.
A reminder was given that on January 20 , 1992 , a meeting will be
held in the Community Center and all employees would be encouraged
to attend in order to ask direct questions of the attorney,
actuary, and money manager. A regular board meeting was also set
for February 18 , 1992 at 9 : 00 a.m. in the Community Center.
There being no further business, the meeting was adjourned at
10 : 15 .
Respectfully submitted,
Judy Henry, Secretary
MINUTES OF PENSION BOARD MEETING
tbe
JANUARY 20, 1992
The meeting was called to order by chairman, Paul Lewis, at 1 : 05 in
the Community Center. Those present were Paul Lewis , Jean Grafton,
Joyce Oliver, and Judy Henry, all board members . Also present were
Lee Dehner, attorney, Ward Foster, actuary, Beth Archer, with ICC ,
and Peggy Psaledakis .
Jean moved to waive the reading of the minutes.
Ward advised that the next meeting a discussion would be held on
the evaluation report , work would be done on a formulation of
investment policy and we would review candidates for a custodial
bank. That meeting will be held February 18th and should last for
two to three hours .
Future meeting dates were set for March 25th at 9 :00 a.m. and April
29th at 9 : 00 a.m.
Ward gave a brief overview of the General Employee ' s Retirement
System, then opened the floor to the audience for their questions .
The meeting adjourned at 2 : 10 .
Respectfully submitted,
Judy Henry, Secretary