HomeMy WebLinkAbout08-11-1999 Agenda MINUTES OF THE CITY OF OCOEE GENERAL EMPLOYEES'
RETIREMENT TRUST FUND MEETING HELD AUGUST 11, 1999
CALL TO ORDER
The meeting was called to order by Chairman Dabbs at 10:10 a.m. in the commission
chambers conference room at Ocoee City Hall. The roll was called and a quorum
ascertained.
PRESENT: Chairman Dabbs, Trustee Carter, Trustee Ison and Trustee Oliver. Also
present were Attorney Dehner, Philip Senderwitz, Client Service Officer STI and Fund
custodian Diane Garcia, STI.
ABSENT: Secretary Grafton
APPROVAL OF MINUTES OF MAY 18, 1999 MEETING.
No minutes available for approval.
OTHER BUSINESS
Authorize Payment of Bills and Report on Terminated Employees' Contributions
Returned and retired Employees' benefits Initiated.
The following bills and returns of contributions were submitted for approval:
Christiansen& Denner May 31, 1999 $ 1,928.45
June 30, 1999 360.00
City of Ocoee June 98-May 99 47.19
Suntrust 10,914.43
Return of Contributions:
Abra Horne (July 7, 1994 - June 30, 1999) 10,332.18
Trustee Ison, seconded by Trustee Carter, moved to ratify the bills and returns of
contributions as reported above. Motion carried 4-0.
DROP PLAN
Attorney Dehner gave update on the status of the DROP plan provision. Mr. Denner
informed the Board the he had met with the administration of the City and the City's
actuary, Foster & Foster to discuss the DROP plan provision the Board was
recommending. He stated that the City expressed concerns about whether the City wants
employees to stay up to 5 years past retirement age because it impedes upward mobility;
the guarantee that no employee would work past the drop period and that this provision
would not add any cost to the City. The Board directed the attorney to move forward on
the Drop Plan provision and present to City Commission for approval.
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