HomeMy WebLinkAbout11-11-2008 Minutes - Not signed
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THE CITY OF OCOEE POLICE OFFICERS’/FIREFIGHTERS’
RETIREMENT FUND BOARD MEETING – NOVEMBER 5, 2008
I. Acting Chairman Secretary Strickland called the meeting of the City of Ocoee Police
Officers’/Firefighters’ Retirement Trust Fund to order at 1:04 p.m. in the Commission Chambers
of City Hall. The roll was called and a quorum declared present.
PRESENT: Acting Chairman Secretary Strickland, Member Coschignano, Member
McCosker, Member Gledich. Also present are Attorney Dehner, Performance
Monitors Mike Welker & Tim Nash (Bogdahn), nominee Joe Rodriguez and
Recording Secretary Betty Decker.
ABSENT: Chairman Brown (excused).
II. APPROVAL OF MINUTES
Member Gledich makes a motion to approve the Minutes from August 6, 2008, the Special
Meeting Minutes on September 25, 2008, and the Special Meeting Minutes on October 21, 2008,
seconded by Member McCosker. All motions passed unanimously.
III. AUTHORIZE/RATIFY PAYMENT OF BILLS
Secretary Strickland makes a motion to authorize payment of bills, seconded by Member
Coschignano. Motion passed unanimously.
IV. RUN-OFF ELECTION – VERIFY VOTES
Member Gledich, seconded by Member Coshignano, makes a motion to verify votes of the run-
off election. Votes were counted as follows:
35 votes for Joe Rodriguez and
9 votes counted for Steve McCosker
Motion passes unanimously and the votes are certified.
Attorney Dehner tells new Member Rodriguez that he has 30 days to file paperwork with the
Chief of Elections. Steve McCosker leaves the chair and new Member Rodriquez assumes his
position on the board.
V. NEW BUSINESS
Trustco - Shane Coldron presents report for third quarter 2008
Seix Investment Advisors- Charlie Leonard - presentation for Fixed income management for the
quarter.
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Mike Welker from Bogdahn gives a review from the Oct. Special Meeting.
Beggs & Lane - Gregory Miller, Esq. and Levin PA Group - Peter Mougey, Levin, Papentonio,
Thomas, Mitchell, Echsner & Practor PA - introduces himself and answer questions regarding
the Merrill Lynch suit; working in conjunction with Beggs & Lane.
Member Coshignano asked that if ML was our funds' watchdog what damage may have occurred
to our plan by ML. Mr. Mougey explains the part ML played by hiring money manager
companies for the plans and how the situation and suit occurred.
Attorney Dehner says that the board will need to determine if an injustice was done to PFPP in
regards to Merrill Lynch and the managers they hired to manage the pension fund and had asked
Beggs and Lane and Levin PA Group to come and explain the situation.
Member Rodriguez makes a motion for documents to be presented for investigation, seconded by
Member Gledich. Motion passes unanimously.
Secretary Strickland will collect all the documents for the investigation.
Mike Welker of Bogdahn wants to do a presentation for Member Rodriguez and Coshignano to
catch them up to speed in regards to reviewing the policy and the money managers that are new
this year.
VIII. SET MEETINGS FOR 2009
Quarterly meetings for 2009 are scheduled as follows:
Feb. 18, at 1300
May 13, at 1300
Aug. 5, at 1300
Nov. 4, at 1300
IX. ADJOURNMENT
Motion to adjourn was made by Member Coschignano, seconded by Member Gledich. Motion
passes and the meeting is adjourned at 2:41 pm.
Respectfully submitted,
______________________________________
Betty Decker
Pension Board Recording Secretary
Contact the City Clerk’s Office to listen to an electronic copy of the complete minutes.
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