HomeMy WebLinkAbout08-29-2007 Special Session Minutes
Minutes of the Special Session of the
CITY OF OCOEE GENERAL EMPLOYEES’ PENSION BOARD
Held on August 29, 2007
At 125 N. Lakeshore Drive
Ocoee, FL 34761
AGENDA ITEM I. CALL TO ORDER – Chairman Wagner
A.Chairman Russ Wagner
called the meeting to order at 9:15 a.m. in the Conference Room of
the Human Resources Department.
The roll was called and a quorum declared present.
Present
were Trustees Terry Reed, Russ Wagner, Wendy West and Jean Grafton.
Absent
was Trustee Tom Hendrix
Also present
was Jim Carnicella, Human Resources Director/Plan Administrator.
B.Review and Discuss Investment Consultant RFP’s.
Chairman Russ Wagner said he was surprised to see the Board had only received four responses
to the Investment Consultant RFP. Plan Administrator Carnicella responded that the reason was
because companies that have a relationship with investment companies were excluded on the
RFP and stated none of the four companies that responded had that kind of relationship.
Discussion ensued. Trustee/Chairman Wagner asked the Board if they wanted to have a couple
of the companies that responded to the RFP come to the next Board Meeting and suggested they
keep Merrill Lynch on board until the Board can see how the new company performs. Trustee
Grafton asked if the Board wanted all four companies at the next meeting. Trustee Wagner
suggested the Board select the top two. After further discussion it was unanimously decided that
the two Investment Consultants selected to be interviewed by the Board were Bogdahn
Consulting and Burgess Chambers & Associates. Plan Administrator Jim Carnicella suggested
he set up a time and date for the Board to interview the two selected companies and would help
the Board develop some questions to ask them. Trustee Wagner said the Board should probably
interview the two companies before the next regular meeting. Mr. Carnicella suggested the
meeting be an informal workshop, to which Trustee Wagner stated Attorney Dehner should be
present. Plan Administrator Carnicella agreed and said the Attorney should attend the meeting
and develop a contract before the November Board Meeting. Mr. Carnicella advised the Board
that he would contact the two companies that were selected, as well as Attorney Dehner, to see
what date and time the interviews could be set up. Trustee Wagner asked that the meeting be set
up for 9:00 a.m. Trustee Grafton said that if the Board was in agreement and felt like they
wanted to make a change in the Investment Consultant that it should be done as a special
meeting.
The Board then discussed FPPTA Meetings and Conferences and Plan Administrator Carnicella
suggested the Board look at their by-laws regarding training and how someone becomes a Board
Member and the length of time they serve. Trustee Wagner asked the Board if they would be
attending the next FPPTA Session which is being held in October 2007. Jim Carnicella
suggested the Board may want to put in their by-laws that after a certain length of time on the
Board the Trustee would need to be certified. After a brief discussion, it was decided that Plan
General Employees Pension Board
Special Session, August 29, 2007
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Administrator Jim Carnicella and Trustee Jean Grafton would attend the upcoming FPPTA
Session in October but Trustee Terry Reed and Trustee Wendy West would not be able to attend.
Trustee Russ Wagner said he would check his schedule and get back to Jim Carnicella
concerning his attendance.
AGENDA ITEM II. ADJUORN
There being no other business, the meeting was adjourned at 10:55 p.m.
Respectfully submitted by Approved by:
Debbie Bertling ______________________________
HR Analyst Russ Wagner, Chairman