02-13-1996 Minutes THE CITY OF OCOEE
*l.• POLICE OFFICERS' /FIREFIGHTERS'
RETIREMENT TRUST FUND (PENSION BOARD MEETING)
February 13, 1996
Chairman Reed called the Police Officers' /Firefighters' Pension Board to order at 1:10 p.m.
in the Commission Chamber Conference Room of City Hall, and a quorum was declared
present.
PRESENT: Chairman Reed, Members Williams and Wilson. Also present were Attorney
Christiansen, Actuary Garrett, Money Manager Ballew, and Clerk/Stenographer
Lewis.
ABSENT: Members Gledich and Strosnider.
APPROVAL OF MINUTES
In response to Clerk Stenographer Lewis, Attorney Christiansen said that under REPORTS,
page 1, that Attorney Dehner had been referring to the City ordinance as the "document."
Member Williams, seconded by Member Wilson, moved to approve the Minutes of the
November 29, 1 Police Officers /Firefighters' Retirement Trust Fund meeting as presented.
Motion carried 4 -0.
QUESTIONS /COMMENTS FROM AUDIENCE
None
OTHER BUSINESS WAS HEARD AT THIS TIME DURING THE MEETING
STATE REPORT FOLLOW -UP
Attorney Christiansen reported that they had completed the Investment Policy Statement. He
also explained the status of the ordinance, and said that Attorney Delmer had met with the City
Manager. The Plan document and a cross - reference table had been sent to the City but it had
been postponed because of proposed changes as the result of the upcoming Legislative session.
Discussion ensued about the proposed changes, as follows:
1) Firefighter buy -back of the military time,
2) Changes involving Chapter 175 and 185,
3) The gender verbiage, and
4) The disability hearing process should be placed in the ordinance.
PRE - RETIREMENT SEMINAR
Chairman Reed explained that Great West had asked if they could be placed on the seminar
agenda. Member Wilson, seconded by Member Williams, moved that the Board will not invite
any representatives to the deferred compensation plan to make presentations at the Pre -
Retirement Seminar. Motion carried 3 -0.
r.. REPORTS
Police Officers' /Firefighters' Retirement Trust Fund
,.■ February 13, 1996
to
MONEY MANAGER
Money Manager Ballew presented the Board with the following:
1) Proxy Voting records from SunTrust to Chairman Reed. Mr. Ballew will have a copy
of the proxy voting mailed annually to the Chairman of the Board.
2) The analysis of the investment performance of the Police Officers /Firefighters Retirement
Trust Fund for the period ending December 31, 1995. The Plan had a very good return
for the entire year.
Actuary Garrett arrived to the meeting at 1:43 p.m.
PERFORMANCE MONITOR
Performance Monitor Garrett presented an analysis of the investment performance of the
Police Officers' and Firefighters' Retirement Trust Fund for the period from January 1, 1994
through December 31, 1995. The Plan's manager had ranked in the 34th percentile performance
for the year, and 9th percentile for the quarter. Although there had been some rough times, it
had been a good quarter and year for the Plan.
ACTUARY
Actuary Garrett presented Chairman Reed with the Annual Report. Discussion ensued about
changing the percentile ranking, and Attorney Christiansen suggested that the Board annually
%kw set goals and objectives for the Plan. A realistic goal was for the Plan to be in the top third of
the percentile over a 3 to 5 year period.
ATTORNEY
None
Member Wilson left the meeting at 1:57 p.m.
ATTORNEY COMMENTS
Attorney Dehner explained that the Board had not authorized payment of the bills, and
recommended that "Bills Authorized For Payment" be included on the regular meeting agenda.
He suggested a separate sheet listing the statement amounts for the Board packet.
ADJOURNMENT
The next meeting will be Tuesday, May 14, 1996, 1:00 P.M. At 2:35 P.M. the meeting was
adjourned.
Respectfully submitted,
Judie Lewis, Clerk/Stenographer
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