HomeMy WebLinkAboutDocumentation_Pension General_Tab 16_05/04/2009BOARD OF TRUSTEES
TEQUESTA GENERAL EMPLOYEES' PENSION TRUST FUND
REGULAR QUARTERLY MEETING MINUTES
May 5, 2008
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Chair Rhodes chaired the meeting from this point forward.
MOTION:
Board Member Mangum nominated Carl Hansen as Secretary; seconded by
Board Member Couzzo. Motion carried by unanimous 4-0 vote.
V. APPROVAL OF MINUTES
2. Meeting Minutes of February 4, 2008 Quarterly Meeting
MOTION:
Secretary Hansen moved to approve the Tequesta General Employees'
Pension Trust Fund Board Of Trustees Quarterly Meeting Minutes for February
4„ 2008 as submitted. Board Member Mangum seconded the motion, which
carried by unanimous 4-0 vote.
VI. PRESENTATIONS
3. Presentation by Actuary -10/1/07 Actuarial Evaluation
Steve Palmquist, Gabriel, Roeder and Smith Company, provided the report, noting
an evaluation was done every other year, and stated there was no issue about the
financial strength of this plan as it was in very good shape.
Consensus of the Board was to wait to increase mortality rates. ~~
Mr. Palmquist advised the Public Safety Officers Pension Board had requested
information on asset smoothing on a 5-year basis, and this board could request a
copy.
MOTION:
Board Member Mangum moved to accept the actuarial valuation report dated
October 1, 2007. Secretary Hansen seconded the motion, which carried by
unanimous 4-0 vote.
Consensus of the Board was to table discussion of asset smoothing to the next
meeting, after receipt of Mr. Palmquist's information.