06-18-1990
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POSTOFFICE BOX 100
EDGEWATER. FLORIDA32032
CITY OF EDGEWATER
POLICE PENSION BOARD MEETING
JUNE 18, 1990
2:00 P.M.
SQUAD ROOM, POLICE DEPARTMENT
The meeting of the Board of Trustees of the City of Edgewater
Police Retirement Board was called to order by Chairwoman Nancy
Swiney at 2:10 p.m. in the Squad Room of the Edgewater Police
Department.
ROLL CALL:
Members present were Chairwoman Nancy Swiney, Diana Floyd, John
Borzner, Leo Booth and Gary Butt. Also present were Jack
Ascherl and Sondra Meager-Pengov, Secretary.
apPROVA~ OF MINUTES:
A motion was made by John
accept the minutes as
CARR I ED 5--0.
BClrzner and
presented of
seconded by
March 19,
Gary Butt to
1990.11otion
QJ,...-P Bl.,LSINES~1..
Mr. Ascherl reported he is waiting on a phone call of the current
update of the status of the fiscal numbers. He expects this at
any time.
~EW-ItUs..I NE-.SJi:_
Mr. Ascherl reviewed a report of funds for the period January 1,
1989 thr'ough December 31, 1989. The General Investment Fund
balance as of December 31, 1989 was $419,383.94 with an 1989
average annual rate of return to be 10.32%. Also, the itemized
total expense charges deducted from the fund were $3,632.79.
The pension plan analysis report and the investment
also reviewed (see attached reports).
results were
Mr. Ascherl also discussed and reviewed the Actuarial Valuation
Report for the plan year beginning October 1, 1989. The report
provides the information needed to determine current year
contribution to the plan (see attached report).
The IPG General Account Bond &
newsletter was also provided
newsletter) .
Mortgage Money Market investment
to the board members (see attached
MISC.ELLBNEDUS:
Nothing to report at this time.
AQJ'OUf3.N..I'1ENT :
There being no further business to
Booth made a motion to adjourn,
meeting adjourned at 3:00 p.m.
come before the Board,
seconded by Gary Butt.
Leo
The
Minutes respectfully submitted by:
Sondra Meager-Pengov, Secretary
Police Pension Board
/SMP