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Police Officers' and Firefighters' Pension Board <br />March 26, 1998 <br />Page 4 <br />VI. Approval of Pension Board Expenditures <br />MOTION: Moved by Officer McMullen, seconded by Mrs. <br />Moschler to approve the Police Officers' and <br />Firefighters' expenditures as submitted. Motion <br />carried unanimously by voice vote. <br />VII. Approval of Annual Actuarial Valuation Report - Foster & Foster <br />MOTION: Moved by Officer McMullen, seconded by Mrs. <br />Moschler to approve expenditures of the Police <br />Officers' and Firefighters' Plan as submitted. <br />Motion carried unanimously by voice vote. <br />VIII. Approval of STI Capital Management (SunTrust) for Money Manager <br />MOTION: Moved by Firefighter Hayward, seconded by <br />Officer McMullen to approve the Police Officers' <br />and Firefighters' Pension Plan Ordinance for <br />submission to the City Commission. Motion <br />carried unanimously by voice vote <br />IX. Discussion Item - Status of the General Employees' Pension Plan <br />The General Employees' Board could not meet because all employees have opted out of the Defined <br />Benefit Plan to the Defined Contribution Plan. The Board Attorney was asked to draft an ordinance <br />restructuring the General Employees' Pension Board. (Copy of the discussion is attached to and part <br />of these minutes). <br />The City Commission of the City of Casselberry adopted Ordinance 98-906 on April 20, 1998. This <br />ordinance amended Ordinance 97-898, adopted and restated the General Employees' Plan; amended <br />Section 62-452 re membership and also amended Section 62-459 changing the vesting period from <br />ten years to five. (A copy of Ordinance 98-906 is attached to and part of these minutes). <br />X. Adjournment <br />Meeting was adjourned by the Board Chairman at 6:15. <br />