02-21-1989 Regular MeetingMiami Shores Village
Pension Board Meeting of February 21, 1989
The meeting of the Village of Miami Shores Pension Board was called to order by
Mayor Spero Canton at 8:10 a.m. The following were in attendance:
Board Members:
Also Present:
Absent:
Mayor Spero Canton
Mr. William Walker
Dr. Robert Butler
Sgt.Jack Ulmer
Ms. Ann Held and Mr. Scott Givens
of NCNB
Ms. Karen Cole,Mr. Gerald Bott and Mr.David Newman
of Kidder Peabody & Co.
Mr. Bill Eickhoff of Eickhoff & Pieper
Mr. Bill Fann, Village Attorney (Arrived 9:30a.m.)
Ms. Gail Macdonald, Plan Administrator
Ms. Patricia Varney
Mr. Elly F. Johnson
Mr. William Heffernan
1. Quarterly Investment Reviews:
Eickhoff & Pieper - Mr. Bill Eickhoff reported to the Board that the total Plan
was up 14.1% on an extremely conservative structure. Mr. Eickhoff also reported
that the Plan is in a good position for growth and the outlook is profitable.
NCNB National Bank - Mr. Scott Givens reported to the Board that the Plan
received a 10.5% return this past year.
Kidder Peabody - Ms. Karen Cole reported to the Board that the over-all per-
formance of the Plan is good and that the Real Estate portion of the Plan gives
stability to the overall performance. However, equity performance might be
enhanced by hiring an additional equity manager with a different investment
philosophy.
2. Approval to pay Eickhoff & Pieper Management Fees
Sgt. Ulmer made a motion to approve the Eickhoff & Pieper management fees. The
motion was seconded by Mr. Walker and the motion passed unanimously.
3. Approval to pay NCNB Management Fees
A motion was made by Sgt. Ulmer to approve payment of the NCNB Management Fees.
The motion was seconded by Dr. Butler and the motion passed unanimously.
4. Approval to pay Carson & Linn -`invoices for Police Pension Appeal.
Mr. Walker made a motion to pay the Carson & Linn invoices and the motion was
seconded by Dr.Butier and the motion passed unanimously.
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Pension Board Meeting
February 21, 1989
5. Approval of December 15, 1988 minutes
Dr. Butler made a motion to approve the minutes from the December 15, 1988
Pension Board meeting. Sgt. Ulmer seconded the motion and the motion passed
unanimously.
• 6. No old business was discussed.
7. New Business
The Board called a special meeting to be held on March 14, 1989 to discuss
the possibility of hiring an additional equity manager to assist with the
investments of the Pension Board.
8. A motion for adjournment was made by Sgt. Ulmer and seconded by Mr. Walker.
The meeting was adjourned at 9:45 a.m.
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Elly F Jo n''on, Secretary
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