Pension Board Meeting

Wednesdays Pension Board meeting went smoothly and quickly.

Some of the unnecessary policies were deleted as recommended by Committee #3.

There was a short discussion about the magazine article written in regards to our fund having only 1 investment manager .

There were 2 letters written by Jay Bowen and his Father Harold Bowen in response to this article.

In my opinion this is underperformers trying to get a piece of the action. They were no where to be found when our fund started to invest in stocks, but now that Bowen has build our fund to nearly 2 billion ALL the want to be's are criticizing the success of our investor who has out performed ALL of them.

The auditors gave a good report and now we will be waiting for the Actuary Report to determine if there will be a 13th check and if so how much. This will be reported at the May Pension Board meeting.

In my opinion this could be speeded up if the Trustees would just require the Actuary Firm to give the report by 30 days after the Auditors, but they won't do that.

Tampa Fire Rescue ( Ret. ) District Chief Fred Urbuteit

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