11/02/1987
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TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
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November 2, 1987
The City
Pension Fund,
at 9:24 a.m.,
Commission, meeting as the Board of Trustees of the Employees
met in regular session at the City Hall, Monday, November 2, 1987,
with the following members present:
Rita Garvey
James Berfield
Lee Regulski
Don Winner
William Nunamaker
Mayor/Commissioner
Vice-Mayor/Commissioner
Commissioner
Commissioner
Commissioner
Also Present were:
Joseph R. McFate, II
Milton A. Galbraith, Jr.
Cynthia Goudeau
Interim City Manager
City Attorney
City Clerk
ITEM 02 - Minutes - Commissioner Winner moved to approve the minutes of the
October 12, 1987, meeting. Motion was duly seconded and carried unanimously.
ITEM 03 - Recommendation of the Pension Advisory Committee.
CD
a. Request for Acceptance into Membership
The Interim City Manager presented the recommendation of the Advisory
Committee to approve membership for 6 (six) employees listed below:
Name
Classification
Department
Hilliard Sanders
Elaine Muldowney
Thomas Glenn
Jeffrey Rosenbaum
Dale Brown
Varhese Jolly
Maintenance Worker II
Clerk Typist I
Container Maint. Wrkr
Tradesworker I
Maint Worker I
WWTP Operator C
Public Works/ Pub Ser
Plan & Urban Dev
Util/Sanitation
Cent Ser/Bldg & Maint
Traffic Engineering
Pub Wks/WPC
Commissioner Regulski moved to accept the recommendation of the Advisory
Committee. MOtion was duly seconded and carried unanimously.
b. Denial or Membership.
The Interim City Manager presented the recommendation
Committee to deny membership based on physician's findings
listed below:
of the Advisory
for the employee
Bame
Classification
Department
James Betts, Jr.
Gas Dist Pipefitter Helper
Utilities/Gas
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Commissioner Winner moved to accept the recommendation of the Advisory
Book 2
115.
11/2/87
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Committee to deny membership.
unanimously.
Motion was duly seconded and carried
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ITEM fJ4
Other Business.
1 )
Request by Lois Maroon for reinstatement to Pension Plan.
from 10/12/81.
Continued
Discussion ensued regarding the issues involved in this request, in
particular, the age 45 limitation and the cost to the Pension Plan should Ms.
Maroon be reinstated. It was requested that calculations be made to determine
to what amount both the employee's and the City's contributions would have
appreciated.
As Ms. Maroon's attorney was not present, it was decided to continue this
item.
A question was raised regarding what impact the decline of the stock market
had on the Pension Fund. It was stated the Fund had experienced an $8,000,000
paper loss on "Black Monday". It was also noted the Fund had recently cashed
in some of its stock holdings and therefore did not suffer as great a loss as
it might have.
2) Pension Rewrite
The status of the Pension Rewrite was discussed. It was indicated a
meeting between the City Commission and Rewrite Committee was needed as there
are still some questions that need to be addressed.
o
The City Clerk reported that if the Commission wants to place the question
on the County's March '88 ballot, they need to so direct. Also, the County
has indicated the last day they can accept wording for those ballot questions
is 1/19/68.
Consensus was to set a meeting date Thursday night for as soon as possible
in November.
3) Pension request - Chris Kingsley
At its last meeting, the Trustees denied this request and sent it back
to the Pension Advisory Committee to work out a way of keeping this employee
in a productive job.
The Pension Advisory Committee responded saying its original decision
remained in effect.
It was recommended the Trustees meet with the Pension Advisory Committee
regarding this.
It was the concensus of the Trustees to schedule this for
the 11/16/87 meeting.
ITEM /J 5
Meeting adjourned at 10:01 a.m.
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ROOK 2
116.
11/2/87
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AGElIDA
Board of Trustees or the Emp1oyees' Pension Fund
November 2, 19B7
9:00 AM
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1. Call to order.
9:24 a.m.
1 .
2. Approval of Minutes of
October 12. 19B7
3. Recommendation of the
Pension Advisory Committee
A. Request for acceptance
into membership:
1) Hilliard Sanders
2) Elaine Muldowney
3) Thomas Glenn
4) Jeffrey Rosenbaum
5) Dale Brown
6) Varhese Jolly
B. Request for denial of membership:
1) James Betts. Jr.
4. Other Business.
2. Approved as submitted
3.
A. Accepted 6 members
B.
Denied 1 member
4.
1) Request by Lois Maroon for reinstatement
to Pension Plan. Continued from 10/12/87.
1)
Continued to 11/16/87
2) Discussed Pension Rewrite,
will set special meeting.
3) Scheduled discussion of
Chris Kingsley disability
for 11/16/87.
5. Adjournment.
5.
10:01 a.m.
Book 2
114.
11/2/87