07/28/1987
Proceedings of the Pension Advisory Committee Meeting of July 28. 1987.
o Present:
Charles Dunn. Chairman
John Nicholson. Member
Michael Stuan. Member
/
H. Michael Laursen. Personnel Director
Deborah Lally. Personnel Department
Tina Wilson. Payroll Services Manager
Miles Lance. Assistant City Attorney
Daniel Deignan, Finance Director
The meeting was called to order nt 9:47 A.M.
Michael Stuart moved to approve the minutes of the meeti n g of July 7. 1987. The mot ion was duty
seconded by John Nicholson and carricd unanimously.
r Michael Stuart moved to accept into membership in the Pension Plan the cmployce listed below:
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{', ",Tina Wilson. Payroll Services
money from the Pension Plan
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:~\'CD: Secretary
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\c ': Chairman
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Date of
Emptoyment
Pension
El i g. D:t~
Dennis Golden, Jr., Main. Worker 1
Parks & Recreation
7-20-87
7-20-87
,The motion was duly seconded by John Nicholson and carried unanimously.
\Vith regard to John 'Velch. no new information has been received. The Committee is still
w~iting to hear from Cary Singletary concerning this matter.
Discussion ensued regarding Larry Dcan's status in the Pension Plan. Mr. Dean has two options
at 'this time. He can 1) leave his vested monies in the Pension Fund and be placed on Social
Security for, his current employment or 2) remove his vested monies from the Pension Fund and
. remain ,in the Pension Plan as of the date he was rehired. Miles Lance, Assistant City Attorney. is
to write to Mr. Dean telling him the options available to him and asking him to aHcnd the next
: Pension Advisory Committee meeting in order to advise the Committee of his decision.
\Vith ,regard to the request of Lenard Dixon. Gas Distribution Pipefiller, Gas Division, for a non-
job-connected disability pension, Mr. Dixon has passed away. Mr. Laursen advised the Committee
, he has spoken with Terry Neenan, Gas Superintendent. who was to submit to the Committee a copy
" ",of Mr. Dixon's death cedficatc, marriage certificate, and a leltcr from Mrs. Dixon requesting a
'widow's pension. These documents have not yet been received.
\VilJiam Hebert's appointment is scheduled for August 5th
Chairman Dunn Slated Frederick \Voodard, Firefighter. muSI submit his letters beforc any
nction can be taken.
Manager, advised the Committee Robert Noonan withdrew his
and, thcrefore, is no longcr eligible to apply for a disability
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Laursen is to write to Mr. Woodard advising him we arc still wailing for the leller which
Dunn spoke to him about several weeks ago.
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f::;:'::: 'I' I',H., Michael La scn
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Proceedings of the Pension Advisory Commhlce Meeting of July 28. 1987.
I,
The Committee considered the request of Vernon
Division. for a nonAjobAconnecled disability pension.
doctors slating he is no longer able to work due
lohn NJcllolson is to contact the doctors and verify
Committee will then vote on this pension.
\Vnshlnglon, Tradesworker II, Public Service
Mr. Washington submitted lellers from two
to n kidney problem and high blood pressure.
the information contained In their lelters. The
Daniel Deignan, Finance Director. submitted to the Committee II copy of an Invcs\ment
,recommendation whIch will go before the Trustees at their next meeting. Due to the current
,economic situation, the financial advisors and Mr. Deignan feel it is necessary to transfer $10
millioll from the stock portfolio and $7 million from the fix.ed-income portfoHo and invest it, in
United' Slates Treasuries.
Michael Stuart moved to accept Mr. Deignan's recommendation. The motion was duly seconded by
, John, Nicholson and carried unanimously.
,. ,The meeting adjourned at 10:25 A.M.
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,The meeting was. reconvened at 3:15 P.M. for
The Committee considered the request of Ella
John ,Nicholson moved to approve the widow's
Stuart' and carried unanimously.
.the purpose of voting on Lenard Dixon's pension.,'
Mae Dixon for a pension as Lenard Dixon's widow.
pension. The motion was duly seconded by Michael
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,The meetingadjoumed, at 3:17 P.M.
Committee
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