01/16/1990 TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
January 16, 1990
The City Commission, meeting as the Board of Trustees of the Employees Pension Fund, met in regular session at City Hall, Monday, January 16, 1990 at 9:07 A.M., with the following members
present:
Rita Garvey Chairperson
Lee Regulski Trustee
Don Winner Trustee
William Nunamaker Trustee (Arr. 9:08 a.m.)
Richard Fitzgerald Trustee
Also Present were:
Ron H. Rabun City Manager
Milton A. Galbraith, Jr. City Attorney
Cynthia E. Goudeau City Clerk
ITEM #2 - Minutes:
Trustee Fitzgerald moved to approve the minutes of the December 18, 1989, meeting. The motion was duly seconded and carried unanimously.
ITEM #3 - Request for Acceptance into Membership:
The City Manager presented the recommendation of the Pension Advisory Committee to approve membership for the employee(s) listed below:
a) Gregory Stewart
b) Charles McCarty
c) Betty Kullen
d) Diana Henderson
e) Jennie Keegan
f) Raymond Wyland
g) Joseph DeSantis
Louis Kwall, Attorney for Joseph DeSantis, questioned how the buy back price for Mr. DeSantis was established, in particular the interest rate applied.
H. M. Laursen, Personnel Director, indicated the Finance Director had computed this based on the amount of funds withdrawn by Mr. DeSantis plus the interest amount of 12% as was used
in the Kettel case and arbitration awards. He stated this is scheduled for discussion by the Pension Advisory Committee at its meeting of 1/17/90.
A question was also raised regarding whether or not there would be a time limit on the buy back. Mr. Laursen indicated this too would be part of the Pension Advisory Committee discussion.
Trustee Winner moved to accept the recommendation of the Pension Advisory Committee. The motion was duly seconded and carried unanimously.
ITEM #4 - Request for Denial of Membership:
The City Manager presented the recommendation of the Pension Advisory Committee that the employee(s) listed below be denied membership in the Employees' Pension Plan:
a) Leroy Sams
b) James Grigley
Trustee Regulski moved to accept the recommendation of the Pension Advisory Committee. The motion was duly seconded and carried unanimously.
ITEM #5 - Request for Pension:
The City Manager presented the recommendation of the Pension Advisory Committee that the employee(s) listed below be granted a regular pension under Section(s) 26.34 and/or 26.37 of
the Employees' Pension Plan.
a) Betty Ward
b) Nicholas W. Lewis
c) Don Lambert
Trustee Regulski moved to accept the recommendation of the Pension Advisory Committee. The motion was duly seconded and carried unanimously.
ITEM #6 - Other Business:
None.
ITEM # 7 - Adjournment:
The meeting adjourned at 9:11 A.M.