HomeMy WebLinkAboutMinutes 2000MINUTES OF THE REGULAR PENSIONT BOARD
MEETING 9-19-00
Members Present: Dillon, Brumbach, Ready, Whalen. Morris.
Meeting tailed to order.
10:UUam
Minutes: accepted
Old Business: None
New Applicants: Approved
Kimberly Kull
Anthony Yee
James Regan
Peter Casey
John Roche
Election Report: An election for Trustee (currently held by Brumbach) was conducted, and the
only candidate was Brumbach.
Investment Subcommittee:
Reported that they will meet in October.
Pensions: ~tune.
Deaths: W. Lee and C. Galloway.
New Business:
A short discussion about retaining an attorney for the Board.
Meeting adjourned.
MINUTES OF THE REGULAR PENSION BOARD
MEETING 4-13-00
Members Present: Dillon, Brumbach, Stafford, Read.
, Wilkinson, Morris.
Meeting called to order.
10:00am
Minutes: accepted
Old Business: None
New Applicants: Approved
Charles Bednarz
Craig Brannan
Thomas Howard
Timothy O'Gara
Martin Rafacz
Brain Scott
Election Report: An election for Trustee (currently held by Brumbach) will be conducted on 4-
17-00.
Investment Subcommittee:
Stafford speaks to the difficulty of having our funds held by two different institutions, Smith
Barney and Bank One, further he talks about the extreme difficulty he has had communicating.
with Bank One.
Stafford moves that the Board approve moving all custody of our funds to Smith Barney.
Seconded by Wilkinson.
Approved.
Stafford reviewed the actuarial report. It was reported that the funding was at 6I%, down I%
from the prior year and probably a result of increased benefits mandated by changes in the
pension law. The tax levy was up 6. I %; over the prior year to meet required funding. A Mistake
was found on Table J of the report and will be corrected.
Motion to accept the accuracy of the report given cvv tvtion ol" ('able I
Approved
Stafford states that we will be using a broker to craluatc our lnsunuxv akatrlicts and ad-. i= us as
to the best way to lock in earnings.
Pensions: Robert Brown (3-16-99), Jerome Czarnavvsli (11-16-99).
Deaths: Robert Schumer.
Meeting adjourned.