11-28-1995 Now
GENERAL EMPLOYEES PENSION BOARD
MEETING
November 28, 1995
CALL TO ORDER
The General Employees. Pension Board meeting was called to order
by Mayor Jack Hayman, in the City Hall Conference Room, Tuesday,
November 28, 1995 at 2:10 p.m.
ROLL CALL
Mayor Jack Hayman Present
City Clerk Susan Wadsworth Present
Rev. Harvey Hardin Present
Janet Morris Present
Tyna Hilton Present
Gerry Proctor Present
Also present was Jack Ascherl, Consulting Agent of Record and
Deborah Sigler, Personnel Administrator.
APPROVAL OF MINUTES
Mrs. Wadsworth moved to approve the minutes of the June 29, 1994
meeting. The motion was seconded by Ms. Morris. CARRIED 4 -0.
(Mr. Proctor and Ms. Hilton not being present during vote)
OLD BUSINESS
The members discussed setting specific meeting dates so the board
secretary can send out notices accordingly. It was agreed to
meet twice a year, the second Tuesday in May and November.
Special meetings may be called if needed. It was also agreed to
hold a meeting with all City employee's to review the pension
plan and answer any questions. This will be coordinated with
Mr. Ascherl's office and the City schedule, and will probably be
in the month of February.
Mr. Ascherl explained a proposed change in the administrative
contract from IPG to FPA, which will be a much better tool
reporting pension activity. He recommended the board vote for
this change, since it is a valuable service for the same cost
already allocated. He explained we will be receiving this new
contract material in a few weeks.
Ms. Morris suggested we hold off on voting until we can review
this material. It was agreed to have another meeting after we
receive the material and vote on whether to make a change at that
time.
Mr. Ascherl reviewed the Pension Plan Analysis Report which was
distributed to the members. He answered questions posed by the
board members.
Mr. Ascherl went over the Investment Results and the 3rd Quarter
Briefly, page by page. He explained the City's investment
philosophy and the results of the past investments. He added
that he is going to look into the board's changes in the
investments, because it doesn't look like they made the changes
in our investment choices.
Mr. Harvey questioned whether we are complying with all current
State laws. Mr. Ascherl explained that our plan is set up to
comply with the current laws.
Ms. Morris asked whether this board has by -laws. Mr. Ascherl
explained there is no law stating that we even have to have this
particular board. The City chose to develope an advisory board
for information purposes. This board can not change the plan,
you just recommend. There could be by -laws if the original board
drew some up.
"rpr v
Mrs. Wadsworth said she would get a copy of the ordinance
developing this board for the secretary. Copies can be
distributed to the current members.
The meeting adjourned 3:10 p.m.
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Minutes submitted by:
Debby Sigler