11-17-1988
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POST OFFICE BOX 100
EDGEWATER, FLORIDA 32032
POLICE PENSION BOARD
REGULAR MEETING
THURSDAY, NOVEMBER 17, 1988
SQUAD ROOM, POLICE DEPARTMENT
Chairman Larry Jarkovsky called to order a regular meeting of the Police
Pension Board on Thursday, November 17, 1988, at 3:07 P.M., in the Squad
Room in the Police Department.
ROLL CALL:
Members present were Larry Jarkovsky, John Borzner and James Inman.
Also present was Christi Fish, Secretary.
OLD BUSINESS:
Chairman Jarkovsky noted that all terms were ending within the month and
the Screening Committee was accepting applications from those interested
in becomming a member. Also noted was the fact that the police department
had already chosen, by popular vote, two members to replace the two
vacancies left by Larry Jarkovsky and William Lenz, who did not seek
re-election. The two new members are Diana Floyd and Leo Booth.
Chairman Jarkovsky told the members it was brought to his attention by
Karen Rickelman that the Police Pension Board was late with its quarterly
meeting and by state guidelines it could lose state funding. He explained
to the members that moving into new police quarters had occupied the time
of the last quarterly meeting and he had forgotten to call for a meeting.
Mr. Jarkovsky noted to the members that there is $340,092.72 currently in
the pension plan. He said that employee contributions for the year was
$7,302.23, state contribution was $31,254.45, interest earned was $31,213.53.
Mr. Jarkovsky also stated that there is one retired officer drawing from
the pension $3,305.40 yearly and that $2,286.78 was paid to Jack Ascherl
for actuarials.
NEW BUSINESS:
Mr. Jarkovsky read correspondence from New York Life Insurance Company.
New York Life's representative requested to make a presentation to the
Board. Mr. Jarkovsky made a motion to let New York Life give a presenta-
tion to the Board; seconded by Mr. Inman. Motion carried 3-0.
MISCELLANEOUS:
Mr. Jarkovsky said that as of 1989 the state will require an independent
study of the Pension Plan to go with the yearly report.
There being no further business before the Board, Mr. Inman made a motion
to adjourn; seconded by Mr. Jarkovsky. The meeting adjourned at 3:35 P.M.
Minutes respectfully submitted by:
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Christi Fish