01-31-1989
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POST OFFICE BOX 100
EDGEWATER, FLORIDA 32032
POLICE PENSION BOARD
REGULAR MEETING
TUESDAY, JANUARY 31, 1989
SQUAD ROOM, POLICE DEPARTMENT
A regular meeting of the Police Pension Board was called to order at
3:10 P.M. by member Nancy Swiney.
ROLL CALL:
Members present were Diana Floyd, Nancy Swiney, Leo Booth and John Borzner.
Also present were Scott Schumaker and Bert Hunt of New York Life, Larry
Westfall and Christi Fish, Secretary.
OLD BUSINESS:
Selection of a fifth Board Member was discussed. A motion was made by
Diana Floyd to postpone selection to a future date while prospects for
the fifth member are contacted and a special meeting be called to make
that selection. Motion seconded by Leo Booth; carried 4-0.
There was a brief discussion of the correspondence received by the board.
Secretary Fish advised that there is a file of all correspondence received
by her and it is open to review.
There was confusion on the part of the Board Members as to the total
assests of the pension fund. A motion was made by Nancy Swiney to ask
Mr. Jack Ascherl to attend the next meeting of the Board and provide a
detailed account of the pensions assests, earnings and distribution.
Motion seconded by John Borzner; carried 4-0.
NEW BUSINESS:
A presentation was made by Scott Schumaker and Bert Hunt of New York Life
Insurance Company. Mr. Schumaker discussed the responsibilities of the
Board of Trustees and what services New York Life can provide to the
pension plan.
MISCELLANEOUS:
It was made known that the independent audit, required by the state, must
be completed by October 1, 1989.
Nancy Swiney requestedthecSecretary.to inquire of the city if Board Members
are covered by Errors and Omissions Insurance.
There being no further business before the Board, Diane Floyd made a
motion to adjourn; seconded by John Borzner. The meeting adjourned at
3:55 P.M.
Minutes respectfully submitted by:
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Christi Fish