12-05-1989
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Olity of iEogeluuter
POSTOFFICE BOX 100
EDGEWATER, FLORIDA32032
CITY OF EDGEWATER
POLICE PENSION BOARD MEETING
DECEMnER 5, 1989
10:00 A..M.
SQUAD ROOM, POLICE DEPARTMENT
The meeting of the Board of Trustees of the City of Edgewater
Po 1 ice Ret i rement BOdnJ was ca 11 !:?d to onJf?r- by Cha i rwoman Nancy
~)winey at 10:13 a.m. in the Squad 110010 of the Edg!?water POlice
Department.
RQbb__~ALld_
f'1embpr-s pres",'nt were Chair-woman Nancy Swiney, Diana Floyd, Leo
Booth, and John Borzner. Gary Butt was absent. Also present
were Jack Ascherl and Sondra Meager-Pengov, Secretary.
APEROYOL__" Qf. _tHJ~UT"E.;Q_;'
A motion was made by Leo
accep t thE~ 10 1 nu tes as
CARRIED i+-O.
Booth and
p I-esented
seconded by Diana Floyd to
of October 25, 1990. Motion
QL",p_J3.l1SlN~RQ ~
Jack Ascherl discussed the letter dated, October
to Ms. Ronda M. Gaston of Principal Mutual
Company regard i ng the proposE.'d ehanqe to I-ead:
26, 1989, sent
Life Instll-anc:p
Benefit Formula: 2% of Average Compensation multiplied
by Benefit Accrual Service. Compensation to be in
aecor-dance ~Jith "415" which r"eflects total pay received.
A 1 so fll€C?n t i oned
Estimatc?d Co<:;ts
was the r-equ i rement
for the City.
for-
a change
in Display of
Also discussed, Mr. Ascherl said he was looking for someone to
come in and do an analysis of the investment, etc. The
individual Mr. Ascherl has ill mind is Mr. Scott Outlaw.
Nf,:t-t lUlliI. NJ;Ji$-.!_
~1r. Ascher I rev iewed the IPG Gener-a I Account from the 3,-d Quar- ter-
1989 Investment Newsletter as well as the figures presented In
the Principal Financial Gr-oup - Ppnsion Plan Analy"sis.
t1 I~C~hh~N~r1U~1_
Nothing repurted at this time.
ADJ9UR~Ij!';:NT;
Ther"p be i ng no fur- ther bus i ness to come before
Booth made a motion to adjourn, seconded by John
meeting adjourned at 10:38 a.m.
the Boal- d ,
B()l- z ner .
Leo
The"
Minutes respectfully submitted by:
Sandra Meager-Pengov, Secretary
Police Pension Board
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