03-05-1991
...
....,
CITY OF EDGEWATER
POLICE PENSION BOARD REGULAR MEETING
MARCH 5, 1991
7:00 P.M.
SQUAD ROOM, POLICE DEPARTMENT
A meeting of the Board of Trustees of the City of Edgewater
Police Retirement Board was called to order by Chairwoman, Ruth
Garvey, at 7:00 p.m. in the Squad Room of the Edgewater Police
Department.
ROLL CALL:
Members
f<enneth
pre~-;ent
Pengov,
present were Sgt. Larry
Smith, Gary Butt and
was John Borzner (former
Secr-etary.
Westfall, Sgt. William Bennett,
Chairwoman Ruth Garvey. Also
board member) and Sondra Meager-
APPROVAL OF MINUTES:
A motion was made by Kenneth Smith and seconded by Gary Butt to
approve the mlnutes of February 19, 1991 as presented. Motion
CARRIED 5-0.
OLD BUSINESS:
Chairwoman, Ruth Garvey reported that on the Board's
recommendation, she has invited Teresa Littlefield of Portfolio
Management Services, Inc. to attend the next meeting. Ms.
Littlefield will plan to come to the meeting of March 19, 1991 at
1:00 p.m. Chail-woman, Ruth Garvey, felt 1"1s. Littleflelcl is vef-y
knowledgeable and it will be to the Boards advantage to have her
attend a meeting.
The Board
1:00 p.m.
agreed to have the next meeting on March 19,
so as to accompany Ms. Littlefield's schedule.
1991 at
Upon Sgt. Larry Westfall's request, 3 copy of the penSlon plan
contract was provided to the Board. The death beneflt (pg. 38 of
the contract) section of the plan was discussed in length. Some
of the Board's concerns were: does a named beneficiary receive a
lump sum of money; what is received and by whom (spouse or
beneficiary); is the amount paid the total of the employees
contribution?
Also, the Board would like clarified,
married for one year before collecting.
section
(a)( 1 )
pg. 38-
By the next Board meeting (March 19, 1991) the Board agreed that
they will have gone through the pension contract and have
questions prepared to ask lack Ascherl.
Sgt. Larry Westfall stated the Board may request use of the
acting City Attorney to answer questions regarding the pension
plan. Sgt. Larry Westfall, again, expressed his concern to have
the City contribute a specified percentage into the plan,
stating, if this is going to work it must be taken care of now.
Mr. John Borzner explained to the Board their responsibility as a
Board to all the pension members. He also discussed the City's
commitment to contribute to the plan.
The possibility of a COLA and IRS plan was also discussed by the
Board.
NEW BUSINESS:
Mr. John Borzner presented a statement of his goals regarding his
time as a Board member from 1988-1990. He gave a brief
descrlption of his background and presented a folder of pertinent
"W'
.""",
page --2--
Police Pension Board Regular Meeting
Mal-ch 5~ 1991
information, a copy of which
member at the next meeting.
wi 11
be provided to each Board
MISCELLANEOUS:
Nothing to report at this time.
ADJOURNMENT:
There being no additional business to come before the Board~ a
motion was made and accepted to adjourn. The meeting adjourned
at 8:47 p.m.
Minutes respectfully submitted by:
Sondra Meager-Pengov, Secretary
Police Pension Board
/smp