01-21-1992
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CITY OF EDGEWATER
POLICE PENSION BOARD MEETING
JANUARY 21, 1992
7:00 P.M.
SQUAD ROOM, POLICE DEPARTMENT
A MEETING OF THE BOARD OF TRUSTEES OF THE CITY OF EDGEWATER
POLICE RETIREMENT BOARD CALLED TO ORDOR BY CHAIRWOMAN, RUTH
GARVEY, AT 7:03 P.M., IN THE SQUAD ROOM OF THE EDGEWATER
POLICE DEPARTMENT.
ROLL CALL:
MEMBERS PRESENT: CHAIRWOMAN RUTH GARVEY, SERGEANT LARRY
WESTFALL, RUTH O'ROURKE AND KENNETH SMITH. WILLIAM BENNETT
WAS EXCUSED. ALSO PRESENT WAS LINDA KIRKLAND, PENSION BOARD
RECORDER.
APPROVAL OF MINUTES:
A MOTION WAS MADE BY KENNETH SMITH AND SECONDED BY SERGEANT LARRY
WESTFALL TO APPROVE THE MINUTES OF SEPTEMBER 16, 1991 AS
PRESENTED. MOTION CARRIED 3-0.
OLD BUSINESS:
SERGEANT LARRY WESTFALL STARTED BY ADDRESSING THE DECISION,
IN REFERENCE TO POLICE OFFICER'S HIRING THEIR OWN ATTORNEY
FOR THE POLICE PENSION BOARD. A MOTION WAS MADE TO HIRE
ROBERT SUGARMAN OF SUGARMAN & SUSSKIND, P.A. BY SERGEANT
LARRY WESTFALL. CHAIRWOMAN RUTH GARVEY SECONDED THE MOTION.
MOTION CARRIED 3-1.
SERGEANT LARRY WESTFALL WENT OVER THE YEARLY ACCOUNT OF WHAT
THE PLAN IS DOING AS DEPICTED IN THE LETTERS THAT WERE
ATTACHED IN THE PACKAGE SENT TO THE BOARD OF TRUSTEES (A-6).
NEW BUSINESS:
CHAIRWOMAN RUTH GARVEY GAVE HER WRITTEN RESIGNATION TO THE
BOARD, STATING SHE THOUGHT SERGEANT LARRY WESTFALL WOULD
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MAKE A BETTER CHAIRMAN SINCE HE WAS MUCH MORE UP TO DATE
WITH THE PENSION BOARD. A MOTION WAS MADE BY KENNETH SMITH
TO ACCEPT THE RESIGNATION AND MAKE SERGEANT LARRY WESTFALL
CHAIRMAN. RUTH O'ROURKE SECONDED THE MOTION. MOTION
CARRIED 3-1.
A MOTION WAS MADE TO ELECT RUTH GARVEY FOR THE POSITION OF
VICE-CHAIRWOMAN BY KENNETH SMITH. SERGEANT LARRY WESTFALL
SECONDED THE MOTION. MOTION CARRIED 3-1.
SERGEANT LARRY WESTFALL WENT OVER THE DEFINITION OF THE
AVERAGE COMPENSATION AS SET FORTH IN THE LETTERS THAT WERE
ATTACHED IN THE PACKAGE SENT TO BOARD OF TRUSTEE (A-I). THE
AVERAGE COMPENSATION IS THE THREE HIGHEST YEARS OF THE LAST
FIVE YEARS.
SERGEANT LARRY WESTFALL ALSO WENT OVER THE DEATH BENEFITS,
EXTENSIVELY.
SERGEANT LARRY WESTFALL DISCUSSED THE FIDUCIARY FINANCIAL
RESPONSIBILITY OF THE BOARD AS PERTAINS TO THE DEPARTMENT OF
ADMINISTRATION, AS DEPICTED IN THE ATTACHED LETTERS (A-5)
SENT TO THE BOARD OF TRUSTEES. ALSO BROUGHT UP WAS THE
MANDATORY PAPERWORK FOR THE DEPARTMENT OF INSURANCE.
MISCELLANEOUS:
DURING THE NEXT MEETING SERGEANT LARRY WESTFALL WOULD LIKE
TO BRING UP THE DISCUSSION ON THE CHANGE IN THE ANNUITY
PURCHASE RATE AS DEPICTED IN THE ATTACHED LETTERS (A-2, A-3,
A-4) WHICH HAVE BEEN SENT TO THE BOARD OF TRUSTEES. JACK
ASCHERL WILL BE ASKED TO JOIN US SO THAT HE CAN HELP EXPLAIN
THESE LETTERS.
SERGEANT LARRY WESTFALL ALSO WOULD LIKE TO HAVE KAREN
RICKELMAN, JACK ASCHERL AND ROBERT SUGARMAN AT THE MEETING
IF IT CAN BE ARRANGED.
ALSO TO BE DISCUSSED AT THE NEXT MEETING, HOW MONEY IS
BROUGHT INTO THE PENSION FUND AND HOW IT HAS BEEN EXPENDED.
KENNETH SMITH HAD TO LEAVE THE MEETING AT 9:00 P.M. TO GO
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BACK TO WORK.
ADJOURNMENT:
THERE BEING NO FURTHER QUESTIONS FROM THE BOARD, SERGEANT
LARRY WESTFALL MADE A MOTION TO ADJOURN, WHICH WAS SECONDED
BY RUTH GARVEY. MOTION CARRIED 3-0.
MINUTES RESPECTIVELY SUBMITTED BY,
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LINDA KIRKLAND
PENSION BOARD RECORDER
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