HomeMy WebLinkAbout11151989 POPT4
NINUTES 47 THE MEETING OF THE
BOARD OF TRUSTEES OF THE SEBASTIAN
POLICE OFFICER'S RETII' TRUST
FUND HELD WMgESDAY, NOVEMBER 157,
1989 AT THE CITY MANAGER' s
Q- ERENCE ROK, CITY HALL
The meeting was called to order by Chairman Reynolds at 10:02
A.M. Present were Charles Reynolds, Gene Ewert, David Puscher
and Carol Carswell. Greg Gore telephoned to say he was running
late.
The first order of business was the approval of the minutes. A
typographical error was pointed out. Motion made by Ewert, seconded
by Puscher to adopt minutes as corrected. Motion carried.
OLD BUSINESS
Chairman Reynolds submitted draft of memo to be submitted to Council
concerning the setting aside of Ordinance 0-89-15 and adopting a
Chapter Plan. At this time (10:10) Greg Gore arrived. After discussion
everyone was in agreement that the memo was fine as written. It
should be submitted to Council and placed on the November 22 Agenda.
Beneficiary forms were presented by Gore. It was decided, that
addresses sof beneficiaries. should. be on forms. Puscher made motion
to approve beneficiary forms, seconded by Carswell. Motion carried.
Chairman Reynolds has received some additional info from financial
consultants. He will make copies of all proposals and give to each
Trustee.
Carswell stated that she has sent letters to both local commerical
banks concerning custodial care for the Fund : s money.
Chairman Reynolds had a conversation with Marvin Clayton concerning
insurance to cover in case of disability. He said Worker's
Compensation will be used in case of injury on job. Not necessary
to get insurance since actuarial study took disability into account.
None
TRUSTEES MATTERS
Carswell stated she has applied for Federal ID number for Fund.
If the City adopts a Chapter Plan it would still have to be
submitted to the IRS for approval but that's just a matter of form
to get the IRS letter of approval for tax deferral.
Chairman Reynolds informed the Trustees that in March 1990 there
will be a Trustees'Training Seminar in Tallahassee and, funds
permitting, we should all try to go.
The -next meting will be on Tuesday, December 5 at 10 A.M.
Meeting adjourned at 10:45.
Respectfully yours,
Carol Carswell
Secretary/Treasurer
rka
A
SDA
SEBASTIAN POLICE OFFICERS RETIIU!v= TRUST FUND
NOVEMBER 15, 1989
1. Call to Order
2. Approval of Minutes
3. Old Business
a. Presentation to Council're: changing Plan
4. New Business
5. Trustee Matters
6. Adjourn