HomeMy WebLinkAbout12231992 POPTSEBASiTAN POIJCE OFFICERS'
RETIREMENT TRUST FUND
POST OFFICE BOX 780127 ® SEBASTIAN, FLORIDA 32978
TELEPHONE: CITY HALL (407) 589-5330 ® POLICE DEPARTMENT (407) 589,.5233
FAX (407) 5895570
MINUTES OF THE MEETING OF THE
BOARD OF TRUSTEES OF THE SEBASTIAN POLICE OFFICERS
RETIREMENT TRUST FUND HELD ON
WEDNESDAY, DECEMBER 23, 1992
The meeting was called to order at 10:10 a.m.. by Chairman Gore.
Present were G. Gore, E. Petty, D. Puscher, E. Ewert and L.
Napier.
Motion was made to waive reading Of the minutes for the June and
September meetings by E. Petty and 2nd by E. Ewert. Motion
passed.
Chairman Gore requests authority to make a legal demand a~an
attorney to insure Sebastian is receiving proper allocation. Motion
by E. Petty, seconded ,by E. Ewert. Motion passed.
Schedule meeti'ng fOr 15, 1993 for financial overview,.b¥ our
,financial .adviser.
Motion to adjourn made by E. Petty and seconded by, E. Ewert.
Motion passed. Meeting adjounned at 10:15 a,m,,
"Serving Those Who Have Sen~,d Us."
~~ SEBASiIAN POLICE OFFICERS' RE TiREME~ TR US T FUND
POST OFFICE BOX 780127 · SEBASTIAN, FLORIDA 3:~J78
TELEPHONE: CITY HALL (407) 58g~330 · POLICE DEPARTMENT (407) 589-5233
FAX (407) 589-5570
AGENDA
SEBASTIAN POLICE OFFICERS': RETIREMENT TRUST FUND
DECEMBER :23, 1992
2.
3.
q.
5.
6.
7.
8.
Call to Order
Approval of Minutes
Treasurer's Report
Old Business
New Business
Chairman's Matters
Trustee's Matters
Adjourn
Any person who decides to appeal any decision made by the Sebastian
Police Officers' Retirement Board with respect to any matter considered
at this meeting (or hearing) will need a record of the proceedings and
may need to ensure that a verbatim record of the proceedings is made,
which record includes the testimony and evidence upon which the appeal
is to be heard. {286,0105 F.S.)
"Serving 'll~ose Who Ha~e Ser~d Us."
Key Trust Company of
Florida N.A.
A KeyCorp Subsidiary
Suite 850
111 North Orange Avenue
Orlando, Florida 32801-2337
(407) 423-0154
FAX (407) 423-0996
Kathy Kralee
ViCe President
December 21, 1992
Mr. Larry Napier
Sebastian Police Officers Ret Trust
P.O. Box 780127
Sebastian, FL 32978
Dear Larry:
Please be advised that effective January 1, 1993, Key Trust
Company will withhold 20% of all taxable lump sum
distributions unless requested to transfer directly to
another qualified plan or IRA. This procedure will comply
with the Unemployment Compensation Amendment of 1992 signed
by President Bush on July 3, 1992.
We strongly recommend you consult your legal counsel if you
have not been made aware of these new provisions affecting
withholding on lump sum distributions.
It is also recommended that you inform the participant of
these new laws prior to distributions.
If you have any questions, please feel free to call.
S i~cere ly,
Vice President
KK:db
.. Involved. Innovative. Professional.