HomeMy WebLinkAbout30982 - MINUTES - City Commission TRUSTEES PENSION FUND MEETING
FEBRUARY 12, 1970
The meeting was called to order by City Manager Woodward
Hampton.
Those present were as follows:
Trustee Joseph Bebon
Trustee Dean Ryan
Trustee James McMillan
Trustee William Semmel
Mr. John Pfau - Fringe Benefit Consultants
Mr Billie McCutcheon - Travelers Insurance Co
Mr. Woodward Hampton - City Manager
Mr. E. R. Clay - City Clerk
Absent: Trustee Ray Chapman
Mr Pfau & Mr McCutcheon then explained to the Trustees how
the transfer should work regarding the money received from
Provident. They stated that first the employees who had left
prior to July 1, 1969 should be paid off, then the balance of the
money in the two Provident checks should be distributed to the
three funds as follows:
General 65%
Police 9%
Fireman 26%
They then explained that it would be necessary for the Trustees
to appoint a Chairman and a Sec'y-Treas.
Trustee Dean Ryan then made a motion to appoint James McMillan
as Chairman, this was seconded by Trustee Joseph Bebon. Roll Call
was taken and the vote was four to zero.
Trustee Joseph Bebon then made a motion to appoint William Semmel
as Sec'y-Treas, this was seconded by Trustee Dean Ryan. Roll Call
was four to zero.
Trustee Joseph Bebon then made a motion that the Chairman and the
< Sec'y-Treas be appointed as signatories for the bank account, this
was seconded by Trustee Dean Ryan. Roll Call was four to zero.
It was then decided that the two Trustees be signatories till the balance
of the money was received from Provident and disbursed to Travelers,
at this time the bank account will be closed.
Woodward Hampton
O� City Manager
E. R. May
City Clerk
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