1992.02.25_BTRB_Minutes_Regular1
Town of Highland
Beach
Mayor:
Joseph A. Boulay
Vice Mayor:
Bill Paul
7
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3614 SOUTH OCEAN BOULEVARD • HIGHLAND BEACH, FLORIDA 33487
Commissioners:
Arthur G. Eypel
i
�1�*•' ••'•i`�
Arlin G. Voress
John F.Rand
407-278-4548
palm Beach Count Florida
Y,
FAX 407-265-3582
Town Manager:
Mary Ann Mariano
February 18, 1992
TRUSTEES OF THE RETIREMENT BOARD
OF THE TOWN OF HIGHLAND BEACH
A Regular Meeting of the Board of Trustees of the Retirement Board
of the Town of Highland Beach has been called for Tuesday,
February 25, 1992 at 1:15 P.M. in the Commission Chambers at Town
Hall.
A G E N D A
• 1. MINUTES - OCTOBER 29, 1991
2. REVIEW ICMA QUARTERLY STATEMENT
3. SCHEDULE NEXT MEETING
NNE M. KOWALS
TOWN CLERK
cc: Mayor Boulay, Chairman
Vice Mayor Paul
Ethel Lenhardt
Town Manager Mariano
Finance Department
Officer Gure
Commissioner Eypel
Posted: 02/18/92
AMK
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"Tree City U. S.A."
TOWN OF HIGHLAND BEACH, FLORIDA
RETIREMENT BOARD
REGULAR MEETING
Tuesday. February 25. 1992 1:15 p.m.
Chairman/Mayor Joseph A. Boulay called the Regular Meeting of the
Board of Trustees of the Retirement Board, Town of Highland Beach,
Florida, to order at 1:15 p.m. in the Commission Chambers at Town
Hall. Others present were Vice Mayor Bill Paul, Commissioner
Arthur Eypel, Police Officer Stephen Gure, and Employee Repre-
sentative Ethel Lenhardt.
Also in attendance were Finance Director Michael Seaman, Town
Clerk Anne M. Kowals, and members of the general public. Town
Manager Mary Ann Mariano was absent.
Members accepted the Agenda as submitted.
The October 29, 1991 Minutes of the Regular Meeting of the Board
of Trustees of the Retirement Board were approved as written.
Finance Director Michael Seaman advised the Members the ICMA
Retirement Corporation informed the Town fractions are not allowed
therefore the amended vesting schedule of our Retirement Plan, as
adopted on October 29, 1991, was entered into their records as
follows: after 3 years of service, 33% -- after 4 years of
service, 66% -- after 5 years of service, 100%.
The Finance Director proceeded to explain the ICMA Quarterly
Statements for the 457 Deferred Compensation Plan and the 401
Qualified Pension Plan ending 12/31/91 (copies of which are
attached to and made a part of these minutes) distributed to
Members in advance of this meeting. Mr. Seaman noted the annual
returns for 1991 were as follows:
Growth Stock . . . . . . . . . . 51.9 %
Index Fund . . . . . . . . . . . 29.4%
Asset Allocation . . . . . . . . 25.2%
Bond Fund . . . . . . . . . . . 15.3 %
Cash Management . . . . . . . . 8.80%
Guaranteed Plus Fund . . . . . . 8.13%
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Board of Trustees of the Retirement Board
February 25, 1992
Page 2 of 2
The minimum rate for the Guaranteed Plus Fund from 1/1/92 through
6/30/92 is 7.5%. The actual returns for January for said fund for
the 457 Plan was 8.03% while the 401 Plan was 8.02%.
The next meeting of the Trustees of the Retirement Board will be
held on June 30, 1992, at 1:15 p.m.
Upon proper Motion and Second, Chairman/Mayor Boulay adjourned the
Meeting of the Trustees of the Retirement Board at 1:25 p.m.
APPROVED:"
h A. Boulay; C
hairman/Mayor
Bi r Pafil, Vi
ei, Icgrwis sAoner
'Stephen �V . Gure, Police Officer
ffficer
Ethel Lenhardt, Employee Rep.
I•
ICMA RETIREMENT CORPORATION
401 QUALIFIED PENSION PLAN
STATEMENT FOR THE QUARTER
ENDING DECEMBER 31, 1991
THE ASSETS REFLECTED IN THIS ACCOUNT
ARE HELD IN THE ICMA RETIREMENT TRUST
TOTALS FOR
ACCOUNT NUMBER: 8777
EMPLOYER: TOWN
OF HIGHLAND BEACH
RETIREM
SUMMARY OF ACTIVITY FOR 4TH QUARTER
ASSET
CASH
GROWTH
ALLOCATION
BOND
MANAGEMENT
STOCK
TOTAL
FUND
FUND
FUND
FUND
cs)
cs)
cs)
cs)
cs�
BALANCE ON
10/01/91 266,408.72
EMPLOYER 170,672.83
EMPLOYEE 81,960.67
ROLLOVER/ 13,775.22
PORTABLE
CONTRIBUTIONS 15.377.55
EMPLOYER 10,984.04
EMPLOYEE 4,393.51
GIC REINVEST 0.00 /
DISBURSEMENTS 735.23�/
EMPLOYER 390.08-
EMPLOYEE 345.15-
EARNINGS 7,030.45
MAINT FEE 6.25-V
BALANCE ON
12/31/91 288,075.24--
EMPLOYER 184.936.59
EMPLOYEE 89,073.97
ROLLOVER/ 14,064.68
PORTABLE
ICMA
RETIREMENT
CORPORATION
Suite 600 (202) 962-46W
777 North Capital Street, NE Toll Free (800) 669-7400
Washington, DC 20002.4240
TOWN OF HIGHLAND BEACH RETIREM
3614 SOUTH OCEAN BLVD
HIGHLAND BEACH FL 33487
GUARANTEED
GUARANTEED PLUS
FUND FUND
cs� cs)
416.34
581.98
286.90
11,227.57
206,691.27
47,204.66
0.00
0.00
0.00
1,018.49
133,966.47
35,687.87
416.34
581.98
286.90
10,209.08
58,949.58
11,516.79
0.00
0.00
0.00
0.00
13,775.22
0.00
59.35
64.66
72.65
1,341.22
0.00
13,840.67
0.00
0.00
0.00
458.03
0.00
10,526.01
58.35
64.66
72.65
883.19
0.00
3,314.66
0.00
0.00
0.00
0.00
1,233.33-
1,233.33
0.00
0.00
0.00
211.02-
479.69-
44.52-
0.00
0.00
0.00
0.00
390.08-
0.00
0.00
0.00
0.00
211.02-
89.61-
44.52-
32.34
33.12
9.92
1,740.52
4,121.29
1,093.26
0.00
0.00
0.00
1.78-
0.00
4.47-
507.03
679.76
369.47
14,096.51
209,099.54
63,322.93
0.00
0.00
0.00
1,668.75
135,296.33
47,971.51
507.03
679.76
369.47
12,427.76
59,738.53
15,351.42
0.00
0.00
0.00
0.00
14,064.68
0.00
*** PLEASE NOTIFY RC WITHIN 90 DAYS OF ANY QUESTIONS REGARDING YOUR ACCOUNT ***
*** SEE RC HIGHLIGHTS FOR IMPORTANT NEWS ON MATURING FUNDS ***
TOWN OF HIGHLAND
BEACH RETIREM
8777
GUARANTEED FUND AS OF DECEMBER 31, 1991
BALANCE
ANNUAL BALANCE
ANNUAL
BALANCE
ANNUAL
BALANCE
ANNUAL
($)
RETURN ($)
RETURN
($)
RETURN
($)
RETURN
92,355.43 AT
9.35% 3,031.94
AT 7.45%
5,215.82
AT 7.20%
9,556.24 AT
8.11%
3,028.12 AT
8.05% 6,313.96
AT 8.70%
23,745.57
AT 8.60%
9,804.18 AT
8.00%
11,225.86 AT
7.65% 11,312.16
AT 7.61%
11,196.94
AT 8.15%
10,720.99 AT
9.25%
12,592.33 AT
8.15%
YEAR END SUMMARY
ASSET
CASH
GROWTH
GUARANTEED
ALLOCATION
BOND
MANAGEMENT
STOCK
GUARANTEED
PLUS
TOTAL FUND
FUND
FUND
FUND
FUND
FUND
($). ($)
($)
($)
($)
($)
($)
BALANCE ON
O1/01/91
219,034.88
230.61
372.67
87.15
6,171.72
212,172.73
0.00
CONTRIBUTIONS
EMPLOYER
39,191.80
0.00
0.00
0.00
1,417.93
0.00
37,773.87
EMPLOYEE
15,676.29
202.51
233.00
265.65
2,913.66
0.00
12,061.47
GIC REINVEST
0.00
0.00
0.00
0.00
0.00
11,856.82-
11,856.92
ADJUSTMENTS
835.41-
0.00
0.00
0.00
5.64
562.99-
278.06-
DISBURSEMENTS
7,029.93-
0.00
0.00
0.00
304.76-
6,399.45-
325.72-
EARNINGS
23,075.11
77.40
77.68
20.23
3,939.73
16,664.80
29295.27
MAINT FEE
1,037.50-
3.49-
3.59-
3.56-
47.41-
918.73-
60.72-
BALANCE ON
12/31/91
288,075.24
507.03
679.76
369.47
14,096.51
209,099.54
63,322.93
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•
Please verify the personal account information printed on the front of this statement. If any information is incorrect or has changed, please
type or print the correct information below. Be sure to sign and date the form. Tear at the perforation and mail to: The /CMA Retirement
Corporation, Dept. J., 777 North Capitol Street, NE, Suite 600, Washington, D.C., 20002-4240
Last Name First Name Middle
Address
City
Apartment or Unit Number
State Zip
❑❑ ❑❑ ❑❑ ❑❑❑ —❑❑— ❑❑❑❑
Date of Birth: Month Day Year Social Security Number RC Account Number
Signature: Date:
Guaranteed Fund as of 12/31/91 *
BALANCE
ANNUAL
BALANCE
ANNUAL
BALANCE
ANNUAL
BALANCE
ANNUAL
($)
RETURN
($)
RETURN
($)
RETURN
($)
RETURN
4,745.60
11.75%
2,620.27
11.50%
4,513.24
10.50%
2,595.43
10.00=
846.10
7.25%
2,002.72
7.30%
2,789.15
6.80%
3,994.01
7.602:
6,589.71
8.10%
10,232.93
8.10%
8,977.79
7.20%
5,575.87
8.113-
1,715.72
8.05%
6,123.09
8.70%
8,704.63
8.60%
5,564.25
8.005-
8,713.35
7.65%
11,247.59
7.61%
8,800.45
8.15%
7,131.99
8.25_
29,835.56
8.15%
• The Guaranteed Fund Is closed to new contributions.
* For Guaranteed Fund deposit period history, please see the Performance Summaries enclosed with this statement.
0
•
State statutes or employer regulations may limit investments into several of RC's Corporate Headquarters '
variable funds. For more information, please check with your employer. 777 North Capitol Street, NE ,
Washington, DC 20002-4240
The assets reflected in this account are held in the ICMA Retirement Trust. (202) 962-4600 Toll -Free (800) 669-7400 .'0 ; 0 0,;„
457 DEFERRED COMPENSATION PLAN
Uhl4STATEMENT FOR THE QUARTER
�1ENDING 12/31/91
1C.MA A
RETIREMENT
CORPORATION
ACCOUNT NUMBER: 1959
TAX ID # ; 590951822
Corporate Headquarters
777 North Capitol Street, NE, Suite 00-
Washington, DC 20002-4240
(202) 962-4600 Toll -Free (800) 669-7400
TOWN OF HIGHLAND BEACH
3614 SOUTH OCEAN BLVD
HIGHLAND BEACH, FL 33487
Summary of Activity for 4th Quarter (in $) for 457 Deferred Compensation Plan
Balance on 10/01 /91
224,747.45
Contributions
7,658.38
Are you I the Growth Stogy Fud It provtded ;average
Acct Maint Fee
Fund Transfers
annuAU returns of 51 9°o fQI 1 year, Quo f>i r 5 ygarS dntl
Adjustments
�8 6%
Disbursements
6 00 . 0 0-
Slntve inel3tlEi (Past; p#3rftyr#n�nCfl dtaeS .riot
Earnings 10/31
1,964.81
guarantee fuw l resul# } Far Gis
11/30
325.74
12/31
5,186.32
and Other RiC futuiS, see R �tlate
Balance on 12/31 /91
239,282.70 TOWN OF HIGHLAND BEACH
ACCT.#1959 TAX ID#: 590951822
Summary Detail for 4th Quarter (in $)
17,875.73 1 10,804.19 51,582.75
911.69 341.79 6,404.90
3,574.49
136.36-
3
550.61
87.75
360.59
30.
662.83-
317.40-
366.12
2,814.40
1,003.52
401.31
ce on 12131't91 21, 489. 60 11, 919. 85 62, 553. 80
144,484.78
3,574.49-
463.64-
965.86
939.85
967.09
143,319.45
0076828
If you find discrepancies in your account, please call our toll -free number, (800) 669-7400, within 90 days.
To change your personal information, fill out the form on the back of this statement.
Rev. 9/91