1992.10.27_BTRB_Minutes_Regular's "`-�� wit,Town
of Highland
Beach
Mayor.
Joseph A. Boulay
,
Vice Mayor:
3 • :� %
Bill Paul
o: •cam/
r •, : = j
1
3614 SOUTH OCEAN BOULEVARD a HIGHLAND BEACH. FLORIDA 33487
Commissioners:
Arthur G.Egpel
Arlin Voress
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1441k
G.
fO p;0� �
40?-278 4548
John F. Rand
\
Palm Beach County, Florida
FAX 407-265-3582
Town Manager.
Marl, Ann Mariano
OCTOBER 20, 1992
TRUSTEES OF THE RETIREMENT BOARD
OF THE TOWN OF HIGHLAND BEACH
F
A Regular Meeting of the Board of Trustees of the Retirement Board
of the Town of Highland Beach has been called for Tuesday,
October 27, 1992 at 1:15 P.M. in the Commission Chambers at Town
Hall.
40
A G E N D A
1. MINUTES - JUNE 30, 1992
2. REVIEW ICMA QUARTERLY STATEMENT
3. SCHEDULE NEXT MEETING
TOWN CLERK
cc: Mayor Boulay, Chairman
Vice Mayor Paul
Ethel Lenhardt
Town Manager Mariano
Finance Department
Officer Gure
Commissioner Eypel
Posted: 10/20/92
AMK
is
"Tree City U.S.A."
TOWN OF HIGHLAND BEACH, FLORIDA
RETIREMENT BOARD
REGULAR MEETING
Tuesday, October 27, 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 Commissioner Arthur Eypel, Police Of-
ficer Stephen Gure, and Employee Representative Ethel Lenhardt.
Vice Mayor Bill Paul was absent.
Also in attendance were Finance Director Michael Seaman, Town
Clerk Anne M. Kowals, and members of the general public.
The Agenda was approved as written.
Minutes of the June 30, 1992 Regular Meeting of the Board of
Trustees of the Retirement Board were accepted upon MOTION by
EMPLOYEE REPRESENTATIVE ETHEL LENHARDT/COMMISSIONER ARTHUR EYPEL.
The MOTION was favorably received.
Finance Director Michael Seaman, explaining the ICMA Quarterly
Statement ending 6/30/92, stated the Town and Employee investment
in the 401 (k) plan is approximately $330,000; and, the Employees
investment in the 457 plan is approximately $271,000.
Deposits in the Guaranteed Plus Fund, through the end of the year,
will earn a minimum of 7%; it is predicted this rate will decrease
in early January, 1993. For the month of October, the estimated
yield for the Guaranteed Plus Fund in the 457 plan is 7.2%, and
7.15% for the 401 (k) plan.
The new U. S. Treasury Securities Fund, in effect as of 6/01/92,
earned a year to date rate of 5.95%. In September, said Fund
earned a rate of 1.41%.
The Finance Director noted the Growth Stock Fund, on the decline
most of the year, had earnings of 1.17%; however, it remained at
negative 12.84% for the year.
Other variable Funds year to date rates were as follows:
Index Fund . . . . . . . . . . . . . . . 1.82%
Asset Allocation . . . . . . . . . . . . 2.25%
Bond Fund . . . . . . . . . . . . . . . 5.76%
Cash Management Fund . . . . . . . . . . 4.53%
U
Board of Trustees of the Retirement Board
October 27, 1992
Page 2 of 2
A brief discussion ensued with regard to the frequency of meetings
of the Board of Trustees of the Retirement Board. The Finance
Director, noting the present schedule of quarterly meetings con-
flicts with ICMA's submittal of their quarterly statements, sug-
gested meetings be scheduled every six months (the last Tuesday in
February and the last Tuesday in August) as said statements are
received a month following the ending date. It was the consensus
to have said Board meet every six months with the understanding
that the Board would not be precluded from scheduling additional
meetings if and when the Finance Director sees a need to do so.
The next regular meeting of the Trustees of the Retirement Board
is scheduled for Tuesday, February 23, 1993, at 1:15 p.m.
Upon MOTION by COMMISSIONER EYPEL/POLICE OFFICER GURE, Chairman/
Mayor Boulay adjourned the regular meeting of the Trustees of the
Retirement Board at 1:25 p.m.
APPROVED: �L�/�-ems �d-3 3
oseph A. Boulay,
Chair/Mayor-
ATT,.EST:
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Oat /
amk
0
Absent
Bi 1 P ul, Vice
/ A
, JC#=A$sioner
ephen V...,Gure, Pdtice Officer
t, Employee Rep.
ICMA RETIREMENT CORPORATION
401 QUALIFIED PENSION PLAN
STATEMENT FOR THE QUARTER
ENDING JUNE 30, 1992
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 2ND
QUARTER
ASSET
CASH
GROWTH
ALLOCATION
BOND
MANAGEMENT
STOCK
FUND
FUND
FUND
FUND
lS)
(s)
(E)
(S)
ICMA
RETIREMENT
CORPORATION
Suite 600 (202) 9624600
777 North Capitol 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 INDEX PLUS
FUND FUND FUND TOTAL
BALANCE ON
04/01/92
547.37
732.48
441.79
16,538.52
209,437.88
EMPLOYER
0.00
0.00
0.00
2,247.28
136,680.42
EMPLOYEE
547.37
732.48
441.79
14,291.24
58,419.10
ROLLOVER/
0.00
0.00
0.00
0.00
14,338.36
PORTABLE
CONTRIBUTIONS
45.15
58.84
64.35
2,136.90
0.00
EMPLOYER
0.00
0.00
0.00
999.95
0.00
EMPLOYEE
45.15
58.84
64.35
1,136.95
0.00
ROLLOVER/
0.00
0.00
0.00
0.00
0.00
PORTABLE
GIC REINVEST
0.00
0.00
0.00
0.00
10,805.64-
EARNINGS
9.73
24.04
9.82
720.50-
4,022.02
BALANCE ON
06/30/92
602.25
815.36
515.96
17,954.92
202,654.26
EMPLOYER
0.00
0.00
0.00
3,138.77
134,756.28
EMPLOYEE
602.25
815.36
515.96
14,816.15
58,136.10
ROLLOVER/
0.00
0.00
0.00
0.00
9,761.88
PORTABLE
0
47.63 79,318.21 307,063.88
47.63 60,204.68 199,180.01
0.00 19,113.53 93,545.51
0.00 0.00 14,338.36
142.63 14,899.30 17,347.17
142.63 8,629.66 91772.24 /
0.00 2,603.62 3,908.91 ✓
0.00 3,666.02 3,666.02V'
0.00 10,805.64 0.00
0.19 1,709.94 5,055.24
190.45 106,733.09 329,466.29\11
190.45 74,630.52 212,716.02
0.00 23,531.95 98,417.77
0.00 8,570.62 18,332.50
*** 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 RETIREN
8777
GUARANTEED FUND AS OF JUNE 30, 1992
BALANCE ANNUAL BALANCE ANNUAL
($) RETURN ($) RETURN
95,633.33 AT 8.35% 2,053.97 AT 7.45%
3,084.13 AT 8.05% 5,231.29 AT 8.70%
11,417.04 AT 7.65% 11,502.96 AT 7.61%
12,866.66 AT 8.15%
BALANCE ANNUAL
($) RETURN
3,519.03 AT 7.20%
16,325.59 AT 8.60%
11,415.43 AT 8.15%
BALANCE ANNUAL
($) RETURN
9,698.13 AT 8.11%
8,950.68 AT 8.00%
10,956.02 AT 8.25%
•
u
•
457 DEFERRED COMPENSATION PLAN
STATEMENT FOR THE QUARTER
ENDING 6/30/92
& ai
RNENT
CORPOR.ariON
ACCOUNT NUMBER: 1959
TAX ID # : 590951822
Corporate Headquarters
777 North Capitol Street, NE, Suite 600
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 2nd Quarter (in, $) for 457 Deferred Compensation Plan
Balance on 4/1 /92
2 54 , 310 . 19 - .
Contributions
12 , 9 7 3. 0 0
Acct Maint Fee
27 . 00—`
Fund Transfers
Adjustments
Disbursements
600 . 00—'
Earnings 4/30
1,063.85
5/31
2,039.69
6/30
1,234.07
Balance on 6/30/92 270,993.80 TOWN OF HIGHLAND BEACH
ACCT.#1959 TAX ID#: 590951822
St,&ary Detail for 2nd Quarter (in $)
20,802.12
12,208.66
129.91
79,849.37
1,385.09
206.57
195.12
11,186.22
1.97-
1.35-
23.68-
11,811.76-
9,374.46-
21,186.22
7,704.40
183.99-
540.09-
185.47
.14
515.59
189.90
27.29
3.96
892.75
348.71-
19.06-
2.78
715.50
9,674.58 1 3,234.47 1 330.56 1 121,842.38
141,320.13
nents 7 , 7 0 4 . 4 0
vents 416.01 4.drmance summaries
4130 902.74 :enclosed with this
5/31 925.79 :statement.
6/30 883.56
30/92 135,911.81
If you find discrepancies in your account, please call our toll -free number, (800) 669-7400, within 90 days. 22-0030386
To change your personal information, fill out the form on the back of this statement. Rev. 6192
Please verify the personal account information printed on the front of this statement. If any information is incorrect or has changed, please`
type or print the correct information below. Be sure to sign and date the form. Tear at the perforation and mail to: The ICMA Retirement"
Corporation, Dept. J., 777 North Capitol Street, NE, Suite 600, Washington, D. C., 20002-4240
Last Name
Address
City
State
Date of Birth
Signature: _
First Name
Mid
Apartment or Unit Number
Zip
❑❑ ❑❑ ❑❑ ❑❑❑—❑❑—❑❑❑❑
Month Day Year Social Security Number RC Account Number
Date:
A
aranteed Fund as of 6/30/92*
BALANCE
ANNUAL
BALANCE
ANNUAL
BALANCE
ANNUAL
BALANCE
ANNUAL
($)
RETURN
($)
RETURN
($)
RETURN
($)
RETURN
3,935.99
11.75%
2,696.91
11.50%
3,473.27
10.50%
1,785.02
10.00%
2,881.91
6.80%
4,146.01
7.80%
6,849.94
8.10%
10,509.18
8.10%
6,159.14
7.20%
5,764.89
8.11%
1,772.36
8.05%
5,044.31
8.70%
7,174.93
8.60%
5,677.67
8.00%
8,918.64
7.65%
11,574.41
7.61%
9,137.51
8.15%
7,402.64
8.25%
31,007.08
8.15%
* The Guaranteed Fund Is closed to new contributions.
* For Guaranteed Fund deposit period history, please see In The Market enclosed with this statement. is
•
Your Employer, state laws or local laws may restrict how your deferred compensation Corporate Headquarters %,IN
investment funds can be allocated. 777 North Capitol Street, NE
Washington, DC 20002-4240 RET
The assets reflected in this account are held in the ICMA Retirement Trust. (202) 962-4600 Toll -Free (800) 669-7400 0� R MN