1993.02.23_BTRB_Minutes_Regular0
0
6 H (q h�l
Town of Highland Beach Mayor:
p� • � �(•� 7oseph A. Boulay
x-•. ,•• �,�� Vice Mayor:
Bill Paul
Commissioners:
~ •=j 3614 SOUTH OCEAN BOULEVARD • HIGHLAND BEACH, FLORIDA 33487 Arthur G. Eypel
i
�/�1 *••• •.'*=� ArlinG. Voress
John F. Rand
407-278-4548 Town Manager:
Palm Beach County, Florida FAX 407-265-3582
Mary Ann Mariano
FEBRUARY 16, 1993
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 23, 1993 at 1:15 P.M. in the Commission Chambers at Town
Hall.
A G E N D A
1. MINUTES - OCTOBER 27, 1992
2. REVIEW ICMA QUARTERLY STATEMENT
3. SCHEDULE NEXT MEETING
cc: Mayor Boulay, Chairman
Vice Mayor Paul
Ethel Lenhardt
Town Manager Mariano
Finance Department
Officer Gure
Commissioner Eypel
Posted: 02/16/93
AMK
"Tree City U.S.A."
W
r
TOWN OF HIGHLAND BEACH, FLORIDA
RETIREMENT BOARD
REGULAR MEETING
Tuesday, February 23, 1993 1:15 p.m.
In the absence of Chairman/Mayor Joseph A. Boulay, Vice Mayor Bill
Paul 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 Eypel, Police Officer Stephen Gure, and Employee
Representative Ethel Lenhardt.
Also in attendance were Finance Director Michael Seaman, Town
Clerk Anne M. Kowals, and members of the general public.
Members approved the Agenda as submitted.
Minutes of the October 27, 1993, were unanimously approved as
written.
During discussion of the ICMA Quarterly Statement, Finance
Director Michael Seaman noted the monies of the 401 Retirement
Plan are invested in the eight funds offered by ICMA while monies
of the 457 Deferred Plan are invested in the six funds offered by
ICMA. The Finance Director advised monies deposited into the PLUS
• Fund from January 01, through June 30, 1993, will earn a minimum
annual rate of 7%. Performances of the Variable Funds are as
follows:
1992 January 1993
Growth Stock (3.00) 0.99
Asset Allocation 5.50 1.41
Bond Fund 5.70 2.01
Index 7.00 0.99
Cash Management 4.50 1.03
U.S. Treasury Secutities 4.40 2.59
(new fund as of 7/l/92)
The next Regular Meeting of the Trustees of the Retirement Board
is scheduled for Tuesday, August 31, 1993, at 1:00 p.m.
Upon MOTION by COMMISSIONER EYPEL/POLICE OFFICER GURE, Vice Mayor
Paul adjourned this Regular Meeting at 1:25 p.m.
APPROVED: (Absent)
Joseph A. Boulay, Chair/Mayor
131111 P ul, V' a Maycirl
NL ;V .
Arthur Eypel, C10missioner
Ethel Lenhardt, Employee Rep.
r
Year -End Summary
401
The balance on January 1, 1992:
288,075
Contributions during the year:
Employer:
41,617
Employee:
20,313
(includes rollover from
another qualified plan)
Adjustments:
(587)
(includes: disbursements
from forfeiture acct. )
Earnings:
23,976
Maint. Fees:
(850)
Balance 12/31/92:
372,544
These funds are invested in all 8 funds offered by ICMA.
457
Balance 1/1/92: 239,283
Contributions: 50,770
Fees: (280)
Disbursements: (2,400)
Earnings: 17,541
304,914
These funds are invested in 6 of the funds offered by ICMA.
Deposits into the PLUS Fund from Jan. 1 - June 30, 1993 will
earn a minimum annual rate of 7%.
Variable Funds Performances for 1992 January 1993
Growth Stock
(3.00)
0.99
Asset Allocation
5.50
1.41
Bond Fund
5.70
2.01
Index
7.00
0.99
Cash Management
4.50
1.03
US Treasury Securities
4.40
2.59
(new fund as of 7/1/92)
n
U
♦ A
ICMA RETIREMENT CORPORATION
401 QUALIFIED PENSION
PLAN
STATEMENT FOR THE QUARTER
ENDING
DECEMBER 31,
1992
THE ASSETS REFLECTED IN THIS ACCOUNT
ARE HELD IN THE ICMA RETIREMENT TRUST
TOTALS FOR
TOWN OF HIGHLAND BEACH
RETIREM
ACCOUNT NUMBER:
8777
3614 SOUTH
OCEAN BLVD
EMPLOYER:
TOWN OF HIGHLAND BEACH RETIREM
HIGHLAND BEACH FL
33487
SUMMARY OF ACTIVITY FOR 4TH QUARTER
ASSET
CASH
GROWTH
ALLOCATION
BOND
MANAGEMENT
STOCK
GUARANTEED
INDEX
PLUS
TREASURY
FUND
FUND
FUND
FUND
FUND
FUND
FUND
FUND
lS)
(41
(S)
lS)
lS)
(S)
(S)
(S)
BALANCE ON
10/01/92
694.04
921.80
603.56
17,993.93
206,313.85
363.23
121,843.67
2,166.80
EMPLOYER
0.00
0.00
0.00
3,718.69
137,044.68
363.23
$6,250.40
0.00
EMPLOYEE
684.04
921.80
603.56
14,275.24
59,302.74
0.00
26,867.62
2,166.80
ROLLOVER/
0.00
0.00
0.00
0.00
9,966.43
0.00
8,725.65
0.00
PORTABLE
CONTRIBUTIONS
51.63
0.00
64.99
2,021.06
0.00
145.02
10,848.70
50.18
EMPLOYER
0.00
0.00
0.00
915.91
0.00
145.02
8,354.50
0.00
EMPLOYEE
51.63
0.00
64.99
1,105.15
0.00
0.00
2,494.20
50.18
TRANSFERS
0.00
0.00
0.00
1,073.26
0.00
0.00
1,073.26
2,146.52-
GIC REINVEST
0.00
0.00
0.00
0.00
11,492.56-
0.00
11,492.56
0.00
EARNINGS 10/31
5.25-
13.76-
3.95-
410.85
1,340.49
0.43
776.15
55.24-
11/30
16.32
0.43-
1.36-
1,187.88
1,275.20
14.89
792.59
15.22-
12/31
11.47,
14.01
5.80
530.06
1,326.57
6.51
857.89
0.00
BALANCE ON
12/31/92
758.21
921.62
669.04
23,217.04
198,763.55
530.08
147,684.82
0.00
EMPLOYER
0.00
0.00
0.00
5,089.49
130,700.75
530.08
105,265.30
0.00
EMPLOYEE
758.21
921.62
669.04
18,127.55
57,887.52
0.00
33,539.60
0.00
ROLLOVER/
0.00
0.00
0.00
0.00
10,175.28
0.00
8,879.92
0.00
PORTABLE
GUARANTEED
FUND AND YEAR
END SUMMARY ON
REVERSE
TOTALS CONTINUED
ON PAGE
2
***
AMOUNTS
SHOWN ARE NET
OF APPLICABLE FEES AND EXPENSES
***
*** SEE MAKING
SOUND
INVESTMENT
DECISIONS: A
RETIREMENT INVESTMENT
GUIDE
*** PLEASE
NOTIFY RC
WITHIN 90 DAYS OF ANY QUESTIONS
REGARDING YOUR ACCOUNT ***
***
SEE RC HIGHLIGHTS
FOR
IMPORTANT NEWS ON MATURING
FUNDS ***
11
TOWN OF HIGHLAND
BEACH RETIREM
8777
GUARANTEED FUND AS
OF DECEMBER 31, 1992
BALANCE
ANNUAL
BALANCE
ANNUAL
($)
RETURN
($)
RETURN
99,540.68 AT
9.35%
2,129.52
AT 7.45%
5,361.02 AT
8.70%
16,996.76
AT 8.60%
11,890.43 AT
7.61%
10,918.13
AT 8.15%
YEAR END SUMMARY
BALANCE ANNUAL
($) RETURN
3,644.19 AT 7.20%
9,248.34 AT 8.00%
9,645.59 AT 8.25%
BALANCE ANNUAL
($) RETURN
10,085.80 AT 8.11%
5,919.47 AT 7.65%
13,383.62 AT 8.15%
ASSET
CASH
GROWTH
ALLOCATION
BOND
MANAGEMENT
STOCK
GUARANTEED
INDEX
PLUS
TREASURY
FUND
FUND
FUND
FUND
FUND
FUND
FUND
FUND
BALANCE ON
01/01/92
507.03
679.76
369.47
14,096.51
209,099.54
0.00
63,322.93
0.00
CONTRIBUTIONS
EMPLOYER
0.00
0.00
0.00
3,752.48
0.00
501.59
37,363.35
0.00
EMPLOYEE
216.06
197.27
279.48
4,518.85
0.00
0.00
11,209.56
225.91
ROLLOVER/
0.00
0.00
0.00
0.00
0.00
0.00
3,666.02
0.00
PORTABLE
TRANSFERS
0.00
0.00
0.00
702.26
2,102.31-
0.00
1.608.95
208.90-
GIC REINVEST
0.00
0.00
0.00
0.00
23,470.76-
0.00
23,470.76
0.00
ADJUSTMENTS
0.00
0.00
0.00
0.00
396.00-
0.00
191.39-
0.00
EARNINGS
38.83
48.36
23.57
198.05
16,136.83 -
28.49
7,518.82
16.91-
MAINT FEE
3.71-
3.77-
3.48-
51.11-
503.75-
0.00
284.18-
0.00
BALANCE ON
12/31/92
758.21
921.62
669.04
23,217.04
198,763.55
530.08
147,684.82
0.00
r�
a
•
0
ICMA RETIREMENT CORPORATION
401 QUALIFIED PENSION PLAN
STATEMENT FOR THE QUARTER
ENDING DECEMBER 31, 1992
THE ASSETS REFLECTED IN THIS ACCOUNT
ARE HELD IN THE ICMA RETIREMENT TRUST
TOTALS FOR TOWN OF HIGHLAND BEACH RETIREM
ACCOUNT NUMBER: 8777 3614 SOUTH OCEAN BLVD
EMPLOYER: TOWN OF HIGHLAND BEACH RETIREM HIGHLAND BEACH FL 33487
SUMMARY OF ACTIVITY FOR 4TH QUARTER PAGE 2
TOTAL
BALANCE ON
10/01/92 350,890.88
EMPLOYER 227,377.00
EMPLOYEE 104,821.80
ROLLOVER/ 18,692.08
PORTABLE
CONTRIBUTIONS 13,181.58
EMPLOYER 9,415.43
EMPLOYEE 3,766.15
TRANSFERS 0.00
GIC REINVEST 0.00
EARNINGS 10/31 2,449.72
11/30 3,269.87
12/31 2,752.31
BALANCE ON
12/31/92 372,544.36
EMPLOYER 241,585.62
EMPLOYEE 111,903.54
ROLLOVER/ 19,055.20
PORTABLE
*** AMOUNTS SHOWN ARE NET OF APPLICABLE FEES AND EXPENSES ***
*** SEE MAKING SOUND INVESTMENT DECISIONS• A RETIREMENT INVESTMENT GUID ***
*** PLEASE NOTIFY RC WITHIN 90 DAYS OF ANY QUESTIONS REGARDING YOUR ACCOUNT ***
*** SEE RC HIGHLIGHTS FOR IMPORTANT NEWS ON MATURING FUNDS ***
- 457 DEFERRED COMPENSATION PLAN
' STATEMENT FOR THE QUARTER
ENDING 12/31/92
!NT
M
CORPORATION
ACCOUNT NUMBER: 1959
TAX ID # : 590951822
Corporate Headquarters
777 North Capitol Street, NE, Suite 600
Washington, DC 20002-4240
(202) 962-4600 Toll -Free 1-800-669-7400
00115379-22-0093251
TOWN OF HIGHLAND BEACH
3614 SOUTH OCEAN BLVD
HIGHLAND BEACH, FL 33487
Summary of Activity for 4th Quarter (in
BI $) for 457 Deferred Compensation Plan
aance on 10/1/92
289,419.57
Contributions
9, 84 9. 7 81;/
Acct Maint Fee
Fund Transfers
Adjustments
Disbursements
600. 0 0 `V
Earnings 10/31
l , 8 5 3 .13
11/30
2,280.31
12/31�
Balance on 12/31/92 304, 914. 91 TOWN OF HIGHLAND BEACH
SuWary Detail for 4th Quarter (in $) ACCT.#1959 TAX ID#: 590951822
7,602.70 I 3,350.28 I 574.35 I 1,888.62
639.50
173.15 25.90— 8.52— 48.16—
497.85 77.77 .25j" 13.58—
208.92 53.23 10.80 36.57
9,122.12 1 3,455.38 I 773.46 I 2,163.45
144,267.11
8,713.20
9,236.77
235.30-
910.20
909.30
966.75
164,768.03
131,736.51
9,236.77-
364.70-
852.36
809.22
835.85
124,632.47
Amounts shown are net of applicable fees and expenses. See Making Sound Investment Decisions: A Retirement Investment Guide.
If you find discrepancies in your account, please call our toll -free number, (800) 669-7400, within 90 days. Rev. 11/92
Please verify the personal account information printed on the front of this statement. If any information is incorrect or has changed, please
type or print the correct information below. Be sure to sign and date the form. Tear at the perforation and mail to: The 1CMA Retirement
Corporation, Dept. J., 777North Capitol Street, NE, Suite 600, Washington, D.C., 20002-4240
Last Name
Address
City
State
Date of Birth:
Signature: —
First Name
Zip
❑❑ 0❑ ❑❑ 000-00- ❑00❑
Month Day Year Social Security Number
Date:
Middle
Apartment or Unit Number
RC Account Number
I. J
Guaranteed Fund as of 12/31/92*
BALANCE
ANNUAL
BALANCE
ANNUAL
BALANCE
ANNUAL
BALANCE
($)
ANNUAL
RETURN
($)
RETURN
($)
RETURN
($)
RETURN
3,229.71
11.75%
1,408.53
11.50%
3,567.27
10.50%
1,843.17
10.00%
2,978.82
6.80%
6,340.67
8.10%
10,839.68
8.10%
6,341.76
7.20%
5,963.92
8.11%
5,188.18
8.70%
7,373.23
8.60%
5,797.98
8.00%
4,567.92
7.65%
11,918.44
7.61%
8,705.27
8.15%
6,315.14
8.25%
32,252.78
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.
State statutes or employer regulations may limit investments into several of RC's
variable funds. For more information, please check with your employer.
The assets reflected in this account are held in the ICMA Retirement Trust
•
Corporate Headquarters
777 North Capitol Street, NE, Suite 600
Washington, DC 20002-4240 ,
(202) 962-4600 Toll -Free 1-800-669-7400 R« �T,�,