1993.08.31_BTRB_Minutes_Regular0
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Town of Highland
Beach
Mayor:
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Arlin G. Voress
Z R` I
Vice Mayor:
co
Bill Paul
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3614 SOUTH OCEAN BOULEVARD • HIGHLAND BEACH, FLORIDA 33487
Commissioners:ArthurG.Eypel
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John F. Rand
PL 0 R %u
David Augenstein
Palm Beach County, Florida
407-278-4548
FAX 407-265-3582
Town Manager:
Mary Ann Mariano
August 23, 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, Florida, has been called for
Tuesday, August 31, 1993, at 1:00 p.m. in the Commission Chambers
at Town Hall.
A G E N D A
1. MINUTES - FEBRUARY 23, 1993
2. REVIEW ICMA QUARTERLY STATEMENT
ICMA Representative Steven P. Brindle will be
in attendance to discuss any changes and/or new
services offered by ICMA and answer any questions
3. SCHEDULE NEXT MEETING
4. ADJOURNMENT
cc: Mayor Voress, Chairman/Mayor
Vice Mayor Paul
Ethel Lenhardt
Town Manager Mariano
Finance Department
Police Dept. Representative
Commissioner Eypel
Posted: 8/23/93
AMK
"Tree City U.S.A."
TOWN OF HIGHLAND BEACH, FLORIDA
RETIREMENT BOARD
REGULAR MEETING
Tuesday, August 31, 1993 1:00 p.m.
Chairman/Mayor Arlin Voress called the Regular Meeting of the
Trustees of the Retirement Board, Town of Highland Beach, Florida,
to order at 1:00 p.m. in the Commission Chambers at Town Hall.
Others present were Commissioner Arthur Eypel, Police Officer
William Howe, and Employee Representative Ethel Lenhardt. Vice
Mayor Bill Paul was absent.
Also present were Finance Director Michael Seaman, Town Clerk Anne
M. Kowals, CMC, and members of the general public.
The Agenda was unanimously accepted as written.
The February 23, 1993, Meeting Minutes received unanimous accept-
ance upon proper MOTION.
Inasmuch as ICMA Representative Steven P. Brindle had not arrived
at Town Hall, at this point, the Finance Director advised the
Board of Trustees a new service, the Automated Service Line, is
available 24 hours a day, every day of the week, free of charge.
This new phone line allows participants access to current informa-
tion regarding their personal account and the performance of the
RC funds.
The Finance Director noted the Plus Fund interest rate for the
period of July 1, 1993, through December 31, 1993, is 6.25%. The
Growth Stock Fund, having suffered a decline for the first quarter
of 1993, showed a return of 5.0% for the second quarter of 1993.
It was noted, as of June 30, 1993, the total investments in the
401 Qualified Pension Plan amounted to $415,874. while the 457
Deferred Compensation Plan figure was $334,550.
ICMA Representative Mr. Steven P. Brindle arrived at approximately
1:10 p.m. at which time the employee's 2% required contribution to
the 401 Plan was under discussion. Mr. Brindle advised the Town's
contract could be changed; however, the percentage would have to
be uniform for all participants. In an attempt to differentiate
between the 401 and 457 Plans, Mr. Brindle stated all employees
must participate in the 401 Qualified Pension Plan whereas parti-
cipation in the 457 Deferred Compendation Plan is voluntary on the
part of an employee. It was noted that an employee may continue
to leave funds in either Plan following termination of employment;
however, no contributions may be made to either Plan once employ-
ment is terminated.
•
Trustees of the Retirement Board
Regular Meeting of August 31, 1993
• Page 2 of 2
The next Regular Meeting of the Trustees of the Retirement Board
is scheduled for Tuesday, February 22, 1994, at 1:15 p.m.
There being no further business to come before this Retirement
Board, Chairman/Mayor Voress adjourned the Regular Meeting, upon
propoer Motion, at 1:25 p.m.
APPROVED:-
rlin Voress, Chairman/Mayor
Absent
B 1 qaul, Vie
v v Of vvv
Artiyur Eype,�6„ noonissioner
William /HQWe, Po
Ethel Lenhardt, Emp . Rep.
0
•
ICMA
RETIREMENT
CORPORATION
•
ICMA RETIREMENT CORPORATION
401 QUALIFIED PENSION
PLAN
Suite600
(202)962-4600
STATEMENT FOR THE QUARTER
777 North Capitol Street.
NE Toll Free (800) 669-7400
ENDING JUNE 30, 1993
Washington, OC 20002-4240
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 2ND QUARTER
ASSET
CORE
CASH
GROWTH
EQUITY
ALLOCATION
BOND
MANAGEMENT
STOCK
GUARANTEED
INDEX
PLUS
FUND
FUND
FUND
FUND
FUND
FUND
FUND
TOTAL
BALANCE ON
04/01/93
854.14
957.67
757.78
25,360.08
201,004.87
729.63
164,216.81
393,880.98
EMPLOYER
0.00
0.00
0.00
6,131.70
131,988.27
729.63
117,975.77
256,725.37
EMPLOYEE
854.14
957.67
757.78
19,228.38
58,643.25
0.00
37,318.99
117,760.21
ROLLOVER/
0.00
0.00
0.00
0.00
10,373.35
0.00
9,022.05
19,395.40
PORTABLE
CONTRIBUTIONS
54.85
0.00
68.91
1,924.85
0.00
25.47
11,602.90
13,676.98
EMPLOYER
0.00
0.00
0.00
837.29
0.00
25.47
8,906.58
9,769.34
EMPLOYEE
54.85
0.00
68.91
1,087.56
0.00
0.00
2,696.32
3,907.64
TRANSFERS
0.00
0.00
0.00
0.00
0.00
23.37
23.37-
0.00
GIC REINVEST
0.00
0.00
0.00
0.00
16,649.47-
0.00
16,649.47
0.00
ADJUSTMENTS
0.00
0.00
0.00
0.00
50.00
0.00
0.00
50.00
EMPLOYER
0.00
0.00
0.00
0.00
50.00
0.00
0.00
50.00
EARNINGS 04/30
20.97-
6.47
4.49
1,106.18-
1,309.74
22.17- 923.80
1,095.18
05/31
14.78
0.07-
2.82-
1,817.99
1,302.93
19.42
1,033.11
4,185.24
06/30
9.69
18.48
6.83
654.89
1,218.83
3.59
1,073.34
2,985.65
BALANCE ON
06/30/93
912.49
982.55
835.19
28,651.53
188,236.90
779.31
195,476.06
415,874.03
EMPLOYER
0.00
0.00
0.00
7,316.31
125,790.46
775.29
137,693.28
271,575.34
EMPLOYEE
912.49
982.55
835.19
21,335.22
57,003.73
4.02
43,473.64
124,546.94
ROLLOVER/
0.00
0.00
0.00
0.00
5,442.71
0.00
14,309.14
19,751.85
PORTABLE
***
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 ***
•
TOWN OF HIGHLAND BEACH RETIREH
8777
GUARANTEED FUND AS OF JUNE 30, 1993
BALANCE ANNUAL BALANCE ANNUAL
($) RETURN ($) RETURN
103,370.13 AT 8.35% 1,103.31 AT 7.45%
4,211.20 AT 8.70% 9,086.68 AT 8.60%
12,330.80 AT 7.61% 11,337.85 AT 8.15%
BALANCE ANNUAL
($) RETURN
1,886.00 AT 7.20%
9,601.38 AT 8.00%
10,029.74 AT 8.25%
BALANCE ANNUAL
($) RETURN
5,236.55 AT 8.11%
6,131.78 AT 7.65%
13,911.48 AT 8.15%
•
s
E
:IN457 DEFERRED COMPENSATION PLAN
L
STATEMENT FOR THE QUARTER
ENDING 6/30/93
WIRENIENT
� F„
PORATION
ACCOUNT NUMBER: 1959
TAX ID # : 590951822
� \/,)�0/q j
Corporate Headquarters
777 North Capitol Street, NE, Suite 600
Washington, DC 20002-4240
(202) 962-4600 Toll -Free 1-800-669-7400
00118993-22-0019450
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 /93 315 802 50
Contributions
13,235.40
Acct Maint Fee
18.00-
Fund Transfers
Adjustments
.92
Disbursements
600.00-
Earnings 4/30
1,309.35
5/31
2,610.80
6/30
2,209.43
Balance on 6/30/93 334, 550.40 TOWN OF HIGHLAND BEACH
ACCT.#1959 TAX ID#: 590951822
Detail for 2nd Quarter (in $)
9,66800 I 3,596.90 ( 1,0006:9922 I 2,615.27
652:1400
42212- 88.42- 6.84 28.83
689:63 60.74 .02- 10.00-
247.65 38.90 22.06 61.45
10,835.30 1 3,608.12 1 1,236.80 1 2,995.55
180,923.37
12,082.26
18.00-
12,357.02
299.76-
1,023.36
1,118.23
1,144.23
208,330.71
117,992.04
12,356.10-
300.24-
760.86
752.22
695.14
107,543.92
Amounts shown are net of applicable fees and expenses. See Making Sound Investment Decisions: A Retirement Investment Guide.
If you find discrepancies in your account, please call our toll -free number, 1-800-669-7400, within 90 days. Pow. Bros
Please verify the personal account information printed on the front of this statement. If any information is incorrect or has chaLiged, please
type or print the correct information below. Be sure to sign and date the form. Tear at the perforation and mail to: The ICMA Retirement
Corporation, Dept. J., 777 North Capitol Street, NE, Suite 600, Washington, D. C., 20002-4240
Last Name
Address
City
State
❑❑ ❑❑ ❑❑
Date of Birth: Month Day Year
Signature:
Guaranteed Fund as of 6/30/93*
First Name
Zip
Social Security Number
Date:
Middle
Apartment or Unit Number •
1959
RC Account Number
BALANCE
ANNUAL
BALANCE
ANNUAL
BALANCE
ANNUAL
BALANCE
ANNUAL
($)
RETURN
($)
RETURN
($)
RETURN
($)
RETURN
1,978.63
11.75%
1,370.40
11.50%
2,312.70
10.50%
912.29
10.00%
2,154.46
6.80%
6,159.51
8.10%
10,676.68
8.10%
3,141.74
7.20%
2,983.19
8.11%
3,734.09
8.70%
1,796.55
8.60%
5,731.67
8.00%
4,496.65
7.65%
11,872.67
7.61%
8,673.59
8.15%
6,340.98
8.25%
33,208.12
8.15%
• The Guaranteed Fund Is closed to new contributions.
* For Guaranteed Fund deposit history, please see /n The Market enclosed with this statement.
State statutes or employer regulations may limit investments into several of the ICMA
Retirement Trust's total return funds. For more information, check with your employer.
The assets reflected in this account are held in the ICMA Retirement Trust.
•
Corporate Headquarters
777 North Capitol Street, NE LIN
Washington, DC 20002-4240 11 11^
Krnkvws�
(202) 962-4600 Toll -Free 1-800-669-7400