1980.04.29_BTRB_Minutes_Regular TOWN OF HIGHLAND BEACH, FLORIDA
BOARD OF TRUSTEES
RETIREMENT PLAN
REGULAR QUARTERLY MEETING
April 29, 1980 9: 00 A. M.
The Regular Quarterly Meeting of the Board of Trustees (Retirement
Plan) was called to order by the Chairman, Mayor Louis Y. Horton,
at 9:00 A.M. In attendance were: Mayor Horton, Vice Mayor Storm
and Maree Birkbeck. Commissioner Genovese and Sgt. Cecere were
absent. The Recording Secretary, Bette Barker, was also in
attendance.
Maree Birkbeck, Treasurer, presented the Financial Statement for
the Quarter Ended March 31, 1980. Mayor Horton questioned the odd
dollars cents on the Certificates of Deposit and Maree explained
that she was permitted to reinvest the interest received.
MOTION by Vice Mayor Storm and seconded by Mayor Horton that the
Treasurer ' s report be accepted as presented. All members of the
Board voted Aye.
The Treasurer went on to report that she had received verbal
approval of the Board to reinvest $10, 000.00 in a Certificate of
Deposit at Citizens Federal at an interest rate of 11.892%. The
maturity date will be October 23, 1980.
Miss Birkbeck then stated that Francis Hamzik, the Building Official,
requested that he be taken into the Retirement Plan, including the
voluntary portion, retroactive to April 1, 1980. This normally
would have been approved at today' s meeting, however, after she had
made the appropriate payroll deductions, he changed his mind and
withdrew from the Plan.
She then reported that according to the Florida Statutes, it will
be necessary for a report by a Registered Actuary to be submitted
every three years beginning October 1, 1980. Maree will follow up
this matter and it can be discussed further at the next Regular
Meeting of the Board in July.
A
Minutes Highland Beach
Board of Trustees - Retirement Plan
Regular Quarterly Meeting
April 29, 1980 Page 2 of 2
MOTION by Vice Mayor Storm and seconded by Mayor Horton that the
meeting be ADJOURNED. Time - 9: 10 A.M.
APPROVED: z L
Louis / Horton, airman
Ai�i�ififi—
Vice Mayor • =rold C. Storm
.4 •
Maree Birkbeck T—
(Absent)
Peter J. Genovese
(Absent)
Sgt. William Cecere
8áAt '
ATTEST: • 1
Ra6ording Secretary