1978.11.04_BTRB_Minutes_Regular TOWN OF HIGHLAND BEACH, FLORIDA
BOARD OF TRUSTEES
RETIREMENT PLAN
REGULAR QUARTERLY MEETING
October 4, 1978 3:45 P.M.
Mayor Horton called the Regular Quarterly Meeting of the Board of
Trustees of the Retirement Plan to order at 3: 55 P.M. Those in
attendance were: Mayor Horton, Chairman, Vice Mayor Mumford,
Commissioner Storm, Maree Birkbeck, Finance Director and Jane E.
Barker, Recording Secretary. Sgt. Cecere was absent.
Inasmuch as all the members of the Board had read the minutes,
Vice Mayor Mumford made the Motion, Seconded by Maree Birkbeck, that
they be approved. All members of the Board voted unanimously to
approve the Minutes.
Mayor Horton then called for the Treasurer' s report and this was
presented by Maree Birkbeck, copy attached. Mayor Horton determined
that the disbursement to Kay Borgemenke was her contribution to the
Retirement Plan.
Maree Birkbeck then stated for Commissioner Storm' s information that
the Town is not contributing matching funds at this time inasmuch as
the forfeitures are taking care of this.
MOTION by Vice Mayor Mumford and seconded by Commissioner Storm that
the Treasurer ' s report be accepted as read. All members of the Board
voted unanimously to accept the Treasurer ' s report.
Miss Birkbeck then reported that the new participants in the Plan as
of October 1, 1978 will sign forms authorizing the Payroll Department
to deduct their contributions.
There was discussion concerning Charlotte Reece and Officer Maher
"buying back" into the Plan and it was the consensus of the Board that this
and that Charlotte Reece be allowed to do this on the installment plan./be done
A question that Sgt. Cecere asked at the last meeting on behalf of
Chief Jones regarding one' s ability to retire on a "half year" basis
will have to be determined by M-. MacDonald.
te►, Regarding Ordinance No. 339, which amended Ordinance No. 252,
Article VIII, Paragraph 2, there was considerable discussion
1
^ Board of Trustees
en) Retirement Plan
Regular Quarterly Meeting
October 4, 1978 Page 2 of 2
concerning "length of service" and vesting rights. Article VIII,
Paragraph 2 reads as follows on the amended Ordinance: "For the
purpose of computing vesting percentages for the employees eligible
for a past service contribution (Article VI, Paragraph 2) , their
vesting shall be retroactive for the same number of years as the
number of years of past service. Renumber Paragraphs 2 to 3, 3 to 4,
and 4 to 5. "
Discussion on this subject continued and it was finally decided
that Article VIII, Paragraph 2 did mean that the three employees
involved; namely, Elaine W. Roberts, Kenneth Jones and Jane E.
Barker, who have past years of service prior to the inception of
the Plan, would be able to count their past years of service at the
time of retirement.
Mayor Horton stated that he would write a letter to the three em-
ployees involved.
, Being no further business to come before the Board, the meeting,
upon MOTION by Commissioner Storm and seconded by Vice Mayor Mumford,
and approved by all Board Members ADJOURNED at 4: 35 P.M.
APPROVED:
May ouis Y. Horton, Chairman
i&z''4.
Ruth . Mumfor , ' e Mayor
4/4-4-1 • X26-+-`�
Harold C. Storm, Commissioner
/ ) ' .1A—ej
Maree Birkbeck, Treasurer
(Absent)
Sgt. William Cecere
ATTEST: �trn-G� et4.-Lt---
R'cording Secretary
• Dated: - C-t, 67 /57:7g7