1975.04.24_BTRB_Minutes_Regular MINUTES: BOARD OF TRUSTEES (Retirement Plan)
At 11: 00 A.M. , April 24, 1975, Mayor Gilday, Chairman of the Board of
Trustees, called the meeting to order.
Present were: Mayor Gilday, Chairman, Commissioner Mumford, Secretary,
Commissioner Bauer, Mrs. Higgins, Treasurer, and Ptl. Cecere.
In addition the Finance Director, Mr. Anton Drasal and Bette Barker were
present.
Mayor Gilday advised the various matters to be considered as shown in
the Notice dated April 21, 1975, see attachment "A" . He also informed
the members present that it was desirable to consider and/or adopt
certain procedures and suggestions thereof for their review were furnished
in the attachment "B" (For: Board of Trustees Meeting-April 24, 1975,
various proposals summarized thereunder) . He requested that the first
order of business be the reading of the Minutes of September 27, 1974.
Discussion followed as to the correctness of paragraph three of the
minutes with reference to the Retirement Plan, Article IV, para. 2. It
was requested this be discussed later and that the minutes stand as
written unless there are errors which need correction. The minutes were
approved without dissent.
Reading from the proposals before the Board of Trustees, the suggestion
to dispense with reading of Minutes in the future met with the approval
of the Board. Commissioner Mumford offered the motion for adoption and
it was seconded by Mrs. Higgins. Voting aye were: Mayor Gilday,
Commissioners Mumford and Bauer, Ptl. Cecere and Mrs. Higgins.
The suggestion as to matters to be placed on the Agendae for meetings
was revised to add: "any Trustee" . Ptl. Cecere offered to motion to
approve the amended suggestion, Commissioner Mumford seconded and voting
approval were Mrs. Higgins, Ptl. Cecere, Commissioners Bauer, Mumford and
Mayor Gilday.
The calling of meetings, re: Regular dates and Specials at the request
of the Chairman and/or any two Trustees was adopted without change. In
the discussion of appointing the Finance Director, Mr. Drasal as the
Advisor to the Board of Trustees, the Mayor recited the proposed responsi-
bilities of the position (described in the aforesaid attachment "B") and
this met with the concurrence of the members of the Board. Commissioner
Mumford offered the motion for approval, Mrs. Higgins seconded, and voting
approval were: Mayor Gilday, Commissioners Mumford and Bauer, Ptl.
Cecere and Mrs. Higgins.
The submission of Financial Reports at the scheduled dates of regular
* Insert: Commissioner Mumford announced she would be pleased to
offer such a motion,
MINUTES: Board of Trustees (Retirement Plan) April 24, 1975 - page -2-
r.
meetings also met with the approval of the Trustees. The motion approv-
ing this requirement was offered by Ptl. Cecere and seconded by Commission-
er Mumford. All aye votes were cast by the Mayor, Commissioners Mumford
and Bauer, Ptl. Cecere and Mrs. Higgins.
Discussion then followed regarding the opening of a checking account
for withdrawals of proceeds due participants in the Fund. Mr. Drasal
suggested the checking account at University National Bank would
provide evidence for audit purposes and Mrs. Higgins confirmed that
satisfactory arrangements would be made with the commercial bank which
would eliminate a balance to be carried in the checking account.
Commissioner Bauer offered the motion for approval, Ptl. Cecere seconded'
and voting yes were: Mayor Gilday, Commissioners Mumford and Bauer, Ptl.
Cecere and Mrs. Higgins.
Mayor Gilday then advised that the recording secretary, Mary Joan Ciomei,
due to her resignation of March 12th, see copy of letter to Town Commission
attachment "C" , would no longer be acting in that capacity and he proposed
that Bette Barker be made the recording secretary.* Commissioner Bauer
seconded and voting their concurrence were Mayor Gilday, Commissioners
Mumford and Bauer, Ptl. Cecere and Mrs. Higgins.
Members of the Board were furnished with a copy of the Quarterly Report
of the Retirement Fund, attachment "D" . Mrs. Higgins advised that there
was a decrease in the "Voluntary Funds" received from the participants.
Mayor Gilday read Mrs. Ciomei' s request for a refund of her deposits to
the Fund, see attachment "E" . Discussion followed. Commissioner Bauer
offered the motion to approve this request, Ptl. Cecere seconded and
voting agreement were Mrs. Higgins, Commissioners Bauer and Mumford,
Ptl. Cecere and Mayor Gilday.
The Trustees were then reminded of their terms of appointment and it was
suggested that in September 1975, an election be held by the employees
and that the Town Commission will also consider the Commissioners to
serve on the Board.
Mayor Gilday then pointed out that the Finance Director had determined
that there are certain ambiguities in the Pension Fund provisions and
that Mr. Drasal would be consulting with Mr. Robsenberg and it was
further suggested that in the near future a Special Meeting will be called
to consider recommendations for any revisons and/or correction to the
Retirement Plan which would then be submitted to the Town Commission for
their review and/or approval.
MINUTES: Board of Trustees (Retirement Plan) April 24, 1975 - Page -3-
Discussion took place regarding page 9 of the Retirement Plan and the
excess of Fiscal Year 1974 payment and disposition thereof, the need
to consult with Internal Revenue Service to ensure propriety of provisions
of the fund, etc. It was pointed out that there was no intent on the
part of the Trustees to eliminate any credit to any participant but to
ensure that the practice meets with the rules and regulations of the I.R.S.
Mr. Drasal raised question as to what practice should be followed for
part-time employees; i.e. , annual salary paid or a base number of hours.
Discussion followed. It was the consensus of the Board of Trustees that
the Town Manager be consulted as to the specific number of hours per
week for part-time employee (s) now in the Fund and/or those who may
become eligible to become participants. It was the opinion of the "advisor"
that the base number of hours per week be used rather than the yearly
salary earned. This matter to be pursued and any required corrections to
be effected at such time.
There were no other matters before the Boar-of Trustees, the Mayor
advised the meeting, adjourned, at approxiely 12: 15 .
APPROVED: , — "e/_
(Mayor) Morton E. 9 'iday, Cha,
1
-274
(Commissioner) Ruth E Mumford, Secretary
CQ BY: / )�
C / (Commipsidner) Harry Bauer
•
Anton Drasalg-2/�/
(Advisor) , Thalia Higgins, asurer
ATTEST -It e/C^./. °�t(�-c tl/
cording Secretary William Cecere (Ptl. )
DATED: //74, / 6/ /7' 7' 5
Re: (Retirement Fund) Minutes
Attachment "A" (4/24/75)
• )owno/ ✓ 1igh,Lan &achy Palm &acdi County, Jtorit�a
�/ 3614 South Ocean Boulevard
HIGHLAND BEACH,F LORI DA 33444
305 278.4548
April 21, 1975
Trustees of the Retirement Fund
of the Town of Highland Beach
The Mayor, as Chairman of the Board of Trustees, has
called a meeting as follows:
Date: April 24, 1975 (Thursday)
Time: 11: 00 A.M. (Town Hall)
Purposes:
1. Establish procedures.
2. Consider and/or approve definitive dates for meetings
and to receive reports and/or consider matters pertaining
to the Pension Fund.
3. Authorize a checking account to be established for
reimbursement of Employee' s contributions, etc.
4. Replace and name a Recording secretary. Appoint the
Finance Director as an Advisor to the Fund.
5. Consider any other matters which may be before the
Board of Trustees.
ireaThlio 1. ate,-„ , ,
Ruth E. Mumford, Secretary
Commissioner-Trustee
cc: Mayor Gilday
Commissioner Bauer
Thalia Higgins
William Cecere
Finance Director
Attachment "B" (4/24/75)
fes.
For: Board of Trustees Meeting - April 24, 1975
Proposed procedures for consideration and/or adoption by the Trustees
of the Pension Fund.
1. Minutes.
In lieu of having minutes read, the recording secretary shall be
required to have received the approval of the Chairman and the
Secretary of the Board of the written minutes, then such copy should
be circulated to all members for their review.
At the next meeting, regular or special, all prior minutes shall
for the record be subject to a roll call vote, to approve same.
2. Agendae.
All matters to be considered at a meeting, shall be advised to all
members of the Board of Trustees, by a copy of the Agenda to be
prepared for such meeting.
It shall be the responsibility of the Chairman, Secretary, Treasurer
and/or the Finance Director to inform the recording secretary of items
for the Agenda.
3. Meetings.
It is proposed that Regular Meetings shall be held on the 15th day of
April, July, October and January. The time for which shall be set as
11:00 A.M. , and any changes be advised by notice.
I propose that Special Meetings shall be held at the call of the
Chairman and/or any two Trustees.
4. Appoint the Finance Director to be the Advisor to the Pension Fund
and duties thereof, etc.
Appoint the Finance Director as the Advisor to the Board of Trustees and
that he be empowered to answer questions which are clearly defined in
the Retirement Agreement. That routine information be within the
purview of the Finance Director and any other matters be placed before
the Board of Trustees for review and determination of policy.
The Finance Director be charged with ascertaining that all
disbursements from the Pension Fund are correctly prepared.
The Finance Director shall be instructed to take the necessary
steps for having an audit of the Fund and any other matters
to ensure compliance with State and Federal Requirements.
Such actions to be placed before the Board of Trustees for
approval.
5. An up-to-date Financial Report to be presented to the
Trustees of the Board at each regular meeting. A copy of
the quarterly report shall be available for viewing of all
participants of the Fund, one copy to the Police and one
to be on display of the Employee ' s board.
6. Checking Account for disbursement of funds.
Authorize the Treasurer to establish a checking account
at University National Bank for disbursement of Pension
Funds to be titled in the same manner as the Savings &
Loan Account Fund, of the plan.
r-4
7. Consider request(s) for withdrawal from the Pension Fund
and the manner in which accrued interest thereon will be
computed. Suggest method(s) to be considered, such as
Compounded on actual balances; based on averages, etc.
8. Any and all actions of the Trustees of the Pension Fund
to be advised to members participating in the Fund.
Re: Retirement Fund Minutes - Attachment "C" 4/24/75
/ / / Attachment "B" 3/18/75
Juin o/ Agh/and Reach, Palm t4 h Cnai , _71 .1
3610 South Ocean BOulevar0
HIGHLAND BEACH. FLORIDA 33000
305.2780508
March 12, 1975
•
Town Commission of the Town of Highland Beach
Dear Commissioners,
It is with regret that I submit my resignation effective
May 2, 1975, as Town Clerk and Municipal Court Clerk.
Thank you for affording me the opportunity to serve in this
capacity.
It has been a pleasure to have been a member of the Town' s
fit staff.
Yours very truly, •
t
ve 1 '
/!-C-r:-
Mary/Joan Ciomei
cc: Town Manager
frith:el 5
•
'V14
Attachment "D" 4/24/75
r
TOWN OF HIGHLAND BEACH RETIREMENT FUND QUARTERLY REPORT
Opening Fund Balance 1-1-75 $ 9,122.24
Funds received from Town $1,372.20
Pan. , Feb. , March /75)
Funds received from Employees 1,372.20
Voluntary Funds received from Emp. 882.23
Other Income - Interest 135.58
• Total Receipts $3,762.21 3 ,762.21
Balance on hand before payments 12,884.45
[ Payments out of Fund -0-
Balance on hand 4-1-75 $12,884.45
Thalia Higgins, Treasurer
Board of Trustees
Attachment "E" 4/24/75
April 16, 1975
Mary Joan Ciomei
Apt. 206-J, 730 Greensward Court
The Hamlet, Delray Beach, Florida 33444
Trustees of the Town of Highland Beach Retirement Plan
The Town of Highland Beach
3614 South Ocean Boulevard
Highland Beach, Florida 33444
Re: Request for payment of contribution made as an Employee of
the Town
Having heretofore submitted my resignation, to be effective as of
POMay 2, 1975, and the same was accepted, I hereby request a refund
of my contribution, with accrued interest thereon, to the abovennamed
fund.
I shall appreciate receiving the remittance.
Yours very truly,
Mary Joan Ciomei