HomeMy WebLinkAboutRetirement Committee - Minutes - 02/17/1984E
GENERAL EMPLOYEES' RETIREMENT COMMITTEE
Minutes of Meeting on February 17, 1984
Ronald R. Wood's Office
Members Present: Don Botteron
Mollie Mercer
Angie Powell
Ron Wood
Members Absent: Deb McClurkin
• A meeting of the General Employees' Retirement Committee was held on February
17, 1984. The meeting was called to order by Don Botteron.
A review of Ellen Thexton's history regarding her benefits was conducted for
members who were absent at the last Board meeting. At the last meeting, the
Board recommended that a lump -sum payment in the amount of $21,813.57, payable
to Cynthia W. Burke and James P. Wolfe upon approval by the City Attorney's
Office. The City Attorney's Office was consulted on December 20, 1983, and
they suggested that a lump -sum payment be dispursed to the two named
beneficiaries both signing a Release of Claim. A.S. Hansen was also consulted
on the matter, and their recommendation was to issue monthly benefits of $66.55,
payable for life, to the two beneficiaries. The two options were discussed.
Don Botteron questioned if either the lump -sum payment or monthly payments
would be in violation of the Plan. Ron Wood stated that since the circumstances
surrounding Ellen Thexton's case were unique, the Plan would not be violated.
After discussion, Board members agreed that the lump sum option would be best.
After much discussion on the issue, Ron Wood made a motion to award lump sum
benefits in the amount of $21,813.57 based upon the City Attorney's opinion that
the Board has the authority to issue lump -sum payments to Cynthia W. Burke
and James P. Wolfe upon signing a Release of Claim as suggested by the City
Attorney's Office. Motion was seconded by Mollie Mercer. Motion passed
unanimously. A letter will be sent to the two named beneficiaries announcing
the issuance of a lump -sum payment.
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General Employees' Retirement Committee
Minutes of Meeting, February 17, 1984
Page 2
Details of Gloria White's retirement were discussed. Because the Plan does not
allow for naming two beneficiaries, Gloria has selected her son, Stephen V. Ryan,
as her beneficiary. A letter will be sent to Don Mazanec of A.S. Hansen so that
retirement benefits may be re -calculated. Gloria White will then be requested
to chose a benefit option. A telephone poll will be conducted to approve her option.
With no further business to discuss, the meeting was adjourned.
APPROVED:
Don Botteron, C airman
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cc: John E. Arnold, City Manager
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Ronald R. Wood, Finance Director