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HomeMy WebLinkAbout09-08-1993 Minutes MINUTES OF THE GENERAL EMPLOYEES' PENSION BOARD MEETING The meeting was called to order at 10 : 15 on September 8 , 1993 by acting chairperson, Jean Grafton. Those present were Joyce Oliver, Jean Grafton, and Judy Henry, along with attorney Lee Dehner and Ward Foster, actuary. Members of the audience included Peggy Psaledakis , Fran Gosnell , Dave Gosnell , Ricky Waldrop and Janet Resnik. The votes from the election held September 2 , 1993 , were counted and the results are as follows : Jean Grafton 42 votes , Judy Henry 30 votes , and Ricky Waldrop 28 votes . Concerns were expressed from the audience by Peggy Psaledakis and Fran Gosnell regarding the rules and regulations which were distributed to the employees . Those being distributed are wrong , so Peggy requested a corrected copy and in the future all papers sent to her should be accompanied by a memo which is dated. The attorney advised the board that the dissemination of conflicting rules was not reason enough to set aside the election, however that was the boards decision to make . A motion was made by Judy, seconded by Joyce that the election held on September 2 , 1993 be set aside . Motion carried 3/0 . (Nle Joyce moved, seconded by Judy that Section 1 . 7 be deleted from the rules as adopted 11/20/92 and that new rules be set up at this meeting . Motion carried 3/0 PEGGY REQUESTED THAT AT THE 2ND QUARTERLY MEETING IN 1994 , THE BOARD ADDRESS ONE OF THE ELECTED MEMBERS STEP DOWN AND A NEW MEMBER WOULD BE ELECTED FOR A TWO YEAR TERM. THIS WOULD THEN MAKE THE TERMS STAGGERED FOR THE ELECTED TRUSTEES. Lee said we should set time aside at one of our regular meetings to revise 1 . 7 of the rules and regulations regarding elections. A motion was made by Joyce , seconded by Judy to adopt the following temporary election procedure . Motion carried 3/0 : Due to the dissemination of conflicting rules , the Board of trustees of the General Employees ' Pension Fund has moved to set aside the election held on September 2 , 1993 . A second election will be held on September 28 , 1993 . Anyone wishing to have their name on the ballot should submit a letter of nomination to the City Clerk in her office . Nominations will be received until noon on Thursday, September 16 , 1993 . Those names received will be posted on the City Clerk' s official bulletin board, the Personnel bulletin board in City Hall , and will be distributed to all department heads by 3 : 00 p.m. on Thursday, September 16 , 1993 . Absentee ballots will be available at the City Clerk' s office beginning at 3 : 00 p.m. on Thursday, September 16 , 1993 , and will be accepted at the Personnel office I • PAGE 2 (ftwe MINUTES FROM GENERAL EMPLOYEE'S MEETING SEPTEMBER 8 , 1993 until 5 : 00 p.m. on Tuesday, September 28 , 1993 . Voting will be held on Tuesday, September 28 , 1993 , from 6 : 00 a.m. until 5 : 00 p.m. at the receptionist ' s desk in City Hall . The receptionist will oversee the ballot box and the voting . Each person will initial by his/her name when receiving a ballot . At the close of the election the ballot box will be sealed by the receptionist , with the Director of Personnel as a witness. The Director of Personnel and the receptionist will then take the ballot box to the city safe where it will be left until the Director of Personnel and the receptionist remove it and present it to the Board at their special meeting to be held Wednesday, September 29 , 1993 , at 9 : 00 a.m. in the Community Center. The votes will be counted at that time . A motion was made by Joyce , seconded by Judy, to accept the minutes from the August 24 , 1993 meeting as submitted. Motion carried 3/0 . Janet Resnik asked about chairman Paul Lewis ' absence from the last few meetings . Jean responded that he had business obligations and asked the board' s indulgence . He should be able to attend the next meeting . He was re-appointed by the city commission at their meeting on September 7 , 1993 , for another two year term. A motion was made by Judy, seconded by Joyce that items 5a and 5b be set aside until the October 12 meeting . Motion carried 3/0 . Terri McDougal , ICC , addressed the board. The board questioned her regarding the average price per share that we are paying for our stock purchases . She will get with Kathy and have representation at our next meeting ( joint session with Police and Fire Board) to further explain their purchase routine . The board also questioned her about the excess cash as reported by Ward at our last meeting . She explained that the cash was held for a short period of time to enable ICC to purchase stocks when the price was right . The total of our cash is now 10% of the total account , which Ward advised was acceptable . The RFP' s were opened and the board instructed Ward to notify Sun Bank, Key Trust , Society, and Central Bank to appear before the board at the meeting on September 29 , 1993 , to make 20 minute presentations beginning at 10 : 00 a.m. There being no further business the meeting was adjourned at 1 : 00 . Respectfully submitted, Judy Henry, Secretary L