HomeMy WebLinkAboutCCDATE=AUGUST 17, 2005 (3) • New Business
2 Retirement applientiore were received. Craig Eadler applied for retirement to commence
un B-18-05 He will have 33'years of service and qualify for a y5%pension. His ammo[will
be $643in6 monthly.A complete year by year broakdmen has been filed.A motion was made
to accept his application and place him on retirement by A. Pedals, serenaded by L. Marine.
Carried
Mare Whalen applied for retirement. His pension will commence on a date specified after the
City Council Ratifies the contract, approx. r week. His data will be finalized at that than. A
motion was made,by A. Bialek,seconded by L. Mecum, to accept his application and place
him on retirement as determined by a date specified on theapplicatiom Service time,
percentage,and amount will be ratified at the nest regular hoard meeting.
Mr. Collins explained the new State Statute concerning the pension board makeup. Ira April
Of 21um, new elections would be held to position new board members from the retired and
active roles. Also,2 appointees by the Mayor would be made to fill the other positions.
Terms of office would be set at later board meeting for the feat election.The Fire Chief, City
Clerk, Pinnace Director,and Mayor, would no longer hold office, "ex-fado'. 2 active
Firefighters, i retired member, and 2 mayoral appointces would hold positiem. The P51mnce
Director would still be the Treasurer of the fund and responsible as before for investments
andfirmnciai records. Discussion ofel mages would be made at a later meeting.
• Active employee Puefrghter payroll cbmk far the period ending 7-27-05,was discussed. An
error was made to the employee frdghter cheek which did nut take out the normal fire
Pension deduction. This was corrected by doubling the Pension deduction on the next check.
However, questions remained on how this could have happened to the Firefighters only and
not other city employers. Pat Kodak explained that the deduction;form the fire pension go
into an interest bearing checking amount, which is withdmwm to pry retiree checks. This, in
itself,is not enough to pay all the checks and other money is transferred into rover the
amount. Withthe deduction not being made atthe end of the month, it was not known if Ne
account was overdrawn or not.
Another quwok n was ask das to how flus would bn corrected and not happen again.
The Treasurer would be mtlfied of the Board' concerns.
Mr. Collins notified the Board that there wouldbe new Quildre changes which would affect
pension funds. This area concerns divorces.
A scmimar on Pension items would be held during the first week of/ ober 2005. More info
would be forthcoming.
Adjournment
• Motion m adjoum was made at o92oam by L. Mecum, seconded by A. Bialek. Carried.