Januray 2010 Pension Meeting Minutes

We held our Pension Board meeting on 1-7-2010.

An Election of Pension Board Officers was held with the following results: Chairman – Ed Wall, Secretary – Andrella Kenner, Clerk – Jelani Hooks and Vise-Chairman was deferred until the next meeting.

Ratification of 5 invoices was approved.

Review of 4th quarter market results by Callan revealed a good 4th quarter with a good rebound for the year 2009. Callan introduced 2 new representatives that will be handling our account.

Segal reviewed the early retirement incentive program and contribution projections.

Once approved by the BOC county employee contribution into the pension plan will go from 4.5% to 5%, this is the ½% increase discussed in previous emails. The split between county and employee contribution will be 10% county / 5% employee for 2010.

The early retirement incentive program is moving forward. Once the BOC makes a decision the exact details will be disclosed.

A Home Rule Ordinance changing the disability pension guidelines was approved and will be sent to the BOC for final approval. The changes are to require an employee be vested in the pension plan before he can receive a disability pension (excluding on the job injuries) and require the employee to be unable to engage in any occupation with the county for which he is or becomes reasonably qualified by education, training, or experience.

Requests from 5 employees to repay contribution withdrawn form the pension plan, so as to receive accredited service for prior employment were approved.

Requests from 2 employees to pay contributions for employment on leave without pay, so as to receive accredited service for that employment were approved.

Disability pensions for 3 employees were approved.

Disability pensions for 2 employees were denied.

Please post this and attachment for all employees that do not have email.

Please no emails on early retirement program. I will keep you posted as new info becomes available.

James Butler

Pension Board Member

Click here for November 2009 Pension Statement