HomeMy WebLinkAboutMinutes GEPF 100494CITY OF PALM BEACH GARDENS
GENERAL EMPLOYEES PENSION FUND
OCTOBER 41 1994
A joint meeting of pension board representatives was called by
City Manager, Bobbie Herakovich for the purpose of discussing the
future of the plans.
In attendance representing the General Employees were Chairman,
Win Weldon, employee representatives, Jack Hanson and Judy Fox,
Attorney Lee Dehner and a representative from Foster & Foster,
Actuarial'
Bobbie Heravovich expressed a wish that the 3 Boards meet jointly
at least quarterly in the future- She then introduced Stems
Brindle from the ICMA Retirement Corporation to explain the
advantages and disadvantages of a Defined Contribution Plan as
opposed to the Defined Benefit Plan.
All three boards strongly opposed The Defined Contribution Plan
as there is no "guaranteed" future benefit.
All 3 boards were asked to have a meeting as soon as possible
with another joint meeting to be scheduled in the future~
The General Employees will meet October 24th at 4:30 in the City
Council Chambers.
Respectfully Submitted,
Judy Fox