Pension Board & system_September 1976PENSION BOARD & SYSTEM
(continued)
Employees' Retirement System from Group Two of
the employees of CMB. Res. #76-15118 adopted,
declaring Ronald L. Rumbaugh to be elected as
Group 2 Trustee, for 3 yr. term expiring
8/31/79.
114
Date
. 9/1/76
Amending Ord. #1901, providing for reduced pen- 9/1/76
sion benefits for General Employees commencing
employment on or after July 1, 1976. City Atty.
advised that ord. which was given 1st. reading
on May 5, 1976, should be dropped, and that
ord. prepared by Actuary should now be given
first reading as a new ord. Revised ord. passed
on 1st reading. Hearing and 2nd reading scheduled
for Oct. 6, 1976, at 2:00 p.m.
4
PENS 10'; MARD & SYSTEM 114A
Date
Res. #77-15426 adopted, declaring John Phillips 9/7/77
to be elected as Group l Trustee, for 3 -yr term
expiring 8/31/80, election held 8/30/77.
Memo #6471, audit contract for Retirement System 9/7/77
and General Employees and Elected Officials,
(deferred from 8/17/77). Res. #77-1`:'-2 adopted,
authorizing execution of agreement with Rachlin
& Cohen to perform audit of System, for 1 -yr.
ended 12/31/77, at a fee of $6,000. (See Audit)
Memo #6496, Res. #77-15433 adopted, authorizing 9/7/77
assignment of agreement with Boston Co. of South-
east for investment counseling services, to
Investment Counsel of the Southeast, with same
terms and conditions to prevail,
PENSION BOARD & SYSTEM 115
Date
Councilman Weinstein requested report re: 9/7/76 -BH
projected annual contributions by City to
both pension plans for next 5 yrs. (NOTE:
LTC 455-76 Actuary's report filed in meeting
records.) (Page 19)
Modified Pension Plans for new employees 9/14/76 -BW
(details in B.A.C. recommendation). Report
made that Police and Fire Amendment on
9/28/76 ballot; that General Employees ordi-
nance was passed on first reading, with
final at first meeting in October. (P.9.10) 9/14/76 -BW
BAC recommendation #12, modification of pen- 9/27/76B
sion plans for new employees, (discussed