Pension Board Meeting 4/23/2014

April 24, 2014,
At the Pension Board meeting yesterday there were a few interesting items that came up.
#1-- Retiree Gene Wrenn spoke to the trustees on the upcoming issue of recording meetings. He passed out a paper with 7 points as to why there is a need to record the meetings, ONE of the Trustee's ( Police Trustee Rich Griner ) was observed by several Retiree,s , to disrespect Retiree Wrenn by putting the pass out aside and not even bother to read it.

I spoke on the matter after Retiree Wrenn and told them I agreed with him . I also pointed out that if it had not been for a Retiree listening to past recordings, we would have been denied the money we received in the Parker Law suit ( We are still owed $1600.00 and $800.00 for surviving spouses ). If I was a Trustee, I would want to be recorded if for no other reason than to disprove any false accusations leveled toward me about any statement I might make at a meeting.

Retiree Wes Rice also spoke and explained that he worked for Brookins Communications and could offer them a better and reasonable recording system.
Retiree Joe Moscato also spoke on the assets of having recordings.
The one thing that puzzled me about the Trustee,s not wanting the recordings is the fact that the Policy to be voted on at the next meeting ( May 2014 ) states that they can record a meeting at any time , the Trustee's vote to do so. THIS would require having a workable recording system ready and on scene . So why not use it all the time, as now , for their protection?

Also on every Agenda put out it states " any person who desires to appeal any decision of the Board of Trustee's with respect to any matter considered at this Board meeting will need a record of the proceedings and for this purpose, may need to ensure that a a verbatim record of the proceedings is made which includes testimony and evidence upon which the appeal is based " . How could they do this if no recording is made?

#2---Investment Manager Jay Bowen spoke on our Investment Portfolio . It is at 9.7% with a value of $1,891,430,130. as of 4/22/2014

#3--- Next item was LOD Retirement of TPD officer C. Smith. He was tasered as a TPD requirement to carry a Taser.This triggered a malfunction in his nerves from his Heart and there was quite a discussion initiated by Trustee Griner as to whether this was a pre-existing health issue or not! I wonder if TFD requires an Officer to be shot with a Glock before they can carry a Glock? It was finally voted to retire him LOD.

#4---Another item that was brough forth was a problen with Wells Fargo transfering tax money to the IRS. There was a typo which ended up the money not being sent to the IRS and it resulted in a IRS Penalty of $77,000. This was discussed by the Interim Plan Administrator and she is working with all involved to get it corrected and cleared up , hopefully by Wells Fargo. This happened last August when the Previous Administrator ( Ms Campbell ) still with our Plan and the Previous Chairman ( Trustee Griner ), was still in Office. It was discussed by the Accountant that it seems to be the fault of Wells Fargo. Hopefully Wells Fargo will make it right.

#5---LAST but not least !!! We should know at next months meeting if there will be a 13th Check and if so how much

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