HomeMy WebLinkAboutCity Council Committees - Fireman's Relief and Pension Board - 07/31/1974 y�
Firemen's Pension Board
July 31 , 1974
A meeting of the Firements Pension Board was called to order at 10:OOAnM.
by Mayor' Hogan. Present : Board members. Councilman-Gary Just and=Secretary
Marie Jensen. Also present : Finance Director Winkle.
Finance Director Winkle noted that the Pension Fund Investment portfolio
had been reviewed by consultant Richard L. Evans. Mr. Evans has recommended
that no changers be made at this time in the mutual funds holdings, and that
no changes be made in the funds invested in City of Kent LID notes. He has
recommended however that a portion of the Security S & L $20,000 passbook
account be eoriverted into Certificates of Deposit in order to gain the
higher Interest rater,
It was noted that the City Treasurer would determine the amount to be
retained in the pass book account in accordance with anticipated expendi—
tures. Mayor Hoganmoved to accept the recommendations of Mrs Evans and
F to so advise the City Treasurer. Jensen seconded. Mention carried unan—
imously.
(Board members Bridge & Ornderiff were not in attendance, but Orndorff
was contacted by telephone and concurred in the motion. Bridge was out of
town).
MARIE JENSE Ci y Clerk
Secretary of—Ftoard
Copies: Board Memebers
Finance Director
City 'Treasurer
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