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01/29/1992, Special Meeting MinutesPage 18 6 5 1 MINUTES OP i{ENNEDALE CITY COUNCIL SPECIAL MEETING - .7ANUARY 29, 1992 COMMUNITY CENTER Mayor Steve Radakovich called the meeting to order at 7:05 PM. Members present were Mayor Radakovich, Robert Mundy, Pete Kirkpatrick, Tom Boone and Ron Kovach. Mark Wright arrived at 7:10 PM. Staff in attendance were Ted Rowe, David Geeslin and Vicki Thompson. Mr. Bill Glazer of Glazer Pension Group introduced Mr. Maury Glazer who outlined a retirement plan based on City contribution only and an age weighted program. Discussion followed and Maury Glazer informed Council that his plan could be structured to Council's desire with the option of increasing, decreasing, or not participating in subsequent years. Mr. Glazer suggested that his plan be supplemented with a 457 deferred compensation plan for employees to contribute if they desired. Police Chief David Geeslin asked Council to clarify their intent on a retirement system. Geeslin wanted to know if "retirement in lieu of future pay raises" was the intent of the Council. Mayor Radakovich said that retirement was not considered in lieu of pay increases. Councilman Tom Boone stated that the retirement system would be part of the benefit package as an extra perk. Yage 1t5bb General discussion followed, no action was taken by council-. Motion by Ron Kovach, second by Robert Mundy to adjourn at 9:05 PM. Motion carried unanimously. APPRO~ED f' ,'~ J ~~~{ /J ~~~ ~ ~ ~~l ~ ~~i Mayor Steve Radakovich ATTEST: City Secretary 1 _~ i