Newtown Pension Committee
Minutes
March 21, 2011
The Newtown Pension Committee met on Monday, March 21, 2011 in the lower meeting room of Town Hall South. The meeting was called to order at 7:30pm.
Present: Tom Murtha, Barbara Bloom, Frank Krasowski, Mark Korotash, Dunham Smith.
Absent: Steve Schaeffer, Rich Monckton
Also in attendance: Carole Ross, Human Resources Administrator.
Public Participation: None
Approval of Minutes: The minutes for the meeting of November 15th, 2010 were approved as written.
Bills: None
Correspondence: At the Board of Selectmen meeting of December 20th, 2010 the rate of return was reduced from 8% to 7.75% effective July 1st and the wage assumption was reduced from 5% to 4%.
The committee discussed having David Leonard recommend someone who could conduct a survey of similar towns to compare the town plan in areas of funding levels, performance, discount rates, employee participation and wage assumption. Mr. Murtha will also contact CCM who may be able to help with this.
Mr. Smith moved to adjourn. Mrs. Bloom seconded
Meeting adjourned at 7:55
Carole Ross
Clerk
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