Newtown Pension Committee
Minutes
September 20th, 2011
The Newtown Pension Committee met on Tuesday, September 20th, 2011 in the lower meeting room of Town Hall South. The meeting was called to order at 7:30pm.
Present: Tom Murtha, Frank Krasowski, Dunham Smith, Rich Monckton.
Westport Resources
Also in attendance: Carole Ross, Human Resources Administrator.
Westport Resources presented their annual report to the committee, see attached summary. A discussion took place following the report regarding a further reduction to the rate of return to 7.5%. The cost to the town per David Leonard, pension actuary would be 15% or $164,000 for each ¼% reduction. The committee will discuss this at the next meeting.
Approval of Minutes: The minutes for the meeting of July 18th, 2011 were approved as written.
Approval of bills: none
Reports or requests from retirees: None
Old business: none
Motion to adjourn: 8:31
Carole Ross
Clerk
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