Newtown Pension Committee
Minutes
September 17, 2012
The Newtown Pension Committee met on Monday, September 17th, 2012 in the lower meeting room of Town Hall South. The meeting was called to order at 7:30pm.
Present: Tom Murtha, Barbara Bloom, Mark Korotash, Frank Krasowski, Joe DiCandido, Dunham Smith.
Also in attendance: Carole Ross, HR
Public participation: None
Approval of Minutes: Minutes of July 16th were approved as submitted.
Correspondence: None
Approval of bills: None
Reports or requests from retirees:
Mr. Murtha stated that he had met with Mrs. Llodra, First Selectman and Robert Tait, Finance Director. He called for an executive session at 7:34 to discuss personnel and this discussion.
Executive session closed at 7:58
Mr. Krasowski announced that he will resign from the Pension committee at the end of his term or prior if the position is filled.
After extensive discussion and debate regarding the suggestion by Mrs. Llodra to hire a consultant to oversee Westport Resources, the Board unanimously decided, in their opinion that it is not needed at this time.
At the next meeting the Board will investigate the subject of a Defined Contribution Plan replacing the current Defined Benefit Plan.
The Board will continue to discuss term limits for members of the committee. They are mindful that they serve 2 years at the request of the Trustees.
Mr. Murtha stated that Mrs. Llodra is drafting an ordinance to properly designate the Pension Committee and their charge as this was not done in the 1970’s when originally formed. The committee did feel this would be appropriate.
Motion to adjourn: adjourned at 8:05
Carole Ross
Clerk
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