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S. <br />Mr. <br />atio. <br />plan <br />now <br />vest <br />by t <br />ment <br />othe <br />acce <br />Stan <br />Life <br />empl <br />izat <br />Comm <br />time <br />of I <br />deve <br />appr <br />will <br />City <br />to a <br />A mo <br />Dire <br />tive <br />h. Group Pension and Insurance for Staff: GROUP PENSION <br />ellinger requested-consideration for the'evalu.- INSURANCE <br />and review of a.group pension and insurance <br />for the staff. Most City Departments do not <br />ave a retirement program. The staff has in- <br />gated several programs, including one submitted <br />e National Association for Community Develop- <br />...... <br />This program appears to have some advantages ...... <br />programs reviewed do not have, and has.been <br />ted by the Federal Government as having sub - <br />ial merit. This program is with the Prudential <br />Insurance Company and the employee and the <br />yer contribute 5 %. The request was for author <br />on to review this program and consult with the <br />ssion's Attorney for legality. In the.mean- <br />permission was requested to submit a Letter <br />tent, which would, at least, permit the Re- <br />opment staff, subject-to Commission and City <br />val, to participate in this program, if it <br />not conflict with any retirement program the <br />is reviewing. This Letter of Intent.in no way <br />ves a program, nor does it commit the Commission <br />ion was entertained to authorize the Executive <br />for and Legal Counsel to investigate the program <br />er and to report back to the Commission. Mr. <br />n said we should not be satisfied_ with just one <br />ttal, as insurance companies are highly+ competi- <br />and others should be brought in. <br />Mr. Chenney raised the question on who sets the <br />length of back service credits if a Letter of Intent <br />is not filed by June 30th. President Wiggins said <br />this is one of a number of questions our Legal <br />Counsel and staff should find out. <br />On motion by Rev. Williams, seconded by Mr. Wilhelm, <br />a Letter of Intent is authorized to be filed and the, <br />prog am reviewed as requested. _- <br />i. Nekt Meeting: As the next meeting date <br />would normally fall on Friday, July 4, 1969, Presi- <br />dent Wiggins requested an alternate date. On <br />motion by Mr. Wilhelm, seconded by Mr. Chenney, the <br />next regular meeting is set for Friday, July 11, <br />1969 at 10:30 A.M., in the Office of the Depart- <br />ment of Redevelopment. This decision was unani- <br />mous y supported by all Commissioners. <br />-7- <br />NEXT MEETING, <br />JULY 11, 1969 <br />M <br />