1. Everett School Employee Benefit Trust
    1. Attendance
    2. Trustees   Also Attending
    3. I. Call to Order
    4. III. Approval of Minutes
    5. IV. Financials
    6. V. Change in Trustee Matters
    7. VI. Consultant, Follow-up regarding renewals for 2005.
    8. VII. Subrogation Issue
    9. VIII. Other


Everett Employees Benefit Trust

Minutes, 9/27/04 - continued

 


Everett School Employee Benefit Trust

Minutes of

September 27, 2004

Conference Room A

3:30 p.m.





Attendance

 





Trustees      Also Attending

John Morrill      Dottie Cainion

Betsy Selders      Darla VanDuren

Kay Nickel      Rene Boswell

Mike Gunn      Tom Pursley

Molly Ringo      

Sue McCann      Recorder

       Susan Sacha

 



I. Call to Order


 John Morrill called the meeting to order at 3:35 pm.
 
II. Adoption of Agenda


The agenda was amended to include part-time contribution.

 



III. Approval of Minutes


The minutes of the August 31, 2004 regular meeting were reviewed and approved as written.

 





IV.  Financials

The July and August financials were reviewed and discussed. Darla reported that July and August were good in overall dollars even though there were some high claims. When comparing August to September the trust is doing better with the overall fund balance.

 

Darla reported that several CDs came due. However, no new CDs were purchased because it was in the Trust’s best interest not to make any new purchases until claims leveled off.

 

Darla asked the trustees if they wanted Kurt Haldorson, Smith Barney financial consultant, to attend the next meeting. It was decided that he would attend the October 25th meeting along with Tom Pursley and Jill Mehner. Darla will provide Kurt with the date.

 





V.  Change in Trustee Matters

Amendment to Trust Agreement

On September 15, 2004 Jeff Riddle submitted his resignation as Board Trustee. To fill his vacancy the District appointed Mike Gunn. A motion was made, seconded and approved to add Mike to the Board of Trustees. An amendment reflecting the change in trustees was signed and added to the trust agreement.

 

Continue With Jeff as Signator of Zenith Run-Out Checks

Darla asked if the trustees wanted Jeff Riddle to continue signing for the Zenith run-out claims or appoint someone else. After discussion it was agreed that Jeff would continue in this role. A motion was made and approved to continue having Jeff sign checks for the Zenith run-out claims through the end of 2004.

 





VI.  Consultant, Follow-up regarding renewals for 2005.

Tom provided some additional information regarding the renewal (scenario 2a) and expressed concern regarding the higher contribution part-time employees would be paying. Currently part-time employees contribute the same as other employees plus whatever their partial FTE doesn’t generate. The more revenue the trust receives the higher the contribution requirements are for them. To offset this, Tom suggested offering a medical-only plan to help cut the costs for part-timers or to table making a decision on the medical-only option until some research had been done. After discussion, the trustees agreed to stay with the current formula. This issue, including medical-only, will be revisited when planning for 2005-06.

 





VII.  Subrogation Issue

Molly informed the group that at this time, Stoel Rives and HMA are responding to a subrogation issue on our behalf.

 





VIII.  Other

Dottie brought an appeal to the trustees. No action was taken because the service is not covered under the PPO plan and can’t be appealed.

 

It was decided to present Jeff Riddle with a gift certificate for dinner at the next meeting in honor of many his years of service to the Trust. He will be invited to attend the October 25th meeting.

 

IX.  Adjournment

 The meeting was adjourned at 4:30 p.m.

 

 

Sincerely,

 

 

Sue McCann

Secretary

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