1. Everett School Employee Benefit Trust
    1. Attendance
    2. Trustees   Also Attending
    3. Absent
    4. I. Call to Order
    5. III. Approval of Minutes
    6. IV. Financials
    7. V. Open Enrollment
    8. VI. Consultant Report
    9. VII. Appreciation


Everett Employees Benefit Trust

Minutes, 9/27/04 - continued

 


Everett School Employee Benefit Trust

Minutes of

October 25, 2004

Boardroom

3:35 p.m.





Attendance

 





Trustees      Also Attending

John Morrill      Dottie Cainion

Betsy Selders      Darla VanDuren

Kay Nickel      Rene Boswell

Mike Gunn      Kurt Haldorson

Molly Ringo      Jill Mehner





Absent

Sue McCann      

 



I. Call to Order


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


The agenda was adopted as presented.

 



III. Approval of Minutes


The minutes of the September 27, 2004 regular meeting were reviewed and approved as written.

 





IV.  Financials

Darla presented the Moss-Adams Auditor’s Report. She reported that this year went much soother and easier than last year. There was a change to the IBNR which resulted in a revised fund balance for this fiscal period. Claims seemed to have now stabilized.

 

A motion was made to approve the Moss-Adams Auditor’s Report. The motion was approved.

 

A motion was made to approve the revised financials for June, July, and August. The motion was approved.

 

 

Kurt Haldorson, Smith Barney financial consultant, provided a chart of Bond Maturity. He will be trying to even out maturity amounts, in future years, as CDs come due. It is currently a challenge to find good short term fixed income. The money market, non-profit account will use and insured deposit program to make sure that it is totally insured.

 



V. Open Enrollment


Molly passed out the revised version of the rate schedule. It also included Short Term Disability Rates. This enrollment period is going well.

 

 





VI.  Consultant Report

Jill said that Mercer will send a final revision for the Trust.Currently part-time employees contribute the same as other employees plus whatever their partial FTE doesn’t generate. Jill discussed examples of scenarios that would offer different rates and/or coverage. She suggested that we begin to look at the formula we would like to use soon since this is a decision that will require a great deal of time and thought. Betsy suggested we wait until after Open Enrollment

 

 



VII. Appreciation


John presented Jeff with a card and gift certificate to show our appreciation for his twenty years of service to the Trust. Trustees discussed his valuable input and wealth of knowledge.

 

 

VIII..  Adjournment

 The meeting was adjourned at 5:30 p.m.

 

 

Sincerely,

 

 

Kay Nickel

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