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members felt they would be able to do so. Jay and Paul
agreed that they would make appropriate revisions to the
agenda and would assure that material be provided
earlier in advance to the Committee so they would have
sufficient time to review before the meeting.
15. Annual Approval of Reserve Policy Jay shared revisions of the Policy with the addition of
new funds allocated for educational costs based on a
Committee member’s request for additional training.
16. Review and Approval of 2019-2020 Budget Jay focused on revenue amounts ($90K) and expenses
with Financial Soundings, SST, Educational Training
(with the additional amount mentioned above) and
Insurance costs. The budget was approved by the
Committee
17. News and Views As time for the Committee meeting had expired, Paul
just asked Committee members to focus on the new
legislation (page 2 of News and Views) that would make
significant improvements to 457 (b) plans (elimination of
first-of-the-month rule, Roth modifications, Changes to
RMD dates, reduction of RMD penalties, etc.) as there
appeared to be bi-partisan support for these changes..
18. 2020 Committee Dates Paul indicated that draft 2020 dates for quarterly
meetings had been listed and asked Committee
members to review to see if there was any problem with
any of the dates.
The Committee adjourned at 12:07.
