1965-04-05 Board of E&RI
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Minutes of the Meeting April 5, i965 Continued
RECESS -
Mr. Hall then offered a motion that the Board recess to meet again at 4:(
P. M. on Monday, April 12th, 1965 to finish the business before the Board and trans~
any other business that might properly comefore it. It was seconded by Mr. Braak ~
unanimously approved.
BOARD OF EQUALI2ATION AND REVIEW
April 5, 1965 7:15 P• N.
APPROVAL OF MINUTES
The Chairman then reconvened the Board of Equalization and Review as recessed
on March ~lst. Copies of the minutes of that meeting, having been sent to each member of
the Board, were unanimously approved upon motion of Mr. Vaughan and seconded by Mr.
Bowden.
TAX COMPLAINT -
The Tax Supervisor reminded the Board that they had recessed as a Board of
Equalization and Review when they had completed their business on March 31st, 1965
and that no new business had developed since that time. He reported that he and the
Property Appraisor had made a personal inspection of the house at 309 Ann St., owned by
,1. Robert Sneeden, and could not find any evidence of vandalism or legal grounds for any
reduction in the present assessment. The Board unanimously agreed to make no change.
ADJOURNMENT -
After the Board determined that their work for the cur ent year was completed,
Mr. Hall moved the adjournment of the Board of Equaliza n~view. It was secondec~~
by Mr. Vauyhan and unanimously carried. /~]~ ~ ~
W. G. Houck, Tax Supervisor
RECESSED ~EETING
April 12, 1965 !}:00 P. N.
REC,ONVENTION -
The regular meeting of the Board of County Commissioners resumed its delibera-
tions in accordance with the recessed meeting on April 5th with the following members
present: Chairman, Dr. Jos. W. Hooper, Jr., Commissioners M. N. Vaughan, Laurence 0.
Bowden, Peter H. Braak and J. M. Hall, Jr., County Attorr.ey L. Bradford Tillery and
County Auditor T. D. Love, ,ir. The meeting was reconvened by the Vice Chairman, M.H.
Vaughan, in the absence of the Chairman, who was detained for a short period.
IA~VOCATION -
The meeting was called to order by Actiny Chairman Vaughan, who asked the
Executive Secretary to open the meeting with a prayer for guidance.
RETIREMENT SYSTEM -
Compiying with authori2ation of the Board, the Executive Secretary had arranged.
to have Mr. Nathan H. Yelton, Executive Secretary of the State Loca.l Governmental Employee>'
Retirement System, meet with the Board in order to explain the details necessary for a ~
county to have its employees participate in the State system. Briefly, he advised that
the County employees can participate in the State system provided 600 of those not partici~-
pating in the County retirement system vote to accept it. The employees would pay 4% of
the first $lE80o.00 income and 6% on all over $4800.00. If Social Security should change
their mAximum to $5600.00 then the retirenient system would likewise raise their maximum.
It would not be necessary for the County to pay its portion in a lump sum in order to give
credit for past service to the employees but it would be worked out on a percentage of
payroll basis. At present, it would be necessary to have leyislative action in order to
enable the County to participate either in the State Local Governmental Employees Retire-
ment System or to reopen the County's system. The County Attorney said he understands
that the closing time for introducing Local Bills in the present General Assembly is May
lst and suggested that if the Board desires to participate in a retirement plan, immed-
iate action should be talcen. After questioning Nr. Yelton about the details and satisfy-
ino`chemselves that a permissive act of the Legislature would not make it mandatory, Mr.
Hall offered a motion that the County Attorney seek legislation designed to include New
Hanover County in the provisions of North Carolina General Statutes 128-21 to 38 having
to do with the "North Carolina Local Governmental Employees' Retirement System". It
was seconded by Mr. Braak and unanimously adopted.
AL'TERNATE PLAN DISCUSSION
Mr. Meares Harrsiss, Jr., representing the Corporate Benefits planning Com-
pany, was recogn32ed by the Chairman and stated that he was here in connection with any
service he might render in~. "-r ',• developing an acceptable pian for County
employee retirement. Mr. yelton, in his remarks with reference to the Local Governmenta
Employees~ Retirement System, said that they would undertake an actuarial analysis of the
present County retirement system at a cost of $2.50 per employee. Mr. Harriss stated
that he would undertake to make the actuarial analysis at no cost to the County provided
it was understood that ',he be appointed Agent of Record and Consultant in behalf of the
County. He further added that the New England Life insurance Company had agreed to pro- ~
vide, through its home office facilities, valuable data and computing service provided
if any additional computations arise which involve costs, it be entered into on a mutually
continued-