Laserfiche WebLink
Minutes of the Regular Meeting of Council <br />Tuesday, January 18, 2011 <br />Page 14 <br />with kind of a mediocre yeax we were able to reduce that debt. Hopefully we will be on target. <br />We will discuss looking at those numbers again at Caucus. Thank you. <br />Roll Call: AYES: All Motion Carried <br />NAYS: None Financial Reports for December 2010 <br />Acknowledged and Approved <br />Motion to authorize the Finance Director to enter into an Agreement with Fidelity <br />to allow an additional deferred compensation plan to employees <br />Mr. Saponaro asked that "plan" be changed to "option". <br />Mr. Saponaro, seconded by Mr. Marrie, made a motion to authorize the Finance Director to enter <br />into an Agreement with Fidelity to allow an additional_ deferred compensation option to <br />employees. <br />I <br />Council President Buckholtz asked Mr. Wynne to explain this item. <br />Mr: Wynne explained, right now the Village offers several differerit options to employees to <br />defer compensation. One is through the State of Ohio. One is through Pacific Life. The third is <br />through VALIC. We have recently been approached by a financial services firm who represents Fidelity and their <br />entire family of funds that would allow another Qption for employees to consider and at the same <br />time this financial services firm will provide them with some guidance on how to invest their <br />funds and plan for their retirement. This is no cost to the Village at all. It's just providing our <br />employees another option to consider when looking to defer some of their compensation for <br />retirement. <br />1VIr. Saponaro added, this is also at the request of some employees, is that correct? <br />Mr. Wynne replied, yes, the gentleman that we are working with through Limeweaver Financial <br />Services is a former police officer for the Village. He has a lot of relationships here. There's a <br />trust factor in this individual. <br />Council President Buckholtz asked if there were any other questions or comments. There were <br />none. <br />Roll Call: AYES: All Motion Carried <br />NAYS: None Agreement Authorized <br /> <br /> <br />