William Penn Life, 1968 (3. évfolyam, 1-12. szám)
1968-06-01 / 6-7. szám
Minutes of the Board of Directors Quarterly Meeting 14 Cleveland, Ohio BUCKEYE STATE WATCHTOWER Happy birthday to those born in July. Good territory the West Side on Brookpark, should bring in plenty of business. Congratulations to the Home Office for making this move. The president and vice-president are going to Europe this summer with their wives. Tony and Ann Pinter are going to Europe this summer. Adeline Sovoca is the daughter of one Wm. Penns great stalwarts, now deceased Dezső Reich. Béla Balogh bowler throws a round house hook. John Fritz Jr. is now married and he and his wife live in the State of Indiana. What happened to the card party for the bowlers of Br. 14? Captive Nations Week will be held the third week in July, climaxing this celebration will be a parade, singing and dances by all captive nations nationalities groups. This is truly a representative organization. Mr. Ralph Perk our County Auditor is president. Ex Animo Joseph J. Horvath 76 Philadelphia, Penna. Our meeting was held on May 11, 1968 and we were pleased to see some T Q m I I 1 Q r TUPAC SUMMER PLANS: Circle July 21st — and reserve that date — Sunday for our annual Picnic held at the Hungarian Club, 1125 Southampton Road, Phila, Pa. We will have good food, fabulous music, games for the children, teens and the “young-at-heart” — all for $1.00 admission starting at 12:00 noon. Don’t forget that date -— JULY 21st, 1968! Watch the next issue for our BANQUET NEWS! That’s all for now, folks. — See you at our PICNIC! Julie Melnick (Continued from last issue) 23. The following resolution regarding retirement of female employees at Age 62 is adopted: “It is resolved that the Pension By-Laws be amended, effective April 1, 1968 to provide full benefit payment to all female employees retiring at Age 62.” 24. Regarding severance pay it is resolved by the Board of Directors that all retiring employees be entitled to vacation for the year in which they retire and all retiring employees shall receive in addition to vacation (or vacation pay), in recognition of faithful service a “Severance Pay” based on the salary of the employee at time of severance as follows: Employees with 1 to 5years service 1 weeks pay 995 to 10 >> 99 2 » 99 9910 to 15 99 993 99 99 9915 to 20 99 994 99 99 9920 to 25 99 995 99 99 9925 or more ” 996 99 99 25. Complying with Point 13 of Monday, November 20, 1967 Minutes of the Board, the Board Committee makes its report at this time. The Board’s Committee met on three different occasions at the Home Office. National President Elmer Charles was elected Chairman of the Committee and Vice-President Julius J. Lenart was elected Secretary of the Committee. The Board Committee proceeds to read a comprehensive study and full report of its findings with regard to duties, work loads of each National Officer and his department. The Board Committee then evaluated these findings in order to make recommendations for salary adjustments for the National Officers. 26. The matter of National Officers’ Salaries is now open for discussion. All National Officers are excused from the Board Room while this matter is being discussed. 27. After considerable discussion and deliberation it was moved, seconded and adopted that retroactive to January 1, 1968 and for one year the salaries of: a. National President be $18,500.00 b. National Secretary be $17,000.00 c. National Controller be $16,000.00 d. National Treasurer be $15,000.00 e. Investment Manager be $15,000.00 f. Annual retainer of General Counsel to be $5,500.00 g. Annual remuneration of Medical Director be $7,500.00 h. Retainer of Consulting Actuary Robert E. Bruce to be $2,200.00 28. Discussion and deliberation now commences on the appointment of the Investment Manager. Question arises whether the Investment Manager can be appointed for one year. General Counsel, states that the Investment Manager can be appointed for a period of one year. It is resolved by the Board that Richard J. Phillips be appointed Investment Manager for a term of one year commencing January 1, 1968. 29. The Board considered the Convention directive relative to the reclassification of two Home Office employees, Gizella Dudrik and Elizabeth Hleba. It resolved that the class schedule and salary increments, as adopted by the March 1967 Board, remain unchanged. 10 # W'j
