William Penn Life, 1972 (7. évfolyam, 1-4. szám)

1972-10-01 / 4. szám

Committee and National Officers pledged allegiance to the flag of the United States of America. Reverend Director Andrew P. Jacobs offered the invocation.

4. Auditing Committee Chairman, László Kereszti, addressed the Board on behalf of the Auditing Committee. He thanked the Board for the opportunity to be present at the opening exercises of the Board. He stated the Auditing Committee consists of many new members, but felt they will serve the Association well. He offered to the Board of Directors best wishes for a most successful meeting.

5. Secretary of the Board, Frank J. Radvany, calls the roll and the following are present: Elmer Charles, National President; Louis L. Varga and John P. Balia, Vice Presidents; Directors, Frank Bero, Zoltán B. Emri, Michael Hegedűs. Rev. Andrew P. Jacobs, Albert G. Kertesz, Stephen Lang, Jr., Frank J. Radvany, John Sabo, Joseph Toma, John Veszprémi, Jr., Frank J. Wukovits, Sr.; Albert J. Stelkovics, National Secretary; Julius E. Somogyi, National Treasurer; Gay B. Banes, General Counsel; and Dr. Samuel C. Gomory, Medical Director. Director William C. Kohut was absent due to illness.

6. The Agenda is presented to the Board and same is adopted with the proviso that any matter properly belonging before the meeting may be added thereto during the course of the meeting.

7. National president Mr. Charles presented a check to the William Penn Scholarship Foundation in memory of Director Dr. Andrew Kovács. Any of the Board Members desirous of contributing to the memory of Dr. Kovács are to turn their check over to the Treasurer of the Foundation .

8. The Board commenced a page by

“Hey Pop . . . some guy out here wants me to go to college. .

page review and discussion of the Report of the National President to the Board of Directors dated September 11, 1972. It contained such items as Home Office Administration, Employees Fringe Benefits, Financial Statistics, Mortgage Loans, Purchase and Sale of Bonds, Computer Operations and Field Operation. It was with pleasure that he reported the change of name was finally approved and recorded. Effective July 13, 1972 we are now legally known as the WILLIAM PENN ASSOCIATION.

General Counsel Gay B. Banes fully discussed the progress being made since the last Board meeting with reference to the American Fund program and the Building program.

9. Dr. Samuel C. Gomory, Medical Director, submitted his report. The Board acknowledged the report of the Medical Director with sincere appreciation and ordered same to be placed in file.

10. Andrew R. Balogh, Field Manager (East), read his report pertaining to the Field Operation in his area. A lengthy review and discussion ensued upon this subject with the Board Members posing various questions to Mr. Balogh.

11. Gus G. Nagy, Field Manager (Central), also read his report pertaining to the Field Operation in his area. A lengthy discussion also followed his report. Following the discussion of the two reports, the Board acknowledged the reports of Mr. Balogh and Mr. Nagy and requested same be placed in file.

12. Moved, seconded and the Board unanimously approved the following resolution pertaining to agents debit balances.

RESOLVED by the Board of Directors in regular quarterly meeting assembled, that the National President be authorized to negotiate individually with each present or former agent who has a debit balance as to the best way to liquidate the debit balance.

BE IT FURTHER RESOLVED, that the National President and General Counsel be empowered to take whatever legal action necessary against those agents or former agents who are uncooperative in liquidating their debit balances.

13. Moved, seconded and the Board accepted the Report of the President to the Board of Directors dated September 11, 1972 in its entirety.

14. Moved, seconded and the Board authorized that the Executive Committee review the entire field operation and submit its recommendation to the forthcoming Board meeting in December.

15. Director Lang and Director Radvany, co-administrators for the 29th National Bowling Tournament held in Philadelphia, submitted their final accounting for this year’s tournament. The Board accepted their report with sincere gratitude for a job well done and requested same be placed in file.

16. Moved, seconded and the Board approved the following resolution pertaining to Retirees Pension Increase.

RESOLUTION

WHEREAS, the Convention did request the Board of Directors to review the possibility of increasing the pension benefits of those who have retired after January 1, 1957 and prior to January 1, 1969, and

WHEREAS, the Board of Directors requested from Mr. Robert E. Bruce, Actuary, proposals as to how this could be accomplished for those who retired after January 1, 1957 and prior to January 1, 1969, and

WHEREAS, Mr. Bruce furnished three recommendations as to how this could be accomplished, and

WHEREAS, the Board of Directors, after studying each recommendation, found proposal No. 3 of the actuary’s June 10, 1972 letter to be most equitable and feasible, because this proposal recalculated the pension benefits for the eight retirees as if they had been granted under the revised by-laws with respect to the determination of the period of credited service.

NOW, THEREFORE, BE AND IT IS HEREBY RESOLVED by the Board of Directors in regular quarterly meeting assembled, that effective October 1. 1972, the pension benefits be increased for the following: C. Bertalan, F. Cher, M. Evans, J. Fulop, A. Green, J. Hegedűs, P. Petruska, M. Beres.

BE IT FURTHER RESOLVED, that the Association increase the pension plan reserves by the sum required to fully fund the increased benefits of the foregoing eight retirees.

17. Moved, seconded and the Board authorized the following resolution pertaining to Children’s Christmas Parties.

RESOLUTION

IT IS RESOLVED by the Board of Directors that the Association’s Treasury subsidize the 1972 Children’s Christmas Parties, as follows:

a) Branches holding Christmas Parties be entitled to one dollar and twenty five cents per juvenile members between the ages of 0 to 15.

b) The Home Office Treasury contribution not to exceed the following amounts for juvenile members:

From 10 to 50 — maximum . $ 62.50

From 51 to 100 — maximum . . $125.00

From 101 to 150 — maximum . 187.50

From 151 to 200 — maximum . $250.00

c) Branches to properly account to the Home Office, on forms furnished for this purpose, of all funds expended.

d) Home Office to furnish to Branches printed invitations and Carol Books.

e) Branches desiring write-ups of the Christmas Party in William Penn Life are to submit the articles together with any black and white photos to be published