William Penn Life, 1968 (3. évfolyam, 1-12. szám)

1968-06-01 / 6-7. szám

30. In connection with the Wage Plan, the following resolution is adopted: “It is resolved that effective April 1, 1968 Home Office Employees’ salaries be increased by ONE step-rate in all job levels where the maximum has not been reached.

The Board next takes up the matter of salaries of the Supervisors of Agencies. Directors Toma and Wukovits are excused from the meeting, while this matter is discussed. After a lengthy discussion it was moved, seconded and adopted that Supervisors of Agencies Joseph Toma, Frank J. Wukovits, Sr. and Gus G. Nagy be paid a salary of $12,000.00 for one year, retroactive to January 1, 1968.

The Board deems it necessary to establish the rank of our Corporate Officers. The Chief Executive Officer is the National President. Because the Association does not have full-time Vice Presidents, in the absence of the National President, the National Secretary will carry on the functions of the Association. In the absence of the National President and National Secretary, the National Controller shall act. All matters relating to the Corporate functions of the Association must be cleared through the National President, for final decision.

31. It is resolved by the Board to recommend to the next National Convention of the Association, that the corporate operations of our Association be carried on by not more than four corporate Officers, whether elected or appointed.

32. It was moved, seconded and adopted that the Board accept the Board Committee’s report in its entirety, and the same is attached to and made a part of these Minutes.

33. Investment Manager, Richard J. Phillips requested permission to speak to the Board. He stated he has served the Association faithfully for more than 25 years in various capacities. He has always appreciated the opportunity to work for our Association and feels he has contributed greatly to the success which the Association has enjoyed. Mr. Phillips stated he would abide by the will of the Convention and accept a reappointment for a period of four years. He further stated he could not accept the one year appointment, as adopted by the Board, and unless this is changed to four years, he would have no alternative but to submit his resignation to be effective June 1, 1968.

34. The Board discussed the remarks of Investment Manager Richard J. Phillips. The Board is of the opinion that since all other appointments were made for a period of one year, they shall remain consistent with all their appointments.

It was moved and seconded, that the Board rescind the appointment of Investment Manager Richard J. Phillips

for 1 year, and change same to 4 years. This motion was defeated by the Board.

35. General Counsel Gay B. Banes reads his report and same is accepted as read. Mr. Banes was congratulated for having had the honor to serve as Delegate to the Pennsylvania Constitutional Convention which met in Harrisburg, Pa. from December 1, 1967 to February 29, 1968.

36. National President Elmer Charles elaborates on the decision of the Courts with reference to the AMERICAN FUND. National President reports further that on March 7, 1968, he together with General Counsel Banes and National Secretary Stelkovics discussed the AMERICAN FUND matter with officials of the Pennsylvania Insurance Department in Harrisburg, Pa. It was the request of the Department that they be furnished with a copy of the Appeal being filed by Attorney Knepper in this case.

In response to a direct question, General Counsel Banes stated that the expense of such Appeal would be approximately $2,500.00. After considerable discussion, the Board of Directors resolved that the Association should follow through in the matter of the AMERICAN FUND, and authorizes General Counsel Banes to file an Appeal, through Mr. Knepper, with the next highest Court.

37. It was then moved, seconded and adopted that the President’s report now be accepted in its entirety.

38. In connection with the Children’s Christmas Parties, the following resolution is adopted:

RESOLUTION

Based on authority granted by the National Convention, it is resolved by the Board of Directors in regular quarterly meeting assembled in Pittsburgh, Pa. this 13th day of March 1968, that the Treasury of the Association subsidize the Branches’ Children’s Christ mas Parties in 1968, on the following basis:

(1) Branches which hold a Children’s Christmas Party shall be entitled to Home Office contribution based on the following schedule:

From Juvenile

10 to 50 Members—Maximum $ 50.00 51 to 100 ” ” 100.00

101 to 150 ” ” 150.00

151 to 200 & Over ” 200.00

(2) Branches shall be required to

account for the Funds Expended on

forms provided for this purpose by the Home Office.

(3) The Association will provide Carol books and printed invitations to those Branches which request same on forms provided by the Home Office.

39. The Board acknowledges the letter from Branch 275, Milwaukee, Wis. but regrets it cannot comply with their request for sponsoring Soccer Teams.

40. The Board acknowledges the letter

from Branch 525, Los Angeles, Calif, but regrets that it cannot comply with their request. With regard to the matter of transferring members residing in the Los Angeles area to Branch 525, the Board decides that this will be done when feasible for the Home Office.

41. The Board of Directors authorizes donation of $50.00 each to Educational Television Station WQED, Pittsburgh, Pa. and the Pittsburgh Chapter of JUNIOR ACHIEVEMENT PROGRAM.

42. The Board adopts the following resolution pertaining to independent contractors:

WHEREAS, part-time Agents or Branch Managers are not employees- of the Association, and

WHEREAS, it is a general practice to consider such representatives as independent contractors,

NOW, THEREFORE, BE IT RESOLVED that the Association shall not withhold taxes upon affiliation, but will report compensation paid to them on Form 1099 to Internal Revenue Service.

BE IT FURTHER RESOLVED that the new method of reporting be retroactive to January 1, 1968.

43. The Board adopts the following resolution dealing with Vested Commissions :

BE IT RESOLVED that all Commissions payable to Part or Full-time Representatives be vested, for business issued since January 1, 1968, to all Agents under contract with the Association, provided that the total payment due each month is not less than $5.00.

44. The Board adopts the following resolution with respect to Dividends for the calendar year 1968:

RESOLUTION

IT IS HEREBY RESOLVED by the Board of Directors in regular qaurterly meeting assembled in Pittsburgh, Pennsylvania this 13th day of March 1968, that Dividends for the calendar year 1968, be continued on the same basis as was in effect during the calendar year 1967.

45. The Board adopts the following resolution pertaining to Lapsed or Extended certificates:

RESOLUTION

WHEREAS, the Association is desirous of reinstating as many Lapsed or Extended certificates as possible, and

WHEREAS, the present rule requires payment of interest on arrears over 12 months, and

WHEREAS, the time limit for reinstatements has been abolished by the Convention,

NOW, THEREFORE, BE AND IT IS HEREBY RESOLVED by the Board of Directors in regular meeting assembled in Pittsburgh, Pa. this 13th day of March 1968, that effective immediately, those who seek reinstatement within 3 years from date of Lapse or Extended be permitted to repay in one sum all premiums owed without interest charge.

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