IPERS IMPROVEMENT ASSOCIATION MEETING MINUTES
DECEMBER 13, 2023 @ 11:00 A.M.
SAINTS AVENUE CAFÉ, BOONE, IOWA
The meeting was called to order by President Bill Maas @ 11:02 A.M. Meeting present:
Bruce Hovden, John Deegan, Andrew Hennesy, Steve Williams, Bill Maas, Gary Jedlicka and Jean Keller.
APPROVAL OF THE AGENDA WITH FLEXIBILITY
Motion to Approve: John Deegan Seconded by: Bruce Hovden
All ayes; motion carried.
APPROVAL OF OCTOBER 18, 2023 BOARD MINUTES
Motion to Approve: Steve Williams Seconded by: Andrew Hennesy
All ayes; motion carried.
TREASURERS/MEMBERSHIP REPORT
Jean Keller stated the CD amount is $9,303.83. She was renewing the CD for another 8 months when she noticed the Federal ID number on the paperwork was incorrect as it was the old number. Steve Williams’s name is also on this account, so the bank contacted him for his signature along with Jean Keller’s. It took several weeks to get all of this cleared up. But during this time the interest rate increased. So instead of a rate of 5.25%, we will be receiving a rate of 5.35%.
Current paid memberships are 666. We need to get new memberships. The checking account currently has $3,805.90. Membership dues are getting ready to be mailed out sometime after the first of the year.
Motion to Approve the Report: Bruce Hovden Seconded by: Gary Jedlicka
All ayes; motion carried.
WEBSITE UPDATE
Linda Linn was absent from the meeting so there wasn’t a report on this. Questions asked though were; 1. Do we get much traffic and if so how much? 2. Do we need to make any changes to our Facebook page?
Bill Maas is going to do an article to be posted on either or both sites. The topic he’s going to report on is what other states retirement programs are and how IPERS compares.
MEMBERSHIP IDEAS
Trying to encourage our current membership to recruit at least one additional member. We’re working on putting together other ideas.
BAC COMMITTEE REPORT
Steve Williams stated this is the legislative year for IPERS review. The legislature has said there won’t be any changes coming. The Sheriffs and Deputies are a protected class and are currently 100% funded. The remainder of the fund is around 90% to being fully funded. The fund gained $65 million actuarially. It is estimated to be fully funded within 5 years at the current rate.
SET DATE FOR NEXT MEETING
Next meeting is set for April 10 @ 11:00 A.M. at the Saints Avenue Café in Boone, Iowa.
MOTION TO ADJOURN
Motion to adjourn: John Deegan Seconded by: Bruce Hovden
All ayes; motion carried.
Meeting adjourned at 11:45 A.M.
Submitted by,
Jean A. Keller
IIA Secretary/Treasurer