The Board of Trustees of the Galveston Wharves, in a special meeting held Thursday, received presentations on pension and savings plans for Port of Galveston employees. Listen (2:35:20)
“The reason for the meeting basically is to talk about the pension plans that the Port of Galveston has,” said Chairman Benny Holland. “I know we have a combination of plans… We like to know how many plans we have, who participates in this plan, how many people participate in them, how we audit them, and how we make sure everything is monitored.”
These plans include the Galveston Wharves Pension Plan – Defined Benefit Plan, the Galveston Wharves Pension Plan – Cash Balance Account, the Retirement Accumulation Plan for the Employees of the Galveston Wharves, the Galveston Wharves 2010 Plan, the Galveston Wharves 457 Deferred Compensation Plan, and the Galveston Wharves Roth IRA Plan.
The board listened to presentations made by representatives of Nyhart Actuary & Employee Benefits and ICMA-RC.
The board also discussed engineering, geotechnical, and inspection services for the East End Slip Fill Project.
The board did not take action on either item.
Mayor Jim Yarbrough was absent. Special Meeting Agenda