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PLEASE POST UNTIL APRIL 20, 2003

To: Plan Participants

From: Bill Stefka, Administrator

Date: March 31, 2003

Re: Results Of Membership Vote To Increase Contributions By 2%

Dear Plan Participants:

The results of the vote by our active membership to increase their contributions by 2% are now in. The final vote was as follows:

  • YES: 342
  • NO: 313
The pension board realizes this was a very difficult decision for everyone concerned. All of your input and concerns expressed during the vote has been duly noted. The pension board would like to express their gratitude toward the membership for their assistance in maintaining the current benefits structure.

The pension board will discuss and certify these results at their next meeting in April. After this meeting we will have more information as to what the next step is toward implementation of this program, and this will be conveyed to the membership as well.

If you have any questions, please contact our office.

Sincerely,

William E. Stefka
Administrator

WES