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BOOK i0ig PAUGE 1. Participant has control over the type of investment, i.e., aggressive, moderate, fixed rate, etc. The health insurance subsidy* is not paid for participants in this program. The decision to withdraw from the FRS and participate in an annuity program is irrevocable for as long as the employee holds a position eligible for the annuity. *Most retirees who have health insurance coverage are eligible for a monthly supplemental payment to help pay for their insurance. The amount of the subsidy is based on service credit at retirement with a minimum monthly subsidy of $50 and a maximum of $150. Commissioner Adams was not in favor of and recommended against making this change at this time citing the over 20% cut in our general revenue sharing by the State of Florida. It only affects two contract employees and she thought the retirement package at this time is good. Commissioner Ginn concurred for the same reasons. She pointed out that there is an additional 7.6% difference in the employer's contribution and thought the upcoming fiscal year budget would be very tight. Because a new Executive Aide was coming on board, Commissioner Stanbridge thought the matter should be considered at another time. ON MOTION by Commissioner Adams, SECONDED BY Commissioner Ginn, the Board unanimously did not add the County Attorney and Executive Aide to the Board to the Senior Management Service Class under the Florida Retirement System. 11.G.1. DEVELOPER'S AGREEMENT - IMPROVEMENTS TO 53RD STREET AND US#1- LONE CABBAGE TRADING COMPANY - WELTON CONVENIENCE STORE The Board reviewed a Memorandum of April 20, 1999: TO: James E. Chandler, County Administrator FROM: James W. Davis, P.E 6 Public Works Director SUBJECT: Developer's Agreement for Improvements to 53rd Street and US1 DATE: April 20, 1999 APRIL 27, 1999 26 L