University of Virginia Library

COMPTROLLER'S SUPPLEMENTARY RETIREMENT ANNUITY

The Board at its meeting on 20 April 1963 adopted a resolution establishing a supplemental retirement annuity plan for the Comptroller, Mr. Vincent Shea, following his retirement under University regulations at the age of 65. This resolution provided that the monies for this purpose were to be paid from endowment funds of the University. By action of the Board at its meeting on 16 October 1964, the annuity plan was terminated effective 31 August 1964. At its meeting on 7 June 1968 the Board instructed the Finance Committee to review retirement benefits for the Comptroller and to submit its recommendations to the Board. The Finance Committee at its meeting on 2 October 1968 unanimously recommended restoring the retirement annuity plan for the Comptroller originally established by the Board on 20 April 1963. After discussion, the following resolution was adopted:

• RESOLVED by The Rector and Visitors of the University of Virginia that the supplemental retirement annuity plan for the Comptroller, Mr. Vincent Shea, as set forth in a resolution of the Board at its meeting on 20 April 1963 is hereby re-enacted, effective 1 July 1968; such plan, as amended by the effective date, being incorporated in the minutes of this meeting by reference to the Board's resolution of 20 April 1963.