The Enid News and Eagle, Enid, OK

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July 28, 2009

PEGASYS board OKs pension plan change

By Robert Barron, Staff Writer

The PEGASYS board of directors approved a change in employee pension plans at its regular monthly meeting Tuesday.

The change limits the contribution by PEGASYS to 3 percent of the employee’s gross monthly salary. Under the previous 403(B) plan, the contribution was set at 6.5 percent. To compensate, salaries of employees currently participating in the simple IRA pension plan will be increased once by 3.5 percent. Those employees may contribute any amount up to $10,000 annually.

Wendy Quarles, executive director of PEGASYS, Enid’s public-access television station, said the change was recommended by accountant Robbie Bullis. He told the board the 403(b) plan is no longer suitable for nonprofits. The change to the simple IRA makes the plan better adaptable to a nonprofit organization, she said.

“The dollar-for-dollar amount remains the same because of the change in salary,” Quarles said.

In the executive director’s report, Quarles said the program Teens on Thursdays will be continued Aug. 6 due to its popularity among kids.

A program called Kites Over Enid has made PEGASYS the official videographer of the Sept. 10 event. Quarles said they are working to establish the ability to do Web streaming.

PEGASYS also is negotiating with Vance Air Force Base to do videos for the base.

She also discussed some computer program problems she has had with the new payroll system.

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