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1 3 7 A t the Board meeting o f November 15/ 1954, the question of a retirement plan Was discussed. It was believed at that time that the District was eligible for coverage under the State Public Employees Retirement system and a decision was made.to obtain this coverage. However, a review of earlier correspondence between Secretary M ille r and State officials raised some doubt as to the District's eligibility and further correspon­dence confirmed that the District was not e lig ib le . O n December 14, 1954, the Board decided to try to obtain legislation to make the District e lig ib le , and a committee of Directors agreed to prepare an amendment to the existing statutes for presentation to the Legislature at the 1955 session. However, emphasis was on an amendment to the District A c t to remove any doubt as to legality of meters and nothing was submitted relative to retirement, although it was discussed again on January 4th and 27th, 1955. During the summer of 1956, pleats for supplementing Social Security benefits with some sort of group annuity plan arranged through a private insurance company was investigated by the Manager and a plan worked out by the Aetna Life Insurance Company presented to the Board on November 7, 1956. N o action was taken at this tim e. O n January 22, 1957, the matter was again discussed and referred to counsel to determine what legisla­tion would be necessary to make the District eligible for the State system. O n February 5, 1957, a proposed amendment to th# State Retirement A ct was submitted by.counsel and a committee of the Board of Directors agreed to submit it to the Clark County Delegation for introduction at the session of the Legislature then in progress. However, the amend­ment was not introduced. As a result of further discussion on April 23, 1957, the Manager was instructed to prepare a memorandum on the subject. Under date of May 20, 1957, the Manager submitted a memorandum analyzing various group annuity plans for supplementing Social Security and recommended that immediate steps be taken to obtain the Social Security coverage while the supplemental plan was being worked out. This was approved and a meeting scheduled with insurance, agents on June 25, 1957 for discussion of the method to be used in selecting an agent to handle the matter. N o action was taken at this meeting, a decision being deferred until a full Board could be present. Social Security coverage was obtained Ju ly 1, 1957. O n August 7, 1957, the discussion which took place at the June 25th meeting was out­lined for the benefit of the members not present at that time and, pursuant to a suggestion previously made by President Ullom , it was decided to employ Jerry Block as an independent actuary to work out a plan. O n December 3, 1957, M r. Block submitted and explained a preliminary report to the Board. M r. Block recommended obtaining quotations directly from insurance companies on the various factors used in computing premiums, from which he could determine which company would be best from the standpoint of cost, and then working out the exact details of the coverage offer the company had been selected. This was approved. The necessary information was obtained and a written report by M r. Block distributed to the Directors on May 22, 1958. ft was placed on the c^enda for consideration at the meetings of June 3, 1958 and Ju ly 1, 1958, but was put o ve r. O n July. 8, 1958, the President noted that the reason for retaining M r. Block .to study the matter was that it was thought the District was not eligible for the State plan. However, he was not entirely