Here are the minutes of the March 14 EC meeting. Officers and Directors received an advance copy earlier. Further distribution was embargoed until staff could be advised of the change in employee benefits mentioned at Minute 9.3. The change is that effective June 1, we are shifting from a defined benefit pension plan to a defined contribution plan. The change was recommended by the Pension Subcommittee of the A&F Committee, accepted by the A&F Committee, and sent by the Executive Committee to the Board for mail vote. Prior to the mail vote there was an informational briefing of the Directors by teleconference on April 8. The Board voted to approve the change and it was communicated to staff yesterday and today. David Sumner, K1ZZ Secretary <<ecmin487.doc>>