!!?? GRF Discretionary Bonus ??!!

We have passed through a tremultuous period over the past 3 years trying to determine if there was, or, was not, a hidden Incentive Bonus Plan administered by the Managing Agent without Board knowledge or formal approval. It has been acknowledged by many past and present Board Members that they had no knowledge of the payments made to PCM employees under this plan.

The Incentive Bonus Plan was discontinued by the PCM General Manager as a result of action by the Third Treasurer, Dr. John Paulus, and most Residents and Directors were made aware of the payments when GRF published detail for the years 2000-2007, and was made available to everyone as a chapter in the Residents Voice "Yellow Book."

It was also assumed by many Residents and Directors that all past and present employee bonus payment plans had been made public, and any future plans of this nature would be formally authorized by the housing mutual boards.

That was Yesterday, November 29, 2010.

Today, November 30, 2010, Residents Voice is asking for your help. We are attempting to follow up on the validity of the information below, that was left on our doorstep. If you have any information on this subject and can share it with Residents Voice, please contact me, Connie, at (949) 683-6923.

GRF Discretionary Bonus Payments
Board Report

Year
2006
2007
2008
2009
2010
Total
$ 55,690
$ 23,476
$ 26,190
$ 180,786
$ 127,831

 

 
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