Notice of Petition - "Compensation, Retirement Programs and Related Benefits" Nathan Richter PO Box 468 Hazen, ND 58545-0468
April 19, 2013
Barry F Mardock Deputy Director Office of Regulatory Policy, Farm Credit Administration 1501 Farm Credit Drive McLean, VA 22102-5090
Dear Mr. Mardock:
I'm writing this letter in opposition to the Farm Credit System (FCS) petition against giving a voice to their member owners (say on pay) and in support of the Farm Credit Administration's (FCA) final rule adopted last October.
I would recommend that the FCA make the final rule more stringent by requiring the vote to be binding upon the FCS institution if a final vote against such pay increases is agreed to by 60 percent of the voting members and that a vote by 50% of voting members be enough to be binding upon FCS CEOs.