HomeMy WebLinkAbout2012-08-09 POPB MINUTES•
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POLICE P ENSION BOARD MEETING
August 9 , 2012
The regular meeting of the Englewood Police Pension Board was called to order by Chairperson
Norm Wood , at 3:05 p .m . in the Public Works Conference Room , Civic Center, 1000 Englewood
Parkway.
Members Present:
Members Absent:
Others Present:
A quorum was present.
Norm Wood , Chairperson
Gary Condreay, Employee Representative
George Egri , Employee Representative
Frank Gryglewicz, Director of Finance and Administrative Services
Randy Penn , Mayor
James Phelps, Council Appointee
None
Daniel Brotzman, City Attorney
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Approval of February 9, 2012 Meeting Minutes .
MR. GRYGLEWICZ MOVED TO APPROVE THE MINUTES OF THE REGULAR MEETING OF
FEBRUARY 9 , 2012. MR. PHELPS SECONDED.
Ayes :
Nays:
Absent:
The motion carried.
Condreay, Egri , Gryglewicz, Penn , Phelps , Wood
None
None
Review ofFPPA Plan Statements.
The Board reviewed the quarterly statements from the Fire and Police Pension Association (FPPA).
Review of the January l, 2012 Actuarial Report
Mr. Gryglewicz reviewed the January 1, 2012 Actuarial Report. The annual required contribution for
2013 and 2014 is $442 , 700. This is up from $340 ,010 for the years 2011 and 2012 .
Mr. Gryglewicz noted that the actuarial assumptions for all of the FPPA affiliated plans were lowered
from eight percent to seven and one-hal f percent. It was also noted that the amortization period mu st
be no longer than the average life expectancy of the members or twenty years beginning in 2010 . The
2012 report indicates that the amortization period is eighteen years .
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MR. GRYGLEWICZ MOVED TO ACCEPT THE JANUARY 1, 2012 ACTUARIAL REPORT .
MR. PHELPS SECONDED .
Ayes :
Nays:
Absent:
The motion carried.
Condreay, Egri, Gryglewicz, Penn , Phelps , Wood
None
None
Consideration of Cancelling the November Meeting Making the Next Meeting February 14, 2013
The next regular meeting is scheduled for November 2012, if needed ; otherwise, the Board will not
meet again until February 14, 2013.
Member's Choice
The Board discussed the vacant employee elected Board member. Ms . Wescoat will take the
necessary steps to fill the Board member's term expiring December 31 , 2012.
MR. PHELPS MOVED TO ADJOURN. CHAIRPERSON WOOD SECONDED.
Ayes:
Nays:
Absent:
The motion carried
Condreay, Egri, Gryglewicz, Penn , Phelps, Wood
None
None
The meeting adjourned at 3 :2 6 p .m.
~el 0euCHJ±
Caro 1 W escoat
Recording Secretary
Police Officers Pension Board
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