HomeMy WebLinkAbout1995-07-13 POPB MINUTES'
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POLICE PENSION BOARD MEETING
July 13 , 1995
A regular meeting of the Englewood Police Pension Board was called to order by
Chairperson Norm Wood, at 1 :45 p .m. in Conference Room A of the City of Englewood
City Hall , 3400 South Elati Street.
Members Present:
Members Absent:
Others Present:
Norm Wood, Chairperson
James Phelps, Council Appointee
Frank Gryglewicz, Director of Financial Services
Gary Condreay, Employee Representative
Tom Burns , Mayor
Steven Knoll , Employee Representative
Dan Brotzman, City Attorney
Don Mazanec, William M . Mercer, Inc .
Carol Wescoat, Recording Secretary
A quorum was present.
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Approval of Minutes
MR GRYGLEWICZ MOVED TO APPROVE THE MINUTES OF THE TELEPHONE
POLL OF APRIL 25 , 1995 ; REGULAR MEETING OF APRIL 27 , 1995 ; THE JOINT
BOARD MEETING OF MAY 17 , 1995 AND JUNE 21, 1995 ; MARCH 1, 1995 ; AND
APRIL 4 , 19 9 5 . MR . PHELPS SECONDED WITH A CORRECTION TO PAGE
THREE OF THE APRIL 27, 1995 MINUTES . THE CORRECTION BEING DELETE
THE WORD "THE" BEFORE "PROCEEDING" IN THE SECTION TO TABLE
ISSUE RELATED TO IRS LETTERS OF DETERMINATION.
Aye s :
Nay s :
Absent:
The motion carried .
Wood , Phelps , Condreay, Gryglewicz
None
Burns, Knoll
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OLD BUSINESS
Report on recovery of 20% Supplemental Disability Benefit from the Beneficiary of Grady
Brackeen
The matter was assigned to a private collection agency . Financial Services has recently
received a notice that Mrs. Tague has denied responsibility for the debt. Additional
documentation will be sent to the agency .
NEW BUSINESS
Notification of retirement benefit request by Frank Lawler .
Chairperson Wood stated Frank Lawler requested retirement benefit effective as of
August 3, 1995 . Officer Lawler will attain age 55 on August 2, 1995 . Chairperson Wood
requested that Officer Lawler's date of birth be verified prior to approving the request.
Board notification of spousal benefit verification.
The board members reviewed the list of individuals receiving spousal benefits. The board
agreed to require a notary 's verification of the signature on the information request form.
Colorado Public Pension Conference
The board reviewed the information on the Colorado Public Pension Conference .
MR. GR YGLEWICZ MOVED TO APPROVE EXPENSES FOR A MAXIMUM OF TWO
BOARD MEMBERS TO ATTEND THE COLORADO PUBLIC PENSION
CONFERENCE . MR.CONDREAYSECONDED.
Ayes :
Nays :
Absent :
The motion carried .
Wood , Phelps, Condreay, Gryglewicz
None
Burns, Knoll
Report of refund from EFI
Ms. Wescoat reported a refund of $50 was credited against the Police Officers Pension
Fund 's share of expenses to the Public Retirees Conference. A total of $200 was received
after Ms . Wescoat had contacted EFI regarding her disappointment with a workshop that
was paid with an extra fee .
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Actuarial valuation presentation by William M . Mercer Inc .
Mr. Mazanec reviewed the valuation . The contribution level recommended is 37 .9%
MR. PHELPS MOVED TO ACCEPT WILLIAM M . :MERCER, INC.'S, JANUARY 1,
1995 POLICE OFFICERS PENSION ACTUARIAL VALUATION. MR. GRYGLEWICZ
SECONDED .
Ayes :
Nays :
Absent:
The motion carried .
:MEMBERS CHOICE
Wood, Phelps, Condreay, Gryglewicz
None
Burns, Knoll
Mr. Phelps questioned the affirmation of The Boston Company's active management of
pension funds. Mr. Gryglewicz stated that we do not receive confirmations of
transactions or details of portfolio management activities . However, his conversations
with The Boston Company indicate continued interest in retaining the pensions funds , and
their interest in performing at an appropriate level.
MR. PHELPS MOVED TO ADJOURN . MR. GRYGLEWICZ SECONDED .
Ayes :
Nays :
Absent:
The motion carried .
Wood, Phelps, Condreay, Gryglewicz
None
Burns, Knoll
The meeting adjourned at 2 :30 p .m.
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Carol Wescoat
Recording Secretary
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