HomeMy WebLinkAbout1996-01-11 POPB MINUTES••
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POLICE PENSION BOARD MEETING
January 11 , 1996
A regular meeting of the Englewood Police Pension Board was called to order by Chairperson
Norm Wood , at I :35 p .m . in Conference Room A of t he City of Englewood City Hall, 3400
South Elati Street.
Members Present :
Members Absent :
Others Present:
A quorum was present.
Seating of Board Member
Norm Wood, Chairperson
James Phelps, Council Appointee
Frank Gryglewicz, Director of Financial Services
Gary Condreay, Employee Representative
Ralph "Rick" Forbes, Employee Representative
Tom Bums, Mayor
Dan Brotzman, City Attorney
Don Mazanec, William M . Mercer Co ., Inc .
Carol Wescoat, Recording Secretary
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Chairperson Wood welcomed Ralph "Rick" Forbes as the newly elected board member.
Chairperson Wood resigned as chairperson and requested a volunteer to serve as chairperson .
Discussion followed regarding any potential issues of 1996 . Mr. Wood stated because of the
lack of issues , he would be will ing to reconsider his position.
MR. PHELPS NOMINATED NORM WOOD AS CHAIRPERSON. MR. GRYGLEWICZ
SECONDED .
Ayes :
Nays :
Absent :
The motion carried .
Approval of Minutes
Wood , Phelps, Condreay, Gryglewicz, Forbes
None
Bums
MR. PHELPS MOVED TO APPROVE THE MINUTES OF THE REGULAR MEETING
OF OCTOBER 19, 1995 . MR GRYGLEWICZ SECONDED .
Ayes :
Nays :
Absent :
The motion carried .
OLD BUSINESS
Wood, Phelps, Condreay, Gryglewicz, Forbes
None
Bums
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Review of Dodge & Cox transactions
Mr. Gryglewicz reviewed the Dodge and Cox transactions . Discussion followed related to the
reporting of transactions . Ms. Wescoat explained the confusion regarding the management
services provided by Dodge & Cox .
MR. PHELPS MOVED TO APPROVE THE DODGE & COX INVESTMENT
MANAGEMENT AGREEMENT WITH THE AMENDMENTS RECOMMENDED BY
THE CITY ATTORNEY. MR. GRYGLEWICZ SECONDED .
Ayes :
Nays :
Absent:
The motion carried .
Wood , Phelps, Condreay, Gryglewicz, Forbes
None
Bums
Discussion of Custodial Bank Services and Dodge & Cox Management
Discussion followed regarding the need of a custodial bank and the potential service fees.
MR. PHELPS MOVED TO APPROVE NORWEST BANK AS CUSTODIAL BANK . MR.
GRYGLEWICZSECONDED.
Ayes :
Nays :
Absent :
The motion carried .
Wood, Phelps, Condreay, Gryglewicz, Forbes
None
Bums
MR. GRYGLEWICZ MOVED TO APPROVE THE REVISED INVESTMENT POLICY.
MR. PHELPS SECONDED.
Ayes :
Nays :
Absent:
Wood, Phelps , Condreay, Gryglewicz, Forbes
None
Bums
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The motion carried .
Investment Consulting Services
Mr. Gryglewicz reviewed the 1996 investment consulting fee proposal letter from William
Mercer Co ., Inc. The letter projects fees of $16,500 total.
Recovery of 20% Supplemental Disability Benefit from the Beneficiary of Grady Brackeen
Ms . Wescoat reported that the collection agency had not received the information mailed to
them on July 18, 1996 . The agency did not follow-up when the requested information was
not received . The information was faxed to the agency on January 3, 1996.
NEW BUSINESS
Notification of benefit request from Norman Wood
Norman Wood has requested a retirement benefit as of his termination date of January 20,
1996 .
MEMBERS CHOICE
Mr. Phelps expressed the appreciation for the duties that Chairperson Wood has performed as
Chairperson .
MR. PHELPS MOVED TO ADJOURN . MR. GRYGLEWICZ SECONDED.
Ayes :
Nays :
Absent:
The motion carried .
Wood , Phelps, Knoll, Condreay, Gryglewicz
None
Bums
The meeting adjourned at 2:10 p .m.
~dlUMC~
Carol Wescoat
Recording Secretary
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