HomeMy WebLinkAbout1998-01-08 POPB MINUTES• POLICE PENSION BOARD MEETING
January 8, 1998
A regular meeting of the Englewood Police Pension Board was called to order by Chairperson
Norm Wood, at 1:30 p .m. in Conference Room A, 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 (with notice)
Ralph "Rick" Forbes, Employee Representative (with notice)
Patrick Landry, William M. Mercer, Inc.
Don Mazanec, William M . Mercer, Inc. (arrived 2 :20 p .m.)
Carol Wescoat, Recording Secretary
• A quorum was present.
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SEATING OF BOARD MEMBER
Seating of re-elected Board member, Norm Wood
The Board congratulated Norm Wood on being re-elected to the Board.
Election of Board Chairperson/President
MR. GRYGLEWICZ NOMINATED NORM WOOD AS CHAIRPERSON. MR. PHELPS
SECONDED .
Ayes :
Nays :
Absent:
Abstention :
The motion carried .
Phelps , Condreay, Gryglewicz
None
Burns, Forbes
Wood
APPROVAL OF MINUTES
MR. GRYGLEWICZ MOVED TO APPROVE THE MINUTES OF THE REGULAR
MEETING OF JULY 10 , 1997 , AND THE JOINT PENSION BOARD MEETINGS OF
OCTOBER27, 1997. MR. PHELPS SECONDED .
Ayes :
Nays:
Absent :
The motion carried .
OLD BUSINESS
Wood, Phelps , Condreay, Gryglewicz
None
Bums, Forbes
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No items were discussed .
NEW BUSINESS
Consideration of benefit request for the beneficiary of John Leydon .
John "Larry" Leydon died on November 21 , 1997. Mr. Leydon married , Sandra Reddington,
on November 14 , 1997 . Board members acquainted with Mr. Leydon confirmed that Mr .~ Mr">
Leydon had been together as a couple for approximately fifteen years .
MR. GRYGLEWICZ MOVED TO APPROVED THE BENEFIT FOR SANDRA M .
REDDINGTON, SPOUSE OF JOHN LEYDON, IN THE AMOUNT OF $830 .69 ,
EFFECTIVE DECEMBER 1, 1997. MR. CONDREAY SECONDED .
Ayes :
Nays :
Absent:
The motion carried .
Wood, Phelps , Condreay, Gryglewicz
None
Bums, Forbes
Review of 19 97 meeting attendance .
The Board re viewed the 1997 meeting attendance and determined the information was correct
with no action was necessary .
Police O ffi ce rs Pension Board
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• Notification of benefit request from Anthony Chappell.
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Anthony Chappell has notified the Board of his resignation and request for pension benefits .
Mr. Chappell 's resignation is effective February 7, 1998 . The Board will review Mr.
Chappell ' s request at the next scheduled Board meeting .
Discontinuance of benefit for Robert Morgan
Robert Morgan, retired police officer, died on October 20 , 1997. Mr. Morgan 's wife had
preceded him in death. No further benefit is due . The October 31 , 1997, benefit was the final
payment.
Discussion of Deferred Retirement Option Plan (DROP)
Mr. Landry reviewed guidelines for a Deferred Retirement Option Plan (DROP). A DROP
plan allows participants who are eligible for normal retirement to accumulate additional
retirement benefits by channeling retirement benefits into a form of money purchase plan while
remaining employed .
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The Board will schedule an Informational Meeting, 0ctober'l5 , 199\ 4 :00 p.m., to explain
Deferred Retirement Option Plan (DROP) to the plan participants.
Mr. Mazanec arrived 2 :20 p.m.
MR. CONDREAY MOVED TO APPROVE FEES FOR WILLIAM M. MERCER, INC., TO
RESEARCH DEFERRED RETIREMENT OPTION PLAN (DROP). MR. GRYGLEWICZ
SECONDED.
Chairperson Wood expressed concern on spending pension funds for research .
Discussion followed relating to the necessity of research .
MR. CONDREAY WITHDREW THE MOTION.
MEMBERS CHOICE
20% Supplemental Disability Ordinance changes .
Mr. Gryglewicz explained that the Firefighters Pension Board had been working on a proposal
to change the 20% Supplemental Disability benefit. He will keep the Board informed on the
progress .
Poli ce Offi cers Pens ion Board
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Newsletter
Mr. Condreay suggested sending a newsletter to the retirees to update them on other retirees
and City of Englewood news. No action was taken .
Miscellaneous
Chairperson Wood was contacted by Ken Leff Mr. Leff would like to have applications for
his organization of retired police included with the retiree pay stubs. The Board agreed that
this would not be allowed.
Chairperson Wood requested a list of current retired and active members be provided at the
next meeting. He also requested that the retiree benefit amounts be included .
The meeting adjourned at 2 :50 p.m.
Carol Wescoat
Recording Secretary
Polic e Offic ers Pens ion Board
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