HomeMy WebLinkAbout1999-06-22 POPB MINUTESPOLICE PENSION BOARD MEETING
June 22 , 1999
The regular meeting of the Englewood Police Pension Board was called to order by
Chairperson Norm Wood, at 4 :00 p.m. in the Anderson Room, City of Englewood Library,
3400 South Elati Street.
Members Present :
Members Absent :
Others Present :
Norm Wood , Chairperson
Gary Condreay, Employee Representative
Ralph "Rick " Forbes, Employee Representative
Frank Grygle wicz , Director of Financial Services
James Phelps , Council Appointee
Tom Bums, Mayor (notice)
Cindy Birley, Kutak Rock
Carol We scoat, Recording Secretary
A quorum was present.
* * * * *
DISCUSSION OF PLAN DOCUMENT FINAL DRAFT
Ms . Birley re viewed the Plan document amendments . She clarified that the effective dates of
the DROP were set be cause FP P A will not administer the DROP until the Plan receives a
Letter for Determination fr o m the IRS .
The Board discussed the amendments and made minor changes to the Plan document.
MR . GRYGLEWICZ MOVED TO APPROVE THE PROPOSED PLAN DOCUMENT
WITH TECHNICAL CHANGES AS NECESSARY. MR . PHELPS SECONDED .
Ayes :
Nays :
Absent :
The motion carried .
Wood , Forbes, Phelps , Condreay, Gryglewicz
None
Bums
Ms. Birley outlined the options available regarding the filing for the IRS Letter of
Determination . She explained the complications that may occur because the Plan has not filed
for a Letter of Determination previously . The options are : 1) The Board may elect to file the
Plan through the usual process and provide the IRS with additional infonnation stating that
the Plan had not previously filed for a Letter because the Plan followed Colorado State
Statutes. 2) The Board may submit a request for leniency by voluntarily complying with audit
rules and pay all fines due prior to filing for a Letter of Determination . 3) The Board could
not file for a Letter of Determination. Because FPPA will not administer the DROP without a
Letter of Determination, this is not an acceptable option .
MR. PHELPS MOVED TO FILE FOR THE LETTER OF DETERMINATION THROUGH
THE NORMAL PROCESS WITH ADDITIONAL INFORMATION OUTLINING THE
REASONS FOR NOT FILING PREVIOUSLY. MR. GRYGLEWICZ SECONDED .
Ayes :
Nays :
Absent:
The motion carried
Wood, Forbes, Phelps , Condreay, Gryglewicz
None
Bums
The Board discussed presenting the Plan document to the active members . A meeting of the
active participants is scheduled for June 28 , 1999 , at 4 :0 0 p .m.
MR . CONDREAY MOVED TO ADJOURN . MR . PHELPS SECONDED .
Ayes :
Nays :
Absent:
The motion carried
Wood, Forbes, Phelps , Condreay , Gryglewicz
None
Bums
Meeting adjourned at 5 :00 p.m .
~o.L~~
Carol Wescoat
Recording Secretary
Police Officers Pension Board
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