HomeMy WebLinkAbout2006-02-09 POPB MINUTESPOLICE PENSION BOARD MEETING
February 9, 2006
The regular meeting of the Englewood Police Pension Board was called to order by
Chairperson Norm Wood, at 3:02 p.m . in Public Works Conference Room, Civic Center,
1000 Englewood Parkway.
Members Present:
Members Absent:
Others Present:
Norm Wood, Chairperson
George Egri , Employee Representative
Frank Gryglewicz, Director of Finance and Administrative Services
Olga Wolosyn, Mayor
John Knoth , Employee Representative (Notice)
James Phelps, Council Appointee (No Notice)
Dan Brotzman, City Attorney
A quorum was present.
* * * * *
SEATING OF BOARD MEMBER
Seating of Board Member Norm Wood.
The Board congratulated Norm Wood on his re-election to the Police Officers Pension Board.
Election of Board Chairperson/President
MR. GRYGLEWICZ MOVED TO NOMINATE NORM WOOD AS CHAIRPERSON.
MAYOR WOLOSYN SECONDED .
Ayes:
Nays:
Absent:
Abstention:
The motion carried .
Gryglewicz, Egri , Wolosyn
None
Knoth, Phelps
Wood
APPROVAL OF MINUTES
MR. GR YGLEWICZ MOVED TO APPROVE THE MINUTES OF THE REGULAR
MEETING OF FEBRUARY 10, 2005. MR . EGRI SECONDED.
Ayes : Gryglewicz, Wood
Nays:
Absent:
Abstention:
The motion carried.
OLD BUSINESS
None
Knoth, Phelps
Egri,Wolosyn
No old business was discussed
NEW BUSINESS
Review of FPP A Plan Statements.
* * * * *
The Board reviewed the quarterly and year-end statements from the Fire and Police Pension
Association (FPPA). Mr. Gryglewicz noted the last three years returns looked good and that
the five year annualized return is 5.20%. This is less than the eight percent actuarial
assumption that is used.
Review of 2005 meeting attendance .
The Board reviewed the 2005 meeting attendance and determined the attendance was
acceptable. A correction was noted that George Egri was absent with notice at the February
10, 2005 meeting.
Discussion of 2006 Actuarial Studies for Police Officers Pension Plan.
The Board agreed to include a study of increasing the monthly member benefit by $100 and
the survivors benefit by $50 as of January 1, 2007 for members retired on or after January 1,
2005 .
.MEMBER'S CHOICE
The next meeting will be determined after the actuarial report is completed in June 2006.
MR. GRYGLEWICZ MOVED TO ADJOURN. MR. EGRI SECONDED.
Ayes:
Nays:
Absent:
Egri, Wolosyn, Wood, Gryglew icz
None
Knoth, Phelps
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Police Officers Pension Board
The motion carried .
The meeting adjourned at 3:17 p .m.
Carol Wescoat
Recording Secretary
Police Officers Pensi on B oard
3