HomeMy WebLinkAbout2011-08-04 POPB MINUTES•
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POLICE PENSION BOARD MEETING
August 4 , 2011
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The regular meeting of the Englewood Police Pension Board was called to order by
Chairperson Norm Wood, at 2:00 p.m . in Public Works Conference Room, Civic Center,
1000 Englewood Parkway. i . , . , ·
Members Present : Norm Wood , Chairperson
George Egri , Employee Representative
Frank Gryglewicz, Director of Finance and Administrative Services
James Phelps , Council Appointee
Jim Woodward, Mayor
Members Absent: Gary Condreay, Employee Representative (notice)
Others Present: None ' ' '}' j ~ ' .', " I
A quorum was present.
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Approval of Minutes .
MR. GRYGLEWICZ MOVED TO APPROVE THE MINUTES OF THE REGULAR
MEETING OF FEBRUARY 10 , 2010. MR. PHELPS SECONDED .
Ayes:
Nays:
Absent:
The motion carried.
Egri, Gryglewicz, Phelps , Wood , Woodward ·
None
Condreay
Notification of DROP Application for Gary Condreay
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Gary Condreay submitted his application to enter the Deferred 1Retirement Option Plan
(DROP) as of August 29 , 2011. Mr. Condreay has not finalized his paperwork. The benefit
request will be approved at the next regular Board meeting.
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Review of FPP A Plan Statements. I I' () '.,-'' ~ l
The Board reviewed the first and second quarterly statements from the Fire and Police
Pension Association (FPP A). The Board discussed FPP A 's changes to the actuarial
assumptions and their possible impact on Plan funding requirements.
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November 10, 2011 Meeting -Furlough Day
The next quarterly Board meeting is scheduled for November 10, 2011. November 10 is a
scheduled furlough day for City employees . The Board agreed to cancel the meeting. If
items occur that require the Board's immediate attention , a special meeting will be
scheduled.
Norm Wood's Term on the Board Expires December 31, 2011
Chairperson Wood's term on the Board expires on December 31 , 2011 . The Retirement
Administrator will hold an election through the usual processes to fill the vacancy.
Ms. Wescoat informed the Board of City Attorney Brotzman 's opinion that ifthere is onl y
one qualified candidate , an election is not required and the qualified candidate can be
appointed to the vacant Board position.
Mayor Woodward told the Board of an initiative that was pending that will limit the terms
Boards and Commissions can serve to three consecutive terms. Discussion ensued related to
the issues of filling vacant Employee Representative Board positions .
Member 's Choice
Mary Brauer, the Plan's attorney, has notified the Board of a required change to the Plan
document that must be completed before year end. The Board discussed the amendment.
MR . PHELPS MOVED TO APPROVE THE PLAN AMENDMENT TO ADD THE
VERBIAGE PERMITTING DIRECT ROLLOVER OF A LUMP SUM TO A ROTH IRA.
MR. GRYGLEWICZ SECONDED.
Ayes:
Nays:
Absent :
The motion carried.
Egri, Gryglewicz , Phelps , Wood , Woodward
None
Condreay
Mayor Woodward stated that his term as Mayor will end after the November election and
said it had been a pleasure to be on the Board. Chairperson Wood thanked the Mayor.
MR. PHELPS MOVED TO ADJOURN. MR. GRYGLEWICZ SECONDED .
Ayes :
Nays:
Absent:
The motion carried.
Egri , Gryglewicz , Phelps , Wood, Woodward
None
Condreay
Police Officers Pension Board
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• The meeting adjourned at 2:15 p.m.
Carol Wescoat
Recording Secretary
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Police Officers Pension Board
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