HomeMy WebLinkAbout1995-01-12 FPB MINUTESFIREFIGHTERS PENSION BOARD MEETING
January 12 , 1995
A regular meeting of the Englewood Firefighters Pension Board was called to order by
Board Member Frank Gryglewicz at 3 :08 p.m. in Conference Room A of the Englewood
City Hall , 3400 South Elati Street.
Members Present :
Members Absent:
Others Present :
Bill Young, Chairperson, Employee Representative
Jay Seay , Employee Representative
Willis Resley , Council Appointee
Mike Gruninger, Employee Representative
Frank Gryglewicz, Director of Financial Services
Tom Bums, Mayor (arrive 3 :14 p .m.)
None
Dan Brotzman, Assistant City Attorney
Chris Olson, Deputy Director of Safety Services
Carol Wescoat, Recording Secretary
A quorum was present.
* * * * *
SEATING OF BOARD MEMBERS
The Board welcomed Bill Young, re-elected as an employee representative .
MR. GRUNINGER NOMINATED BILL YOUNG AS CHAIRPERSON. MR. SEAY
SECONDED .
Ayes :
Nays :
Absent :
Abstention :
The motion carried .
Approval of Minutes .
Resley, Gruninger, Gryglewicz, Seay
None
Bums
Young
MR. GRUNINGER MOVED TO APPROVE THE MINUTES OF THE REGULAR
MEETING OF OCTOBER 13 , 1994 . MR. GRYGLEWICZ SECONDED .
Ayes :
Nays :
Young, Resley, Gruninger, Gryglewicz, Seay
None
Absent : Bums
The motion carried.
* * * * *
OLD BUSINESS
Review of Ordinances for Separate Funding of 20% Supplemental Disability
Mr. Gryglewicz reviewed· the final Ordinances related to the separate funding of the 20%
Supplement Disability . Discussion followed relating to the deletion of the Section 3-8-1-2.
3 :14 p.m. Mayor Bums arrived.
The Board welcomed Mayor Tom Bums as a new member .
Discussion followed relating to the Ordinance .
3 :20 p.m . Chris Olson arrived .
Chairperson Young stated the ordinance would be final on January 19 , 1995 . Anyone
having additional concerns should contact Mr. Gryglewicz, prior to that date .
NEW BUSINESS
Consideration of request by Jon T. Seay .
Chairperson Young reviewed the letter from Jon Seay .
Mr. Gruninger referred to Colorado State Statutes §31-30-415-(8)(c), which indicate a
volunteer firefighter is eligible to received benefits at age 50 , with a minimum of ten years
service . The benefit is to be prorated based on the number of years of service. The information
provided by Mr. Seay indicated his service was 14 1h years .
Mr. Gruninger questioned the phrase specifying that the fund must be "actuarially sound ." His
understanding of statutes indicate there is one fund , not two separate funds , which shall pay the
paid and volunteer firefighters alike . He referred to the paragraph stating there is to be one
board and one fund . He questioned the right of the City or the board to separate the funds for
volunteers and paid firefighters . Discussion followed indicating the funds were actuarially
sound, and what "one fund" meant.
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Chairperson Young suggested deferring Jon Seay ' s request until Mr. Brotzman is able to
provide an opinion. Mr. Brotzman stated he will provide two opinions, one on Jon Seay ' s
request and one on the issue of two funds.
MR. GRUNINGER MOVED TO APPROVE A MONTHLY BENEFIT OF $72.50 FOR JON
SEAY, ON THE DATE HE ATTAINS AGE 50 .
Discussion followed relating to eligibility according to Colorado State Statutes .
Chairperson Young questioned if the Board would be doing an injustice to Jon Seay if
they provided a benefit before Mr. Brotzman's determination. Mr. Seay suggested
waiting until Mr. Brotzman's opinion because of other individuals may be similarly
affected . Additional discussion indicated Jon Seay is 55 years of age .
The motion died for lack of a second .
MR. GRUNINGER MOVED TO PROVIDE A MONTHLY BENEFIT TO JON-SEAY
EFFECTIVE AS OF THE DATE OF APPLICATION.
Discussion followed relating to documenting proof of service and the possibility of a
telephone poll when the research is completed. Mr. Brotzman stated it is the
responsibility of the volunteer firefighter to provide service information.
Mr. Gruninger withdrew his motion .
The issue was tabled until Mr. Brotzman is able to provide an opinion and documentation is
complete .
Consideration of request by Bill Hamilton
Mr. Hamilton withdrew his request prior to the Board Meeting .
Consideration of affiliation with FPP A.
MR. SEAY MOVED TOT ABLE THE ISSUE . MR. GRUNINGER SECONDED .
Discussion followed regarding the steps necessary to affiliate with FPP A and the
research required by the Board . Mayor Burns inquired about the research currently
being done . Mr. Seay stated there is no research being done currently . The research
was to be deferred until other board issues could be included with their study . This was
one reason for the proposed monthly board meetings .
Mr. Gruninger stated that monthly board meetings are not necessary to proceed with
research . The meetings are to present the findings of the research . He suggested a
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committee proceed with the research, make presentations to the Board, and schedule
special meetings as needed . Mr. Seay questioned the need for a list of projects for the
committee. Mr. Gruninger suggested both compiling a list and prioritizing the items
with time lines .
Ayes :
Nays :
Absent :
The motion carried .
Young, Resley, Gruninger, Gryglewicz, Seay, Bums
None
None
Discussion of proposals for actuarial services
Mr. Gryglewicz reviewed the proposals received and requested the board members
evaluate the proposals to select a preference of firms to do a presentation the week of
February 6, 1995 . Discussion ensued relating to the process of requesting proposals from
actuaries .
New representatives of The Boston Company
Mr. Gryglewicz explained the change in personnel at The Boston Company . The new
representative is Arthur J. "Mac" MacBride, Senior Vice President. Mac is the corporate
bond specialist replacing Steve Thalasinos.
Discussion followed relating to The Boston Company 's response to inquiries made during
the Joint Board Meeting.
Discussion followed relating to the questioh and response given by The Boston Company
concerning the purchase and sale of treasury notes .
Discussion of possible dates for presentation by The Boston Company
Discussion ensued related to the possible dates for The Boston Company 's annual
presentation to the Board. The matter was deferred until the proposed Joint Pension
Board meeting to be scheduled the week of February 6, 1995 .
Consideration of monthly board meetings
Chairperson Young suggested the committee include himself, Mr. Gruninger, and Mr. Seay .
Mr. Gryglewicz volunteered his and Ms. Wescoat's services if needed . Mr. Seay recommended
setting priorities for the projects .
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Mr. Brotzman reminded the Board that committee meetings are appropriate, but public
meetings must not be held without proper notification to the Board. If three Board members
conduct a meeting without proper notification it is violation of the Open Meetings Law. A
report on the meeting must be given to the entire Board.
Discussion ensued relating to more frequent Board meetings to research additional projects
(e.g ., writing a plan document and volunteer firefighters benefit research, etc .). Mr. Gryglewicz
suggested a committee would be more appropriate than a formal meeting to conduct research.
Mr. Seay suggested the committee include Bill Young, Mike Gruninger, Frank Gryglewicz and
Carol Wescoat, to work on projects.
The first committee meeting will be scheduled within two weeks .
4 :25 p.m. Mr. Olson left .
IRS Letter of Determination
Mr. Brotzman reviewed information received from the IRS indicating the plan did not have
a Letter of Determination . He recommended taking the necessary steps to obtain a Letter of
Determination .
Chairperson Young commented on outside counsel's recommendation to either proceed
"status quo " with the hope of not needing the Letter of Determination, or, attempt to meet
the qualification and risk the possibility of subjecting earnings to taxation . Mr. Gryglewicz
suggesting postponing action until the Board has completed the evaluation of FPPA
affiliation or writing a new plan document.
Mr. Brotzman recommending including all copies of correspondence from the IRS relating
to the plan and its participants when requesting the Letter of Determination .
Discussion followed relating to the importance of a Letter of Determination and how it
relates to FPP A affiliation or a new plan document.
Chairperson Young asked if outside counsel would be necessary to proceed with the Letter
of Determination . Mr. Brotzman stated outside counsel would be utilized as necessary .
Discussion of V o lunteer Firefighters Issues .
Discussion followed suggesting volunteer firefighters issues be prioriti z ed and included with
other committee research projects .
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Chairperson Young and Mr. Gruninger will contact Mr. Gryglewicz and Ms. Wescoat to
arrange a committee meeting during February.
Mr. Brotzman stated the volunteer firefighters' records had been received and photocopied.
The records are in the City Attorney's office and available for review .
Consideration of Plan Document
The item was referred to the committee for research .
Further discussion ensued relating to organization of the meetings to present projects and
notifying the Recording Secretary of projects prior to each meeting to set agenda. Suggestions
included setting a time limit for subject matter and meetings .
* * * * *
MEMBERS CHOICE
Death Benefits
Mr. Gruninger referred to Colorado State Statute §31-30-409 which provides a one time
benefit of $100 to the surviving spouse or family of a retiree or firefighter .
MR. GRUNINGER MOVED TO PROVIDED A DEATH BENEFIT IN
ACCORDANCE WITH COLORADO STATE STATUTES §31-30-409, OF $100 TO
MRS . ALICE FORMAN . MR. GRYGLEWICZ SECONDED .
Ayes :
Nays:
Absent :
Abstention:
The motion carried.
Young, Resley, Gruninger, Gryglewicz, Bums
None
None
Seay
Colorado State Statutes §31-30-410
Chairperson Young requested Mr. Brotzman review Colorado State Statute §31-30-410 ,
and provide an opinion as to the Board's compl iance with the section of statutes .
Discussion was deferred until a legal opinion is obtained.
MR. SEAY MOVED TO ADJOURN . CHAIRPERSON YOUNG SECONDED .
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Ayes :
Nays :
Absent :
The motion carried.
Young, Resley, Gruninger, Gryglewicz, Bums, Seay
None
None
Meeting adjourned at 4 :55 p .m.
~0-/W~
Carol Wescoat
Recording Secretary
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