HomeMy WebLinkAbout1995-07-13 FPB MINUTESFIREFIGHTERS PENSION BOARD MEETING
July 13, 1995
A regular meeting of the Englewood Firefighters Pension Board was called to order by
Chairperson Bill Young at 3:05 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 Gry g lewicz, Director of Financi a l Services
Tom Burns, Mayor
Dan Brotzman, City Attorney
Don Mazanec, William M . Mercer, Inc .
Carol Wescoat, Recording Secretary
Kevin Collins, Van Schooneveld and Co ., Inc .
Dawn Martinez, Van Schooneveld and Co ., Inc .
Steve Dazzio , Chief Accountant
A quorum was present.
* * * * *
Approval of Minutes
MR GRYGLEWICZ MOVED TO APPROVE THE MINUTES OF THE REGULAR
MEETING OF APRIL 27, 1995. MR. GRUNINGER SECONDED.
Ayes :
Nays :
Absent:
The motion carried .
Young, Resl ey, Gruninger, Gryglewicz, Seay
None
Burns
MR GRYGLEWICZ MOVED TO APPROVE THE MINUTES OF THE JOINT
PENSION BOARD INFORMATIONAL MEETING AND TELEPHONE POLL OF
MAY 17 , 19 9 5 . MR. SEAY SECONDED.
Ayes:
Nays :
Absent:
The motion carried .
Young, Resley , Grunin g er , Gryglewicz, Seay
None
Burns
MR GRYGLEWICZ MOVED TO APPROVE THE MINUTES OF THE JOINT
PENSION BOARD MEETING OF JUNE 21 , 19 9 5. MR . GRUNINGER SECONDED.
Ayes :
Nays :
Absent:
The motion carried .
Young, Resley, Gruninger, Gryglewicz, Seay
None
Burns
MR GR YGLEWICZ MOVED TO APPROVE THE MINUTES OF THE TELEPHONE
POLL OF APRIL 25 , 19 9 5 . MR . SEAY SECONDED .
Ayes :
Nays :
Absent:
The motion carried .
OLD BUSINESS
Young, Resley , Gruninger, G ryg lewicz , Seay
None
Burns
* * * * *
Chairperson Young requested the agenda it ems be altered to allow Van Schooneveld and
Co ., Inc ., to present the Volunteer Firefighters Fund audit findings .
Mr. Kevin Collins presented the audit findings in the form of a letter draft and
spreadsheets . Discussion followed relating to the findings .
Mr. Collins suggested the City of Englewood staff provide a letter for Van Schooneveld
and Co ., Inc ., to further document the findings of the audit.
MR GRYGLEWICZ MOVED TO ACCEPT VAN SCHOONEVELD AND CO ., INC.' S
AUDIT FINDINGS AND TO REQUEST A LETTER FROM CITY STAFF TO
PROVIDE ADDITIONAL DOCUMENTATION. MR. GRUNINGER SECONDED .
Ayes :
Nays :
Absent:
The motion carried .
Young, Resley, Gruninger, Gryglewicz , Seay
None
Burns
Mr. Collins, Ms . Martinez, and Mr. Dazzio left. The Board took a short recess, 4 : 10 p .m .
4 :25 p .m . the Board resumed .
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·'
Discussion ofinvestment Managers
Discussion ensued relating to the choices of investment managers.
MR GRUNINGER MOVED TO APPOINT DODGE AND COX AS INVESTMENT
MANAGERS . MR GR YGLEWICZ SECONDED .
Ayes:
Nays :
Resley, Gruninger, Gryglewicz, Seay
Young
Absent: Burns
The motion carried .
Discussion of changing retiree payout options
Discussion ensued related to the sample payout options that were provided by Financial
Services . The Board agreed to table the issue until Mr. Brotzman was able to review the
payout options .
NEW .BUSINESS
Colorado Public Pension Conference
The Board discussed the attendance of th e Colorado Public Pension Conference . None of
the Board members are attending this year .
Report of refund of fees from EFI
Ms. Wescoat reported a refund of $50 . 00 was credited against the Firefighters Pension
Fund's share of expenses to the Public Retirees Conference A total of $200 was received
after Ms . Wescoat had contacted EFI regarding her disappointment with workshop that was
available for an extra fee .
Board notification of disability and spousal benefit verification
The Board members reviewed a list of the individuals receiving either disability or spousal
benefits . The individuals will be contacted to confirm their continued eligibility status .
MR GRUNINGER MOVED NOT TO REQUEST VERIFICATION FROM JAMES
MC CURDY MR GRYGLEWICZ SECONDED .
Ayes : Young, Resley , Gruninger, Gryglewicz, Seay
Nays : None
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Absent: Burns
The motion carried .
Discussion followed related verification of signatures by requiring the signatures to be
notarized . The Board agreed the signatures did not need to be notarized.
Actuarial valuation presentation by William M . Mercer, Inc .
Don Mazanec presented a draft of the actuarial valuation. Discussion followed relating to an
increase in retiree benefits . Mr. Mazanec indicated the cost would be approximately $1,000.
MR GRUNINGER MOVED TO AUTHORIZE A STUDY OF AN INCREASE IN
RETIREE BENEFITS. MR GRYGLEWICZ SECONDED.
Mr . Gruninger withdrew the motion .
MR. GRUNINGER MOVED TO AUTHORIZE A STUDY OF A COST OF LIVING
INCREASE IN RETIREE BENEFITS THAT IS THE SAME AS THE FPP A. MR
GRYGLEWICZ SECONDED.
Ayes:
Nays :
Absent:
The motion carried.
Young, Resley, Gruninger, Gryglewicz, Seay
None
Burns
Discussion of Volunteer Firefighters Issues.
Discussion ensued related to the Van Schooneveld and Co ., Inc ., audit findings as it
affects the increase in retiree benefits . The Board agreed to table the issue until the audit
findings are presented to the Volunteer Firefighters .
* * * * *
MEMBERS CHOICE
MR. GRYGLEWICZ MOVED TO ADJOURN . MR GRUNINGER SECONDED.
Ayes :
Nays :
Absent:
Young, Resley , Gruninger, Gryglewicz, Seay
None
Burns
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. ._
Meeting adjourned at 5:40 p.m.
t!:u 0-f cu!tJci&if
Carol Wescoat
Recording Secretary
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