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Home My WebLink About1995-10-19 FPB MINUTES• • • FIREFIGHTERS PENSION BOARD MEETING October 19, 1995 A regular meeting of the Englewood Firefighters Pension Board was called to order by Chairperson Bill Young at 4 : 10 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 Willis Resley, Council Appointee Mike Gruninger, Employee Representative Tom Bums, Mayor Frank Gryglewicz, Director of Financial Services Jay Seay, Employee Representative John Blanchard, Firefighter Dan Brotzman, City Attorney Carol Wescoat, Recording Secretary A quorum was present. * * * * * Approval ofMinutes MR GRUNINGER MOVED TO APPROVE THE MINUTES OF THE REGULAR MEETING OF JULY 13, 1995. MR. GRYGLEWICZ SECONDED . Ayes: Nays : Absent : Abstain : The motion carried . Young, Resley, Gruninger, Gryglewicz None Seay Burns MR GR YGLEWICZ MOVED TO APPROVE THE MINUTES OF THE TELEPHONE POLL OF AUGUST 3, 1995. MR. GRUNINGER SECONDED . Ayes: Nays : Absent: The motion carried . Young, Resley, Gruninger, Gryglewicz, Bums None Seay MR GRYGLEWICZ MOVED TO APPROVE THE MINUTES OF THE TELEPHONE POLL OF AUGUST 28, 1995 . MR. GRUNINGER SECONDED . Ayes : Nays : Absent: The motion carried . OLD BUSINESS Young, Resley , Gruninger, Gryglewicz, Burns None Seay * * * * * Review of fund transfer to Dodge & Cox Mr . Gryglewicz reviewed the transfer of funds from Mellon Trust to Dodge and Cox . The primary transfer was accomplished on September 28, 1995 . Mr . Forbes with Mellon Trust has indicated a minimal amount of accrued interest will be credited to the account in October . Final transfers will be done at that time . Board notification of spousal benefit verification . Ms. Wescoat stated all individuals receiving disability or spousal benefits have completed and returned the information request. Colorado Public Pension Conference Ms . Wescoat reviewed the 1995 Colorado Public Pension Conference . Discussion of changing retiree payout options Mr. Brotzman has not completed his review of the payout options . The Board agreed to table the issue until the January, 1996 meeting . Final actuarial valuation presentation by William M . Mercer Inc . Mr . Mazanec was unable to attended meeting. The final 1995 actuarial valuation was distributed for the Board's review . 2 • • • • • • Review of benefit increase for Volunteer Firefighters . Copies of the benefit amounts received by the volunteer firefighters resulting from the increase approved on July 13, 1995 were distributed to the Board members . Ms . Wescoat acknowledged expressions of appreciation from Mrs. Grace Vanetta and Mrs . Lillian Lizar. NEW BUSINESS Review of Police & Fire Pension Plan -QDRO 's Research Mr . Brotzman reviewed his opinion relating to changes in the Colorado State Statutes interpretation as it relates to QDRO's (Qualified Domestic Relation Orders). His opinion states the interpretation has not changed . The retirement benefit for either police or firefighters in the State of Colorado may only be attached for purposes of child support claims . Discussion ensued relating to the d isclosure of individual pension and deferred compensation information . Further discussion indicated the IRS restrictions for the 457 deferred compensation plan . Mr. Brotzman commented on an inqu iry relating to the election of board members and those eligible to serve on the board . State Statutes specify only firefighters accruing benefits are eligible to vote for board members, albeit paid or volunteer firefighters . Volunteers or retirees are not accruing benefits . He also stated that it is not necessary to have a volunteer firefighter , as a class, on the board . Mr. Brotzman stated a problem will exist when all acti ve participants are retired and the plans have no participants accruing benefits. The firefighters could have an election now and elect a volunteer firefighter for a position on the Board . At some point the process will need to be changed to allow volunteers and retirees to vote . Mr. Gruninger will research City records and provide copies of an ordinance that dissolved the volunteer firefighters' program . MR . GRUNINGER MOVED TO PROCEED WITH AN EVALUATION OF THE PROCESS OF CHANGING THE ELECTORS OF THE BOARD TO INCLUDE PAID AND VOLUNTEER RETIREES . Mr. Brotzman stated that if a majority vote is obtained from the participants includ ing those accruing benefits, i .e., paid firefighters ; volunteer firefighter retirees ; and paid firefighter retirees ; then the electors for membership of the board can be changed . 3 Mr. Gruninger withdrew the motion . Mr. Brotzman stated that staff will proceed with research relating to the steps that must be undertaken to change the membership of the Board . Request approval of separate accounting fund for Volunteer Firefighters Mr. Gryglewicz requested the board approve creating a separate fund to account for the volunteer firefighters pension activities. MR . GRYGLEWICZ MOVED TO CREATE A SEPARATE FUND TO ACCOUNT FOR VOLUNTEER FIREFIGHTERS PENSION ACTIVITIES. MR. GRUNINGER SECONDED . Ayes : Nays : Absent : The motion carried . · Young, Resley, Gruninger, Gryglewicz, Burns None Seay Consideration of Request for 20% Supplemental Disability by John Blanchard MR. GRUNINGER MOVED TO APPROVE THE 20% SUPPLEMENT AL DISABILITY FOR JOHN BLANCHARD UPON RECEIPT OF THE LETTER FROM FPPA AFFIRMING THE DISABILITY AS OF AUGUST 8, 1995 . MAYOR BURNS SECONDED . Discussion ensued related to the Municipal Code guidelines for benefit eligibility . Mr . Brotzman stated the need for a factual finding of eligibility. Mr. Ulrich and Mr. Lockwood with Safety Services Department had been contacted regarding this matter. Both indicated an occupational disability had been approved by FPPA with re-evaluations annually . No confirming documentation has been received . Mr. Brotzman requested that Mr. Blanchard outline the process to obtain a permanent disability . Mr. Blanchard summarized the process he experienced to become occupationally disabled by FPP A. Ayes : Nays: Absent: The motion carried . Young, Resley , Gruninger, Gryglewicz, Burns None Seay 4 • • • • • • MR . GRUNINGER MOVED TO REQUEST ANNUAL TAX RETURNS FROM ALL DISABILITY RETIREES RECEIVING THE 20% SUPPLEMENT AL DISABILITY ON MAY 1, OF EACH YEAR . MR . GRYGLEWICZ SECONDED . Mr . Blanchard questions the requirement of providing tax returns . Mr. Gryglewicz explained that the Municipal Code provides the benefit for firefighters who are permanently disabled fro 'm performing the duties of any occupation, and that any income would make a recipient ineligible for the supplemental benefit. Mr. Blanchard questioned the difference between an occupational and a permanent disability . Mr. Gryglewicz stated the type of disability has no bearing. Any income earned as a result of personal services (either as an employee of another or on his own behalf), disqualifies the recipient. Discussion indicated that the motion would not include Mr. McCurdy because of a prior exclusion . Mr. Gruninger read the section of The Code referring to the exclusion of benefit in lieu of income from any occupation . Discussion followed further defining ineligibility . Mr . Brotzman stated that benefit ineligibility should be considered when pursuing other income . Mr. Blanchard commented , "Nothing would ever show in my name ... what I do." Ayes: Nays: Absent: The motion carried . Young , Resley, Gruninger, Gryglewicz, Bums None Ses.ty 5: 15 p.m. Mayor Burns left . * * * * * MEMBERS CHOICE Chairperson Young inquired about further concerns of Dodge and Cox because the Board does not have a custodial bank. Mr . Gryglewicz stated that the concerns had been addressed and the matter would be reviewed after a one year trial period to revisit the issue of obtaining a custodial bank. He also stated that William M . Mercer Company has expressed additional concerns that will be addressed . 1995 Elections An election will be held for Michael Gruninger's expiring term during December. Mr. Resley's term expires February 1, 1995 . MR. GRUNINGER MOVED TO ADJOURN . MR . RESLEY SECONDED . Ayes : Young , Resley , Gruninger, Gryglewicz 5 Nays : Absent : None Seay , Bums • Meeting adjourned at 5:18 p .m. Carol Wescoat Recording Secretary • • 6