HomeMy WebLinkAbout1996-05-01 FPB NEERB POPB JOINT MINUTES [INCOMPLETE]JOINT PENSION BOARD MEETING
and
FIREFIGHTERS PENSION BOARD MEETING
May 1, 1996
Special Meeting
A Special Joint Pension Board Meeting of the City's three defined benefit retirement
boards, was held in the George Perrin Room, Englewood Public Library, 3400 South Elati
Street, Englewood, Colorado . The Joint Board Meeting was called to order at 2:37 p.m .,
by Norm Wood, Chairperson Police Officers Pension Board; Richard Kahm, Chairperson
Nonemergency Pension Board, and Bill Young, Chairperson Firefighters Pension Board .
Non-Emergency Retirement Board
Richard Kahm , Chairperson
Gary Bowman, Council Appointee
Frank Gryglewicz, Director of Financial Services
Jill Mees, Council Appointee
Roberta Skrivan, Employee Representative
Firefighters Pension Board
Bill Young, Chairperson
Denise Lombardi, Council Appointee
Frank Gryglewicz, Director of Financial Services
Mike Gruninger, Employee Representative
Jay Seay , Employee Representative (arrived 2 :39 p .m.)
Police Officers Pension Board
Members Absent:
Norm Wood , Chairperson
Frank Gryglewicz, Director of Financial Services
James Phelps, Council Appointee
Non-Emergency Retirement Board
LeRoy Davault, Council Appointee
Alfred F. Vormittag, Jr., Council Member
Fire Pension Board
Tom Burns, Mayor
Police Officers Pension Board
Tom Burns, Mayor
Ralph Forbes, Employee Representative
Gary Condreay , Employee Representative
Others Present : Dale Connors, William M . Mercer
Katherine Herrick-Drake, Vice-President
Dodge & Cox (arrived 3 :00 p.m .)
Carol Wescoat, Recording Secretary
* * * * *
PRESENTATION BY WILLIAM M . MERCER, INC.
Dale Connors -presented the investment performance evaluation for the period beginning January
1, 1995 , and ending March 31, 1996. The evaluation included fund performance for The Boston
Company, and Dodge and Cox.
PRESENTATION BY DODGE AND COX
Katherine Herrick-Drake, Vice-President of Dodge & Cox, presented the Funds'
performance for the previous six month period . Ms . Drake reviewed Dodge & Cox's
investment policies and philosophies .
Discussion ensued related to the fee proposal letter from Dale Connors , William M .
Mercer, Inc., for investment performance services .
Firefighters Pension Board
MR . GRUNINGER MOVED TO ACCEPT DALE CONNORS OF WILLIAM M.
MERCER, INC. PROPOSED 1996 FEES OF 4 .5 BASIS POINTS (0 .045%). MR .
GRYGLEWICZ SECONDED.
Ayes :
Nays :
Absent:
The motion carried .
Young, Gruninger, Gryglewicz , Lombardi, Seay
None
Burns
Mr . Connors left 4 :35 p .m.
Discussion followed related to the level of service provided versus the level needed .
Nonem ergen cy Pension Board
MR . BOWMAN MOVED TO ACCEPT DALE CONNORS OF WILLIAM M.
MERCER, INC. PROPOSED 1996 FEES OF 4 .5 BASIS POINTS (0 .045%). WITH
THE CONTENGENT THAT A REQUEST FOR FORMAL PROPOSAL BE
COMPLETED PRIOR TO THE END OF 1997. MR . GRYGLEWICZ SECONDED .
Ayes :
Nays :
Absent :
Kahm, Gryglewicz, Bowman, Skrivan
Mees
Davault, Vormittag
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