HomeMy WebLinkAbout1996-09-09 FPB MINUTESFIREFIGHTERS PENSION BOARD
SPECIAL MEETING
September 9, 1996
A special meeting of the Englewood Firefighters Pension Board was called to order by
Chairperson Bill Young at 4 :55 p.m. in the George Perrin Room of the Englewood
Library, 3400 South Elati Street.
Members Present:
Members Absent:
Others Present :
Bill Young, Chairperson, Employee
Tom Bums, Mayor
Mike Gruninger, Employee Representative
Frank Gryglewicz, Director of Financial Services
Jay Seay, Employee Representative
Denise Lombardi, Council Appointee (with notice)
Patrick Landry, William M. Mercer, Co ., Inc.
Carol Wescoat, Recording Secretary
A quorum was present.
* * * * *
Mr. Gruninger outlined the process of Fire and Police Pension Association (FPPA)
affiliation for the Volunteer Firefighters pension fund. The FPP A will have the ability to
invest in more aggressive funds then the current investment managers .
MR. GRUNINGER MOVED TO REQUEST THE CITY OF ENGLEWOOD PETITION
THE FIRE AND POLICE PENSION ASSOCIATION FOR INVESTMENT
MANAGEMENT AFFILIATION. MR. GRYGLEWICZ SECONDED.
Ayes :
Nays :
Absent:
The motion carried .
Young, Burns, Gruninger, Gryglewicz, Seay
None
Lombardi
The Board agreed to an informational meeting with the Volunteer Firefighter participants
on September 25, 1996, at 4 :00 p.m. The location to be determined .
Meeting adjourned at 5:05 p.m .
Carol Wescoat
Recording Secretary
..
The motion carried .
It was the consensus of the members present to proceed with a request for formal
proposal for investment performance services. The Police Officers Pension Board will
address the matter when a quorum is attained .
Ms. Mees inquired about Mr. Mazanec's attendance at all Nonemergency Pension Board
Meetings . The flat fee for actuarial services includes a representative from William M .
Mercer, Inc . for all Nonemergency Board Meetings .
Ms. Skrivan left 4 :50 p.m .
General discussion of William M . Mercer, Inc. services .
The Nonemergency Retirement Board and Police Officers Pension Board adjourned at
4 :51 p .m. The Firefighters Pension Board proceeded with a Special Meeting.
The members took a short break.
Discussion of William M . Mercer, Inc., fee proposal for Plan Document.
The Firefighters discussed the fee proposal of the plan document preparation .
MR. GRUNINGER MOVED TO ACCEPT THE WILLIAM M . MERCER, INC. FEE
PROPOSAL FOR PLAN DOCUMENT PREPARATION WITH THE
UNDERSTANDING THE PLAN DOCUMENT INCLUDE AN AUTOMATIC COST
OF LIVING ADWSTMENT, BASED ON THE DENVER/BOULDER CPI ; AN
INCREASE OF THE $100 ONE TIME DEATH BENEFIT; AND RETIREE
OPTIONAL PAYOUTS . MR. GRYGLEWICZ SECONDED .
Discussion followed clarifying the cost of living adjustment guidelines. Concern
was expressed with the ability to remove sections of plan document if City Council
did not approve all sections.
Ayes :
Nays:
Absent:
The motion carried.
Young, Gruninger, Gryglewicz, Lombardi , Seay
None
Bums
The meeting adjourned at 5 : 10 p .m.
Carol Wescoat
Recording Secretary
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