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HomeMy WebLinkAbout1998-01-08 FPB MINUTES• • • FIREFIGHTERS PENSION BOARD MEETING January 8, 1998 A regular meeting of the Englewood Firefighters Pension Board was called to order by Chairperson Bill Young at 3 : 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 Tom Burns, Mayor (arrived 3 :25 p.m ., left 4 :05 p.m .) Mike Gruninger, Employee Representative Denise Lombardi , Council Appointee Jay Seay, Employee Representative Frank Gryglewicz, Director of Financial Services (with notice) Don Mazanec, William M . Mercer, Inc . (left 4 :35 p .m .) Patrick Landry, William M . Mercer, Inc . (left 4 :35 p .m .) Carol Wescoat, Recording Secretary A quorum was present. * * * * * SEATING OF BOARD MEMBER Seating of re-elected Board member, Bill Young The Board congratulated Bill Young on being re-elected to the Board . Election of Board Chairperson/President MR. GRUNINGER NOMINATED BILL YOUNG AS CHAIRPERSON/PRESIDENT. MR. SEAY SECONDED . Ayes : Nays : Absent: Abstention : The motion carried . Gruninger, Lombardi , Seay None Burns, Gryglewicz Young Discussion ensued relating t o Mr. Gryg lewicz' required attendance of meetings . APPROVAL OF MINUTES MR. SEAY MOVED TO APPROVE THE MINUTES OF THE SPECIAL PENSION BOARD MEETING OF SEPTEMBER 30, 1997 . MR. GRUNINGER SECONDED . Ayes : Nays : Absent: The motion carried. Young, Gruninger, Lombardi , Seay None Burns, Gryglewicz Mr. Gruninger had not completed the minutes of the regular meeting of October 9, 1997 . The approval was tabled until the next Board meeting . MR. SEAY MOVED TO TABLE THE APPROVAL OF MINUTES FOR OCTOBER 9, 1997. MS . LOMBARDI SECONDED . Ayes : Nays : Absent : The motion carried . Young, Gruninger, Lombardi , Seay None Burns, Gryglewicz MR. SEAY MOVED TO APPROVE THE MINUTES OF THE JOINT PENSION BOARD MEETING OF OCTOBER 27, 1997. MS. LOMBARDI SECONDED . Ayes : Nays : Absent : The motion carried . Young, Gruninger, Lombardi, Seay None Burns, Gryglewicz MR. SEAY MOVED TO APPROVE THE MINUTES OF THE TELEPHONE POLL OF DECEMBER23 , 1997 . MR. GRUNINGER SECONDED . Ayes : Nays : Absent: Young, Gruninger, Lombardi , Seay None Burns, Gryglewicz Mr. Seay commented on his reason for voting nay . He was not in favor of what has g one on with John ... what John has done . He wanted to provide the benefit payment and then determine action . The motion carried . Firefighters Pension Board Meeting 2 • • • • • * * * * * OLD BUSINESS Discussion of John Blanchard Mr. Gruninger commented about a phone call from John Blanchard . John had told him he would fax a copy of his corporate return that day . No fax of the return had been received . Chairperson Young stated Mr. Blanchard had failed to provide information to prove eligibility . Discussion ensued. Mayor Bums arrived 3 :25 p .m . Discussion ensued relating to other possible methods of obtaining a copy of the corporate return and the period of time Mr. Blanchard should not have received benefits, and a refund should be sought by the Board . Mayor Bums suggested a waiver of some sort be signed by 20% Supplemental Disability applicants stating the recipient will provide tax returns . Discussion ensued related to the requiring tax returns or other items as proof of continued eligibility . Ms. Wescoat relayed that Mr. Brotzman had indicated his office will request a refund of benefit payments from Mr. Blanchard . Discussion followed relating to the timing of starting the corporation and Mr. Blanchard 's duties involving the corporation . MAYOR BURNS MOVED TO REQUEST A REFUND OF BENEFIT PAYMENTS FROM JOHN BLANCHARD FROM OCTOBER 1995 , WHICH WAS THE DATE THE CORPORATION STARTED . MR. GRUNINGER SECONDED . Chairperson Young asked if the request of funds would be pending receipt of the corporate tax return . Or, is the Board's intention to request the funds . The Mayor commented that even with the corporate return , the bottom line would still be his physical disability . Discussion followed reviewing the granting of the 20% Supplemental Disability benefit. Ayes : Nays : Absent : The motion carried . Young, Bums, Gruninger, Lombardi, Seay None Gryglewicz • Mayor Bums left 4 :05 p.m . Firefighters Pension Board Meeting 3 Discussion of proposed plan document . The Board discussed the proposed plan document and the membership election. Mr. Landry suggested the effective date be January 1, 1998. Mr. Mazanec suggested providing Wallace Gough and Louis McKay with a form to elect an optional payout that would be included by the proposed plan document if the effective date is January 1, 1998 . The Board agreed that the proposed plan document should be placed on the City Council study session agenda. Mr. Brotzman should be the person who will put the plan document on the agenda. Costs associated with the plan document were discussed. Mr. Mazanec suggested delaying filing with the IRS until other amendments could be included . Agenda items were taken out of order. Deferred Retirement Option Plan (DROP) Mr. Landry reviewed guidelines for a Deferred Retirement Option Plan (DROP). A DROP plan allows participants who are eligible for normal retirement to accumulate additional retirement benefits by channeling retirement benefits into a form of money purchase plan while remaining employed . Mr. Gruninger inquired about costs associated with a DROP . Mr. Mazanec stated that the costs would be based on the details of the DROP. He also commented on the scarcity of participants and suggested combining police and fire . Discussion ensued relating to how DROP plans are working in other entities and the costs they are incurring . Patrick Landry and Don Mazanec left 4:35 p .m. NEW BUSINESS Notification of benefit request from Louis Doc McKay Louis Doc McKay has submitted his request for retirement benefits . His last date of employment will be January 31, 1998 . The Board will vote on his request for benefit at the next regular meeting . Firefighters Pension Board Meeting 4 • • • • Notification of benefit request from Wallace Gough Wallace Gough has submitted his request for retirement benefits. His last date of employment will be February 1, 1998 . The Board will vote on his request for benefit at the next regular meeting. * * * * * MEMBERS CHOICE Mr. Gruninger commented on the Mayor not attending meetings . Chairperson Young commented that Mr. Gryglewicz is not coming to meetings. Discussion related to attendance of meetings . The Board members agreed to meet on January 21, 1998, at 7:30 a.m., to work on a draft of the 20% Supplemental Disability ordinance . MR. SEAY MOVED TO ADJOURN. MS. LO-rvIBARDI SECONDED . • Meeting adjourned at 4 :50 p.m. • &~ WJ&Ck4- caro1 Wescoat Recording Secretary Firefighters Pension Board Meeting 5