HomeMy WebLinkAbout2002-07-11 FPB MINUTES..
FIREFIGHTERS PENSION BOARD MEETING
July 11 , 2002
A regular meeting of the Englewood Firefighters Pension Board was called to order by
Chairperson Ken Holland at 4 :00 p.m. in the Public Works Conference Room of the
Englewood Civic Center, 1000 Englewood Parkway.
Members Present :
Members Absent:
Others Present:
A quorum was present.
Ken Holland , Chairperson, Employee Representative
Frank Gryglewic z, Director of Finance and Administrative Services
Gary Kasson , Council Appointee
Bev Bradshaw , Mayor
Jay Seay, Employee Representative
Michael Ballinger, Employee Representative (notice)
Carol Wescoat, Recording Secretary
Bill M0tTis, Fire and Po l ice Pension Association
Corey Martin, Fire and Po1ice Pension Association
Jim Phelps, Police Officers Pension Board Member
Norm Wood, Police Officers Pension Board Member
George Egri, Police Officers Pension Board Member
Dan Brotzman , City Attorney
* * * * *
FIRE AND POLICE PENSION ASSOCIATION INVESTMENT PRESENTATION
Mr. Morris presented the Fire and Police Pension Association (FPPA) Investment Overview .
He explained FPPA 's investment philosophy and objectives .
Mr. Phelps left at 4:47 p.m.
Discussion ensued regarding the selection of investments, periodic review of fund
allocations , investment policy, and reporting information to the Board .
Misters Morris, Martin, Wood, and Egri left at 5:00 p.m .
APPROVAL OF MINUTES
MR. KASSON MOVED TO ACCEPT THE MINUTES OF THE REGULAR BOARD
MEETING OF APRIL 11 , 2002 . MAYOR BRADSHAW SECONDED .
Ayes: Holland , Bradshaw, Gry glewic z, Kasson
Nays : None
Absent:
Abstention:
The motion calTied.
OLD BUSINESS
Ballinger
Seay
No items were discussed .
NEW BUSINESS
* * * * *
Review of January 1, 2002 Firefighters Actuarial Report
Mr. Gryglewicz reviewed the January 1, 2002 Firefighters Actuarial Report .
MR. KASSON MOVED TO ACCEPT THE JANUARY 1, 2002 FIREFIGHTERS ACTUARIAL
REPORT. MR. GRYGLEWICZ SECONDED .
Ayes:
Nays:
Absent:
The motion canied .
Holland, Bradshaw, Gryglewicz, Kasson, Seay
None
Ballinger
The Board discussed the proposed plan amendments prepared by the actuaries. The increased
actuarial liability to add the amendments appeared to be understated . Ms. Wescoat will review
the items with the actuaries and notify the Board of any corrections .
Review of FPPA Volunteer and Firefighters Plan Statements
Mr. Gryglewicz reviewed the FPP A statements .
The Board requested that the January 1, 2001 Volunteer Firefighters Actuarial report be added to
the next regular agenda . The Board would like to re-visit the possibility of increasing the retiree
benefits.
Consideration of Survivor Benefit for Howard Homyak ' s Spouse
Howard Homyak, retired volunteer firefighter , passed away June 2, 2002 . Mr. Homyak is
survived by his wife , Helen Homyak.
Fir efighters Pension Board Meeting
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MAYOR BRADSHAW MOVED TO APPROVE THE SURVIVOR BENEFIT FOR HELEN
HOMYAK IN THE AMOUNT OF $225 PER MONTH EFFECTIVE JULY 1, 2002 AND THE
SU PPLEMENTAL DEATH BENEFIT OF $100. MR. GRYGLEWICZ SECONDED .
Ayes :
Nays:
Absent:
The motion carried.
MEMBERS CHOICE
Holland, Bradshaw, Gryglewicz, Kasson , Seay
None
Ballinger
* * * * *
Ms. Wescoat notified the Board that the Internal Revenue Service has issued a Letter of
Determination for the Plan based upon the Board adopting a plan amendment proposed by
Tim Parsons , Attorney-at-Law , Gorsuch Kirgis. The amendment does not materially change
the Plan , its eligibility or benefits.
MR. GRYGLEWICZ MOVED TO APPROVE THE PROPOSED PLAN AMENDMENT.
MAYOR BRADSHAW SECONDED .
Ayes:
Nays:
Absent:
The motion carried .
Holland, Bradshaw, Gryglewicz, Kasson, Seay
None
Ballinger
Die Board received an invitation to the Board and Commissions Appreciation Night,
August 26, 2002 at 5 :30 p .m.
MR. SEAY MOVED TO ADJOURN. MR. KASSON SECONDED .
Ayes:
Nays:
Absent:
The motion carried.
Holland, Bradshaw , Gryglewicz, Kasson , Seay
None
Ballinger
Meeting adjourned at 5:45 p.m.
Carol Wescoat
Recording Secretary
Fire fi ghters Pe nsion Board Meeting
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