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NON-EMERGENCY PENSION BOARD MEETING
October 11, 1994
A regular meeting of the Englewood Non-Emergency Pension Board was called to order
by Chairperson Richard Kahm, at 4: 11 p.m. in Conference Room A of the Englewood
City Hall, 3400 South Elati Street, Englewood, Colorado
Members Present:
Members Absent:
Others Present :
Richard Kahm, Chairperson
Gary Bowman, Council Appointee
LeRoy Da Vault, Council Appointee
Betty Goosman, Employee Representative
Jill Mees, Council Appointee
Frank Gryglewicz, Director of Financial Services
Alfred F. Vormittag, Jr., Council Member
None
Donald Mazanec, William M . Mercer, Inc .
Dan Brotzman, Assistant City Attorney
Carol Wescoat, Recording Secretary
A quorum was present.
* * * * *
Approval ofMinutes
MR. VORMITTAG MOVED TO APPROVE THE MINUTES OF THE REGULAR
MEETING OF JULY 12, 1994 AND THE JOINT BOARD MEETING OF JULY 26,
1994. MR. GRYGLEWICZ SECONDED .
Ayes:
Nays:
Absent:
The motion carried .
OLD BUSINESS
Kahm, Bowman, Davault, Goosman, Mees, Gryglewicz, Vormittag
None
None
* * * * *
Review of Colorado Public Pension Conference
Chairperson Kahm presented a review of the Colorado Public Pension Conference,
September 12-13, 1994; in Keystone, Colorado . He stated a primary concern that he
became aware of at the conference was the Board's fiduciary responsibility. He
recommended contacting Kenneth Phillips, a conference presenter to perform a special
presentation for all the Boards.
Chairperson Kahm also commented on the investment presentations . He voiced a concern
that the revised investment policy may be too lenient and create a potential for poor
investment choices, particularly bond investments. Mr. Gryglewicz explained that because
the investments were intended to be long term, the additional flexibility should create an
opportunity for better returns .
Discussion followed relating to the benefits of attending the conference and the benefits of
networking with other entities in similar circumstances.
Chairperson Kahm presented his travel expenses for the board's approval.
MR. BOWMAN MOVED TO APPROVE PAYMENT OF THE CONFERENCE
ATTENDANCE EXPENSES FOR RICHARD KAHM OF $309 .24 . MS GODSMAN
SECONDED.
Ayes :
Nays :
Abstention
Absent:
The motion carried .
NEW BUSINESS
Bowman, Da Vault, Goosman, Mees
Gryglewicz, Vormittag
Kahm
None
Consideration of pension request for Joy Gautier
Chairperson Kahm reviewed Joy Gautier's request for a normal retirement benefit at age
70 Yi . Ms . Gautier has elected the Lifetime Only Retirement Benefit.
MS . MEES MOVED TO APPROVE THE RETIREMENT LIFETIME ONLY
BENEFIT IN THE AMOUNT OF $287. 75 FOR JOY L. GAUTIER TO BE
EFFECTIVE AUGUST 1, 1994. MR. VORMITTAG SECONDED.
Ayes :
Nays :
Absent:
The motion carried.
Mr. Mazanec left .
Kahm, Bowman, Da Vault, Goosman, Mees, Gryglewicz, Vormittag
None
None
Discussion of request for actuaries formal proposal
Discussion ensued relating to the process of requesting proposals from actuaries .
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MR. VORMITTAG MOVED TO PROCEED WITH THE REQUEST FOR FORMAL
PROPOSAL FROM ACTUARIES AND A SUMMARY OF APPLICANTS BE
PROVIDED AT THE NEXT BOARD MEETING IN JANUARY. MS . MEES
SECONDED.
Ayes :
Nays:
Absent:
The motion carried .
Kahm, Bowman, DaVault, Goosman, Mees, Gryglewicz, Vormittag
None
None
Mr. Kahm adjourned the meeting at 5 :02 p .m .
Carol Wescoat
Recording Secretary
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