HomeMy WebLinkAbout2013-02-26 NEERB MINUTES•
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NONEMERGENCY EMPLOYEES RETIREMENT BOARD MEETING
February 26 , 2013
Member Gryglewicz called the regular meeting of the Englewood NonEmergency Employees Retirement Plan Board to order at
4:05 p.m. in the Public Works Conference Room of the Civic Center, 1000 Englewood Parkway, Englewood, Colorado.
Members Present:
Members Absent:
Others Present:
A quorum was present.
Frank Gryglewicz, Director of Finance and Administrative Services
Bradley Hagan, Chairperson, Employee Representative (by phone)
James Jordon , Council Appointee
John Moore, Council Appointee
Mahendra Patel , Secretary, Employee Representative
Jim Woodward, Council Member
None
Jerry Huggins, Innovest Portfolio Solutions
Gordon Tewell , Innovest Portfolio Solutions
Diane Hunt, Gabriel Roeder Smith and Company
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Election of President/Chairperson
MR. GRYGLEWICZ NOMINATED BRAD HAGAN AS PRESIDENT/CHAIRPERSON. MR. MOORE SECONDED
Ayes :
Nays:
Absent:
Abstention:
The motion carried.
Approval of Minutes
Gryglewicz, Jordan , Moore, Patel, Woodward
None
None
Hagan
MR. PATEL MOVED TO APPROVE THE MINUTES OF THE NOVEMBER 13 , 2012 REGULAR MEETING. MR.
WOODWARD SECONDED.
Ayes:
Nays:
Absent:
The motion carried.
Gryglewicz, Hagan, Jordan, Moore, Patel, Woodward
None
None
lnnovest Portfolio Solutions. LLC
Mr. Tewell commented that the Denver Business Journal named lnnovest as one of the best places to work for 2012. The
company continues to grow and now has 28 employees.
Mr. Tewell reviewed the 2012 capital markets; he highlighted events that impacted the markets and overall market conditions.
Mr. Huggins covered the fourth quarter portfolio review and the analysis of each fund in the Plan. He indicated that a couple of
the funds are of concern and will continue to be monitored. The funds that are of a minor concern and will be addressed at the
May meeting and it will be determined if any changes are needed. The asset allocation evaluation will be presented at the May
meeting.
Discussion of Studies to include with January I, 2013 Actuarial Report
Ms. Hunt suggested that the information on the Defined Benefit/Defined Contribution study be updated. The Board agreed to
include the updated study with the report. Ms. Hunt reminded the Board that they will also review any changes that might be
necessary to the mortality tables used or the assumptions.
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Review of 2012 Board Attendance
Board reviewed the 2012 attendance. Discussion followed regarding the vacancy Bobbi Oxford 's resignation created . The City
Council will not address board vacancies until July.
Retirement Approvals and Notifications :
a. Consideration of DROP Benefit for Martha O 'Donnell
b. Consideration of DROP Benefit for Timothy Smith
c. Consideration of DROP Benefit for Lo Fong Chang
d. Consideration of DROP Benefit for Martin Robinson
e. Consideration of DROP Benefit for Harold Gary Wyse
f. Consideration of Retirement Benefit for James Hall (Mr. Hall has not completed the paperwork)
g. Consideration of DROP Benefit for Robert Stephenson
h . Notification of Retiree Patricia Crow 's Death
MR. WOODWARD MOVED TO APPROVE THE ITEMS LISTED ON THE BENEFIT APPROVALS AND
NOTIFICATIONS. MR. PATEL SECONDED.
Ayes: Gryglewicz, Hagan, Jordan , Moore, Patel , Woodward
Nays : None
Absent: None
The motion carried .
Member Choice
No items were discussed .
MR. MOORE MOVED TO ADJOURN. MR. PATEL SECONDED.
Ayes: Gryglewicz, Hagan, Jordan, Moore, Patel , Woodward
Nays: None
Absent: None
The motion carried .
The Board adjourned at 4:50 p.m.
Carol Wescoat
Recording Secretary
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No nEmer genc y Empl oyees Retirement Board Meetin g