HomeMy WebLinkAbout1997-10-08 NEERB MINUTES• NON-EMERGENCY PENSION BOARD MEETING
October 8, 1997
A regular meeting of the Englewood Non-Emergency Pension Board was called to order
by Chairperson Richard Kahrn, at 3 :50 p .m . in Conference Room A of the Englewood
City Hall, 3400 South Elati Street, Englewood, Colorado.
Members Present:
Members Absent :
Others Present:
A quorum was present.
APPROVAL OF MINUTES
Richard Kahrn, Chairperson
Gary Bowman, Council Appointee
LeRoy DaVault, Council Appointee (arrived 3 :52 p .m.)
Frank Gryglewicz, Director of Financial Services
Roberta Skrivan, Employee Representative
Alfred F . Vonnittag, Jr., Council Member
None
Carol Wescoat, Recording Secretary
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• MR. VORMITT AG MOVED TO APPROVE THE MINUTES OF THE REGULAR
MEETING OF JULY 16 , 1997. MS . SKRIV AN SECONDED .
•
Ayes :
Nays :
Absent :
The motion carried .
OLD BUSINESS
Kahrn, Bowman, Gryglewicz, Skrivan, Vormittag
None
Davault
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Discussion of possible benefit changes
Chairperson Kahm stated the requested study from William M. Mercer, Inc. had been
received. The Board had requested that William M . Mercer, Inc. provide possible benefit
changes without increasing current City contribution levels.
Mr. Gryglewicz reviewed the information provided by William M . Mercer, Inc .
Mr. Davault arrived 3 :52 p .m .
Discussion ensued related to consideration of benefit changes . Mr. Gryglewicz stated that,
currently the contribution level is greater than what is necessary to fund present benefits. He •
would like to discuss with Mr. Brotzman ifthe changes technically incur an unfunded liability,
and therefore a TABOR issue .
A brief interruption of the meeting to allow Chairperson Kahm to take a phone call .
Ms. Wesco at inquired if the accrual increase of 1. 5 5% would be for all service for current
employees or for service accrued after an effective date when the benefit is approved .
Mr. Gryglewicz stated it he thought it was to include all credited service for current
employees .
MR. GRYGLEWICZ MOVED TO ACCEPT THE WILLIAM M. MERCER, INC . REPORT
AND RECOMMEND TO ENGLEWOOD CITY COUNCIL, BENEFIT CHANGES TO
INCLUDE A "RULE OF 86" AND AN INCREASED 1.55% ACCRUAL PER YEAR OF
CREDITED SER VICE. MS . SKRIV AN SECONDED
Mr. Bowman inquired about the frequency of employees retiring under "Rule of 88 ".
Chairperson Kahm stated there were few cases . Mr. Gryglewicz added that health
insurance costs prohibits many employees from early retirement.
Ayes :
Nays :
Absent:
The motion carried.
Kahm, Bowman, Da Vault, Gryglewicz, Skrivan, Vormittag
None
None
Discussion followed related to reprinting of handbooks and other literature.
MR. VORMITTAG MOVED TO APPROVE SPENDING UP TO $2 ,000 ; TO
REPRINT HANDBOOKS AND OTHER LITERATURE IF CITY COUNCIL
APPROVES THE PROPOSED BENEFIT CHANGES. MS . SKRIV AN SECONDED .
Ayes :
Nays:
Absent :
The motion carried .
Kahm, Bowman, Da Vault, Gryglewicz, Skrivan, Vormittag
None
None
Mr. Brotzman arrived 4 :00 p .m.
Mr. Gryglewicz asked Mr. Brotzman about benefit changes ... will the changes technically
create an unfunded liability.
•
Mr. Brotzman stated that TABOR implications would be evaluated when the ordinance is •
prepared .
Non-Emergency Pension Board Meeting
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* * * * *
NEW BUSINESS
Notification of benefit request for Robert Reynolds.
Mr. Robert Reynolds provided notice of his intent to retire effective October 24, 1997. The
Board will review the request at the next meeting.
* * * * *
MEMBERS CHOICE
Mr. Vormittag expressed his gratitude to the NonEmergency Retirement Board. His term
on City Council will end on November 17, 1997 .
The meeting adjourned at 4 :08 p .m .
Carol Wescoat
Recording Secretary
Non-Emergency Pension Board Meeting
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