HomeMy WebLinkAbout1997-07-16 NEERB MINUTES·,4
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NON-EMERGENCY PENSION BOARD MEETING
July 16, 1997
A regular meeting of the Englewood Non-Emergency Pension Board was called to order
. by Chairperson Richard Kahm, at 3:45 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
LeRoy Davault, Council Appointee (arrived 4 :00 p.m .)
Frank Gryglewicz, Director of Financial Services
Roberta Skrivan, Employee Representative
Alfred F . Vormittag, Jr., Council Member
Gary Bowman, Council Appointee (with notice)
Patrick Landry, William M . Mercer, Inc .
Carol Wescoat, Recording Secretary
A quorum was present.
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Agenda items were taken out of order because of lack of quorum .
Review of William M . Mercer, Inc . January I, 1997, actuarial report .
Mr. Landry reviewed the actuarial report and their study on costs of improved benefits .
Mr. Davault arrived 4 :00 p .m.
Discussion followed pertaining to the benefit needs of participants and the costs related to
improved benefits . Other discussion included the possibility of benefit changes that would
not require additional funding .
MR. VORMITT AG MOVED TO APPROVE INCURRING FEES (AMENDED TO
NOT EXCEED $1,000) FOR WILLIAM M . MERCER INC. TO CONDUCT AN
ADDITIONAL ACTUARJAL STUDY OF A BENEFIT CHANGE BETWEEN 80 AND
88 FOR THE RULE OF 88 FORMULA (WHEN ADDED TO THE EXPENSE OF THE
BENEFIT ACCRUAL CHANGE TO 1.55% PER YEAR OF CREDITED SERVICE).
MR.GRYGLEWICZSECONDED .
Ayes :
Nays :
Absent:
The motion carried .
Kahm, Gryglewicz, Skrivan, DaVault, Vormittag
None
Bowman
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Chairperson Kahm proposed that a telephone poll be completed upon completion of the
study to approve changes to the benefits .
Mr. Landry requested that Mr. Gryglewicz confirm with Mr. Brotzman that these changes
will not present TABOR issues .
APPROVAL OF MINUTES
MR. GR YGLEWICZ MOVED TO APPROVE THE MINUTES OF THE REGULAR
MEETING OF APRIL 8, 1997, AND THE TELEPHONE POLL OF MAY 23 , 1997 .
MS. SKRIV AN SECONDED .
Ayes :
Nays:
Absent:
The motion carried .
OLD BUSINESS
Kahm, Gryglewicz, Skrivan, Da Vault, Vormittag
None
Bowman
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Discussion of possible benefit changes
Chairperson Kahm stated that this item was completed when the William M . Mercer, Inc .,
discussed their study on costs of improved benefits when reviewing the actuarial report.
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NEW BUSINESS
Discontinuance of benefit for Harty F . Musser.
Harry F . Musser died on April 28 , 1997 . The retirement plan payout for Mr. Musser
provided benefits payable for his lifetime or a minimum of 120 months certain . The
payments began during 1982. The last of the 120 payments was made in 1992 . No
further benefits are due .
MR. VORMITT AG MOVED TO DISCONTINUE BENEFIT PAYMENTS TO HARRY
MUSSER AS OF APRIL 28 , 1997 . MS . SKRIV AN SECONDED.
Ayes :
Nays :
Absent :
The motion carried.
Kahm, Gryglewicz, Skri van, D aVault, Vormittag
None
Bowman
Non-Emergency Pension Board Meeting
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• Discontinuance of benefit for Foster Wills.
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Foster Wills died on July 1, 1990. The retirement plan payout for Mr. Wills provided
benefits payable for his lifetime or a minimum of 120 months certain. The payments began
~ September 1, 1987 . The last of the 120 payments will be made on the August 29 , 1997.
No further benefits are due .
MR. VORMITT AG MOVED TO DISCONTINUE BENEFIT PAYMENTS TO THE
BENEFICIARY OF FOSTER WILLS AS OF AUGUST 29, 1997 . MS . SKRIV AN
SECONDED .
Ayes :
Nays:
Absent:
The motion carried.
Kahm, Gryglewicz, Skrivan, DaVault, Vormittag
None
Bowman
MR. GRYGLEWICZ MOVED TO ACCEPT THE WILLIAM M . MERCER, INC.,
JANUARY 1, 1997 ACTUARIAL REPORT . MR. VORMITTAG SECONDED .
Ayes :
Nays:
Absent:
The motion carried.
MEMBERS CHOICE
Kahm, Gryglewicz, Skrivan, DaVault, Vormittag
None
Bowman
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Chairperson Kahm acknowledged the resignation ofJill Mees. Ms. Mees moved out of the
City.
The Board considered a member attending the Colorado Public Pension Conference . No
· members of the Board will attend.
MR. VORMITT AG MOVED TO AMEND THE MOTION FOR INCURRING FEES
FOR WILLIAM M. MERCER, INC., TO NOT EXCEED $1,000. MS. SKRIV AN
SECONDED .
Ayes:
Nays:
Absent:
The motion carried .
Kahm, Gryglewicz, Skrivan, DaVault, Vormittag
None
Bowman
Non-Emergency Pension Board Meeting
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• The meeting adjourned at 4 :35 p .m .
~ifu/~~
Carol · W escoat
~ Recording Secretary
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Non-Emergency Pension Board Meeting
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