HomeMy WebLinkAbout1996-04-09 NEERB MINUTESNON-EMERGENCY PENSION BOARD MEETING
April 9, 1996
A regular meeting of the Englewood Non-Emergency Pension Board was called to order
by Chairperson Richard Kahm, at 4 :0 5 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.
Seating of Board Members
Richard Kahm, Chairperson
Gary Bowman, Council Appointee
LeRoy Davault, Council Appointee
Robe11a Skrivan, Employee Representative
Jill Mees, Council Appointee (arrived 4: 15)
Frank Gryglewicz, Director of Financial Services
Alfred F. Vormittag, Jr ., Council Member
Dan Brotzman, City Attorney
Don Mazanec, William M . Mercer, Inc .
Carol Wescoat, Recording Secretary
* * * * *
Chairperson Kahm welcomed new employee representative, Roberta Skrivan and
reappointed Board Members LeRoy DaVault and Gary Bowman .
Approval of Minute s
MR. GR YGLEWICZ MOVED TO APPROVE THE MINUTES OF THE REGULAR
MEETING OF JANUARY 9, 1996, AND THE TELEPHONE POLL OF MARCH 13,
1996 . MR . BOWMAN SECONDED .
Ayes:
Nays:
Absent:
Abstention:
The motion carried.
OLD BUSINESS
Kahm, Bowman, Gryg lewicz, Davault, Vormittag
None
Mees
Skrivan
* * * * *
Ms . Mees arriv e d at 4:15.
Signing of Updated Investment Policy, Agreements for Investment Managers and
Custodial Bank Services
The board members signed the Updated Investment Policy, Agreements for Investment
Managers and Custodial Bank Services .
Review of Dodge & Cox transactions
Mr. Gryglewicz reviewed the Dodge and Cox transactions for the quarter.
NEW BUSINESS
Review of 1995 fees charges by William M. Mercer, Inc.
The board members reviewed fees charged by William M. Mercer, Inc. for the period .
Mr. Gryglewicz explained the issues regarding investment performance fees. Mr.
Gryglewicz has requested a more detailed invoice from Mr. Connors . Mr. Connors was
under the assumption that billing was on a flat fee basis. A flat fee basis for the investment
performance had not been approved by the Boards .
Mr. Gryglewicz stated that a request for formal proposal (RFP) has not been done for
investment performance evaluation service providers. He also stated that since the Boards
have recently completed RFP's for actuarial services and investment managers the next
step to fulfill the fiduciary responsibility is to perform an RFP and evaluation of this
service. The Board will evaluate the necessary services and consider a flat fee
compensation. Mr. Mazanec will request Mr. Connors provide additional fee and service
information at the May 1, 1996, Joint Pension Board Meeting.
LeRoy Davault left 4:43 p.m.
MR. GRYGLEWICZ MOVED TO ADJOURN. MR. BOWMAN SECONDED.
Ayes:
Nays :
Absent:
The motion carried .
Kahm, Bowman, Gryglewicz, Mees, Vormittag
None
Davault
Mr . Kahm adjourned the meeting at 4:45 p .m.
U0C WUe ~
Carol Wescoat
Recording Secretary
Non-Emergency Pension Board Meeting
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