HomeMy WebLinkAbout2009-11-10 NEERB MINUTESNONEMERGENCY EMPLOYEES RETIREMENT BOARD MEETING
November I 0, 2009
Board Member Gryglewicz called the regular meeting of the Englewood NonEmergency Employees Retirement Plan
Board to order at 4:02 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.
Approval of Minutes
Frank Gryglewicz, Director of Finance and Administrative Services
Gary Bowman, Council Appointee
Mahendra Patel, Employee Representative
Bradley Hagan, Secretary, Employee Representative
John Moore, Council Member
Brandon Williams , Chairperson , Council Appointee (with notice)
Douglas Fiddler, Buck Consultants
Wendy Dominguez, Innovest Portfolio Solutions
Gordon Tewell, Innovest Portfolio Solutions
* * * * *
MR. BOWMAN MOVED TO APPROVE THE MINUTES OF THE AUGUST 11, 2009 REGULAR MEETING. MR.
PATEL SECONDED.
Ayes:
Nays:
Absent:
The motion carried.
Bowman , Gryglewicz, Hagan, Patel , Moore
None
Williams
Innovest Portfolio Solutions, LLC
Mr. Tewell and Ms . Dominguez reviewed the third quarter fund performance rep011 . Innovest will be the asset allocation
review to the February 20 I 0 meeting. Ms. Dominguez reminded the Board that Principal has been notified of the intent to
redeem, but this it is not likely to happen for several months .
The candidates for replacing Marsico are .Allianz RCM Large Cap Growth and Rainier Large Cap equity. Innovest's
recommendation is Allianz RCM Large Cap Growth. Mr. Tewell stated that Allianz appears to be a better mix with the
Dodge & Cox Value Fund .
The Board discussed the funds and the process of changing large capital growth funds. The Board reviewed the potential
of recapturing commission as an offset to the management fees. The recapture program should be available with Allianz.
MR. MOORE MOVED TO REPLACE MARISCO AS THE LARGE CAP GROWTH FUND WITH ALLIANZ RCM
LARGE CAP FUND. MR. BOWMAN SECONDED .
Ayes:
Nays:
Absent:
The motion carried.
Bowman , Gryglewicz, Hagan, Patel, Moore
None
Williams
Consideration of Retirement Benefit for Susanne Koontz
Susan Koontz was employed by the City from September 1, 1997 to May 14, 2004. Ms. Koontz requested a Regular Early
Retirement at age 62.
MR. BOWMAN MOVED TO APPROVE THE 50% JOINT AND SURVIVOR MONTHLY BENEFIT OF $295.24 FOR
SUSANNE KOONTZ BEGINNING OCTOBER I, 2009 . MR. PATEL SECONDED .
Ayes:
Nays:
Absent:
The motion carried.
Bowman, Gryg lewicz, Hagan , Patel, Moore
None
Will iams
Notification of Retirement Benefit for Joseph Plizga
Joseph Plizga is a former employee with a deferred vested benefit. Mr. Plizga attains age 65 during November. His
paperwork to commence be nefit has not bee n received . Action will taken during the next Board meeting .
Notificatio n of Death of Douglas Jarred
Douglas Jarred is a former employee with a deferred vested benefit. Mr. Jarred died August 16 , 2009 and will not have
attained age 55 until 2015. No action is necessary unt il that time or if his spouse as named beneficiary requests a lump -
s um distribution.
Member Choice
The next regu lar Boa rd meeting is scheduled for February 9, 20 I 0.
The Board adjourned at 5:02 p.m.
Carol Wescoat
Recording Secretary
2 orz
NonEm c rg ency Employee Retirement Boa rd Meeting