HomeMy WebLinkAbout2008-02-12 NEERB MINUTESNONEMERGE NCY EMPLOYEES RETIREMENT BOARD MEETING
February 12 , 2008
Chairperson Williams called the re g ular meeting of the Englewood NonEmergency Employees Retirement Plan
Board to order at 4 : I 0 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.
Seating of Board Member
Frank Gryglewicz, Director of Finance and Administrative Services
Gary Bowman , Council Appointee
LeRoy Davault, Council Appointee
Mahendra Patel, Emp loyee Representative
Bradley Hagan , Secretary, Employee Representative
Brandon Williams, Chairperson , Council Appointee
John Moore, Council Member (by phone)
None
David Shishinsky, Buck Consultants
Wendy Dominguez, Innovest Po1tfolio Solutions
* * * * *
The Board congratulated Mr. Patel on his re-election and Mr. Bowman on his re-appointment to the Board.
Election of President/Chairperson and Secretary
MR. GRYGLEWICZ NOMINATED BRANDON WILLIAMS AS PRESIDENT/CHAIRPERSON . MR.
BOWMAN SECONDED .
Ayes:
Nays:
Absent:
Abstention :
The motion carried .
Bowman, Davault, Gryglewicz, Hagan , Patel , Moore
None
None
Williams
MR. GRYGLEWICZ NOMINATED BRADLEY HAGAN AS SECRETARY. MR. PATEL SECONDED .
Ayes :
Nays:
Absent:
Abstention:
The motion caiTied.
Approval of Minutes
Bowman , DaVault, Gryglewicz, Williams , Patel, Moore
None
None
Hagan
MR . GRYGLEWICZ MOVED TO APPROVE THE MINUTES OF THE NOVEMBER 13, 2007 REGULAR
MEETING . MR. DAVAULT SECONDED.
Ayes:
Nays:
Bowman, DaVault, Gryglewicz, Hagan, Patel, Moore, Williams
None
Absent: None
The motion carried.
Innovest Portfolio Solutions, LLC
Ms . Dominguez presented the fourth quarter portfolio review . She indicated that Innovest will present the asset
allocation study to see if changes are necessary at the May meeting.
Discussion of optional calculations to be included with the 2008 actuarial report
The Board agreed that no optional studies will be included with the January 2008 actuarial report.
Notification of death of Grace Vannatta
Grace Vannatta retired in 1973 with a lifetime and ten years certain benefit. Ms. Vannatta passed away on December 2,
2007. No further benefits are due .
Notification of Death of Robert Hall.
Robe1t Hall, retiree, passed away on November 18, 2007. Mr. Hall elected a ten year certain and lifetime benefit at the
time of his retirement in 1988. The final payment was paid on November 30, 2007 . No further payments are due .
Consideration of benefit for beneficiary of Richard Smith .
Richard Smith worked for City from July 16, 1987 to May 17, 1999 and began receiving long-term disability benefits
May 17, 1999 . Date of death is November 22, 2007 at the age of 60 . His spouse, Nancy Smith is named beneficiary.
She will receive 50% of his accrued benefit for her lifetime and ten years certain beginning December 1, 2007
MR. GRYGLEWICZ MOVED TO APPROVE A SURVIVOR'S MONTHLY BENEFIT OF $357.90 FOR LIFETIME
AND TEN YEAR CERTAIN FOR NANCY SMITH, BENEFICIARY OF RICHARD SMITH BEGINNING
DECEMBER 1, 2007. MR. HAGAN SECONDED.
Ayes :
Nays:
Absent:
The motion carried.
Bowman, Davault, Gryglewicz, Hagan, Patel, Moore, Williams
None
None
Consideration of benefit for Gilbert Smith .
Gilbert Smith request commencement of retirement benefits but has not completed the his paperwork. Approval of the
benefit will be deferred until the May meeting.
Mountain Public Employee Retirement Systems Forum (Mountain PERS)-formerly Colorado PERS, April 28-29.
Board members agreed to notify Ms . Wescoat prior to March 15 if they will attend the Mountain PERS.
NonEmergency Employee Retirement Board Me et in g
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MR. GRYGLEWICZ MOVED TO APPROVE EXPENSES RELATED TO THE BOARD MEMBERS ATTENDING
MOUNTAIN PUBLIC EMPLOYEE RETIREMENT SYSTEMS FORUM. MR. BOWMAN SECONDED.
Ayes:
Nays:
Absent:
The motion carried .
Bowman, DaVault, Gryglewicz, Hagan, Patel, Moore, Williams
None
None
Discussion of possib le RFP for actuarial services.
The actuarial fees in 2007 were $14 ,7 50. Mr. Moore discussed the possibi lity of negotiating fees with Buck Consultants.
The Board agreed to review the fees in a year or two and look at doing an RFP at that time.
Review of 2007 attendance
The Board reviewed the 2007 attendance report and agreed that attendance was acceptable.
Member Choice
No items were discussed.
The Board adjourned at 4:52 p.m.
Carol Wescoat
Recording Secretary
NonEmergency Employee Retirement Board Me eting
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