HomeMy WebLinkAbout2008-08-12 NEERB MINUTESNONEMERGENCY EMPLOYEES RETIREMENT BOARD MEETING
August 12 , 2008
Chairperson Williams called the regular meeting of the Englewood NonEmergency Employees Retirement Plan
Board to order at4:05 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.
Brandon Williams , Chairperson, Council Appointee
Frank Gryglewicz, Director of Finance and Administrative Services
Gary Bowman, Council Appointee
Bradley Hagan , Secretary, Employee Representative
John Moore , Council Member
LeRoy Davault, Council Appointee (Notice)
Mahendra Patel , Employee Representative (No notice)
Douglas Fiddler, Buck Consultants
Wendy Dominguez, Innovest Portfolio Solutions
Steve Karsh, Innovest Portfolio Solutions
Mary Brauer, Attorney
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Approval of Minutes of the May 13, 2008 Meeting
MR . GRYGLEWICZ MOVED TO APPROVE THE MINUTES OF THE MAY 13 , 2008 REGULAR MEETING
WITH THE CORRECTION OF THE MISSPELLING OF THE WORD "RECEIVING''. MR. BOWMAN
SECONDED.
Ayes :
Nays:
Absent:
The motion cmTied.
Bowman, Gryglewicz, Hagan, Moore, Williams
None
Davault, Patel
Discussion of Plan Document IRS Amendments for 2008.
Ms. Brauer explained the amendments are necessary to maintain the qualified status of the Plan Document. The Plan
Document will be filed with the IRS before year end 2008.
MR. GRYGLEWICZ MOVED TO RECOMMEND TO CITY COUNCIL THE APPROVAL OF THE PLAN
AMENDMENTS TO COMPLY WITH 2008 INTERNAL REVENUE SERVICE GUIDELINES. MR. BOWMAN
SECONDED.
Ayes:
Nays:
Absent:
The motion cmTied.
Bowman, Gryglewicz, Hagan, Moore, Williams
None
DaVault, Patel
Innovest Portfolio Solutions, LLC
Ms. Dominguez presented the Plan 's investment performance for the second quarter.
Ms . Dominguez and Mr. Karsh presented information explaining hedge funds as well as recommended funds . The
Board will review and consider adding a hedge fund of funds to the portfolio at the next board meeting .
Consideration of benefit for Maria Carmen Del Illascas.
Maria Cannen Del Illascas was employed by the City from July 24 , 2000 to March 10 , 2008 . Ms . lllascas attained age
65 prior to retirement. Ms . Illascas is requesting her benefit begin April 1, 2008 .
MR. GRYGLEWICZ MOVED TO APPROVE A LIFETIME ONLY MONTHLY BENEFIT FOR MARIA CARMEN
DEL ILLASCAS EFFECTIVE APRIL 1, 2008 IN THE AMOUNT OF $290.66. MR. HAGAN SECONDED .
Ayes:
Nays:
Absent:
The motion carried.
Bowman, Gryglewicz, Hagan , Moore, Williams
None
Davault, Patel
Consideration of DROP benefit for R. Donald Coatman.
R. Donald Coatman was employed by the City from February 16, 1082 to August 31 , 2008 . Mr. Coatman is eligible for
Special Early Retirement. Mr. Coatman is requesting his DROP benefit to begin September 1, 2008 .
MR. GRYGLEWICZ MOVED TO APPROVE A 100% JOINT AND SURVIVOR DROP MONTHLY BENEFIT FOR
R . DONALD COA TMAN EFFECTIVE SEPTEMBER 1, 2008 IN THE AMOUNT OF $2,467 .91 . MR. HAGAN
SECONDED.
Ayes:
Nays:
Absent:
The motion ca!l'ied.
Bowman , Gryglewicz, Hagan, Moore, Williams
None
Davault, Patel
Notification of Retirement App li cation for Nancy Fritz.
Nancy Fritz is eligible for benefits to commence ; however, she has not finalized the paperwork.
Consideration of benefit for Gilbe1t Smith .
Gilbe1t Smith was emp lo yed by the City from June 22, 1992 to September 11, 2006 . Mr. Smith has requested his Early
Retirement benefit begin September 1, 2008.
MR. GRYGLEWICZ MOVED TO APPROVE A LIFETIME ONLY MONTHLY BENEFIT FOR GILBERT SMITH
EFFECTIVE SEPTEMBER 1, 2008 IN THE AMOUNT OF $635 .1 2. MR. HAGAN SECONDED.
Ayes:
Nays:
Absent:
The motion ca!l'ied .
Bowman, Gryglewicz, Hagan, Moore , Williams
None
DaVault, Patel
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Non Emerge ncy Emplo yee Reti remen t Bo ard Mee tin g
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Discussion ofCPPC .
The Colorado Public Plan Coalition (CPPC) Annual Conference is September I 0-12 in Breckenridge.
MR. GRYGLEWICZ MOVED TO APPROVE USUAL AND COSTOMARY EXPENSES OF ANY BOARD
MEMBER ATTENDING THE CPPC. MR. MOORE SECONDED.
Ayes :
Nays:
Absent:
The motion carri ed .
Bowman , Gryglewicz, Hagan , Moore, Williams
None
Davault, Patel
Brandon Williams Report on CML Trustee Training
Mr . Williams did not attend th e C ML Trustee Training.
Board discussion of November 12 at 4:00 p .m. for next me eting
The next regular board meetin g is sc heduled for November I I and the City offices will be clo sed for the Veteran 's Day
Holiday. The Board agreed to mee t on November 12 at 4:00 p .m .
Member Choice
No items were discussed.
The Board adjourned at 5 :0 7 p .m.
Carol Wescoat
Recording Secretary
NonE merge ncy Employee Retirement Board Meeting
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