HomeMy WebLinkAbout1999-01-12 NEERB MINUTES•
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NON-EMERGENCY PENSION BOARD MEETING
January 12, 1999
A regular meeting of the Englewood Non-Emergency Pension Board was called to order
by Chairperson Richard Kahm, at 4 :03 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
Gary Bowman, Council Appointee
Beverly Bradshaw, Council Member
Frank Gryglewicz , Director of Financial Services
Roberta Skrivan, Employee Representative
Bill Belt, Council Appointee (no notice)
LeRoy Davault, Council Appointee(no notice)
William Fomia, Buck Consultants
A quorum was present.
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Approval of Minutes
MR. GRYGLEWICZ MOVED TO APPROVE THE MINUTES OF THE NOVEMBER
4 , 1998 , REGULAR MEETING, AND THE NOVEMBER 18, 1998 SPECIAL
MEETING. MS . SKRIV AN SECONDED .
Ayes :
Nays :
Absent :
The motion carried .
OLD BUSINESS
Kahm, Bowman, Gryglewicz, Bradshaw, Skrivan
None
Belt, Davault
Discussion of Deferred Retirement Option Plan (DROP)
Chairperson Kahm and Ms . Skrivan held three meetings with employee participants to
discuss the DROP and other benefit enhancements . The general consensus of the
employees is to look at a three-year Deferred Retirement Option Plan (DROP). The
employees are still requesting comparable funding of the five-year DROP and be used for
future benefit enhancements for retirees .
Discussion followed regarding the option preferred by the employees to provide a benefit
enhancement for both current employees and retirees . An issue that was brought up at the
employee meetings was most employees do not benefit from the DROP unless they can retiree
under Rule of 88 .
The Board discussed funding options available to provide benefits .
MR. GRYGLEWICZ MOVED TO RECOMMEND TO CITY COUNCIL A THREE-YEAR
DEFERRED RETIREMENT OPTION PLAN (DROP) AND KEEP IN RESERVE THE
AMOUNTS FOR FUNDING A FIVE-YEAR DROP FOR FUTURE RETIREE BENEFIT
ENHANCEMENTS .
Ayes:
Nays:
Absent :
The motion carried .
Kahm, Bowman, Gryglewicz, Bradshaw, Skrivan
None
Belt, Davault
Discussion of fee proposal from Kutak Rock
MS . SKRIV AN MOVED TO ACCEPT THE FEE PROPOSAL FROM KUT AK ROCK TO
PREP ARE PLAN AMENDMENTS . MS . BRADSHAW SECONDED .
The Board discussed the fees to add the DROP, update the Plan document, and file
with the IRS.
Ayes :
Nays :
Absent :
The motion carried .
Kahm, Bowman, Gryglewicz , Bradshaw, Skrivan
None
Belt, Da Vault
Discussion of Request For Proposal for Performance Evaluation
The Board discussed the possible dates for presentations from Buck Consultants, InnoVest
Portfolio , and Watershed Investments. The Board agreed on February 2 , 1999 , from 4 :00
p.m. to 5:30 p.m.
NEW BUSINESS
Consideration of benefit request from Ray Robbins
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Ray Robbins , has requested a 100% Joint and Survivor retirement benefit. Mr. Robbins' last
date of employment was October 2, 1998 . •
Non-Emergency Pension Board Meeting
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MR. GRYGLEWICZ MOVED TO APPROVE THE 100% JOINT AND SURVIVOR
BENEFIT FOR RAY ROBBINS IN THE AMOUNT OF $507 . 97 PER MONTH, AS OF
NOVEMBER 1, 1998 . MS . SKRIV AN SECONDED .
Ayes :
Nays :
Kahrn, Bowman, Gryglewicz, Bradshaw, Skrivan
None
Absent: Belt, Da Vault
The motion carried .
Notification of benefit request for Burton Vance
Mr. Burton Vance has submitted his request for benefits to commence after his termination
date of February 28 , 1999. The Board will take action on the request for benefits at the next
Board meeting .
MEMBER CHOICE
No items were discussed .
The meeting adjourned at 4:24 p.m .
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Carol Wescoat
Recording-Secretary
Non-Emergency Pension Board Meeting
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