HomeMy WebLinkAbout1998-01-13 NEERB MINUTES'
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NON-EMERGENCY PENSION BOARD MEETING
January 13, 1998
A regular meeting of the Englewood Non-Emergency Pension Board was called to order
by Chairperson Richard Kahm, at 4 :00 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
LeRoy Da Vault, Council Appointee
Frank Gryglewicz, Director of Financial Services
Roberta Skrivan, Employee Representative
Beverly Bradshaw, Council Member
Vacancy, Council Appointee
Carol Wescoat, Recording Secretary
Patrick Landry, William M . Mercer, Inc .
A quorum was present.
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NEW COUNCIL MEMBER
Chairperson Kahm welcomed the Board's City Council representative, Beverly Bradshaw.
APPROVAL OF MINUTES
MR. GRYGLEWICZ MOVED TO APPROVE THE MINUTES OF THE REGULAR
MEETING OF OCTOBER 8, 1997 , AND THE JOINT BOARD MEETING OF
OCTOBER27, 1997 . MS . SKRIVAN SECONDED .
Ayes :
Nays :
Absent :
Abstention :
The motion carried .
OLD BUSINESS
Kahm , Bowman, Da Vault, Gryglewicz, Skrivan
None
None
Bradshaw
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Discussion of possible benefit changes
Chairperson Kahm reviewed the request for plan changes that is scheduled to go before City
Council. Discussion followed including using a "reserve fund" as a method of funding the
liability incurred by the plan changes .
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NEW BUSINESS
Consideration of benefit request for Robert Reynolds
Robert Reynolds has requested retirement benefits . Mr. Reynolds was hired October 24,
1975 , and his last day was October 24 , 1997.
MR. GRYGLEWICZ MOVED TO APPROVED THE MONTHLY 50% JOINT AND
SURVIVOR BENEFIT FOR ROBERT REYNOLDS IN THE AMOUNT OF $639 .52 ,
EFFECTIVE NOVEMBER 1, 1997 . MS . BRADSHAW SECONDED .
Ayes :
Nays :
Absent :
The motion carried .
Kahm , Bowman, Bradshaw, Davault, Gryglewicz, Skrivan
None
None
Discussion of 1998 actuarial fee schedule from William M . Mercer, Inc .
MR. GRYGLEWICZ MOVED TO APPROVE WILLIAM M . MERCER, INC ., 1998
ACTUARIAL FEES IN THE AMOUNT OF $16 ,000 . MS . BRADSHAW SECONED .
Ayes :
Nays :
Absent :
The motion carried.
Kahm , Bowman, Bradshaw, DaVault, Gryglewicz, Skrivan
None
None
Discontinuance of benefit for Alfred Rhoades .
Alfred Rhoades died on December 9, 1997 . The retirement plan payout for Mr. Rhoades
provided benefits payable for his lifetime or a minimum of 120 months certain. The
payments began during 1985 . The last of the 120 payments was made in 1995 . A
certified copy of the death certificate has been received . No further benefits are due .
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MEMBERS CHOICE
Consideration of benefit request for Robert Burgener
Robert Burgener has requested retirement benefits . Mr. Burgener was hired April 2 , 199 0,
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and opted out of the plan with a promotion on July 22 , 1992 . Mr. Burgener has resigned •
employment effective December 31 , 1997 .
Non-Emer ge ncy Pension Board Meeting
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MR. GR YGLEWICZ MOVED TO APPROVED THE MONTHLY LIFETIME AND
TEN YEAR CERTAIN BENEFIT FOR ROBERT BURGENER IN THE AMOUNT OF
$102 .69 , EFFECTIVE JANUARY 1, 1998 . MS . SKRIV AN SECONDED .
Ayes:
Nays :
Absent:
The motion carried .
Kahm, Bowman, Bradshaw, Da Vault , Gryglewicz, Skrivan
None
None
Consideration of benefit request for the beneficiary of Clarence Long
Clarence Long died on October 11 , 1997 . The retirement plan payout for Mr. Long
provided benefits payable for his lifetime or a minimum of 120 months certain . The
payments began June, 19 89 . The last of the 120 payments will be made on May, 1999 . A
certified cop y of the death certificate has been received .
MS . SKRIV AN MOVED TO APPROVE THE BENEFICIARY, MARY NORDEN, BE
PROVIDED A MONTHLY BENEFIT IN THE AMOUNT OF $744.47, EFFECTIVE
NOVEMBER, 1997 AND CONTINUE UNTIL MAY, 1999 . MR. GRYGLEWICZ
SECONDED .
Ayes :
Nays :
Absent:
The motion carried .
Kahm, Bowman, Bradshaw, Davault, Gryglewicz, Skrivan
None
None
Mr. Da Vault inquired about the current market fluctuations .
Deferred Retirement Option Plan (DROP)
Mr. Landry reviewed guidelines for a Deferred Retirement Option Plan (DROP). A
DROP plan allows participants who are eligible for normal retirement to accumulate
additional retirement benefits by channeling retirement benefits into a form of money
purchase plan while remaining employed .
The Police Officers Pension Board and Firefighters Pension Board are considering adding
the benefit to their plans .
Board Member Election
• Chairperson Kahm 's term expires on February 1, 1998 . An election will be held to fill the
position .
Non-Emergency P ension Board Meetin g
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The meeting adjourned at 4:37 p.m.
Carol Wescoat
Recording Secretary
Non-Emergency Pension Board Meeting
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