HomeMy WebLinkAbout1998-11-04 NEERB MINUTES• NON-EMERGENCY PENSION BOARD MEETING
November 4 , 1998
A regular meet ing 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 :
A quorum was present .
Richard Kahm, Chairperson
Bill Belt, Council Appointee
Gary Bowman, Council Appointee
Beverly Bradshaw, Council Member
Frank Gryglewicz, Director of Financial Services
Roberta Skrivan, Employee Representative
LeRoy DaVault, Council Appointee (with notice)
Carol Wescoat, Recording Secretary
Patrick Landry, William M . Mercer, Inc.
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• Approval ofMinutes
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MR . GRYGLEWICZ MOVED TO APPROVE THE MINUTES OF THE JULY 14 ,
1998 , REGULAR MEETING, AND THE AUGUST 6, 1998 AND SEPTEMBER 24 ,
1998 SPECIAL MEETINGS . MS . SKRIVAN SECONDED .
Ayes :
Nays :
Absent :
The motion carried .
OLD BUSINESS
Kahm, Belt, Bowman, Gryglewicz, Bradshaw, Skrivan
None
DaVault
Discussion of Deferred Retirement Option Plan (DROP)
Mr. Landry presented the costs to add either a two, three or five year DROP to the plan .
Chairperson Kahm, Ms. Skrivan and Ms. Wescoat will meet with employees to get
membership input on proposed plan changes .
Mr. Landry explained why William M . Mercer, Inc. declined to respond to the request for
proposal for actuarial services .
Notification of benefit request for Coleen Hixon
Former employee, Coleen Hixon, attains age 55 on November 16 , 1998 . Ms. Hixon
requested benefits commence as of that date .
MR. GRYGLEWICZ MOVED TO APPROVE THE 100% JOINT AND SURVIVOR
BENEFIT FOR COLEEN HIXON IN THE AMOUNT OF $159 .67 AS OF DECEMBER 1,
1998 . MR. BELT SECONDED .
Ayes:
Nays :
Absent:
The motion carried .
Kahm, Belt, Bowman, Gryglewicz, Bradshaw, Skrivan
None
Davault
Review of William M . Mercer. Inc. Performance Evaluation
The Board reviewed the 1998 first and second quarter performance evaluations.
Consideration of request from Sheryl Rousses' beneficiary
Sheryl Rousses , died on October 10 , 1998 . Sheryl's spouse, Theodore Rousses, has
requested a lump sum distribution in the amount of $14 ,393 .00 .
MR. GRYGLEWICZ MOVED TO APPROVE A LUMP SUM DISTRIBUTION OF
$14,393 .00 . MS . BRADSHAW SECONDED .
Ayes :
Nays :
Absent:
The motion carried .
Kahm, Belt, Bowman, Gryglewicz, Bradshaw, Skrivan
None
Davault
Discussion of Request for Proposal
The Board discussed proposals received for actuarial services . The members agreed to
request presentations to the Board from Buck Consultants, Watson Wyatt, and Milliman and
Robertson . The presentations will be November 18 , 1998 .
Patrick Landry left 5 :02 p.m.
Non-Emergency Pension Board Meeting
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The Board discussed the proposals received for performance evaluation . All agreed to
postpone presentations until 1999 . The Board would like presentations from Buck
Consultants, Watershed Investments , and Inno Vest.
The Board agreed to request a fee proposal from Kutak Rock for changes to the plan
document.
The meeting adjourned at 5 :15 p .m.
Carol Wescoat
Recording Secretary
Non-Emergency Pension Board Meeting
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