HomeMy WebLinkAbout2001-02-13 NEERB MINUTES• •
NON-EMERGENCY RETIREMENT BOARD MEETING
February 13 , 2001
The regular meeting of the Englewood Non-Emergency Retirement Board was ca ll ed to order by
Cha irp erson Rick Kahm, at 4:05 p.m. in the Adm ini strative Services Confe rence Room of the
Civ ic Center, 1000 Eng lewo od Parkway, E nglewood, Co lorad o.
M em be rs Present:
Members Absent:
Others Present:
A quorum was present.
Approva l of Minutes
Richard Kahm, Chairperson
Gary Bowman , Cou ncil Appointee
Bill Belt, Council Appointee
Beverly Bradshaw, Council Member (arrived 4:07 p.m.)
Ernestine Campbe ll , Emp loyee Representative
LeRoy DaVault, Counci l Appointee
Frank Gryg lewicz, Director of Fina nce a nd Administrative Se rvices (with
notice)
Dan Brotzman, City Attorney
Susan Eaton, Human Resources Director
Dale Connors, Watershed Investment Co nsu lt a nts
Kevin Yoshida, Watershed Investment Consu lt ants
Diane Hunt , Buck Consu lt ants
Cindy Birley , Attorney , Davis Graham & Stubbs
* * * * *
MR . BELT MOVED TO APPROVE THE MINUTES OF THE NOVEMBER 14, 2000
REGULAR MEETING. MR . BOWMAN SECONDED .
Ayes:
Nays:
Absent:
The motion ca rri ed.
OLD BUSINESS
Kahm, Belt, Bowman, Campbe ll , Davault
No ne
Bradshaw , Gryglewicz
Discuss ion of proposed plan cha nges.
The Board reviewed the cha nges proposed at previous meetings. The Board requested clarification
be made that newly hired exempt emp loyees are e li g ibl e for the ICMA-RC MSC (m id-m a nager,
superviso ry, or confident ial) 401 a Plan (money purchase).
Ms. Eato n ex pr essed co nce rn wi th the opt io ns ava il ab le to e mpl oyees that rece ive a rec lass ificat io n
fro Ill a n exe mp t stat us to a no n-exelll pt stat us.
Ms. Brad s haw a rriv e d 4 :07 p.111 .
D isc uss io n e ns ued pe rta inin g to th e a bili ty of rec lass ifi ed e mpl oyees to ma ke the e lect io n to e ither
re lll a in in th e mo ney purc hase plan o r part ic ip ate in the defi ned be nefit pl a n . Rec lass ifi ed e mpl oyees
e lect in g th e o pt io n to pa rti c ip ate in th e defi ned benefit pl a n mu st ful fi ll the fi ve (5) year vest in g
per io d beg innin g o n the date of e lec ti o n to partic ipate. If the e mpl oyee, wi t h cont inu o us
e m ploy lll e nt , pa rt ic ip at ed in th e defi ned be nefit pla n w ithin fi ve (5) yea rs pri o r to the date of t hi s
e lect io n, t he e mpl oyee w ill rece ive serv ice c redit s fo r ves tin g purp oses onl y (fo r eac h year t he
e mpl oyee \Vas a me mb e r of th e defi ned be nefit pl a n). Se rv ice c redit s for be nefi t acc ru a l w ill beg in
to a cc um u late o n th e el ate of th e e lec ti o n.
Ms. Hunt requ este d th at s ub sec ti on 3-4-18 -3 be c la ri fie d to s pec ify t hat part icipant s e li g i ble fo r Rul e
of 88 w ill rece ive a n earl y ret ir ement subs idy .
T he Boa rd ag reed t he effect ive date s ha ll be Jul y I , 200 I a nd t he t ra nsfer of fu nd s s ha ll be do ne o n
.lul y3 1,2001.
NE W BUS INESS
Wate rs hed In ves tm e nt Co ns u I ta n ts
Mr. Co nn o rs rev iewed t he fund perfo rm ance for 2000. T he co mbin ed ga in fo r t he yea r was 0.8
pe rce nt.
Mr. Co nn o rs d ist ribu ted a re pl ace ment A ppe nd ix A for the 2 0 00 fn vestment P o li cy. T he
a p pe nd ix s pec ifies t he fund inv est ments.
MS B RA DSH A W M O VED T O AP PR OVE T HE PROPOSED A PP END IX A OF T H E
INVESTM ENT POLJCY. M R. BELT SECONDED .
Ayes:
N ays:
A bse nt:
T he mot io n carri ed.
Kah111 , Be lt, Bra ds haw, Bow ma n, Ca mpb e ll , DaVa ul t,
No ne
G ryg lew ic z
Co ns id e ra t io n of s ur v ivo r be nefit requ es t fro m C harl es Flemin g's S po use.
Mr. C ha rl es Fle min g req ues ted a 100% Jo in t and Sur v ivor be nefit at t he t im e of hi s retir emen t. Mr.
Fle min g d ied o n Nove mb er 2 6, 2000.
M R. BE LT M O V ED T O A PPR OVE T HE SPOUSAL SURV IVO R BENEF IT OF $7 07.86 FOR W.
FE RN FL EMf NG EFFECT fVE D ECEMBE R I, 2000. MR . BO WM AN SECON DED.
Ayes : Kah111 , Be lt , Brads haw , Bow ma n, Ca mp be ll , Davau lt ,
No n-[rncrgcn cy l'c ns ion 13oa rd Meetin g
2
J .
Nays:
Absent:
The motio n car ried.
None
Gryglewicz
Co ns id erat ion of ben efit for Robert Hit c hc ock.
Mr. Robert Hitchc ock was employed by the C ity from August 9, 1966 until July 25, 1999 when he
began to receive Long Term Disability (LTD) benefit. Mr. Hitchcock attai ned age 65 on January 8,
2001. I-l e wi II no lo nger be eligible for LTD benefits. He ha s requested a 100 % Joint and Survivor
retireme nt benefit as of Janu a ry I, 200 I.
MR. BELT MOVED TO APPROVE T HE 100% J O INT AND SURVIVOR MONTHLY BENEFIT
OF $1,758.87 FOR ROBERT HITCHCOCK EFFECT IV E JAN UAR Y 1, 2001. MS. CAMPB ELL
SECONDED.
Ayes:
Nays:
Absent:
The m ot io n carri ed.
MEMBER CHO ICE
Kahm , Belt, Brads haw, Bowman, Cam pbell , DaVault,
No ne
Gryg lewi cz
T he Board discussed addit ional benefit ca lcu lat io ns that s ho uld be included with the January 1,
200 I Actua ri a I Report. The mern be rs requested a calc ul ation of a o ne percent ( 1 % ) increase
effective Ja nuar y I, 2002 for pa rtici pant s retired as of January 1, 200 I .
MR. BELT MOVED TO ADJOURN . MR. BOWMAN SECONDED.
Ayes:
Nays:
Absent:
The m otio n carried.
Kahm , Belt , Bradshaw, Bowman , Ca mpb e ll , Davault
None
Gryg le w icz
The me eti ng ad j ou rned at 4:50 p.111.
Caro l Wescoat
Recording Secretary
No11 -E111 crg cncy l'cn s ion Board Me etin g