HomeMy WebLinkAbout2001-05-08 NEERB MINUTES...
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NONEMERGENCY RETIREMENT BOARD MEETING
May 8, 2001
The regular meeting of the Englewood NonEmergency Retirement Board was called to order by
Chairperson Rick Kahm, at 4:00 p.m. in the Community Development Conference Room of the
Civic Center, l 000 Englewood Parkway, Englewood, Colorado.
Members Present:
Members Absent:
Others Present:
A quorum was present.
Approval of Minutes
Richard Kahm, Chairperson
Gary Bowman, Council Appointee
Bill Belt, Council Appointee (arrived 4:08 p.m.)
Beverly Bradshaw, Council Member
Ernestine Campbell, Employee Representative
LeRoy DaVault, Council Appointee( arrived 4:04 p.m .)
Frank Gryglewicz, Director of Finance and Administrative Services
None
Dale Connors, Watershed Investment Consultants
Kevin Yoshida, Watershed Investment Cons ultants
William Fomia, Buck Consultants
* * * * *
MS. BRADSHAW MOVED TO APPROVE THE MINUTES OF THE FEBRUARY 13, 2001
REGULAR MEETING AND THE MARCH 20, 2001 SPECIAL MEETING. MR.
GRYGLEWICZ SECONDED.
Ayes:
Nays:
Absent:
The motion carried.
Kahm, Bowman, Campbell, Bradshaw, Gryglewicz
None
Belt, DaVault
Mr. Fomia arrived 4:01 p.rn.
OLD BUSINESS
Discussion of plan changes and progress of participant meeting.
Ms. Wescoat said that eight of the meetings had been completed. The employees' response had been
good, albeit somewhat confused.
Mr. Gryglewicz said that the changes to both the Englewood Municipal Code and the ICMA-RC Plan
amendment had been completed .
Mr. DaVault arrived at 4:04 p.rn.
NEW BUSINESS
Watershed Investment Consultants
Mr. Connors reviewed the fund perfom1ance for the first quarter 2001.
Mr. Belt arrived 4:08 p.m.
Mr. Connors also included the fund earnings through April 30, 2001. The cmTent perforrnance
of the Plan assets had improved from the first quarter.
Notification of Frank Weith. III's death .
Ms. Wescoat said that she had received notification of Frank Weith's death. Mr. Weith passed
away during 1997. She commented that she had been unable to locate the beneficiary. Every
effort will be made to locate the beneficiary before the benefit payment is issued to the estate. If
necessary a telephone poll will be conducted to approved the benefit payment.
January L 2001 Actuarial Report by Buck Consultants .
Mr. Fomia reviewed the January 1, 200 I actuarial report. The recommended contribution for
2002 is 5.3%.
Mr. Fornia explained the difference between actuarial value and market value for contribution
calculation.
Mr. Fornia said that calculations for possible retiree increases will be done after withdrawals for
transfer to the money purchase plan are finalized. The full impact will be more easily
determ ined at that time.
MR. GRYGLEWICZ MOVED TO ACCEPT THE JANUARY 1, 2001 ACTUARIAL REPORT.
MR . BELT SECONDED.
Ayes:
Nays:
Absent:
The motion carried.
MEMBER CHOICE
Kahm, Belt, Bradshaw, Bowman, Campbell, Davault, Gryglewicz
None
None
No items were discussed.
MR. BELT MOVED TO ADJOURN. MS. CAMPBELL SECONDED.
Non -Emergency Pension Board Meeting
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..
A yes :
Nays:
Ab se nt:
The motion carried.
Kahm, Belt, Brad shaw, Bowman , Campbell , DaVault, Gryglewicz
None
None
The meeting adjourned at 4 :34 p.rn.
du£ tc4P1tkLf-
caro1 Wesco at
Recording Secretary
Non -Em ergency Pen sio n Board Meeting
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