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Home My WebLink About2002-02-12 NEERB MINUTESNONEMERGENCY RETIREMENT BOARD MEETING February 12, 2002 The regular me et in g of the Englewood NonEmerge nc y R e tirement Board was called to order by Board Member Frank G1yglewicz at 4:02 p .m . in the Administrative Services Conference Room of the Civic Cente r, 1000 Eng le wood P a rkway, Englewood, Colorado. M e mbers Present: Membe rs Absent: Others Present: A quorum was present. Brandon Williams, Chairperson Gary Bowman, Council Appointee Ernestine Campbell, Employee Repres entative Frank Gryglewicz, Direc tor of Finance and Admin istrative Services Bradley Hagan , Emp loyee Representati ve Jolm Moore, Council Member LeRoy DaVault, Co uncil Appointee (no no tice) Dale Cormors, Watershed Inv es tment Consu lt ants Kevin Yoshida, Watershed Investment Consultants Diane Hunt, Buck Consultants Su san Eaton, Director of Human Resources * * * * * SEATING OF BOARD MEMBERS Seating of Jolm Moore, Brandon Williams, and Bradley Hagen Mr. Gryglewicz welcomed the new board members . Mr. Williams arrived 4:05 p.m. E lection of President/Chairperson and Secretary MR. GRYGLWICZ NOMINATED BRANDON WILLIAMS AS CHAIRPERSON. MR. BOWMAN SECONDED. Ayes: Nays: Absent: Abstention: The motion carried. Bowman, Campbell, Gryglewicz, Hagan, Moore None DaVault William s MR. GRYGLWICZ NOMINATED ERNESTINE CAMPBELL AS SECRETARY. MR. BOWMAN SECONDED. Ayes: Nays: B owman, Williams, Gryglewicz, Hagan, Moore None Absent: Abstention: The motion caITied. Approval of Minutes Davault Campbell MR. BOWMAN MOVED TO APPROVE THE MINUTES OF THE AUGUST 14, 2001 REGULAR MEETING. MR. GRYGLEWICZ SECONDED Ayes: Nays: Absent: Abstention: The motion carried. OLD BUSINESS Bowman, Campbell, Gryglewicz None Davault Williams, Moore, Hagan To old business was discussed. NEW BUSINESS Watershed Investment Consultants Mr. Connors reviewed the fund perfom1ance for 2001. He stated that the fund had a positive return for the year which was better than most plans. Discussion ensued regarding fund performance in relation to required contributions and funding levels. Consideration of benefits for the beneficiary of Danny Ferguson Danny Ferguson worked for the City from September 22, 1986 until his death on July 19, 2001. Mr. Ferguson named his son, Joshua Ferguson as his beneficiary. Joshua has requested a lump-sum distribution effective October 31, 2001. MR. GRYGLEWICZ MOVED TO APPROVE THE BENEFICIARY PAYMENT OF $23,482.61 TO JOSHUA FERGUSON, OCTOBER 31, 2001. MR. BOWMAN SECONDED. Ayes: Nays: Absent: The motion carried. Bowman, Campbell, Gryglewicz, Hagan, Moore, Williams None DaVault Consideration of retirement benefits for Joan Federlick. Joan C. Federlick received long tem1 disability from March 12, 1999 until November 14, 2001. The plan specifies that the retirement benefit begins on the first of the month after the participant attains age 65. Ms. Federlick attained age 65 on April 25, 2001. Non-Emergency Pension Board Meeting 2 or 5 .. • MR. GRYGLEWICZ MOVED TO APPROVE MONTHLY BENEFITS FOR 50 PERCENT JOINT AND SU RVIOR BENEFIT IN THE AMOUNT OF $512.08 FOR JOAN FEDERLICK EFFECTIVE MAY 1, 2001. MS. CAMPBELL SECONDED. A yes: Nays: Absent: The motion can-ied. Bowman, Campbell, Gryglewicz, Hagan, Moore, Williams None DaVault Cons i . :era ti on of retirement benefits for Patricia Stephens . Patric t Stephens requested her retirement benefit to begin on October 1, 2001. Ms. Stephens was employed on J anu a : y 8, 1987 and her last day was September 30, 2001. MR.< RYLEWICZ MOVED TO APPROVE MONTHLY BENEFITS FOR TEN YEARS CERTAIN AND LIFE T IME IN THE AMOUNT OF $440.64 FOR PATRICIA STEPHENS EFFECTIVE OCTOBER 1, 2001. MR. BOWMAN SECONDED. Ayes: Nays: Absent: The motion can-ied. Bowman, Campbell, Gryglewicz, Hagan, Moore, Williams None DaVault Consideration of benefits for the beneficiary of Gerald Botkins. Gerald Botkins, retiree, passed away on October 1, 2001. At the time ofretirement Mr. Botkins elected a 100 percent joint and survivor benefit. He named his spouse as the beneficiary. MR. BOWMAN MOVED TO APPROVE THE MONTHLY SURVIVOR BENEFIT PAYMENT OF $163.78 TO MYRTIE BOTKINS EFFECTIVE OCTOBER 31, 2001. MS . CAMPBELL SECONDED . Ayes: Nays: Absent: The n" >tion can-ied. Bowman, Campbell, Gryglewicz, Hagan, Moore, Williams None Davault Cons i,_ e ration of retirement benefits for Joan Hinkemeyer. Joan H inkemeyer was emplo yed by the City on January 13, 1986 . On December 21, 1987 Ms . Hinkemeyer elected to participate in the ICMA-RC 40la Plan. With this election she became vested in the NonEmergency Employees Retirement Plan. On October 25, 2001, she attained age 65. Ms. Hinkemeyer's monthly benefit is $ 7 4.91 per month. The plan does not provide for payments of less than $100 per month . MR. GRYGLEWICZ MOVED TO APPROVE THE LU MP -S U M PAYMENT OF $10,914.38 TO JOAN HINKEMEYER ON NOVEMBER 30, 2001. MR. BOWMAN SECONDED. A yes: Nays: Bowman, Campbell, Gryglewicz, Hagan , Moore , Williams None Non-Emergency Pension Board Meetin g 3 o f 5 Absent: DaVault The motion carried. Consideration of retirement benefits for Isadore Bueno. Jr. Isadore Bueno, Jr. worked for the City from August 28, 1970 until December 31, 1991. Mr. Bueno attained age 55 on November 25, 2001. He requested an early retirement benefit effective December 1, 2001. MR. GRYGLEWICZ MOVED TO APPROVE MONTHLY BENEFITS FOR 100 PERCENT JOINT AND SURVIOR BENEFIT IN THE AMOUNT OF $577.80 FOR ISADORE BUENO, JR. EFFECTIVE DECEMBER 1, 2001. MR. BOWMAN SECONDED. Ayes: Nays: Absent: The motion carried. Bowman, Campbell, Gryglewicz, Hagan, Moore, Williams None Davault Consideration of retirement benefits for Richard Kahm. Richard Kalu11 requested his retirement benefit to begin on November 1, 2001. His last day of employment was October 21, 2001. Mr. Kahmjoined the Plan on Febrnary 1, 1976. He was given credited service for his prior employment from September 25, 1967 to January 31, 1976. Since Mr. Kalun had not made required contributions to the Plan, his benefit calculation included an actuarial reduction of $196.11 per month. Mr. Kahn attained age 55 on June 10, 2001 and with 34.056 years of service qualifies for a special early retirement (Rule of88). MR. GRYGLEWICZ MOVED TO APPROVE MONTHLY BENEFITS FOR 100 PERCENT JOINT AND SURVIOR BENEFIT IN THE AMOUNT OF $3,045 .08 FOR RICHARD KAHM EFFECTIVE NOVEMBER 1, 2001. MR. BOWMAN SECONDED . Ayes: Nays: Bowman, Campbell, Gryglewicz, Hagan, Moore, Williams None Absent: DaVault The motion carried. Consideration of DROP application from Ernestine Campbell. Ernestine Campbell has requested a DROP retirement benefit. Ms. Campbell was employed from June 28, 1971 to September 3, 1976 and was rehired on August 22, 1977. Ms. Campbell has requested a DROP retirement effective January 1, 2002. MR. GRYGLEWICZ MOVED TO APPROVE ERNESTINE CAMPBELL'S DROP RETIREMENT OF 100% JOINT AND SURVIVOR BENEFIT IN THE AMOUNT OF $1,687.91 EFFECTIVE JANUARY 1, 2002. MR. BOWMAN SECONDED. Ayes: Bowman, G1yglewicz, Hagan, Moore, Williams Nays: None Non-Emergency Pension Board Meeting 4 of 5 .. Absent: Abstention: The motion carried. D aVault Campbell Ernesti ne Campbell a nd Gary Bowman's rep ort on the Co lorado Public P e ns ion Co nference. Ernestine Campbell rev iewed the topics of the Colorado Public Pension Conference. She was g lad that the pro gram is offering a fom1 of p e nsi on plan education for new and not-so-new m e mbers . Gary E 0 wrnan commented on the list of conference topics. Discussion ensued related to the various types of pensio 1 plans that are available in the market place, th e avai lability of investment advice to employees, and plan P• ·ta bility . I.R.S .. ·il in g for Letter ofDetem1ination. Ms. W -:s coa t explained that the City is filing the Plan with the I.R.S. to maintain the Plan 's qualified status. Mary Brauer filed the Plan without any amendments and it is assumed th at the I.R.S. will notify the City of any ne cessary changes to comply with the GUST II rulings . Ms. Wescoat will noti fy the Board of a ny change s that may be necessary . MEMBER CHOICE No items were discussed. The meeting adjourned a t 5: 14 p.m. Carol Wescoat Recording Secretary Non-Emergency Pension Board Meeting 5 of 5