HomeMy WebLinkAbout2002-05-14 NEERB MINUTESNONEMERGENCY RETIREMENT BOARD MEETING
May 14, 2002
Chairperson Williams called the regular meeting of the Englewood NonEmergency Retirement Board to order
at 4:03 p.m. in the Public Works Conference Room of the Civic Center, 1000 Englewood Parkway,
Englewood, Colorado.
Members Present:
Members Absent:
Others Present:
A quorum was present.
Approval of Minutes
Brandon Williams, Chairperson
Gary Bowman, Council Appointee
Ernestine Campbell, Employee Representative
LeRoy DaVault, Council Appointee
Frank Gryglewicz, Director of Finance and Administrative Services
Bradley Hagan, Employee Representative (arrived 4:15)
John Moore, Council Member
None
Dale Connors, Watershed Investment Consultants
Kevin Yoshida, Watershed Investment Consultants
Diane Hunt, Buck Consultants
* * * * *
MR. GRYGLEWICZ MOVED TO APPROVE THE MINUTES OF THE FEBRUARY 12, 2002 REGULAR
MEETING. MS. CAMPBELL SECONDED
Ayes:
Nays:
Absent:
The motion carried.
OLD BUSINESS
Williams, Bowman, Campbell, Davault, Gryglewicz, Moore
None
Hagan
No old business was discussed.
NEW BUSINESS
Watershed Investment Consultants
Mr. Connors reviewed the fund performance for the first quarter of 2002.
Mr. Hagan arrived at 4:15 p.m.
January l, 2002 Actuarial Report by Buck Consultants.
Ms. Hunt reviewed the January 1, 2002 actuarial report. She presented estimated cost to provide an ad hoc
increase of three percent (3%). The annual contribution would increase by approximately $30,000 and the
total liability would increase by approximately $250,000.
Review of 2001 Atte ndance
The board reviewed the 2001 attendance record and the attendance policy was reviewed for new board
members.
Notification of benefit request from Richard Kapaun
Mr. Richard Kapaun was employed on December 16, 1974 and received long-term disability from April 30,
2000 until April 29, 2002. Mr. Kapaun requested that his retirement benefits begin upon the termination of
this long-tem1 disability.
MR. GRYLEWICZ MOVED TO APPROVE MONTHLY EARLY RETIREMENT BENEFITS FOR TEN
YEARS CERTAIN AND LIFETIME IN THE AMOUNT OF $754.55 FOR RICHARD KAPAUN EFFECTIVE
MAY 1, 2002. MR. DA VAULT SECONDED.
Ayes:
Nays:
Absent:
The motion carried.
Williams, Bowman, Campbell, DaVault, Gryglewicz, Hagan, Moore
None
None
Consideration of benefits request for Michael Whelan.
Michael Whelan requested his retirement benefit to begin on April 1, 2002. Mr. Whelan was employed on January
4, 1999 and his last day was March 11, 2002. Mr. Whelan has attained age 65 and is 100% vested in the plan. The
monthly benefit is less than $100 per month. He requested that the sum be transferred to his IRA Rollover
account.
MR. GRYGLEWICZ MOVED TO APPROVE LUMP SUM BENEFIT PAYMENT OF $8,856.88 FOR
MICHAEL WHELAN EFFECTIVE APRIL 1, 2002 AND DISTRIBUTED ON APRIL 30, 2002. MS.
CAMPBELL SECONDED .
Ayes:
Nays:
Absent:
The motion carried.
Williams, Bowman, Campbell, Davault, Gryglewicz, Hagan, Moore
None
None
Review of consultant fees
The Board reviewed the fee structure for Watershed Investment Consultants and Buck Consultants .
Non-Emergency Pension Board Meeting
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MEMBER CHOICE
The Board reviewed a letter from Mike Flaherty requesting volunteers to serve on the Centennial Celebration
Committee.
Mr. Gryglewicz asked the Board to notify Ms. W escoat if they are interested in participating in the 2002
parade.
The meeting adjourned at 4:55 p.m.
Carol Wescoat
Recording Secretary
Non-Emergency Pension Board Meeting
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