HomeMy WebLinkAbout2003-02-11 NEERB MINUTESNONEMERGENC Y RETIREMENT BOARD MEETING
February 11, 2003
C h ai rperson Brandon Williams called the regula r meeting of the Englewood No nErn e rgency Retirement Board
to o rd er at 4:00 p.m . in th e Public Works Conference Room of the Civic Center. 1000 Englewood Pa rb\'ay,
E n glewood, Colo rado .
Members Present :
Members Absent:
Othe rs Prese nt:
A quorum was present.
Approval of Minutes
Brando n Williams, Chairperson
Gary Bowman, Co uncil Appointee
E rn es tin e Campbe ll, Employee Represe ntati ve
LeRoy DaVa ult , Co uncil Appointee
Frank Gryglewicz, Director of Finance and Administrative Services
Bradley Hagan, E mp loyee Represe ntati ve
John Moore , Co uncil Member (by te le phone)
No ne
D a le Co1mors, Waters h e d Investme nt Co ns ultants
Kev in Yoshida, Waters hed Inves tment Con s ultants
Gene Guevara, Waters h ed Investment Consultants
Jo e I-Iern1, Buck Consultants
* * * * *
MR. GRYGLEWICZ MOVED TO APPROVE THE MINUTES OF TI-IE NOVEMBER 13 , 2002 REGULAR
MEETING AND TI-IE NOVEMBER 13 , 2002 TELEPHONE POLL. MR. BOWMAN SECONDED.
Ayes:
Nays :
Absent:
The motion ca1Tied.
OLD BU S INESS
Williams, Bowman , Campbe ll, DaVault, Gryglewicz, Moore
Non e
Hagan
No o ld business was discussed.
NEW BUSINESS
Watershed Investment Consultant s
Ylr. Connors reviewed the fund perfom1ance for the fourth quarter of 2002 and January 2003. He said that
fou rth quart er of 2002 had reported better earnings.
Discussion ensued regarding the actuarial guidelines of us ing five -year smoo thing for recognizing gains o.nd
losses during years the investme nt s do not attain the 7 .5 % earnings ass u mption .
The Board agreed that no studies would be r eque s ted with the January 1, 2003 a ctuarial report.
Mr. Moore inquired if it is possible to get a five-year projection of the actuarial fund. Mr. Henn will consult
Ms. 1-l unt and let the Board know if there is an additional cost. Ms. Wescoat will do a telephone poll to obtain
approval for any :i.dditional actuarial cost for the projection.
MEMBER CHOICE
No items were discussed.
Chairperson Williams adjourned the meeting at 4:25 p.111.
Caro l Wescoat
Recording Secretary
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