HomeMy WebLinkAbout2004-08-10 NEERB MINUTESNONEMERGENCY RETIREMENT BOARD MEETING
August 10 , 2004
Chairperson Brandon Williams called the regular meeting of the Englewood NonEmergency Retirement Board to
order at 4:00 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
Frank Gryglewicz, Director of Finance and Administrative Services
Bradley Hagan, Employee Representative
John Moore, Council Member
Mahendra Patel, Employee Representative
LeRoy DaVault, Council Appointee (notice)
Dale Connors, Watershed Investment Consultants
Kevin Yoshida, Watershed Investment Consultants
William Fornia, Mellon Consultants
* * * * *
MR . GRYGLEWICZ MOVED TO APPROVE THE MINUTES OF TIIE MAY 11, 2003 REGULAR MEETING AND
TIIE MAY 25, 2004 TELEPHONE POLL. MR . BOWMAN SECONDED.
Ayes :
Nays:
Absent:
The motion carried .
OLD BUSINESS
Williams , Bowman, Gryglewicz, Hagan, Moore, Patel
None
Davault
No old business was discussed .
NEW BUSINESS
Watershed Investment Consultants
Mr. Connors reviewed the fund performance reports for the past quarter.
Mr. Connors presented the three real estate investment managers for the Board's consideration . He explained the
reasoning for considering each firm. The three firms are, Principal US Property Account, SSR Tower Fund and
UBS Real Estate Separate Account (RESA).
Discussion ensued regarding the choices and their strengths and weaknes ses. The Board agreed to review additional
information to be provided by Watershed Investment Consultants and narrow the candidate choices to two and
request the finalist do a formal presentation to the Board.
Consideration of benefit request from Craig Siegel.
Craig Francis Siegel has requested retirement benefits .
MR. GRYGLEWICZ MOVED TO APPROVE THE 50% JOINT AND SURVIVOR MONTHLY BENEFIT OF
$1,565.65 BEGINNING AUGUST 1, 2004. MR. HAGAN SECONDED.
Ayes :
Nays:
Absent:
The motion carried.
Williams, Bowman, Gryglewicz, Hagan , Moore, Patel
None
Davault
Notification of benefit request from Brenda Castle
The Board was notified that Brenda Castle is eligible for retirement benefits in September and has requested the
benefit begin at that time. The Board will approve the benefit at the next meeting.
Consideration of benefit request from Charles Caudill.
Charles Caudill has requested retirement benefits .
MR. GRYGLEWICZ MOVED TO APPROVE THE LIFETIME MONTHLY BENEFIT OF $372 .2 6 BEGINNING
JUNE 1, 2004. MR. BOWMAN SECONDED.
Ayes:
Nays:
Absent:
The motion carried .
MEMBER CHOICE
Williams , Bowman , Gryglewicz, Hagan , Moore, Patel
None
Davault
The Board discussed the possibility of member attending the Colorado Public Pension Conference. Discussion
ensued related to the Board members fiduciary responsibility to educate themselves on matters that must be
determined by the Board.
Mr. Hagan asked when the retirees last received a benefit increase. Discussion ensued and was estimated that
because of poor fund performance the last increase was 2000.
The Board's next the meeting will be on Tuesday, November 9, 2004 at 4 :00 p .m.
Chairperson Williams adjourned the meeting at 5:07 p.m .
Carol Wescoat
Recording Secretary
Non-Emergency Pension Board Meetin g
2 of 2