HomeMy WebLinkAbout2000-11-14 NEERB MINUTESf
NON-EMERGENCY PENSION BOARD MEETING
November 14, 2000
The regular meeting of the Englewood Non-Emergency Pension Board was called to
order by Chairperson Richard Kahm , at 4:04 p.m. in the Administrative Services
Conference Room of the Englewood Civic Center, 1000 Englewood Parkway,
Englewood, Colorado.
Members Present:
Members Absent:
Others Present:
Richard Kahm, Chairperson
Bill Belt, Council Appointee
Gary Bowman, Council Appointee
Beverly Bradshaw, Council Member
Ernestine Campbell, Employee Representative
LeRoy Da Vault, Council Appointee
Frank Gryglewicz, Director of Finance and Administrative Services
None
Dale Connors, Watershed Investment Consultants
Kevin Yoshida, Watershed Investment Consultants
Diane Hunt, Buck Consultants
Dan Brotzman, City Attorney
Carol Wescoat, Recording Secretary
A quorum was present.
* * * * *
Approval of Minutes
MS.BRADSHAW MOVED TO APPROVE THE MINUTES OF THE SEPTEMBER 7,
2000 AND THE OCTOBER 2, 2000 SPECIAL MEETINGS WITH THE
AMENDMENT THAT MS. BRADSHAW VOTED A YE TO ADJOURN. MS.
CAMPBELL SECONDED.
Ayes:
Nays:
Absent:
The motion carried.
OLD BUSINESS
Kahm, Belt, Bradshaw, Bowman, Campbell, Da Vault, Gryglewicz
None
None
Notification of asset transfer to Columbia Small Cap.
Mr. Connors said the assets had been transferred from Standish, Ayer & Wood to
Columbia Small Cap fund.
Review of proposed plan changes and draft ordinance .
The Board reviewed the draft ordinance of the proposed plan changes. Mr. Gryglewicz
stated the changes would provide the irrevocable election for new eligible employees to
make the choice of either the defined benefit plan or the money purchase plan.
MR. BELT MOVED THAT VERBAGE BE ADDED TO SECTION 3-4-3-2(A) TO
STATE THAT EMPLOYEES DEFINED AS EXEMPT MUST PARTICIPATE IN THE
401A MONEY PURCHASE PLAN. MS. BRADSHAW SECONDED.
Ayes:
Nays:
Absent:
The motion carried.
Kahm, Belt, Bradshaw, Bowman, Campbell, Da Vault, Gryglewicz
None
None
MR. BOWMAN MOVED TO APPROVE THE ORDINANCE SUBJECT TO
TECHINCAL CHANGES. MS. CAMPBELL SECONDED.
Ayes:
Nays:
Absent:
The motion carried.
Kahm, Belt, Bradshaw, Bowman, Campbell, Da Vault, Gryglewicz
None
None
Review of the Application for Election of Optional Plan and the Release and Waiver of
Claims under the City of Englewood NonEmergency Retirement Plan and Trust.
The Board reviewed the Application for Election of Optional Plan form.
MS.BRADSHAW MOVED TO APPROVE APPLICATION FOR ELECTION OF
OPTIONAL PLAN AND THE RELEASE AND W AIYER OF CLAIMS UNDER THE
CITY OF ENGLEWOOD NONEMERGENCY RETIREMENT PLAN AND TRUST.
MR. BELT SECONDED.
Ayes:
Nays:
Absent:
The motion carried.
Kahm, Belt, Bradshaw, Bowman, Campbell, Da Vault, Gryglewicz
None
None
Non-Emergency Pension Board Meeting
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NEW BUSINESS
Watershed Investment Consultants
Dale Connors , Watershed Investment Consultants (Watershed), reviewed the third quarter
investment returns.
Mr. Connors explained that the Sandra Hanrahan, Trust Officer is no longer with Wells Fargo
and that the new representative , Tara Townsend has been unable to locate the fund
investment policy and rebalancing instructions. Mr. Connors will provide the instructions for
Ms. Townsend and ask the Bank to ensure asset allocation is held to the parameters defined
by the investment policy .
Consideration of DROP retirement request from Paul Kapaun.
Paul Kapaun was employed on March 25 , 1970. Mr. Kapaun has requested to participate
in the Deferred Retirement Option Plan (DROP) as of November 1, 2000.
MR. BELT MOVED TO APPROVE A LIFETIME AND TEN YEAR CERTAIN DROP
RETIREMENT BENEFIT FOR PAUL KAPAUN IN THE AMOUNT OF $2,057.64 PER
MONTH EFFECTIVE NOVEMBER 1, 2000. MR. GRYGLEWICZ SECONDED.
Ayes:
Nays:
Absent:
The motion carried.
Kahm, Belt, Bradshaw, Bowman, Campbell, Da Vault , Gryglewicz
None
None
Notification of retirement request from Robert Hitchcock .
Robert Hitchcock has been on long term disability since July 1999. He has given
notification of his plan to request that the disability be discontinued effective December
31, 2000 and in doing so , would make him eligible for retirement benefits effective
January 1, 2001. Mr. Hitchcock will attain the age of 65 on January 8, 2001. Mr.
Hitchcock 's long term disability discontinues at age 65.
Review of Colorado Public Pension Conference by Ernestine Campbell .
Ms. Campbell reviewed the subjects discussed at the Colorado Public Pension
Conference. She stated there was a great deal of discussion regarding self-directed plans
participating in brokerage accounts.
Non-Emergency Pension Board Meetin g
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Ms. Campbell commented on the information presented on retiree medical savings
programs. This type of program is being considered by many plans to assist retirees with
paying their medical insurance and expenses.
MEMBER CHOICE
No items were discussed.
MR. BELT MOVED TO ADJOURN. MR. BOWMAN SECONDED.
Ayes:
Nays:
Absent:
The motion carried.
Kahm , Belt, Bradshaw, Bowman, Campbell , Da Vault, Gryglewicz
None
None
The meeting adjourned at 5 :08 p.m.
~0of lLl~
Carol Wescoat
Recording Secretary
Non-Emergency Pension Board Meeting
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