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General Employees Retirement Committee
2020 Annual Report
January 14, 2021
Zoom / 215 N. Mason Street Conf. Room 2A
2020 ANNUAL REPORT Page 1
1. Prepare 2019 GERC Annual Report for City Council prior to January 31, 2020.
2019 GERC Annual Report approved at the January 9, 2020 meeting and was submitted to
the City Clerk’s office following the meeting.
2. Elect Officers and Review GERC standing rules at the January 9, 2020 meeting.
Elections took place as required. Clark Mapes was reelected Chair and Kelley Vodden was
elected Vice Chair.
3. Continue Monitoring of Retirement Plan and the appropriate level of contributions.
There was discussion in February if an increase to the contribution was needed. It was
ultimately determined no increase was needed at this time.
4. Revise assumptions prior to March 1, if necessary, for the 2020 report.
The assumptions were reviewed at the February meeting. The actuary recommended no
changes to the plan assumption. The committee approved the assumptions as
recommended.
5. Review ‘Personal Retirement Planning Statement’ forms in April 2020.
The ‘Personal Retirement Planning Statement’ was reviewed at the February meeting. The
statements were distributed to the 43 active GERP participants.
6. Review Quarterly and Monthly Investment Reports.
The quarterly investment reports were reviewed by the committee to verify the investment
portfolio is in compliance with GERP policy. Changes to the portfolio were also reviewed
along with investment performance.
7. Prepare Work Plan for 2021
Reviewed the work plan for 2021 and made the necessary modifications for creating a
2021 plan at the December meeting. The 2021 work plan was completed and submitted to
the City Clerk.
General Employees Retirement Committee
2020 Annual Report
2020 ANNUAL REPORT Page 2
8. Provide and enhance the educational opportunities for GERP members and GERC
Board members, as appropriate
Board was unable to get education in 2020 due to Covid 19 meeting restrictions.
In 2021, the Board will be trained by Innovest Portfolio Solutions LLC in their fiduciary
responsibilities.
9. The web site for the General Employees’ Retirement Committee will be monitored,
updated as needed, and the minutes will be posted once they have been approved
and signed.
The website was monitored and updated as needed and the meeting minutes posted by
the staff liaison.
10. Consider recommending retirement transition modifications to the plan.
Committee discussed current retirement age and vesting requirements and decided no
changes were needed at this time.