HomeMy WebLinkAboutRetirement Committee - Minutes - 12/09/2021
General Employees Retirement
Committee
215 N. Mason
2nd Floor
PO Box 580
Fort Collins, CO 80522
970.221.6788
970.221.6782 - fax
fcgov.com
GENERAL EMPLOYEES’ RETIREMENT COMMITTEE ZOOM MEETING
MINUTES
DECEMBER 9, 2021
11 AM
Committee Members Present: Clark Mapes, Chair
Blaine Dunn
Del Bernhardt
Ralph Zentz (not present)
Jackie Darner
Others Present: Amanda Newton
Nikki Daniels
Jenny Lopez Filkins
Joel Stewart, Milliman
Frank Albanese, Financial Investment News
___________________________________________________________________
Meeting called to order at 11:04 am
1. Citizen Participation and Plan Member Comments
No Citizen Participation. Frank Albanese from Financial Investment News was in
attendance.
2. Board Change Updates
Kelley Vodden is no longer a GERC Committee member. Blaine announced that he
will be an official voting member of the board (designated by Travis Storin) until
the replacement of the Controller position. We are currently 1 person short on the
Committee as there should be 6 total members. Jenny explained the plan provision
that addresses this. Blaine and Carolyn are following up on the additional member.
3. Consider Approving the Minutes from the Meeting of November 18, 2021
Del Bernhardt made a motion to approve the November 18, 2021, GERC Meeting minutes
as shared by Clark and shared with the committee. Blaine Dunn seconded the motion.
Approval by roll call; Clark Mapes, Ralph Zentz (not present), Jackie Darner, Del Bernhardt,
Blaine Dunn.
4. Plan Participant Updates (Nikki Daniels).
Nikki presented the below grid to provide an update of the status of the
participants who are owed retroactive GERP benefits because of Eligibility Letters
not being sent at age 64 ½ as discussed in the November meeting:
DocuSign Envelope ID: 7A47265D-6D3E-4BBA-AE80-C57AEA5C7568
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Will present copies of the standard plan letters and election packet in the January
meeting.
5. Consideration of Resolution #21-Adopting Special Procedures for Specific Plan
Members to Address Administrative Error with Eligibility Letters
Jenny explained the intent of the resolution, which is to enable the Committee to
consider written requests for retroactive payment for the limited number of
affected members, rather than holding hearings with each member.
Clark Mapes proposed minor friendly edits to the resolution. Blaine Dunn made a motion to
approve the resolution. Del Bernhardt seconded the motion.
Approval by roll call; Clark Mapes, Ralph Zentz (not present), Jackie Darner, Del Bernhardt,
Blaine Dunn.
6. Review of General Employee Retirement Plan amendments and consideration of
Resolution #- recommending approval of the Plan amendments to City Council
Blaine pulled up the Plan and reviewed the proposed minor edits.
• SECURE ACT provision-Forced out retirement at age 72 instead of 70 1/2.
• Payment of benefits provision-If a retired member or beneficiary should die
during a month and owes less than $350 we will not pursue payment.
• Jenny explained that Blaine will be taking the resolution to City Council
Blaine made the motion to approve and recommend to the City Council the General
Employee Retirement Plan as amended and restated. Del Bernhardt seconded the
motion.
Approval by roll call; Clark Mapes, Ralph Zentz (not present), Jackie Darner, Del Bernhardt,
Blaine Dunn.
7. Review Investment Report (Amanda Newton)
Amanda presented the data and there were no comments from the Committee
members.
DocuSign Envelope ID: 7A47265D-6D3E-4BBA-AE80-C57AEA5C7568
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8. Other Business
No other business was discussed
Meeting adjourned at 11:57 am
Clark Mapes, Chair
Carolyn Koontz, Staff Liaison
DocuSign Envelope ID: 7A47265D-6D3E-4BBA-AE80-C57AEA5C7568