HomeMy WebLinkAboutLand Conservation And Stewardship Board - Minutes - 05/12/2022
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
MAY 12, 2022
11 AM
Committee Members Present: Blaine Dunn, Vice Chair
Del Bernhardt
Ralph Zentz
Jackie Darner
Committee Members Absent: Clark Mapes, Chair
Others Present: Amanda Newton
Amber Fluke
LeeAnna Vargas
Jenny Lopez Filkins
Carolyn Koontz
___________________________________________________________________
Meeting called to order at 11:00 am
1. Citizen Participation and Plan Member Comments - none noted
2. Consider Approving the Minutes from the Meeting of March 10, 2022.
Ralph Zentz made a motion to approve the minutes as presented.
Del Bernhardt seconded the motion.
Approved confirmed via roll call; Ralph Zentz, Del Bernhardt, Blaine Dunn, Jackie Darner.
3. Review and Consider Plan Member Request for retroactive payment of benefits due to
failure to send eligibility letters (Amber Fluke)
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Participant Status Benefit Start
Date
Missing
Months Retroactive Pay
Thomas Chapel No response
Thomas Fort No response
Sharon Getz No response
Kirsten Whetstone
Final packet sent to
member on 5/3 7/1/2022 16
Pending - need
member's request
letter
Stephen Comfort Monthly Benefit 11/1/2021 11 Approved
Kimberely Crowley Monthly Benefit 1/1/2022 23 Approved
Linda Dowlen Lump Sum 12/1/2021 Approved
Kevin Meredith Monthly Benefit 11/1/2021 8 Approved
Kevin McBride Monthly Benefit 10/1/2021 12 Approved
Kirsten Whetstone; Amber Fluke was able to confirm accurate contact information and a packet
will be sent to her today.
HR is still trying to contact the three remaining impacted members; Thomas Chapel, Thomas
Fort, and Sharon Getz. HR will be using the guidelines sent out by Jenny Lopez-Filkins and this
effort will be led by LeeAnn Vargas and will be a priority.
4. Discuss efforts made to contact and engage plan participants.
Jenny Lopez Filkins sent Information to the GERC members.
Blaine Dunn; Staff receives an annual updated list of all GERP members from Milliman. HR staff
to use that information to set-up continuous tracking of participant contact information.
HR staff to send a letter to all vested members- indicating that staff is doing an update on our
system and would like to confirm that their contact information is accurate. HR staff can then
proceed to the next step if no response is received. This will enable HR staff to track and
document our efforts from a legal perspective. Requesting HR staff to send a letter to all
members this year to make sure City staff has current information for all members before they
turn 64 ½ .
HR staff took the action item above. Del Bernhardt said this is a much needed, great step.
5. Plan Participant Updates (Amber Fluke)
1 member started receiving benefits.
1 member passed – Herman Wilms passed in March 2022 – there was an overpayment and
that has been reconciled with payroll.
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6. Review Investment Report (Amanda Newton)
The Stock market continued to struggle in April due to persistent high inflation along with the
prospect of more aggressive interest rate hikes. City staff is watching every aspect of the
portfolio very closely.
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70% exposed to stock market - overall YTD -9.2% however, we are not doing any worse than
the benchmark index. There are a couple mutual funds performing much better than the
benchmark.
Domestic category 55% - almost at the upper limit - will keep an eye on it
Historical data - GERP investment has a long maturity horizon – over the past 10 years
13.5% annual return versus the fixed income which generated 3.8%
7. Other Business; the City Clerk notified staff that they will be more actively recruiting for the
open member on this committee.
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Meeting adjourned at 11:18 am
Clark Mapes, Chair
Carolyn Koontz, Staff Liaison
DocuSign Envelope ID: D24B27F4-F532-4451-AE1C-D76E2542F1FD