HomeMy WebLinkAboutRetirement Committee - Minutes - 01/11/2024General 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
JANUARY 11, 2024
11:00 AM
Committee Members Present: Clark Mapes, Chair
Randy Bailey, Vice Chair
Del Bernhardt
Jackie Darner
John Unger
Ralph Zentz
Others Present: Adam Halvorson
Jenny Lopez Filkins
LeeAnna Vargas
Joel Stewart, Milliman
Carolyn Koontz
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Meeting called to order at 11:01 am
1.Citizen Participation and Plan Member Comments - none noted.
2.Consider Approving the Minutes from the Meeting of December 14, 2023
Del Bernhardt made a motion to approve the minutes as presented.
John Unger seconded the motion.
Approval confirmed via roll call; Clark Mapes, Randy Bailey, Del Bernhardt, Ralph Zentz,
Jackie Darner, and John Unger.
3.Plan Participant Updates (LeeAnna Vargas)
1 member will start receiving benefits this month (January 2024).
2 members passed in December 2023
Letters are being mailed to members who are eligible to receive benefits in 2024.
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4.Review Investment Report (Adam Halvorson)
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5.Investment Manager - Next Steps (Randy Bailiey)
The initial RFP team will consist of; John Unger, Randy Bailey, Adam Halvorson with support
from Finance, Purchasing and Human Resources. Jenny Lopez Filkins will support this process
with legal support and guidance.
All meetings where 3 or more GERP members discuss or consider the draft RFP will need to be
held as a public meeting and properly noticed to the public. GERP may want to schedule out of
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cycle meetings as long as the notice requirements are met. The committee will review the
overall RFP and approve it before it is put out for proposal.
GERP members will need to evaluate whether they have a conflict of interest in participating in
any stage of the RFP and selection process. Gerry Paul offered a process for the investment
manager RFP – similar to how the City handles the auditor choice w/ Council – once we receive
responses and score them, the final (top 3) firms will present in an open forum type meeting and
participate in an interview.
Ralph Zentz; good idea for the whole committee to review the top candidates – maybe it can be
whittled down to three vendors before it comes to the committee.
Randy Bailey will put together a detailed task list for the creation of the RFP and he will let the
committee know if we get stalled and it won’t be ready for review during the February 8th
meeting. Staff will bring a detailed task list and the proposed schedule to the GERC for review.
Randy Bailey; with the committee’s concurrence, we will be proceeding with an RFP process for
the appointment of an investment manager.
Del Bernhardt made a motion for the committee to proceed with the RFP process and the
appointment of an investment manager.
Motion was seconded by John Unger.
Approval confirmed via roll call; Clark Mapes, Randy Bailey, Del Bernhardt, Ralph Zentz and
John Unger.
6.Other Business – none noted.
Meeting adjourned at noon.
Clark Mapes, Chair
Carolyn Koontz, Staff Liaison
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