HomeMy WebLinkAboutRETIREMENT COMMITTEE - MINUTES - 02/08/2024
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
FEBRUARY 8, 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
___________________________________________________________________
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 January 11, 2023
Randy Bailey made a motion to approve the minutes as presented.
Delbert Bernhardt seconded the motion.
Approval confirmed via roll call; Clark Mapes, Randy Bailey, Del Bernhardt, Jackie Darner,
and John Unger.
3. Plan Participant Updates (LeeAnna Vargas)
LeeAnna is working with one GERP member who was eligible for benefits in August of
2023. The member is currently reviewing her options and will decide whether she wants to
take a lump sum or start her benefits this month.
Age 65 letters were sent to two members who will be eligible for benefits in August of this
year as we are now at the six-month mark.
One beneficiary of a member has passed so that benefit has ended with her passing.
4. Review Key Assumptions to be used in Annual Actuarial Evaluation (Joel
Stewart)
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One assumption change recommended by Milliman - Demographic Mortality (see below);
Motion to approve one assumption change recommended by Joel Stewart.
Mortality scale updated to MP-2021 (see above). We want to use the most recent, available
data. Mostly a cosmetic update with minimal impact.
Randy Bailey made a motion to approve the assumptions as presented and update the
mortality scale as suggested by Joel Stewart.
Ralph Zentz seconded the motion.
Approval confirmed via roll call; Clark Mapes, Randy Bailey, Del Bernhardt, Ralph Zentz,
Jackie Darner, and John Unger.
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5. Review Investment Report (Adam Halvorson)
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6. Investment Manager - Next Steps (Randy Bailiey)
John Unger, Adam Halvorson, and Randy Bailiey are finalizing the draft RFP for Jenny Lopez
Filkins for her review. Looking forward to an update to this committee reviewing the RFP at the
April 11th meeting
7. Other Business
Election of Officers will take place at the March 14th GERC meeting.
If members have legal questions about the Acceptance of Trust, please reach out to Jenny
Lopez Filkins.
Del Bernhardt’s term on the GERC expires at the end of March. Del does not intend to extend
his term. Jackie Darner’s term also expires at the end of March. Jackie will decide how she
wants to move forward.
The meeting adjourned at 11:55 am.
Clark Mapes, Chair
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Carolyn Koontz, Staff Liaison
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