HomeMy WebLinkAboutRETIREMENT COMMITTEE - MINUTES - 02/13/2025
General Employees Retirement
Committee
215 N. Mason
nd Floor
Fort Collins, CO 80522
970.221.6788
970.221.6782 - fax
fcgov.com
GENERAL EMPLOYEES’ RETIREMENT COMMITTEE ZOOM MEETING
MINUTES
FEBRUARY 13, 2025
11:00 AM - VIA TEAMS
Committee Members Present: Clark Mapes, Chair
Randy Bailey, Vice Chair
John Unger
Ralph Zentz
Others Present: Joel Stewart, Millman
Tristan Blue, Milliman
Dianne Criswell
Adam Halvorson
LeeAnna Vargas
Tamara Lindenstein
Carolyn Koontz
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Meeting called to order at 11:00 am
1. Citizen Participation and Plan Member Comments
2. The Minutes from the January 5, 2025 meeting will be presented for review and
approval at the March 13th meeting.
3. Plan Participant Updates (LeeAnna Vargas)
Working with two employees who are considering retiring this year, both have requested
Final Calculation forms, but no official GERP benefit begin dates have been determined at
this time.
I'm also working on sending 6-month notification letters to two term vested employees who
will turn age 65 later this year.
Regarding deceased employees, we learned of David Stringer's passing on December 13,
2024, at the end of January. The Payroll Team successfully reversed the January pension
payment at the request of Mr. Stringer's daughter. She explained that retrieving the funds
from his bank account would have been difficult due to logistical challenges. She expressed
her sincere gratitude to the Payroll Team for their assistance in resolving this matter.
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4. Review Investment Report (Adam Halvorson)
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5. Discuss Possible Changes to Committee Rules (Dianne Criswell & Randy Bailey)
Randy Bailey; Milliman needs inputs from us - it is a two way conversation to get that baked into
our financials. That schedule is pretty locked in due to our audit schedule.
Milliman prepares the annual GERP member statements and then hands them over to HR for
distribution in April.
Requesting more time to work out high level hearing procedures which are needed due to the
business of the committee. Requesting an adhoc work group with Randy and Clark and then
come back for review and approval in March.
Ralph made the following motion;
Move to direct the attorney supporting the Committee to continue to draft updated Rules
of Procedure for the Committee, including hearing procedures, and to seek feedback
from Committee members, Randy and Clark, as well as Committee staff, Carolyn, for
consideration of the draft by the Committee for adoption at its March meeting.
Motion seconded by Randy Bailey. Confirmed via roll call; Clark Mapes, Randy Bailey, Ralph
Zentz and John Unger.
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6. Review Key Assumptions to be used in Annual Actuarial Evaluation (Joel Stewart &
Tristan Blue)
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Motion to approve the assumptions as presented made by Randy Bailey.
Motion seconded by John Unger.
Confirmed via roll call; Clark Mapes, Randy Bailey, Ralph Zentz and John Unger.
7. Other Business / Election of Officers
Chair
Ralph Zentz nominated Clark Mapes to continue as Chair. Randy Bailey seconded the
motion
Vice Chair
Clark Mapes nominated Randy Bailey to continue as Vice Chair. John Unger seconded
the motion.
Confirmed via roll call; Clark Mapes, Randy Bailey, Ralph Zentz and John Unger.
The meeting adjourned at 12:10 pm
Clark Mapes, Chair
Carolyn Koontz, Staff Liaison
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4/10/2025
4/10/2025