HomeMy WebLinkAboutRetirement Committee - Minutes - 12/15/2005General Employees' Retirement Plan
GENERAL EMPLOYEES' RETIREMENT COMMITTEE
December 15, 2005, MEETING MINUTES
APPROVED ON JANUARY 12, 2006
COUNCIL LIAISON PRESENT: Councilman Ben Manvel
COMMITTEE MEMBERS PRESENT: Susan Lehman, Chair, 221-6813 (:/ �V•
Michele Hays -Johnson, 416-2158
Dottie Nazarenus, 204-4429
Charles Seest, 221-6788
Jim O'Neill, Vice Chair, 221-6779
COMMITTEE MEMBERS ABSENT: Bill Switzer, 221-6713
OTHERS PRESENT: Pat Kahle (Actuary, Milliman)
Greg Tempel (City Attorney's Office)
Debbie Weedman (Human Resources)
Harold Hall (Finance)
CALL TO ORDER: Susan Lehman called the meeting to order at 1:15 p.m.
PUBLIC PARTICIPATION AND PLAN MEMBER COMMENTS: The Committee reserves this place
on the agenda to receive comments from Members of the Plan or the public. There were no
comments
APPROVAL OF MINUTES: The minutes from the meeting held on November 9, 2005, had been
distributed to the Board for review via email prior to the meeting. The only corrections were
made by Greg to the wording in the second and third paragraphs of Item 4. The motion to
approve the minutes as corrected was made by Jim O'Neill and seconded by Michele Hays -
Johnson. The motion passed unanimously (5-0).
DISCUSSION TOPICS:
1. PLAN PHILOSOPHY: There were no comments on Plan Philosophy.
2. MONTHLY INVESTMENT REPORT: Harold Hall distributed the revised monthly report with
the changes made that had been suggested by the Board at the November meeting. The Board
was pleased with both the content and format of the new statements.
3. OTHER BUSINESS: The next item for the Board to consider was the Work Plan for 2006.
Susan distributed copies of the draft Work Plan for the Board to review. The only change made
to the draft was to add a bulleted item stating the minutes and the agendas would be posted to the
215 North Mason Street • 2nd Floor • P.O. Box 580 • Fort Collins, CO 80522-0580 • (970) 221-6788 • FAX (970) 221-6782
General Employees' Retirement Committee
December 15, 2005, Meeting Minutes
Page 2 of 2
web site. Susan will make the corrections and forward them to the City Clerk's Office. In
addition, Susan will check on the procedures for posting future agendas and minutes on the site.
Chuck reported that the additional appropriation request of $500,000 was approved by Council.
These funds were required since there had been higher number of lump -sum distributions made
in the latter half of 2005.
ADJOURNMENT: The meeting adjourned at 1:55 p.m.
TOPICS FOR NEXT REGULARLY SCHEDULED MEETING
The next meeting of the Committee will be held on January 12, 2006, beginning at 1:15 p.m. at
215 N. Mason Street, Conference Room 2A on the second floor. The tentative agenda includes:
Public Participation & Plan Member Comments
Approval of Minutes
Election of Officers
Review Actuarial Assumptions, tentative
Plan Philosophy
Other Business
GENERAL EMPLOYEES' RETIREMENT PLAN WEB PAGE: The Plan's web page can be found at
www.fcgov.com/cityclerk/retirement.vhp. The Committee's 2004 Annual Report, 2005 Work
Plan, and monthly minutes are available at this site.
2005 MEETING SCHEDULE:
The r egular m eeting t ime for t he C ommittee i s a t 1 :15 p.m. o It t he s econd T hursday o f e ach
month. The regular location is 215 North Mason Street, meeting room 2A. For 2005, the
Committee has scheduled the meetings as shown below: