HomeMy WebLinkAboutRetirement Committee - Minutes - 01/12/2006City of Fort Collins
General Employees' Retirement Plan
GENERAL EMPLOYEES' RETIREMENT COMMITTEE
January 12, 2006, Meeting Minutes
APPROVED ON FEBRUARV 16, 2006
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COUNCIL LIAISON PRESENT: Councilman Ben Manvel {'
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COMMITTEE MEMBERS PRESENT: Susan Lehman, Chair, 221-681 LOLL
Jim O'Neill, Vice Chair, 221-6779
Michele Hays -Johnson, 416-2158
Charles Seest, 221-6788
Bill Switzer, 221-6713
Dottie Nazarenus, 204-4429
OTHERS PRESENT: Greg Tempel (City Attorney's Office)
Harold Hall (Finance)
Debbie Weedman (Human Resources)
Pat Kahle (Actuary, Milliman)
CALL TO ORDER:
Susan Lehman called meeting to order at 1 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 received.
APPROVAL OF MEETING MINUTES:
Susan discussed a problem the Clerk's office is having related to receiving approved
minutes signed by the chair or vice chair and posting them to our web page. She
discovered that part of the problem was the change of support staff and found we simply
deliver the minutes from each meeting that have been approved and signed; then the
Clerk's office will post them to our web page. The agenda for each meeting should be
sent electronically to the Clerk. If a meeting is canceled, then we need to take over a
statement saying the meeting was cancelled, re -scheduled, etc. so that the Clerk can post
this to the web site to keep members and the public informed.
Susan distributed a draft of the October, 2005 minutes to everyone. The corrections
found were minor grammatical errors. Jim moved to approve the minutes as corrected
and Michele seconded. Motion passed unanimously (6-0).
Susan then distributed a draft of the December 15, 2005, minutes. Jim moved to approve
them as written and Bill seconded. Motion passed unanimously (6-0).
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
January 12, 2006, Meeting Minutes
Page 2
ANNUAL REPORT
Susan reported that the Annual Report for 2005 is due in the City Clerk's office on
January 31. Since there was some confusion regarding the appropriate figures to include
from the annual report prepared by the actuary, the committee decided a special meeting
would be necessary to approve the 2005 report. Jim moved to meet on Thursday,
January 26, at 1:00 p.m. for the special meeting to approve the Annual Report and
Michele seconded. Motion passed unanimously (6-0). Susan will post this special
meeting on the public notice board and on the Public Events Calendar.
YEAR-END INVESTMENT REPORT:
The year end investment report was presented by Harold. The total portfolio year-to-date
return for 2005 was 9.59%.
2006 ACTUARIAL WORK PLAN:
Pat handed out their Proposed 2006 Actuarial Work Plan. Pat would like to discuss the
actuarial assumptions in February instead of March and the Committee agreed to put this
on the February agenda.
OTHER BUSINESS:
Greg announced the Board and Commissions member training is being held in March and
February that is presented by the City Attorney's Office for board members as well as
City staff. There are two dates members can choose from to attend. Greg recommended
this training for members to stay abreast of the rules and regulations.
ADJOURNMENT:
Susan moved that the meeting be adjourned and Bill seconded the motion. Motion
passed unanimously (6-0) and the meeting adjourned at 2 p.m.
TOPICS FOR NEXT REGULARLY SCHEDULED MEETING:
The next meeting of the Committee will be held on February 9, 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 of Standing Rules
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.i)hp. The Committee's 2004 Annual
Report, 2005 Work Plan, and monthly minutes are available at this site.
General Employees' Retirement Committee
January 12, 2006, Meeting Minutes
Page 3
2006 MEETING SCHEDULE:
The regular meeting time for the Committee is at 1:15 p.m. on the second Thursday of
each month. The regular location is 215 North Mason Street, meeting room 2A. For
2006, the Committee has scheduled the meetings as shown below:
January 12
February 9-(moved to Feb 16 due to lack of quorum)
March 9
April 13
May 11
June 8
July 13
August 10
September 14
October 12
November
December 14