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HomeMy WebLinkAboutRetirement Committee - Minutes - 09/03/1992& 0 FORT COLLINS GENERAL EMPLOYEES RETIREMENT COMMITTEE SEPTEMBER 3, 1992 MEETING MINUTES COUNCIL LIAISON: Loren Maxey MEMBERS PRESENT: MEMBERS ABSENT: Jerry P. Brown Mollie Mercer Dennis Sumner Dave Meyer Alan Krcmarik (Member & Staff Support) OTHERS PRESENT: Sue Wilcox (Staff Support - Secretary) Mary Crumbaker (Staff Support - Legal) Ann Turnquist, staff member of Pension Review Group Don Mazanec of William M. Mercer, Inc. CALL TO ORDER: Chairperson Dennis Sumner called the meeting to order at 1:15 p.m. in the Finance Conference Room on September 3, 1992. APPROVAL OF MINUTES: Dave Meyer moved that the minutes of the August 6 meeting be approved as distributed. Mollie Mercer seconded the motion and the motion carried. ITEMS OF NOTE: Angelina Powell could not attend today, but asked to be kept informed of progress and activities on the Education Program. It was agreed to add to Items for Future Discussion the topic of a Legal Update on Retirement Issues, which Mary, at a previous meeting, had suggested doing. REVIEW OF DISCUSSION TOPICS: The agenda was approved. DISCUSSION TOPICS: 1. STAFF COMMITTEE ON PENSION ACTIVITIES MAIN POINTS: Ann Turnquist is a member of the Pension Review Group, which is composed of staff members from Employee Development, Finance, Administrative Services, Poudre Fire Authority and the Police Department. The group was formed when staff members realized that there were no clear staff assignments for administrative support of the City's seven pension plans. The Review Group's activities have included setting goals, listing and evaluating the ways that the City can oversee all the pension plans, and developing a master list of work plan activities related to pensions. CONCLUSIONS/DECISIONS: This was simply a presentation explaining that the Pension Review Group exists and establishing communication with the GERC. No conclusions or decisions were made. NEXT STEPS: Ann or another member will attend GERC meetings from time to time. -1- 2. RETIREMENT BENEFIT QUESTIONS RELATED TO EMPLOYEES INJURED DURING EMPLOYMENT WITH THE CITY A. JACK SEHESTEDT MAIN POINTS: Mary Crumbaker had prepared and distributed a memo regarding the disability of Jack Sehestedt while he was employed by the City. Don Mazanec advised that the "date of disablement" is the date of the injury which resulted in the person not being able to work. There was much discussion about Mr. Sehestedt's situation, with a number of points being clarifed. CONCLUSIONS/DECISIONS: The date of disablement is March 21, 1986, not December 6, 1986, which was used in the original calculations. Mary will revise her memo taking this new information into account. NEXT STEPS: Mary will re -calculate Mr. Sehestedt's benefits using the new information and present the new information to the Committee at the next meeting. B. BOB W. HATTEN MAIN POINTS: At this time Jerry Brown excused himself from the meeting, as he felt that his presence was a conflict of interest since he had been involved with the original circumstances involving Mr. Hatten. Mary Crumbaker discussed a draft of a memo dated August 5, 1992 in which she outlined the events and applicable plan provisions surrounding Mr. Hatten's injury and ensuing actions, and how they affected his credited service. CONCLUSIONS/DECISIONS: The Committee accepted Mary's conclusions as written. NEXT STEPS: Mary will check further on whether or not Mr. Hatten could perform any duties associated with his original position, but that will not affect her conclusions as written. She will finalize the memo for Committee action at the next meeting. 3. PENSION EDUCATION PROGRAM A. REVIEW OF EDUCATION BROCHURE MAIN POINTS: The Committee reviewed the latest draft of the employee education brochure. CONCLUSIONS/DECISIONS: A number of editorial and format changes were proposed by the Committee. It was concluded that 1500-2000 copies of the brochure should be printed. NEXT STEPS: Don Mazanec will review the changes proposed in the meeting with Amy Coffern (William E. Mercer person who drafted brochure for the GERC). Amy will then follow up with Dennis on any additional -2- 0 0 comments. Dennis is then to work with Kathleen Tracy to get this brochure to a more final draft. B. HANDBOOK REVISIONS & PRINTING MAIN POINTS: The handbook must be ready in time for the education classes, so the changes to it are not as urgent as those for the brochure. Changes to the Disability section outlined by Mary and Don and Committee comments will be included in the next draft. CONCLUSIONS/DECISIONS: The next draft should be the final one. NEXT STEPS: Don will discuss the handbook revisions with Amy Coffern. Amy will prepare the next draft and forward to Committee for review. C. FORT NOTES ARTICLES MAIN POINTS: Dave Meyer reported that tomorrow's FORTNOTES issue will have his first article in it and he will distribute his draft of the next article by the end of next week, with comments needed by Sept. 21. Dave will include Alan's name as a member of the Committee. CONCLUSIONS/DECISIONS: The articles have been a good start to the education program. Angelina Powell will prepare the next article. NEXT STEPS: The next article will discuss how the City has helped employees plan for retirement. 4. ELECTION OF OFFICERS MAIN POINTS: Jerry Brown commented that since Dennis Sumner had been doing such a great job as chairperson, that he would nominate Dennis to continue as chairperson for the 1992-93 term. Mollie Mercer seconded the motion and suggested that he be elected by acclimation, which was done. Jerry then nominated Mollie Mercer to be vice chairperson and Alan Krcmarik seconded the motion. The vote was unanimous in favor of the nomination. There being no other nominations, Mollie was elected by acclimation also. CONCLUSIONS DECISIONS: Dennis Sumner and Mollie Mercer will serve as chairperson and vice -chairperson, respectively, for the 1992-93 term. NEXT STEPS: The new officers will assume their duties at the next meeting. ITEMS FOR FUTURE DISCUSSION 1. Pension Investment Seminar/Public Benefit Plans Workshop 2. Possible involvement of GER Plan in the 401(a) deferred compensation plan. -3- 3. Plan improvements A. Defined contribution study. (Refer to 10/26/89 meeting minutes.) Delayed until changes to the current plan have been studied and resolved. (Refer to 1/25/90 minutes.) B. Possible involvement of GER Plan in the 401(a) defined contribution plan. C. Rule of 80 4. GERP / Workers Comp / Disability Proposal to E-Team 5. Monitor progress by staff Pension Review Group. 6. Legal update on retirement issues. AGENDA 8 SCHEDULE FOR NEXT MEETING The next meeting will be October 1, 1992 in the Finance Conference Room. The agenda will include: 1. Pension Education Program/handbook/brochure 2. Training Program for employee presentations/set training calendar. 3. Decisions on credited service questions related to employees injured during City employment. A special training session will be held October 2, 1992 from 8:30 a.m. to noon in the City Hall West 2nd floor conference room. The training will prepare the members for educating the employees about the Pension Plan. ADJOURNMENT The meeting was adjourned at 4:08 p.m. MEETING SCHEDULE: THURSDAY, OCTOBER 1, 1992 THURSDAY, NOVEMBER 5, 1992 THURSDAY, DECEMBER 3, 1992 THURSDAY, JANUARY 7, 1993 THURSDAY, FEBRUARY 4, 1993 THURSDAY, MARCH 4, 1993 THURSDAY, APRIL 1, 1993 THURSDAY, MAY 6, 1993 THURSDAY, JUNE 3, 1993 -4-