HomeMy WebLinkAboutRetirement Committee - Minutes - 07/21/1977i
MINUTES
CITY OF FORT COLLINS
• EMPLOYEES' RETIREMENT BOARD
MEETING HELD JULY 21, 1977
Members Present: John Hartman, Warren Dalke, Jack Williams, and Ronald Wood
Members Absent:
Others Present:
Philip Shade
Lucia Liley
Meeting was called to order July 21, 1977 at 3:00 p.m. Ronald R. Wood
advised the board that Manuel Kerbel had requested the board reconsider
their decision to deny him a lump sum payment. Lucia Liley, Assistant
City Attorney, was then asked to advise the board of the legal implica-
tions in this matter.
Mrs. Liley advised the board that as the plan now reads a lump sum payment
was an option available to a disabled retiree, but the board was still able
to deny the payment in this case because they must consider the viability
of the plan. The two options available to the board were:
1. Deny the lump sum payment if it would jeopardize the viability of the
• fund. Even though the needs of a person were to be taken into consider-
ation, Mrs. Liley felt the viability of the fund should be a priority.
2. Since the Council has not acted on the disability amendment, which would
no longer allow lump sum payments unless the monthly payment was less
than $25.00, the board could grant the lump sum payment at this time.
After discussion by board members, it was decided that one more lump sum
payment would not be detrimental to the viability of the fund. Several
members expressed a real concern as to the moral/ethical implications if
we did not grant this lump sum payment since previous requests had been
approved.
Jack Williams moved "We approve a lump sum payment to Mr. Kerbel as one
of the options we have and explain to him that this will be the last large
lump sum payment. Under the new plan this will not be available which we
will explain to him." Seconded by Warren Dalke. Unanimous approval by
board.
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Minutes
• Employees' Retirement Board
Meeting - July 21, 1977
Page 2
Manuel Kerbel and his attorney, Kenneth Gross, were then invited to attend
the meeting. Mr. Kerbel was advised that the board had decided to grant
him the requested lump sum payment in the amount of $17,372.33. They did,
however, wish to advise him of the reasons for the original decision and
also what considerations were analyzed in the final decision.
Assistant City Attorney Lucia Liley explained to Mr. Kerbel the various
items considered and also advised that under the new plan, if approved
by Council, large lump sum payments would not be permitted.
Meeting adjourned.
Respectfully submitted,