HomeMy WebLinkAboutRetirement Committee - Minutes - 04/08/1974MINUTES 0
CITY OF FORT COLLINS
6 Employees Retirement Board
A special meeting of the Employees Retirement Board was called to
order by the Chairman, Mr. John D. Hartman on Monday, April 8, 1974, at
10:00 a.m. The primary reason for this meeting was the review of two
retirement applications.
Members Attending: John D. Hartman, Warren Dalke, and Charlie D. Cain
Members Absent: Dr. Philip A. Shade, and Jack E. Williams
The following applications for retirement were presented for approval:
GERTRUDE RAMSEY - Delayed Retirement Benefit. $56.40 per month,
payable throughout her life, ceasing with the
monthly payment prior to her death. First pay-
ment will begin June 1, 1974.
DIXIE SPICER - Full lump sum payment of $4,092.89 with no further
payment. Retirement date is May 1, 1974.
Mr. Cain explained to the members that Mrs. Spicer
was being allowed 50% credited service during the
• period April 1, 1953, to May 1, 1966, at which time
she was employed both by the City of Fort Collins
and the County of Larimer.
Mr. Dalke made the motion we accept Gertrude Ramsey's application and
it was seconded by Charlie Cain. Motion carried. Charlie Cain made the
motion we accept Mrs. Spicer's application and it was seconded by Warren
Dalke. Motion carried.
The status of the actuarial study was discussed and it was reported that
after Don Mazanec received the information requested from the City it would
take approximately six weeks to complete the study. The interest rate to be
used in the study was discussed. It was generally felt that 5% was a reasonable
figure. Charlie will discuss this with Mr. Mazanec.
Investments - The minutes of the meeting held February 26, 1974, were
consulted to determine if a formal proposal had been made to establish a
committee to discuss different investments. The minutes revealed that there
was discussion concerning this, but no motion was made to this effect. Mr. Cain
felt it would be worthwhile to try to have the Police and Fire Pension Committees
included in some of these discussions to share ideas about investments. Charlie
is to check with Art March, City Attorney, to see what types of investments we
could consider. It was suggested that Mr. March be at our next retirement meet-
ing. It will probably be necessary to have more meetings as these investment
discussions progress.
Another meeting will be called after the actuary study is completed and
after Art March has given some ideas of what investments could be considered.
Date: April 12, 1974 F LG, �i.
Charlie D. Cain