HomeMy WebLinkAboutRetirement Committee - Minutes - 06/13/2019ciPfbdrins
General Employees Retirement
Committee
215 N. Mason
2"d Floor
PO Box 580
Fort Collins, CO 80522
970.221.6788
970.221 .6782 - lax
fcgov.com
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June 13,2019
215 N. Masoru - Conreneruce Roona
1 B - Flnsr Floon - 1 :15 pnn
Committee Members Present: Clark Mapes, Chairman
John Voss, Vice Chairman
James Lathrop
John Lindsay
Ralph Zenlz
Members Absent: Del Bernhardt
Others Present: Jenny Lopez Filkins
Carolyn Koontz
lVeeting called to order at 1:15 pm
1. Citizen Participation and Plan Member Comments - None made or noted.
2. Consider approving the minutes from the meeting of March 18,2019.
James Lathrop made a motion to approve the minutes f rom the lVarch 18th meeting as
presented. John Lindsay seconded the motion. The minutes were unanimously
approved.
3. Review Draft Monthly lnvestment Report (John Voss in Blaine Dunn's
absence)
Draft report reviewed by the Committee. Blaine will be attending the next meeting and
will present a final report.
4. Revisit Discussion Regarding Frequency of Standard Board Meetings
(John Voss)
Discuss possible revision of meeting cadence.
John Voss proposed modified quarterly meetings (January, April, July and October) plus
February and lVarch meetings to accommodate annual actuarial presentations and
reviews. Six meetings per year. The reasoning is that often, the only new information is
the monthly investment report. The committee discussed whether the monthly
investment pedormance is important enough to warrant monthly meetings, given the
volatility that can occur in that short time frame.
ll an issue comes up that requires attention between scheduled meelings, a special
meeting would be called. Meeting cadence will be discussed with the lnnovest
representatives at the August 8th Fiduciary Training and will be added to the September
12th GERC meeting agenda.
Jenny Lopez Filkins; The GERC should keep in mind the language in the Plan and in
the City Code regarding the process that would need to be followed to make meeting
schedule changes. Code and the Boards and Commissions manual indicate meetings
will be held monthly. A change to the Boards and Commissions manual would have to
be c by the Council with a resolution. The City Clerk's oflice is currently working on
some other changes to the Board and Commissions Manual and perhaps would
consider a request from the GERC to include a change regarding the frequency of the
GERC meetings with the other changes on consent.
5. Members to review and sign the Fiduciary Obligation Acknowledgement
(Jenny Lopez Filkins)
Request that Blaine Dunn review and clarify terms from the Fiduciary Obligation
Acknowledgement at next regular meeting (Page 3 - Trustee may delegate; framework
and boundaries).
James Lathrop made a motion to cancel the July 11th GERC meeting. Motion was
seconded by John Lindsay. l/otion was approved unanimously.
Meeting adjourned at 2:14 PIr/
Clark Mapes, hairman
2
Carolyn oontz, Sta{f Liaison
JSiYt bouins
V/r--
This review and signature of the Fiduciary Obligation Acknowledgement is required
annually. Members present reviewed and signed. Del Bernhardt will have an
opportunity to review and sign at the August Bth meeting. Signed forms will be filed and
copies will be sent to Jenny Lopez Filkins, CAO representative for the GERC and
Christine lt4acrina, City Clerk's office.
6. Other Business