HomeMy WebLinkAboutRetirement Committee - Minutes - 01/13/2022
General Employees Retirement
Committee
215 N. Mason
2nd Floor
PO Box 580
Fort Collins, CO 80522
970.221.6788
970.221.6782 - fax
fcgov.com
GENERAL EMPLOYEES’ RETIREMENT COMMITTEE ZOOM MEETING
MINUTES
JANUARY 13,2022
11 AM
Committee Members Present: Clark Mapes, Chair
Blaine Dunn
Del Bernhardt
Ralph Zentz
Jackie Darner (not present)
Others Present: Amanda Newton
Nikki Daniels
Jenny Lopez Filkins
Joel Stewart, Milliman
Carolyn Koontz
___________________________________________________________________
Meeting called to order at 11:08 am
1. Citizen Participation and Plan Member Comments
None noted
2. Consider Approving the Minutes from the Meeting of December 9, 2021
Blaine Dunn made a motion to approve the minutes with the requested change.
Del Bernhardt seconded the motion.
3. Review and Consider Plan Member Requests for retroactive payment of benefits due to
failure to send eligibility letters. The Committee reviewed the four letters received from
members and considered and approved retroactive payments to Kevin McBride, Kevin
Meredith, Linda Dowlen and Steve Comfort.
Blaine Dunn made a motion to approve retroactive payment for four members; Kevin
McBride, Kevin Meredith, Linda Dowlen and Steve Comfort back to when they turned age
65. Ralph Zentz seconded the motion.
Approval confirmed via roll call; Clark Mapes, Ralph Zentz, Del Bernhardt, Blaine Dunn,
Jackie Darner (not present).
Next Step; Amanda and Nikki will work with the Payroll team on processing the retroactive
payments.
GERP administrator Nikki Daniels has not been able to reach or make contact with the
following members: Thomas Chapel, Thomas Fort and Sharon Getz)
DocuSign Envelope ID: 48112DBA-F342-453C-BCF3-6FA4FC5180A9
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4. Plan Participant Updates (Nikki Daniels)
The Department of Labor updated the fiduciary standards for reaching members.
We have an obligation to pursue getting in contact. Nikki is working with Pension Benefit
Information (PBI) on locating accurate contact information for the three members she has
not been able to reach; (Thomas Chapel, Thomas Fort and Sharon Getz)
5. Review Plan Letters & Election Packet with Committee (Nikki Daniels).
The committee reviewed the letter currently being sent to members at age 64 1/2 notifying
them of eligibility to receive benefits at age 65.
The committee also reviewed the packet contents sent to members when the elect to start
receiving a benefit.
No requested changes were made by any GERC member.
6. Review and Consider Approving the GERC 2021 Annual Report
Blaine Dunn made a motion to accept and approve the GERC 2021 Annual Report as
presented. Del Bernhardt seconded the motion.
Approval confirmed via roll call; Clark Mapes, Ralph Zentz, Del Bernhardt, Blaine Dunn,
Jackie Darner (not present).
7. Review Investment Report (Amanda Newton)
8. Other Business
Blaine Dunn; The amended GERP plan document was taken to City Council last month and
they approved it on consent. The officially amended and restated plan was approved as of
1/1/22. Carolyn will circulate the amended and restated GERP document to members for
signatures via DocuSign
DocuSign Envelope ID: 48112DBA-F342-453C-BCF3-6FA4FC5180A9
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We will bring the GERC Member Acceptance of Trust Forms to the February 10th meeting for
review prior to signing.
February 10th GERC meeting agenda item - Review Key Assumptions to be used in Annual
Actuarial Evaluation (Joel Stewart). It looks like the Plan will be 90% funded.
Meeting adjourned at noon
Clark Mapes, Chair
Carolyn Koontz, Staff Liaison
DocuSign Envelope ID: 48112DBA-F342-453C-BCF3-6FA4FC5180A9