HomeMy WebLinkAbout2023 - Retirement Committee - Annual ReportANNUAL REPORT
City of Fort Collins
General Employees Retirement Committee
(GERC)
2023 Annual Report
9 Meetings Held 3 Meetings Cancelled Meetings canceled due to lack of
agenda topics
1. Prepare 2023 GERC Annual Report for City Council prior to January 31,
2024.
2. Elect Officers and Review GERC standing rules in February 2023.
Elections took place as required. Clark Mapes was reelected Chair and
Randy Bailey was elected Vice Chair.
3. Continue Monitoring of Retirement Plan and the appropriate level of
contributions. The preliminary Actuary Valuation report for year-end 2022
was reviewed by the GERC at the March 9, 2023, meeting. The valuation
report was adopted by the committee.
4. Revise assumptions prior to March 1, if necessary for the 2023 report.
The assumptions were reviewed at the February 9th meeting.
5. The ‘Personal Retirement Planning Statement’ form was discussed at the
April meeting with no changes recommended by the committee. The
statements were distributed to active GERP participants in April.
6. Review Quarterly and Monthly Investment Reports. The quarterly
investment reports were reviewed by the committee to verify the
investment portfolio is in compliance with GERP policy. Changes to the
portfolio were also reviewed along with investment performance.
7. Prepare Work Plan for 2024 by November 2023. Reviewed the GERC
Work Plan for 2024 at the October 7, 2023, meeting. The 2023 work plan
was approved and submitted to the City Clerk.
8. Provide and enhance educational opportunities for GERP members and
GERC Board members as appropriate. During 2024, we plan to have the
entire Board trained by Innovest Portfolio Solutions LLC in their fiduciary
responsibilities.
9. The web site for the General Employees’ Retirement Committee will be
monitored and updated as needed, and the meeting minutes will be
posted once they have been approved and signed. The staff liaison will
work with the Boards & Commission Team in the City Clerk’s office to
make sure all posted information is current.