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FORT COLLINS GENERAL EMPLOYEES RETIREMENT COMMITTEE
JANUARY 7, 1993 MEETING MINUTES
COUNCIL LIAISON: Loren Maxey
MEMBERS PRESENT: MEMBERS ABSENT:
Jerry P. Brown Mollie Mercer None
Dennis Sumner Dave Meyer
Alan Krcmarik (Member & Staff Support)
OTHERS PRESENT:
Bob Eichem (Staff Support - Investments)
Sue Wilcox (Staff Support - Secretary)
Don Mazanec of William M. Mercer, Inc., the City's actuarial firm.
CALL TO ORDER: Chairperson Dennis Sumner called the meeting to order at 1:15
p.m. in the Finance Conference Room on January 7, 1993.
APPROVAL OF MINUTES: Mollie Mercer moved and Dave Meyer seconded a motion to
approve the minutes as distributed. The motion carried unanimously.
ITEMS OF NOTE: Sue noted that she had spoken with Mary Crumbaker, who is ill
with bronchitis. Mary had asked that item 2 on the agenda be deferred until
February. Dennis thanked Don Mazanec for providing lunch for the members and
trainees who attended the class in the morning.
REVIEW OF DISCUSSION TOPICS: The agenda was approved as revised.
DISCUSSION TOPICS:
1. PENSION EDUCATION PROGRAM
A. Training Class Schedule
MAIN POINTS: Mollie Mercer presented a schedule of rooms reserved for
the education program and noted that there are 60 slots for members to
sign up as presenters. It was agreed that an alternate would be chosen
for each of Alan's presentations in case he is unable to attend that
session. The schedule of presenters and locations is attached. (See
Post Note also.)
There was some discussion about the possibility of video taping one of
the training sessions. It was decided to discuss this further at
February's meeting.
CONCLUSIONS/DECISIONS: The schedule was acceptable to all.
NEXT STEPS: Mollie will check on the availability of overhead
projectors and screens at all the meeting sites. It was agreed that to
provide refreshments would be very cumbersome with so many sessions.
Most of the areas already have coffee handy and Mollie will request
that it be available if possible. Sue will prepare a sign-up sheet
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that can be passed at each presentation so we have a way of tracking
who and how many attend.
B. Brochure & Handbook
MAIN POINTS: Copies of the brochure and handbook had been handed out
at the training session. If future copies are printed, it was
suggested that the spelling of Alan's last name be corrected. Dennis
noted that Kathleen Tracy had put in a lot of time on the brochure and
the handbook, with all the drafts and many changes. Dennis suggested
writing a letter to her thanking her, with all members signing it. Sue
has arranged for labels of all GERC members to be printed.
CONCLUSIONS/DECISIONS: Dennis will draft a letter to Kathleen and
circulate it for signatures. Each presenter should carry bundles of
the handbooks with them to the meetings for distribution. Sue will see
that the labels are put on the brochures and that the brochures are
distributed before the training sessions begin, along with a flyer
explaining the program and the class schedule.
NEXT STEPS: The Game of Life brochures will be distributed.
C. Fort Notes Articles
MAIN POINTS: No more articles are pending at this time.
CONCLUSIONS/DECISIONS: None
NEXT STEPS: None
D. Posters
MAIN POINTS: Posters publicizing the training session will be prepared
by Kathleen (with the schedule to be provided by Mollie) and printed to
match the brochures.
CONCLUSIONS/DECISIONS: Mollie will provide Kathleen with the training
class schedule. The posters will be printed to match the brochure and
distributed to the same list as used for the job distributions notices.
Jerry requested that he receive some extras for outlying work areas.
NEXT STEPS: Mollie will transmit the schedule to Kathleen.
Kathleen will complete the posters. Mollie will distribute the posters
to the departments.
E. Survey
MAIN POINTS: The general areas that the final survey will cover were
discussed in the training session.
CONCLUSIONS/DECISIONS: The survey will include:
* Clarifying purpose of survey
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* Findings by employee profile
* Opinions on Plan changes
* Knowledge of Plan
* Ranking of features of Plan (most to least value)
* Philosophical questions on expectations of retirement Plan.
* General comments about changes employees would like in the Plan.
* Asking members if they are willing to serve on task committee
to research a given topic and report to GERC.
NEXT STEPS: William M. Mercer Inc. will prepare a draft survey for
GERC review and send it to Sue by January 28th for distribution to
Committee members.
2. ANNUAL REPORT
MAIN POINTS: The draft of the annual report had been distributed to
the members earlier and they had reviewed it. Dennis asked Bob to
supply some additional financial information. The deadline for
submittal to the City Clerk's Office is January 31st.
CONCLUSIONS/DECISIONS: The Committee members concurred with the annual
report.
NEXT STEPS: Dennis will finalize the report with Bob's information and
submit it by January 31st.
AUDITORS' MANAGEMENT LETTER
MAIN POINTS: Alan distributed copies of the pages of the auditors'
management letter which were pertinent to the GER Plan. He noted that
normally the letter from the auditors would be received six or seven
months after the end of the year, so the members must keep in mind that
this information relates to 1991 activities and figures. The Price
Waterhouse auditors were not completely familiar with the activities
and workings of the GERC or with the Plan itself. Also, the auditors
did not speak with the Committee or the actuarial consultant, so there
may be some misleading and/or confusing statements in the letter. Many
of the items they discussed are already in the Work Plan for the
Committee and are being addressed.
CONCLUSIONS/DECISIONS: It was agreed that Alan should draft a reply to
the Auditors' letter and Don Mazanec will draft a reply addressing
items #2 and #3.
NEXT STEPS: Alan and Don will draft their respective replies, which
will be combined into one letter for Dennis to sign.
4. RETIREMENT CLASSES
MAIN POINTS: Bob Eichem had read in the minutes about the Committee's
concerns that the retirement classes continue after Mollie Mercer
retires. Bob volunteered to help Employee Development conduct those
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classes. He felt his background working with retirement plans,
investments and retirees would be beneficial. He asked if this effort
would help address some of the Committee's concerns.
CONCLUSIONS/DECISIONS• Committee members said this would be greatly
appreciated and encouraged Bob to assist with the retirement classes.
It was noted that the final decision on this offer would be made by
Employee Development.
NEXT STEPS: Bob will contact Employee Development about his
willingness to participate. Dennis will also make the suggestion to
Employee Development.
POST NOTE TO ITEMS #IA, page 1: The final schedule of dates and times has
been changed due to conflicts. The two Transfort presentations on January
26th are now on February 22nd.
ITEMS FOR FUTURE DISCUSSION
1. Possible seminars or workshops to increase GER Committee members'
knowledge of their roles and responsibilities.
2. Possible involvement of GER Plan in the 457 deferred
compensation plan.
3. Plan improvements
A. Defined contribution study. (Refer to 10/26/89 meeting
minutes.) Delayed until changes to the current plan have been
studied and resolved. (Refer to 1/25/90 minutes.)
B. Possible conversion of GER Plan to a 401 defined
contribution plan.
C. Rule of 80
4. GERP / Workers Comp / Disability Proposal
5. Legal update on retirement issues.
6. Monitor progress by staff Pension Review Group
AGENDA & SCHEDULE FOR NEXT MEETING
The next meeting will be February 4, 1993 in the Finance Conference Room.
The agenda will include:
1. Fourth Quarter, 1992 Investment Report
2. Pension Education Program - Videotaping
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3. GERP Member Survey
4. Comments on Auditor's 1991 Management letter
5. Retirement benefit questions related to employees injured during
employment with the City.
ADJOURNMENT
The meeting was adjourned at 3:40 p.m.
MEETING SCHEDULE:
THURSDAY, FEBRUARY 4, 1993 THURSDAY, MARCH 4, 1993
THURSDAY, APRIL 1, 1993 THURSDAY, MAY 6, 1993
THURSDAY, JUNE 3, 1993
GERP PRESENTATION SCHEDULE
Wednesday, January 20, 1993
1:00 p.m. EQUIPMENT 835 Wood Angie & Dennis
Thursday, January 21
8:30 a.m. CIC ROOM City Hall West
10:30 a.m. CIC ROOM City Hall West
1:30 p.m. CIC ROOM City Hall West
7:00 a.m. LIGHT & POWER
7:30 a.m. LIGHT & POWER
9:00 a.m. LIGHT & POWER
2:00 p.m. CIC ROOM
8:30 a.m. LIBRARY
Tuesday, January 26
700 Wood/Conf. Rm
Wednesday, January 27
700 Wood/Conf Rm
700 Wood/Conf Rm
City Hall West
Thursday, January 28
201 Peterson
Tuesday, February 2
2:00 p.m. WASTEWATER TREATMENT 3036 E Drake Rd
Thursday. February 4
Angie & Dennis
Jerry & Dave
Jerry & Dave
Angie & Alan
Dennis & Mollie
Dennis & Jerry
Angie & Mollie
Jerry & Dennis
Dave & Alan
Alt.
Dave
Jerry
7:00 a.m.
WATER
700 Wood/Conf Rm
Angie & Mollie
9:00 a.m.
WATER
700 Wood/Conf Rm
Angie & Mollie
9:00 a.m.
WASTEWATER
TREATMENT 3036 E Drake Rd
Dave & Jerry Dennis
Monday, February 8. 1993
7:00 a.m.
PARKS SHOP
413 S. Bryan
Jerry & Alan Mollie
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Tuesday. February 9
9:00 a.m. PLANNING 281 N. College Alan & Dennis Angie
3:00 p.m. C L R S 281 N. College Alan & Mollie Jerry
Wednesday,
February 10
1:00
p.m.
EMPLOYEE DEVELOPMENT 200
W Mtn/Conf Rm
. Angie
& Dave
3:00
p.m.
EMPLOYEE DEVELOPMENT 200
W Mtn/Conf Rm
Angie
& Dave
2:00
p.m.
POLICE TRAINING ROOM City Hall East
Mollie
& Dennis
Wednesday,
February 17
7:00
a.m.
STREETS 700
Wood Street
Dennis
& Mollie
Thursday,
February 18
9:00
a.m.
EMPLOYEE DEVELOPMENT 200
W Mtn/Conf Rm
Jerry
& Mollie
1:00
p.m.
REVENUE/SALES TAX 330
S. College
Angie
& Alan Dennis
3:00
p.m.
REVENUE/SALES TAX 330
S. College
Angie
& Alan Dennis
Friday. February 19
8:15 a.m. ENGINEERING 281 N. College Jerry & Dave
Monday, February 22
10:30 a.m. TRANSFORT 6570 Portner Rd Mollie & Alan Dave
1:15 p.m. TRANSFORT 6570 Portner Rd Mollie & Dave
Tuesday. February 23
9:00
a.m.
TRANSPORTATION SERVICES 235 Mathews
Dave &
Dennis
3:00
p.m.
281 N. COLLEGE CONFERENCE ROOM
Dave &
Jerry
Wednesday, February 24
7:00
a.m.
WATER TREATMENT 4316 Laporte Ave
Alan &
Dennis Mollie
9:00
a.m.
WATER TREATMENT 4316 Laporte Ave
Jerry
& Alan Dennis
M