HomeMy WebLinkAboutRetirement Committee - Minutes - 02/26/19746_1
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MINUTES
CITY OF FORT COLLINS
Employees Retirement Board
The meeting of the Employees Retirement Board was held on Tuesday,
February 26, 1974, at City Hall. The meeting was called to order at 4:00 p.m.
by the Chairman, Mr. John D. Hartman.
Members Attending: John D. Hartman, Jack E. Williams and Charlie D. Cain.
Members Absent: Warren Dalke and Dr. Philip A. Shade
Mayor Mable Preble was also in attendance.
The minutes of the September 18, 1973, meeting were approved as submitted
by the secretary.
The following applications for retirement were presented for approval:
RALPH LEE DIXON - All of the programs were read since Mr. Dixon had
not selected a particular program. The first pay-
ment is to begin on May 1, 1974.
ROLEY MOORE - Delayed Retirement Program. $299.60 per month,
payable throughout his life, ceasing with the monthly
payment prior to his death. First payment will be
April 1, 1974. It was noted that Mr. Moore has
been with the City for about 45 years.
JOHN BARTEL - Early Retirement Commencing at Age 65 - $26.63 per
month commencing at age 65 payable throughout his
life ceasing with the monthly payment prior to his
death. First payment to begin October 1, 1974.
WILLIAM FAIRCHILD - Full lump sum payment of $2,681.86 with no further
payments. Payment to be February 1, 1974.
JAMES LA BADIE - Full Joint and Survivor Benefit. $12.70 per month,
payable throughout his life, with a benefit in the
same amount to be continued during the lifetime of
his beneficiary. First payment to be February 1,
1974. Payment will be made on a quarterly basis for
this retired employee.
Mr. Williams made the motion that the program which was selected by
Mr. Dixon be approved and all other applications be approved. Motion was seconded
by Mr. Cain. Motion unanimously carried.
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Employyees Retirement Board
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The annual report for 1973 was presented and accepted.
The proposal for acturial services prepared by Donald R. Mazanec of
Frank B. Hall and Co. of Colorado was discussed. Charlie Cain reported to the
committee that this proposal by Mr. Mazanec was more than they had authorized
him to get. Discussion of whether we should keep Coates, Herfurth and England
or employ Donald Mazanec followed. Mr. Cain relayed to the committee that he
felt that Coates, Herfurth and England were doing a good job and always willing
to help. He did feel that Don Mazanec was a very capable person and the fact
he was closer would be a convenience. Mr. Cain made a motion that we recommend
the proposal prepared by Donald Mazanec, Items 1 through 8, except 3, with Item
6 subject to review by the City Attorney, to the Council for a final decision.
Motion was seconded and carried.
Investments - Discussion of forming a counseling group for investing money.
Consideration should be given to an ordinance giving more flexibility for invest-
ments. Currently investments are short term, perhaps consider longer term.
Date
Meeting was adjourned.
3-5-74
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Charlie D. Cain