01-30-2001 New
GENERAL EMPLOYEES PENSION BOARD
MEETING
January 30, 2001
CALL TO ORDER:
The General Employees Pension Board meeting was called to order by Chairman Lichter in the
City Hall Conference Room, Tuesday, January 30, 2001 at 2:00 p.m.
ROLL CALL:
Members present: Judith Lichter, Jack Corder, Eric Bosse, Lisa Miller and Mike Tenney.
Kathy Cornelius was absent. Also present were Donna Looney, Payroll Pension
Specialist/Recording Secretary, Jack Ascherl, Consulting Agent of Record, Debby Sigler,
Personnel Director and Ken Hooper, City Manager.
APPROVAL OF MINUTES:
Lisa Miller moved to approve the July 17, 2000 minutes. Seconded by Eric Bosse. Motion
CARRIED 5 -0.
Jack Corder moved to approve the October 11, 2000 minutes. Seconded by Eric Bosse.
Motion CARRIED 5 -0.
Eric Bosse moved to approve the November 8, 2000 minutes. Seconded by Jack Corder.
Motion CARRIED 5 -0.
OLD BUSINESS:
Jack Ascherl reviewed each proposed benefit change. He explained that these changes, if
adopted by the City, do not affect those who have already retired.
The board members discussed the questions arid opinions expressed to them by employees.
The consensus was that the majority of the employees in this plan would like to see these changes
and are willing to help with the costs.
Jack Ascherl pointed out that there is a 7.1% increase in the funding for these new benefits
and it looks like the employees are being asked to cover less than half.
Jack Corder moved to recommend the City Manager take these proposals to the Council,
adding that the employees will pay 2.5% of their salaries to cover a share of the costs. Being
seconded by Lisa Miller. Motion CARRIED 5 -0.
NEW BUSINESS:
Jack Ascherl reviewed the Expense Statement covering 1 -1 -00 through 9 -30 -00 and the Flexible
Pension Investments on an individual basis (see attached). He emphasized, when reviewing the
Benefit Index, that at some time in the near future, the City may want to instruct Principal to
change the way they are handling the monies set aside for retirees. He explained that by not
setting these monies aside in a separate account, the City will maintain a better cash flow
situation.
City Manager, Ken Hooper stated that he and Mr. Ascherl have discussed this before. It was
agreed that it can be looked into and discussed with the Finance Director, perhaps at another
meeting.
ADJOURNMENT:
There being no further business, Chairman Lichter announced the meeting adjourned at 2:45 p.m.
Minutes submitted by:
Personnel Department