CITY OF
AGENDA
THURSDAY
917B
CALL TO ORDER:
Councilwoman Brenda Palmer Address the Board regarding the Pension
Board voting requirements
APPROVAL OF REGULAR
MEETING MINUTES FOR
APPROVAL OF REVISED AGENDA:
ADMINISTRATIVE MATTERS:
Elect 2012 Officers (Chair, Vice-Chair & Secretary)
Elect Investment Committee Members
Elect Personnel Committee
Jessica Flores Fiduciary Compliance Presentation
Donald Sams request to establish prior
service as creditable service
EXECUTIVE DIRECTOR COMMENTS:
Financial Report Completed
ATTORNEY COMMENTS:
G1 Litigation Discussion - Post Chancellor
Fanslers Ruling
Derrell Frye Litigation
CONTRACTS:
State Street contract
extension for 2012 has been completed. No changes to the
agreement other than the extension.
Aether Fund II Subsciption documents filed we have committed $7.5M
ENROLLMENTS:
The following General
Government employees have filed applications to become members of the Plan G1
pension system.
Mark Campen
George C. Wallace
WITHDRAWALS:
The following
employees have filed an application to withdraw employee pension contributions
plus 4% interest and the supplemental retirement account as applicable in Plan
G Option 1.
Thomas Farrow, Police Dept. Plan C, non-vested
William H. Smith, III, General Govt. Plan G2, vested
Scot W. Stier, General Govt. Plan G1, non-vested
Kirk Thomas, General Govt. Plan G1, non-vested
APPLICATION FOR
CHARTER SECTION 1360.12
Larry B. Martin, General Govt. Option A-6
100% without reinstatement
Date of birth,
Total credited service: 5 years 2 months 22 days
$697.13 pension (defined benefit) effective
Mr. Martin chose to receive a one time lump sum payment
of the supplemental retirement account applicable in
Plan G Option 1.
APPLICATION FOR PARTICIPATION IN THE DELAYED RETIREMENT OPTION PROGRAM (DROP): PURSUANT TO CHARTER SECTION 1390.22 PLAN C.
The following employees have chosen a Delayed Retirement Option and
will receive a one-time payment of the accumulated monthly benefits on
termination of employment with the City of
Roger D. Byrd, Fire Dept. - Uniformed Option A-9
100% with reinstatement
Date
of birth,
Total credited service: 38 years 2 months 24 days
$4,326.88 pension effective
DROP complete
James C. Claiborne, Police Dept. - Uniformed No Option
Date of birth,
Total credited service: 32 years 10 months 24 days
$3,662.40 pension effective
DROP complete
Timmy W. Kirby, Fire Dept. - Uniformed No Option
Date of birth,
Total credited service: 39 years 9 months 26 days
$3,483.60 pension effective
DROP complete
Michael M. Pacetti, Fire Dept. - Uniformed Option A-6
100%
without reinstatement Date of
birth,
Total credited service: 34 years 4 months 24 days
$3,205.48 pension effective
DROP complete
APPLICATION FOR PARTICIPATION IN THE DELAYED RETIREMENT OPTION PROGRAM (DROP): PURSUANT TO CHARTER SECTION 1371.8 PLAN G.
The following
employee has chosen a Delayed Retirement Option and will receive a one-time
payment of the accumulated monthly benefits on termination of employment with
the City of
Michael A. Cherry, General Government Plan G2 Option A-9
100% with reinstatement
Date of birth,
Total credited service: 15 years 29 days
$2,423.99
pension effective
DROP
complete
Thomas R. Sparkes, General Government Plan G1 Option A-9
100% with reinstatement
Date of birth,
Total credited service: 11 years 3 months 29 days
$385.16
pension effective
DROP
complete
Mr.
Sparkes chose to receive a one time lump sum payment of the supplemental
retirement account applicable in
Plan
G Option 1.
APPROVAL OF INVOICES FOR PROFESSIONAL SERVICES: - Invoice copies in folder
Bryan, Pendleton, Swats & McAllister Actuary (Nov 2011) $20,052.00
State Street Custodial (Nov 2011)
Mr. Cherry, Executive Director, has reviewed the bills and certifies that they are consistent with the services provided and are within the budgeted figures of the systems financial plan.
INVESTMENT MATTERS:
OTHER:
PUBLIC COMMENTS:
ADJOURNMENT:
ESTIMATE OF TIME FOR MEETING: 3.5 hrs.