CITY OF KNOXVILLE PENSION BOARD
AGENDA
THURSDAY – December 8, 2011
8:15 A.M.
917B E. 5TH AVENUE
CALL TO ORDER:
APPROVAL OF REGULAR MEETING MINUTES FOR November 10, 2011:
APPROVAL OF REVISED AGENDA:
ADMINISTRATIVE MATTERS:
Reminder to elect 2012 Officers (Chair, Vice-Chair & Secretary), at the January Board Meeting
Donald Sams – request to establish prior service as creditable service
2006 – 2011 Experience Study and Actuarial Assumption Discussion
EXECUTIVE DIRECTOR COMMENTS:
Pension Board Representatives for the term 2012 -2014
Police Seat A and General Government Seat A
ATTORNEY COMMENTS:
G1 Litigation Discussion - Post Chancellor Fansler’s Ruling
Derrell Frye Litigation
CONTRACTS:
ENROLLMENTS:
The following General Government employees have filed applications to become members of the Plan G1 pension system.
Rachel E. Butzler
Michelle L. Dresch
Rhonda J. Elfvin
Raymond L. Jackson
Julie S. Maxwell
Rocky A. McClulloch
Roger E. Phillips
Dan W. Sambrano
Christine M. Stickler
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.
Jeff Roberts, General Govt. – Plan G1, Vested
Tim Ward, Police Dept. – Plan C, Vested
APPLICATION FOR DEFERRED RETIREMENT: PLAN C
CHARTER SECTION 1390.16
Howard G. Kidder, Police Dept. - Uniformed Option A-9
100% with reinstatement
Date of birth, May 2, 1957: 54 years of age
Total credited service: 13 years 6 months
Last employed: June 2000
$719.45 pension effective December 1, 2011.
APPLICATION FOR DEFERRED RETIREMENT: PLAN G1
CHARTER SECTION 1360.28
Steven E. Roberts, General Govt. No Option
Date of birth, December 1, 1949: 62 years of age
Total credited service: 13 years 7 months
Last employed: August 2003
$1,100.26 pension effective December 1, 2011.
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 Knoxville.
Samuel Rivera, Jr., Police Dept. - Uniformed Option A-4
50% without reinstatement
Date of birth, June 2, 1958: 53 years of age
Total credited service: 25 years 21 days
$2,781.64 pension effective December 1, 2011.
DROP complete November 30, 2013.
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 Knoxville.
James C. Bishop, General Government – Plan G2 Option A-9
100% with reinstatement
Date of birth, November 20, 1955: 56 years of age
Total credited service: 26 years 3 months 6 days
$1,350.44 pension effective December 1, 2011.
DROP complete November 30, 2013.
Betty L. Davis, General Government – Plan G2 No Option
Date of birth, December 1, 1947: 64 years of age
Total credited service: 20 years 3 months 6 days
$1,116.68 pension effective December 1, 2011.
DROP complete November 30, 2013.
John E. Huff, General Government – Plan G2 Option A-6
100% without reinstatement
Date of birth, November 30, 1949: 62 years of age
Total credited service: 17 years 11 months 25 days
$1,181.71 pension effective December 1, 2011.
DROP complete November 30, 2013.
APPROVAL OF INVOICES FOR PROFESSIONAL SERVICES: - Invoice copies in folder
Bryan, Pendleton, Swats & McAllister – Actuary (Oct 2011) $33,784.00
State Street – Custodial (Oct 2011) 8,507.36
State Street – Trustee (Oct 2011) 3,388.28
Calamos – Money Manager (3rd Qtr 2011) 24,858.00
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 system’s financial plan.
INVESTMENT MATTERS:
Investment Committee Minutes
De-risking recommendation
OTHER:
PUBLIC COMMENTS:
ADJOURNMENT:
ESTIMATE OF TIME FOR MEETING: 2 hrs.