PUBLIC STAFF SUMMARY OF MEETING INTERIM COMMITTEE PENSION REVIEW COMMISSION
Date |
09/09/2019 |
Attendance |
Bird |
X |
Danielson |
X |
Exum |
X |
Rodriguez |
* |
Sandridge |
X |
Scott |
X |
Tate |
X |
Van Winkle |
* |
Ginal |
X |
Melton |
X |
X = Present, E = Excused, A = Absent, * = Present after roll call |
|
Time |
10:01:42 AM to 11:33:03 AM |
Place |
HCR 0112 |
This Meeting was called to order by |
Representative Melton |
This Report was prepared by |
Vanessa Reilly |
|
Hearing Items |
Action Taken |
hPresentation from the Fire and Police Pension Association (FPPA) |
Committee Discussion Only |
hPresentation from the Public Employees' Retirement Association (PERA) |
Committee Discussion Only |
hPension Review Subcommittee Recommendations |
Committee Discussion Only |
hPublic Testimony |
Committee Discussion Only |
hBill Draft Requests |
Approved |
|
|
Presentation from the Fire and Police Pension Association (FPPA) - Committee Discussion Only
|
|
|
10:01:53 AM |
Representative Melton made opening remarks.
|
|
10:02:05 AM |
Dan Slack, J. Scott Simon, and Kevin Lindahl, representing the Fire and Police Pension Association (FPPA), gave a presentation to the committee and distributed a handout (Attachment A). Mr. Slack gave updates on the FPPA board membership.
|
|
10:06:59 AM |
Mr. Slack explained changes in the FPPA's membership and investment portfolio.
|
|
10:12:54 AM |
Mr. Slack explained which FPPA members receive cost of living adjustments.
|
|
10:15:00 AM |
Mr. Simon discussed the FPPA plan characteristics, asset allocation, plan risk, and annual returns since plan creation.
|
|
10:26:34 AM |
Mr. Simon responded to committee members' questions regarding returns net of expenses, fees paid by the plan, and change to asset allocation strategy as a result of lowering the assumed rate of return.
|
|
10:27:59 AM |
Mr. Lindahl discussed FPPA's request for draft legislation.
|
|
10:40:27 AM |
Mr. Lindahl responded to a committee member's question regarding FPPA's legislative requests.
|
|
10:40:54 AM |
Mr. Simon responded to a committee member's question regarding risk.
|
Presentation from the Public Employees' Retirement Association (PERA) - Committee Discussion Only
|
|
|
11:00:29 AM |
Ron Baker, Amy McGarrity, and Tim O'Brien, representing the Public Employees' Retirement Association (PERA), presented to the committee and distributed a handout (Attachment B).
|
|
11:01:33 AM |
Ms. McGarrity responded to committee members' questions.
|
Pension Review Subcommittee Recommendations - Committee Discussion Only
|
|
|
11:13:10 AM |
Representative Bird, representing the Pension Review Subcommittee, discussed the subcommittee's activities this interim.
|
Public Testimony - Committee Discussion Only
|
|
|
11:14:18 AM |
Kevin Bommer, representing the Colorado Municipal League, discussed the FPPA's legislative requests.
|
|
11:16:01 AM |
Pam Feely, representing the FPPA board, discussed her experience on the board and FPPA's legislative requests.
|
Bill Draft Requests - Approved
|
|
|
11:27:08 AM |
Nicole Myers, representing the Office of Legislative Legal Services, and Vanessa Reilly, representing Legislative Council Staff, explained the bill request process.
|
11:32:27 AM
|
Motion |
Move to have a bill drafted that includes FPPA's legislative requests. |
|
Moved |
Danielson |
|
Seconded |
Ginal |
|
|
|
|
Bird |
Yes |
|
|
Danielson |
Yes |
|
|
Exum |
Yes |
|
|
Rodriguez |
Yes |
|
|
Sandridge |
No |
|
|
Scott |
No |
|
|
Tate |
Yes |
|
|
Van Winkle |
No |
|
|
Ginal |
Yes |
|
|
Melton |
Yes |
|
|
|
YES: 7 NO: 3 EXC: 0 ABS: 0 FINAL ACTION: PASS |
|
|
11:33:03 AM |
The committee adjourned. |