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HomeMy WebLinkAbout1999 Deferred Compensation Committee Minutes MINUTES OF THE CITY OF LANSING DEFERRED COMPENSATION COMMITTEE Regular Meeting December 9, 1999 8th Floor Conference Room Thursday, 9:30 a.m. City Hall Lansing, MI 48933 Present: Bommarito, McComb, Rubley, Swanson, Wiener, Wilson — 6 Absent: Hilton Others: Kent Miller plus one other person, T. Rowe Price Representatives The minutes of the regular meeting of October 14, 1999 were reviewed and a motion was made to approve them. Agreed upon unanimously. Mr Rubley made a motion supported by Mr. McComb to enter into a new master contract with Aetna. Agreed upon unanimously. Ms. Bommarito gave an update on the Education Committee's meeting. Mr. Kent Miller from T. Rowe Price gave their annual update. It was moved by Mr. Wilson supported by Mr. Wiener to excuse Mr. Hilton from the meeting. Agreed upon unanimously. MINUTES OF THE CITY OF LANSING DEFERRED COMPENSATION COMMITTEE `/mil.. }l•'1j1 `�1(l 1�.. /`J ' CLEP, Regular Meeting October 14, 1999 9th Floor Conference Room Thursday, 9:30 a.m. City Hall Lansing, MI 48933 Present: Bommarito, McComb, Rubley, Wiener, — 4 Absent: Hilton, Swanson, Wilson Others: Gary Gustafson, Jeff Burnham, Finance Department; Jack Jordan, Law Department, Mark Jackowitz, Aetna Representatives. The minutes of the regular meeting of September 9, 1999 were reviewed and a motion was made by Mr. Rubley supported by Mr. Wiener to approve them. Agreed upon unanimously. The Administrative Committee did not meet. Mr. Rubley made two motions supported by Mr. Wiener to differ to the Investment Sub—Committee to review the fees for the Aetna Contract and to approve the fees upon favorable recommendation from the Sub—Committee. Agreed upon unanimously. It was moved by Mr. Wiener supported by Ms. Bommarito to excuse Mr. Hilton, Mr. Swanson and Mr. Wilson from the meeting. Agreed upon unanimously. CITY OF LANSING DEFERRED COMPENSATION COMMITTEE AGENDA 8th Floor.City Clerk Conference Room Thursday, 9:30 a.m. City Hall November 4, 1999 Lansing, MI 48933 1. Call to Order. 2. Roll Call: Bommarito, Hilton, McComb, Rubley, Swanson, Wiener, Wilson — 7 3. Public Comments for items on the Agenda. 4. Reading of the Minutes of the Regular Meeting of October 14, 1999. 5. Committee Reports — Administration — Investments — Education 6. Excusing of Committee Members. 7. Other Business. a. NAGDCA Legislative Update CANCELLED Y f c l�J MINUTES OF THE CITY OF LANSING ==` ' '{ DEFERRED COMPENSATION COMMITTEE r': I =' 1, CI i Y CLERI;. Regular Meeting September 9, 1999 8th Floor Conference Room Thursday, 9:30 a.m. City Hall Lansing, MI 48933 Present: Bommarito, Hilton, McComb, Rubley, Swanson, Wilson, — 6 Absent: Wiener 0lhers: Gary Gustafson, Finance Department; Jack Jordan, Law Department, Allen Van Gorder, Mark Jackowilz, Aetna Representatives. The minutes of the regular meeting of July 8, 1999 were reviewed and a motion by Mr. Rubley supported by Ms. McComb to approve them. Agreed upon unanimously. Allen Van Gorder gave an automation update about Aetna and also presented the new fee schedules. It was moved by Mr. Rubley and supported by Mr. McComb to refer to the Investment Committee for review by October concerning the new fee schedules. Agreed upon unanimously. Mr. Rubley reported on the move of the Deferred Processing Center from Personnel to Finance. Ms. Robin Noe will now process employees Deferred Compensation requests. The Investment Committee did not meet. Mr. Hilton agreed to serve on the Education Committee. It was moved by Mr. Rubley supported by Mr. McComb to excuse Mr. Wiener from the meeting. Affreed upon unanimously. CITY OF LANSING E `ERRED COMPENSATION COMMITTEE -9 PH 1= 57 AGENDA LANSING CITY CLERK 8th Floor Conference Room Thursday, 9:30 p.m. City Hall August 12, 1999 Lansing, Ml 48933 I. Call to Order. 2. Roll Call: Bommarito, Hilton, McComb, Rubley, Swanson, Wiener, Wilson - 7 3. Public Comments for items on the Agenda. 4. Reading of the Minutes of the Regular Meeting of July 8, 1999. 5. Committee Reports - Administration a. 8th Floor Processing Center - Investments - Education 6. Excusing of Committee Members. 7. Other Business. a. Pending Retirement Account Portability Act Cancelled Nouorum q MINUTES OF THE CITY OF LANSING DEFERRED COMPENSATION COMMITTEE ;". I Bit Regular Meeting July 8, 1999 8th Floor Conference Room Thursday, 9:30 a.m. City Hall Lansing, Ml 48933 Present: Hilton, McComb, Rubley, Swanson, Wiener, - 5 Absent: Bommarito, Wilson Others: Gary Gustafson, Finance Department; Margo Vroman, Law Department Barney Robke, Fire Department The minutes of the regular meeting of June 10, 1999 were reviewed and a motion by Mr. Hilton supported by Ms. McComb to approve them. Agreed upon unanimously. Mr. Wiener gave a report from the education committee on the brown bag meetings that they were generally well received when they were presented outside of City Hall. Mr. McComb discussed the new processing center for Deferred Compensation being moved to the 8th floor and that he would write an article for the news letter informing employees of the change and its hours of operation. Mr. Rubley explained how the Deferred Compensation Committee came about, the composition of the board and what are the duties of the board. This was in response to the question posed by the visitor who was questioning the possible dropping of certain investment options. It was moved by Mr. McComb supported by Mr. Hilton to excuse Ms. Bommarito and Mr. Wilson from the meeting. Agreed upon unanimously. MINUTES OF THE CITY OF LANSING DEFERRED COMPENSATION COMMITTEE r„t Regular Meeting June 10, 1999 8th Floor Conference Room Thursday, 9:30 a.m. City Hall Lansing, MI 48933 Present: Bommarito, McComb, Rubley, Wiener, — 4 Absent: Hilton, Swanson, Wilson Others: Gary Gustafson, Finance Department; Jack Jordan, Law Department The minutes of the regular meeting of April 8, 1999 were reviewed and a motion by Mr. Wiener supported by Ms. Bommarito to approve them. Agreed upon unanimously. The Administration Committee discussed the possibility of Seasonal and Part Time Employees being allowed to enroll in Deferred Compensation. Mr. Jordan stated that there isn't any legal reason that they shouldn't be allowed. The Committee is going to continue exploring this possibility. The Investment Committee discussed the possibility of changing some of the Funds currently being offered for investment. Mr. Rubley stated that this could be brought up with T. Rowe Price & Co. on their next visit. It was moved by Mr. Rubley supported by Mr. Wiener to excuse Mr. Hilton, Mr. Swanson, and Mr. Wilson from the meeting. Agreed upon unanimously. n'r- CITY OF LANSING t1q, 12 02 DEFERRED COMPENSATION COMMITTEE LANSltdc CITY CLERK AGENDA 8th Floor Conference Room Thursday, 9:30 p.m. City Hall May 13, 1999 Lansing, MI 48933 1. Call to Order. 2. Roll Call: Bommarito, McComb, Rubley, Swanson, Wiener, Wilson - 6 3. Reading of the Minutes of the Regular Meeting of April 8, 1999. 4. Committee Reports - Administration a. Seasonal or Part Time Employees - Investments - Education 5. Excusing of Committee Members. 6. Other Business. a. Pending Retirement Account Portability Act CANCELED NO QUORUM MINUTES OF THE CITY OF LANSING DEFERRED COMPENSATION COMMITTEE .. Regular Meeting April 8, 1999 8th Floor Conference Room Thursday. 9.30 a.m. City Hall Lansing, MI 48933 Present: Bommarito, McComb, Swanson, Wiener, Wilson - 5 Absent: Rubley The minutes of the regular meeting of March 11, 1999 were reviewed and a motion by Mr.- McComb supported by Mr. Wilson to approve them. Agreed upon unanimously. Mr. Wiener gave a synaposis of the Education Committee's Retirement Sessions that are planned for September and December. It was moved by John McComb supported by Dave Wiener to excuse Doug Rubley from the meeting. Agreed upon unanimously. MINUTES OF THE CITY OF LANSING DEFERRED COMPENSATION COMMITTEE �L `° ``7 G '.II y CLER. Regular Meeting March 11, 1999 8th Floor Conference Room Thursday, 9:30 a.m. City Hall Lansing, MI 48933 Present: Bommarito, McComb, Rubley, Swanson, Wiener — 5 Absent: Wilson The minutes of the regular meeting of February 11, 1999 were reviewed and a motion by Mr. Rubley was supported by Mr. McComb to approve them. Agreed upon unanimously. Mr. McComb discussed the Hardship Withdrawal Form which has been reviewed and approved by Jack Jordan (Law Department) and has now been forwarded to Finance and Personnel for implementation. It was moved by John McComb supported by Doug Rubley to excuse Pete Wilson from the meeting. Agreed upon unanimously. It was moved by Doug Rubley supported by supported by Dave Wiener to approve the 1999 meeting dates. Agreed upon unanimously. It was moved by John McComb supported by Dave Wiener to approve new procedures for filling vacancies on the Deferred Compensation Board. The rules are amended to allow the mayor to appoint members to the Deferred Compensation Committee for unfilled Interim vacancies. Agreed upon unanimously. MINUTES OF THE CITY OF LANSING DEFERRED COMPENSATION COMMITTEE Regular Meeting February 11, 1999 8th Floor Conference Room Thursday, 9.30 a.m. City Hall Lansing, MI 48933 Present, McComb, Rubley, Swanson, Wiener, Wilson, - 5. Absent: Bommarito The minutes of the regular meeting of November 1), 1998 were reviewed and a motion by Mr.' Rubley was supported by Mr. Wilson to approve them. Agreed upon unanimously. It was moved by John McComb supported by Pete Wilson to excuse Sharon Bommarito from the meeting. Agreed upon unanimously. John McComb asked to be excused prior to a discussion by Jack Jordan regarding Eufemio Lorgoria but was informed by chairman that no voting was to be done so there was no need to leave. Moved by Mr. Rubley supported by Mr. Wilson to hold the election for two positions on the Deferred Compensation Committee. Agreed upon unanimously. Moved by Mr. McComb supported by Mr. Wilson to use the form submitted by Mr. McComb for Hardship Withdrawals (as amended). Agreed upon unanimously.