HomeMy WebLinkAboutMinutes - Public Safety Personnel Retirement System Board - 5/22/2019 MINUTES
ORO VALLEY TOWN COUNCIL—BUDGET AND FINANCE
COMMISSION—CORRECTIONS OFFICER RETIREMENT PLAN
BOARD AND THE PUBLIC SAFETY PERSONNEL RETIREMENT
SYSTEM BOARD
JOINT STUDY SESSION
May 22,2019
ORO VALLEY COUNCIL CHAMBERS
11000 N.LA CANADA DRIVE
JOINT STUDY SESSION AT OR AFTER 6:00 PM
CALL TO ORDER
Mayor Winfield called the meeting to order at 6:01 p.m.
ROLL CALL
PRESENT: Joseph C.Winfield,Mayor
Melanie Barrett,Vice-Mayor
Joyce Jones-Ivey,Councilmember
Josh Nicolson,Councilmember
Rhonda Pina,Councilmember
Bill Rodman,Councilmember (attended via phone)
ABSENT: Steve Solomon,Councilmember
BUDGET AND FINANCE COMMISSION
PRESENT: James Beasley,Chair
John Latchford,Vice-Chair
Charles Kill-Member
David Newell,Member
Cathy Solverson,Member
CORRECTIONS OFFICER RETIREMENT PLAN BOARD
ABSENT: Carlene Kron,Chair
Michelle DeVault,Member
Roberta Hindenlang Member
Dan Rhoads,Member
Brett Sadovnick,Member
5/22/19 Minutes,Town Council Joint Study Session 1
PUBLIC SAFETY PERSONNEL RETIREMENT SYSTEM BOARD
PRESENT: Stacey Lemos,Chair
Katherine Beck,Member
Richard Tracy-Member
ABSENT: Pete Clegg,Member
Andrew Lopez,Member
JOINT STUDY SESSION AGENDA
1. PRESENTATION AND DISCUSSION BY REPRESENTATIVES OF THE PUBLIC
SAFETY PERSONNEL RETIREMENT SYSTEM(PSPRS)REGARDING THE
STATUS AND OPERATION OF THE PSPRS OVERALL AS WELL AS ORO
VALLEY'S PSPRS PLAN
Public Safety Personnel Retirement System Deputy Administrator Dave DeJonge and
Employer Relations Manager Phil Coleman presented item#1 and included the
following:
-PSPRS-What we do
-PSPRS-Board of Trustees
-Actuarial Concepts
-Basic Retirement Funding Equation
-Contributions(C)
-Investment Concepts
-Investment Strategy(1)
-Investment Income(I)
-Investment Performance(I)
-Benefits(B)
-Unfunded Actuarial Accrued Liability(UAAL)
-Experience Gain/Loss Factors
-Reasons for Change
-Section A-Intro Summary of ER Pension Rates
-Section A-Introduction
-Section B-Funding Results
-Funding
-Section D-Census Data
-Dispatchers
-Contact Us
Questions and comments from Council,members of the Budget and Finance
Commission and Public Safety Personnel Retirement System Board were received
5/22/19 Minutes,Town Council Joint Study Session 2
during and after the presentation regarding the status and operation of the PSPRS
overall as well as Oro Valley's PSPRS plan.
ADJOURNMENT
Mayor Winfield adjourned the meeting at 7:46 p.m.
e Lkt
Michelle Stine,MMC
Deputy Town Clerk
I hereby certify that the foregoing minutes are a true and correct copy of the minutes of
the joint study session of the Town of Oro Valley Council of Oro Valley,Arizona held on
the 22"d day of May,2019. I further certify that the meeting was duly called and held
and that a quorum was present.
Dated this .; `' day of S/lP_ ,2019.
Michael StandisPi 2CMC
Town Clerk
5/22/19 Minutes,Town Council Joint Study Session 3