RETIREMENT BOARD MEETING AGENDA

Virtual Meeting – https://teams.microsoft.com/l/meetup-join/19%3ameeting_OGY3OGJkM2UtMTkwZS00MjVkLTg2YTYtOWU4OTRkMDBjOTMw%40thread.v2/0?context=%7b%22Tid%22%3a%2273ba5b04-4ace-4ae3-a6b2-65cbc403418b%22%2c%22Oid%22%3a%22247d3c9b-333b-4fe9-8f3a-66e37049b4a7%22%7d

 Thursday, November 19, 2020

6:00 p.m.

NOTICE: The meeting for which this agenda has been posted will be held pursuant to and in compliance with the Virginia Freedom of Information Act, Section 2.2-3708.2 and state and local legislation adopted to allow for continued government operation during the COVID-19 declared emergency.


All participating members of Retirement Board will be present at this meeting through electronic means. All members of the public may view the meeting via this Microsoft Teams Meeting Link:  https://teams.microsoft.com/l/meetup-join/19%3ameeting_OGY3OGJkM2UtMTkwZS00MjVkLTg2YTYtOWU4OTRkMDBjOTMw%40thread.v2/0?context=%7b%22Tid%22%3a%2273ba5b04-4ace-4ae3-a6b2-65cbc403418b%22%2c%22Oid%22%3a%22247d3c9b-333b-4fe9-8f3a-66e37049b4a7%22%7d

Public comment and questions may be submitted to mdecelle@fallschurchva.gov until 6:30pm on November 19, 2020.  All comments are provided, in full, to the members of the Retirement Board and comments received by the deadline will be summarized during the meeting.

PLEASE NOTE: This meeting will be conducted via MS Teams. If you do not already use MS Teams, you will be prompted to install it when clicking the meeting link, so please take some time ahead of the meeting to do so. If needed, there are short instructions to install the application following the meeting agenda. Please email cmester@fallschurchva.gov if you need assistance with installation. During the meeting, staff will likely not be available to assist with installation.




1.

Call to Order

2.

Introductions

(3 minutes) - informational
3.

Roll Call

4.

Petitions

(time as required)
5.

Review and Approval of Draft Minutes (3 minutes) -action

Draft minutes from the September 10, 2020 Meeting
7.

OPEB Funding Policy (10 minutes) -informational

8.

Third Quarter of 2020 Investment Performance Review for the Basic and Police Pension Plans and OPEB - Mary Nye of AndCo COnsulting (20 minutes) - informational

9.

December 14 Annual Report to Council (5 minutes) - informational

9.I.

Plan Administrator Selection

10.

2020/2021 Training Plan (5 minutes)

10.I.

IFEBP 66th Annual Conference - informational

Info on the current IFEBP conference.
10.II.

AndCo Real Estate Basics Training Report - informational

10.III.

Travel Expense per attendee limit discussion (Trustee request)

11.

2021 Meeting Calendar/Confirm Proposed Dates (5 minutes) - action

  • Thursday, February 11, 2021
  • Thursday, May 13, 2021
  • Thursday, September 09, 2021
  • Thursday, November 18, 2021 (November 11 is Veteran’s Day)
12.

Investment Policy Statements and Plan Amendment: Demographic and Economic Valuation Assumptions (5 minutes) - action

13.

Plan Amendment: Legal General Pension Plan Clarifications (5 minutes) - action

14.

Plan Amendment: Retiree Rehire Policy (20 minutes) - action

a. Legal fee amount and allocation discussion
b. Process improvements
14.I.

DRAFT_Proposed Amendment_PLAN DOCUMENT_BASIC Pension Plan_Nov 2020

15.

Administrative Fee Methodology Discussion (20 minutes) - action requested

16.

Plan Administrator's Report - Cindy Mester (15 Minutes) - informational

16.I.

Administrative Quarterly Report - beneficiaries, training and administrative expenses

16.I.i.
16.I.ii.

Record Keeping RFP timeline, process, Trustee representative

16.I.iii.

Compliance Review

16.II.

Retirement Purchase of Service In-house Tool - [hold]

16.III.

Insurance Coverage renewal and premium costs - [hold]

17.

Public Participation protocol [hold for possible in-person Feb 2021 discussion]

18.

Other business not on the agenda

 (3 minutes)
19.

Adjournment

Next Meeting scheduled for Thursday, February 11, 2021 (Location: COVID-19 emergency virtual or in-person Dogwood A&B)

Instructions for joining a Microsoft Teams meeting:

Click here to watch a video with instructions for joining a Teams meeting

 

Join a Teams meeting on a phone or tablet

  1. Click the meeting link provided.
  2. Download the Teams app for your device when prompted:
  • Type in your name.
  • Choose the audio and video settings you want.
  1. Select Join now.
  2. Depending on meeting settings, you'll get in right away, or go to a lobby where someone in the meeting can admit you.

 

Join a Teams meeting on the web or through a web browser on a phone or tablet

Don't have the Teams app? You can still join a Teams meeting.

  1. Click or copy and paste the meeting link provided.
  2. You have two choices:
    • Download the Windows app: Download the Teams app.
    • Join on the web instead: Join a Teams meeting on the web.
  3. Type in your name.
  4. Choose the audio and video settings you want.
  5. Select Join now.
  6. Depending on meeting settings, you'll get in right away, or go to a lobby where someone in the meeting can admit you.