City of Alexandria, Virginia
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MEMORANDUM
DATE: JANUARY 7, 2015
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: MARK B. JINKS, ACTING city manager /s/
DOCKET TITLE:
TITLE
Consideration of Appointment of Representatives and Alternates to the City of Alexandria's Supplemental Retirement Board.
BODY
ISSUE: Appointment of General Schedule and Deputy Sheriff Representatives and Alternates to the Retirement Board ("Board") of the City of Alexandria's Supplemental Retirement Plan ("Plan").
RECOMMENDATIONS: That City Council appoint the following individuals to the City of Alexandria's Supplemental Retirement Plan Board:
· Shane Cochran as a General Schedule Representative;
· Lillian Vagnoni as a General Schedule Alternate;
· Robert Gilmore as a Deputy Sheriff Representative; and
· Valarie Wright as a Deputy Sheriff Alternate.
Assuming City Council appointment, the effective dates of these terms will be January 14, 2015 to December 31, 2018.
Discussion: In accordance with Plan rules, the Board held elections for four expiring terms at the December 3, 2014 meeting. The Board voted to re-appoint individuals to three of the four seats (Cochran, Gilmore, and Wright). The fourth seat, a General Schedule Alternate, was previously held by Bill Eger, who chose not to run for re-election. The Board elected Lillian Vagnoni to take over that seat for the upcoming term.
BACKGROUND: The Board was created on December 11, 2012 and includes General Schedule, Deputy Sheriff and Fire Marshal/Medic employees. The Board is comprised of eight members and five alternates who serve as the trustees of the Plan's trust and fiduciaries of the Plan and its assets. The Board acts for the City on matters concerning the Plan's assets, including selecting and monitoring investment funds and appointing investment managers, custodians, and advisors. The Board is also charged with consulting with City management to recommend modifications to the Plan. The Plan requires Board meetings to be held each quarter of the calendar year, but meetings are held more often.
City Council has the authority to appoint Board members. The Board members are either nominated by the City Manager or by the Board. The City Manager nominates four representatives and one alternate to represent City management. The Board nominates two representatives and two alternates to represent General Schedule employees, one representative and one alternate to represent the Deputy Sheriffs, and one representative and one alternate to represent the Fire Marshals and Medics. In the event that City Council does not appoint a representative or alternate nominated by the City Manager or the Board, the nomination process must be repeated until all Board member positions are filled. The chairman and the secretary are elected by the Board members.
Participant Representatives and Participant Alternates serve four-year terms, which are staggered so that members' terms overlap but are not concurrent.
Current Participant Representatives and Alternates for the Supplemental Retirement Board are as follows:
Participant Representatives and Alternates for General Schedule Employees:
Name Current Term
Marietta Robinson 12/11/2012 - 12/31/2016
Vacant Representative
Proposed - Shane Cochran Once appointed, term will end 12/31/2018
Brenda D'Sylva (Alternate) 12/11/2012 - 12/31/2016
Vacant Alternate
Proposed - Lillian Vagnoni Once appointed, term will end 12/31/2018
Participant Representatives and Alternates for Deputy Sheriffs:
Name Current Term
Vacant Representative
Proposed - Robert Gilmore Once appointed, term will end 12/31/2018
Vacant Alternate
Proposed - Valarie Wright Once appointed, term will end 12/31/2018
Participant Representatives and Alternates for Medics and Fire Marshals:
Name Current Term
Nancy McFadden 12/11/2012 - 12/31/2016
Young-Ju Kim 1/15/2014 - 12/31/2016
Management Representatives and the Management Alternate serve until they resign, are removed from the Board by City Council or end their employment with the City.
Current Management Representatives and Alternate for the Supplemental Retirement Board are as follows:
Name
Laura Triggs, Deputy City Manager
Nelsie Birch, Director, Office of Management & Budget
Vacant Management Representative (formerly Tom Gates, Deputy City Manager) *
Jean Kelleher, Director, Office of Human Rights
Jack Browand, Division Chief, RPCA
* Staff will bring forward a recommendation to fill this vacant slot at a subsequent City Council meeting
FISCAL IMPACT: None.
STAFF:
Laura Triggs, Deputy City Manager
Kendel Taylor, Acting Finance Director
Michael Stewart, Acting Deputy Finance Director
Kadira Coley, Acting Retirement Administrator