City of Alexandria, Virginia
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MEMORANDUM
DATE: JANUARY 8, 2014
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: RASHAD M. YOUNG, CITY MANAGER /s/
DOCKET TITLE:
TITLE
Consideration of Appointment of a Medic/Fire Marshal Alternate to the City of Alexandria Supplemental Retirement Board.
BODY
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ISSUE: Appointment of a Participant Alternate to the Retirement Board ("Board") of the City of Alexandria's Supplemental Retirement Plan ("Plan").
RECOMMENDATION: That City Council appoint Mr. Young-Ju Kim, Medic II, to the City of Alexandria's Supplemental Retirement Board as the Fire Marshall/Medic Alternate. Mr. Kim's term will begin January 15, 2014 and expire December 31, 2016.
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
Shane Cochran 12/11/2012 - 12/31/2014
Marietta Robinson 12/11/2012 - 12/31/2016
Brenda D'Sylva (Alternate) 12/11/2012 - 12/31/2016
Bill Eger (Alternate) 01/01/2013 - 12/31/2014
Participant Representatives and Alternates for Deputy Sheriffs:
Name Current Term
Robert Gilmore * 12/11/2012 - 12/31/2014
Valarie Wright (Alternate) 11/13/2013 - 12/31/2014
Participant Representatives and Alternates for Medics and Fire Marshals:
Name Current Term
Nancy McFadden 12/11/2012 - 12/31/2016
Vacant (Alternate)
Proposed - Young-Ju Kim Once appointed term will end 12/31/2016.
* Mr. Robert Gilmore served as the Deputy Sheriff's Participant Alternate from 12/11/2012 through 11/12/2013. He was appointed the Deputy Sheriff's Participant Representative on 11/13/2013.
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
Tom Gates, Deputy City Manager/Chief of Staff
Morgan Routt, Assistant Director, Office of Management & Budget
Nelsie Smith, Director, Office of Management & Budget
Laura Triggs, CFO, Finance Director and Plan Administrator
Jean Kelleher, Director, Office of Human Rights (Alternate)
DISCUSSION: The Fire Marshal/Medic Alternate was not appointed when the Board was created in 2012. Mr. Kim is being recommended by the Supplemental Board trustees to fill this vacancy. Staff requests that City Council appoint Mr. Young-Ju Kim to the Board effective January 15, 2014.
FISCAL IMPACT: None.
ATTACHMENTS:
None.
STAFF:
Laura Triggs, Chief Financial Officer/Director of Finance
Tom Gates, Deputy City Manager/Chief of Staff
Steven Bland, Retirement Administrator