City of Alexandria, Virginia
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MEMORANDUM
DATE: MARCH 18, 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 Alternates to the City of Alexandria's Supplemental Retirement Board.
BODY
ISSUE: Appointment of Medic/Fire Marshal Alternate to the Retirement Board ("Board") of the City of Alexandria's Supplemental Retirement Plan ("Plan").
RECOMMENDATIONS: That City Council appoint the following individual to the City of Alexandria's Supplemental Retirement Plan Board:
* Charles Curia as a Medic/Fire Marshal Alternate
DISCUSSION: In accordance with Plan rules, the Board held elections for the newly vacated Medic/Fire Marshal Alternate position at the February 12, 2014 meeting. The seat was previously held by Young-Ju Kim, who chose resign from the Board due to competing work priorities. The Board elected Charles Curia to take over the newly vacated seat for the remainder of the 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 nomina...
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