Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Administration And Personnel topic
No spam. Unsubscribe anytime.
Trust approves consent agenda, presents service award and ratifies executive director evaluation and compensation
Summary
The board approved the consent agenda, presented a four-year service award to Debbie Hamlin, heard Treasurer Jose Espinos report net assets of approximately $1.096 billion and net positive fiscal-year change of $35.1 million, and approved the executive director's annual evaluation and contract compensation in a roll-call vote.
The El Paso City Employees Retirement Trust board approved its consent agenda, presented a four-year service award to trustee Debbie Hamlin and received routine reports from the treasurer and executive director. Trustees later approved the executive director's annual performance evaluation and the contract compensation as outlined in his agreement.
Treasurer presenter Jose Espinos reported the trust held about $1.092 billion in cash and investments with $2.2 million in receivables and roughly $227,000 in liabilities, yielding net assets available for benefits of approximately $1.096 billion. Espinos said fiscal-year-to-date inflows included $38.7 million in employer and employee pension contributions (about $5.5 million per month on average) and $50.8 million in investment income; major outflows were $50.13 million in benefits paid, producing a net positive change of roughly $35.1 million year to date.
Executive Director Robert Ash summarized the annual financial summary report (a concise recap of the audit and interim actuarial valuation), noted annual benefit statements have been printed and are being distributed, and announced recruitment for a benefits-supervisor position as Mr. Garcia prepares to retire. Ash also noted the trust's Compass Points newsletter was distributed in English and Spanish and is well-received by participants and retirees.
During an executive session called under Texas Government Code 551.074 (personnel matters), trustees discussed the executive director's annual performance evaluation. On reconvening, the board moved to approve the evaluation and the payment of compensation as outlined in the executive director's contract. The roll-call polling recorded affirmative votes from Miss Valdez, Miss Pascala, Miss Hammond, Mr. Stutter, Mr. Rimas, Mr. P—na and Representative Ganales; the motion carried.
No members of the public spoke during the open-comment period. The meeting adjourned at 9:33 a.m.
