HomeMy WebLinkAbout2019/03/05-Minutes-Joint Meeting CC w/ Retirement Fund bd CITY OF FORT WORTH, TEXAS
JOINT CITY COUNCIL—FORT WORTH EMPLOYEES' RETIREMENT FUND
BOARD MEETING
MARCH 5,2019
Present•
Mayor Betsy Price
Mayor Pro to Dennis Shingleton, District 7
Council Member Carlos Flores, District 2
Council Member Brian Byrd, District 3
Council Member Cary Moon, District 4
Council Member Gyna Bivens, District 5
Council Member Jungus Jordan, District 6
Council Member Kelly Allen Gray, District 8
Council Member Ann Zadeh, District 9
Fort Worth Employees' Retirement Fund Board Members Present:
To Cox, Chair, Place 2
Rick Van Houten, Vice Chair, Place I
Loraine Coleman, Place 3
Andrea Wright, Place 4
To Lewis, Place 5
Kevin Foster, Place 6
Marsha Anderson, Place 7
Steve Litke, Place 10
Jim Lac amp, Place 12
Kevin B. Gunn, Place 13
Absent•
Jarod Cox, Place 9
Jesus Pay an, Place 8
Bryan Barrett, Place I I
Staff Present:
David Cooke, City Manager
Sarah Fullenwider, City Attorney
Joelle Mevi, Fund Executive Director
I. Call to Order—Mayor Betsy Price and Chairman Todd Cox
With a quorum present,Mayor Price and Chairman Cox called the Joint Meeting oft e Fort Worth
City Council and the Fort Worth Employees' Retirement Fund(ERF) Board to order at 2:09 p.m.,
on Tuesday, March 5, 2019, in the City Council Conference Room 290, 200 Texas Street, Fort
Worth, Texas.
CITY OF FORT WORTH, TEXAS
JOINT CITY COUNCIL—FORT WORTH EMPLOYEES'RETIREMENT FUND
MARCH 5,2019
Page 2 of 2
II. Welcome and Introductions—Mayor Betsy Price and Chairman Todd Cox
Mayor Price and Chairman Cox welcomed the members and audience to the meeting. Members of
both boards introduced themselves.
III. Actuarial Audit Results—Jennifer Turk, Gallagher Benefit Services
Ms. Jennifer Turk, Gallagher Benefit Services, presented the Actuarial Audit Results. The report
covers the five-year period from January 1, 2013 through December 21, 2017.
There was no action required on this item.
IV. Update on Investment Performance— Spencer Hunter, RVK, Inc.
Mr. Spencer Hunter, RVK, Inc., presented and update on investment performance. The report
compared the funds' performance to peer funds. The asset allocation and effective fees as of
December 21, 2018, were presented. The 2019 investment work plan will consist of reviews of
asset allocation, the real estate portfolio, the diversification portfolio, the private equity portfolio,
the investment policy and growth and high growth portfolio.
There was no action required on this item.
V. Next Meeting—To be determined
The next meeting date is to be determined.
VI. Request for Future Agenda Items
Chairman Todd Cox provided an update on the Retirement Fund's search for a Chief Investment
Officer. The Fund is working with a consultant on the process.
Council Member Moon—noted the importance of the Investment Policy review.
VII. Adiourn
There being no further business, Mayor Price and Chairman Cox adjourned the joint meeting at
3:07 p.m.
These minutes approved by the Fort Worth City Council on the 2nd day of April, 2019.
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