HomeMy WebLinkAbout2020/01/28-Minutes-Joint Meeting CC w/ Retirement Fund bd CITY OF FORT WORTH, TEXAS
JOINT CITY COUNCIL—FORT WORTH EMPLOYEES' RETIREMENT FUND
BOARD MEETING
JANUARY 28, 2020
Present:
Mayor Betsy Price
Mayor Pro tem Jungus Jordan, District 6
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 Dennis Shingleton, District 7
Council Member Kelly Allen Gray, District 8
Council Member Ann Zadeh, District 9
Fort Worth Employees' Retirement Fund Board Members Present:
Todd Cox, Chair, Place 2
Rick Van Houten, Vice Chair, Place 1
Loraine Coleman, Place 3
Andrea Wright, Place 4
Tom Lewis, Place 5
Kevin Foster, Place 6
Marsha Anderson, Place 7
Jesus Payan, Place 8
Jarod Cox, Place 9
Steve Litke, Place 10
Bryan Barrett, Place 11
Reginald Zeno, Place 13
Absent:
Jim Lacamp, Place 12
Staff Present:
David Cooke, City Manager
Sarah Fullenwider, City Attorney
Benita Harper, 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 of the Fort Worth
City Council and the Fort Worth Employees' Retirement Fund (ERF) Board to order at 2:05p.m.,
on Tuesday, January 28, 2020, 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
JANU ARY 28,2020
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IL 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. Presentation on the Investment Performance of the Fund
Mr. Jim Voytko, President and Director of Research, RVK, Inc. appeared before Council and
provided an overview of the Fund's performance for 2019. He also reviewed the Active/Passive
allocation and effective fees as of December 31, 2019. He also reviewed the 2020 work plan:
February Follow up on diversification structure review
March Growth/high growth structure study
April Asset allocation study and review
Review of SB 322 report
May Investment policy review
June Capital preservation structure study
IV. Discuss the Performance of the Fund and Determine How to Address the Unfunded
Liabilities, if any as Required by Section 5.11 of Article 6243i of the Texas Revised
Civil Statutes
Mr. Ryan Falls, Senior Consultant and Actuary, GRS Consulting gave an overview of where the
Fund is in regards to paying its liabilities and he discussed the unfunded liabilities. He noted that
there were significant and positive changes from last year.
V. Next Meeting—To be determined
The next meeting date is to be determined.
VI. Request for Future Agenda Items
Report back on result and impact of changes made in 2019.
VIL Adjourn
There being no further business, Mayor Price and Chairman Cox adjourned the joint meeting at
2:42p.m.
These minutes approved by the Fort Worth City Council on the Igth day of February, 2020.
Attest: Ap e
r
P
Mary J. K r ' etsy ce
City Secretary