HomeMy WebLinkAbout2024/05/14-Minutes-Joint Meeting CC w/ Retirement Fund bdCITY OF FORT WORTH, TEXAS
JOINT FORT WORTH CITY COUNCIL / FORT WORTH EMPLOYEES'
RETIREMENT FUND BOARD MEETING
MAY 14, 2024
Present:
Mayor Mattie Parker
Mayor Pro tem Gyna Bivens, District 5
Council Member Carlos Flores, District 2
Council Member Michael D. Crain, District 3
Council Member Charles Lauersdorf, District 4 (Remote)
Council Member Jared Williams, District 6
Council Member Macy Hill, District 7
Council Member Chris Nettles, District 8
Council Member Elizabeth Beck, District 9
Council Member Alan Blaylock, District 10
Council Member Jeanette Martinez, District 11
Fort Worth Employees' Retirement Fund Board Members Present:
Doug Wilson, Chair, Place 9
Andrea Wright, Vice Chair, Place 4
Lloyd Cook, Place 1 (Absent)
Stephen Stegint, Place 2
Loraine Coleman, Place 3
Landon Stallings, Place 5 (Absent)
Kevin Foster, Place 6
Kara Shuror, Place 7
Jesus Payan, Place 8
Steve Purvis, Place 11
Jim Lacamp, Place 12 (Absent)
Reginald Zeno, Place 13
Place 10 (Vacant)
Staff Present:
David Cooke, City Manager
Leann Guzman, City Attorney
Jannette S. Goodall, City Secretary
CITY OF FORT WORTH, TEXAS
JOINT CITY COUNCIL — FORT WORTH EMPLOYEES' RETIREMENT FUND
MAY 14, 2024
Page 2 of 3
I. Call to Order — Mayor Mattie Parker and Chairman Doug Wilson
With a quorum present, Mayor Parker and Chairman Wilson called the Joint Meeting
of the Fort Worth City Council and the Fort Worth Employees' Retirement Fund
(ERF) Board to order at 2:10 p.m., on Tuesday, May 14, 2024, in the City Council
Conference Room 2020, 200 Texas Street, Fort Worth, Texas.
II. Welcome and Introductions — Mayor Mattie Parker and Chairman Doug
Wilson
Mayor Parker welcomed everyone and Chairman Wilson introduced Linda Webb,
Executive Director of the Employees' Retirement Fund.
III. Actuarial Valuation as of December 31, 2023 —Joseph P. Newton, Pension
Market Leader and Actuary, and Bill Detweiler, Consultant, Roeder,
Smith & Company (GRS)
Presentation was given by Joseph P. Newton, Pension Market Leader and Actuary.
IV. Presentation on the Investment Performance of the Fund — Chief
Investment Officer Derrick Dagnan, Fort Worth Employees' Retirement
Fund (Fund)
Presentation was given by Derrick Dagnan, Chief Investment Officer.
Council Member Flores requested an estimate on the impact from incorporating the
employees from MedStar will have on the Fund.
V. 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 — Mayor Mattie Parker and Chairman
Doug Wilson
Linda Webb addressed Council regarding the future discussions on methods
continue to reduce the unfunded balance.
Mayor Parker recommended that discussions on increasing the City's contribution
percent would need to be addressed as a budget discussion.
CITY OF FORT WORTH, TEXAS
JOINT CITY COUNCIL — FORT WORTH EMPLOYEES' RETIREMENT FUND
MAY 14, 2024
Page 3 of 3
Council Member Martinez inquired on why the Human Resources Director was not
a member of the Board.
VI. Next Meeting
The next meeting is to be determined.
VII. Request for Future Agenda Items
There were no requests for Future Agenda Items.
VIII.Adjourn
There being no further business, Mayor Parker and Chairman Wilson adjourned the
joint meeting at 2:57 p.m.
These minutes were approved by the Fort Worth City Court on the 4`° day of June, 2024.
A t st: Ap v
Ronald P. Gonzales Mattie karker
Assistant City Secretary Mayor