General Employee's Retirement Committee (GERP -- AKA Retirement Committee)#
Due to COVID-19, Boards and Commissions are allowed and encouraged to hold meetings remotely via ZOOM. Please see the posted agenda for meeting details.
2nd Thursday of each month at 11 a.m.[Meeting Location] | View meeting schedule
Meeting Location is at 215 N. Mason, 2nd Floor Meeting Room 2A (Please confirm meeting location based on the posted agenda).
Manage/administer the Retirement Plan for members and retirees, manage accumulated Retirement Fund money, determine the eligibility/credited service of members under Plan rules, interpret the Plan's provisions and coordinate with other City boards and commissions regarding energy issues.
Authorizes payment of retirement benefits and bills for expenses of the Plan and Committee.
The committee sets the policies and procedures for these responsibilities and directs staff personnel and actuarial consulting firm to carry out the functions.
The Committee also:
Seeks information and advice to benefit the Plan and members, recommends Plan changes; enhancements of provisions and benefits to City Council for approval. Keeps abreast of legislation that could affect the Plan, and informs Plan's members of their current/projected benefits. Educates Committee's and Plan's members and encourages Plan members to accumulate other sources of retirement income. Provides minutes of each meeting and files documents as required.
Qualifications: Sound judgment and the ability to understand and evaluate the General Employees Retirement Plan and factors which impact the Plan.
The Committee is composed of a finance staff member and a mix of five (5) active, terminated-vested, or retired members of the plan when one (1) taxpaying elector of the City does not apply.