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PUBLIC EMPLOYEES' RETIREMENT BOARD
BOARD MEETING AND BOARD GOVERNANCE SEMINAR MINUTES FOR
Tuesday, November 16, 2004 and Wednesday, November 17, 2004
The agenda for this meeting was mailed to every public employer, the news media, and
other groups and individuals as requested.
The Board meeting of the Public Employees' Retirement Board was called to order by Board
Chairman Mark Balen at 1:00 p.m., November 16, 2004, in the PERS' Board Room, 693 West Nye
Lane, Carson City. Members present: Mark Balen, Sue DeFrancesco, Purisimo Hernandez, David
Kallas, Charles Silvestri, George Stevens, and Warren Wish.
DISABILITIES
On motion of David Kallas, the Board voted unanimously of those present to:
Approve permanent and total disability retirement for: Debera Allen, Billie Jo
Anderson, Billie Barker, Cindy Fairchild, Craig Gifford, Sheri Lynn Gregory,
Robert Haynes, Sally Henning, Larry Hickman, Deborah Jackson, Michael Joseph,
Lawrence Larsen, Sandra Lessman, Eileen Mapp, Guillermo Martinez, Lana McGaffin,
Kelley Oakley, Beverly Perby, Sheri Rasche, Veronica Richardson, Willie Richardson,
Timothy Schaefer, Robert Sherrod, Patrick Tanner, Riley Williams, Tyrone Young.
Approval of reemployment requests by disability recipients: Stephan Burke, Susan
Chandler, Sherry Freer, Susan Gerhardt, Linda Giese, John Howard, Christine Matich,
Anna Morgan, Robert Thompson, Lola Trdla.
Sue DeFrancesco abstained from voting on Timothy Schaefer's disability retirement.
David Kallas abstained from voting on Susan Gerhardt's reemployment request. Warren
Wish was not present for this vote.
- INVESTMENTS
Staff and Callan Associates presented the First Quarter Fiscal Year 2005 Performance
Review for the PERS', Legislators' and Judicial Funds.
On motion of Charles Silvestri the Board voted unanimously of those present to approve
the Interim Investment Directives, PERS', Legislators', and Judicial funds, as
submitted.
- BOARD
On motion of George Stevens the Board voted unanimously to approve the Minutes of the
Retirement Board meeting held October 20 and 21, 2004, as submitted.
There were no changes to the Retirement Board meeting dates.
There were no changes to the Retirement Board Education Curriculum calendar.
- ADMINISTRATION
On motion of Charles Silvestri the Board voted unanimously to accept the Fiscal Year
2004 Actuarial Valuation Report as submitted by the independent actuary.
- LEGISLATION
On motion of Warren Wish the Board voted unanimously to seek no fiscal legislation
at the 2005 session.
There were no updates on the Bill Draft Request List for the 2005 Legislative Session.
There were no legislative matters that developed after publication of the agenda.
- RATIFICATION AGENDA
On motion of David Kallas, the Board voted unanimously to approve the Ratification Agenda as
follows:
Approval of Administrative Fund disbursements.
Approval of personnel action.
Approval of out-of-state travel for Charles Silvestri to attend the Public Fund
Boards Forum, December 5 - 8, 2004, in San Francisco, California, at no cost to the
System.
Retroactive approval of Sierra Crest Academy's request for membership in PERS,
effective July 26, 2004.
Approval of Survivor Benefit reinstatement for Anna Figiel.
Approval of contract assignment with SSR Realty Advisors.
Retroactive approval of Investment Management Agreement and Investment Performance
Guidelines with Voyageur Asset Management.
Approval of Benefit Payment Audit for October ending September 30, 2004.
Approval of Final Benefit Audit for August 2003.
Approval of out-of-state travel for the Chief Accountant to attend the national GFOA
Conference in San Antonio, Texas on June 26 - 29, 2005.
Approval of independent contract with the Nevada State Printing Office to print the
Comprehensive Annual Financial Report (CAFR) for Fiscal Year 2004 for an amount not
to exceed $6,000.
- DENIALS
Warren Wish requested Mr. Booth and Mr. Sperle's requests be placed on a future agenda to be
heard as official appeals.
- REPORTS
- COMMENTS
Public Comment
Mr. Ronnie Booth and Mr. Charles Sperle requested the Board review their staff
denials for requests for recalculation of their monthly average compensations
to include holiday pay, stating extenuating circumstances existed when Reno
Fire Dept. and Truckee Meadows Fire Dept. were consolidated.
The Deputy Attorney General had nothing to report.
Administrative report by Staff.
Executive Officer:
The Executive Officer informed the Board that the Interim Retirement and
Benefits Committee meeting scheduled for November 18, 2004 has been
rescheduled for January 13, 2005.
The Executive Officer informed the Board that the 2005 NASRA Conference will
be held August 5 - 10, 2005. If any Board Members are interested in attended
they are asked to contact staff to make arrangements.
Questions and/or comments by members of the Retirement Board.
David Kallas
Mr. Kallas requested information regarding Directed Brokerage/Commission
Recapture be placed on a future agenda.
- RECESS
NOVEMBER 17, 2004
BOARD MEETING AGENDA
BOARD
Dr. Jon Por, President, Cortex, presented a Board Governance Workshop to the
Retirement Board and Executive Staff. Staff will draft a list of policies and
develop a policy format for Board review at the December, 2004 Board meeting.
There was no action taken on Board Governance Policies.
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