HomeMy WebLinkAbout02-05-2015 EMPLOYEE BENEFIT CITY OF CALDWELL
EMPLOYEE BENEFIT PLAN
TRUSTEE MEETING
HELD ON FEBRUARY 5,2015
The meeting was called to order at noon.
Those in attendance: Monica Jones, E1Jay Waite, Councilman Hopper, and Lois &
Jessica from Mercer
DISCUSSION ITEM(S):
• The Trust Audit Report was reviewed. As of September 30, 2014, the trust's net
position was $1,200,413, revenues were $2,967,862, and expenses were$2,409,877.
One major claim was reported. The trust has 50% of expected expenses in the
fund balance. Two (2) copies of the audit were sent to the Department of
Insurance.
MOVED by Hopper, SECONDED by Jones to accept the audit as presented.
• As of December 31, 2014, total assets were $1,445,704, totals liabilities were
$189,513, and the fund surplus was $1,256,191. This Financial Statement was
approved for submission to the Department of Insurance.
• Mercer presented and discussed the Experience Report for October 2014 through
December 2014.
• Discussion about the City's drug plan. Trustee's requested that Mercer run a
report/analysis of those prescriptions and specialty medicines being covered.
• It was agreed to fund the trust at the recommended two (2) years of aggregate
expenses.
• Fund 84 covers the following expenses: State mandated immunizations, BPA,
taxes, Hartwell (bonding), and the City's Wellness Incentive Program.
MOVED by Waite,SECONDED by Hopper to adjourn at 1:45 p.m. The next trustee
meeting is tentatively scheduled for April 23, 2015 at noon.
Those voting yes: Unanimous.
MOTION CARRIED