Title
Appointment to the Pension Review Committee (B)
Explanation
Memo included at the request of the Finance Department
Date: May 27, 2021
To: Board of Trustees for the Gainesville General Employees’ Retirement Plan
Via: Cintya Ramos, Finance Director
From: Pension Review Committee
RE: Pension Review Committee Appointment - Patrick Keogh
The Pension Review Committee (PRC) is a citizen advisory committee that works with the City’s Pensions & Investments staff to make investment related recommendations for the General Employees’ Retirement Plan to the City Commission as the Board of Trustees for the General Employees’ Retirement Plan. Appointment to the PRC requires relevant investment management or advisory experience. There are currently two applicants for a vacancy on the City’s Pension Review Committee.
Staff has worked in cooperation with the Pension Review Committee to make PRC appointment recommendations to the Board of Trustees since the PRC’s establishment in 1983.
The original Pension Review Committee Resolution R-83-38 states that:
“Applicants to the Pension Review Committee shall have had successful investment experience and proven substantial advisory experience. The preliminary review of the applicants will be conducted by a screening sub-committee consisting of two members of the PRC. The Chairman or designee of the Pension Review Committee shall also be present during the screening review. Applicants will be interviewed by the screening sub-committee and will result in recommendations to the Board of Trustees. The Board of Trustees for the City’s Pension Fund shall appoint the Pension Review Committee.”
The Pension Review Committee screening sub-committee has reviewed the current PRC application from Patrick Keogh, and determined that Mr. Keogh’s background and experience qualify him for appointment to the PRC. At their May 27th, 2021 meeting, the Pension Review Committee approved a motion to have staff notify the Board of Trustees that t...
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