RETIREMENT COMMISSION MINUTES

The Retirement Commission met on Wednesday, June 23, 2021. The following members were
present: Ben Cullop, Chris Cullinan, Al Elias, Joe Hatter, Markell Henderson, David Hughes, Jason
Vandever, Scott Hendrix, Heather Hill. Absent: Chip Boyles. Others present: Sara Butler, Lisa
Burch, Krisy Hammill, Allyson Davies, Lachen Parks.

Call to Order
Jason Vandever called the meeting to order at 8:32 AM.

Approval of Minutes
The minutes from the May 2021 meeting were approved unanimously.

Term Lengths of Commission Members
Heather Hill and Allyson Davies addressed the Commission regarding changing the length of the
terms for Retirement Commission members. The recommendation is for all appointed members to
serve up to 4 terms of 2 years each. They also proposed that any current member would be given the
option to extend their time to the full eight years. Finally, they proposed that the terms transition so
that annual appointments take place in June each year and that the appointments are staggered so that
all members do not rotate off at once. A motion was made to pass on these recommendations to
Council for approval. The motion was approved unanimously. Allyson Davies and Lisa Burch will
coordinate with the Clerk of Council to get this matter on the Council agenda.

Financial Update
Jason Vandever gave the Commission an update on the rebalancing of $4 million of Retirement Fund
assets.

New Business
Heather Hill noted that the Commission will most likely resume in person meetings after Labor Day.
No other new business was discussed.

Adjournment
The meeting adjourned at 8:47 AM.