RETIREMENT COMMISSION MINUTES

The Retirement Commission met on Wednesday, December 1, 2021. The following members
were present: Ashley Marshall, Chris Cullinan, Joe Hatter, David Hughes, Jason Vandever, Scott
Hendrix, Heather Hill, Al Elias, Ben Cullop. Absent: Markell Henderson. Others present: Lachen
Parks, Sara Butler, Lisa Burch, Krisy Hammill, William Dowd, William Reid.

Call to Order
Jason Vandever called the meeting to order at 8:31 AM.

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

Actuarial Update
Bill Dowd and Bill Reid from SageView Consulting presented several scenarios showing how
different investment returns of the fund would affect the employer contribution rate and funding
status. This information was requested by the Commission at the last meeting.

Portability Discussion
Lisa Burch presented information about the portability feature of the Defined Benefit plan and
answered questions from the Commission members.

Investment Update
Jason provided investment results for the Retirement Fund through September 30, 2021 to the
Commission. He invited interested members to take part in a meeting with Greg McNeillie from
Dahab Associates on December 9, 2021.

New Business
It was noted that this is Heather Hill’s last Commission meeting. She was thanked for her many
contributions to the Commission.

Lisa Burch updated the Commission on the opening of City Hall. If City Hall is open in January,
the Commission will meet in person. She will notify members in January of the location of the
next meeting.

Adjournment
The meeting adjourned at 9:18 AM.