FINANCE & PERSONNEL COMMITTEE
Regular MeetingMilwaukee, WI · October 9, 2019
Minutes
City Hall
City of Milwaukee 200 East Wells Street
Milwaukee, WI 53202
Meeting Minutes
FINANCE & PERSONNEL COMMITTEE
ALD. MILELE A. COGGS, CHAIR
Ald. Chantia Lewis, Vice-Chair
Ald. Michael J. Murphy, Ald. Russell W. Stamper, II, and Ald.
Jose G. Perez
Staff Assistant, Chris Lee, 286-2232; Fax: 286-3456,
clee@milwaukee.gov
Legislative Liaison, Dana Zelazny, 286-8679,
dana.zelazny@milwaukee.gov
Wednesday, October 9, 2019 1:30 PM Room 301-B, Third Floor, City Hall
2020 BUDGET HEARINGS
Meeting convened at 1:46 p.m.
Present 5 - Coggs, Lewis, Murphy, Stamper, Perez
Individuals also present:
Martin Matson, Comptroller
Dennis Yaccarino, Budget Director
Dana Zelazny, Legislative Reference Bureau
Rocky Wruck, Comptroller Office
1. 190001 Communication from the Mayor relating to the proposed 2020 budget.
Sponsors: THE CHAIR
- Employes' Retirement System
Individuals appearing:
Molly King-Christianson, Budget Office
Jerry Allen, Employes' Retirement System
Larry Langer, CMC
Patrice Beckham, CMC
Ald. Nik Kovac, 3rd Aldermanic District
Ms. King-Christianson gave an Employes' Retirement System PowerPoint presentation
on the following:
Budget Data, Pension Fund Status January 1, 2019, Changes to 2019 Plan Reset,
2020 Pension Contribution, Employer Pension Contributions Trends 1996-2020
Projection, Fund Value of Assets: 2007 - June 30, 2019, Employer Contributions
Director Allen, Mr. Langer, and Ms. Beckham gave an additional PowerPoint
presentation on the following:
General Pension Statistics, CMERS Investment Performance History Periods Ending
August 31, 2019, Investment Performance Compared to Public Fund Peers Periods
City of Milwaukee Page 1
FINANCE & PERSONNEL Meeting Minutes October 9, 2019
COMMITTEE
Ending June 30, 2019, ERS 20 Year Rolling Ave. Investment Returns 1978-2018,
Rolling Fund Returns 1979-2018, Active Management vs. Passive Analysis 24-Years,
Change in Public Pension Fund Expected Return on Investment 2001-2018, Alternative
Mixes: 30-Year Return Expectations, Funded Ratio, Stable Contribution Policy,
Employer Contributions (Combined Fund only as of January 1, 2019), 2019 COM
Employer Contribution, Projections, Fund Value of Assets: 2007 - September 30, 2019
(Preliminary)
This Communication was NOT ACTED ON
- Mayor's Office
This item was taken out of order and considered first.
Individuals appearing:
Paul Vornholt, Mayor's Office
Thomas Bell, Budget Office
Jodi Tabak, Mayor's Office
Mr. Bell gave a Mayor's Office Overview PowerPoint presentation on the following:
Budget Summary, Major Budget Changes
This Communication was NOT ACTED ON
- Municipal Court
Individuals appearing:
Thomas Bell, Budget Office
Sheldyn Himle, Municipal Court
Judge Derek Mosley, Municipal Court
Annie McGinnity Kubes, Milwaukee Public Schools
Mr. Bell gave a Municipal Court Overview PowerPoint presentation on the following:
Community Goals and Objectives, Performance Measures, 2020 Budget Summary,
Special Purpose Accounts, Revenues, Municipal Court Cases & Revenue, Budget
Changes
This Communication was NOT ACTED ON
- Deferred Compensation
Individuals appearing:
Beth Conradson-Cleary, Deferred Compensation
Nicholas Sinram, Budget Office
Thomas Bell, Budget Office
Mr. Sinram and Director Conradson-Cleary gave a Deferred Compensation Overview
PowerPoint presentation on the following:
Mission Statement, Objectives & Strategies of the DCP, 2019 Budget Summary,
Deferred Compensation Plan Assets in Millions, Deferred Compensation Plan
Participants, Summary Plan Data, Recent Accomplishments, Financial Wellness
Seminars, Recipient of 2019 National Leadership Award, Review of Plan Design
Changes, Measuring Results: Gender Analysis, Race Analysis, Asset Allocation
Impact, 2020 Plan Goals
This Communication was NOT ACTED ON
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FINANCE & PERSONNEL Meeting Minutes October 9, 2019
COMMITTEE
A motion was made by ALD. PEREZ that this Communication be HELD TO CALL
OF THE CHAIR. This motion PREVAILED by the following vote:
Aye 5- Coggs, Lewis, Murphy, Stamper and Perez
No 0
Meeting adjourned at 4:56 p.m.
Chris Lee, Staff Assistant
Council Records Section
City Clerk's Office
This meeting can be viewed in its entirety through the City's Legislative Research Center at
http://milwaukee.legistar.com/calendar.
City of Milwaukee Page 3
Agenda
City Hall
City of Milwaukee 200 East Wells Street
Milwaukee, WI 53202
Meeting Agenda
FINANCE & PERSONNEL COMMITTEE
ALD. MILELE A. COGGS, CHAIR
Ald. Chantia Lewis, Vice-Chair
Ald. Michael J. Murphy, Ald. Russell W. Stamper, II, and Ald.
Jose G. Perez
Staff Assistant, Chris Lee, 286-2232; Fax: 286-3456,
clee@milwaukee.gov
Legislative Liaison, Dana Zelazny, 286-8679,
dana.zelazny@milwaukee.gov
Wednesday, October 9, 2019 1:30 PM Room 301-B, Third Floor, City Hall
2020 BUDGET HEARINGS
1. 190001 Communication from the Mayor relating to the proposed 2020 budget.
Sponsors: THE CHAIR
-Employee Retirement System
-Mayor’s Office
-Municipal Court
-Deferred Compensation
This meeting will be webcast live at www.milwaukee.gov/channel25.
In the event that Common Council members who are not members of this committee attend this
meeting, this meeting may also simultaneously constitute a meeting of the Common Council or any
of the following committees: Community and Economic Development, Finance and Personnel,
Judiciary and Legislation, Licenses, Public Safety and Health, Public Works, Zoning, Neighborhoods
& Development, and/or Steering and Rules. Whether a simultaneous meeting is occurring depends
on whether the presence of one or more of the Common Council member results in a quorum of the
Common Council or any of the above committees, and, if there is a quorum of another committee,
whether any agenda items listed above involve matters within that committee’s realm of authority.
In the event that a simultaneous meeting is occurring, no action other than information gathering will
be taken at the simultaneous meeting.
Times for specific agenda items are estimations. If items cannot be heard at their specified times,
they will be heard as soon as practicable thereafter.
Upon reasonable notice, efforts will be made to accommodate the needs of persons with disabilities
through sign language interpreters or auxiliary aids. For assistance contact the Legislative Services
ADA Coordinator at 286-2998, (FAX)286-3456, (TDD)286-2025 or by writing to Room 205, City
Hall, 200 E. Wells Street, Milwaukee, WI 53202.
City of Milwaukee Page 1 Printed on 10/9/2019
FINANCE & PERSONNEL Meeting Agenda October 9, 2019
COMMITTEE
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Milwaukee Center (southwest corner of E. Kilbourn Ave. and N. Water St.) Parking tickets must be
validated in the first floor Information Booth in City Hall.
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City of Milwaukee Page 2 Printed on 10/9/2019