Employees Retirement System Board of Trustees

The Employees Retirement System of the City of St. Louis has announced a special election to fill one member-representative Trustee vacancy on the Board of Trustees for the unexpired term ending March 31, 2019. This vacancy is due to the untimely death of Trustee Rose Milina Neyland. The election will commence on August 10, 2018 and end on August 27, 2018.

Any member may file as a candidate for election to the Board of Trustees by appearing in person at the Office of the Secretary, signing the "Request for Candidacy" and the "Release of Liability" and paying a fee of $50.00 by certified or cashier's check or money order, payable to Employees Retirement System, refundable only if said candidate receives 400 or more votes. No personal checks or cash will be accepted. At the time of filing the candidate shall submit in writing a brief summary of information regarding the candidate's background and qualifications, such summary shall not exceed three hundred (300) words. The last day for filing will be at 5:00 p.m., Friday, July 13, 2018.

The Office of the Secretary is located at 1114 Market Street, Suite 900, and is open from 8:00 a.m. to 5:00 p.m., Monday through Friday. An outline of the obligations and expectations of members of the Board of Trustees can be found below.

Following the close of the fling period, candidates shall be supplied with the names and department/pay location of all members, and the election rules and regulations. No other existence shall be provided by the Board, the Secretary, or the Secretary's Office to the candidates in their campaign activities.

The Board of Trustees has set August 27, 2018 as the election date.  Official election ballots along with voting procedures will be mailed to the address of record of each member on August 10, 2018.

OBLIGATIONS AND EXPECTATIONS OF MEMBERS OF THE BOARD OF TRUSTEES OF THE EMPLOYEES RETIREMENT SYSTEM OF THE CITY OF ST. LOUIS

• Attendance at 12 regular monthly meetings and any special meetings of the Board of Trustees;
• Annually complete at least six hours of educational programs pertaining to certain retirement system topics (by law a new trustee must attend an education conference covering certain topics within 90 days of becoming a trustee);
• Exercise fiduciary obligations in administering the plan in accordance with industry-wide best practices and all applicable laws, rules, regulations;
• Exercise investment fiduciary obligations while investing plan assets;
• Exercise due diligence in selecting and monitoring System service providers, including but not limited to, money managers and investment consultant(s);
• Maintenance of qualified status determination from IRS;
• Approve benefit payments to retirees and beneficiaries, in accordance with all applicable laws, rules and regulations; and
• Establish employer contribution rates with the assistance of the System's actuary.

 

RISKS ASSOCIATED WITH BEING A TRUSTEE

• Potential for lawsuits
• Exposure of personal assets
• Time expended as a trustee is not compensable

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