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AGENDA
Firefighters' Pension Board Meeting
1:00 PM - Thursday, July 21, 2022
Room 720, 7th Floor, City Hall – 1055 S. Grady Way
This meeting is being offered as a hybrid in-person/virtual meeting. The physical location is
the Council Conference Room, Rm 720, Seventh Floor, Renton City Hall, 1055 S Grady Way,
Renton 98057. Or join virtually by clicking the following link:
Join Zoom Meeting
https://us02web.zoom.us/j/84727357526?pwd=bHdJVm9NeHVlT2dsQ3RETEF0cTJZdz09
Meeting ID: 847 2735 7526 Passcode: 711179
1. CALL TO ORDER
2. APPROVAL OF MINUTES
a) May 17, 2022
3. CORRESPONDENCE
4. MONTHLY STATEMENTS
a) April 2022
b) May 2022
c) June 2022
5. MONTHLY BILLS AND PENSION PAYMENTS
a) June 2022
b) July 2022
6. UNFINISHED BUSINESS
7. NEW BUSINESS
8. ADJOURNMENT
MINUTES
FIREFIGHTERS’ PENSION BOARD
CITY OF RENTON
May 17, 2022
________________________________________________________________________
Armondo Pavone, Mayor
Valerie O’Halloran, Finance Committee Chair
Jason Seth, City Clerk
Ray Barilleaux, Fire Department Representative
Kari Roller, Finance Administrator
Sean Hollingsworth, Finance Representative
________________________________________________________________________
The regular meeting of the Firefighters’ Pension Board was called to order by City Clerk Jason
Seth, at 4:04 p.m. via videoconference. In attendance were Armondo Pavone, Mayor; Valerie
O’Halloran, Finance Committee Chair, City Clerk Jason Seth; and Fire Department Representative
Ray Barilleaux. Additionally, Kari Roller, Finance Administrator and Sean Hollingsworth, Finance
Department Representative, were in attendance.
MINUTES APPROVAL
MOVED BY PAVONE, SECONDED BY BARILLEAUX, THE PENSION BOARD APPROVE THE MINUTES
OF THE MARCH 17, 2022 MEETING. CARRIED.
MONTHLY STATEMENT
The February 2022, March 2022, and draft April 2022 financial reports were reviewed. Total
cash/investment balance was, as of April 30, 2022, $8,333,176.29.
MONTHLY BILLS AND PENSION PAYMENTS
MOVED BY O’HALLORAN, SECONDED BY PAVONE, THE BOARD APPROVE THE PENSION/MEDICAL
PAYMENTS OF $16,177.34 FOR APRIL 2022, AND $16,177.34 FOR MAY 2022, TO BE PAID BY THE
FIREFIGHTERS’ PENSION FUND. CARRIED.
NEW BUSINESS
Sean Hollingsworth, Finance Department representative, provided an overview of the
Firefighters’ Pension Fund and its history.
ADJOURNMENT
City Clerk Seth adjourned the meeting at 4:25 p.m.
Jason Seth, MMC
City Clerk/Public Records Officer
Secretary, Firefighters’ Pension Board
AGENDA ITEM #2. a)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF APRIL 30, 2022
Firefighter's Pension Fund Comparison of Cash and Investment Activity
CURRENT 2022 2022 LAST YEAR 2021 2021
ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET
BEGINNING CASH/INV BALANCE 8,314,587.00 8,371,183.05 8,082,836.54 7,858,236.62 7,908,311.54 7,908,312.00
RECEIPTS:
Fire Insurance Premium Tax 0.00 0.00 165,000.00 0.00 171,853.42 160,000.00
Investment Interest 2,735.36 8,618.63 125,000.00 1,812.26 530,397.79 225,000.00
DISBURSEMENTS:
Fire Pension 16,117.34 78,596.66 200,000.00 17,956.51 227,254.70 200,000.00
Fire Pension Medical 0.00 0.00 0.00 0.00 0.00 0.00
Office/Operating Supplies 0.00 0.00 475.00 0.00 0.00 475.00
Actuarial/Firemen's Pens 0.00 0.00 0.00 0.00 12,125.00 10,000.00
ENDING CASH/INV BALANCE $8,301,205.02 $8,301,205.02 $8,172,362 $7,842,092.37 $8,371,183.05 $8,082,837
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $7,693,202.98 $7,708,135.42 $7,036,389.64 $7,054,058.94
INVESTMENTS:
Federal National Mortgage Assn 0.00 0.00 99,555.84 99,555.84
Treasury Strips & Zero Coupon Bonds 600,333.41 600,333.41 698,844.16 698,844.16
Interest Receivable 7,668.63 6,118.17 7,302.73 5,777.68
TOTAL CASH AND INVESTMENTS $8,301,205.02 $8,314,587.00 $7,842,092.37 $7,858,236.62
The State Investment Pool interest 0.4048% 0.2253% 0.1020% 0.1139%
5.00
5.50
6.00
6.50
7.00
7.50
8.00
8.50
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillions of Dollars2022 2021
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\Apr 22 Page 1 7/18/2022
AGENDA ITEM #4. a)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF MAY 31, 2022
Firefighter's Pension Fund Comparison of Cash and Investment Activity
CURRENT 2022 2022 LAST YEAR 2021 2021
ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET
BEGINNING CASH/INV BALANCE 8,301,205.02 8,371,183.05 8,082,836.54 7,842,092.37 7,908,311.54 7,908,312.00
RECEIPTS:
Fire Insurance Premium Tax 182,840.98 182,840.98 165,000.00 138,502.15 171,853.42 160,000.00
Investment Interest 3,625.04 12,243.67 125,000.00 170,107.87 530,397.79 225,000.00
DISBURSEMENTS:
Fire Pension 16,117.34 94,714.00 200,000.00 18,156.51 227,254.70 200,000.00
Fire Pension Medical 0.00 0.00 0.00 0.00 0.00 0.00
Office/Operating Supplies 0.00 0.00 475.00 0.00 0.00 475.00
Actuarial/Firemen's Pens 3,500.00 3,500.00 0.00 0.00 12,125.00 10,000.00
ENDING CASH/INV BALANCE $8,468,053.70 $8,468,053.70 $8,172,362 $8,132,545.88 $8,371,183.05 $8,082,837
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $7,859,906.10 $7,693,202.98 $7,425,893.05 $7,036,389.64
INVESTMENTS:
Federal National Mortgage Assn 0.00 0.00 0.00 99,555.84
Treasury Strips & Zero Coupon Bonds 600,333.41 600,333.41 698,844.16 698,844.16
Interest Receivable 7,814.19 7,668.63 7,808.67 7,302.73
TOTAL CASH AND INVESTMENTS $8,468,053.70 $8,301,205.02 $8,132,545.88 $7,842,092.37
The State Investment Pool interest 0.7044% 0.4048% 0.0764% 0.1020%
5.00
5.50
6.00
6.50
7.00
7.50
8.00
8.50
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillions of Dollars2022 2021
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\May 22 Page 1 7/18/2022
AGENDA ITEM #4. b)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF JUNE 30, 2022
Firefighter's Pension Fund Comparison of Cash and Investment Activity
CURRENT 2022 2022 LAST YEAR 2021 2021
ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET
BEGINNING CASH/INV BALANCE 8,468,053.70 8,371,183.05 8,082,836.54 8,132,545.88 7,908,311.54 7,908,312.00
RECEIPTS:
Fire Insurance Premium Tax 0.00 182,840.98 165,000.00 33,351.27 171,853.42 160,000.00
Investment Interest 4,494.28 16,737.95 125,000.00 1,812.12 530,397.79 225,000.00
DISBURSEMENTS:
Fire Pension 16,117.34 110,831.34 200,000.00 17,956.51 227,254.70 200,000.00
Fire Pension Medical 0.00 0.00 0.00 0.00 0.00 0.00
Office/Operating Supplies 0.00 0.00 475.00 0.00 0.00 475.00
Actuarial/Firemen's Pens 0.00 3,500.00 0.00 0.00 12,125.00 10,000.00
ENDING CASH/INV BALANCE $8,456,430.64 $8,456,430.64 $8,172,362 $8,149,752.76 $8,371,183.05 $8,082,837
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $7,849,779.82 $7,859,906.10 $7,445,258.47 $7,425,893.05
INVESTMENTS:
Federal National Mortgage Assn 0.00 0.00 0.00 0.00
Treasury Strips & Zero Coupon Bonds 600,333.41 600,333.41 698,844.16 698,844.16
Interest Receivable 6,317.41 7,814.19 5,650.13 7,808.67
TOTAL CASH AND INVESTMENTS $8,456,430.64 $8,468,053.70 $8,149,752.76 $8,132,545.88
The State Investment Pool interest 1.0112% 0.7044% 0.0753% 0.0764%
5.00
5.50
6.00
6.50
7.00
7.50
8.00
8.50
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillions of Dollars2022 2021
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\June 22 Page 1 7/18/2022
AGENDA ITEM #4. c)
FIREFIGHTERS' PENSION BOARD
PENSION/MEDICAL PAYMENTS FOR JUNE 2022
Recipient Pension Amt Benefit Total
4 ANKENY, Charlie (Captain) $208.42 ‐ $208.42
5 BARILLEAUX, Ray (Battalion Chief) ‐ ‐ $0.00
1 BERGMAN, Claudette (Widow) $74.43 ‐ $74.43
4 CHRISTENSON, Chuck (Firefighter) $368.37 ‐ $368.37
5 GEISSLER, Dick (Fire Chief) $11.72 ‐ $11.72
1 GOODWIN, Kathryn Lorayne (Widow) $1,170.17 ‐ $1,170.17
1 JONES, Evelyn M. (Widow) $325.25 ‐ $325.25
4 LAVALLEY, Theodele (Captain) $507.44 ‐ $507.44
5 MATTHEW, James (Deputy Chief) ‐ ‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $891.10 ‐ $891.10
4 NEWTON, Gary (Lieutenant) $388.39 ‐ $388.39
5 NICHOLS, Gerald (Battalion Chief) $746.49 ‐ $746.49
2 PARKS‐ANDREASON, Arlene (Widow) $471.70 ‐ $471.70
5 PHILLIPS, Bruce H. (Deputy Chief) $383.09 ‐ $383.09
1 PRINGLE, Barb $500.89 ‐ $500.89
1 PRINGLE, S. Joan (Widow) $3,326.24 ‐ $3,326.24
3 RIGGLE, Arduth S. (Widow) ‐ ‐ $0.00
4 RUPPRECHT, Jim (Firefighter D Step) $177.63 ‐ $177.63
1 SMITH, Shirley (Widow) $345.91 ‐ $345.91
1 STROM, Doris (Widow) $4,217.01 ‐ $4,217.01
1 TODD, Tess R. (Widow) $416.13 ‐ $416.13
2 TONDA, Lila Jean (Widow) $45.28 ‐ $45.28
4 VACCA, Nick (Lieutenant) $438.13 ‐ $438.13
1 WALLS, Camille (Widow) $118.11 ‐ $118.11
1 WEISS, Cheryl (Widow) $985.44 ‐ $985.44
Total Expenses: Pension/Medical $16,117.34 $0.00 $16,117.34
1 Widows ‐ Disability. Includes a 2% CPI increase effective July 1st, 2021 per RCW 41.16.145
2 Widows ‐ Service. Includes a 3.0% COLA Adj. Effective Janaury 1st, 2022.
3 Widows ‐ Service prior to 1969. Includes a 2% CPI increase effective July 1st, 2021 per RCW41.16.145
4 Retirees ‐ Disability after 1961. Includes a 3.0% COLA Adj. Effective Janaury 1st, 2022.
5 Retirees ‐ Service after 1969. Includes a 3.0% COLA Adj. Effective Janaury 1st, 2022.
Total Pension Payments for June, 2021 17,956.51
Total Medical Payments in June, 2021 0.00
Total Expenses: Medical/Pension 17,956.51
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 6/1/2022
AGENDA ITEM #5. a)
FIREFIGHTERS' PENSION BOARD
PENSION/MEDICAL PAYMENTS FOR JULY 2022
Recipient Pension Amt Benefit Total
4 ANKENY, Charlie (Captain) $208.42 ‐ $208.42
5 BARILLEAUX, Ray (Battalion Chief) ‐ ‐ $0.00
1 BERGMAN, Claudette (Widow) $259.66 ‐ $259.66
4 CHRISTENSON, Chuck (Firefighter) $368.37 ‐ $368.37
5 GEISSLER, Dick (Fire Chief) $11.72 ‐ $11.72
1 GOODWIN, Kathryn Lorayne (Widow) $1,408.99 ‐ $1,408.99
1 JONES, Evelyn M. (Widow) $527.27 ‐ $527.27
4 LAVALLEY, Theodele (Captain) $507.44 ‐ $507.44
5 MATTHEW, James (Deputy Chief) ‐ ‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $1,216.63 ‐ $1,216.63
4 NEWTON, Gary (Lieutenant) $388.39 ‐ $388.39
5 NICHOLS, Gerald (Battalion Chief) $746.49 ‐ $746.49
2 PARKS‐ANDREASON, Arlene (Widow) $471.70 ‐ $471.70
5 PHILLIPS, Bruce H. (Deputy Chief) $383.09 ‐ $383.09
1 PRINGLE, Barb $756.53 ‐ $756.53
1 PRINGLE, S. Joan (Widow) $3,479.25 ‐ $3,479.25
3 RIGGLE, Arduth S. (Widow) $93.75 ‐ $93.75
4 RUPPRECHT, Jim (Firefighter D Step) $177.63 ‐ $177.63
1 SMITH, Shirley (Widow) $528.01 ‐ $528.01
1 STROM, Doris (Widow) $4,410.99 ‐ $4,410.99
1 TODD, Tess R. (Widow) $597.81 ‐ $597.81
2 TONDA, Lila Jean (Widow) $45.28 ‐ $45.28
4 VACCA, Nick (Lieutenant) $438.13 ‐ $438.13
1 WALLS, Camille (Widow) $316.95 ‐ $316.95
1 WEISS, Cheryl (Widow) $1,317.72 ‐ $1,317.72
Total Expenses: Pension/Medical $18,660.22 $0.00 $18,660.22
1 Widows ‐ Disability. Includes a 4.6% CPI increase effective July 1st, 2022 per RCW 41.16.145
2 Widows ‐ Service. Includes a 3.0% COLA Adj. Effective Janaury 1st, 2022.
3 Widows ‐ Service prior to 1969. Includes a 4.6% CPI increase effective July 1st, 2022 per RCW41.16.145
4 Retirees ‐ Disability after 1961. Includes a 3.0% COLA Adj. Effective Janaury 1st, 2022.
5 Retirees ‐ Service after 1969. Includes a 3.0% COLA Adj. Effective Janaury 1st, 2022.
Total Pension Payments for July, 2021 18,943.66
Total Medical Payments in July, 2021 0.00
Total Expenses: Medical/Pension 18,943.66
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 7/18/2022
AGENDA ITEM #5. b)