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AGENDA
Firefighters' Pension Board Meeting
2:30 PM - Monday, November 21, 2022
Council Conference Room, Room 720, 7th Floor, City Hall – 1055 S. Grady Way
1. CALL TO ORDER
2. APPROVAL OF MINUTES
a) September 22, 2022
3. CORRESPONDENCE
4. MONTHLY STATEMENTS
a) August 2022 - Final
b) September 2022
5. MONTHLY BILLS AND PENSION PAYMENTS
a) October 2022
b) November 2022
6. UNFINISHED BUSINESS
7. NEW BUSINESS
a) Re-Election of Firefighter Pension Board Fire Department Representative
8. ADJOURNMENT
MINUTES
FIREFIGHTERS’ PENSION BOARD
CITY OF RENTON
September 22, 2022
________________________________________________________________________
Armondo Pavone, Mayor
Valerie O’Halloran, Finance Committee Chair
Jason Seth, City Clerk
Ray Barilleaux, Fire Department Representative
Bruce Phillips, Fire Department Representative
Kari Roller, Finance Administrator
Sean Hollingsworth, Finance Representative
________________________________________________________________________
The regular meeting of the Firefighters’ Pension Board was called to order by Mayor Armondo
Pavone at 2:01 p.m. In attendance were Armondo Pavone, Mayor; Valerie O’Halloran, Finance
Committee Chair; City Clerk Jason Seth; and Fire Department Representatives Ray Barilleaux and
Bruce Phillips. Additionally, Kari Roller, Finance Administrator and Sean Hollingsworth, Finance
Department Representative, were in attendance.
MINUTES APPROVAL
MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, THE PENSION BOARD APPROVE THE MINUTES
OF THE JULY 21, 2022 MEETING. CARRIED.
MONTHLY STATEMENT
The July 2022 and draft August 2022 financial reports were reviewed. Total cash/investment
balance was, as of August 31, 2022, $8,444,091.58.
MONTHLY BILLS AND PENSION PAYMENTS
MOVED BY BARILLEAUX, SECONDED BY O’HALLORAN, THE BOARD APPROVE THE
PENSION/MEDICAL PAYMENTS OF $18,660.22 FOR AUGUST 2022, AND $18,660.22 FOR
SEPTEMBER 2022, TO BE PAID BY THE FIREFIGHTERS’ PENSION FUND. CARRIED.
NEW BUSINESS
The board concurred to meet in-person only moving forward unless another emergency
requires remote attendance.
ADJOURNMENT
Mayor Pavone adjourned the meeting at 2:13 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 AUGUST 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 8,444,091.58 8,371,183.05 8,082,836.54 8,132,938.71 7,908,311.54 7,908,312.00
RECEIPTS:
Fire Insurance Premium Tax 0.00 182,840.98 165,000.00 0.00 171,853.42 160,000.00
Investment Interest 7,934.01 30,993.12 125,000.00 1,787.28 530,397.79 225,000.00
DISBURSEMENTS:
Fire Pension 18,660.22 148,151.78 200,000.00 18,943.66 227,254.70 200,000.00
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 12,125.00 12,125.00 10,000.00
ENDING CASH/INV BALANCE $8,433,365.37 $8,433,365.37 $8,172,362 $8,103,657.33 $8,371,183.05 $8,082,837
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $7,826,143.64 $7,835,146.75 $7,397,317.83 $7,426,853.38
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 6,888.32 8,611.42 7,495.34 7,241.17
TOTAL CASH AND INVESTMENTS $8,433,365.37 $8,444,091.58 $8,103,657.33 $8,132,938.71
The State Investment Pool interest 2.2460% 1.6132% 0.0789% 0.1783%
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\Aug 22 Page 1 11/9/2022
AGENDA ITEM #4. a)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF SEPTEMBER 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 8,433,365.37 8,371,183.05 8,082,836.54 8,103,657.33 7,908,311.54 7,908,312.00
RECEIPTS:
Fire Insurance Premium Tax 0.00 182,840.98 165,000.00 0.00 171,853.42 160,000.00
Investment Interest 8,862.33 39,855.45 125,000.00 1,834.69 530,397.79 225,000.00
DISBURSEMENTS:
Fire Pension 18,660.26 166,812.04 200,000.00 18,943.66 227,254.70 200,000.00
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 $8,423,567.44 $8,423,567.44 $8,172,362 $8,086,548.36 $8,371,183.05 $8,082,837
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $7,817,073.49 $7,826,143.64 $7,382,443.78 $7,397,317.83
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 6,160.54 6,888.32 5,260.42 7,495.34
TOTAL CASH AND INVESTMENTS $8,423,567.44 $8,433,365.37 $8,086,548.36 $8,103,657.33
The State Investment Pool interest 2.5613% 2.2460% 0.0870% 0.0789%
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\Sep 22 Page 1 11/9/2022
AGENDA ITEM #4. b)
FIREFIGHTERS' PENSION BOARD
PENSION/MEDICAL PAYMENTS FOR OCTOBER 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)$527.21 ‐ $527.21
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 $756.63 ‐ $756.63
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 $18,660.26 $0.00 $18,660.26
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 October, 2021 18,943.66
Total Medical Payments in October, 2021 0.00
Total Expenses: Medical/Pension 18,943.66
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 10/4/2022
AGENDA ITEM #5. a)
FIREFIGHTERS' PENSION BOARD
PENSION/MEDICAL PAYMENTS FOR NOVEMBER 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) $527.21 ‐ $527.21
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 $756.63 ‐ $756.63
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 $18,660.26 $0.00 $18,660.26
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 November, 2021 18,943.66
Total Medical Payments in November, 2021 0.00
Total Expenses: Medical/Pension 18,943.66
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 11/1/2022
AGENDA ITEM #5. b)