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HomeMy WebLinkAboutFinal Agenda Packet AGENDA Firefighters' Pension Board Meeting 2:00 PM - Thursday, January 26, 2023 7th Floor Council Conference Room 720, City Hall – 1055 S. Grady Way 1. CALL TO ORDER 2. APPROVAL OF MINUTES a) November 21, 2022 3. CORRESPONDENCE 4. MONTHLY STATEMENTS a) October 2022 b) November 2022 c) December 2022 5. MONTHLY BILLS AND PENSION PAYMENTS a) December 2022 b) January 2023 6. UNFINISHED BUSINESS a) Ray Barilleaux reelected to Firefighters’ Pension Board. Term 1/1/2023 – 12/31/2024. 7. NEW BUSINESS 8. ADJOURNMENT MINUTES FIREFIGHTERS’ PENSION BOARD CITY OF RENTON November 21, 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 2:32 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 SEPTEMBER 22, 2022 MEETING. CARRIED. MONTHLY STATEMENT The August 2022 and September 2022 financial reports were reviewed. Total cash/investment balance was, as of September, 2022, $8,423,567.44. MONTHLY BILLS AND PENSION PAYMENTS MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, THE BOARD APPROVE THE PENSION/MEDICAL PAYMENTS OF $18,660.26 FOR OCTOBER 2022, AND $18,660.26 FOR NOVEMBER 2022, TO BE PAID BY THE FIREFIGHTERS’ PENSION FUND. CARRIED. NEW BUSINESS The Renton Regional Fire Authority mailed out ballots for the re-election of Ray Barilleaux to serve as Fire Department Representative for the term January 1, 2023 through December 31, 2024. We will know the results of the election at the January meeting. ADJOURNMENT Mayor Pavone adjourned the meeting at 2:39 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 OCTOBER 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 8,423,567.44 8,371,183.05 8,082,836.54 8,086,548.36 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 10,377.96 50,233.41 125,000.00 1,791.47 530,397.79 225,000.00 DISBURSEMENTS: Fire Pension 18,660.26 185,472.30 200,000.00 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 $8,415,285.14 $8,415,285.14 $8,172,362 $8,069,396.17 $8,371,183.05 $8,082,837 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $7,806,693.46 $7,817,073.49 $7,363,435.18 $7,382,443.78 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 8,258.27 6,160.54 7,116.83 5,260.42 TOTAL CASH AND INVESTMENTS $8,415,285.14 $8,423,567.44 $8,069,396.17 $8,086,548.36 The State Investment Pool interest 3.0336% 2.5613% 0.0938% 0.0870% 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\Oct 22 Page 1 1/17/2023 AGENDA ITEM #4. a) CITY OF RENTON - FIREFIGHTER'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF NOVEMBER 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 8,415,285.14 8,371,183.05 8,082,836.54 8,069,396.17 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 332,406.89 382,640.30 125,000.00 328,241.81 530,397.79 225,000.00 DISBURSEMENTS: Fire Pension 18,660.26 204,132.56 200,000.00 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 $8,729,031.77 $8,729,031.77 $8,172,362 $8,378,694.32 $8,371,183.05 $8,082,837 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $8,209,037.14 $7,806,693.46 $7,771,110.64 $7,363,435.18 INVESTMENTS: Federal National Mortgage Assn 0.00 0.00 0.00 0.00 Treasury Strips & Zero Coupon Bonds 510,740.11 600,333.41 600,333.41 698,844.16 Interest Receivable 9,254.52 8,258.27 7,250.27 7,116.83 TOTAL CASH AND INVESTMENTS $8,729,031.77 $8,415,285.14 $8,378,694.32 $8,069,396.17 The State Investment Pool interest 3.7566% 3.0336% 0.0861% 0.0938% 5.50 6.00 6.50 7.00 7.50 8.00 8.50 9.00 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillions of Dollars2022 2021 H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\Nov 22 Page 1 1/17/2023 AGENDA ITEM #4. b) CITY OF RENTON - FIREFIGHTER'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF DECEMBER 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 8,729,031.77 8,371,183.05 8,082,836.54 8,378,694.32 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 13,432.78 396,073.08 125,000.00 11,432.39 530,397.79 225,000.00 DISBURSEMENTS: Fire Pension 18,660.26 222,792.82 200,000.00 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 $8,723,804.29 $8,723,804.29 $8,172,362 $8,371,183.05 $8,371,183.05 $8,082,837 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $8,203,715.42 $8,209,037.14 $7,765,724.31 $7,771,110.64 INVESTMENTS: Federal National Mortgage Assn 0.00 0.00 0.00 0.00 Treasury Strips & Zero Coupon Bonds 510,740.11 510,740.11 600,333.41 600,333.41 Interest Receivable 9,348.76 9,254.52 5,125.33 7,250.27 TOTAL CASH AND INVESTMENTS $8,723,804.29 $8,729,031.77 $8,371,183.05 $8,378,694.32 The State Investment Pool interest 4.1194% 3.7566% 0.0907% 0.0861% 5.50 6.00 6.50 7.00 7.50 8.00 8.50 9.00 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillions of Dollars2022 2021 H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\Dec 22 Page 1 1/18/2023 AGENDA ITEM #4. c) FIREFIGHTERS' PENSION BOARD PENSION/MEDICAL PAYMENTS FOR DECEMBER 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 December, 2021 18,943.66 Total Medical Payments in December, 2021 0.00 Total Expenses:  Medical/Pension 18,943.66 Prior Year Pension/Medical Payments: 4_SUMMARY.xls 12/5/2022 AGENDA ITEM #5. a) FIREFIGHTERS' PENSION BOARD PENSION/MEDICAL PAYMENTS FOR JANUARY 2023 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 January, 2022 20,826.44 Total Medical Payments in January, 2022 0.00 Total Expenses:  Medical/Pension 20,826.44 Prior Year Pension/Medical Payments: 4_SUMMARY.xls 1/4/2023 AGENDA ITEM #5. b)   Page | 1     TO:  Jason Seth, City Clerk  FROM:  Steven C. Heitman, Fire Chief ______  DATE:  December 2, 2022  SUBJECT: Firefighter’s Pension Board Voting Results      An election was conducted to fill the vacancy created by the expiration of Ray Barilleaux’s term as  Renton RFA’s representative on the City of Renton Firemen’s Pension Board.    By unanimous vote, Ray Barilleaux has been re‐elected for this two‐year term of office effective  from January 1, 2023 – December 31, 2024.    Thank you!                                                SH/cn    c:  Mark Seaver, Deputy Chief, Safety & Support Services       Chuck DeSmith, Deputy Chief, EMS/Health & Safety       Samantha Babich, Chief Administration Officer  Signature: Email: SH SH Steven C Heitman (Dec 2, 2022 14:26 PST) Steven C Heitman steve.heitman@rentonrfa.org AGENDA ITEM #6. a)