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Final Agenda Packet
AGENDA Firefighters' Pension Board Meeting 2:00 PM - Thursday, March 17, 2022 Mayor's Conference Room, 7th Floor, City Hall – 1055 S. Grady Way Join Zoom Meeting https://us02web.zoom.us/j/81865425044?pwd=a0FJOEJKZkVaNXY0MmVqWUw0Uk1NQT09 Meeting ID: 818 6542 5044 Passcode: 864633 1. CALL TO ORDER 2. APPROVAL OF MINUTES a) January 20, 2022 3. CORRESPONDENCE 4. MONTHLY STATEMENTS a) December 2021 b) January 2022 c) February 2022 - DRAFT 5. MONTHLY BILLS AND PENSION PAYMENTS a) February 2022 b) March 2022 6. UNFINISHED BUSINESS 7. NEW BUSINESS 8. ADJOURNMENT CITY OF RENTON - FIREFIGHTER'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF DECEMBER 31, 2021 Firefighter's Pension Fund Comparison of Cash and Investment Activity CURRENT 2021 2021 LAST YEAR 2020 2020 ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE 8,378,694.32 7,908,311.54 7,908,312.00 7,913,995.37 7,565,901.69 7,565,902.00 RECEIPTS: Fire Insurance Premium Tax 0.00 171,853.42 160,000.00 0.00 165,916.78 143,000.00 Investment Interest 11,432.39 518,965.40 225,000.00 12,531.60 389,666.62 325,000.00 DISBURSEMENTS: Fire Pension 18,943.66 227,254.70 200,000.00 18,215.43 209,773.55 200,000.00 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 12,125.00 10,000.00 0.00 3,400.00 0.00 ENDING CASH/INV BALANCE $8,371,183.05 $8,359,750.66 $8,082,837 $7,908,311.54 $7,908,311.54 $7,833,427.00 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $7,765,724.31 $7,771,110.64 $7,085,776.48 $7,083,972.36 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 5,125.33 7,250.27 24,135.06 31,623.01 TOTAL CASH AND INVESTMENTS $8,371,183.05 $8,378,694.32 $7,908,311.54 $7,913,995.37 The State Investment Pool interest 0.0907% 0.0861% 0.1560% 0.1611% 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 Dollars2021 2020 H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\Dec 21 Page 1 3/14/2022 AGENDA ITEM #4. a) CITY OF RENTON - FIREFIGHTER'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF JANUARY 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 8,371,183.05 8,371,183.05 8,082,836.54 7,908,311.54 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 1,816.74 1,816.74 125,000.00 2,566.51 530,397.79 225,000.00 DISBURSEMENTS: Fire Pension 20,826.44 20,826.44 200,000.00 19,841.07 227,254.70 200,000.00 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 $8,352,173.35 $8,352,173.35 $8,172,362 $7,891,036.98 $8,371,183.05 $8,082,837 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $7,745,189.87 $7,765,724.31 $7,066,361.34 $7,085,776.48 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 6,650.07 5,125.33 26,275.64 24,135.06 TOTAL CASH AND INVESTMENTS $8,352,173.35 $8,371,183.05 $7,891,036.98 $7,908,311.54 The State Investment Pool interest 0.0909% 0.0907% 0.1395% 0.1560% 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\Jan 22 Page 1 3/14/2022 AGENDA ITEM #4. b) CITY OF RENTON - FIREFIGHTER'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF FEBRUARY 28, 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 8,371,183.05 8,371,183.05 8,082,836.54 7,891,036.98 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 1,500.00 1,500.00 125,000.00 2,836.02 530,397.79 225,000.00 DISBURSEMENTS: Fire Pension 20,826.44 20,826.44 200,000.00 19,841.07 227,254.70 200,000.00 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 $8,351,856.61 $8,351,856.61 $8,172,362 $7,874,031.93 $8,371,183.05 $8,082,837 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $7,745,189.87 $7,745,189.87 $7,069,844.41 $7,066,361.34 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 6,333.33 6,650.07 5,787.52 26,275.64 TOTAL CASH AND INVESTMENTS $8,351,856.61 $8,352,173.35 $7,874,031.93 $7,891,036.98 The State Investment Pool interest 0.0909% 0.0909% 0.1347% 0.1395% 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\Feb 22 Page 1 3/14/2022 AGENDA ITEM #4. c) FIREFIGHTERS' PENSION BOARD PENSION/MEDICAL PAYMENTS FOR FEBRUARY 2022 Recipient Pension Amt Benefit Total 4 ANKENY, Charlie (Captain) $454.97 ‐ $454.97 5 BARILLEAUX, Ray (Battalion Chief) ‐ ‐ $0.00 1 BERGMAN, Claudette (Widow) $253.65 ‐ $253.65 4 CHRISTENSON, Chuck (Firefighter) $572.93 ‐ $572.93 5 GEISSLER, Dick (Fire Chief) $365.70 ‐ $365.70 1 GOODWIN, Kathryn Lorayne (Widow) $1,352.53 ‐ $1,352.53 1 JONES, Evelyn M. (Widow) $509.59 ‐ $509.59 4 LAVALLEY, Theodele (Captain) $740.43 ‐ $740.43 5 MATTHEW, James (Deputy Chief) ‐ ‐ $0.00 1 MC LAUGHLIN, Barbara M. (Widow) $1,171.59 ‐ $1,171.59 4 NEWTON, Gary (Lieutenant) $599.44 ‐ $599.44 5 NICHOLS, Gerald (Battalion Chief) $1,008.07 ‐ $1,008.07 2 PARKS‐ANDREASON, Arlene (Widow) $691.91 ‐ $691.91 5 PHILLIPS, Bruce H. (Deputy Chief) $720.23 ‐ $720.23 1 PRINGLE, Barb $730.28 ‐ $730.28 1 PRINGLE, S. Joan (Widow) $3,326.24 ‐ $3,326.24 3 RIGGLE, Arduth S. (Widow) $95.27 ‐ $95.27 4 RUPPRECHT, Jim (Firefighter D Step) $362.68 ‐ $362.68 1 SMITH, Shirley (Widow) $509.73 ‐ $509.73 1 STROM, Doris (Widow) $4,217.01 ‐ $4,217.01 1 TODD, Tess R. (Widow) $576.35 ‐ $576.35 2 TONDA, Lila Jean (Widow) $354.81 ‐ $354.81 4 VACCA, Nick (Lieutenant) $635.95 ‐ $635.95 1 WALLS, Camille (Widow) $308.77 ‐ $308.77 1 WEISS, Cheryl (Widow) $1,268.31 ‐ $1,268.31 Total Expenses: Pension/Medical $20,826.44 $0.00 $20,826.44 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 February, 2021 19,841.07 Total Medical Payments in February, 2021 0.00 Total Expenses: Medical/Pension 19,841.07 Prior Year Pension/Medical Payments: 4_SUMMARY.xls 2/4/2022 AGENDA ITEM #5. a) FIREFIGHTERS' PENSION BOARD PENSION/MEDICAL PAYMENTS FOR MARCH 2022 Recipient Pension Amt Benefit Total 4 ANKENY, Charlie (Captain) $454.97 ‐ $454.97 5 BARILLEAUX, Ray (Battalion Chief) ‐ ‐ $0.00 1 BERGMAN, Claudette (Widow) $253.65 ‐ $253.65 4 CHRISTENSON, Chuck (Firefighter) $572.93 ‐ $572.93 5 GEISSLER, Dick (Fire Chief) $365.70 ‐ $365.70 1 GOODWIN, Kathryn Lorayne (Widow) $1,352.53 ‐ $1,352.53 1 JONES, Evelyn M. (Widow) $509.59 ‐ $509.59 4 LAVALLEY, Theodele (Captain) $740.43 ‐ $740.43 5 MATTHEW, James (Deputy Chief) ‐ ‐ $0.00 1 MC LAUGHLIN, Barbara M. (Widow) $1,171.59 ‐ $1,171.59 4 NEWTON, Gary (Lieutenant) $599.44 ‐ $599.44 5 NICHOLS, Gerald (Battalion Chief) $1,008.07 ‐ $1,008.07 2 PARKS‐ANDREASON, Arlene (Widow) $691.91 ‐ $691.91 5 PHILLIPS, Bruce H. (Deputy Chief) $720.23 ‐ $720.23 1 PRINGLE, Barb $730.28 ‐ $730.28 1 PRINGLE, S. Joan (Widow) $3,326.24 ‐ $3,326.24 3 RIGGLE, Arduth S. (Widow) $95.27 ‐ $95.27 4 RUPPRECHT, Jim (Firefighter D Step) $362.68 ‐ $362.68 1 SMITH, Shirley (Widow) $509.73 ‐ $509.73 1 STROM, Doris (Widow) $4,217.01 ‐ $4,217.01 1 TODD, Tess R. (Widow) $576.35 ‐ $576.35 2 TONDA, Lila Jean (Widow) $354.81 ‐ $354.81 4 VACCA, Nick (Lieutenant) $635.95 ‐ $635.95 1 WALLS, Camille (Widow) $308.77 ‐ $308.77 1 WEISS, Cheryl (Widow) $1,268.31 ‐ $1,268.31 Total Expenses: Pension/Medical $20,826.44 $0.00 $20,826.44 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 March, 2021 19,841.07 Total Medical Payments in March, 2021 0.00 Total Expenses: Medical/Pension 19,841.07 Prior Year Pension/Medical Payments: 4_SUMMARY.xls 3/7/2022 AGENDA ITEM #5. b)