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AGENDA
Firefighters' Pension Board Meeting
1:00 PM - Wednesday, May 24, 2023
Council Conference Room, 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/82158797215?pwd=dnkxRThPYmNwWS9nNExnQ0F1SmxTUT09
Meeting ID: 821 5879 7215 Passcode: 624243
1. CALL TO ORDER
2. APPROVAL OF MINUTES
a) March 23, 2023
3. CORRESPONDENCE
4. MONTHLY STATEMENTS
a) February 2023
b) March 2023
5. MONTHLY BILLS AND PENSION PAYMENTS
a) April 2023
b) May 2023
6. UNFINISHED BUSINESS
7. NEW BUSINESS
a) History of the Firefighters’ Pension Board
8. ADJOURNMENT
MINUTES
FIREFIGHTERS’ PENSION BOARD
CITY OF RENTON
March 23, 2023
________________________________________________________________________
Armondo Pavone, Mayor
Ruth Pérez, Finance Committee Chair
Jason Seth, City Clerk
Ray Barilleaux, Fire Department Representative
Bruce Phillips, Fire Department Representative
Chuck Christenson, Alternate Fire Department Representative
Sean Hollingsworth, Finance Representative
________________________________________________________________________
The regular meeting of the Firefighters’ Pension Board was called to order by Mayor Armondo
Pavone at 2:02 p.m. In attendance were Armondo Pavone, Mayor; Ruth Pérez, Finance
Committee Chair, City Clerk Jason Seth; and Fire Department Representatives Ray Barilleaux,
Bruce Phillips, and Chuck Christenson. Additionally, Sean Hollingsworth, Finance Department
Representative, was in attendance.
MINUTES APPROVAL
MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, THE PENSION BOARD APPROVE THE MINUTES
OF THE JANUARY 20, 2023 MEETING. CARRIED.
MONTHLY STATEMENT
The December 2022, January 2023 financial reports were reviewed. Total cash/investment
balance was, as of December 31, 2022, $8,730,442.59.
MONTHLY BILLS AND PENSION PAYMENTS
MOVED BY BARILLEAUX, PHILLIPS, THE BOARD APPROVE THE PENSION/MEDICAL PAYMENTS OF
$32,693.66 for FEBRUARY 2023, AND $24,845.64 FOR MARCH 2023, TO BE PAID BY THE
FIREFIGHTERS’ PENSION FUND. CARRIED.
ADJOURNMENT
Mayor Pavone adjourned the meeting at 2:12 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 FEBRUARY 28, 2023
Firefighter's Pension Fund Comparison of Cash and Investment Activity
CURRENT 2023 2023 LAST YEAR 2022 2022
ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET
BEGINNING CASH/INV BALANCE 8,730,442.59 8,733,790.97 8,460,708.00 8,352,173.35 8,371,183.05 8,082,836.54
RECEIPTS:
Fire Insurance Premium Tax 0.00 0.00 175,000.00 0.00 182,840.98 165,000.00
Investment Interest 14,809.34 30,121.22 225,000.00 1,829.38 406,059.76 125,000.00
DISBURSEMENTS:
Fire Pension 32,693.66 51,353.92 240,000.00 20,826.44 222,792.82 200,000.00
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 13,000.00 0.00 3,500.00 0.00
ENDING CASH/INV BALANCE $8,712,558.27 $8,712,558.27 $8,607,233 $8,333,176.29 $8,733,790.97 $8,172,362
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $8,191,095.30 $8,208,615.04 $7,726,491.29 $7,745,189.87
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 10,722.86 11,087.44 6,351.59 6,650.07
TOTAL CASH AND INVESTMENTS $8,712,558.27 $8,730,442.59 $8,333,176.29 $8,352,173.35
The State Investment Pool interest 4.6091% 4.3952% 0.1083% 0.0909%
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 Dollars2023 2022
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\Feb 23 Page 1 5/9/2023
AGENDA ITEM #4. a)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF MARCH 31, 2023
Firefighter's Pension Fund Comparison of Cash and Investment Activity
CURRENT 2023 2023 LAST YEAR 2022 2022
ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET
BEGINNING CASH/INV BALANCE 8,712,558.27 8,733,790.97 8,460,708.00 8,333,176.29 8,371,183.05 8,082,836.54
RECEIPTS:
Fire Insurance Premium Tax 0.00 0.00 175,000.00 0.00 182,840.98 165,000.00
Investment Interest 18,091.29 48,212.51 225,000.00 2,237.15 406,059.76 125,000.00
DISBURSEMENTS:
Fire Pension 24,845.64 76,199.56 240,000.00 20,826.44 222,792.82 200,000.00
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 13,000.00 0.00 3,500.00 0.00
ENDING CASH/INV BALANCE $8,705,803.92 $8,705,803.92 $8,607,233 $8,314,587.00 $8,733,790.97 $8,172,362
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $8,183,662.24 $8,191,095.30 $7,708,135.42 $7,726,491.29
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 11,401.57 10,722.86 6,118.17 6,351.59
TOTAL CASH AND INVESTMENTS $8,705,803.92 $8,712,558.27 $8,314,587.00 $8,333,176.29
The State Investment Pool interest 4.7698% 4.6091% 0.2253% 0.1083%
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 Dollars2023 2022
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\Mar 23 Page 1 5/9/2023
AGENDA ITEM #4. b)
FIREFIGHTERS' PENSION BOARD
PENSION/RETRO PAYMENTS FOR APRIL 2023
Recipient Pension Amt Retro Total
4 ANKENY, Charlie (Captain) $321.41 ‐ $321.41
5 BARILLEAUX, Ray (Battalion Chief) ‐ ‐ $0.00
1 BERGMAN, Claudette (Widow) ‐ ‐ $0.00
4 CHRISTENSON, Chuck (Firefighter) $482.86 ‐ $482.86
1 GOODWIN, Kathryn Lorayne (Widow) $1,054.70 ‐ $1,054.70
1 JONES, Evelyn M. (Widow) $169.08 ‐ $169.08
4 LAVALLEY, Theodele (Captain) $646.78 ‐ $646.78
5 MATTHEW, James (Deputy Chief) ‐ ‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $671.69 ‐ $671.69
4 NEWTON, Gary (Lieutenant) $506.86 ‐ $506.86
5 NICHOLS, Gerald (Battalion Chief) $921.28 ‐ $921.28
2 PARKS‐ANDREASON, Arlene (Widow) $602.87 ‐ $602.87
5 PHILLIPS, Bruce H. (Deputy Chief) $547.67 ‐ $547.67
1 PRINGLE, Barb $310.97 ‐ $310.97
1 PRINGLE, S. Joan (Widow) $3,479.25 ‐ $3,479.25
3 RIGGLE, Arduth S. (Widow) ‐ ‐ $0.00
4 RUPPRECHT, Jim (Firefighter D Step) $264.61 ‐ $264.61
1 SMITH, Shirley (Widow) $209.73 ‐ $209.73
1 STROM, Doris (Widow) $4,410.99 ‐ $4,410.99
1 TODD, Tess R. (Widow) $286.53 ‐ $286.53
2 TONDA, Lila Jean (Widow) $165.12 ‐ $165.12
4 VACCA, Nick (Lieutenant) $557.31 ‐ $557.31
1 WALLS, Camille (Widow) ‐ ‐ $0.00
1 WEISS, Cheryl (Widow) $768.16 ‐ $768.16
Total Expenses: Pension/Medical $16,377.87 $0.00 $16,377.87
1 Widows ‐ Disability. Includes a 4.6% CPI increase effective July 1st, 2022 per RCW 41.16.145
2 Widows ‐ Service. Includes a 10.49% COLA Adj. Effective Janaury 1st, 2023.
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 10.49% COLA Adj. Effective Janaury 1st, 2023.
5 Retirees ‐ Service after 1969. Includes a 10.49% COLA Adj. Effective Janaury 1st, 2023.
Total Pension Payments for April, 2022 16,117.34
Total Medical Payments in April, 2022 0.00
Total Expenses: Medical/Pension 16,117.34
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 4/10/2023
AGENDA ITEM #5. a)
FIREFIGHTERS' PENSION BOARD
PENSION/RETRO PAYMENTS FOR MAY 2023
Recipient Pension Amt Retro Total
4 ANKENY, Charlie (Captain) $321.41 ‐ $321.41
5 BARILLEAUX, Ray (Battalion Chief) ‐ ‐ $0.00
1 BERGMAN, Claudette (Widow) ‐ ‐ $0.00
4 CHRISTENSON, Chuck (Firefighter) $482.86 ‐ $482.86
1 GOODWIN, Kathryn Lorayne (Widow) $1,054.70 ‐ $1,054.70
1 JONES, Evelyn M. (Widow) $169.08 ‐ $169.08
4 LAVALLEY, Theodele (Captain) $646.78 ‐ $646.78
5 MATTHEW, James (Deputy Chief) ‐ ‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $671.69 ‐ $671.69
4 NEWTON, Gary (Lieutenant) $506.86 ‐ $506.86
5 NICHOLS, Gerald (Battalion Chief) $921.28 ‐ $921.28
2 PARKS‐ANDREASON, Arlene (Widow) $602.87 ‐ $602.87
5 PHILLIPS, Bruce H. (Deputy Chief) $547.67 ‐ $547.67
1 PRINGLE, Barb $310.97 ‐ $310.97
1 PRINGLE, S. Joan (Widow) $3,479.25 ‐ $3,479.25
3 RIGGLE, Arduth S. (Widow) ‐ ‐ $0.00
4 RUPPRECHT, Jim (Firefighter D Step) $264.61 ‐ $264.61
1 SMITH, Shirley (Widow) $209.73 ‐ $209.73
1 STROM, Doris (Widow) $4,410.99 ‐ $4,410.99
1 TODD, Tess R. (Widow) $286.53 ‐ $286.53
2 TONDA, Lila Jean (Widow) $165.12 ‐ $165.12
4 VACCA, Nick (Lieutenant) $557.31 ‐ $557.31
1 WALLS, Camille (Widow) ‐ ‐ $0.00
1 WEISS, Cheryl (Widow) $768.16 ‐ $768.16
Total Expenses: Pension/Medical $16,377.87 $0.00 $16,377.87
1 Widows ‐ Disability. Includes a 4.6% CPI increase effective July 1st, 2022 per RCW 41.16.145
2 Widows ‐ Service. Includes a 10.49% COLA Adj. Effective Janaury 1st, 2023.
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 10.49% COLA Adj. Effective Janaury 1st, 2023.
5 Retirees ‐ Service after 1969. Includes a 10.49% COLA Adj. Effective Janaury 1st, 2023.
Total Pension Payments for May, 2022 16,117.34
Total Medical Payments in May, 2022 0.00
Total Expenses: Medical/Pension 16,117.34
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 5/2/2023
AGENDA ITEM #5. b)