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Home My WebLink AboutFinal Agenda Packet AGENDA Firefighters' Pension Board Meeting 2:00 PM - Thursday, September 21, 2017 Mayor's Conference Room, 7th Floor, City Hall – 1055 S. Grady Way 1. CALL TO ORDER 2. APPROVAL OF MINUTES a) July 20, 2017 3. CORRESPONDENCE 4. MONTHLY STATEMENTS a) July 2017 Statement b) August 2017 Statement 5. MONTHLY BILLS AND PENSION PAYMENTS a) August 2017 b) September 2017 6. UNFINISHED BUSINESS 7. NEW BUSINESS 8. ADJOURNMENT MINUTES FIREFIGHTERS' PENSION BOARD CITY OF RENTON July 20,2017 Denis Law, Mayor Don Persson, Finance Committee Chair-ABSENT Jason Seth, City Clerk Ray Barilleaux, Fire Department Representative Bruce Phillips, Fire Department Representative Chuck Christenson, Alternate Fire Department Representative Jamie Thomas, Finance Department Representative The regular meeting of the Firefighters' Pension Board was called to order by Mayor Denis Law at 2:02 p.m. in the Mayor's office, 7th floor of Renton City Hall. In attendance were Board members Mayor Denis Law, City Clerk Jason Seth, Fire Department Representative Ray Barilleaux, Fire Department Representative Bruce Phillips, and Finance Department Representative Jamie Thomas. MINUTES APPROVAL MOVED BY BARILLEAUX, SECONDED BY PHILLIPS,THE PENSION BOARD APPROVE THE MINUTES OF THE MAY 18, 2017 MEETING. CARRIED. CORRESPONDENCE Mr. Seth reported that widows received a 2.2%Cost of Living Allowance (COLA) increase per RCW 41.18.104. Ms.Thomas stated that she would send the affected widows a letter notifying them of the increase. MONTHLY STATEMENT The May 30, 2017 and lune 30, 2017 financial reports were reviewed.Total cash/investment balance was, as of lune 20, 2017, $5,640,855.99. MONTHLY BILLS AND PENSION PAYMENTS MOVED BY BARILLEAUX, SECONDED BY PHILLIPS,THE BOARD APPROVE THE PENSION/MEDICAL PAYMENTS OF$15,141.59 FOR JUNE 2017 AND$15,297.12 FOR JULY 2017,TO BE PAID BY THE FIREFIGHTERS' PENSION FUND. CARRIED. ADJOURNMENT MOVED BY BARILLEAUX, SECONDED BY PHILLIPS,THE FIREFIGHTERS' PENSION BORARD ADJOURN. CARRIED.TIME: 2:06 P.M. lason Seth, City Clerk Secretary, Firefighters' Pension Board AGENDA ITEM #2. a) CITY OF RENTON - FIREFIGHTER'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF JULY 31, 2017 Firefighter's Pension Fund Comparison of Cash and Investment Activity CURRENT 2017 2017 LAST YEAR 2016 2016 ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE 5,627,688.13 5,578,044.41 5,202,834.91 5,357,352.19 5,299,034.47 4,935,309.91 RECEIPTS: Fire Insurance Premium Tax 0.00 150,950.76 143,000.00 0.00 148,033.76 143,000.00 Investment Interest 2,124.97 15,015.08 325,000.00 1,125.32 339,631.82 325,000.00 DISBURSEMENTS: Fire Pension 15,287.12 129,484.27 200,000.00 18,394.14 208,229.65 200,000.00 Fire Pension Medical 0.00 0.00 0.00 0.00 0.00 0.00 Office/Operating Supplies 0.00 0.00 475.00 0.00 425.99 475.00 Actuarial/Firemen's Pens 0.00 0.00 0.00 0.00 0.00 0.00 ENDING CASH/INV BALANCE $5,614,525.98 $5,614,525.98 $5,470,360 $5,340,083.37 $5,578,044.41 $5,202,835 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $3,188,601.52 $3,202,701.77 $2,767,463.24 $2,785,384.12 INVESTMENTS: Federal National Mortgage Assn 852,855.63 852,855.63 852,855.63 852,855.63 Treasury Strips & Zero Coupon Bonds 1,561,038.48 1,561,038.48 1,709,638.98 1,709,638.98 Interest Receivable 12,030.35 11,092.25 10,125.52 9,473.46 TOTAL CASH AND INVESTMENTS $5,614,525.98 $5,627,688.13 $5,340,083.37 $5,357,352.19 The State Investment Pool interest 1.0700% 0.9803% 0.4895% 0.5113% 5.00 5.25 5.50 5.75 6.00 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Mi l l i o n s o f D o l l a r s 2017 2016 H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\July 17 Page 1 9/18/2017 AGENDA ITEM #4. a) CITY OF RENTON - FIREFIGHTER'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF AUGUST 31, 2017 Firefighter's Pension Fund Comparison of Cash and Investment Activity CURRENT 2017 2017 LAST YEAR 2016 2016 ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE 5,614,525.98 5,578,044.41 5,202,834.91 5,340,083.37 5,299,034.47 4,935,309.91 RECEIPTS: Fire Insurance Premium Tax 0.00 150,950.76 143,000.00 0.00 148,033.76 143,000.00 Investment Interest 2,236.51 17,251.59 325,000.00 1,019.43 339,631.82 325,000.00 DISBURSEMENTS: Fire Pension 15,287.12 144,771.39 200,000.00 18,894.14 208,229.65 200,000.00 Fire Pension Medical 0.00 0.00 0.00 0.00 0.00 0.00 Office/Operating Supplies 0.00 0.00 475.00 0.00 425.99 475.00 Actuarial/Firemen's Pens 0.00 0.00 0.00 0.00 0.00 0.00 ENDING CASH/INV BALANCE $5,601,475.37 $5,601,475.37 $5,470,360 $5,322,208.66 $5,578,044.41 $5,202,835 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $3,174,782.99 $3,188,601.52 $2,748,919.68 $2,767,463.24 INVESTMENTS: Federal National Mortgage Assn 852,855.63 852,855.63 852,855.63 852,855.63 Treasury Strips & Zero Coupon Bonds 1,561,038.48 1,561,038.48 1,709,638.98 1,709,638.98 Interest Receivable 12,798.27 12,030.35 10,794.37 10,125.52 TOTAL CASH AND INVESTMENTS $5,601,475.37 $5,614,525.98 $5,322,208.66 $5,340,083.37 The State Investment Pool interest 1.1101% 1.0734% 0.4852% 0.4895% 5.00 5.25 5.50 5.75 6.00 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Mi l l i o n s o f D o l l a r s 2017 2016 H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\August 17 Page 1 9/21/2017 AGENDA ITEM #4. b) FIREFIGHTERS' PENSION BOARD PENSION/MEDICAL PAYMENTS FOR AUGUST 2017 Recipient Pension Amt Medical Total ANKENY, Charlie (Captain) $153.63 153.63 BARILLEAUX, Ray (Battalion Chief)‐‐ BERGMAN, Claudette (Widow) $174.42 174.42 CHRISTENSON, Chuck (Firefighter) $294.28 294.28 GEISSLER, Dick (Fire Chief)‐‐ GOODWIN, Kathryn Lorayne (Widow) $1,159.41 1,159.41 JONES, Evelyn M. (Widow) $284.03 284.03 LARSON, William (Firefighter)‐‐ LAVALLEY, Theodele (Captain) $410.45 410.45 MATTHEW, James (Deputy Chief)‐‐ MC LAUGHLIN, Barbara M. (Widow) $1,143.87 1,143.87 NEWTON, Gary (Lieutenant) $310.61 310.61 NICHOLS, Gerald (Battalion Chief) $611.47 611.47 PARKS‐ANDREASON, Arlene (Widow) $381.11 381.11 PHILLIPS, Bruce H. (Deputy Chief) $293.41 293.41 PRINGLE, Arthur (Captain) $547.69 547.69 *PRINGLE, S. Joan (Widow) $2,969.68 2,969.68 RIGGLE, Arduth S. (Widow) $93.13 93.13 RUPPRECHT, Jim (Firefighter D Step) $132.97 132.97 SMITH, Shirley (Widow) $466.07 466.07 *STROM, Doris (Widow) $3,790.89 3,790.89 TODD, Tess R. (Widow) $534.31 534.31 TONDA, Lila Jean (Widow) $8.26 8.26 VACCA, Nick (Lieutenant) $354.69 354.69 WALLS, Camille (Widow) $164.32 164.32 WALLS, Mercedes (Widow) $132.20 132.20 WEISS, Cheryl (Widow) $876.22 876.22 Total Expenses: Pension/Medical $15,287.12 $0.00 $15,287.12 *Includes a 2.2% CPI increase effective July 1 per RCW 41.16.145 Total Pension Payments forJuly 2016 18,394.14 Total Medical Bills Reimbursed in July, 2016 0.00 Total Expenses: Medical/Pension 18,394.14 Prior Year Pension/Medical Payments: 4_SUMMARY 2017 8/10/2017 AGENDA ITEM #5. a) FIREFIGHTERS' PENSION BOARD PENSION/MEDICAL PAYMENTS FOR SEPTEMBER 2017 Recipient Pension Amt Medical Total ANKENY, Charlie (Captain) $153.63 153.63 BARILLEAUX, Ray (Battalion Chief)‐‐ BERGMAN, Claudette (Widow) $174.42 174.42 CHRISTENSON, Chuck (Firefighter) $294.28 294.28 GEISSLER, Dick (Fire Chief)‐‐ GOODWIN, Kathryn Lorayne (Widow) $1,159.41 1,159.41 JONES, Evelyn M. (Widow) $284.03 284.03 LARSON, William (Firefighter)‐‐ LAVALLEY, Theodele (Captain) $410.45 410.45 MATTHEW, James (Deputy Chief)‐‐ MC LAUGHLIN, Barbara M. (Widow) $1,143.87 1,143.87 NEWTON, Gary (Lieutenant) $310.61 310.61 NICHOLS, Gerald (Battalion Chief) $611.47 611.47 PARKS‐ANDREASON, Arlene (Widow) $381.11 381.11 PHILLIPS, Bruce H. (Deputy Chief) $293.41 293.41 PRINGLE, Arthur (Captain) $547.69 547.69 *PRINGLE, S. Joan (Widow) $2,969.68 2,969.68 RIGGLE, Arduth S. (Widow) $93.13 93.13 RUPPRECHT, Jim (Firefighter D Step) $132.97 132.97 SMITH, Shirley (Widow) $466.07 466.07 *STROM, Doris (Widow) $3,790.89 3,790.89 TODD, Tess R. (Widow) $534.31 534.31 TONDA, Lila Jean (Widow) $8.26 8.26 VACCA, Nick (Lieutenant) $354.69 354.69 WALLS, Camille (Widow) $164.32 164.32 WALLS, Mercedes (Widow) $132.20 132.20 WEISS, Cheryl (Widow) $876.22 876.22 Total Expenses: Pension/Medical $15,287.12 $0.00 $15,287.12 *Includes a 2.2% CPI increase effective July 1 per RCW 41.16.145 Total Pension Payments for September, 2016 18,894.14 Total Medical Bills Reimbursed in September, 2016 0.00 Total Expenses: Medical/Pension 18,894.14 Prior Year Pension/Medical Payments: 4_SUMMARY 2017 9/1/2017 AGENDA ITEM #5. b)