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Home My WebLink AboutFinal Agenda PacketCITY OF RENTON FIREMEN'S PENSION BOARD Regular Meeting 7th Floor -Mayor's Conference Room Thursday, January 15, 2015 2:00 P.M. 1. CALL TO ORDER 2. APPROVAL OF MINUTES OF DECEMBER 4, 2014 CORRESPONDENCE 4. MONTHLY STATEMENTS FOR NOVEMBER 30 & DECEMBER 31, 2014 MONTHLY BILLS AND PENSION PAYMENTS 6. UNFINISHED BUSINESS 2015 Firemen's Pension Survey 7. NEW BUSINESS 8. ADJOURNMENT MINUTES FIREMEN'S PENSION BOARD CITY OF RENTON December 4, 2014 Denis Law, Mayor Terri Briere, Council Finance Committee Chair (Substitute: Marcie Palmer, Council Finance Committee Vice -Chair) Jason Seth, City Clerk Ray Barilleaux, Fire Department Representative Bruce Phillips, Fire Department Representative Chuck Christensen, Fire Department Alternate The regular meeting of the Firemen's Pension Board was called to order by Mayor Denis Law at 2:00 p.m. in the Mayor's office, 7th floor of Renton City Hall. In attendance were Board members Mayor Law, Jason Seth, City Clerk, Ray Barilleaux and Bruce Phillips. Also in attendance: Jill Masunago, Finance Department Representative. MINUTES APPROVAL MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, THE PENSION BOARD APPROVE THE MINUTES OF THE SEPTEMBER 18, 2014 MEETING. CARRIED. MONTHLY STATEMENT The final financial reports of September and October 2014 were reviewed. Total cash/investment balance was, as of October 31, 2014, $4,766,893.81. MONTHLY BILLS AND PENSION PAYMENTS MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, THE BOARD APPROVE THE PENSION/MEDICAL PAYMENTS OF $15,770.11 FOR OCTOBER 2014 AND $15,770.11 FOR NOVEMBER 2014 TO BE PAID BY THE FIREMEN'S PENSION FUND. CARRIED. UNFINISHED BUSINESS It was noted that the Fire & Emergency Services Department had not yet sent out the ballots for the 2015 board member election. The ballots will be sent out by the end of January 2015. NEW BUSINESS It was recommended that a survey be sent to pensioners to ensure that their addresses and other pertinent information is up to date. ADJOURNMENT MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, THE MEETING OF THE FIREMEN'S PENSION BOARD BE ADJOURNED. CARRIED. Time: 2:12 p.m. v ,on Seth, City lerk cretary, Firemen's Pension Board 6 5 CITY OF RENTON - FIREMEN'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF NOVEMBER 30, 2014 Fireman's Pension Fund Comparison of Cash and Investment Activit i 2 I Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension_2014.xls\Nov14 Page 1 1/9/2015 CURRENT 2014 2014 LAST YEAR 2013 2013 ACTIVITY: MONTH YTD BUDGET CURB MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE $4,766,893.81 $4,790,246.57 $4,615,528 $4,527,485.14 $4,556,003.05 $4,556,003 RECEIPTS: 99,555.84 99,555.84 99,555.84 Treasury Strips & Zero Coupon Bonds 1,868,831.88 2,038,263.18 Fire Insurance Premium Tax 0.00 142,705.88 100,000 0.00 128,865.67 100,000 Investment Interest 305,461.06 311,993.81 200,000 293,220.40 298,795.36 200,000 DISBURSEMENTS: The State Investment Pool interest 0.0916% 0.0987% 0.1161% Fire Pension 16,144.55 188,260.94 225,000 15,270.11 188,942.51 225,000 Fire Pension Medical 0.00 0.00 0 0.00 0.00 0 Office/Operating Supplies 0.00 475.00 475 475.00 475.00 475 Actuarial/Firemen's Pens 0.00 0.00 15,000 0.00 4,000.00 15,000 ENDING CASH/INV BALANCE $5,056,210.32 $5,056,210.32 $4,675,053 $4,804,960.43 $4,790,246.57 $4,615,528 H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension_2014.xls\Nov14 Page 1 1/9/2015 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURB MO PREV MO CASH/State Investment Pool $2,579,975.92 $2,621,815.49 $2,661,457.38 $2,205,184.64 INVESTMENTS: Federal National Mortgage Assn 599,278.13 99,555.84 99,555.84 99,555.84 Treasury Strips & Zero Coupon Bonds 1,868,831.88 2,038,263.18 2,038,263.18 2,217,524.06 Interest Receivable 8,124.39 7,259.30 5,684.03 5,220.60 TOTAL CASH AND INVESTMENTS $5,056,210.32 $4,766,893.81 $4,804,960.43 $4,527,485.14 The State Investment Pool interest 0.0916% 0.0987% 0.1161% 0.1259% H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension_2014.xls\Nov14 Page 1 1/9/2015 CITY OF RENTON - FIREMEN'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT Praft AS OF DECEMBER 31, 2014 6 5 Fireman's Pension Fund Comparison of Cash and Investment Activity 2 a Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension_2014.xls\Dec14 Page 1 1/9/2015 CURRENT 2014 2014 LAST YEAR 2013 2013 ACTIVITY: MONTH YTD BUDGET CURB MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE $5,056,210.32 $4,790,246.57 $4,615,528 $4,804,960.43 $4,556,003.05 $4,556,003 RECEIPTS: 599,278.13 99,555.84 99,555.84 Treasury Strips & Zero Coupon Bonds 1,868,831.88 1,868,831.88 Fire Insurance Premium Tax 0.00 142,705.88 100,000 0.00 128,865.67 100,000 Investment Interest 11.68 312,005.49 200,000 556.25 298,795.36 200,000 DISBURSEMENTS: The State Investment Pool interest 0.0916% 0.0916% 0.1276% Fire Pension 16,144.55 204,405.49 225,000 15,270.11 188,942.51 225,000 Fire Pension Medical 0.00 0.00 0 0.00 0.00 0 Office/Operating Supplies 0.00 475.00 475 0.00 475.00 475 Actuarial/Firemen's Pens 0.00 0.00 15,000 0.00 4,000.00 15,000 ENDING CASH/INV BALANCE $5,040,077.45 $5,040,077.45 $4,675,053 $4,790,246.57 $4,790,246.57 $4,615,528 H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension_2014.xls\Dec14 Page 1 1/9/2015 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURB MO PREV MO CASH/State Investment Pool $2,564,818.58 $2,579,975.92 $2,646,210.58 $2,661,457.38 INVESTMENTS: Federal National Mortgage Assn 599,278.13 599,278.13 99,555.84 99,555.84 Treasury Strips & Zero Coupon Bonds 1,868,831.88 1,868,831.88 2,038,263.18 2,038,263.18 Interest Receivable 7,148.86 8,124.39 6,216.97 5,684.03 TOTAL CASH AND INVESTMENTS $5,040,077.45 $5,056,210.32 $4,790,246.57 $4,804,960.43 The State Investment Pool interest 0.0916% 0.0916% 0.1276% 0.1161% H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension_2014.xls\Dec14 Page 1 1/9/2015 FIREMEN'S PENSION BOARD PENSION/MEDICAL PAYMENTS FOR DECEMBER, 2014 Tk iieni Pe cion Antf Metlical `5 Total_ ANKENY, Charlie (Captain) $73.07 73.07 BARILLEAUX, Ray (Battalion Chief) - - BEATTEAY, Karlen (Widow) $195.24 195.24 BERGMAN, Claudette (Widow) $112.30 112.30 CHRISTENSON, Chuck (Firefighter) $216.97 216.97 GEISSLER, Dick (Fire Chief) - - GOODWIN, Kathryn Lorayne (Widow) $1,033.23 1,033.23 HAWORTH, Constance (Widow) $3,250.93 3,250.93 Estate of HURST, Gerald (d 01/03/2014) - - JONES, Evelyn M. (Widow) $213.69 213.69 LARSON, William (Firefighter) - - LAVALLEY, Theodele (Captain) $317.19 317.19 MATTHEW, James (Deputy Chief) - - MC LAUGHLIN, Barbara M. (Widow) $878.80 878.80 NEWTON, Gary (Lieutenant) $230.29 230.29 NICHOLS, Gerald (Battalion Chief) $401.49 401.49 PARKS-ANDREASON, Arlene (Widow) $191.99 191.99 PHILLIPS, Bruce H. (Deputy Chief) $63.21 63.21 PRINGLE, Arthur (Captain) $446.56 446.56 PRINGLE, S. Joan (Widow) $2,792.91 2,792.91 RIGGLE, David E. (Firefighter D Step) $33.93 33.93 RUPPRECHT, Jim (Firefighter D Step) $71.80 71.80 SMITH, Leroy (Firefighter) $389.52 389.52 STROM, Doris (Widow) $3,565.25 3,565.25 TODD, Tess R. (Widow) $454.39 454.39 TONDA, Lila Jean (Widow) - - VACCA, Nick (Lieutenant) $274.99 274.99 WALLS, Camille (Widow) $99.91 99.91 WALLS, Mercedes (Widow) - - WEISS, Cheryl (Widow) $631.58 631.58 WILLIAMS, Alta (Widow) - - WOOTEN, Marilyn E. (Widow) $205.31 205.31 xOen ,s , pe is tSri/MadicS) Prior Year Pension/Medical Payments: Total Pension Payments for December, 2013 15,270.11 Total Medical Bills Reimbursed in December, 2013 0.00 Total Expenses: Medical/Pension 15,270.11 4 SUMMARY 2014.x18 12/9/2014 FIREMEN'S PENSION BOARD PENSION/MEDICAL PAYMENTS FOR JANUARY, 2015 01 . �,.. , ..µ ANKENY, Charlie (Captain) $174.57 174.57 BARILLEAUX, Ray (Battalion Chief) - - BEATTEAY, Karlen (Widow) $272.24 272.24 BERGMAN, Claudette (Widow) $187.30 187.30 CHRISTENSON, Chuck (Firefighter) $304.45 304.45 GEISSLER, Dick (Fire Chief) - - GOODWIN, Kathryn Lorayne (Widow) $1,129.83 1,129.83 HAWORTH, Constance (Widow) $3,250.93 3,250.93 JONES, Evelyn M. (Widow) $292.69 292.69 LARSON, William (Firefighter) - - LAVALLEY, Theodele (Captain) $418.69 418.69 MATTHEW, James (Deputy Chief) - - MC LAUGHLIN, Barbara M. (Widow) $1,025.54 1,025.54 NEWTON, Gary (Lieutenant) $320.79 320.79 NICHOLS, Gerald (Battalion Chief) $527.99 527.99 PARKS-ANDREASON, Arlene (Widow) $287.67 287.67 PHILLIPS, Bruce H. (Deputy Chief) $215.01 215.01 PRINGLE, Arthur (Captain) $549.56 549.56 PRINGLE, S. Joan (Widow) $2,792.91 2,792.91 RIGGLE, David E. (Firefighter D Step) $110.43 110.43 RUPPRECHT, Jim (Firefighter D Step) $148.30 148.30 SMITH, Leroy (Firefighter) $464.52 464.52 STROM, Doris (Widow) $3,565.25 3,565.25 TODD, Tess R. (Widow) $529.39 529.39 TONDA, Lila Jean (Widow) $42.60 42.60 VACCA, Nick (Lieutenant) $361.49 361.49 WALLS, Camille (Widow) $178.91 178.91 WALLS, Mercedes (Widow) $66.04 66.04 WEISS, Cheryl (Widow) $773.26 773.26 WILLIAMS, Alta (Widow) - - WOOTEN, Marilyn E. (Widow) $279.31 279.31 * Includes a 2.25% cost of living increase effective January 1 per Firefighters union contract. ** Includes a 2.50% cost of living increase effective January 1 per Bat Chief/SO union contract. Prior Year Pension/Medical Payments: Total Pension Payments for January, 2014 16,019.03 notal Medical Bills Reimbursed in January, 2014 0.00 Total Expenses: Medical/Pension 16,019.03 4 -SUMMARY 2015.xls 1/8/2015