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AGENDA
Firefighters' Pension Board Meeting
2:00 PM - Thursday, September 21, 2023
Council Conference Room, 7th Floor, City Hall – 1055 S. Grady Way
1. CALL TO ORDER
2. APPROVAL OF MINUTES
a) July 20, 2023
3. CORRESPONDENCE
4. MONTHLY STATEMENTS
a) June 2023
b) July 2023
5. MONTHLY BILLS AND PENSION PAYMENTS
a) August 2023
b) September 2023
6. UNFINISHED BUSINESS
7. NEW BUSINESS
8. ADJOURNMENT
MINUTES
FIREFIGHTERS’ PENSION BOARD
CITY OF RENTON
July 20, 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
Kari Roller, Finance Administrator
________________________________________________________________________
The regular meeting of the Firefighters’ Pension Board was called to order by Mayor Armondo
Pavone at 2:00 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, Kari Roller and Sean Hollingsworth, Finance
Department Representatives, were in attendance.
MINUTES APPROVAL
MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, THE PENSION BOARD APPROVE THE MINUTES
OF THE MAY 24, 2023 MEETING. CARRIED.
MONTHLY STATEMENT
The April and May 2023 financial reports were reviewed. Total cash/investment balance was, as
of May 31, 2023, $8,917,141.47.
MONTHLY BILLS AND PENSION PAYMENTS
MOVED BY BARILLEAUX, PÉREZ, THE BOARD APPROVE THE PENSION/MEDICAL PAYMENTS OF
$16,377.87 FOR JUNE 2023, AND $21,358.15 FOR JULY 2023, TO BE PAID BY THE FIREFIGHTERS’
PENSION FUND. CARRIED.
UNFINISHED BUSINESS
Mr. Hollingsworth provided a brief overview of the origins and purpose of the Firefighters’
Pension Fund.
ADJOURNMENT
Mayor Pavone adjourned the meeting at 2:17 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 JUNE 30, 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 8,917,141.47 8,733,790.97 8,460,708.00 8,468,053.70 8,371,183.05 8,082,836.54
RECEIPTS:
Fire Insurance Premium Tax 0.00 199,566.32 175,000.00 0.00 182,840.98 165,000.00
Investment Interest 22,110.51 114,518.67 225,000.00 4,494.28 406,059.76 125,000.00
DISBURSEMENTS:
Fire Pension 16,377.87 125,001.85 240,000.00 16,117.34 222,792.82 200,000.00
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 $8,922,874.11 $8,922,874.11 $8,607,233 $8,456,430.64 $8,733,790.97 $8,172,362
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $8,395,814.46 $8,387,621.91 $7,849,779.82 $7,859,906.10
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 16,319.54 18,779.45 6,317.41 7,814.19
TOTAL CASH AND INVESTMENTS $8,922,874.11 $8,917,141.47 $8,456,430.64 $8,468,053.70
The State Investment Pool interest 5.2000% 5.1498% 1.0112% 0.7044%
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\Jun 23 Page 1 9/5/2023
AGENDA ITEM #4. a)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF JULY 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 8,922,874.11 8,733,790.97 8,460,708.00 8,456,430.64 8,371,183.05 8,082,836.54
RECEIPTS:
Fire Insurance Premium Tax 0.00 199,566.32 175,000.00 0.00 182,840.98 165,000.00
Investment Interest 23,332.62 137,851.29 225,000.00 6,321.16 406,059.76 125,000.00
DISBURSEMENTS:
Fire Pension 21,358.15 146,360.00 240,000.00 18,660.22 222,792.82 200,000.00
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 $8,924,848.58 $8,924,848.58 $8,607,233 $8,444,091.58 $8,733,790.97 $8,172,362
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $8,395,777.78 $8,395,814.46 $7,835,146.75 $7,849,779.82
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 18,330.69 16,319.54 8,611.42 6,317.41
TOTAL CASH AND INVESTMENTS $8,924,848.58 $8,922,874.11 $8,444,091.58 $8,456,430.64
The State Investment Pool interest 5.2376% 5.2000% 1.6132% 1.0112%
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\July 23 Page 1 9/5/2023
AGENDA ITEM #4. b)
FIREFIGHTERS' PENSION BOARD
PENSION/RETRO PAYMENTS FOR AUGUST 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) $290.55 - $290.55
4 CHRISTENSON, Chuck (Firefighter) $482.86 - $482.86
1 GOODWIN, Kathryn Lorayne (Widow) $1,543.44 - $1,543.44
1 JONES, Evelyn M. (Widow) $582.39 - $582.39
4 LAVALLEY, Theodele (Captain) $646.78 - $646.78
5 MATTHEW, James (Deputy Chief) - - $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $1,337.89 - $1,337.89
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 $834.35 - $834.35
1 PRINGLE, S. Joan (Widow) $3,792.38 - $3,792.38
3 RIGGLE, Arduth S. (Widow) $110.03 - $110.03
4 RUPPRECHT, Jim (Firefighter D Step) $264.61 - $264.61
1 SMITH, Shirley (Widow) $582.40 - $582.40
1 STROM, Doris (Widow) $4,807.98 - $4,807.98
1 TODD, Tess R. (Widow) $658.33 - $658.33
2 TONDA, Lila Jean (Widow) $165.12 - $165.12
4 VACCA, Nick (Lieutenant) $557.31 - $557.311WALLS, Camille (Widow)$353.47 - $353.47
1 WEISS, Cheryl (Widow) $1,448.17 - $1,448.17
Total Expenses: Pension/Medical $21,358.15 $0.00 $21,358.15
1 Widows - Disability. Includes a 9.0% CPI increase effective July 1st, 2023 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 9.0% CPI increase effective July 1st, 2023 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 August, 2022 18,660.22
Total Medical Payments in August, 2022 0.00
Total Expenses: Medical/Pension 18,660.22
Prior Year Pension/Medical Payments:
4_SUMMARY 8/1/2023
AGENDA ITEM #5. a)
FIREFIGHTERS' PENSION BOARD
PENSION/RETRO PAYMENTS FOR SEPTEMBER 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) $290.55 ‐ $290.55
4 CHRISTENSON, Chuck (Firefighter) $482.86 ‐ $482.86
1 GOODWIN, Kathryn Lorayne (Widow) $1,543.44 ‐ $1,543.44
1 JONES, Evelyn M. (Widow) $582.39 ‐ $582.39
4 LAVALLEY, Theodele (Captain) $646.78 ‐ $646.78
5 MATTHEW, James (Deputy Chief)‐‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $1,337.89 ‐ $1,337.89
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 $834.35 ‐ $834.35
1 PRINGLE, S. Joan (Widow) $3,792.38 ‐ $3,792.38
3 RIGGLE, Arduth S. (Widow) $110.03 ‐ $110.03
4 RUPPRECHT, Jim (Firefighter D Step) $264.61 ‐ $264.61
1 SMITH, Shirley (Widow) $582.40 ‐ $582.40
1 STROM, Doris (Widow) $4,807.98 ‐ $4,807.98
1 TODD, Tess R. (Widow) $658.33 ‐ $658.33
2 TONDA, Lila Jean (Widow) $165.12 ‐ $165.12
4 VACCA, Nick (Lieutenant) $557.31 ‐ $557.31
1 WALLS, Camille (Widow) $353.47 ‐ $353.47
1 WEISS, Cheryl (Widow) $1,448.17 ‐ $1,448.17
Total Expenses: Pension/Medical $21,358.15 $0.00 $21,358.15
1 Widows ‐ Disability. Includes a 9.0% CPI increase effective July 1st, 2023 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 9.0% CPI increase effective July 1st, 2023 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 September, 2022 18,660.22
Total Medical Payments in September, 2022 0.00
Total Expenses: Medical/Pension 18,660.22
Prior Year Pension/Medical Payments:
4_SUMMARY 9/5/2023
AGENDA ITEM #5. b)