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Home My WebLink AboutFinal Agenda PacketAGENDA Firefighters' Pension Board Meeting 2:00 PM - Thursday, November 16, 2023 Council Conference Room, 7th Floor, City Hall – 1055 S. Grady Way 1.CALL TO ORDER 2.APPROVAL OF MINUTES a)September 21, 2023 3.CORRESPONDENCE 4.MONTHLY STATEMENTS a)August 2023 b)September 2023 5.MONTHLY BILLS AND PENSION PAYMENTS a)October 2023 b)November 2023 6.UNFINISHED BUSINESS 7.NEW BUSINESS 8.ADJOURNMENT MINUTES FIREFIGHTERS’ PENSION BOARD CITY OF RENTON September 21, 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; City Clerk Jason Seth; and Fire Department Representatives Ray Barilleaux and Bruce Phillips. 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 JULY 20, 2023 MEETING. CARRIED. MONTHLY STATEMENT The June and July 2023 financial reports were reviewed. Total cash/investment balance was, as of July 31, 2023, $8,924,848.58. MONTHLY BILLS AND PENSION PAYMENTS MOVED BY BARILLEAUX, PHILLIPS, THE BOARD APPROVE THE PENSION/MEDICAL PAYMENTS OF $21,358.15 FOR AUGUST 2023, AND $21,358.15 FOR SEPTEMBER 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 AUGUST 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 8,924,848.58 8,733,790.97 8,460,708.00 8,444,091.58 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 23,649.44 161,500.73 225,000.00 7,934.01 406,059.76 125,000.00 DISBURSEMENTS: Fire Pension 21,358.15 167,718.15 240,000.00 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 $8,927,139.87 $8,927,139.87 $8,607,233 $8,433,365.37 $8,733,790.97 $8,172,362 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $8,396,003.87 $8,395,777.78 $7,826,143.64 $7,835,146.75 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 20,395.89 18,330.69 6,888.32 8,611.42 TOTAL CASH AND INVESTMENTS $8,927,139.87 $8,924,848.58 $8,433,365.37 $8,444,091.58 The State Investment Pool interest 5.3401% 5.2376% 2.2460% 1.6132% 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\Aug 23 Page 1 11/9/2023 AGENDA ITEM #4. a) CITY OF RENTON - FIREFIGHTER'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF SEPTEMBER 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 8,927,139.87 8,733,790.97 8,460,708.00 8,433,365.37 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 23,133.49 184,634.22 225,000.00 8,862.33 406,059.76 125,000.00 DISBURSEMENTS: Fire Pension 21,358.15 189,076.30 240,000.00 18,660.26 222,792.82 200,000.00 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 13,125.00 13,125.00 13,000.00 0.00 3,500.00 0.00 ENDING CASH/INV BALANCE $8,915,790.21 $8,915,790.21 $8,607,233 $8,423,567.44 $8,733,790.97 $8,172,362 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $8,387,053.88 $8,396,003.87 $7,817,073.49 $7,826,143.64 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 17,996.22 20,395.89 6,160.54 6,888.32 TOTAL CASH AND INVESTMENTS $8,915,790.21 $8,927,139.87 $8,423,567.44 $8,433,365.37 The State Investment Pool interest 5.3854% 5.3401% 2.5613% 2.2460% 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\Sep 23 Page 1 11/9/2023 AGENDA ITEM #4. b) FIREFIGHTERS' PENSION BOARD PENSION/RETRO PAYMENTS FOR OCTOBER 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 October, 2022 18,660.26 Total Medical Payments in October, 2022 0.00 Total Expenses: Medical/Pension 18,660.26 Prior Year Pension/Medical Payments: 4_SUMMARY 9/25/2023 AGENDA ITEM #5. a) FIREFIGHTERS' PENSION BOARD PENSION/RETRO PAYMENTS FOR NOVEMBER 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 November, 2022 18,660.26 Total Medical Payments in November, 2022 0.00 Total Expenses: Medical/Pension 18,660.26 Prior Year Pension/Medical Payments: 4_SUMMARY 10/25/2023 AGENDA ITEM #5. b)