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AGENDA
Firefighters' Pension Board Meeting
1:30 PM - Wednesday, January 31, 2024
Conferencing Center, 7th Floor, City Hall – 1055 S. Grady Way
1. CALL TO ORDER
2. APPROVAL OF MINUTES
a) November 16, 2023
3. CORRESPONDENCE
a) Craig Soucy elected for 1/1/2024 - 12/31/2025 Term
4. MONTHLY STATEMENTS
a) October 2023
b) November 2023
5. MONTHLY BILLS AND PENSION PAYMENTS
a) December 2023
b) January 2024
6. UNFINISHED BUSINESS
7. NEW BUSINESS
8. ADJOURNMENT
MINUTES
FIREFIGHTERS’ PENSION BOARD
CITY OF RENTON
November 16, 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 SEPTEMBER 2023 MEETING. CARRIED.
MONTHLY STATEMENT
The August and September 2023 financial reports were reviewed. Total cash/investment
balance was, as of September 30, 2023, $8,915,789.21.
MONTHLY BILLS AND PENSION PAYMENTS
MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, THE BOARD APPROVE THE PENSION/MEDICAL
PAYMENTS OF $21,358.15 FOR OCTOBER 2023, AND $21,358.15 FOR NOVEMBER 2023, TO BE
PAID BY THE FIREFIGHTERS’ PENSION FUND. CARRIED.
ADJOURNMENT
Mayor Pavone adjourned the meeting at 2:07 p.m.
Jason Seth, MMC
City Clerk/Public Records Officer
Secretary, Firefighters’ Pension Board
AGENDA ITEM #2. a)
Page | 1
TO: Jason Seth, City Clerk
FROM: Steven C. Heitman, Fire Chief ______
DATE: December 21, 2023
SUBJECT: Firefighter’s Pension Board Voting Results
An election was conducted to fill the vacancy created by the expiration of Bruce Phillips’ term as
Renton RFA’s representative on the City of Renton Firemen’s Pension Board.
By a majority vote, Craig Soucy has been elected for this two‐year term of office effective from
January 1, 2024 through December 31, 2025.
Thank you!
SH/cn
c: Mark Seaver, Deputy Chief, Safety & Support Services
Chuck DeSmith, Deputy Chief, EMS/Health & Safety
Samantha Babich, Chief Administration Officer
SH
SH
Steven C Heitman (Dec 21, 2023 21:00 PST)
Steven C Heitman
AGENDA ITEM #3. a)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF OCTOBER 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 8,915,790.21 8,733,790.97 8,460,708.00 8,423,567.44 8,371,183.05 8,082,836.54
RECEIPTS:
Fire Insurance Premium Tax 0.00 199,566.32 199,566.32 0.00 182,840.98 165,000.00
Investment Interest 24,166.21 208,800.43 225,000.00 10,377.96 406,059.76 125,000.00
DISBURSEMENTS:
Fire Pension 21,358.15 223,559.45 254,000.00 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 0.00 13,125.00 13,000.00 0.00 3,500.00 0.00
ENDING CASH/INV BALANCE $8,918,598.27 $8,905,473.27 $8,617,799 $8,415,285.14 $8,733,790.97 $8,172,362
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $8,388,628.87 $8,387,053.88 $7,806,693.46 $7,817,073.49
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 19,229.29 17,996.22 8,258.27 6,160.54
TOTAL CASH AND INVESTMENTS $8,918,598.27 $8,915,790.21 $8,415,285.14 $8,423,567.44
The State Investment Pool interest 5.3975% 5.3854% 3.0336% 2.5613%
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\Oct 23 Page 1 1/11/2024
AGENDA ITEM #4. a)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF NOVEMBER 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 8,918,598.27 8,733,790.97 8,460,708.00 8,415,285.14 8,371,183.05 8,082,836.54
RECEIPTS:
Fire Insurance Premium Tax 0.00 199,566.32 199,566.32 0.00 182,840.98 165,000.00
Investment Interest 336,283.12 545,083.55 225,000.00 332,406.89 406,059.76 125,000.00
DISBURSEMENTS:
Fire Pension 21,358.15 231,792.60 254,000.00 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 0.00 13,125.00 13,000.00 0.00 3,500.00 0.00
ENDING CASH/INV BALANCE $9,233,523.24 $9,233,523.24 $8,617,799 $8,729,031.77 $8,733,790.97 $8,172,362
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $8,782,474.96 $8,388,628.87 $8,209,037.14 $7,806,693.46
INVESTMENTS:
Federal National Mortgage Assn 0.00 0.00 0.00 0.00
Treasury Strips & Zero Coupon Bonds 429,683.86 510,740.11 510,740.11 600,333.41
Interest Receivable 21,364.42 19,229.29 9,254.52 8,258.27
TOTAL CASH AND INVESTMENTS $9,233,523.24 $8,918,598.27 $8,729,031.77 $8,415,285.14
The State Investment Pool interest 5.4347% 5.3975% 3.7566% 3.0336%
6.00
6.50
7.00
7.50
8.00
8.50
9.00
9.50
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillions of Dollars2023 2022
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\Nov 23 Page 1 1/11/2024
AGENDA ITEM #4. b)
FIREFIGHTERS' PENSION BOARD
PENSION/RETRO PAYMENTS FOR DECEMBER 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.xls 11/28/2023
AGENDA ITEM #5. a)
FIREFIGHTERS' PENSION BOARD
PENSION/RETRO PAYMENTS FOR JANUARY 2024
Recipient Pension Amt Retro Total
4 ANKENY, Charlie (Captain) $633.41 ‐ $633.41
5 BARILLEAUX, Ray (Battalion Chief)‐‐ $0.00
1 BERGMAN, Claudette (Widow) $290.55 ‐ $290.55
4 CHRISTENSON, Chuck (Firefighter) $752.32 ‐ $752.32
1 GOODWIN, Kathryn Lorayne (Widow) $1,543.44 ‐ $1,543.44
1 JONES, Evelyn M. (Widow) $582.39 ‐ $582.39
4 LAVALLEY, Theodele (Captain) $958.78 ‐ $958.78
5 MATTHEW, James (Deputy Chief)‐‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $1,337.89 ‐ $1,337.89
4 NEWTON, Gary (Lieutenant) $785.86 ‐ $785.86
5 NICHOLS, Gerald (Battalion Chief) $1,281.28 ‐ $1,281.28
2 PARKS‐ANDREASON, Arlene (Widow) $897.19 ‐ $897.19
5 PHILLIPS, Bruce H. (Deputy Chief) $979.67 ‐ $979.67
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) $500.11 ‐ $500.11
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) $544.32 ‐ $544.32
4 VACCA, Nick (Lieutenant) $822.31 ‐ $822.31
1 WALLS, Camille (Widow) $353.47 ‐ $353.47
1 WEISS, Cheryl (Widow) $1,448.17 ‐ $1,448.17
Total Expenses: Pension/Medical $24,496.63 $0.00 $24,496.63
1 Widows ‐ Disability. Includes a 9.0% CPI increase effective July 1st, 2023 per RCW 41.16.145
2 Widows ‐ Service. Includes a 5.00% COLA Adj. Effective Janaury 1st, 2024.
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 5.00% COLA Adj. Effective Janaury 1st, 2024.
5 Retirees ‐ Service after 1969. Includes a 5.00% COLA Adj. Effective Janaury 1st, 2024.
Total Pension Payments for January, 2023 18,660.26
Total Medical Payments in January, 2023 0.00
Total Expenses: Medical/Pension 18,660.26
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 12/20/2023
AGENDA ITEM #5. b)