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AGENDA
Firefighters' Pension Board Meeting
2:00 PM - Thursday, May 9, 2024
Council Conference Room, 7th Floor, City Hall – 1055 S. Grady Way
1. CALL TO ORDER
2. APPROVAL OF MINUTES
a) April 11, 2024
3. CORRESPONDENCE
4. MONTHLY STATEMENTS
a) February 2024
b) March 2024
5. MONTHLY BILLS AND PENSION PAYMENTS
a) April 2024
b) May 2024
6. UNFINISHED BUSINESS
7. NEW BUSINESS
8. ADJOURNMENT
MINUTES
FIREFIGHTERS’ PENSION BOARD
CITY OF RENTON
APRIL 11, 2024
________________________________________________________________________
Armondo Pavone, Mayor - Absent
Valerie O’Halloran, Finance Committee Chair
Jason Seth, City Clerk
Ray Barilleaux, Fire Department Representative - Absent
Craig Soucy, 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 Jason Seth, City
Clerk and Secretary of the Board at 2:00 p.m. In attendance were Valerie O’Halloran, Finance
Committee Chair; City Clerk Jason Seth; and Fire Department Representative Craig Soucy and
alternate Chuck Christenson. Additionally, Kari Roller and Sean Hollingsworth, Finance
Department Representatives, were in attendance.
MINUTES APPROVAL
MOVED BY O’HALLORAN, SECONDED BY CHRISTENSON, THE PENSION BOARD APPROVE THE
MINUTES OF THE JANUARY 2024 MEETING. CARRIED.
MONTHLY STATEMENT
The December 2023 and January 2024 financial reports were reviewed. Total cash/investment
balance was, as of January 31, 2024, $9,258,495.40.
MONTHLY BILLS AND PENSION PAYMENTS
MOVED BY CHRISTENSON, SECONDED BY O’HALLORAN, THE BOARD APPROVE THE
PENSION/MEDICAL PAYMENTS OF $24,496.63 FOR FEBRUARY 2024, AND $24,496.63 FOR
MARCH 2024, TO BE PAID BY THE FIREFIGHTERS’ PENSION FUND. CARRIED.
ADJOURNMENT
City Clerk Seth adjourned the meeting at 2:09 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 FEBRUARY 29, 2024
Firefighter's Pension Fund Comparison of Cash and Investment Activity
CURRENT 2024 2024 LAST YEAR 2023 2023
ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET
BEGINNING CASH/INV BALANCE 9,258,495.40 9,253,302.21 8,890,882.29 8,730,442.59 9,233,523.24 8,460,708.00
RECEIPTS:
Fire Insurance Premium Tax 0.00 0.00 180,000.00 0.00 0.00 199,566.32
Investment Interest 23,886.99 53,576.81 200,000.00 14,809.34 41,612.12 225,000.00
DISBURSEMENTS:
Fire Pension 24,496.63 48,993.26 240,000.00 32,693.66 21,358.15 254,000.00
Fire Pension Medical 0.00 0.00 0.00 0.00 0.00 0.00
Office/Operating Supplies 0.00 0.00 475.00 0.00 475.00 475.00
Actuarial/Firemen's Pens 0.00 0.00 4,000.00 0.00 0.00 13,000.00
ENDING CASH/INV BALANCE $9,257,885.76 $9,257,885.76 $9,026,407 $8,712,558.27 $9,253,302.21 $8,617,799
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $8,804,964.70 $8,807,191.90 $8,191,095.30 $8,208,615.04
INVESTMENTS:
Federal National Mortgage Assn 0.00 0.00 0.00 0.00
Treasury Strips & Zero Coupon Bonds 429,683.86 429,683.86 510,740.11 510,740.11
Interest Receivable 23,237.20 21,619.64 10,722.86 11,087.44
Vouchers Payable 0.00 0.00 0.00 0.00
TOTAL CASH AND INVESTMENTS $9,257,885.76 $9,258,495.40 $8,712,558.27 $8,730,442.59
The State Investment Pool interest 5.4132% 5.4220% 4.6091% 4.3952%
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AGENDA ITEM #4. a)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF MARCH 31, 2024
Firefighter's Pension Fund Comparison of Cash and Investment Activity
CURRENT 2024 2024 LAST YEAR 2023 2023
ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET
BEGINNING CASH/INV BALANCE 9,257,885.76 9,253,302.21 8,890,882.29 8,712,558.27 9,233,523.24 8,460,708.00
RECEIPTS:
Fire Insurance Premium Tax 0.00 0.00 180,000.00 0.00 0.00 199,566.32
Investment Interest 29,400.19 82,977.00 200,000.00 18,091.29 41,612.12 225,000.00
DISBURSEMENTS:
Fire Pension 24,496.63 73,489.89 240,000.00 24,845.64 21,358.15 254,000.00
Fire Pension Medical 0.00 0.00 0.00 0.00 0.00 0.00
Office/Operating Supplies 0.00 0.00 475.00 0.00 475.00 475.00
Actuarial/Firemen's Pens 0.00 0.00 4,000.00 0.00 0.00 13,000.00
ENDING CASH/INV BALANCE $9,262,789.32 $9,262,789.32 $9,026,407 $8,705,803.92 $9,253,302.21 $8,617,799
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $8,810,187.68 $8,804,964.70 $8,183,662.24 $8,191,095.30
INVESTMENTS:
Federal National Mortgage Assn 0.00 0.00 0.00 0.00
Treasury Strips & Zero Coupon Bonds 429,683.86 429,683.86 510,740.11 510,740.11
Interest Receivable 22,917.78 23,237.20 11,401.57 10,722.86
Vouchers Payable 0.00 0.00 0.00 0.00
TOTAL CASH AND INVESTMENTS $9,262,789.32 $9,257,885.76 $8,705,803.92 $8,712,558.27
The State Investment Pool interest 5.4066% 5.4132% 4.7698% 4.6091%
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H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\Mar 24 Page 1 5/3/2024
AGENDA ITEM #4. b)
FIREFIGHTERS' PENSION BOARD
PENSION/RETRO PAYMENTS FOR APRIL 2024
Recipient Pension Amt Retro Total
4 ANKENY, Charlie (Captain) $306.84 ‐ $306.84
5 BARILLEAUX, Ray (Battalion Chief)‐‐ $0.00
1 BERGMAN, Claudette (Widow) $53.16 ‐ $53.16
4 CHRISTENSON, Chuck (Firefighter) $481.37 ‐ $481.37
1 GOODWIN, Kathryn Lorayne (Widow) $1,301.90 ‐ $1,301.90
1 JONES, Evelyn M. (Widow) $338.23 ‐ $338.23
4 LAVALLEY, Theodele (Captain) $650.17 ‐ $650.17
5 MATTHEW, James (Deputy Chief)‐‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $966.37 ‐ $966.37
4 NEWTON, Gary (Lieutenant) $506.32 ‐ $506.32
5 NICHOLS, Gerald (Battalion Chief) $934.81 ‐ $934.81
2 PARKS‐ANDREASON, Arlene (Widow) $605.51 ‐ $605.51
5 PHILLIPS, Bruce H. (Deputy Chief) $533.11 ‐ $533.11
1 PRINGLE, Barb $530.51 ‐ $530.51
1 PRINGLE, S. Joan (Widow) $3,792.38 ‐ $3,792.38
3 RIGGLE, Arduth S. (Widow)‐‐ $0.00
4 RUPPRECHT, Jim (Firefighter D Step) $255.00 ‐ $255.00
1 SMITH, Shirley (Widow) $365.41 ‐ $365.41
1 STROM, Doris (Widow) $4,807.98 ‐ $4,807.98
1 TODD, Tess R. (Widow) $446.11 ‐ $446.11
2 TONDA, Lila Jean (Widow) $134.33 ‐ $134.33
4 VACCA, Nick (Lieutenant) $560.29 ‐ $560.29
1 WALLS, Camille (Widow) $100.94 ‐ $100.94
1 WEISS, Cheryl (Widow) $1,073.50 ‐ $1,073.50
Total Expenses: Pension/Medical $18,744.24 $0.00 $18,744.24
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 April, 2023 16,377.87
Total Medical Payments in April, 2023 0.00
Total Expenses: Medical/Pension 16,377.87
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 4/3/2024
AGENDA ITEM #5. a)
FIREFIGHTERS' PENSION BOARD
PENSION/RETRO PAYMENTS FOR MAY 2024
Recipient Pension Amt Retro Total
4 ANKENY, Charlie (Captain) $306.84 ‐ $306.84
5 BARILLEAUX, Ray (Battalion Chief)‐‐ $0.00
1 BERGMAN, Claudette (Widow) $53.16 ‐ $53.16
4 CHRISTENSON, Chuck (Firefighter) $481.37 ‐ $481.37
1 GOODWIN, Kathryn Lorayne (Widow) $1,301.90 ‐ $1,301.90
1 JONES, Evelyn M. (Widow) $338.23 ‐ $338.23
4 LAVALLEY, Theodele (Captain) $650.17 ‐ $650.17
5 MATTHEW, James (Deputy Chief)‐‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $966.37 ‐ $966.37
4 NEWTON, Gary (Lieutenant) $506.32 ‐ $506.32
5 NICHOLS, Gerald (Battalion Chief) $934.81 ‐ $934.81
2 PARKS‐ANDREASON, Arlene (Widow) $605.51 ‐ $605.51
5 PHILLIPS, Bruce H. (Deputy Chief) $533.11 ‐ $533.11
1 PRINGLE, Barb $530.51 ‐ $530.51
1 PRINGLE, S. Joan (Widow) $3,792.38 ‐ $3,792.38
3 RIGGLE, Arduth S. (Widow)‐‐ $0.00
4 RUPPRECHT, Jim (Firefighter D Step) $255.00 ‐ $255.00
1 SMITH, Shirley (Widow) $365.41 ‐ $365.41
1 STROM, Doris (Widow) $4,807.98 ‐ $4,807.98
1 TODD, Tess R. (Widow) $446.11 ‐ $446.11
2 TONDA, Lila Jean (Widow) $134.33 ‐ $134.33
4 VACCA, Nick (Lieutenant) $560.29 ‐ $560.29
1 WALLS, Camille (Widow) $100.94 ‐ $100.94
1 WEISS, Cheryl (Widow) $1,073.50 ‐ $1,073.50
Total Expenses: Pension/Medical $18,744.24 $0.00 $18,744.24
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 May, 2023 16,377.87
Total Medical Payments in May, 2023 0.00
Total Expenses: Medical/Pension 16,377.87
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 4/30/2024
AGENDA ITEM #5. b)