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AGENDA
Firefighters' Pension Board Meeting
11:00 AM - Thursday, July 11, 2024
Council Conference Room, 7th Floor, City Hall – 1055 S. Grady Way
If you would like to attend this meeting remotely through Microsoft Teams, you can do so by
going to:
Meeting ID: 237 231 266 802 Passcode: PpKKPK
1. CALL TO ORDER
2. APPROVAL OF MINUTES
a) May 9, 2024
3. CORRESPONDENCE
4. MONTHLY STATEMENTS
a) April 2024
b) May 2024
5. MONTHLY BILLS AND PENSION PAYMENTS
a) June 2024
b) July 2024
6. UNFINISHED BUSINESS
7. NEW BUSINESS
8. ADJOURNMENT
MINUTES
FIREFIGHTERS’ PENSION BOARD
CITY OF RENTON
May 9, 2024
________________________________________________________________________
Armondo Pavone, Mayor
Valerie O’Halloran, Finance Committee Chair - Absent
Jason Seth, City Clerk
Ray Barilleaux, Fire Department Representative
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 2:03 p.m. In attendance were Armondo Pavone, Mayor; City
Clerk Jason Seth; and Fire Department Representatives Ray Barilleaux and Craig Soucy.
Additionally, Kari Roller, Finance Department Representative, was in attendance.
MINUTES APPROVAL
MOVED BY SOUCY, SECONDED BY BARILLEAUX, THE PENSION BOARD APPROVE THE MINUTES
OF THE APRIL 2024 MEETING. CARRIED.
MONTHLY STATEMENT
The February 2024 and March 2024 financial reports were reviewed. Total cash/investment
balance was, as of March 31, 2024, $9,262,789.32.
MONTHLY BILLS AND PENSION PAYMENTS
MOVED BY BARILLEAUX, SECONDED BY SOUCY, THE BOARD APPROVE THE PENSION/MEDICAL
PAYMENTS OF $18,744.24 FOR APRIL 2024, AND $18,744.24 FOR MAY 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 APRIL 30, 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 9,262,789.32 9,253,302.21 8,890,882.29 8,705,803.92 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 28,759.89 111,736.89 200,000.00 21,438.46 41,612.12 225,000.00
DISBURSEMENTS:
Fire Pension 18,744.24 92,234.13 240,000.00 16,046.55 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 $9,272,804.97 $9,272,804.97 $9,026,407 $8,711,195.83 $9,253,302.21 $8,617,799
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $8,818,588.75 $8,810,187.68 $8,187,052.67 $8,183,662.24
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 24,532.36 22,917.78 13,403.05 11,401.57
Vouchers Payable 0.00 0.00 0.00 0.00
TOTAL CASH AND INVESTMENTS $9,272,804.97 $9,262,789.32 $8,711,195.83 $8,705,803.92
The State Investment Pool interest 5.3975% 5.4066% 4.9273% 4.7698%
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H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\Apr 24 Page 1 7/9/2024
AGENDA ITEM #4. a)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF MAY 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 9,272,804.97 9,253,302.21 8,890,882.29 8,711,195.83 9,233,523.24 8,460,708.00
RECEIPTS:
Fire Insurance Premium Tax 208,792.60 208,792.60 180,000.00 199,566.32 0.00 199,566.32
Investment Interest 29,537.06 141,273.95 200,000.00 22,757.19 41,612.12 225,000.00
DISBURSEMENTS:
Fire Pension 18,744.24 110,978.37 240,000.00 16,377.87 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 7,400.00 7,400.00 4,000.00 0.00 0.00 13,000.00
ENDING CASH/INV BALANCE $9,484,990.39 $9,484,990.39 $9,026,407 $8,917,141.47 $9,253,302.21 $8,617,799
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $9,024,902.09 $8,818,588.75 $8,387,621.91 $8,187,052.67
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 30,404.44 24,532.36 18,779.45 13,403.05
Vouchers Payable 0.00 0.00 0.00 0.00
TOTAL CASH AND INVESTMENTS $9,484,990.39 $9,272,804.97 $8,917,141.47 $8,711,195.83
The State Investment Pool interest 5.3986% 5.3975% 5.1498% 4.9273%
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H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\May 24 Page 1 7/9/2024
AGENDA ITEM #4. b)
FIREFIGHTERS' PENSION BOARD
PENSION/RETRO PAYMENTS FOR JUNE 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)‐‐ $0.00
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 $18,691.08 $0.00 $18,691.08
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 June, 2023 16,377.87
Total Medical Payments in June, 2023 0.00
Total Expenses: Medical/Pension 16,377.87
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 6/4/2024
AGENDA ITEM #5. a)
FIREFIGHTERS' PENSION BOARD
PENSION/RETRO PAYMENTS FOR JULY 2024
Recipient Pension Amt Retro Total
4 ANKENY, Charlie (Captain) $306.84 ‐ $306.84
5 BARILLEAUX, Ray (Battalion Chief)‐‐ $0.00
4 CHRISTENSON, Chuck (Firefighter) $481.37 ‐ $481.37
1 GOODWIN, Kathryn Lorayne (Widow) $1,645.22 ‐ $1,645.22
1 JONES, Evelyn M. (Widow) $628.56 ‐ $628.56
4 LAVALLEY, Theodele (Captain) $650.17 ‐ $650.17
5 MATTHEW, James (Deputy Chief)‐‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $1,434.34 ‐ $1,434.34
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 $898.15 ‐ $898.15
1 PRINGLE, S. Joan (Widow) $4,012.34 ‐ $4,012.34
3 RIGGLE, Arduth S. (Widow) $128.99 ‐ $128.99
4 RUPPRECHT, Jim (Firefighter D Step) $255.00 ‐ $255.00
1 SMITH, Shirley (Widow) $627.19 ‐ $627.19
1 STROM, Doris (Widow) $5,086.84 ‐ $5,086.84
1 TODD, Tess R. (Widow) $707.28 ‐ $707.28
2 TONDA, Lila Jean (Widow) $134.33 ‐ $134.33
4 VACCA, Nick (Lieutenant) $560.29 ‐ $560.29
1 WALLS, Camille (Widow) $386.79 ‐ $386.79
1 WEISS, Cheryl (Widow) $1,551.17 ‐ $1,551.17
Total Expenses: Pension/Medical $22,074.62 $0.00 $22,074.62
1 Widows ‐ Disability. Includes a 5.8% CPI increase effective July 1st, 2024 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 5.8% CPI increase effective July 1st, 2024 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 July, 2023 21,358.15
Total Medical Payments in July, 2023 0.00
Total Expenses: Medical/Pension 21,358.15
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 7/2/2024
AGENDA ITEM #5. b)