HomeMy WebLinkAboutFinal Agenda Packet
AGENDA
Firefighters' Pension Board Meeting
2:00 PM - Thursday, November 14, 2024
Council Conference Room, 7th Floor, City Hall – 1055 S. Grady Way
1. CALL TO ORDER
2. APPROVAL OF MINUTES
a) September 12, 2024
3. CORRESPONDENCE
4. MONTHLY STATEMENTS
a) August 2024
b) September 2024
5. MONTHLY BILLS AND PENSION PAYMENTS
a) October 2024
b) November 2024
6. UNFINISHED BUSINESS
7. NEW BUSINESS
8. ADJOURNMENT
MINUTES
FIREFIGHTERS’ PENSION BOARD
CITY OF RENTON
September 12, 2024
________________________________________________________________________
Armondo Pavone, Mayor
Valerie O’Halloran, Finance Committee Chair
Jason Seth, City Clerk
Ray Barilleaux, Fire Department Representative
Craig Soucy, Fire Department Representative – Absent
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 2:02 p.m. In attendance
were Armondo Pavone, Mayor; Finance Committee Chair Valerie O’Halloran; City
Clerk Jason Seth; and Fire Department Representatives Ray Barilleaux and
alternate member Chuck Christenson. Additionally, Kari Roller and Sean
Hollingsworth, Finance Department Representatives, were in attendance.
MINUTES APPROVAL
MOVED BY BARILLEAUX, SECONDED BY O’HALLORAN, THE PENSION BOARD
APPROVE THE MINUTES OF THE MAY JULY 11, 2024, MEETING. CARRIED.
MONTHLY STATEMENT
The JUNE 2024 and JULY 2024 financial reports were reviewed. Total
cash/investment balance was, as of JULY 31, 2024, $9,504,111.88.
MONTHLY BILLS AND PENSION PAYMENTS
MOVED BY O’HALLORAN, SECONDED BY BARILLEAUX, THE BOARD APPROVE
THE PENSION/MEDICAL PAYMENTS OF $22,074.62 FOR AUGUEST 2024, AND
$22,074.62 FOR SEPTEMBER 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 AUGUST 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 9,504,111.88 9,253,302.21 8,890,882.29 8,924,848.58 9,233,523.24 8,460,708.00
RECEIPTS:
Fire Insurance Premium Tax 0.00 208,792.60 180,000.00 0.00 0.00 199,566.32
Investment Interest 30,844.90 232,006.04 201,161.14 23,649.44 41,612.12 225,000.00
DISBURSEMENTS:
Fire Pension 22,074.62 173,818.69 240,000.00 21,358.15 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 7,400.00 4,000.00 0.00 0.00 13,000.00
ENDING CASH/INV BALANCE $9,512,882.16 $9,512,882.16 $9,027,568 $8,927,139.87 $9,253,302.21 $8,617,799
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $9,054,591.37 $9,043,055.31 $8,396,003.87 $8,395,777.78
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 28,606.93 31,372.71 20,395.89 18,330.69
Vouchers Payable 0.00 0.00 0.00 0.00
TOTAL CASH AND INVESTMENTS $9,512,882.16 $9,504,111.88 $8,927,139.87 $8,924,848.58
The State Investment Pool interest 5.3955% 5.4110% 5.3401% 5.2376%
6.00
6.50
7.00
7.50
8.00
8.50
9.00
9.50
10.00
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Mi
l
l
i
o
n
s
o
f
D
o
l
l
a
r
s
2024 2023
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\Aug 24 Page 1 11/5/2024
AGENDA ITEM #4. a)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF SEPTEMBER 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 9,512,882.16 9,253,302.21 8,890,882.29 8,927,139.87 9,233,523.24 8,460,708.00
RECEIPTS:
Fire Insurance Premium Tax -208,792.60 0.00 180,000.00 0.00 0.00 199,566.32
Investment Interest 34,135.89 232,006.04 201,161.14 23,133.49 41,612.12 225,000.00
DISBURSEMENTS:
Fire Pension 22,074.62 195,893.31 240,000.00 21,358.15 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 7,400.00 4,000.00 13,125.00 0.00 13,000.00
ENDING CASH/INV BALANCE $9,316,150.83 $9,282,014.94 $9,027,568 $8,915,790.21 $9,253,302.21 $8,617,799
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $8,856,602.77 $9,054,591.37 $8,387,053.88 $8,396,003.87
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 29,864.20 28,606.93 17,996.22 20,395.89
Vouchers Payable 0.00 0.00 0.00 0.00
TOTAL CASH AND INVESTMENTS $9,316,150.83 $9,512,882.16 $8,915,790.21 $8,927,139.87
The State Investment Pool interest 5.2278% 5.3955% 5.3854% 5.3401%
6.00
6.50
7.00
7.50
8.00
8.50
9.00
9.50
10.00
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Mi
l
l
i
o
n
s
o
f
D
o
l
l
a
r
s
2024 2023
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\Sep 24 Page 1 11/5/2024
AGENDA ITEM #4. b)
FIREFIGHTERS' PENSION BOARD
PENSION/RETRO PAYMENTS FOR OCTOBER 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 October, 2023 21,358.15
Total Medical Payments in October, 2023 0.00
Total Expenses: Medical/Pension 21,358.15
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 9/26/2024
AGENDA ITEM #5. a)
FIREFIGHTERS' PENSION BOARD
PENSION/RETRO PAYMENTS FOR NOVEMBER 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 November, 2023 21,358.15
Total Medical Payments in November, 2023 0.00
Total Expenses: Medical/Pension 21,358.15
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 10/25/2024
AGENDA ITEM #5. b)