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AGENDA
Firefighters' Pension Board Meeting
2:00 PM - Thursday, January 16, 2025
Council Conference Room, 7th Floor, City Hall – 1055 S. Grady Way
1. CALL TO ORDER
2. APPROVAL OF MINUTES
a) November 14, 2024
3. CORRESPONDENCE
4. MONTHLY STATEMENTS
a) October 2024
b) November 2024
5. MONTHLY BILLS AND PENSION PAYMENTS
a) December 2024
b) January 2025
6. UNFINISHED BUSINESS
a) Follow-Up to Election Process Review
7. NEW BUSINESS
8. ADJOURNMENT
MINUTES
FIREFIGHTERS’ PENSION BOARD
CITY OF RENTON
November 14, 2024
________________________________________________________________________
Armondo Pavone, Mayor - absent
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 – absent
Nate Malone, Budget & Accounting Manager
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 2:05 p.m. In attendance were 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 Nate Malone, Finance Department Representatives,
were in attendance.
MINUTES APPROVAL
MOVED BY O’HALLORAN, SECONDED BY BARILLEAUX, THE PENSION BOARD
APPROVE THE MINUTES OF THE MAY SEPTEMBER 12, 2024, MEETING. CARRIED.
MONTHLY STATEMENT
The AUGUST 2024 and SEPTEMBER 2024 financial reports were reviewed. Total
cash/investment balance was, as of AUGUST 31, 2024, $9,512,882.16.
MONTHLY BILLS AND PENSION PAYMENTS
MOVED BY BARILLEAUX, SECONDED BY CHRISTENSON, THE BOARD APPROVE
THE PENSION/MEDICAL PAYMENTS OF $22,074.62 FOR OCTOBER 2024, AND
$22,074.62 FOR NOVEMBER 2024, TO BE PAID BY THE FIREFIGHTERS’ PENSION
FUND. CARRIED.
NEW BUSINESS
Mr. Barilleaux explained that there has been some discussion from the Renton
Regional Fire Authority (RFA) about how and why they are conducting elections for
firefighters who wish to serve on this board. Discussion ensued about this topic
including what the interlocal agreement between Renton and the RFA states, state
laws germane to the Firefighters’ Pension Board, city code, and other related
issues.
AGENDA ITEM #2. a)
11/14/2024 Minutes
Firefighters’ Pension Board
Page 2 of 2
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 OCTOBER 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 9,316,150.83 9,253,302.21 8,890,882.29 8,915,790.21 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 28,445.97 294,587.90 201,161.14 24,166.21 41,612.12 225,000.00
DISBURSEMENTS:
Fire Pension 22,074.62 217,967.93 240,000.00 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 $9,322,522.18 $9,322,522.18 $9,027,568 $8,918,598.27 $9,253,302.21 $8,617,799
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $8,854,288.99 $8,856,602.77 $8,388,628.87 $8,387,053.88
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 38,549.33 29,864.20 19,229.29 17,996.22
Vouchers Payable 0.00 0.00 0.00 0.00
TOTAL CASH AND INVESTMENTS $9,322,522.18 $9,316,150.83 $8,918,598.27 $8,915,790.21
The State Investment Pool interest 4.9335% 5.2278% 5.3975% 5.3854%
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AGENDA ITEM #4. a)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF NOVEMBER 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 9,322,522.18 9,253,302.21 8,890,882.29 8,918,598.27 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 328,586.38 623,174.28 201,161.14 336,283.12 41,612.12 225,000.00
DISBURSEMENTS:
Fire Pension 22,074.62 240,042.55 240,000.00 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 $9,629,033.94 $9,629,033.94 $9,027,568 $9,233,523.24 $9,253,302.21 $8,617,799
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $9,230,565.33 $8,854,288.99 $8,782,474.96 $8,388,628.87
INVESTMENTS:
Federal National Mortgage Assn 0.00 0.00 0.00 0.00
Treasury Strips & Zero Coupon Bonds 356,701.36 429,683.86 429,683.86 510,740.11
Interest Receivable 41,767.25 38,549.33 21,364.42 19,229.29
Vouchers Payable 0.00 0.00 0.00 0.00
TOTAL CASH AND INVESTMENTS $9,629,033.94 $9,322,522.18 $9,233,523.24 $8,918,598.27
The State Investment Pool interest 4.7266% 4.9335% 5.4347% 5.3975%
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AGENDA ITEM #4. b)
FIREFIGHTERS' PENSION BOARD
PENSION/RETRO PAYMENTS FOR DECEMBER 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
5 PHILLIPS, Bruce H. (Deputy Chief) $533.11 - $533.11
1 PRINGLE, Barb (Widow) $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 $21,469.11 $0.00 $21,469.11
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 December, 2023 21,358.15
Total Medical Payments in December, 2023 0.00
Total Expenses: Medical/Pension 21,358.15
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 12/2/2024
AGENDA ITEM #5. a)
FIREFIGHTERS' PENSION BOARD
PENSION/RETRO PAYMENTS FOR JANUARY 2025
Recipient Pension Amt Retro Total
4 ANKENY, Charlie (Captain) $634.34 - $634.34
5 BARILLEAUX, Ray (Battalion Chief) - - $0.00
4 CHRISTENSON, Chuck (Firefighter) $764.33 - $764.33
1 GOODWIN, Kathryn Lorayne (Widow) $1,645.22 - $1,645.22
1 JONES, Evelyn M. (Widow) $628.56 - $628.56
4 LAVALLEY, Theodele (Captain) $977.67 - $977.67
5 MATTHEW, James (Deputy Chief) - - $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $1,434.34 - $1,434.34
4 NEWTON, Gary (Lieutenant) $798.82 - $798.82
5 NICHOLS, Gerald (Battalion Chief) $1,312.81 - $1,312.81
5 PHILLIPS, Bruce H. (Deputy Chief) $986.71 - $986.71
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) $502.00 - $502.00
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) $532.73 - $532.73
4 VACCA, Nick (Lieutenant) $838.79 - $838.79
1 WALLS, Camille (Widow) $386.79 - $386.79
1 WEISS, Cheryl (Widow) $1,551.17 - $1,551.17
Total Expenses: Pension/Medical $24,455.07 $0.00 $24,455.07
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, 2025.
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, 2025.
5 Retirees - Service after 1969. Includes a 5.00% COLA Adj. Effective Janaury 1st, 2025.
Total Pension Payments for January, 2024 24,496.63
Total Medical Payments in January, 2024 0.00
Total Expenses: Medical/Pension 24,496.63
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 1/2/2025
AGENDA ITEM #5. b)