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Home My WebLink AboutFinal Agenda Packet AGENDA Firefighters' Pension Board Meeting 2:00 PM - Thursday, November 20, 2025 Council Conference Room, 7th Floor, City Hall – 1055 S. Grady Way 1. CALL TO ORDER 2. APPROVAL OF MINUTES a) September 18, 2025 3. CORRESPONDENCE 4. MONTHLY STATEMENTS a) August 2025 b) September 2025 5. MONTHLY BILLS AND PENSION PAYMENTS a) October 2025 b) November 2025 6. UNFINISHED BUSINESS 7. NEW BUSINESS a) Election Results 8. ADJOURNMENT MINUTES FIREFIGHTERS’ PENSION BOARD CITY OF RENTON SEPTEMBER 18, 2025 ________________________________________________________________________ Armondo Pavone, Mayor Ruth Pérez, Finance Committee Chair Jason Seth, City Clerk Ray Barilleaux, Fire Department Representative James Matthew, Fire Department Representative Chuck Christenson, Alternate Fire Department Representative Nate Malone, Finance Representative Duncan McKelvey, Finance Representative - Absent Kari Roller, Finance Administrator - Absent Alex Tuttle, Senior Assistant City Attorney - Absent ________________________________________________________________________ The regular meeting of the Firefighters’ Pension Board was called to order by Jason Seth, City Clerk and Secretary of the Board at 2:04 p.m. In attendance were Mayor Armondo Pavone, Finance Committee Chair Ruth Pérez; City Clerk Jason Seth; and Fire Department Representatives Jim Matthew, Ray Barilleaux, and alternate member Chuck Christenson. Additionally, Nate Malone, Finance Department Representative was in attendance. MINUTES APPROVAL MOVED BY BARILLEAUX, SECONDED BY MATTHEW, THE PENSION BOARD APPROVE THE MINUTES OF THE JULY 17, 2025, MEETING. CARRIED. MONTHLY STATEMENT The JUNE 2025 and JULY 2025 financial reports were reviewed. Total cash/investment balance was, as of JULY 31, 2025, $9,672,499.92. MONTHLY BILLS AND PENSION PAYMENTS MOVED BY MATTHEW, SECONDED BY BARILLEAUX, THE BOARD APPROVE THE PENSION/MEDICAL PAYMENTS OF $22,882.32 FOR AUGUST 2025, AND $22,882.32 FOR SEPTEMBER 2025, TO BE PAID BY THE FIREFIGHTERS’ PENSION FUND. CARRIED. NEW BUSINESS City Clerk Seth reviewed the 2026 ballot and nomination forms. It was then discovered that forms had been sent to members at the beginning of September. Mr. Malone noted that he would investigate the issue, and that the city will ensure all members received their nomination and ballot forms. AGENDA ITEM #2. a) ADJOURNMENT MOVED BY PAVONE, SECONDED BY PEREZ, THE MEETING BE ADJOURNED. CARRIED. Time: 2:10 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, 2025 Firefighter's Pension Fund Comparison of Cash and Investment Activity CURRENT 2025 2025 LAST YEAR 2024 2024 ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE 9,672,499.92 9,636,751.56 9,636,751.56 9,504,111.88 9,253,302.21 9,253,302.21 RECEIPTS: Fire Insurance Premium Tax * 0.00 0.00 0.00 0.00 0.00 0.00 Investment Interest 856,591.35 1,050,697.52 1,500,000.00 30,844.90 652,361.01 200,000.00 DISBURSEMENTS: Fire Pension 22,882.32 181,240.13 310,000.00 22,074.62 261,511.66 315,000.00 Office/Operating Supplies 0.00 0.00 475.00 0.00 0.00 475.00 Actuarial/Firemen's Pens 13,550.00 13,550.00 15,000.00 0.00 7,400.00 7,400.00 ENDING CASH/INV BALANCE $10,492,658.95 $10,492,658.95 $10,811,277 $9,512,882.16 $9,636,751.56 $9,130,427 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $10,461,157.52 $9,267,453.68 $9,054,591.37 $9,043,055.31 INVESTMENTS: Treasury Strips & Zero Coupon Bonds 0.00 356,701.36 429,683.86 429,683.86 Interest Receivable 45,051.43 48,344.88 28,606.93 31,372.71 Vouchers Payable (13,550.00) 0.00 0.00 0.00 TOTAL CASH AND INVESTMENTS $10,492,658.95 $9,672,499.92 $9,512,882.16 $9,504,111.88 The State Investment Pool interest 4.3818% 4.3915% 5.3955% 5.4110% Note: * YTD Fire Insurance Premium Tax was moved from the Pension Fund to the Retiree Healthcare Fund because the pension is fully funded 7.00 7.50 8.00 8.50 9.00 9.50 10.00 10.50 11.00 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 2025 2024 H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\Aug 25 Page 1 11/7/2025 AGENDA ITEM #4. a) CITY OF RENTON - FIREFIGHTER'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF SEPTEMBER 30, 2025 Firefighter's Pension Fund Comparison of Cash and Investment Activity CURRENT 2025 2025 LAST YEAR 2024 2024 ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE 10,492,658.95 9,636,751.56 9,636,751.56 9,512,882.16 9,253,302.21 9,253,302.21 RECEIPTS: Fire Insurance Premium Tax * 0.00 0.00 0.00 (208,792.60) 0.00 0.00 Investment Interest 29,974.17 1,080,671.69 1,500,000.00 34,135.89 652,361.01 200,000.00 DISBURSEMENTS: Fire Pension 22,882.32 204,122.45 310,000.00 22,074.62 261,511.66 315,000.00 Office/Operating Supplies 0.00 0.00 475.00 0.00 0.00 475.00 Actuarial/Firemen's Pens 0.00 13,550.00 15,000.00 0.00 7,400.00 7,400.00 ENDING CASH/INV BALANCE $10,499,750.80 $10,499,750.80 $10,811,277 $9,316,150.83 $9,636,751.56 $9,130,427 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $10,454,173.19 $10,461,157.52 $8,856,602.77 $9,054,591.37 INVESTMENTS: Treasury Strips & Zero Coupon Bonds 0.00 0.00 429,683.86 429,683.86 Interest Receivable 45,577.61 45,051.43 29,864.20 28,606.93 Vouchers Payable 0.00 (13,550.00) 0.00 0.00 TOTAL CASH AND INVESTMENTS $10,499,750.80 $10,492,658.95 $9,316,150.83 $9,512,882.16 The State Investment Pool interest 4.2906% 4.3818% 5.2278% 5.3955% Note: * YTD Fire Insurance Premium Tax was moved from the Pension Fund to the Retiree Healthcare Fund because the pension is fully funded 7.00 7.50 8.00 8.50 9.00 9.50 10.00 10.50 11.00 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 2025 2024 H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\Sep 25 Page 1 11/7/2025 AGENDA ITEM #4. b) FIREFIGHTERS' PENSION BOARD PENSION/RETRO PAYMENTS FOR OCTOBER 2025 Recipient Pension Amt Retro Total 4 ANKENY (Captain) $408.98 - $408.98 5 BARILLEAUX (Battalion Chief) - - $0.00 4 CHRISTENSON (Firefighter) $577.35 - $577.35 1 GOODWIN (Widow) $1,710.26 - $1,710.26 1 JONES (Widow) $656.02 - $656.02 4 LAVALLEY (Captain) $764.70 - $764.70 5 MATTHEW (Deputy Chief) - - $0.00 1 MC LAUGHLIN (Widow) $1,493.81 - $1,493.81 4 NEWTON (Lieutenant) $605.91 - $605.91 5 NICHOLS (Battalion Chief) $1,073.71 - $1,073.71 5 PHILLIPS (Deputy Chief) $678.54 - $678.54 1 PRINGLE $936.62 - $936.62 1 PRINGLE (Widow) $4,160.80 - $4,160.80 3 RIGGLE (Widow) $138.03 - $138.03 4 RUPPRECHT (Firefighter D Step) $332.85 - $332.85 1 SMITH (Widow) $654.14 - $654.14 1 STROM (Widow) $5,275.05 - $5,275.05 1 TODD (Widow) $737.10 - $737.10 4 VACCA (Lieutenant) $657.98 - $657.98 1 WALLS (Widow)$405.45 - $405.45 1 WEISS (Widow) $1,615.02 - $1,615.02 Total Expenses: Pension/Medical $22,882.32 $0.00 $22,882.32 1 Widows - Disability. Includes a 3.70% CPI increase effective July 1st, 2025 per RCW 41.16.145 2 Widows - Service. Includes a 5.00% COLA Adj. Effective January 1st, 2025. 3 Widows - Service prior to 1969. Includes a 3.70% CPI increase effective July 1st, 2025 per RCW 41.16.145 4 Retirees - Disability after 1961. Includes a 5.00% COLA Adj. Effective January 1st, 2025. 5 Retirees - Service after 1969. Includes a 5.00% COLA Adj. Effective January 1st, 2025. Total Pension Payments for October, 2024 22,074.62 Total Medical Payments in October, 2024 0.00 Total Expenses: Medical/Pension 22,074.62 Prior Year Pension/Medical Payments: 4_SUMMARY 9/29/2025 AGENDA ITEM #5. a) FIREFIGHTERS' PENSION BOARD PENSION/RETRO PAYMENTS FOR NOVEMBER 2025 Recipient Pension Amt Retro Total 4 ANKENY (Captain) $408.98 - $408.98 5 BARILLEAUX (Battalion Chief) - - $0.00 4 CHRISTENSON (Firefighter) $577.35 - $577.35 1 GOODWIN (Widow) $1,710.26 - $1,710.26 1 JONES (Widow) $656.02 - $656.02 4 LAVALLEY (Captain) $764.70 - $764.70 5 MATTHEW (Deputy Chief) - - $0.00 1 MC LAUGHLIN (Widow) $1,493.81 - $1,493.81 4 NEWTON (Lieutenant) $605.91 - $605.91 5 NICHOLS (Battalion Chief) $1,073.71 - $1,073.71 5 PHILLIPS (Deputy Chief) $678.54 - $678.54 1 PRINGLE $936.62 - $936.62 1 PRINGLE (Widow) $4,160.80 - $4,160.80 3 RIGGLE (Widow) $138.03 - $138.03 4 RUPPRECHT (Firefighter D Step) $332.85 - $332.85 1 SMITH (Widow) $654.14 - $654.14 1 STROM (Widow) $5,275.05 - $5,275.05 1 TODD (Widow) $737.10 - $737.10 4 VACCA (Lieutenant) $657.98 - $657.98 1 WALLS (Widow)$405.45 - $405.45 1 WEISS (Widow) $1,615.02 - $1,615.02 Total Expenses: Pension/Medical $22,882.32 $0.00 $22,882.32 1 Widows - Disability. Includes a 3.70% CPI increase effective July 1st, 2025 per RCW 41.16.145 2 Widows - Service. Includes a 5.00% COLA Adj. Effective January 1st, 2025. 3 Widows - Service prior to 1969. Includes a 3.70% CPI increase effective July 1st, 2025 per RCW 41.16.145 4 Retirees - Disability after 1961. Includes a 5.00% COLA Adj. Effective January 1st, 2025. 5 Retirees - Service after 1969. Includes a 5.00% COLA Adj. Effective January 1st, 2025. Total Pension Payments for November, 2024 22,074.62 Total Medical Payments in November, 2024 0.00 Total Expenses: Medical/Pension 22,074.62 Prior Year Pension/Medical Payments: 4_SUMMARY 10/30/2025 AGENDA ITEM #5. b)