The URL can be used to link to this page

Home My WebLink AboutFinal Agenda Packet-� CITY OF enton AGENDA Firefighters' Pension Board Meeting 2:00 PM - Thursday, May 16, 2019 Mayor's Conference Room, 7th Floor, City Hall — 1055 S. Grady Way 1. CALL TO ORDER 2. APPROVAL OF MINUTES a) March 21, 2019 3. CORRESPONDENCE 4. MONTHLY STATEMENTS a) March 2019 b) April 2019 S. MONTHLY BILLS AND PENSION PAYMENTS a) April 2019 b) May 2019 6. UNFINISHED BUSINESS a) Investments Options - Jamie Thomas 7. NEW BUSINESS 8. ADJOURNMENT AGENDA ITEM #2. a) MINUTES FIREFIGHTERS' PENSION BOARD CITY OF RENTON March 21, 2019 Denis Law, Mayor Armondo Pavone, Finance Committee Chair Jason Seth, City Clerk — ABSENT Ray Barilleaux, Fire Department Representative Bruce Phillips, Fire Department Representative — ABSENT Chuck Christenson, Alternate Fire Department Representative —ABSENT Megan Gregor, Deputy City Clerk Sean Hollingsworth, Finance Representative The regular meeting of the Firefighters' Pension Board was called to order by Mayor Denis Law, at 2:03 p.m. in the Mayor's office, 7th floor of Renton City Hall. In attendance were Board members Fire Department Representative Ray Barilleaux, City Council Finance Committee Chair Armondo Pavone, and Mayor Denis Law. Additionally, Megan Gregor from the City Clerk's Division and Sean Hollingsworth from the Fiscal Services Division were in attendance. MINUTES APPROVAL MOVED BY BARILLEAUX, SECONDED BY PAVONE, THE PENSION BOARD APPROVE THE MINUTES OF THE JANUARY 17, 2019 MEETING. CARRIED. MONTHLY STATEMENT The January 31, 2019 and February 28, 2019 financial reports were reviewed. Total cash/investment balance was, as of February 28, 2019, $7,125,086.44. MONTHLY BILLS AND PENSION PAYMENTS MOVED BY BARILLEAUX, SECONDED BY PAVONE, THE BOARD APPROVE THE PENSION/MEDICAL PAYMENTS OF $17,761.25 FOR FEBRUARY 2019 AND $17,761.25 FOR MARCH 2O19, TO BE PAID BY THE FIREFIGHTERS' PENSION FUND. CARRIED. UNFINISHED BUSINESS Ray Barilleaux requested that Fiscal Services Director Jamie Thomas attend the next meeting and present investments options to the board for review. ADJOURNMENT MOVED BY PAVONE, SECONDED BY BARILLEAUX, THE FIREFIGHTERS' PENSION BOARD ADJOURN. CARRIED. TIME: 2:11P.M. Aiasonth, City Clerk ry, Firefighters' Pension Board AGENDA ITEM #4. a) 6.00 ,61W.. 25.25 5.00 CITY OF RENTON - FIREFIGHTER'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF MARCH 31, 2019 Firefighter's Pension Fund Comparison of Cash and Investment Activity ■2019 02018 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec CURRENT 2018 2019 LAST YEAR 2018 2018 ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE 7,124,510.09 7,146,982.49 6,100,422.00 5,800,312.91 5,832,896.70 5,832,897.00 RECEIPTS: Fire Insurance Premium Tax 0.00 0.00 143,000.00 0.00 154,275.27 143,000.00 Investment Interest 6,576.59 19,626.69 325,000.00 5,409.28 1,352,434.70 325,000.00 DISBURSEMENTS: Fire Pension 17,761.25 53,283.75 200,000.00 17,180.99 192,624.18 200,000.00 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 0.00 475.00 Actuarial/Firemen's Pens 0.00 0.00 10,000.00 0.00 0.00 0.00 ENDING CASH/INV BALANCE $7,113,325.43 $7,113,325.43 $6,357,947 $5,788,541.20 $7,146,982.49 $6,100,422 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $5,323,069.50 $5,335,916.86 $3,499,449.81 $3,511,734.31 INVESTMENTS: Federal National Mortgage Assn 852,855.63 852,855.63 852,855.63 852,855.63 Treasury Strips & Zero Coupon Bonds 924,554.08 924,554.08 1,422,683.08 1,422,683.08 Interest Receivable 12,846.22 11,759.87 13,552.68 13,039.89 TOTAL CASH AND INVESTMENTS $7,113,325.43 $7,125,086.44 $5,788,541.20 $5,800,312.91 The State Investment Pool interest 2.5230% 2.5131% 1.5755% 1.4731% H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\Mar 19 Page 1 5/13/2019 AGENDA ITEM #4. b) 6.00 ,61W.. 25.25 5.00 CITY OF RENTON - FIREFIGHTER'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF APRIL 30, 2019 Firefighter's Pension Fund Comparison of Cash and Investment Activity ■2019 02018 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec CURRENT 2018 2019 LAST YEAR 2018 2018 ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE 7,113,325.43 7,146,982.49 6,100,422.00 5,788,541.20 5,832,896.70 5,832,897.00 RECEIPTS: Fire Insurance Premium Tax 0.00 0.00 143,000.00 0.00 154,275.27 143,000.00 Investment Interest 10,903.49 30,530.18 325,000.00 3,341.86 1,352,434.70 325,000.00 DISBURSEMENTS: Fire Pension 14,731.53 68,015.28 200,000.00 14,299.61 192,624.18 200,000.00 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 0.00 475.00 Actuarial/Firemen's Pens 0.00 0.00 10,000.00 0.00 0.00 0.00 ENDING CASH/INV BALANCE $7,109,497.39 $7,109,497.39 $6,357,947 $5,777,583.45 $7,146,982.49 $6,100,422 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $5,318,008.58 $5,323,069.50 $3,487,478.57 $3,499,449.81 INVESTMENTS: Federal National Mortgage Assn 852,855.63 852,855.63 852,855.63 852,855.63 Treasury Strips & Zero Coupon Bonds 924,554.08 924,554.08 1,422,683.08 1,422,683.08 Interest Receivable 14,079.10 12,846.22 14,566.17 13,552.68 TOTAL CASH AND INVESTMENTS $7,109,497.39 $7,113,325.43 $5,777,583.45 $5,788,541.20 The State Investment Pool interest 2.5405% 2.5230% 1.7149% 1.5755% H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\Apr 19 Page 1 5/13/2019 AGENDA ITEM #5. a) 4 s 1 4 4 s 1 4 s 2 5 4 i i 2 4 i FIREFIGHTERS' PENSION BOARD PENSION/MEDICAL PAYMENTS FOR APRIL 2019 Recipient Pension Amt Medical Total ANKENY, Charlie (Captain) $129.47 - $129.47 BARILLEAUX, Ray (Battalion Chief) - - $0.00 BERGMAN, Claudette (Widow) $106.90 - $106.90 CHRISTENSON, Chuck (Firefighter) $284.40 - $284.40 GEISSLER, Dick (Fire Chief) - - $0.00 GOODWIN, Kathryn Lorayne (Widow) $1,123.12 - $1,123.12 JONES, Evelyn M. (Widow) $340.45 - $340.45 LARSON, William (Firefighter) - - $0.00 LAVALLEY, Theodele (Captain) $403.74 - $403.74 MATTHEW, James (Deputy Chief) - - $0.00 MC LAUGHLIN, Barbara M. (Widow) $885.24 - $885.24 NEWTON, Gary (Lieutenant) $301.13 - $301.13 NICHOLS, Gerald (Battalion Chief) $612.98 - $612.98 PARKS -AN DREASON, Arlene (Widow) $374.47 - $374.47 PHILLIPS, Bruce H. (Deputy Chief) $265.31 - $265.31 PRINGLE, Arthur (Captain) $549.61 - $549.61 PRINGLE, S. Joan (Widow) $3,082.83 - $3,082.83 RIGGLE, Arduth S. (Widow) - - $0.00 RUPPRECHT, Jim (Firefighter D Step) $116.42 - $116.42 SMITH, Shirley (Widow) $355.26 - $355.26 STROM, Doris (Widow) $3,908.41 - $3,908.41 TODD, Tess R. (Widow) $419.57 - $419.57 TONDA, Lila Jean (Widow) - - $0.00 VACCA, Nick (Lieutenant) $349.23 - $349.23 WALLS, Camille (Widow) $149.81 - $149.81 WEISS, Cheryl (Widow) $973.18 - 1 $973.18 Total Expenses: Pension/Medical $14,731.53 $0.00 1 $14,731.53 1 Widows - Disability. Includes a 3.1% CPI increase effective July 1st, 2018 per RCW 41.16.145 2 Widows - Service. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2019. 3 Widows - Service prior to 1969. Includes a 3.1% CPI increase effective July 1st, 2018 per RCW41.16.145 4 Retirees - Disability after 1961. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2019. ' Retirees - Service after 1969. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2019. Prior Year Pension/Medical Payments: Total Pension Payments for April, 2018 14,299.61 dotal Medical Payments in April, 2018 0.00 Total Expenses: Medical/Pension 14,299.61 4-SUMMARY 2019 4/9/2019 AGENDA ITEM #5. b) 4 s 1 4 4 s 1 4 s 2 5 4 i i 2 4 i FIREFIGHTERS' PENSION BOARD PENSION/MEDICAL PAYMENTS FOR MAY 2019 Recipient Pension Amt Medical Total ANKENY, Charlie (Captain) $129.47 - $129.47 BARILLEAUX, Ray (Battalion Chief) - - $0.00 BERGMAN, Claudette (Widow) $106.90 - $106.90 CHRISTENSON, Chuck (Firefighter) $284.40 - $284.40 GEISSLER, Dick (Fire Chief) - - $0.00 GOODWIN, Kathryn Lorayne (Widow) $1,123.12 - $1,123.12 JONES, Evelyn M. (Widow) $340.45 - $340.45 LARSON, William (Firefighter) - - $0.00 LAVALLEY, Theodele (Captain) $403.74 - $403.74 MATTHEW, James (Deputy Chief) - - $0.00 MC LAUGHLIN, Barbara M. (Widow) $885.24 - $885.24 NEWTON, Gary (Lieutenant) $301.13 - $301.13 NICHOLS, Gerald (Battalion Chief) $612.98 - $612.98 PARKS -AN DREASON, Arlene (Widow) $374.47 - $374.47 PHILLIPS, Bruce H. (Deputy Chief) $265.31 - $265.31 PRINGLE, Arthur (Captain) $549.61 - $549.61 PRINGLE, S. Joan (Widow) $3,082.83 - $3,082.83 RIGGLE, Arduth S. (Widow) - - $0.00 RUPPRECHT, Jim (Firefighter D Step) $116.42 - $116.42 SMITH, Shirley (Widow) $355.26 - $355.26 STROM, Doris (Widow) $3,908.41 - $3,908.41 TODD, Tess R. (Widow) $419.57 - $419.57 TONDA, Lila Jean (Widow) - - $0.00 VACCA, Nick (Lieutenant) $349.23 - $349.23 WALLS, Camille (Widow) $149.81 - $149.81 WEISS, Cheryl (Widow) $973.18 - 1 $973.18 Total Expenses: Pension/Medical $14,731.53 $0.00 1 $14,731.53 1 Widows - Disability. Includes a 3.1% CPI increase effective July 1st, 2018 per RCW 41.16.145 2 Widows - Service. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2019. 3 Widows - Service prior to 1969. Includes a 3.1% CPI increase effective July 1st, 2018 per RCW41.16.145 4 Retirees - Disability after 1961. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2019. ' Retirees - Service after 1969. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2019. Prior Year Pension/Medical Payments: Total Pension Payments for May, 2018 14,299.61 dotal Medical Payments in May, 2018 0.00 Total Expenses: Medical/Pension 14,299.61 4-SUMMARY 2019 5/2/2019