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Home My WebLink AboutFinal Agenda Packet AGENDA Firefighters' Pension Board Meeting 2:00 PM - Thursday, January 16, 2020 Mayor's Conference Room, 7th Floor, City Hall – 1055 S. Grady Way 1. CALL TO ORDER 2. APPROVAL OF MINUTES a) November 21, 2019 3. CORRESPONDENCE 4. MONTHLY STATEMENTS a) November 2019 b) December 2019 5. MONTHLY BILLS AND PENSION PAYMENTS a) December 2019 b) January 2020 6. UNFINISHED BUSINESS a) Bruce Phillips re-elected for 1/1/2020 - 12/31/2021 Term 7. NEW BUSINESS 8. ADJOURNMENT MINUTES FIREFIGHTERS' PENSION BOARD CITY OF RENTON November 21, 2019 Denis Law, Mayor-ABSENT Armando Pavane, Finance Committee Chair-ABSENT Jason Seth, City Clerk Ray Barilleaux, Fire Department Representative-ABSENT Bruce Phillips, Fire Department Representative Chuck Christenson, Alternate Fire Department Representative Kari Roller, Fiscal Services Director The regular meeting of the Firefighters' Pension Board was called to order by City Clerk Jason Seth, at 2:00 p.m. in the Mayor's office, 7th floor of Renton City Hall. In attendance were City Clerk Jason Seth, Fire Department Representatives Bruce Phillips and Chuck Christenson. Additionally, Kari Roller, Fiscal Services Director was in attendance. MINUTES APPROVAL MOVED BY PHILLIPS, SECONDED BY CHRISTENSON,THE PENSION BOARD APPROVE THE MINUTES OF THE SEPTEMBER 19, 2019 MEETING. CARRIED. MONTHLY STATEMENT The September 30, 2019 and October 31, 2019 financial reports were reviewed.Total cash/investment balance was, as of October 31,2019, $7,219,309.58. MONTHLY BILLS AND PENSION PAYMENTS MOVED BY CHRISTENSON,SECONDED BY PHILLIPS,THE BOARD APPROVE THE PENSION/MEDICAL PAYMENTS OF$16,145.74 FOR OCTOBER 2019 AND$16,145.74 FOR NOVEMBER 2019,TO BE PAID BY THE FIREFIGHTERS' PENSION FUND. CARRIED. NEW BUSINESS City Clerk Seth noted that he would send a memo to the Renton Regional Fire Authority requesting an election to be held for the re-election of Bruce Phillips for the term of 1/1/2020 through 12/31/2021. Fiscal Services Director Roller discussed the process for reinvesting matured investments. She was asked to bring investment options to the next meeting. ADJOURNMENT MOVED BY CHRISTENSON,SECONDED BY PHILLIPS,ADJOURN THE MEETING.TIME: 2:19 P.M. ason Seth, City Clerk Secretary, Firefighters' Pension Board AGENDA ITEM #2. a) CITY OF RENTON - FIREFIGHTER'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF NOVEMBER 30, 2019 Firefighter's Pension Fund Comparison of Cash and Investment Activity CURRENT 2019 2019 LAST YEAR 2018 2018 ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE 7,260,681.13 7,146,982.49 6,100,422.00 5,862,293.42 5,832,896.70 5,832,897.00 RECEIPTS: Fire Insurance Premium Tax 0.00 155,412.91 143,000.00 0.00 154,275.27 143,000.00 Investment Interest 336,554.34 456,901.37 325,000.00 1,305,497.13 1,352,434.70 325,000.00 DISBURSEMENTS: Fire Pension 16,145.74 178,207.04 200,000.00 15,705.91 192,624.18 200,000.00 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 $7,581,089.73 $7,581,089.73 $6,357,947 $7,152,084.64 $7,146,982.49 $6,100,422 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $6,398,963.21 $5,962,747.48 $5,360,156.27 $3,572,605.06 INVESTMENTS: Federal National Mortgage Assn 353,133.34 353,133.34 852,855.63 852,855.63 Treasury Strips & Zero Coupon Bonds 806,745.46 924,554.08 924,554.08 1,422,683.08 Interest Receivable 22,247.72 20,246.23 14,518.66 14,149.65 TOTAL CASH AND INVESTMENTS $7,581,089.73 $7,260,681.13 $7,152,084.64 $5,862,293.42 The State Investment Pool interest 1.8286% 2.0550% 2.2821% 2.2317% 5.00 5.50 6.00 6.50 7.00 7.50 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillions of Dollars2019 2018 H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\Nov 19 Page 1 1/10/2020 AGENDA ITEM #4. a) CITY OF RENTON - FIREFIGHTER'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF DECEMBER 31, 2019 Firefighter's Pension Fund Comparison of Cash and Investment Activity CURRENT 2019 2019 LAST YEAR 2018 2018 ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE 7,581,089.73 7,146,982.49 6,100,422.00 7,152,084.64 5,832,896.70 5,832,897.00 RECEIPTS: Fire Insurance Premium Tax 0.00 155,412.91 143,000.00 0.00 154,275.27 143,000.00 Investment Interest 6,038.47 462,939.84 325,000.00 10,603.76 1,352,434.70 325,000.00 DISBURSEMENTS: Fire Pension 16,145.74 194,352.78 200,000.00 15,705.91 192,624.18 200,000.00 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 $7,570,982.46 $7,570,982.46 $6,357,947 $7,146,982.49 $7,146,982.49 $6,100,422 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $6,392,091.54 $6,398,963.21 $5,356,987.58 $5,360,156.27 INVESTMENTS: Federal National Mortgage Assn 353,133.34 353,133.34 852,855.63 852,855.63 Treasury Strips & Zero Coupon Bonds 806,745.46 806,745.46 924,554.08 924,554.08 Interest Receivable 19,012.12 22,247.72 12,585.20 14,518.66 TOTAL CASH AND INVESTMENTS $7,570,982.46 $7,581,089.73 $7,146,982.49 $7,152,084.64 The State Investment Pool interest 1.7737% 1.8286% 2.3753% 2.2821% 5.00 5.50 6.00 6.50 7.00 7.50 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillions of Dollars2019 2018 H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\Dec 19 Page 1 1/10/2020 AGENDA ITEM #4. b) FIREFIGHTERS' PENSION BOARD PENSION/MEDICAL PAYMENTS FOR DECEMBER 2019 Recipient Pension Amt Retro Total 4 ANKENY, Charlie (Captain) $129.47 ‐ $129.47 5 BARILLEAUX, Ray (Battalion Chief)‐‐ $0.00 1 BERGMAN, Claudette (Widow) $226.33 ‐ $226.33 4 CHRISTENSON, Chuck (Firefighter) $284.40 ‐ $284.40 5 GEISSLER, Dick (Fire Chief)‐‐ $0.00 1 GOODWIN, Kathryn Lorayne (Widow) $1,277.10 ‐ $1,277.10 1 JONES, Evelyn M. (Widow) $470.66 ‐ $470.66 5 LARSON, William (Firefighter)‐‐ $0.00 4 LAVALLEY, Theodele (Captain) $403.74 ‐ $403.74 5 MATTHEW, James (Deputy Chief)‐‐ $0.00 1 MC LAUGHLIN, Barbara M. (Widow) $1,095.12 ‐ $1,095.12 4 NEWTON, Gary (Lieutenant) $301.13 ‐ $301.13 5 NICHOLS, Gerald (Battalion Chief) $612.98 ‐ $612.98 2 PARKS‐ANDREASON, Arlene (Widow) $374.47 ‐ $374.47 5 PHILLIPS, Bruce H. (Deputy Chief) $265.31 ‐ $265.31 4 PRINGLE, Arthur (Captain) $549.61 ‐ $549.61 1 PRINGLE, S. Joan (Widow) $3,181.48 ‐ $3,181.48 3 RIGGLE, Arduth S. (Widow)‐‐ $0.00 4 RUPPRECHT, Jim (Firefighter D Step) $116.42 ‐ $116.42 1 SMITH, Shirley (Widow) $472.67 ‐ $472.67 1 STROM, Doris (Widow) $4,033.48 ‐ $4,033.48 1 TODD, Tess R. (Widow) $536.71 ‐ $536.71 2 TONDA, Lila Jean (Widow)‐‐ $0.00 4 VACCA, Nick (Lieutenant) $349.23 ‐ $349.23 1 WALLS, Camille (Widow) $278.01 ‐ $278.01 1 WEISS, Cheryl (Widow) $1,187.42 ‐ $1,187.42 Total Expenses: Pension/Medical $16,145.74 $0.00 $16,145.74 1 Widows ‐ Disability. Includes a 3.2% CPI increase effective July 1st, 2019 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. 5 Retirees ‐ Service after 1969. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2019. Total Pension Payments for December, 2018 15,705.91 Total Medical Payments in December, 2018 0.00 Total Expenses: Medical/Pension 15,705.91 Prior Year Pension/Medical Payments: 4_SUMMARY 2019 1/10/2020 AGENDA ITEM #5. a) FIREFIGHTERS' PENSION BOARD PENSION/MEDICAL PAYMENTS FOR JANUARY 2020 Recipient Pension Amt Retro Total 4 ANKENY, Charlie (Captain) $308.47 ‐ $308.47 5 BARILLEAUX, Ray (Battalion Chief)‐‐ $0.00 1 BERGMAN, Claudette (Widow) $226.33 ‐ $226.33 4 CHRISTENSON, Chuck (Firefighter) $439.38 ‐ $439.38 5 GEISSLER, Dick (Fire Chief) $173.08 ‐ $173.08 1 GOODWIN, Kathryn Lorayne (Widow) $1,277.10 ‐ $1,277.10 1 JONES, Evelyn M. (Widow) $470.66 ‐ $470.66 5 LARSON, William (Firefighter) $35.35 ‐ $35.35 4 LAVALLEY, Theodele (Captain) $582.74 ‐ $582.74 5 MATTHEW, James (Deputy Chief)‐‐ $0.00 1 MC LAUGHLIN, Barbara M. (Widow) $1,095.12 ‐ $1,095.12 4 NEWTON, Gary (Lieutenant) $461.13 ‐ $461.13 5 NICHOLS, Gerald (Battalion Chief) $819.98 ‐ $819.98 2 PARKS‐ANDREASON, Arlene (Widow) $543.47 ‐ $543.47 5 PHILLIPS, Bruce H. (Deputy Chief) $513.71 ‐ $513.71 4 PRINGLE, Arthur (Captain) $731.11 ‐ $731.11 1 PRINGLE, S. Joan (Widow) $3,181.48 ‐ $3,181.48 3 RIGGLE, Arduth S. (Widow)‐‐ $0.00 4 RUPPRECHT, Jim (Firefighter D Step) $251.42 ‐ $251.42 1 SMITH, Shirley (Widow) $472.67 ‐ $472.67 1 STROM, Doris (Widow) $4,033.48 ‐ $4,033.48 1 TODD, Tess R. (Widow) $536.71 ‐ $536.71 2 TONDA, Lila Jean (Widow) $184.29 ‐ $184.29 4 VACCA, Nick (Lieutenant) $501.73 ‐ $501.73 1 WALLS, Camille (Widow) $278.01 ‐ $278.01 1 WEISS, Cheryl (Widow) $1,187.42 ‐ $1,187.42 Total Expenses: Pension/Medical $18,304.84 $0.00 $18,304.84 1 Widows ‐ Disability. Includes a 3.2% CPI increase effective July 1st, 2019 per RCW 41.16.145 2 Widows ‐ Service. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2020. 3 Widows ‐ Service prior to 1969. Includes a 3.1% CPI increase effective July 1st, 2019 per RCW41.16.145 4 Retirees ‐ Disability after 1961. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2020. 5 Retirees ‐ Service after 1969. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2020. Total Pension Payments for January, 2019 17,761.25 Total Medical Payments in Janaury, 2019 0.00 Total Expenses: Medical/Pension 17,761.25 Prior Year Pension/Medical Payments: 4_SUMMARY 2020 1/8/2020 AGENDA ITEM #5. b) T RENTON REGIONAL FIRE AUTHORITY42roff. fjr` ,1 . o *Vet Zoe MEMORANDUM y4£FIRE P DATE:December 31, 2019 TO: Jason Seth, City Clerk FROM: Rick Marshall, Fire Chief ( n' W SUBJECT: Firemen's Pension Board\Voting Results An election was conducted to fill the vacancy created by the expiration of Bruce Phillips'term as the Department's representative on the City of Renton Firemen's Pension Board. By unanimous vote, Bruce Phillips has been re-elected for this two-year term of office effective from January 1, 2020 to December 31, 2021. Thank you. RM/cn c: Chuck DeSmith,Deputy Chief,Safety&Support Services Roy Gunsolus,Deputy Chief,Response Operations Samantha Babich,Chief Administration Officer AGENDA ITEM #6. a)