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AGENDA
Firefighters' Pension Board Meeting
2:30 PM - Monday, August 10, 2020
Teleconference, 7th Floor, City Hall – 1055 S. Grady Way
Call-in 425-430-7171, Enter Code: 0392693
1. CALL TO ORDER
2. APPROVAL OF MINUTES
a) June 8, 2020
3. CORRESPONDENCE
4. MONTHLY STATEMENTS
a) May 2020
b) June 2020
c) DRAFT July 2020
5. MONTHLY BILLS AND PENSION PAYMENTS
a) June 2020
b) July 2020
c) August 2020
6. UNFINISHED BUSINESS
7. NEW BUSINESS
8. ADJOURNMENT
MINUTES
FIREFIGHTERS’ PENSION BOARD
CITY OF RENTON
June 8, 2020
________________________________________________________________________
Armondo Pavone, Mayor
Ed Prince, Finance Committee Chair
Jason Seth, City Clerk
Ray Barilleaux, Fire Department Representative
Bruce Phillips, Fire Department Representative
Chuck Christenson, Alternate Fire Department Representative
Kari Roller, Fiscal Services Director
Sean Hollingsworth, Finance Department Representative
________________________________________________________________________
The regular meeting of the Firefighters’ Pension Board was called to order by City Clerk Jason
Seth, at 2:21 p.m. via teleconference. In attendance were Mayor Pavone, Ed Prince, Finance
Committee Chair, City Clerk Jason Seth, Fire Department Representatives Ray Barilleaux and
Bruce Phillips. Additionally, Kari Roller, Finance Department Representative was in attendance.
MINUTES APPROVAL
MOVED BY PHILLIPS, SECONDED BY BARILLEAUX, THE PENSION BOARD APPROVE THE MINUTES
OF THE JANUARY 16, 2020. CARRIED.
MONTHLY STATEMENT
The January, February, March, and April, 2020 financial reports were reviewed. Total
cash/investment balance was, as of April 30, 2020, $7,519,724.40.
MONTHLY BILLS AND PENSION PAYMENTS
MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, THE BOARD APPROVE THE PENSION/MEDICAL
PAYMENTS OF $18,304.84 FOR FEBRUARY 2020, $18,304.84 FOR MARCH 2020, $16,272.35 FOR
APRIL 2020, and $16,272.35 FOR MAY 2020, TO BE PAID BY THE FIREFIGHTERS’ PENSION FUND.
CARRIED.
NEW BUSINESS
Mr. Barilleaux mentioned that in years’ past, the City would provide the board with a detailed
list of annual pension/medical payment changes. Ms. Roller remarked that the Finance
Department would resume providing those lists to both the board and the pensions/medical
recipients.
ADJOURNMENT
MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, ADJOURN THE MEETING. TIME: 2:30 P.M.
Jason Seth, City Clerk
Secretary, Firefighters’ Pension Board
AGENDA ITEM #2. a)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF MAY 31, 2020
Firefighter's Pension Fund Comparison of Cash and Investment Activity
CURRENT 2020 2020 LAST YEAR 2019 2019
ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET
BEGINNING CASH/INV BALANCE 7,519,724.40 7,565,901.69 7,565,902.00 7,109,497.39 7,581,089.73 7,146,983.00
RECEIPTS:
Fire Insurance Premium Tax 165,916.78 165,916.78 143,000.00 155,412.91 0.00 143,000.00
Investment Interest 3,697.52 28,707.10 325,000.00 6,054.14 13,107.70 325,000.00
DISBURSEMENTS:
Fire Pension 16,272.35 87,459.22 200,000.00 14,731.53 16,145.74 200,000.00
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 3,400.00 3,400.00 0.00 0.00 12,150.00 10,000.00
ENDING CASH/INV BALANCE $7,669,666.35 $7,669,666.35 $7,833,427 $7,256,232.91 $7,565,901.69 $7,404,508
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $6,732,953.61 $6,583,046.37 $5,464,865.08 $5,318,008.58
INVESTMENTS:
Federal National Mortgage Assn 99,555.84 99,555.84 852,855.63 852,855.63
Treasury Strips & Zero Coupon Bonds 806,745.46 806,745.46 924,554.08 924,554.08
Interest Receivable 30,411.44 30,376.73 13,958.12 14,079.10
TOTAL CASH AND INVESTMENTS $7,669,666.35 $7,519,724.40 $7,256,232.91 $7,109,497.39
The State Investment Pool interest 0.4977% 0.8138% 2.4954% 2.5405%
5.00
5.50
6.00
6.50
7.00
7.50
8.00
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillions of Dollars2020 2019
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\May 20 Page 1 8/3/2020
AGENDA ITEM #4. a)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF JUNE 30, 2020
Firefighter's Pension Fund Comparison of Cash and Investment Activity
CURRENT 2020 2020 LAST YEAR 2019 2019
ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET
BEGINNING CASH/INV BALANCE 7,669,666.35 7,565,901.69 7,565,902.00 7,256,232.91 7,581,089.73 7,146,983.00
RECEIPTS:
Fire Insurance Premium Tax 0.00 0.00 143,000.00 0.00 0.00 143,000.00
Investment Interest 3,275.11 31,982.21 325,000.00 6,819.91 13,107.70 325,000.00
DISBURSEMENTS:
Fire Pension 16,272.35 103,731.57 200,000.00 14,731.53 16,145.74 200,000.00
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 3,400.00 0.00 0.00 12,150.00 10,000.00
ENDING CASH/INV BALANCE $7,656,669.11 $7,490,752.33 $7,833,427 $7,248,321.29 $7,565,901.69 $7,404,508
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $6,721,281.13 $6,732,953.61 $5,454,878.89 $5,464,865.08
INVESTMENTS:
Federal National Mortgage Assn 99,555.84 99,555.84 852,855.63 852,855.63
Treasury Strips & Zero Coupon Bonds 806,745.46 806,745.46 924,554.08 924,554.08
Interest Receivable 29,086.68 30,411.44 16,032.69 13,958.12
TOTAL CASH AND INVESTMENTS $7,656,669.11 $7,669,666.35 $7,248,321.29 $7,256,232.91
The State Investment Pool interest 0.3698% 0.4977% 2.4954% 2.4954%
5.00
5.50
6.00
6.50
7.00
7.50
8.00
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillions of Dollars2020 2019
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\Jun 20 Page 1 8/3/2020
AGENDA ITEM #4. b)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF JULY 31, 2020
Firefighter's Pension Fund Comparison of Cash and Investment Activity
CURRENT 2020 2020 LAST YEAR 2019 2019
ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET
BEGINNING CASH/INV BALANCE 7,656,669.11 7,565,901.69 7,565,902.00 7,248,321.29 7,581,089.73 7,146,983.00
RECEIPTS:
Fire Insurance Premium Tax 0.00 0.00 143,000.00 0.00 0.00 143,000.00
Investment Interest 3,200.00 35,182.21 325,000.00 6,086.81 13,107.70 325,000.00
DISBURSEMENTS:
Fire Pension 17,525.31 71,186.87 200,000.00 14,731.53 16,145.74 200,000.00
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 0.00 0.00 12,150.00 10,000.00
ENDING CASH/INV BALANCE $7,642,343.80 $7,529,897.03 $7,833,427 $7,239,676.57 $7,565,901.69 $7,404,508
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $6,703,555.82 $6,721,281.13 $5,444,989.17 $5,454,878.89
INVESTMENTS:
Federal National Mortgage Assn 99,555.84 99,555.84 852,855.63 852,855.63
Treasury Strips & Zero Coupon Bonds 806,745.46 806,745.46 924,554.08 924,554.08
Interest Receivable 32,486.68 29,086.68 17,277.69 16,032.69
TOTAL CASH AND INVESTMENTS $7,642,343.80 $7,656,669.11 $7,239,676.57 $7,248,321.29
The State Investment Pool interest 0.3698% 0.3698% 2.4776% 2.4954%
5.00
5.50
6.00
6.50
7.00
7.50
8.00
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillions of Dollars2020 2019
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\July 20 Page 1 8/3/2020
AGENDA ITEM #4. c)
FIREFIGHTERS' PENSION BOARD
PENSION/MEDICAL PAYMENTS FOR JUNE 2020
Recipient Pension Amt Retro Total
4 ANKENY, Charlie (Captain) $201.75 ‐ $201.75
5 BARILLEAUX, Ray (Battalion Chief) ‐ ‐ $0.00
1 BERGMAN, Claudette (Widow) $148.75 ‐ $148.75
4 CHRISTENSON, Chuck (Firefighter) $350.83 ‐ $350.83
5 GEISSLER, Dick (Fire Chief) $19.85 ‐ $19.85
1 GOODWIN, Kathryn Lorayne (Widow) $1,198.16 ‐ $1,198.16
1 JONES, Evelyn M. (Widow) $390.87 ‐ $390.87
4 LAVALLEY, Theodele (Captain) $481.89 ‐ $481.89
5 MATTHEW, James (Deputy Chief) ‐ ‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $973.71 ‐ $973.71
4 NEWTON, Gary (Lieutenant) $369.78 ‐ $369.78
5 NICHOLS, Gerald (Battalion Chief) $706.75 ‐ $706.75
2 PARKS‐ANDREASON, Arlene (Widow) $448.15 ‐ $448.15
5 PHILLIPS, Bruce H. (Deputy Chief) $367.77 ‐ $367.77
4 PRINGLE, Arthur (Captain) $631.82 ‐ $631.82
1 PRINGLE, S. Joan (Widow) $3,181.48 ‐ $3,181.48
3 RIGGLE, Arduth S. (Widow) ‐ ‐ $0.00
4 RUPPRECHT, Jim (Firefighter D Step) $171.32 ‐ $171.32
1 SMITH, Shirley (Widow) $401.76 ‐ $401.76
1 STROM, Doris (Widow) $4,033.48 ‐ $4,033.48
1 TODD, Tess R. (Widow) $467.36 ‐ $467.36
2 TONDA, Lila Jean (Widow) $50.31 ‐ $50.31
4 VACCA, Nick (Lieutenant) $416.10 ‐ $416.10
1 WALLS, Camille (Widow) $195.48 ‐ $195.48
1 WEISS, Cheryl (Widow) $1,064.98 ‐ $1,064.98
Total Expenses: Pension/Medical $16,272.35 $0.00 $16,272.35
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 June, 2019 14,731.53
Total Medical Payments in June, 2019 0.00
Total Expenses: Medical/Pension 14,731.53
Prior Year Pension/Medical Payments:
4_SUMMARY 2020 6/9/2020
AGENDA ITEM #5. a)
FIREFIGHTERS' PENSION BOARD
PENSION/MEDICAL PAYMENTS FOR JULY 2020
Recipient Pension Amt Retro Total
4 ANKENY, Charlie (Captain) $201.75 ‐ $201.75
5 BARILLEAUX, Ray (Battalion Chief) ‐ ‐ $0.00
1 BERGMAN, Claudette (Widow) $272.00 ‐ $272.00
4 CHRISTENSON, Chuck (Firefighter) $350.83 ‐ $350.83
5 GEISSLER, Dick (Fire Chief) $19.85 ‐ $19.85
1 GOODWIN, Kathryn Lorayne (Widow) $1,322.31 ‐ $1,322.31
1 JONES, Evelyn M. (Widow) $495.86 ‐ $495.86
4 LAVALLEY, Theodele (Captain) $481.89 ‐ $481.89
5 MATTHEW, James (Deputy Chief) ‐ ‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $1,142.93 ‐ $1,142.93
4 NEWTON, Gary (Lieutenant) $369.78 ‐ $369.78
5 NICHOLS, Gerald (Battalion Chief) $706.75 ‐ $706.75
2 PARKS‐ANDREASON, Arlene (Widow) $448.15 ‐ $448.15
5 PHILLIPS, Bruce H. (Deputy Chief) $367.77 ‐ $367.77
4 PRINGLE, Arthur (Captain) $631.82 ‐ $631.82
1 PRINGLE, S. Joan (Widow) $3,261.02 ‐ $3,261.02
3 RIGGLE, Arduth S. (Widow) $85.77 ‐ $85.77
4 RUPPRECHT, Jim (Firefighter D Step) $171.32 ‐ $171.32
1 SMITH, Shirley (Widow) $496.42 ‐ $496.42
1 STROM, Doris (Widow) $4,134.32 ‐ $4,134.32
1 TODD, Tess R. (Widow) $561.80 ‐ $561.80
2 TONDA, Lila Jean (Widow) $50.31 ‐ $50.31
4 VACCA, Nick (Lieutenant) $416.10 ‐ $416.10
1 WALLS, Camille (Widow) $298.85 ‐ $298.85
1 WEISS, Cheryl (Widow) $1,237.71 ‐ $1,237.71
Total Expenses: Pension/Medical $17,525.31 $0.00 $17,525.31
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 July, 2019 14,731.53
Total Medical Payments in July, 2019 0.00
Total Expenses: Medical/Pension 14,731.53
Prior Year Pension/Medical Payments:
4_SUMMARY 2020 7/7/2020
AGENDA ITEM #5. b)
FIREFIGHTERS' PENSION BOARD
PENSION/MEDICAL PAYMENTS FOR AUGUST 2020
Recipient Pension Amt Retro Total
4 ANKENY, Charlie (Captain) $201.75 ‐ $201.75
5 BARILLEAUX, Ray (Battalion Chief) ‐ ‐ $0.00
1 BERGMAN, Claudette (Widow) $272.00 ‐ $272.00
4 CHRISTENSON, Chuck (Firefighter) $350.83 ‐ $350.83
5 GEISSLER, Dick (Fire Chief) $19.85 ‐ $19.85
1 GOODWIN, Kathryn Lorayne (Widow) $1,322.31 ‐ $1,322.31
1 JONES, Evelyn M. (Widow) $495.86 ‐ $495.86
4 LAVALLEY, Theodele (Captain) $481.89 ‐ $481.89
5 MATTHEW, James (Deputy Chief) ‐ ‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $1,142.93 ‐ $1,142.93
4 NEWTON, Gary (Lieutenant) $369.78 ‐ $369.78
5 NICHOLS, Gerald (Battalion Chief) $706.75 ‐ $706.75
2 PARKS‐ANDREASON, Arlene (Widow) $448.15 ‐ $448.15
5 PHILLIPS, Bruce H. (Deputy Chief) $367.77 ‐ $367.77
4 PRINGLE, Arthur (Captain) $631.82 ‐ $631.82
1 PRINGLE, S. Joan (Widow) $3,261.02 ‐ $3,261.02
3 RIGGLE, Arduth S. (Widow) $85.77 ‐ $85.77
4 RUPPRECHT, Jim (Firefighter D Step) $171.32 ‐ $171.32
1 SMITH, Shirley (Widow) $496.42 ‐ $496.42
1 STROM, Doris (Widow) $4,134.32 ‐ $4,134.32
1 TODD, Tess R. (Widow) $561.80 ‐ $561.80
2 TONDA, Lila Jean (Widow) $50.31 ‐ $50.31
4 VACCA, Nick (Lieutenant) $416.10 ‐ $416.10
1 WALLS, Camille (Widow) $298.85 ‐ $298.85
1 WEISS, Cheryl (Widow) $1,237.71 ‐ $1,237.71
Total Expenses: Pension/Medical $17,525.31 $0.00 $17,525.31
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 August, 2019 17,559.95
Total Medical Payments in August, 2019 0.00
Total Expenses: Medical/Pension 17,559.95
Prior Year Pension/Medical Payments:
4_SUMMARY 2020 8/3/2020
AGENDA ITEM #5. c)