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HomeMy WebLinkAboutFinal Agenda Packet AGENDA Firefighters' Pension Board Meeting 2:00 PM - Thursday, June 17, 2021 Mayor's Conference Room, 7th Floor, City Hall – 1055 S. Grady Way Join Zoom Meeting https://us02web.zoom.us/j/84842009026?pwd=OGVRam5WcHE2S05zNHRuMmtmWVlPUT09 Meeting ID: 848 4200 9026 Passcode: 985836 1. CALL TO ORDER 2. APPROVAL OF MINUTES a) April 8, 2021 3. CORRESPONDENCE 4. MONTHLY STATEMENTS a) February 2021 b) March 2021 c) Draft April 2021 5. MONTHLY BILLS AND PENSION PAYMENTS a) April 2021 b) May 2021 6. UNFINISHED BUSINESS 7. NEW BUSINESS 8. ADJOURNMENT MINUTES FIREFIGHTERS’ PENSION BOARD CITY OF RENTON April 8, 2021 ________________________________________________________________________ Armondo Pavone, Mayor Valerie O’Halloran, Finance Committee Chair Jason Seth, City Clerk Ray Barilleaux, Fire Department Representative Bruce Phillips, Fire Department Representative Kari Roller, Interim Administrative Services Administrator Sean Hollingsworth, Finance Department Representative Nate Malone, Tax and Licensing Program Manager ________________________________________________________________________ The regular meeting of the Firefighters’ Pension Board was called to order by City Clerk Jason Seth, at 2:31 p.m. via videoconference. In attendance were Mayor Armondo Pavone, Valerie O’Halloran, Finance Committee Chair, City Clerk Jason Seth, and Fire Department Representatives Ray Barilleaux and Bruce Phillips. Additionally, Kari Roller, Sean Hollingsworth, and Nate Malone, Finance Department Representatives, were in attendance. MINUTES APPROVAL MOVED BY BARILLEAUX, SECONDED BY O’HALLORAN, THE PENSION BOARD APPROVE THE MINUTES OF THE JANUARY 25, 2021. CARRIED. MONTHLY STATEMENT The December 2020, January 2021, and February 2021 financial reports were reviewed. Total cash/investment balance was, as of February 28, 2021, $7,874,031.93. MONTHLY BILLS AND PENSION PAYMENTS MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, THE BOARD APPROVE THE PENSION/MEDICAL PAYMENTS OF $19,841.07 FOR FEBRUARY 2021, AND $19,841.07 FOR MARCH 2021, TO BE PAID BY THE FIREFIGHTERS’ PENSION FUND. CARRIED. UNFINISHED BUSINESS Continuing the conversation from the previous meeting, Nate Malone, Tax and Licensing Program Manager, explained that the opportunity to invest some funds had passed. Discussion ensued, and the board concurred to allow the Fiscal Services Division of the Administrative Services Department to invest Firefighters’ Pension Board funds per the City investment policy. MOVED BY PHILLIPS, SECONDED BY BARILLEAUX, THE FIREFIGHTERS’ PENSION BOARD AUTHORIZES THE FISCAL SERVICES DIVISION OF THE ADMINISTRATIVE SERVICES DEPARTMENT TO INVEST FIREFIGHTERS’ PENSION BOARD FUNDS IN ACCORDANCE WITH CITY OF RENTON INVESTMENT POLICIES. CARRIED. AGENDA ITEM #2. a) 4/8/2021 Minutes Firefighters’ Pension Board Page 2 of 2 NEW BUSINESS MOVED BY BARILLEAUX, SECONDED BY O’HALLORAN, THE BOARD DIRECT MR. HOLLINGSWORTH TO MAIL OUT THE ANNUAL ADDRESS VERIFICATION QUESTIONNAIRE PRIOR TO THE NEXT MEETING. CARRIED. ADJOURNMENT MOVED BY PAVONE, SECONDED BY SETH, ADJOURN THE MEETING. TIME: 2:51 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 FEBRUARY 28, 2021 Firefighter's Pension Fund Comparison of Cash and Investment Activity CURRENT 2021` 2021 LAST YEAR 2020 2020 ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE 7,891,036.98 7,908,311.54 7,833,427.00 7,556,934.76 7,565,901.69 7,565,902.00 RECEIPTS: Fire Insurance Premium Tax 0.00 0.00 160,000.00 0.00 165,916.78 143,000.00 Investment Interest 2,836.02 5,402.53 225,000.00 6,389.21 389,666.62 325,000.00 DISBURSEMENTS: Fire Pension 19,841.07 39,682.14 200,000.00 18,304.84 209,773.55 200,000.00 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 3,400.00 0.00 ENDING CASH/INV BALANCE $7,874,031.93 $7,874,031.93 $8,007,952 $7,545,019.13 $7,908,311.54 $7,833,427.00 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $7,069,844.41 $7,066,361.34 $6,359,781.90 $6,372,717.01 INVESTMENTS: Federal National Mortgage Assn 99,555.84 99,555.84 353,133.34 353,133.34 Treasury Strips & Zero Coupon Bonds 698,844.16 698,844.16 806,745.46 806,745.46 Interest Receivable 5,787.52 26,275.64 25,358.43 24,338.95 TOTAL CASH AND INVESTMENTS $7,874,031.93 $7,891,036.98 $7,545,019.13 $7,556,934.76 The State Investment Pool interest 0.1347% 0.1395% 1.6787% 1.7230% 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 Dollars2021 2020 H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\Feb 21 Page 1 5/13/2021 AGENDA ITEM #4. a) CITY OF RENTON - FIREFIGHTER'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF MARCH 31, 2021 Firefighter's Pension Fund Comparison of Cash and Investment Activity CURRENT 2021 2021 LAST YEAR 2020 2020 ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE 7,874,031.93 7,908,311.54 7,833,427.00 7,545,019.13 7,565,901.69 7,565,902.00 RECEIPTS: Fire Insurance Premium Tax 0.00 0.00 160,000.00 0.00 165,916.78 143,000.00 Investment Interest 4,045.76 9,448.29 225,000.00 4,343.38 389,666.62 325,000.00 DISBURSEMENTS: Fire Pension 19,841.07 59,523.21 200,000.00 18,304.84 209,773.55 200,000.00 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 3,400.00 0.00 ENDING CASH/INV BALANCE $7,858,236.62 $7,858,236.62 $8,007,952 $7,531,057.67 $7,908,311.54 $7,833,427.00 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $7,054,058.94 $7,069,844.41 $6,597,312.54 $6,359,781.90 INVESTMENTS: Federal National Mortgage Assn 99,555.84 99,555.84 99,555.84 353,133.34 Treasury Strips & Zero Coupon Bonds 698,844.16 698,844.16 806,745.46 806,745.46 Interest Receivable 5,777.68 5,787.52 27,443.83 25,358.43 TOTAL CASH AND INVESTMENTS $7,858,236.62 $7,874,031.93 $7,531,057.67 $7,545,019.13 The State Investment Pool interest 0.1139% 0.1347% 1.2926% 1.6787% 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 Dollars2021 2020 H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\Mar 21 Page 1 5/13/2021 AGENDA ITEM #4. b) CITY OF RENTON - FIREFIGHTER'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF APRIL 30, 2021 Firefighter's Pension Fund Comparison of Cash and Investment Activity CURRENT 2021 2021 LAST YEAR 2020 2020 ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE 7,858,236.62 7,908,311.54 7,833,427.00 7,531,057.67 7,565,901.69 7,565,902.00 RECEIPTS: Fire Insurance Premium Tax 0.00 0.00 160,000.00 0.00 165,916.78 143,000.00 Investment Interest 3,102.65 9,448.29 225,000.00 4,939.08 389,666.62 325,000.00 DISBURSEMENTS: Fire Pension 17,956.51 77,479.72 200,000.00 16,272.35 209,773.55 200,000.00 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 3,400.00 0.00 ENDING CASH/INV BALANCE $7,843,382.76 $7,840,280.11 $8,007,952 $7,519,724.40 $7,908,311.54 $7,833,427.00 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $7,036,102.43 $7,054,058.94 $6,583,046.37 $6,597,312.54 INVESTMENTS: Federal National Mortgage Assn 99,555.84 99,555.84 99,555.84 99,555.84 Treasury Strips & Zero Coupon Bonds 698,844.16 698,844.16 806,745.46 806,745.46 Interest Receivable 8,880.33 5,777.68 30,376.73 27,443.83 TOTAL CASH AND INVESTMENTS $7,843,382.76 $7,858,236.62 $7,519,724.40 $7,531,057.67 The State Investment Pool interest 0.1139% 0.1139% 0.8138% 1.2926% 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 Dollars2021 2020 H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\Apr 21 Page 1 5/13/2021 AGENDA ITEM #4. c) FIREFIGHTERS' PENSION BOARD PENSION/MEDICAL PAYMENTS FOR APRIL 2021 Recipient Pension Amt Retro Total 4 ANKENY, Charlie (Captain) $290.47 ‐                 $290.47 5 BARILLEAUX, Ray (Battalion Chief) ‐ ‐                 $0.00 1 BERGMAN, Claudette (Widow) $201.65 ‐                 $201.65 4 CHRISTENSON, Chuck (Firefighter) $430.91 ‐                 $430.91 5 GEISSLER, Dick (Fire Chief) $137.70 ‐                 $137.70 1 GOODWIN, Kathryn Lorayne (Widow) $1,250.73 ‐                 $1,250.73 1 JONES, Evelyn M. (Widow) $423.50 ‐                 $423.50 4 LAVALLEY, Theodele (Captain) $575.93 ‐                 $575.93 5 MATTHEW, James (Deputy Chief) ‐ ‐                 $0.00 1 MC LAUGHLIN, Barbara M. (Widow) $1,032.83 ‐                 $1,032.83 4 NEWTON, Gary (Lieutenant) $452.44 ‐                 $452.44 5 NICHOLS, Gerald (Battalion Chief) $818.07 ‐                 $818.07 2 PARKS‐ANDREASON, Arlene (Widow) $536.95 ‐                 $536.95 5 PHILLIPS, Bruce H. (Deputy Chief) $492.23 ‐                 $492.23 4 PRINGLE, Arthur (Captain) $730.28 ‐                 $730.28 1 PRINGLE, S. Joan (Widow) $3,261.02 ‐                 $3,261.02 3 RIGGLE, Arduth S. (Widow) $16.14 ‐                 $16.14 4 RUPPRECHT, Jim (Firefighter D Step) $238.68 ‐                 $238.68 1 SMITH, Shirley (Widow) $432.11 ‐                 $432.11 1 STROM, Doris (Widow) $4,134.32 ‐                 $4,134.32 1 TODD, Tess R. (Widow) $498.91 ‐                 $498.91 2 TONDA, Lila Jean (Widow) $155.01 ‐                 $155.01 4 VACCA, Nick (Lieutenant) $495.95 ‐                 $495.95 1 WALLS, Camille (Widow) $224.01 ‐                 $224.01 1 WEISS, Cheryl (Widow) $1,126.67 ‐                 $1,126.67   Total Expenses:  Pension/Medical $17,956.51 $0.00 $17,956.51 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 April, 2020 16,272.35 Total Medical Payments in April, 2020 0.00 Total Expenses:  Medical/Pension 16,272.35 Prior Year Pension/Medical Payments: 4_SUMMARY 2020 4/8/2021 AGENDA ITEM #5. a) FIREFIGHTERS' PENSION BOARD PENSION/MEDICAL PAYMENTS FOR MAY 2021 Recipient Pension Amt Benefit Total 4 ANKENY, Charlie (Captain) $290.47 ‐                 $290.47 5 BARILLEAUX, Ray (Battalion Chief) ‐ ‐                 $0.00 1 BERGMAN, Claudette (Widow) $201.65 ‐                 $201.65 4 CHRISTENSON, Chuck (Firefighter) $430.91 ‐                 $430.91 5 GEISSLER, Dick (Fire Chief) $137.70 ‐                 $137.70 1 GOODWIN, Kathryn Lorayne (Widow) $1,250.73 ‐                 $1,250.73 1 JONES, Evelyn M. (Widow) $423.50 ‐                 $423.50 4 LAVALLEY, Theodele (Captain) $575.93 ‐                 $575.93 5 MATTHEW, James (Deputy Chief) ‐ ‐                 $0.00 1 MC LAUGHLIN, Barbara M. (Widow) $1,032.83 ‐                 $1,032.83 4 NEWTON, Gary (Lieutenant) $452.44 ‐                 $452.44 5 NICHOLS, Gerald (Battalion Chief) $818.07 ‐                 $818.07 2 PARKS‐ANDREASON, Arlene (Widow) $536.95 ‐                 $536.95 5 PHILLIPS, Bruce H. (Deputy Chief) $492.23 ‐                 $492.23 4 PRINGLE, Barb $730.28 200.00           $930.28 1 PRINGLE, S. Joan (Widow) $3,261.02 ‐                 $3,261.02 3 RIGGLE, Arduth S. (Widow) $16.14 ‐                 $16.14 4 RUPPRECHT, Jim (Firefighter D Step) $238.68 ‐                 $238.68 1 SMITH, Shirley (Widow) $432.11 ‐                 $432.11 1 STROM, Doris (Widow) $4,134.32 ‐                 $4,134.32 1 TODD, Tess R. (Widow) $498.91 ‐                 $498.91 2 TONDA, Lila Jean (Widow) $155.01 ‐                 $155.01 4 VACCA, Nick (Lieutenant) $495.95 ‐                 $495.95 1 WALLS, Camille (Widow) $224.01 ‐                 $224.01 1 WEISS, Cheryl (Widow) $1,126.67 ‐                 $1,126.67   Total Expenses:  Pension/Medical $17,956.51 $200.00 $18,156.51 1 Widows ‐ Disability. Includes a 2.5% CPI increase effective July 1st, 2020 per RCW 41.16.145 2 Widows ‐ Service. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2021. 3 Widows ‐ Service prior to 1969. Includes a 2.5% CPI increase effective July 1st, 2020 per RCW41.16.145 4 Retirees ‐ Disability after 1961. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2021. 5 Retirees ‐ Service after 1969. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2021. Total Pension Payments for May, 2020 16,272.35 Total Medical Payments in May, 2020 0.00 Total Expenses:  Medical/Pension 16,272.35 Prior Year Pension/Medical Payments: 4_SUMMARY 2020 5/13/2021 AGENDA ITEM #5. b)