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)