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Home My WebLink AboutFinal Agenda Packet AGENDA Firefighters' Pension Board Meeting 2:00 PM - Thursday, November 18, 2021 Mayor's Conference Room, 7th Floor, City Hall – 1055 S. Grady Way Join Zoom Meeting https://us02web.zoom.us/j/82517666982?pwd=elYvZjhwNGVlczVIYTJuNEowRGdEZz09 Meeting ID: 825 1766 6982 Passcode: 393539 1. CALL TO ORDER 2. APPROVAL OF MINUTES a) September 23, 2021 3. CORRESPONDENCE 4. MONTHLY STATEMENTS a) September 2021 5. MONTHLY BILLS AND PENSION PAYMENTS a) October 2021 b) November 2021 6. UNFINISHED BUSINESS 7. NEW BUSINESS 8. ADJOURNMENT MINUTES FIREFIGHTERS’ PENSION BOARD CITY OF RENTON September 23, 2021 ________________________________________________________________________ Valerie O’Halloran, Finance Committee Chair Jason Seth, City Clerk Ray Barilleaux, Fire Department Representative Kari Roller, Interim Administrative Services Administrator ________________________________________________________________________ The regular meeting of the Firefighters’ Pension Board was called to order by City Clerk Jason Seth, at 2:05 p.m. via videoconference. In attendance were Valerie O’Halloran, Finance Committee Chair, City Clerk Jason Seth, and Fire Department Representative Ray Barilleaux. Additionally, Kari Roller, Finance Department Representative, was in attendance. MINUTES APPROVAL MOVED BY O’HALLORAN, SECONDED BY BARILLEAUX, THE PENSION BOARD APPROVE THE MINUTES OF THE JUNE 17, 2021 MEETING. CARRIED. MONTHLY STATEMENT The May 2021, June 2021, July 2021, and August 2021 financial reports were reviewed. Total cash/investment balance was, as of August 31, 2021, $8,103,657.33. MONTHLY BILLS AND PENSION PAYMENTS MOVED BY BARILLEAUX, SECONDED BY O’HALLORAN, THE BOARD APPROVE THE PENSION/MEDICAL PAYMENTS OF $17,956.51 FOR JUNE 2021, $18,943.66 FOR JULY 2021, AND $18,943.66 FOR AUGUST 2021, TO BE PAID BY THE FIREFIGHTERS’ PENSION FUND. CARRIED. NEW BUSINESS Ms. Roller noted that a 2% CPI increase became effective July 1, 2021. ADJOURNMENT City Clerk Seth adjourned the meeting at 2:12 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 SEPTEMBER 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 8,103,657.33 7,908,311.54 7,908,312.00 7,627,573.72 7,565,901.69 7,565,902.00 RECEIPTS: Fire Insurance Premium Tax 0.00 171,853.42 160,000.00 0.00 165,916.78 143,000.00 Investment Interest 1,834.69 188,932.12 225,000.00 3,018.94 389,666.62 325,000.00 DISBURSEMENTS: Fire Pension 18,943.66 170,423.72 200,000.00 17,525.31 209,773.55 200,000.00 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 12,125.00 10,000.00 0.00 3,400.00 0.00 ENDING CASH/INV BALANCE $8,086,548.36 $8,086,548.36 $8,082,837 $7,613,067.35 $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 $7,382,443.78 $7,397,317.83 $6,673,250.86 $6,689,263.08 INVESTMENTS: Federal National Mortgage Assn 0.00 0.00 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 5,260.42 7,495.34 33,515.19 32,009.34 TOTAL CASH AND INVESTMENTS $8,086,548.36 $8,103,657.33 $7,613,067.35 $7,627,573.72 The State Investment Pool interest 0.0870% 0.0789% 0.2059% 0.2554% 5.00 5.50 6.00 6.50 7.00 7.50 8.00 8.50 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillions of Dollars2021 2020 H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\Sep 21 Page 1 11/12/2021 AGENDA ITEM #4. a) FIREFIGHTERS' PENSION BOARD PENSION/MEDICAL PAYMENTS FOR OCTOBER 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) $253.65 ‐ $253.65 4 CHRISTENSON, Chuck (Firefighter) $430.91 ‐ $430.91 5 GEISSLER, Dick (Fire Chief) $137.70 ‐ $137.70 1 GOODWIN, Kathryn Lorayne (Widow) $1,352.53 ‐ $1,352.53 1 JONES, Evelyn M. (Widow) $509.59 ‐ $509.59 4 LAVALLEY, Theodele (Captain) $575.93 ‐ $575.93 5 MATTHEW, James (Deputy Chief) ‐ ‐ $0.00 1 MC LAUGHLIN, Barbara M. (Widow) $1,171.59 ‐ $1,171.59 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 ‐ $730.28 1 PRINGLE, S. Joan (Widow) $3,326.24 ‐ $3,326.24 3 RIGGLE, Arduth S. (Widow) $95.27 ‐ $95.27 4 RUPPRECHT, Jim (Firefighter D Step) $238.68 ‐ $238.68 1 SMITH, Shirley (Widow) $509.73 ‐ $509.73 1 STROM, Doris (Widow) $4,217.01 ‐ $4,217.01 1 TODD, Tess R. (Widow) $576.35 ‐ $576.35 2 TONDA, Lila Jean (Widow) $155.01 ‐ $155.01 4 VACCA, Nick (Lieutenant) $495.95 ‐ $495.95 1 WALLS, Camille (Widow) $308.77 ‐ $308.77 1 WEISS, Cheryl (Widow) $1,268.31 ‐ $1,268.31 Total Expenses: Pension/Medical $18,943.66 $0.00 $18,943.66 1 Widows ‐ Disability. Includes a 2% CPI increase effective July 1st, 2021 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% CPI increase effective July 1st, 2021 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 October, 2020 17,525.31 Total Medical Payments in October, 2020 0.00 Total Expenses: Medical/Pension 17,525.31 Prior Year Pension/Medical Payments: 4_SUMMARY 2020 10/5/2021 AGENDA ITEM #5. a) FIREFIGHTERS' PENSION BOARD PENSION/MEDICAL PAYMENTS FOR NOVEMBER 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) $253.65 ‐ $253.65 4 CHRISTENSON, Chuck (Firefighter) $430.91 ‐ $430.91 5 GEISSLER, Dick (Fire Chief) $137.70 ‐ $137.70 1 GOODWIN, Kathryn Lorayne (Widow) $1,352.53 ‐ $1,352.53 1 JONES, Evelyn M. (Widow) $509.59 ‐ $509.59 4 LAVALLEY, Theodele (Captain) $575.93 ‐ $575.93 5 MATTHEW, James (Deputy Chief) ‐ ‐ $0.00 1 MC LAUGHLIN, Barbara M. (Widow) $1,171.59 ‐ $1,171.59 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 ‐ $730.28 1 PRINGLE, S. Joan (Widow) $3,326.24 ‐ $3,326.24 3 RIGGLE, Arduth S. (Widow) $95.27 ‐ $95.27 4 RUPPRECHT, Jim (Firefighter D Step) $238.68 ‐ $238.68 1 SMITH, Shirley (Widow) $509.73 ‐ $509.73 1 STROM, Doris (Widow) $4,217.01 ‐ $4,217.01 1 TODD, Tess R. (Widow) $576.35 ‐ $576.35 2 TONDA, Lila Jean (Widow) $155.01 ‐ $155.01 4 VACCA, Nick (Lieutenant) $495.95 ‐ $495.95 1 WALLS, Camille (Widow) $308.77 ‐ $308.77 1 WEISS, Cheryl (Widow) $1,268.31 ‐ $1,268.31 Total Expenses: Pension/Medical $18,943.66 $0.00 $18,943.66 1 Widows ‐ Disability. Includes a 2% CPI increase effective July 1st, 2021 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% CPI increase effective July 1st, 2021 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 November, 2020 17,525.31 Total Medical Payments in November, 2020 0.00 Total Expenses: Medical/Pension 17,525.31 Prior Year Pension/Medical Payments: 4_SUMMARY 2020 11/2/2021 AGENDA ITEM #5. b)