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AGENDA
Firefighters' Pension Board Meeting
4:00 PM - Tuesday, May 17, 2022
Mayor's Conference Room, 7th Floor, City Hall – 1055 S. Grady Way
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1. CALL TO ORDER
2. APPROVAL OF MINUTES
a) March 27, 2022
3. CORRESPONDENCE
4. MONTHLY STATEMENTS
a) February 2022
b) March 2022
c) April 2022 - Draft Statement
5. MONTHLY BILLS AND PENSION PAYMENTS
a) April 2022
b) May 2022
6. UNFINISHED BUSINESS
a) History and Background of the Firefighters’ Pension Board
7. NEW BUSINESS
8. ADJOURNMENT
MINUTES
FIREFIGHTERS’ PENSION BOARD
CITY OF RENTON
March 17, 2022
________________________________________________________________________
Armondo Pavone, Mayor
Valerie O’Halloran, Finance Committee Chair
Jason Seth, City Clerk
Ray Barilleaux, Fire Department Representative
Kari Roller, Finance Administrator
Sean Hollingsworth, Finance Representative
________________________________________________________________________
The regular meeting of the Firefighters’ Pension Board was called to order by City Clerk Jason
Seth, at 2:08 p.m. via videoconference. In attendance were Armondo Pavone, Mayor; Valerie
O’Halloran, Finance Committee Chair, City Clerk Jason Seth; and Fire Department Representative
Ray Barilleaux. Additionally, Kari Roller, Finance Administrator and Sean Hollingsworth, Finance
Department Representative, were in attendance.
MINUTES APPROVAL
MOVED BY PAVONE, SECONDED BY O’HALLORAN, THE PENSION BOARD APPROVE THE MINUTES
OF THE JANUARY 20, 2022 MEETING. CARRIED.
MONTHLY STATEMENT
The December 2021, January 2022, and draft February 2022 financial reports were reviewed.
Total cash/investment balance was, as of February 28, 2022, 2021, $8,351,856.61.
MONTHLY BILLS AND PENSION PAYMENTS
MOVED BY BARILLEAUX, SECONDED BY PAVONE, THE BOARD APPROVE THE PENSION/MEDICAL
PAYMENTS OF $20,826.44 FOR FEBRUARY 2022, AND $20,826.44 FOR MARCH 2022, TO BE PAID
BY THE FIREFIGHTERS’ PENSION FUND. CARRIED.
NEW BUSINESS
Councilmember O’Halloran requested a report on the history, use, eligibility, purpose and
background of the Firefighters’ Pension Board. Finance Administrator Kari Roller indicated that
she would present this information at the next Firefighters’ Pension Board meeting.
ADJOURNMENT
City Clerk Seth adjourned the meeting at 2:19 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, 2022
Firefighter's Pension Fund Comparison of Cash and Investment Activity
CURRENT 2022 2022 LAST YEAR 2021 2021
ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET
BEGINNING CASH/INV BALANCE 8,352,173.35 8,371,183.05 8,082,836.54 7,891,036.98 7,908,311.54 7,908,312.00
RECEIPTS:
Fire Insurance Premium Tax 0.00 0.00 165,000.00 0.00 171,853.42 160,000.00
Investment Interest 1,829.38 3,646.12 125,000.00 2,836.02 530,397.79 225,000.00
DISBURSEMENTS:
Fire Pension 20,826.44 41,652.88 200,000.00 19,841.07 227,254.70 200,000.00
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 12,125.00 10,000.00
ENDING CASH/INV BALANCE $8,333,176.29 $8,333,176.29 $8,172,362 $7,874,031.93 $8,371,183.05 $8,082,837
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $7,726,491.29 $7,745,189.87 $7,069,844.41 $7,066,361.34
INVESTMENTS:
Federal National Mortgage Assn 0.00 0.00 99,555.84 99,555.84
Treasury Strips & Zero Coupon Bonds 600,333.41 600,333.41 698,844.16 698,844.16
Interest Receivable 6,351.59 6,650.07 5,787.52 26,275.64
TOTAL CASH AND INVESTMENTS $8,333,176.29 $8,352,173.35 $7,874,031.93 $7,891,036.98
The State Investment Pool interest 0.1083% 0.0909% 0.1347% 0.1395%
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 Dollars2022 2021
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\Feb 22 Page 1 5/10/2022
AGENDA ITEM #4. a)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF MARCH 31, 2022
Firefighter's Pension Fund Comparison of Cash and Investment Activity
CURRENT 2022 2022 LAST YEAR 2021 2021
ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET
BEGINNING CASH/INV BALANCE 8,333,176.29 8,371,183.05 8,082,836.54 7,874,031.93 7,908,311.54 7,908,312.00
RECEIPTS:
Fire Insurance Premium Tax 0.00 0.00 165,000.00 0.00 171,853.42 160,000.00
Investment Interest 2,237.15 5,883.27 125,000.00 4,045.76 530,397.79 225,000.00
DISBURSEMENTS:
Fire Pension 20,826.44 62,479.32 200,000.00 19,841.07 227,254.70 200,000.00
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 12,125.00 10,000.00
ENDING CASH/INV BALANCE $8,314,587.00 $8,314,587.00 $8,172,362 $7,858,236.62 $8,371,183.05 $8,082,837
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $7,708,135.42 $7,726,491.29 $7,054,058.94 $7,069,844.41
INVESTMENTS:
Federal National Mortgage Assn 0.00 0.00 99,555.84 99,555.84
Treasury Strips & Zero Coupon Bonds 600,333.41 600,333.41 698,844.16 698,844.16
Interest Receivable 6,118.17 6,351.59 5,777.68 5,787.52
TOTAL CASH AND INVESTMENTS $8,314,587.00 $8,333,176.29 $7,858,236.62 $7,874,031.93
The State Investment Pool interest 0.2253% 0.1083% 0.1139% 0.1347%
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 Dollars2022 2021
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\Mar 22 Page 1 5/10/2022
AGENDA ITEM #4. b)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF APRIL 30, 2022
Firefighter's Pension Fund Comparison of Cash and Investment Activity
CURRENT 2022 2022 LAST YEAR 2021 2021
ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET
BEGINNING CASH/INV BALANCE 8,314,587.00 8,371,183.05 8,082,836.54 7,858,236.62 7,908,311.54 7,908,312.00
RECEIPTS:
Fire Insurance Premium Tax 0.00 0.00 165,000.00 0.00 171,853.42 160,000.00
Investment Interest 2,200.00 8,083.27 125,000.00 1,812.26 530,397.79 225,000.00
DISBURSEMENTS:
Fire Pension 16,117.34 78,596.66 200,000.00 17,956.51 227,254.70 200,000.00
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 12,125.00 10,000.00
ENDING CASH/INV BALANCE $8,300,669.66 $8,300,669.66 $8,172,362 $7,842,092.37 $8,371,183.05 $8,082,837
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $7,694,218.08 $7,708,135.42 $7,036,389.64 $7,054,058.94
INVESTMENTS:
Federal National Mortgage Assn 0.00 0.00 99,555.84 99,555.84
Treasury Strips & Zero Coupon Bonds 600,333.41 600,333.41 698,844.16 698,844.16
Interest Receivable 6,118.17 6,118.17 7,302.73 5,777.68
TOTAL CASH AND INVESTMENTS $8,300,669.66 $8,314,587.00 $7,842,092.37 $7,858,236.62
The State Investment Pool interest 0.2253% 0.2253% 0.1020% 0.1139%
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 Dollars2022 2021
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\Apr 22 Page 1 5/10/2022
AGENDA ITEM #4. c)
FIREFIGHTERS' PENSION BOARD
PENSION/MEDICAL PAYMENTS FOR APRIL 2022
Recipient Pension Amt Benefit Total
4 ANKENY, Charlie (Captain) $208.42 ‐ $208.42
5 BARILLEAUX, Ray (Battalion Chief) ‐ ‐ $0.00
1 BERGMAN, Claudette (Widow) $74.43 ‐ $74.43
4 CHRISTENSON, Chuck (Firefighter) $368.37 ‐ $368.37
5 GEISSLER, Dick (Fire Chief) $11.72 ‐ $11.72
1 GOODWIN, Kathryn Lorayne (Widow) $1,170.17 ‐ $1,170.17
1 JONES, Evelyn M. (Widow) $325.25 ‐ $325.25
4 LAVALLEY, Theodele (Captain) $507.44 ‐ $507.44
5 MATTHEW, James (Deputy Chief) ‐ ‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $891.10 ‐ $891.10
4 NEWTON, Gary (Lieutenant) $388.39 ‐ $388.39
5 NICHOLS, Gerald (Battalion Chief) $746.49 ‐ $746.49
2 PARKS‐ANDREASON, Arlene (Widow) $471.70 ‐ $471.70
5 PHILLIPS, Bruce H. (Deputy Chief) $383.09 ‐ $383.09
1 PRINGLE, Barb $500.89 ‐ $500.89
1 PRINGLE, S. Joan (Widow) $3,326.24 ‐ $3,326.24
3 RIGGLE, Arduth S. (Widow) ‐ ‐ $0.00
4 RUPPRECHT, Jim (Firefighter D Step) $177.63 ‐ $177.63
1 SMITH, Shirley (Widow) $345.91 ‐ $345.91
1 STROM, Doris (Widow) $4,217.01 ‐ $4,217.01
1 TODD, Tess R. (Widow) $416.13 ‐ $416.13
2 TONDA, Lila Jean (Widow) $45.28 ‐ $45.28
4 VACCA, Nick (Lieutenant) $438.13 ‐ $438.13
1 WALLS, Camille (Widow) $118.11 ‐ $118.11
1 WEISS, Cheryl (Widow) $985.44 ‐ $985.44
Total Expenses: Pension/Medical $16,117.34 $0.00 $16,117.34
1 Widows ‐ Disability. Includes a 2% CPI increase effective July 1st, 2021 per RCW 41.16.145
2 Widows ‐ Service. Includes a 3.0% COLA Adj. Effective Janaury 1st, 2022.
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 3.0% COLA Adj. Effective Janaury 1st, 2022.
5 Retirees ‐ Service after 1969. Includes a 3.0% COLA Adj. Effective Janaury 1st, 2022.
Total Pension Payments for April, 2021 17,956.51
Total Medical Payments in April, 2021 0.00
Total Expenses: Medical/Pension 17,956.51
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 4/4/2022
AGENDA ITEM #5. a)
FIREFIGHTERS' PENSION BOARD
PENSION/MEDICAL PAYMENTS FOR MAY 2022
Recipient Pension Amt Benefit Total
4 ANKENY, Charlie (Captain) $208.42 ‐ $208.42
5 BARILLEAUX, Ray (Battalion Chief) ‐ ‐ $0.00
1 BERGMAN, Claudette (Widow) $74.43 ‐ $74.43
4 CHRISTENSON, Chuck (Firefighter) $368.37 ‐ $368.37
5 GEISSLER, Dick (Fire Chief) $11.72 ‐ $11.72
1 GOODWIN, Kathryn Lorayne (Widow) $1,170.17 ‐ $1,170.17
1 JONES, Evelyn M. (Widow) $325.25 ‐ $325.25
4 LAVALLEY, Theodele (Captain) $507.44 ‐ $507.44
5 MATTHEW, James (Deputy Chief) ‐ ‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $891.10 ‐ $891.10
4 NEWTON, Gary (Lieutenant) $388.39 ‐ $388.39
5 NICHOLS, Gerald (Battalion Chief) $746.49 ‐ $746.49
2 PARKS‐ANDREASON, Arlene (Widow) $471.70 ‐ $471.70
5 PHILLIPS, Bruce H. (Deputy Chief) $383.09 ‐ $383.09
1 PRINGLE, Barb $500.89 ‐ $500.89
1 PRINGLE, S. Joan (Widow) $3,326.24 ‐ $3,326.24
3 RIGGLE, Arduth S. (Widow) ‐ ‐ $0.00
4 RUPPRECHT, Jim (Firefighter D Step) $177.63 ‐ $177.63
1 SMITH, Shirley (Widow) $345.91 ‐ $345.91
1 STROM, Doris (Widow) $4,217.01 ‐ $4,217.01
1 TODD, Tess R. (Widow) $416.13 ‐ $416.13
2 TONDA, Lila Jean (Widow) $45.28 ‐ $45.28
4 VACCA, Nick (Lieutenant) $438.13 ‐ $438.13
1 WALLS, Camille (Widow) $118.11 ‐ $118.11
1 WEISS, Cheryl (Widow) $985.44 ‐ $985.44
Total Expenses: Pension/Medical $16,117.34 $0.00 $16,117.34
1 Widows ‐ Disability. Includes a 2% CPI increase effective July 1st, 2021 per RCW 41.16.145
2 Widows ‐ Service. Includes a 3.0% COLA Adj. Effective Janaury 1st, 2022.
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 3.0% COLA Adj. Effective Janaury 1st, 2022.
5 Retirees ‐ Service after 1969. Includes a 3.0% COLA Adj. Effective Janaury 1st, 2022.
Total Pension Payments for May, 2021 17,956.51
Total Medical Payments in May, 2021 0.00
Total Expenses: Medical/Pension 17,956.51
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 5/9/2022
AGENDA ITEM #5. b)