HomeMy WebLinkAboutFinal Agenda Packet
AGENDA
Firefighters' Pension Board Meeting
2:00 PM - Thursday, January 26, 2023
7th Floor Council Conference Room 720, City Hall – 1055 S. Grady Way
1. CALL TO ORDER
2. APPROVAL OF MINUTES
a) November 21, 2022
3. CORRESPONDENCE
4. MONTHLY STATEMENTS
a) October 2022
b) November 2022
c) December 2022
5. MONTHLY BILLS AND PENSION PAYMENTS
a) December 2022
b) January 2023
6. UNFINISHED BUSINESS
a) Ray Barilleaux reelected to Firefighters’ Pension Board. Term 1/1/2023 – 12/31/2024.
7. NEW BUSINESS
8. ADJOURNMENT
MINUTES
FIREFIGHTERS’ PENSION BOARD
CITY OF RENTON
November 21, 2022
________________________________________________________________________
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, Finance Administrator
Sean Hollingsworth, Finance Representative
________________________________________________________________________
The regular meeting of the Firefighters’ Pension Board was called to order by Mayor Armondo
Pavone at 2:32 p.m. In attendance were Armondo Pavone, Mayor; Valerie O’Halloran, Finance
Committee Chair; City Clerk Jason Seth; and Fire Department Representatives Ray Barilleaux and
Bruce Phillips. Additionally, Kari Roller, Finance Administrator and Sean Hollingsworth, Finance
Department Representative, were in attendance.
MINUTES APPROVAL
MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, THE PENSION BOARD APPROVE THE MINUTES
OF THE SEPTEMBER 22, 2022 MEETING. CARRIED.
MONTHLY STATEMENT
The August 2022 and September 2022 financial reports were reviewed. Total cash/investment
balance was, as of September, 2022, $8,423,567.44.
MONTHLY BILLS AND PENSION PAYMENTS
MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, THE BOARD APPROVE THE PENSION/MEDICAL
PAYMENTS OF $18,660.26 FOR OCTOBER 2022, AND $18,660.26 FOR NOVEMBER 2022, TO BE
PAID BY THE FIREFIGHTERS’ PENSION FUND. CARRIED.
NEW BUSINESS
The Renton Regional Fire Authority mailed out ballots for the re-election of Ray Barilleaux to
serve as Fire Department Representative for the term January 1, 2023 through December 31,
2024. We will know the results of the election at the January meeting.
ADJOURNMENT
Mayor Pavone adjourned the meeting at 2:39 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 OCTOBER 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 8,423,567.44 8,371,183.05 8,082,836.54 8,086,548.36 7,908,311.54 7,908,312.00
RECEIPTS:
Fire Insurance Premium Tax 0.00 182,840.98 165,000.00 0.00 171,853.42 160,000.00
Investment Interest 10,377.96 50,233.41 125,000.00 1,791.47 530,397.79 225,000.00
DISBURSEMENTS:
Fire Pension 18,660.26 185,472.30 200,000.00 18,943.66 227,254.70 200,000.00
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 3,500.00 0.00 0.00 12,125.00 10,000.00
ENDING CASH/INV BALANCE $8,415,285.14 $8,415,285.14 $8,172,362 $8,069,396.17 $8,371,183.05 $8,082,837
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $7,806,693.46 $7,817,073.49 $7,363,435.18 $7,382,443.78
INVESTMENTS:
Federal National Mortgage Assn 0.00 0.00 0.00 0.00
Treasury Strips & Zero Coupon Bonds 600,333.41 600,333.41 698,844.16 698,844.16
Interest Receivable 8,258.27 6,160.54 7,116.83 5,260.42
TOTAL CASH AND INVESTMENTS $8,415,285.14 $8,423,567.44 $8,069,396.17 $8,086,548.36
The State Investment Pool interest 3.0336% 2.5613% 0.0938% 0.0870%
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\Oct 22 Page 1 1/17/2023
AGENDA ITEM #4. a)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF NOVEMBER 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 8,415,285.14 8,371,183.05 8,082,836.54 8,069,396.17 7,908,311.54 7,908,312.00
RECEIPTS:
Fire Insurance Premium Tax 0.00 182,840.98 165,000.00 0.00 171,853.42 160,000.00
Investment Interest 332,406.89 382,640.30 125,000.00 328,241.81 530,397.79 225,000.00
DISBURSEMENTS:
Fire Pension 18,660.26 204,132.56 200,000.00 18,943.66 227,254.70 200,000.00
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 3,500.00 0.00 0.00 12,125.00 10,000.00
ENDING CASH/INV BALANCE $8,729,031.77 $8,729,031.77 $8,172,362 $8,378,694.32 $8,371,183.05 $8,082,837
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $8,209,037.14 $7,806,693.46 $7,771,110.64 $7,363,435.18
INVESTMENTS:
Federal National Mortgage Assn 0.00 0.00 0.00 0.00
Treasury Strips & Zero Coupon Bonds 510,740.11 600,333.41 600,333.41 698,844.16
Interest Receivable 9,254.52 8,258.27 7,250.27 7,116.83
TOTAL CASH AND INVESTMENTS $8,729,031.77 $8,415,285.14 $8,378,694.32 $8,069,396.17
The State Investment Pool interest 3.7566% 3.0336% 0.0861% 0.0938%
5.50
6.00
6.50
7.00
7.50
8.00
8.50
9.00
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillions of Dollars2022 2021
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\Nov 22 Page 1 1/17/2023
AGENDA ITEM #4. b)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF DECEMBER 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 8,729,031.77 8,371,183.05 8,082,836.54 8,378,694.32 7,908,311.54 7,908,312.00
RECEIPTS:
Fire Insurance Premium Tax 0.00 182,840.98 165,000.00 0.00 171,853.42 160,000.00
Investment Interest 13,432.78 396,073.08 125,000.00 11,432.39 530,397.79 225,000.00
DISBURSEMENTS:
Fire Pension 18,660.26 222,792.82 200,000.00 18,943.66 227,254.70 200,000.00
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 3,500.00 0.00 0.00 12,125.00 10,000.00
ENDING CASH/INV BALANCE $8,723,804.29 $8,723,804.29 $8,172,362 $8,371,183.05 $8,371,183.05 $8,082,837
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $8,203,715.42 $8,209,037.14 $7,765,724.31 $7,771,110.64
INVESTMENTS:
Federal National Mortgage Assn 0.00 0.00 0.00 0.00
Treasury Strips & Zero Coupon Bonds 510,740.11 510,740.11 600,333.41 600,333.41
Interest Receivable 9,348.76 9,254.52 5,125.33 7,250.27
TOTAL CASH AND INVESTMENTS $8,723,804.29 $8,729,031.77 $8,371,183.05 $8,378,694.32
The State Investment Pool interest 4.1194% 3.7566% 0.0907% 0.0861%
5.50
6.00
6.50
7.00
7.50
8.00
8.50
9.00
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillions of Dollars2022 2021
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt.xls\Dec 22 Page 1 1/18/2023
AGENDA ITEM #4. c)
FIREFIGHTERS' PENSION BOARD
PENSION/MEDICAL PAYMENTS FOR DECEMBER 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) $259.66 ‐ $259.66
4 CHRISTENSON, Chuck (Firefighter) $368.37 ‐ $368.37
5 GEISSLER, Dick (Fire Chief) $11.72 ‐ $11.72
1 GOODWIN, Kathryn Lorayne (Widow) $1,408.99 ‐ $1,408.99
1 JONES, Evelyn M. (Widow) $527.21 ‐ $527.21
4 LAVALLEY, Theodele (Captain) $507.44 ‐ $507.44
5 MATTHEW, James (Deputy Chief) ‐ ‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $1,216.63 ‐ $1,216.63
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 $756.63 ‐ $756.63
1 PRINGLE, S. Joan (Widow) $3,479.25 ‐ $3,479.25
3 RIGGLE, Arduth S. (Widow) $93.75 ‐ $93.75
4 RUPPRECHT, Jim (Firefighter D Step) $177.63 ‐ $177.63
1 SMITH, Shirley (Widow) $528.01 ‐ $528.01
1 STROM, Doris (Widow) $4,410.99 ‐ $4,410.99
1 TODD, Tess R. (Widow) $597.81 ‐ $597.81
2 TONDA, Lila Jean (Widow) $45.28 ‐ $45.28
4 VACCA, Nick (Lieutenant) $438.13 ‐ $438.13
1 WALLS, Camille (Widow) $316.95 ‐ $316.95
1 WEISS, Cheryl (Widow) $1,317.72 ‐ $1,317.72
Total Expenses: Pension/Medical $18,660.26 $0.00 $18,660.26
1 Widows ‐ Disability. Includes a 4.6% CPI increase effective July 1st, 2022 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 4.6% CPI increase effective July 1st, 2022 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 December, 2021 18,943.66
Total Medical Payments in December, 2021 0.00
Total Expenses: Medical/Pension 18,943.66
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 12/5/2022
AGENDA ITEM #5. a)
FIREFIGHTERS' PENSION BOARD
PENSION/MEDICAL PAYMENTS FOR JANUARY 2023
Recipient Pension Amt Benefit Total
4 ANKENY, Charlie (Captain) $208.42 ‐ $208.42
5 BARILLEAUX, Ray (Battalion Chief) ‐ ‐ $0.00
1 BERGMAN, Claudette (Widow) $259.66 ‐ $259.66
4 CHRISTENSON, Chuck (Firefighter) $368.37 ‐ $368.37
5 GEISSLER, Dick (Fire Chief) $11.72 ‐ $11.72
1 GOODWIN, Kathryn Lorayne (Widow) $1,408.99 ‐ $1,408.99
1 JONES, Evelyn M. (Widow) $527.21 ‐ $527.21
4 LAVALLEY, Theodele (Captain) $507.44 ‐ $507.44
5 MATTHEW, James (Deputy Chief) ‐ ‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $1,216.63 ‐ $1,216.63
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 $756.63 ‐ $756.63
1 PRINGLE, S. Joan (Widow) $3,479.25 ‐ $3,479.25
3 RIGGLE, Arduth S. (Widow) $93.75 ‐ $93.75
4 RUPPRECHT, Jim (Firefighter D Step) $177.63 ‐ $177.63
1 SMITH, Shirley (Widow) $528.01 ‐ $528.01
1 STROM, Doris (Widow) $4,410.99 ‐ $4,410.99
1 TODD, Tess R. (Widow) $597.81 ‐ $597.81
2 TONDA, Lila Jean (Widow) $45.28 ‐ $45.28
4 VACCA, Nick (Lieutenant) $438.13 ‐ $438.13
1 WALLS, Camille (Widow) $316.95 ‐ $316.95
1 WEISS, Cheryl (Widow) $1,317.72 ‐ $1,317.72
Total Expenses: Pension/Medical $18,660.26 $0.00 $18,660.26
1 Widows ‐ Disability. Includes a 4.6% CPI increase effective July 1st, 2022 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 4.6% CPI increase effective July 1st, 2022 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 January, 2022 20,826.44
Total Medical Payments in January, 2022 0.00
Total Expenses: Medical/Pension 20,826.44
Prior Year Pension/Medical Payments:
4_SUMMARY.xls 1/4/2023
AGENDA ITEM #5. b)
Page | 1
TO: Jason Seth, City Clerk
FROM: Steven C. Heitman, Fire Chief ______
DATE: December 2, 2022
SUBJECT: Firefighter’s Pension Board Voting Results
An election was conducted to fill the vacancy created by the expiration of Ray Barilleaux’s term as
Renton RFA’s representative on the City of Renton Firemen’s Pension Board.
By unanimous vote, Ray Barilleaux has been re‐elected for this two‐year term of office effective
from January 1, 2023 – December 31, 2024.
Thank you!
SH/cn
c: Mark Seaver, Deputy Chief, Safety & Support Services
Chuck DeSmith, Deputy Chief, EMS/Health & Safety
Samantha Babich, Chief Administration Officer
Signature:
Email:
SH
SH
Steven C Heitman (Dec 2, 2022 14:26 PST)
Steven C Heitman
steve.heitman@rentonrfa.org
AGENDA ITEM #6. a)