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AGENDA
Firefighters' Pension Board Meeting
2:00 PM - Thursday, July 20, 2023
Council Conference Room, 7th Floor, City Hall – 1055 S. Grady Way
1. CALL TO ORDER
2. APPROVAL OF MINUTES
a) May 24, 2023
3. CORRESPONDENCE
4. MONTHLY STATEMENTS
a) April 2023
b) May 2023
5. MONTHLY BILLS AND PENSION PAYMENTS
a) June 2023
b) July 2023
6. UNFINISHED BUSINESS
7. NEW BUSINESS
8. ADJOURNMENT
MINUTES
FIREFIGHTERS’ PENSION BOARD
CITY OF RENTON
May 24, 2023
________________________________________________________________________
Armondo Pavone, Mayor
Ruth Pérez, Finance Committee Chair - absent
Jason Seth, City Clerk
Ray Barilleaux, Fire Department Representative
Bruce Phillips, Fire Department Representative
Sean Hollingsworth, Finance Representative
________________________________________________________________________
The regular meeting of the Firefighters’ Pension Board was called to order by Mayor Armondo
Pavone at 1:03 p.m. In attendance were Armondo Pavone, Mayor; City Clerk Jason Seth; and
Fire Department Representatives Ray Barilleaux, Bruce Phillips, and Chuck Christenson.
Additionally, Sean Hollingsworth, Finance Department Representative, was in attendance.
MINUTES APPROVAL
MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, THE PENSION BOARD APPROVE THE MINUTES
OF THE MARCH 23, 2023 MEETING. CARRIED.
MONTHLY STATEMENT
The February and March 2023 financial reports were reviewed. Total cash/investment balance
was, as of March 2023, $8,705,803.92.
MONTHLY BILLS AND PENSION PAYMENTS
MOVED BY BARILLEAUX, PHILLIPS, THE BOARD APPROVE THE PENSION/MEDICAL PAYMENTS OF
$16,377.87 FOR APRIL 2023, AND $16,377.87 FOR MAY 2023, TO BE PAID BY THE FIREFIGHTERS’
PENSION FUND. CARRIED.
ADJOURNMENT The presentation regarding the Firefighters’ Pension Board history was postponed until the next
meeting.
ADJOURNMENT
Mayor Pavone adjourned the meeting at 1:07 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 APRIL 30, 2023
Firefighter's Pension Fund Comparison of Cash and Investment Activity
CURRENT 2023 2023 LAST YEAR 2022 2022
ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET
BEGINNING CASH/INV BALANCE 8,705,803.92 8,733,790.97 8,460,708.00 8,314,587.00 8,371,183.05 8,082,836.54
RECEIPTS:
Fire Insurance Premium Tax 0.00 0.00 175,000.00 0.00 182,840.98 165,000.00
Investment Interest 21,438.46 69,650.97 225,000.00 2,735.36 406,059.76 125,000.00
DISBURSEMENTS:
Fire Pension 16,046.55 92,246.11 240,000.00 16,117.34 222,792.82 200,000.00
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 13,000.00 0.00 3,500.00 0.00
ENDING CASH/INV BALANCE $8,711,195.83 $8,711,195.83 $8,607,233 $8,301,205.02 $8,733,790.97 $8,172,362
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $8,187,052.67 $8,183,662.24 $7,693,202.98 $7,708,135.42
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 13,403.05 11,401.57 7,668.63 6,118.17
TOTAL CASH AND INVESTMENTS $8,711,195.83 $8,705,803.92 $8,301,205.02 $8,314,587.00
The State Investment Pool interest 4.9273% 4.7698% 0.4048% 0.2253%
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 Dollars2023 2022
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\Apr 23 Page 1 7/13/2023
AGENDA ITEM #4. a)
CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF MAY 31, 2023
Firefighter's Pension Fund Comparison of Cash and Investment Activity
CURRENT 2023 2023 LAST YEAR 2022 2022
ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET
BEGINNING CASH/INV BALANCE 8,711,195.83 8,733,790.97 8,460,708.00 8,301,205.02 8,371,183.05 8,082,836.54
RECEIPTS:
Fire Insurance Premium Tax 199,566.32 199,566.32 175,000.00 182,840.98 182,840.98 165,000.00
Investment Interest 22,757.19 92,408.16 225,000.00 3,625.04 406,059.76 125,000.00
DISBURSEMENTS:
Fire Pension 16,377.87 108,623.98 240,000.00 16,117.34 222,792.82 200,000.00
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 13,000.00 3,500.00 3,500.00 0.00
ENDING CASH/INV BALANCE $8,917,141.47 $8,917,141.47 $8,607,233 $8,468,053.70 $8,733,790.97 $8,172,362
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH/State Investment Pool $8,387,621.91 $8,187,052.67 $7,859,906.10 $7,693,202.98
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 18,779.45 13,403.05 7,814.19 7,668.63
TOTAL CASH AND INVESTMENTS $8,917,141.47 $8,711,195.83 $8,468,053.70 $8,301,205.02
The State Investment Pool interest 5.1498% 4.9273% 0.7044% 0.4048%
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 Dollars2023 2022
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\May 23 Page 1 7/13/2023
AGENDA ITEM #4. b)
FIREFIGHTERS' PENSION BOARD
PENSION/RETRO PAYMENTS FOR JUNE 2023
Recipient Pension Amt Retro Total
4 ANKENY, Charlie (Captain) $321.41 ‐ $321.41
5 BARILLEAUX, Ray (Battalion Chief)‐‐ $0.00
1 BERGMAN, Claudette (Widow)‐‐ $0.00
4 CHRISTENSON, Chuck (Firefighter) $482.86 ‐ $482.86
1 GOODWIN, Kathryn Lorayne (Widow) $1,054.70 ‐ $1,054.70
1 JONES, Evelyn M. (Widow) $169.08 ‐ $169.08
4 LAVALLEY, Theodele (Captain) $646.78 ‐ $646.78
5 MATTHEW, James (Deputy Chief)‐‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $671.69 ‐ $671.69
4 NEWTON, Gary (Lieutenant) $506.86 ‐ $506.86
5 NICHOLS, Gerald (Battalion Chief) $921.28 ‐ $921.28
2 PARKS‐ANDREASON, Arlene (Widow) $602.87 ‐ $602.87
5 PHILLIPS, Bruce H. (Deputy Chief) $547.67 ‐ $547.67
1 PRINGLE, Barb $310.97 ‐ $310.97
1 PRINGLE, S. Joan (Widow) $3,479.25 ‐ $3,479.25
3 RIGGLE, Arduth S. (Widow)‐‐ $0.00
4 RUPPRECHT, Jim (Firefighter D Step) $264.61 ‐ $264.61
1 SMITH, Shirley (Widow) $209.73 ‐ $209.73
1 STROM, Doris (Widow) $4,410.99 ‐ $4,410.99
1 TODD, Tess R. (Widow) $286.53 ‐ $286.53
2 TONDA, Lila Jean (Widow) $165.12 ‐ $165.12
4 VACCA, Nick (Lieutenant) $557.31 ‐ $557.31
1 WALLS, Camille (Widow)‐‐ $0.00
1 WEISS, Cheryl (Widow) $768.16 ‐ $768.16
Total Expenses: Pension/Medical $16,377.87 $0.00 $16,377.87
1 Widows ‐ Disability. Includes a 4.6% CPI increase effective July 1st, 2022 per RCW 41.16.145
2 Widows ‐ Service. Includes a 10.49% COLA Adj. Effective Janaury 1st, 2023.
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 10.49% COLA Adj. Effective Janaury 1st, 2023.
5 Retirees ‐ Service after 1969. Includes a 10.49% COLA Adj. Effective Janaury 1st, 2023.
Total Pension Payments for June, 2022 16,117.34
Total Medical Payments in June, 2022 0.00
Total Expenses: Medical/Pension 16,117.34
Prior Year Pension/Medical Payments:
4_SUMMARY 6/1/2023
AGENDA ITEM #5. a)
FIREFIGHTERS' PENSION BOARD
PENSION/RETRO PAYMENTS FOR JULY 2023
Recipient Pension Amt Retro Total
4 ANKENY, Charlie (Captain) $321.41 ‐ $321.41
5 BARILLEAUX, Ray (Battalion Chief)‐‐ $0.00
1 BERGMAN, Claudette (Widow) $290.55 ‐ $290.55
4 CHRISTENSON, Chuck (Firefighter) $482.86 ‐ $482.86
1 GOODWIN, Kathryn Lorayne (Widow) $1,543.44 ‐ $1,543.44
1 JONES, Evelyn M. (Widow) $582.39 ‐ $582.39
4 LAVALLEY, Theodele (Captain) $646.78 ‐ $646.78
5 MATTHEW, James (Deputy Chief)‐‐ $0.00
1 MC LAUGHLIN, Barbara M. (Widow) $1,337.89 ‐ $1,337.89
4 NEWTON, Gary (Lieutenant) $506.86 ‐ $506.86
5 NICHOLS, Gerald (Battalion Chief) $921.28 ‐ $921.28
2 PARKS‐ANDREASON, Arlene (Widow) $602.87 ‐ $602.87
5 PHILLIPS, Bruce H. (Deputy Chief) $547.67 ‐ $547.67
1 PRINGLE, Barb $834.35 ‐ $834.35
1 PRINGLE, S. Joan (Widow) $3,792.38 ‐ $3,792.38
3 RIGGLE, Arduth S. (Widow) $110.03 ‐ $110.03
4 RUPPRECHT, Jim (Firefighter D Step) $264.61 ‐ $264.61
1 SMITH, Shirley (Widow) $582.40 ‐ $582.40
1 STROM, Doris (Widow) $4,807.98 ‐ $4,807.98
1 TODD, Tess R. (Widow) $658.33 ‐ $658.33
2 TONDA, Lila Jean (Widow) $165.12 ‐ $165.12
4 VACCA, Nick (Lieutenant) $557.31 ‐ $557.31
1 WALLS, Camille (Widow) $353.47 ‐ $353.47
1 WEISS, Cheryl (Widow) $1,448.17 ‐ $1,448.17
Total Expenses: Pension/Medical $21,358.15 $0.00 $21,358.15
1 Widows ‐ Disability. Includes a 9.0% CPI increase effective July 1st, 2023 per RCW 41.16.145
2 Widows ‐ Service. Includes a 10.49% COLA Adj. Effective Janaury 1st, 2023.
3 Widows ‐ Service prior to 1969. Includes a 9.0% CPI increase effective July 1st, 2023 per RCW41.16.145
4 Retirees ‐ Disability after 1961. Includes a 10.49% COLA Adj. Effective Janaury 1st, 2023.
5 Retirees ‐ Service after 1969. Includes a 10.49% COLA Adj. Effective Janaury 1st, 2023.
Total Pension Payments for July, 2022 18,660.22
Total Medical Payments in July, 2022 0.00
Total Expenses: Medical/Pension 18,660.22
Prior Year Pension/Medical Payments:
4_SUMMARY 7/6/2023
AGENDA ITEM #5. b)