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HomeMy WebLinkAboutFinal Agenda PacketCITY OF RENTON FIREFIGHTER'S PENSION BOARD Regular Meeting 7th Floor-Mayor's Conference Room Thursday, July 16, 2015 2:00 P.M. 1. CALL TO ORDER 2. APPROVAL OF MINUTES OF MAY 21, 2015 3. CORRESPONDENCE 4. MONTHLY STATEMENTS FOR MAY 30 & JUNE 30, 2015 5. MONTHLY BILLS AND PENSION PAYMENTS Cost of Living Increase - Widows 6. UNFINISHED BUSINESS 7. NEW BUSINESS 8. ADJOURNMENT MINUTES FIREFIGHTER'S PENSION BOARD CITY OF RENTON May 21, 2015 Denis Law, Mayor Jason Seth, City Clerk Ray Barilleaux, Fire Department Representative Bruce Phillips, Fire Department Representative Jill Masunago, Finance Department Representative The regular meeting of the Firefighter's Pension Board was called to order by Mayor Denis Law at 2:04 p.m. in the Mayor's office, 7th floor of Renton City Hall. In attendance were Board members Mayor Law, City Clerk Jason Seth, Ray Barilleaux and Bruce Phillips, and Finance Department Representative Jill Masunago. MINUTES APPROVAL MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, THE PENSION BOARD APPROVE THE MINUTES OF THE MARCH 26, 2015 MEETING. CARRIED. MONTHLY STATEMENT The financial reports of March and April 2015 were reviewed. Total cash/investment balance was, as of April 30, 2015, $4,973.801.38. MONTHLY BILLS AND PENSION PAYMENTS MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, THE BOARD APPROVE THE PENSION/MEDICAL PAYMENTS OF$16,599.47 FOR APRIL 2015 AND $16,599.47 FOR MAY 2015 TO BE PAID BY THE FIREFIGHTER'S PENSION FUND. CARRIED. UNFINISHED BUSINESS Finance Department Representative Jill Masunago reported that the Firefighter's Pension Survey was sent to all 31 members earlier this year. She remarked that she heard from all but Charlie Anthony. Ms. Masunago added that all addresses are accounted for and correct. NEW BUSINESS None. ADJOURNMENT MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, THE MEETING OF THE FIREMEN'S PENSION BOARD BE ADJOURNED. CARRIED. Time: 2:07 p.m. 41 ason Seth, City Clerk Secretary, Firemen's Pension Board ADMINISTRATIVE SERVICES DEPT. p Q City of City Clerk Office enton *- MEMORANDUM DATE: July 16, 20154 TO: Members, Firefighter's Pension Board FROM: Jason Seth, City Clerk SUBJECT: Cost of Living Increase Payable July 1, 2015 - Widows Washington State Law (RCW 41.18.104) requires that the Firefighter's Pension Board meet each year for the purpose of adjusting benefit allowances for widows of firemen pensioned prior to the LEOFF Act (March 1970). The Board must determine benefits according to the increase in the Consumer Price Index for the previous calendar year for the Seattle, Washington area as compiled by the Bureau of Labor Statistics of the United States Department of Labor. The Bureau has updated its form for this year and has reported a 1.8% annual increase in the CPI percentage for All Urban Consumers in the Seattle area for 2014. A copy of the report is attached. RCW 41.16.145 requires a minimum increase of 2% annually, regardless of the Consumer Price Index. I recommend that the Board adopt a 2% increase, effective July 1, 2015. cc: Jill Masunaga, Finance Dept. 9. . 9 IF 1 • • :. ', : /' • 1 • , :II' • Western Information Office,90 7th St.,Suite 14-100,San Francisco,CA 94103 Information Staff(415)625-2270/Fax(415)625-2351 SEATTLE-TACOMA-BREMERTON 05/20/15 Consumer Price Index,All Items, 1982-84=100 for All Urban Consumers(CPI-U) SEMIANNUAL 1ST 2ND ANNUAL YEAR JAN FEB MARCH APRIL MAY JUNE JULY AUG SEPT OCT NOV DEC HALF HALF AVERAGE 1996 155.6 159.4 157.5 1997 165.0 161.9 164.1 163.0 1998 166.5 166.4 167.5 168.5 169.3 169.4 166.6 168.9 167.7 1999 170.6 172.2 172.7 173.4 174.7 174.4 171.6 174.0 172.8 2000 176.1 177.8 179.2 180.3 182.1 181.5 177.3 181.1 179.2 2001 184.0 184.2 186.3 186.8 187.9 186.1 184.4 186.9 185.7 2002 187.6 188.8 189.4 190.3 190.9 190.0 188.3 190.3 189.3 2003 191.3 192.3 191.7 194.4 193.7 191.0 191.6 193.1 192.3 2004 193.5 194.3 195.3 194.6 196.5 195.1 194.0 195.4 194.7 2005 197.6 201.3 199.8 199.9 203.3 200.9 199.2 201.3 200.2 2006 203.6 207.4 208.2 209.6 209.8 209.3 205.8 209.5 207.6 2007 211.7 215.8 215.5 216.0 218.4 219.0 213.8 217.5 215.7 2008 221.728 223.196 228.068 227.745 225.915 222.580 223.569 225.869 224.719 2009 224.737 225.918 227.257 227.138 226.277 225.596 225.580 226.475 226.028 2010 226.085 226.513 226.118 227.645 227.251 226.862 226.195 227.190 226.693 2011 229.482 231.314 233.250 233.810 235.916 234.812 230.815 234.715 232.765 2012 235.744 237.931 239.540 240.213 241.355 237.993 237.344 239.981 238.663 2013 239.898 240.823 242.820 242.767 242.787 241.055 240.777 242.350 241.563 2014 242.770 246.616 247.642 247.185 247.854 245.050 245.125 246.912 246.018 2015 245.496 247.611 Table of over-the-year percent increases. An entry for Feb.2006 indicates the percentage increase from Feb.2005 to Feb.2006. 1997 4.0 2.9 3.5 1998 2.7 2.9 2.9 2.9 1999 2.5 3.5 3.1 2.9 3.2 3.0 3.0 3.0 3.0 2000 3.2 3.3 3.8 4.0 4.2 4.1 3.3 4.1 3.7 2001 4.5 3.6 4.0 3.6 3.2 2.5 4.0 3.2 3.6 2002 2.0 2.5 1.7 1.9 1.6 2.1 2.1 1.8 1.9 2003 2.0 1.9 1.2 2.2 1.5 0.5 1.8 1.5 1.6 2004 1.2 1.0 1.9 0.1 1.4 2.1 1.3 1.2 1.2 2005 2.1 3.6 2.3 2.7 3.5 3.0 2.7 3.0 2.8 2006 3.0 3.0 4.2 4.9 3.2 4.2 3.3 4.1 3.7 2007 4.0 4.0 3.5 3.0 4.1 4.6 3.9 3.8 3.9 2008 4.7 3.4 5.8 5.4 3.4 1.7 4.6 3.8 4.2 2009 1.4 1.2 0.4 0.3 0.2 1.4 0.9 0.3 0.6 2010 0.6 0.3 0.5 0.2 0.4 0.6 0.3 0.3 0.3 2011 1.5 2.1 3.2 2.7 3.8 3.5 2.0 3.3 2.7 2012 2.7 2.9 2.7 2.7 2.3 1.4 2.8 2.2 2.5 2013 1.8 1.2 1.4 1.1 0.6 1.3 1.4 1.0 1.2 2014 1.2 2.4 2.0 1.8 2.1 1.7 1.8 1.9 1.8 2015 1.1 0.4 U.S.DEPARTMENT OF LABOR,BUREAU OF LABOR STATISTICS Western Information Office,90 7th St., Suite 14-100,San Francisco,CA 94103 Information Staff(415)625-2270/Fax(415)625-2351 SEATTLE-TACOMA-BREMERTON 05/20/15 Consumer Price Index,All Items, 1982-84=100 for Urban Wage Earners and Clerical Workers(CPI-W) SEMIANNUAL 1ST 2ND ANNUAL YEAR JAN FEB MARCH APRIL MAY JUNE JULY AUG SEPT OCT NOV DEC HALF HALF AVERAGE 1996 152.6 155.9 154.3 1997 160.6 158.2 159.9 159.0 1998 162.2 161.9 162.8 163.8 164.9 164.9 162.1 164.4 163.2 1999 166.0 167.8 168.0 168.8 170.2 170.1 167.0 169.5 168.3 2000 171.6 173.3 174.5 175.4 177.5 177.0 172.8 176.4 174.6 2001 179.2 179.4 181.3 181.5 183.1 181.1 179.6 181.9 180.8 2002 182.5 183.6 184.1 184.8 185.5 184.6 183.1 184.9 184.0 2003 186.2 187.0 185.7 188.2 187.8 185.3 186.2 187.1 186.7 2004 187.8 189.1 190.4 189.6 191.6 190.3 188.7 190.5 189.6 2005 192.4 196.2 194.8 195.3 198.6 196.1 194.1 196.5 195.3 2006 198.0 202.5 203.8 205.1 203.9 204.3 200.8 204.4 202.6 2007 205.7 210.4 210.6 210.2 213.1 214.0 208.4 212.2 210.3 2008 216.332 218.483 223.573 223.273 220.687 216.424 218.664 220.721 219.692 2009 218.752 220.208 221.993 221.873 221.339 220.905 219.853 221.463 220.658 2010 221.215 222.309 221.857 223.444 223.112 222.853 221.714 223.053 222.384 2011 225.790 228.313 230.072 230.558 232.697 231.297 227.455 231.415 229.435 2012 232.081 234.808 236.222 236.750 237.947 234.588 233.959 236.564 235.261 2013 236.542 237.405 238.963 239.343 239.363 238.021 237.271 238.987 238.129 2014 239.607 243.690 244.293 244.471 244.289 240.726 242.006 243.458 242.732 2015 240.735 243.165 Table of over-the-year percent increases. An entry for Feb.2006 indicates the percentage increase from Feb.2005 to Feb.2006. 1997 3.7 2.6 3.0 1998 2.7 2.5 2.8 2.6 1999 2.3 3.6 3.2 3.1 3.2 3.2 3.0 3.1 3.1 2000 3.4 3.3 3.9 3.9 4.3 4.1 3.5 4.1 3.7 2001 4.4 3.5 3.9 3.5 3.2 2.3 3.9 3.1 3.6 2002 1.8 2.3 1.5 1.8 1.3 1.9 1.9 1.6 1.8 2003 2.0 1.9 0.9 1.8 1.2 0.4 1.7 1.2 1.5 2004 0.9 1.1 2.5 0.7 2.0 2.7 1.3 1.8 1.6 2005 2.4 3.8 2.3 3.0 3.7 3.0 2.9 3.1 3.0 2006 2.9 3.2 4.6 5.0 2.7 4.2 3.5 4.0 3.7 2007 3.9 3.9 3.3 2.5 4.5 4.8 3.8 3.8 3.8 2008 5.1 3.8 6.2 6.2 3.6 1.1 4.9 4.0 4.5 2009 1.1 0.8 0.7 0.6 0.3 2.1 0.5 0.3 0.4 2010 1.1 1.0 0.1 0.7 0.8 0.9 0.8 0.7 0.8 2011 2.1 2.7 3.7 3.2 4.3 3.8 2.6 3.7 3.2 2012 2.8 2.8 2.7 2.7 2.3 1.4 2.9 2.2 2.5 2013 1.9 1.1 1.2 1.1 0.6 1.5 1.4 1.0 1.2 2014 1.3 2.6 2.2 2.1 2.1 1.1 2.0 1.9 1.9 2015 0.5 0.2 CITY OF RENTON - FIREMEN'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF MAY 31, 2015 Fireman's Pension Fund Comparison of Cash and Investment Activity 6 2015 2014 5 In m Winnirini I04 0 11111111w0 c 3 0 2 1 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec CURRENT 2015 2015 LAST YEAR 2014 2014 ACTIVITY:MONTH YTD BUDGET CURR MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE $4,973,801.38 $5,040,981.49 $4,675,053 $4,732,554.60 $4,790,246.57 $4,615,528 RECEIPTS: Fire Insurance Premium Tax 146,358.02 146,358.02 143,000 142,705.88 142,705.88 100,000 Investment Interest 867.82 5,096.19 325,000 744.92 312,909.53 200,000 DISBURSEMENTS: Fire Pension 16,599.47 88,007.95 200,000 14,169.23 204,405.49 225,000 Fire Pension Medical 0.00 0.00 0 0.00 0.00 0 Office/Operating Supplies 0.00 0.00 475 0.00 475.00 475 Actuarial/Firemen's Pens 0.00 0.00 10,000 0.00 0.00 15,000 ENDING CASH/INV BALANCE $5,104,427.75 $5,104,427.75 $4,932,578 $4,861,836.17 $5,040,981.49 $4,675,053 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool 2,374,836.08 $2,498,101.67 $2,718,601.29 $2,600,748.83 INVESTMENTS: Federal National Mortgage Assn 852,855.63 599,278.13 99,555.84 99,555.84 Treasury Strips&Zero Coupon Bonds 1,868,831.88 1,868,831.88 2,038,263.18 2,038,263.18 Interest Receivable 7,904.16 7.589.70 5,415.86 7,986.72 TOTAL CASH AND INVESTMENTS 5,104,427.75 $4,973,801.38 $4,861,836.17 $4,746,554.57 The State Investment Pool interest 0.1428'„ 0.1430 0.0920% 0.1138% H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension_2015.xls\May15 Page 1 6/22/2015 CITY OF RENTON - FIREMEN'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF JUNE 30, 2015 Fireman's Pension Fund Comparison of Cash and Investment Activity 6 2015 2014 wII III 6.on 0 4 0 tn i 1 II II 11 II IIc3o 2o 11 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec CURRENT 2015 2015 LAST YEAR 2014 2014 ACTIVITY:MONTH YTD BUDGET CURR MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE $5,104,427.75 $5,040,981.49 $4,675,053 $4,861,836.17 $4,790,246.57 $4,615,528 RECEIPTS: Fire Insurance Premium Tax 0.00 146,358.02 143,000 0.00 142,705.88 100,000 Investment Interest 1,009.94 6,106.13 325,000 551.34 312,909.53 200,000 DISBURSEMENTS: Fire Pension 16,599.47 104,607.42 200,000 14,169.23 204,405.49 225,000 Fire Pension Medical 0.00 0.00 0 0.00 0.00 0 Office/Operating Supplies 0.00 0.00 475 0.00 475.00 475 Actuarial/Firemen's Pens 0.00 0.00 10,000 0.00 0.00 15,000 ENDING CASH/INV BALANCE $5,088,838.22 $5,088,838.22 $4,932,578 $4,848,218.28 $5,040,981.49 $4,675,053 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool 2,358,260.72 $2,374,836.08 $2,704,902.58 $2,718,601.29 INVESTMENTS: Federal National Mortgage Assn 852,855.63 852,855.63 99,555.84 99,555.84 Treasury Strips&Zero Coupon Bonds 1,868,831.88 1,868,831.88 2,038,263.18 2,038,263.18 Interest Receivable 8,889.99 7,904.16 5,496.68 5,415.86 TOTAL CASH AND INVESTMENTS 5,088,838.22 $5,104,427.75 $4,848,218.28 $4,861,836.17 The State Investment Pool interest 0.1688% 0.1428% 0.0870% 0.0920% H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension_2015.xls\Jun15 Page 1 7/10/2015 FIREMEN'S PENSION BOARD PENSION/MEDICAL PAYMENTS FOR JUNE, 2015 Recipient Pension Amt Medical Total ANKENY, Charlie(Captain) 88.90 88.90 BARILLEAUX, Ray(Battalion Chief) BEATTEAY, Karlen (Widow) 210.05 210.05 BERGMAN, Claudette(Widow) 125.02 125.02 CHRISTENSON, Chuck(Firefighter) 233.37 233.37 GEISSLER, Dick(Fire Chief) GOODWIN, Kathryn Lorayne(Widow) 1,066.46 1,066.46 HAWORTH, Constance(Widow) 3,250.93 3,250.93 JONES, Evelyn M. (Widow) 228.64 228.64 LARSON, William (Firefighter) LAVALLEY,Theodele(Captain) 337.73 337.73 MATTHEW,James(Deputy Chief) MC LAUGHLIN, Barbara M. (Widow) 928.08 928.08 NEWTON, Gary(Lieutenant)247.46 247.46 NICHOLS, Gerald (Battalion Chief) 437.10 437.10 PARKS-ANDREASON,Arlene(Widow) 209.18 209.18 PHILLIPS, Bruce H. (Deputy Chief) 97.86 97.86 PRINGLE,Arthur(Captain) 469.85 469.85 PRINGLE, S.Joan (Widow) 2,792.91 2,792.91 RIGGLE, David E. (Firefighter D Step) 45.40 45.40 RUPPRECHT,Jim (Firefighter D Step) 84.00 84.00 SMITH, Leroy(Firefighter) 407.60 407.60 STROM, Doris(Widow) 3,565.25 3,565.25 TODD,Tess R. (Widow) 473.72 473.72 TONDA, Lila Jean (Widow) VACCA, Nick(Lieutenant) 292.75 292.75 WALLS, Camille(Widow) 112.66 112.66 WALLS, Mercedes(Widow) WEISS, Cheryl (Widow) 674.97 674.97 WILLIAMS,Alta (Widow) WOOTEN, Marilyn E. (Widow) 219.58 219.58 Total Expenses: Pension/Medical 16,599.47 0.00 16,599.47 Prior Year Pension/Medical Payments: Total Pension Payments for June, 2014 14,169.23 Total Medical Bills Reimbursed in June, 2014 0.00 Total Expenses: Medical/Pension 14,169.23 6/8/20154_SUMMARY 2015.xls FIREMEN'S PENSION BOARD PENSION/MEDICAL PAYMENTS FOR JULY, 2015 Recipient Pension Amt Medical Total ANKENY, Charlie(Captain) 88.90 88.90 BARILLEAUX, Ray(Battalion Chief) BEATTEAY, Karlen (Widow) 210.05 210.05 BERGMAN, Claudette (Widow) 125.02 125.02 CHRISTENSON, Chuck(Firefighter) 233.37 233.37 GEISSLER, Dick(Fire Chief) GOODWIN, Kathryn Lorayne(Widow) 1,066.46 1,066.46 HAWORTH, Constance(Widow) 3,315.95 3,315.95 JONES, Evelyn M. (Widow) 228.64 228.64 LARSON, William (Firefighter) LAVALLEY,Theodele(Captain) 337.73 337.73 MATTHEW,James(Deputy Chief) MC LAUGHLIN, Barbara M. (Widow)928.08 928.08 NEWTON, Gary(Lieutenant)247.46 247.46 NICHOLS, Gerald (Battalion Chief) 437.10 437.10 PARKS-ANDREASON,Arlene (Widow) 209.18 209.18 PHILLIPS, Bruce H. (Deputy Chief) 97.86 97.86 PRINGLE,Arthur(Captain) 469.85 469.85 PRINGLE,S.Joan (Widow) 2,848.77 2,848.77 RIGGLE, David E. (Firefighter D Step) 45.40 45.40 RUPPRECHT,Jim (Firefighter D Step) 84.00 84.00 SMITH, Leroy(Firefighter) 407.60 407.60 STROM, Doris(Widow) 3,636.56 3,636.56 TODD,Tess R. (Widow) 473.72 473.72 TONDA, Lila Jean (Widow) VACCA, Nick(Lieutenant) 292.75 292.75 WALLS, Camille (Widow) 112.66 112.66 WALLS, Mercedes(Widow) WEISS, Cheryl (Widow) 674.97 674.97 WILLIAMS,Alta (Widow) WOOTEN, Marilyn E. (Widow) 219.58 219.58 Total Expenses: Pension/Medical 16,791.66 0.00 $16,791.66 Received a 2.00 CPI increase effective July 1 per RCW 41.16.145. Prior Year Pension/Medical Payments: Total Pension Payments for July, 2014 16,144.55 Total Medical Bills Reimbursed in July, 2014 0.00 Total Expenses: Medical/Pension 16,144.55 4_SUMMARY 2015.xls 7/9/2015