HomeMy WebLinkAboutFinal Agenda Packet-� CITY OF
enton
AGENDA
Firefighters' Pension Board Meeting
2:00 PM - Thursday, March 21, 2019
Mayor's Conference Room, 7th Floor, City Hall — 1055 S. Grady Way
1. CALL TO ORDER
2. APPROVAL OF MINUTES
a) January 17, 2019
3. CORRESPONDENCE
4. MONTHLY STATEMENTS
a) January 2019
b) February 2019
S. MONTHLY BILLS AND PENSION PAYMENTS
a) February 2019
b) March 2019
6. UNFINISHED BUSINESS
7. NEW BUSINESS
8. ADJOURNMENT
AGENDA ITEM #2. a)
MINUTES
FIREFIGHTERS' PENSION BOARD
CITY OF RENTON
January 17, 2019
Denis Law, Mayor - ABSENT
Armondo Pavone, Finance Committee Chair —ABSENT
Jason Seth, City Clerk
Ray Barilleaux, Fire Department Representative
Bruce Phillips, Fire Department Representative —ABSENT
Chuck Christenson, Alternate Fire Department Representative
Jamie Thomas, Fiscal Services Director
Sean Hollingsworth, Finance Representative
The regular meeting of the Firefighters' Pension Board was called to order by Ray Barilleaux, Fire
Department Representative at 2:02 p.m. in the Mayor's office, 7th floor of Renton City Hall. In
attendance were Board members Fire Department Representatives Ray Barilleaux, Chuck
Christenson, and City Clerk Jason Seth. Additionally, Fiscal Services Director Jamie Thomas and
Sean Hollingsworth were in attendance representing the Finance Division.
MINUTES APPROVAL
MOVED BY CHRISTENSON, SECONDED BY BARILLEAUX, THE PENSION BOARD APPROVE THE
MINUTES OF THE NOVEMBER 15, 2018 MEETING. CARRIED.
MONTHLY STATEMENT
The November 30, 2018 and December 31, 2018 financial reports were reviewed. Total
cash/investment balance was, as of December 31, 2018, $7,142,179.89. Ms. Thomas reviewed a
spreadsheet highlighting the Firefighters' Pension financial portfolio. She noted that some
investments had matured and asked the board if it was interested in re -investing any funds. The
board asked Ms. Thomas to bring investment options back to the board at its next meeting in
March 2019.
MONTHLY BILLS AND PENSION PAYMENTS
MOVED BY CHRISTENSON, SECONDED BY SETH, THE BOARD APPROVE THE PENSION/MEDICAL
PAYMENTS OF $15,705.91 FOR DECEMBER 2018 AND $17,761.25 FOR JANUARY 2019, TO BE
PAID BY THE FIREFIGHTERS' PENSION FUND. CARRIED.
UNFINISHED BUSINESS
Ray Barilleaux was reelected to serve as Fire Department Representative for the term 1/1/2019
through 12/31/2020.
NEW BUSINESS
The board asked Mr. Hollingsworth to verify whether Ms. Arlene Parks-Andreason should be
receiving the 3.1% CPI increase the other widows are receiving. Mr. Hollingsworth also asked if
he could send out the annual membership survey. MOVED BY CHRISTENSON, SECONDED BY
SETH, THE BOARD ALLOW THE FINANCE DIVISION TO MAIL OUT THE ANNUAL MEMBER SURVEY.
CARRIED.
1/17/2019 Minutes
Firefighters' Pension Board
Page 2 of 2
AGENDA ITEM #2. a)
ADJOURNMENT
MOVED BY CHRISTENSON, SECONDED BY SETH, THE FIREFIGHTERS' PENSION BOARD ADJOURN.
CARRIED. TIME: 2:25 P.M.
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'Jason Seth, City Clerk
Secretary, Firefighters' Pension Board
AGENDA ITEM #4. a)
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CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF JANUARY 31, 2019
Firefighter's Pension Fund Comparison of Cash and Investment Activity
■2019 02018
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
CURRENT
2018
2019
LAST YEAR
2018
2018
ACTIVITY:
MONTH
YTD
BUDGET
CURR MO
ACTUAL
BUDGET
BEGINNING CASH/INV BALANCE
7,146,982.49
7,146,982.49
6,100,422.00
5,833,141.99
5,832,896.70
5,832,897.00
RECEIPTS:
Fire Insurance Premium Tax
0.00
0.00
143,000.00
0.00
154,275.27
143,000.00
Investment Interest
6,686.61
6,686.61
325,000.00
2,871.85
1,352,434.70
325,000.00
DISBURSEMENTS:
Fire Pension
17,761.25
17,761.25
200,000.00
19,633.20
192,624.18
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
245.29
0.00
475.00
Actuarial/Firemen's Pens
0.00
0.00
10,000.00
0.00
0.00
0.00
ENDING CASH/INV BALANCE
$7,135,907.85
$7,135,907.85
$6,357,947
$5,816,135.35
$7,146,982.49
$6,100,422
CURRENT
PREVIOUS
LAST YEAR
LAST YEAR
ACTIVITY:
MONTH
MONTH
CURR MO
PREV MO
CASH/State Investment Pool
$5,344,664.56
$5,356,987.58
$3,528,483.12
$3,546,504.09
INVESTMENTS:
Federal National Mortgage Assn
852,855.63
852,855.63
852,855.63
852,855.63
Treasury Strips & Zero Coupon Bonds
924,554.08
924,554.08
1,422,683.08
1,561,038.48
Interest Receivable
13,833.58
12,585.20
12,113.52
11,099.19
TOTAL CASH AND INVESTMENTS
$7,135,907.85
$7,146,982.49
$5,816,135.35
$5,971,497.39
The State Investment Pool interest
2.4920%
2.3753%
1.4296%
1.2777%
H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\Jan 19 Page 1 3/18/2019
AGENDA ITEM #4. b)
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25.25
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CITY OF RENTON - FIREFIGHTER'S PENSION FUND
CASH & INVESTMENT ACTIVITY REPORT
AS OF FEBRUARY 28, 2019
Firefighter's Pension Fund Comparison of Cash and Investment Activity
■2019 02018
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
CURRENT
2018
2019
LAST YEAR
2018
2018
ACTIVITY:
MONTH
YTD
BUDGET
CURR MO
ACTUAL
BUDGET
BEGINNING CASH/INV BALANCE
7,136,484.20
7,146,982.49
6,100,422.00
5,816,135.35
5,832,896.70
5,832,897.00
RECEIPTS:
Fire Insurance Premium Tax
0.00
0.00
143,000.00
0.00
154,275.27
143,000.00
Investment Interest
6,363.49
13,050.10
325,000.00
2,853.26
1,352,434.70
325,000.00
DISBURSEMENTS:
Fire Pension
17,761.25
34,946.15
200,000.00
18,675.70
192,624.18
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
10,000.00
0.00
0.00
0.00
ENDING CASH/INV BALANCE
$7,125,086.44
$7,125,086.44
$6,357,947
$5,800,312.91
$7,146,982.49
$6,100,422
CURRENT
PREVIOUS
LAST YEAR
LAST YEAR
ACTIVITY:
MONTH
MONTH
CURR MO
PREV MO
CASH/State Investment Pool
$5,335,916.86
$5,344,664.56
$3,511,734.31
$3,528,483.12
INVESTMENTS:
Federal National Mortgage Assn
852,855.63
852,855.63
852,855.63
852,855.63
Treasury Strips & Zero Coupon Bonds
924,554.08
924,554.08
1,422,683.08
1,422,683.08
Interest Receivable
11,759.87
13,833.58
13,039.89
12,113.52
TOTAL CASH AND INVESTMENTS
$7,125,086.44
$7,135,907.85
$5,800,312.91
$5,816,135.35
The State Investment Pool interest
2.5131%
2.4920%
1.4731%
1.4296%
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AGENDA ITEM #5. a)
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FIREFIGHTERS' PENSION BOARD
PENSION/MEDICAL PAYMENTS FOR FEBRUARY 2019
Recipient
Pension Amt
Medical
Total
ANKENY, Charlie (Captain)
$291.59
$291.59
BARILLEAUX, Ray (Battalion Chief)
-
$0.00
BERGMAN, Claudette (Widow)
$224.74
$224.74
CHRISTENSON, Chuck (Firefighter)
$418.91
$418.91
GEISSLER, Dick (Fire Chief)
$157.44
$157.44
GOODWIN, Kathryn Lorayne (Widow)
$1,243.03
$1,243.03
JONES, Evelyn M. (Widow)
$461.66
$461.66
LARSON, William (Firefighter)
$27.28
$27.28
LAVALLEY, Theodele (Captain)
$556.94
$556.94
MATTHEW, James (Deputy Chief)
-
$0.00
MC LAUGHLIN, Barbara M. (Widow)
$1,069.67
$1,069.67
NEWTON, Gary (Lieutenant)
$439.90
$439.90
NICHOLS, Gerald (Battalion Chief)
$784.98
$784.98
PARKS-ANDREASON, Arlene (Widow)
$519.27
$519.27
PHILLIPS, Bruce H. (Deputy Chief)
$487.00
$487.00
PRINGLE, Arthur (Captain)
$700.44
$700.44
PRINGLE, S. Joan (Widow)
$3,082.83
$3,082.83
RIGGLE, Arduth S. (Widow)
$77.49
$77.49
RUPPRECHT, Jim (Firefighter D Step)
$238.10
$238.10
SMITH, Shirley (Widow)
$462.98
$462.98
STROM, Doris (Widow)
$3,908.41
$3,908.41
TODD, Tess R. (Widow)
$524.92
$524.92
TONDA, Lila Jean (Widow)
$170.02
$170.02
VACCA, Nick (Lieutenant)
$479.30
$479.30
WALLS, Camille (Widow)
$275.17
$275.17
WEISS, Cheryl (Widow)
$1,159.18
$1,159.18
Total Expenses: Pension/Medical
$17,761.25
$0.00
$17,761.25
1 Widows - Disability. Includes a 3.1% CPI increase effective July 1st, 2018 per RCW 41.16.145
L Widows - Service. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2019.
Prior Year Pension/Medical Payments:
Total Pension Payments for February, 2018 17,180.99
Total Retro Payments in February, 2018 1,494.71
Total Expenses: Medical/Pension 18,675.70
4-SUMMARY 2019 2/7/2019
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FIREFIGHTERS' PENSION BOARD
PENSION/MEDICAL PAYMENTS FOR MARCH 2O19
Recipient
Pension Amt
Medical
Total
ANKENY, Charlie (Captain)
$291.59
$291.59
BARILLEAUX, Ray (Battalion Chief)
-
$0.00
BERGMAN, Claudette (Widow)
$224.74
$224.74
CHRISTENSON, Chuck (Firefighter)
$418.91
$418.91
GEISSLER, Dick (Fire Chief)
$157.44
$157.44
GOODWIN, Kathryn Lorayne (Widow)
$1,243.03
$1,243.03
JONES, Evelyn M. (Widow)
$461.66
$461.66
LARSON, William (Firefighter)
$27.28
$27.28
LAVALLEY, Theodele (Captain)
$556.94
$556.94
MATTHEW, James (Deputy Chief)
-
$0.00
MC LAUGHLIN, Barbara M. (Widow)
$1,069.67
$1,069.67
NEWTON, Gary (Lieutenant)
$439.90
$439.90
NICHOLS, Gerald (Battalion Chief)
$784.98
$784.98
PARKS-ANDREASON, Arlene (Widow)
$519.27
$519.27
PHILLIPS, Bruce H. (Deputy Chief)
$487.00
$487.00
PRINGLE, Arthur (Captain)
$700.44
$700.44
PRINGLE, S. Joan (Widow)
$3,082.83
$3,082.83
RIGGLE, Arduth S. (Widow)
$77.49
$77.49
RUPPRECHT, Jim (Firefighter D Step)
$238.10
$238.10
SMITH, Shirley (Widow)
$462.98
$462.98
STROM, Doris (Widow)
$3,908.41
$3,908.41
TODD, Tess R. (Widow)
$524.92
$524.92
TONDA, Lila Jean (Widow)
$170.02
$170.02
VACCA, Nick (Lieutenant)
$479.30
$479.30
WALLS, Camille (Widow)
$275.17
$275.17
WEISS, Cheryl (Widow)
$1,159.18
$1,159.18
Total Expenses: Pension/Medical
$17,761.25
$0.00
$17,761.25
1 Widows - Disability. Includes a 3.1% CPI increase effective July 1st, 2018 per RCW 41.16.145
` Widows - Service. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2019.
3 Widows - Service prior to 1969. Includes a 3.1% CPI increase effective July 1st, 2018 per RCW41.16.145
4 Retirees - Disability after 1961. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2019.
s Retirees - Service after 1969. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2019.
Prior Year Pension/Medical Payments:
total Pension Payments for March, 2018 17,180.99
total Medical Payments in March, 2018 0.00
Total Expenses: Medical/Pension 17,180.99
4-SUMMARY 2019 3/8/2019