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Home My WebLink AboutFinal Agenda Packet AGENDA Firefighters' Pension Board Meeting 2:00 PM - Thursday, September 19, 2019 Mayor's Conference Room, 7th Floor, City Hall – 1055 S. Grady Way 1. CALL TO ORDER 2. APPROVAL OF MINUTES a) July 18, 2019 3. CORRESPONDENCE 4. MONTHLY STATEMENTS a) July 2019 b) August 2019 5. MONTHLY BILLS AND PENSION PAYMENTS a) August 2019 b) September 2019 6. UNFINISHED BUSINESS 7. NEW BUSINESS 8. ADJOURNMENT MINUTES FIREFIGHTERS' PENSION BOARD CITY OF RENTON July 18,2019 Denis Law, Mayor Armando Pavone, Finance Committee Chair Megan Gregor, Deputy City Clerk Ray Barilleaux, Fire Department Representative Bruce Phillips, Fire Department Representative Jamie Thomas, Finance Department Representative Sean Hollingsworth, Finance Department Representative The regular meeting of the Firefighters' Pension Board was called to order by Mayor Denis Law at 2:01 p.m. in the Mayor's office, 7th floor of Renton City Hall. In attendance were Board members Mayor Denis Law, Finance Committee Chair Armando Pavone, and Fire Department Representatives Ray Barilleaux and Bruce Phillips City Clerk. Deputy City Clerk Megan Gregor, and Finance Department Representatives Jamie Thomas and Sean Hollingsworth were also in attendance. MINUTES APPROVAL MOVED BY BARILLEAUX,SECONDED BY PAVONE,THE PENSION BOARD APPROVE THE MINUTES OF THE MAY 16, 2019 MEETING. CARRIED. MONTHLY STATEMENT The financial reports of May 31, 2019 and June 30, 2019 were reviewed. Total cash/investment balance was, as of June 30, 2019$7,242,326.79. MONTHLY BILLS AND PENSION PAYMENTS MOVED BY BARILLEAUX,SECONDED BY PHILLIPS,THE BOARD APPROVE THE PENSION/MEDICAL PAYMENTS OF$14,731.53 FOR J U N E 2019,AND$14,731.53 FOR J U LY 2019 TO BE PAID BY THE FIREFIGHTERS' PENSION FUND. CARRIED. NEW BUSINESS Mr. Hollingsworth reported that widows received a 3.2%Cost of Living Allowance (COLA) increase per RCW 41.16.145. MOVED BY BARILLEAUX,SECONDED BY PHILLIPS,THE BOARD APPROVE THE COST OF LIVING ALLOWANCE INCREASE OF 3.2%. CARRIED. ADJOURNMENT MOVED BY BARILLEAUX, SECONDED BY PHILLIPS,THE MEETING OF THE FIREMENS' PENSION BOARD BE ADJOURNED. CARRIED. TIME: 2:08 P.M. r J. s eth,City Cler Secretary, Firefighters' Pension Board AGENDA ITEM #2. a) CITY OF RENTON - FIREFIGHTER'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF JULY 31, 2019 Firefighter's Pension Fund Comparison of Cash and Investment Activity CURRENT 2019 2019 LAST YEAR 2018 2018 ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE 7,248,321.29 7,146,982.49 6,100,422.00 5,910,174.67 5,832,896.70 5,832,897.00 RECEIPTS: Fire Insurance Premium Tax 0.00 155,412.91 143,000.00 0.00 154,275.27 143,000.00 Investment Interest 6,086.81 49,491.04 325,000.00 3,736.97 1,352,434.70 325,000.00 DISBURSEMENTS: Fire Pension 14,731.53 112,209.87 200,000.00 15,705.91 192,624.18 200,000.00 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 $7,239,676.57 $7,239,676.57 $6,357,947 $5,898,205.73 $7,146,982.49 $6,100,422 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $5,444,989.17 $5,454,878.89 $3,606,597.77 $3,619,560.23 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 17,277.69 16,032.69 16,069.25 15,075.73 TOTAL CASH AND INVESTMENTS $7,239,676.57 $7,248,321.29 $5,898,205.73 $5,910,174.67 The State Investment Pool interest 2.4776% 2.4954% 1.9858% 1.8866% 5.00 5.50 6.00 6.50 7.00 7.50 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillions of Dollars2019 2018 H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\Jul 19 Page 1 9/12/2019 AGENDA ITEM #4. a) CITY OF RENTON - FIREFIGHTER'S PENSION FUND CASH & INVESTMENT ACTIVITY REPORT AS OF AUGUST 31, 2019 Firefighter's Pension Fund Comparison of Cash and Investment Activity CURRENT 2019 2019 LAST YEAR 2018 2018 ACTIVITY: MONTH YTD BUDGET CURR MO ACTUAL BUDGET BEGINNING CASH/INV BALANCE 7,239,676.57 7,146,982.49 6,100,422.00 5,898,205.73 5,832,896.70 5,832,897.00 RECEIPTS: Fire Insurance Premium Tax 0.00 155,412.91 143,000.00 0.00 154,275.27 143,000.00 Investment Interest 5,736.37 55,227.41 325,000.00 3,721.75 1,352,434.70 325,000.00 DISBURSEMENTS: Fire Pension 17,559.95 129,769.82 200,000.00 15,705.91 192,624.18 200,000.00 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 $7,227,852.99 $7,227,852.99 $6,357,947 $5,886,221.57 $7,146,982.49 $6,100,422 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $5,431,918.08 $5,444,989.17 $3,593,635.79 $3,606,597.77 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 18,525.20 17,277.69 17,047.07 16,069.25 TOTAL CASH AND INVESTMENTS $7,227,852.99 $7,239,676.57 $5,886,221.57 $5,898,205.73 The State Investment Pool interest 2.2875% 2.4776% 2.0146% 1.9858% 5.00 5.50 6.00 6.50 7.00 7.50 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMillions of Dollars2019 2018 H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension Stmt\Aug 19 Page 1 9/12/2019 AGENDA ITEM #4. b) FIREFIGHTERS' PENSION BOARD PENSION/MEDICAL PAYMENTS FOR AUGUST 2019 Recipient Pension Amt Retro Total 4 ANKENY, Charlie (Captain) $129.47 ‐ $129.47 5 BARILLEAUX, Ray (Battalion Chief)‐‐ $0.00 1 BERGMAN, Claudette (Widow) $226.33 119.43 $345.76 4 CHRISTENSON, Chuck (Firefighter) $284.40 ‐ $284.40 5 GEISSLER, Dick (Fire Chief)‐‐ $0.00 1 GOODWIN, Kathryn Lorayne (Widow) $1,277.10 153.98 $1,431.08 1 JONES, Evelyn M. (Widow) $470.66 130.21 $600.87 5 LARSON, William (Firefighter)‐‐ $0.00 4 LAVALLEY, Theodele (Captain) $403.74 ‐ $403.74 5 MATTHEW, James (Deputy Chief)‐‐ $0.00 1 MC LAUGHLIN, Barbara M. (Widow) $1,095.12 209.88 $1,305.00 4 NEWTON, Gary (Lieutenant) $301.13 ‐ $301.13 5 NICHOLS, Gerald (Battalion Chief) $612.98 ‐ $612.98 2 PARKS‐ANDREASON, Arlene (Widow) $374.47 ‐ $374.47 5 PHILLIPS, Bruce H. (Deputy Chief) $265.31 ‐ $265.31 4 PRINGLE, Arthur (Captain) $549.61 ‐ $549.61 1 PRINGLE, S. Joan (Widow) $3,181.48 98.65 $3,280.13 3 RIGGLE, Arduth S. (Widow)‐‐ $0.00 4 RUPPRECHT, Jim (Firefighter D Step) $116.42 ‐ $116.42 1 SMITH, Shirley (Widow) $472.67 117.41 $590.08 1 STROM, Doris (Widow) $4,033.48 125.07 $4,158.55 1 TODD, Tess R. (Widow) $536.71 117.14 $653.85 2 TONDA, Lila Jean (Widow)‐‐ $0.00 4 VACCA, Nick (Lieutenant) $349.23 ‐ $349.23 1 WALLS, Camille (Widow) $278.01 128.20 $406.21 1 WEISS, Cheryl (Widow) $1,187.42 214.24 $1,401.66 Total Expenses: Pension/Medical $16,145.74 $1,414.21 $17,559.95 1 Widows ‐ Disability. Includes a 3.2% CPI increase effective July 1st, 2019 per RCW 41.16.145 2 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. 5 Retirees ‐ Service after 1969. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2019. Total Pension Payments for August, 2018 15,705.91 Total Medical Payments in August, 2018 0.00 Total Expenses: Medical/Pension 15,705.91 Prior Year Pension/Medical Payments: 4_SUMMARY 2019 8/8/2019 AGENDA ITEM #5. a) FIREFIGHTERS' PENSION BOARD PENSION/MEDICAL PAYMENTS FOR SEPTEMBER 2019 Recipient Pension Amt Retro Total 4 ANKENY, Charlie (Captain) $129.47 ‐ $129.47 5 BARILLEAUX, Ray (Battalion Chief)‐‐ $0.00 1 BERGMAN, Claudette (Widow) $226.33 ‐ $226.33 4 CHRISTENSON, Chuck (Firefighter) $284.40 ‐ $284.40 5 GEISSLER, Dick (Fire Chief)‐‐ $0.00 1 GOODWIN, Kathryn Lorayne (Widow) $1,277.10 ‐ $1,277.10 1 JONES, Evelyn M. (Widow) $470.66 ‐ $470.66 5 LARSON, William (Firefighter)‐‐ $0.00 4 LAVALLEY, Theodele (Captain) $403.74 ‐ $403.74 5 MATTHEW, James (Deputy Chief)‐‐ $0.00 1 MC LAUGHLIN, Barbara M. (Widow) $1,095.12 ‐ $1,095.12 4 NEWTON, Gary (Lieutenant) $301.13 ‐ $301.13 5 NICHOLS, Gerald (Battalion Chief) $612.98 ‐ $612.98 2 PARKS‐ANDREASON, Arlene (Widow) $374.47 ‐ $374.47 5 PHILLIPS, Bruce H. (Deputy Chief) $265.31 ‐ $265.31 4 PRINGLE, Arthur (Captain) $549.61 ‐ $549.61 1 PRINGLE, S. Joan (Widow) $3,181.48 ‐ $3,181.48 3 RIGGLE, Arduth S. (Widow)‐‐ $0.00 4 RUPPRECHT, Jim (Firefighter D Step) $116.42 ‐ $116.42 1 SMITH, Shirley (Widow) $472.67 ‐ $472.67 1 STROM, Doris (Widow) $4,033.48 ‐ $4,033.48 1 TODD, Tess R. (Widow) $536.71 ‐ $536.71 2 TONDA, Lila Jean (Widow)‐‐ $0.00 4 VACCA, Nick (Lieutenant) $349.23 ‐ $349.23 1 WALLS, Camille (Widow) $278.01 ‐ $278.01 1 WEISS, Cheryl (Widow) $1,187.42 ‐ $1,187.42 Total Expenses: Pension/Medical $16,145.74 $0.00 $16,145.74 1 Widows ‐ Disability. Includes a 3.2% CPI increase effective July 1st, 2019 per RCW 41.16.145 2 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. 5 Retirees ‐ Service after 1969. Includes a 3.5% COLA Adj. Effective Janaury 1st, 2019. Total Pension Payments for August, 2018 15,705.91 Total Medical Payments in August, 2018 0.00 Total Expenses: Medical/Pension 15,705.91 Prior Year Pension/Medical Payments: 4_SUMMARY 2019 9/9/2019 AGENDA ITEM #5. b)