HomeMy WebLinkAbout1974-01-07 MinutesMINUTES OF MEETING OF FIREMEN'S PENSION
AND RELIEF FUND BOARD
JANUARY 7, 1974
4:30 P.M. CITY MANAGER'S OFFICE
Present: Donald Grimes, Chairman; Pat Tobin, Treasurer; Helen Young, Secretary;
Charles McWhorter, Fire Chief; and Fire Pension Board members Larry Poage, Bill
Boudrey, Richard Baird and N. D. McChristian.
Minutes of the December 3, 1973 meeting had been previously distributed to the
Board members. Bill Boudrey moved the minutes be approved. N. D. McChristian
seconded the motion. The motion passed unanimously.
Treasurer Pat Tobin presented Pension Authorization Form for the month of
January with no changes. Charles McWhorter moved the Pension Authorization
Form for the month of January be approved. Larry Poage seconded the motion.
The motion passed unanimously.
Treasurer Pat Tobin reported that due to interest rate and minimum deposit
level fluctuations which occurred shortly after the December 3, 1973 meeting
of the Board, the $15,000 which was discussed at the December 3, 1973 meeting
was invested for four years at 7-1/2 percent. Telephone approval of the Board
members was received before the investment was made. Bill Boudrey moved
that the investment of $15,000 for four years at 7-1/2 percent be approved.
Richard Baird seconded the motion which passed unanimously.
Chairman Grimes read the legal opinion regarding applicability of mandatory
Firemen's Relief and Pension Fund salary and compensation withholdings to
overtime which had been requested by the Board. The opinion was given by
City Attorney Jim McCord. A copy of the written opinion is attached to
these minutes. Charles McWhorter moved that as of January 1, 1974 pension
deductions not be made from the overtime pay received by firemen. N. D.
McChristian seconded the motion. The motion passed unanimously.
There being no further business, Charles McWhorter moved the meeting be
adjourned. Bill Boudrey seconded the motion which passed unanimously.
Chairman Grimes declared the meeting adjourned.
ATTEST:
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APPROVED:
Chairman
FAYETTEVILLE, ARKANSAS
POSTAL DRAWER F
December 6, 1973
OFFICE OF CITY ATTORNEY
Mr. Charles McWhorter
Fire Chief
Fayetteville Fire Department
Postal Drawer F
City Administration Bldg.
Fayetteville, Arkansas 72701
Re:
72701 (501) 521-7700
Legal Opinion Regarding Applicability
of Mandatory Firemen's Relief and
Pension Fund Salary and Compensation
Withholdings to Overtime
Dear Chief McWhorter:
Pursuant to your request, I have reviewed the Arkansas
Statutes pertaining to the Firemen's Relief and Pension
Fund in order to determine whether those statutes re-
quire a deduction from overtime, as well as deductions
from salary. Ark. Stat. Ann. Sec. 19-2221.1 provides
that cities may be authorized to•deduct not less than
1% nor inore:than 3% from the salary or compensation
of•firemen who participate in the Firemen's Relief and
Pension Fund. Ark. Stat. Ann. Sec. 19-2204 provides
that a retired fireman who is qualified to receive pen-
sion'fund benefits shall be entitled a monthly pension
equal to one-half of the salary attached to the rank
which he may have held preceding the date of retirement.
Since pension benefits are based on the' salary attached
to the rank of a fireman at the time of his retirement
rather than a fireman's total contributions to the fund,
it is my opinion that the legislature did not intend to.
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require withholdings from overtime in addition to with-
holdings from regular salary.
Sincerely,
CITY ATTORNEY
James N. McCord
JNMc/tm
cc: Don Grimes
City Manager
Pat Tobin
City Controller
%/Helen Young
City Clerk