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HomeMy WebLinkAbout1990-09-27 Minutes• • • MINUTES OF A MEETING OF THE FIRE PENSION BOARD A meeting of the Fayetteville Fire Pension and Relief Fund Board of Trustees was held on Thursday, September 27, 1990, at 1:30 p.m. in Room 326 of City Hall. PRESENT: Fire Chief Mickey Jackson, City Manager Scott Linebaugh, Firemen Bonaduce, Dill, and Reagan, Finance Director Ben Mayes, and Clarice Pearman. ABSENT: CALL TO ORDER City Clerk Sherry Thomas The meeting was called to order by City Manager Scott Linebaugh. Linebaugh stated that representatives from Merrill Lynch Investments would not be attending this meeting. MINUTES Linebaugh asked for approval of the minutes Reagan, seconded by Dill, made a motion to The motion was passed unanimously. PENSION LIST of the meeting. approve the minutes. Linebaugh stated that there were no changes in the list, and a copy could be obtained if anyone at the meeting so desired. Dill, seconded by Reagan, made a motion to approve the pension list with no changes. The motion passed unanimously. OLD BUSINESS Ben Mayes addressed request, an agenda previous meeting. salary contribution the Board and stated he had prepared, at their request for the City Board as discussed at a This would request an increase of the City's from 6% to 12%. Reagan made a motion to approve the request. Linebaugh questioned the starting date and there was some discussion as to the possibility of approving the change retroactive to the same time the Police Pension received their increase in benefits. Mayes stated that Jackson had asked him to make the requested increase active as of January 1991, and a budget adjustment would have to be made. Linebaugh, seconded by Dill, made a motion to follow the same procedure that the Police Department did with their increase. This would involve going from 6% to 9% for 1989, then increasing from 9% to 12% for 1990. The Fire Pension Fund did not request an increase in benefits at the same time the Police Pension Fund did because to • • September 27, 1990 they understood from state statutes that they were ineligible for the increase. The motion passed unanimously. NEW BUSINESS RETIREMENT Jackson introduced a request for retirement from Eddie Osburn, who has retired effective September 26, 1990. Osburn was employed by the Department for 24 years and retired with the rank of Captain. His ending salary was $24,925 00 and pension would be $12,084.63. Jackson, seconded by Reagan, made a motion to approve the retirement request. The motion passed unanimously. Mayes stated that it was questioned whether or not to withhold 6% pension contribution from Osborn's accumulated sick pay and vacation pay. He stated that it was the opinion of Katherine Hinshaw that the 6% is not withheld from the final check. Jackson stated that he did not believe the pension contribution had been withheld in the past from the vacation and sick leave pay. It was the consensus of the Pension Board's opinion that no pension contribution should be withheld. INVESTMENTS Reagan stated that the Merrill Lynch representative would be requesting a meeting at a later date when the money manager representative would be available to address the Pension Board. ADJOURNMENT The meeting was adjourned at 1:45 p.m.