HomeMy WebLinkAbout1990-09-27 Minutes•
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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
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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.