HomeMy WebLinkAbout1991-03-28 MinutesMINUTES 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, March 28, 1991, at 1:30 p.m. in Room
326 of City Hall.
PRESENT: Chief Mickey Jackson, Fireman Pete Reagan, Retiree
Darrell Judy, and City Clerk Sherry Thomas.
ABSENT: Firemen John Dill and Mike Bonaduce and City
Manager Scott Linebaugh.
CALL TO ORDER
Chief Mickey Jackson called the meeting to order.
MINUTES
Reagan requested that approval of the minutes be postponed until
the next meeting to allow sufficient time for reviewal.
PENSION LIST
Jackson stated the total is $30,015.18, and there are no changes
from last month's list. Judy, seconded by Reagan, made a motion to
approve the pension list. The motion passed by a unanimous vote.
NEW BUSINESS
INVESTMENTS
There was no representative present from Merrill Lynch to provide
an update on the investments.
ACT 502/SENATE BILL 306
Chief Jackson stated the Arkansas legislature had approved an
amendment to the pension laws which eliminated the 75% cap on
benefits received by a retiree. He stated he had calculated
several different possibilities, and he felt this legislation would
have little or no affect on the pension board. He stated a retiree
would have to earn a huge salary and work for over 40 years before
this act would come into play. (A copy of the Act is attached to
these minutes.)
HOUSE BILL 1541
Reagan stated the act to restructure the fire insurance tax
redistribution to pensions had failed on the floor of the House.
ADJOURNMENT
There being no further business, the meeting adjourned at 1:42 p.m.