HomeMy WebLinkAbout1994-07-28 Minutes•
MINUTES OF A MEETING OF THE FIRE PENSION BOARD
A meeting of the Fayetteville Firemen's Pension and Relief Board
was held on Thursday, July 28, 1994, at 11:00 a.m. in Room 326 of
the City Administration Building, 113 W. Mountain, Fayetteville,
Arkansas.
PRESENT: Marion Doss, Pete Reagan, Retiree Darrell Judy, Mayor
Fred Hanna, City Clerk Sherry Thomas, City Clerk Traci
Paul and Treasurer Glyndon Bunton.
ABSENT: Retiree Richard Baird, Ron Wood
CALL TO ORDER
Mayor Hanna called the meeting to order.
MINUTES
Reagan, seconded by Doss, made a motion to approve the minutes of
the June 30, 1994 meeting The motion was approved unanimously.
PENSION LIST
Thomas stated there were no changes in the Pension List.
• Reagan, seconded
for August 1994.
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Doss requested a
OLD BUSINESS
by Doss, made a motion to approve the pension list
The motion was approved unanimously.
correction on the spelling of "Fraley".
KING MEDICAL BILI4
Thomas stated she had received a bill from Neurological Associates
on Arvil King for $140.00. This is an outstanding bill for payment
on a series of tests King had done in February of 1993.
Neurological Associates has received two payments, one in the
amount of $195.00 and one for $40.00.
Doss, seconded by Reagan, made a motion to pay the outstanding
bill. The motion was approved unanimously.
DROP PLAN
Reagan stated he planned to present a proposal for the Drop Plan at
the next meeting.
NEW BUSINESS
INVESTMENT REPORT
There was no investment report for this meeting.
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July 28, 1994
ACTUARIAL VALUATION
Bunton stated the figures look accurate. He suggested everyone
study the report and make comments at the next meeting.
Reagan stated the Unfunded Accrued Liability figure is lower than
the $700,000.00 in Richard's last report.
Thomas stated she wanted to call attention to the 78% listed under
Portion of Liabilities Covered by Assets on page 10.
Bunton stated the percentage for 1994 was supposed to be 60%. We
were planning to be at 100% by the year 2003. Ben should look at
that.
Doss stated he was concerned about why there was such a tremendous
increase.
Bunton stated we have an above average increase in assets compared
to the other two year periods. There don't appear to be any
discrepancies.
CERTIFICATES
Doss stated the statute says certificates are to be presented to
firefighters who have 20 years of service. Certificates need to be
awarded to Larry Freedle, Charles Jordan, Dennis Ledbetter and
Robert Johnson. The Pension Board can sign the certificates at the
next meeting.
ADJOURNMENT
The meeting adjourned at 11:20 a.m.