Loading...
HomeMy WebLinkAbout1995-05-25 - Agendas - Final• AGENDA FIREMEN'S PENSION AND RELIEF BOARD May 25, 1995 11:00 a.m. City Hall Room 326 1. Approval of the minutes of April 27 and May 5, 1995. 2. Approval of Pension List for June, 1995 3. Old Business 4 New Business • A. Investment Report, Merrill Lynch • 5. Adjournment • • • MINUTES OF A MEETING OF THE FIRE PENSION BOARD A meeting of the Fayetteville Firemen's Pension and Relief Board was held on Thursday, April 27, 1995, at 11:00 a.m. in room 313 of the City Administration Building, 113 W. Mountain, Fayetteville, Arkansas. PRESENT: Marion Doss, Pete Reagan, Ron Wood, Darrell Judy, Howard Boudrey, Mayor Fred Hanna, City Clerk/Treasurer Traci Paul, and Fire Chief Mickey Jackson CALL TO ORDER Mayor Hanna called the meeting MINUTES Reagan, seconded by of March 30, 1995. PENSION LIST to order. Boudrey, made a motion to approve the minutes The motion passed unanimously. In answer to a question from Mayor Hanna, Paul stated there were no changes in the pension list. Boudrey, seconded by Doss, made a motion to approve the pension list for May, 1995. The motion passed unanimously. OLD BUSINESS Paul PENSION AFFIDAVITS stated that all pension affidavits had been mailed PAYMENT TO JONES JONES & HARDIN Paul stated that Jones, Jones and Plan. back in. a check in the amount of $1,443.61 was mailed to Hardin on April 4, 1995 for services on the DROP DROP PLAN In answer to a question from Doss, Reagan stated it would be 60 to 90 days before information would be available on the DROP Plan. NEW BUSINESS INVESTMENT REPORT The Board reviewed a summary of the portfolio performance as March 28, 1995. A Merrill Lynch representative could not be present. of April 27, 1995 In answer to a question from Mayor Hanna, Reagan stated he was comfortable with the investment portfolio right now. Reagan stated that New Mexico Capital has increased to 4.06% and the Income Account has increased to 5.25%. Bonds have increased from -7.70% in December of 1994 to 6.26% in March. Reagan stated that Richard Yada would be present at the May meeting. ELECTION OF PENSION BOARD MEMBERS Reagan stated there are two positions up for election. The position currently being held by Ron Wood and the retiree position currently being held by Howard Boudrey are both up for election. Notices could be mailed out to retirees with their checks. In answer to a question from Mayor Hanna, Reagan explained that nomination forms can be mailed out with payroll checks and then returned. Discussion ensued regarding the amount of time nomination process. In answer to a question from Doss, Paul stated could be mailed out before checks are mailed. needed for the nomination forms Mayor Hanna reminded the Board that a person holding a board position usually stays until a replacement is made. Reagan stated that in the past, nomination forms have been mailed with checks. Reagan suggested the nominations be returned by the next meeting on May 25. STATE STATUTES Reagan stated there have been changes in some State Statutes. Copies will be available at a later date. ADJOURNMENT The meeting adjourned at 11:20 a.m. MINUTES OF A MEETING OF THE FIRE PENSION BOARD A special meeting of the Fayetteville Firemen's Pension and Relief Board was held on Friday, May 5, 1995, at 11:00 a.m. in room 313 of the City Administration Building, 113 W. Mountain, Fayetteville, Arkansas. PRESENT: Marion Doss, Pete Reagan, Ron Wood, Darrell Judy, Howard Boudrey, Mayor Fred Hanna, City Clerk/Treasurer Traci Paul, and Fire Chief Mickey Jackson CALL TO ORDER Mayor Hanna called the meeting to order. CHARLIE JORDAN - RETIREMENT Reagan explained that Fire Chief Mickey Jackson had prepared a memo regarding Jordan's time. Everything seems to be in order. Jordan had 24 years, 8 months and 20 days of credited service with the Fire Department. His base salary is $2,224.33 per month. He is allowed $80.00 extra per month for the four years he served past 20. Jordan's total pension per month will be $1,192.17. Reagan, seconded by Wood, made a motion to add Charlie Jordan to the Fayetteville Firemen's Pension Relief Fund pension list. The motion passed unanimously. OTHER BUSINESS PENSION INCREASE Reagan stated he attended the Pension Review Board meeting on May 3. Reagan explained that there will be an increase in minimums for full pay retirees from $250 to $350 per month. There will be an increase for volunteers from $30 to $50 per month. The information will be available at the next meeting. Doss stated that six volunteers would be affected. It will bring their pay up to $50.00. ROGER LEWIS - PENSION OUESTION Reagan forwarded to the Board a question from retiree Roger Lewis. In a divorce decree, Marvie Lewis was awarded half of Roger Lewis' pension benefit. Roger Lewis wants to know if Marvie Lewis would still receive half of his pension benefit if he were to pass away. What if she was remarried? Would his new wife receive any benefits? • • • May 5, 1995 Reagan suggested the Board ask for an opinion from the City Attorney. Doss explained that Lewis suspects that Marvie Lewis has remarried. In answer to a question from Doss, Reagan stated the decision to split the pension payment was made by a court decree. Doss asked if the minutes of the Fire Pension Board could be researched in hopes of locating a copy of the court decree or other documentation on the issue. Hanna stated the City Attorney could give an opinion on what would happen to Lewis' benefits should he die. ADJOURNMENT The meeting adjourned at 11:20 a.m. FIREMEN'S RELIEF AND PENSION FUND JUNE 1995 TRACI PAUL, TREASURER •THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH OF JUNE 1995. YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED. • • EMP# NAME 43 BAIRD, RICHARD H. 1 BARNES, ELIZABETH 2 BLACKARD, PAUL 63 BOLAIN, ANN 44 BOUDREY, BETTY MRS. 45 BOUDREY, HOWARD 49 BOUDREY, JACK 4 CARL, FLOYD JR 5 CASELMAN, ARTHUR 57 CATE, ROY 6 CHRISTIE, ARNOLD 7 COLE EVERETT 8 COUNTS, WAYNE 61 DAVIS, BEULAH F. 10 DEARING, EMMA MRS. 11 FARRAR, ALONZO 38 FRALEY, JOSEPH G. 33 HARRIS, BILL C. 34 HARRIS, JAMES E. 64 JORDAN, CHARLIE 47 JUDY, DARRELL 37 KING, ARNOLD D 54 KING, ARVIL 12 LANE, HOPE MRS 13 LAYER, MERLIN 14 LEE, HAROLD 51 LEWIS, CHARLES 60 LEWIS, MARVIE 55 LEWIS, ROGER 40 LOGUE, PAUL D. 50 MASON, LARRY 39 MC ARTHUR, RONALD A. 35 MC CHRISTIAN, DWAYNE 15 MC WHORTER, CHARLES 29 MILLER, DONALD 42 MOORE, JAMES H. 17 MORRIS, WILKIE MRS. 16 MORRIS, WIWAM H. 62 MORRISON, EUENE 48 MULLENS, DENNIS W. 58 OSBURN, EDWARD 46 OSBURN, TROY 53 POAGE, LARRY 20 POLLY, GRACE A. MRS. 22 REED, JOE 30 SCHADER, EARVEL 41 SCHADER, TROY 23 SKELTON, BURL L. 24 SKELTON, LEE 56 SKELTON, ROY 36 SPRINGSTON, CARL 25 STOUT, ORVILLE GROSS FED. TAX ST. TAX NET 91620 100.00 45.00 55.00 55.00 1,266.21 66.21 1,066.66 837 68 287 68 45.00 75.00 909.50 45.00 375.00 32.50 55.00 377.50 50.00 707.84 953.38 100.00 55.00 55.00 1,192.17 837 68 828.42 100.00 1,131.00 130.00 45.00 417.50 55.00 837.68 439.16 439.17 1,469.38 175 00 829 35 29.35 891.62 100.00 55.00 30.00 885.14 50.00 863.01 125.00 55.00 45.00 60.00 70.00 1,114.11 1,284.63 160.00 965.81 65.81 1,20198 200.00 45.00 55.00 915.78 783.74 20.00 692.50 42.50 390.00 1,626.02 126.02 609.88 590.36 50.00 816.20 45.00 55.00 55.00 1,200.00 1,066.66 50.00 500.00 45.00 75.00 909.50 45.00 342.50 55.00 377.50 50.00 707.84 10.00 843.38 55.00 55.00 1,192.17 837.68 10.00 718.42 1,001.00 45.00 417.50 55.00 837.68 439.16 439.17 20.00 1,274.38 800.00 791 62 25.00 835.14 738.01 55.00 45.00 60.00 70.00 1,114.11 1,124.63 900.00 30.00 971.98 45.00 55.00 915.78 763.74 650.00 390.00 50.00 1,450.00 609.88 540.36 27 TUNE, MILDRED MRS. 26 TUNE, JESS 28 WATTS, DONALD 59 WATTS, WAYNE 52 WRIGHT, RANDALL 70.00 70.00 400.00 921.17 877.68 96.17 150.00 70.00 70.00 400.00 825.00 727.68 32,004.91 2,236.24 170.00 29,598.67 WE, THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE JUST AND CORRECT; THAT NO PART THEREOF HAS BEEN PREVIOUSLY PAID; THAT THE PENSION PAYMENTS SO CHARGED ARE IN ACCORDANCE WITH THE ACTIONS OF THE BOARD OF TRUSTEES OF THE FIREMEN'S RELIEF AND PENSION FUND; THAT THE SERVICES OR SUPPLIES FURNISHED, AS THE CASE MAY BE, WERE ACTUALLY RENDERED OR FURNISHED; AND THAT THE CHARGES MADE THEREFORE DO NOT EXCEED THE AMOUNT ALLOWED BY LAW OR THE CUSTOMARY CHARGE FOR SIMILAR SERVICES OR SUPPLIES. iLbt 1471144 S R TARRY CHAIRM DENT ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON) )SS • SWORN TO AND SUBSCRIBED BEFORE ME THISSMDAY OF , 1995. /L„,9 f 2/t» NOTY PUBLIC MY COMMISSION EXPIRES: 3-/- os- FAYETTEVI LLE -iNE CITY OF FAYETTEVILLE, ARKANSAS TRACI PAUL, CITY CLERK • • TO: Fire Pension Retirees FROM: Traci Paul, City Clerk/Treasurer DATE: May 8, 1995 SUBJECT: FIRE PENSION BOARD ELECTION Tr There is a retired member position up for election on the Firemen's Pension Board. This position has a two year term beginning in May of 1995 and ending May 1, 1997. The position is currently being held by Howard Boudrey who was appointed to fill the unexpired term of Richard Baird in September of 1994. The Board is accepting nominations for a retired member to serve this term. Please submit any nominations to the City Clerk's Office by Friday, May 19. If you have any questions, please feel free to call. Thanks. 113 WEST MOUNTAIN 72701 501 5765323 FAYETTEVI LLE E CITY OF FAYETTEYILLE, ARKANSAS TRACI PAUL, CITY CLERK TO: Firemen's Pension Board Members FROM: Traci Paul, City Clerk/Treasurer Th DATE: May 18, 1995 SUBJECT: Firemen's Pension Board Nomination Retiree Randall Wright made a nomination over the telephone today to reappoint Howard Boudrey to serve another term on the Firemen's Pension Board. 113 WEST MOUNTAIN 72701 501 676-8323 1 FAYETTEVI LLE .E CITY OF FAYETTEVILLE, ARKANSAS TRACI PAUL, CITY CLERK • • TO: Jerry Rose, City Attorney FROM: Traci Paul, City Clerk DATE: May 16,1 1995 SUBJECT. ROGER LENIS' PENSION BENEFITS • Please find attached a copy of the minutes from the May 5, Firemen's Pension Board meeting and a copy of the divorce decree of Roger and Marvie Lewis. As requested by the Board, please advise as to who would receive benefits should Roger Lewis pass away. Thank you. attachments 113 WEST MOUNTAIN 72701 501 5754323 • MINUTES OP A MEETING OP THE PIRE PENSION HOARD A special meeting of the Fayetteville Firemen's Pension and Relief Board was held on Friday, May 5, 1995, at 11:00 a.m. in room 313 of the City Administration Building, 113 W. Mountain, Fayetteville, Arkansas. PRESENT: Marion Doss, Pete Reagan, Ron Wood, Darrell Judy, Howard Boudrey, Mayor. Fred Hanna, City Clerk/Treasurer Traci Paul, and Fire Chief Mickey Jackson CALL TO ORDER • ' , Mayor Hanna called the meeting to order. CHARLIE JORDAN - RETIREMENT Reagan explained that Fire Chief Mickey Jackson had prepared a memo regarding Jordan's time. Everything seems to be in order. Jordan had 24 years, 8 months and 20 days of credited service with the Fire Department. His base salary is $2,224.33 per month. He is allowed $80.00 extra per month for the four years he served past 20. Jordan's total pension per month will be $1,192.17. • Reagan, seconded by Wood, made a motion to add Charlie Jordan to the Fayetteville Firemen's Pension Relief Fund pension list. The motion passed unanimously. • OTHER BUSINESS PENSION INCREASE Reagan stated he attended the Pension Review Board meeting on May 3. Reagan explained that there will be an increase in minimums for full pay retirees from $250 to $350 per month. There will be an increase for volunteers from $30 to $50 per month. The information will be available at the next meeting. Doss stated that six volunteers would be affected. It will bring their pay up to $50.00. ROGER LEWIS - PENSION QUESTION Reagan forwarded to the Board a question from retiree Roger Lewis. In a divorce decree, Marvie Lewis was awarded half of Roger Lewis' pension benefit. Roger Lewis wants to know if Marvie Lewis would still receive half of his pension benefit if he were to pass away. What if she was remarried? Would his new wife receive any benefits? 4 • • • May 5, 1995 Reagan suggested the Board ask for an opinion from the City Attorney. Doss explained that Lewis suspects that Marvie Lewis has remarried. In answer to a question from DosS, Reagan stated the decision to split the pension payment was made by a court decree. Doss asked if the minutes of sthe Fire Pension Board could be researched in hopes of locating a copy of the court decree or other documentatioh on the issue. Hanna stated the City Attorney could give an opinion on what would happen to Lewis' benefits should he die. ADJOURNMENT The meeting adjourned at 11:20 a.m. • • DOUG NORWOOD HOLLY L. SMITH, +' + Also Admitted in Oklahoma Also Admitted in Missouri •ALsoaCPA • • NORWOOD & SMITH, PA. ATTORNEYS AT LAW &SR/1)0 141.i ; 5 1991 ;TS itNNEL DIVISION July 24,1991 City of k- Fire Department RE: Len R. Lewis Reply To: 1 P.O. Box 7000 Springdale, AR 72766 (501) 361-2121 ❑ 205 W. EIm St. Rogers, AR 72756 (501) 636-1262 To Whom it May Concern: Enclosed you will find a copy of a Divorce Decree filed in Washington County on July 10, 1991. Please note that the Property Division gives my client, Marvie Lewis, 1/2 of Mr. Lewis' pension. My client would like that mailed directly to her at P.O. Box 295, Elkins, AR 72727. If you have any questions, or need any further information, please do not hesitate to let me know. cc: Marvie Lewis lewis.out Very incerely Yours, Holly W Smith 1 1 • IN THE CHANCERY COURT OF WASHINGTON COUNTY, ARKANSAS FAYETTEVILLE, ARKANSAS MARVIE LEWIS, VS. LEN R. LEWIS, CASE -NO. r— I( 0 On this j 41r -day of DECREE • • • PLAINTIFF DEFENDANT 1 1991, this cause comes on to be heard. The Plaintiff, Marvie Lewis, having appeared in person and with an attorney, and the Defendant appearing not; and the cause was submitted to the Court on the Plaintiff's Complaint, and the evidence presented at the hearing including the corraborating'testimony of I (KA\ I Jsn , from all of which the Court, • being well and sufficiently advised in the premises, finds and orders as follows: • • 7. JURISDICTION: That the Court has jurisdiction over the parties and the subject matter of this action. 8. DIVORCE: That the allegations and materials contained in the Plaintiff's Petition are true and that Plaintiff is entitled to an absolute divorce on the grounds set out therein. 9. NO CHILDREN: That no children, still minors, were born of the marriage and none are expected. 10. PROPERTY DIVISION: That Plaintiff and Defendant are owners of real and/or personal property which shall be divided as follows: CO plaintiff: The Plaintiff is awarded the following as • Plaintiff's sole and separate property, and the Defendant is • • divested of all right, title, interest and claim in and to such property: (a) Clothes and personal possessions (b) As shown in Exhibit A, which is attached hereto and by reference incorporated herein. Defendatti/ The Defendant is awarded the following as Defendant's sole and separate property, and the Plaintiff is divested of all right, title, interest and claim in and to such property: (a) Clothes and personal possessions (b) As shown in Exhibit A, which is attached hereto and by reference incorporated herein. 11. DEBTS DIVISION: That there are certain debts of the parties which shall be paid as follows: Plaintiff: The Plaintiff will pay, as part of the division of the estate of the parties, the following debts and obligations and shall indemnify and hold Defendant and Defendant's property harmless from any failure to so discharge these debts and obligations: (a) Any and all debts incurred solely by the Plaintiff from and after 5/2/91, unless express provision is made herein to the contrary. (b) All debts secured by the property awarded to the Plaintiff herein, unless express provision is made herein to the contrary. - Defendant: The Defendant will pay, as part of the division of the estate of the parties, the following debts and obligations and shall indemnify and hold Plaintiff and Plaintiff's property harmless from any failure to so discharge these debts and obligations: (a) Any and all debts incurred solely by the Defendant from and after,5/2/91, unless express provision is made herein to the contrary. (b) All debts secured by the property awarded to the Defendant herein, unless express provision is made herein to the contrary. 12. DIVISION OF UNDISCLOSED LIABILITIES: As a part of the division of the estate of the parties, that any community liability not expressly assumed by a party under this Decree is to be paid by the party incurring the liability. 13. COURT COSTS: All costs of Court expended in this cause are to be taxed against the party incurring the cost. IT IS SO ORDERED. AGREED:S Ti- /ilzu,u, t La y MARVIE LEWI LEN R. LEWIS • • • • i APPROip S7TO FOR AND CONTENT: Attdrney f{ PYaintiff Attorney for Defendant or Defendant PREPARED BY: NORWQOD Et -SMITH, P. A. Attorneys at Law 205 W. Elm'St. Rogers, AR 72756 ,x(501) 636-1262 P. O..Box 7000 Springdale, AR 72766 (501) 361-2121 • f PROPERTY TO BE RETAINED BY THE PLAINTIFF: (a) House on Harris Drive, more particularly described as: Part of the Southwest Quarter (SW1/4)•Of the Northeast Quarter (NE1/4) of Section Twenty-seven (27), Township Sixteen (16) North, Range Twenty-nine (29) West of the 5th P.M., and being more particularly described as follows, to -wit: Beginning at the Southeast corner of thO said 40 acre tract; thence South 89 degrees 48'50' West 660 feet; thence North 661.51 feet; thence North ,89 degress 44'01" East 660 feet, thence South 660 feet to the paint of beginning, containing 20.01 acres, more or less. (b) All the contents of the house on Harris Drive. (c) Lawn Mower and Tiller. • (d) Plaintiff's Wal-Mart stock. (e) 1/2 of the C.D. (f) 1/2 of Defendant's pension from the fire department. (g) automobile. (h) Arkansas Lot, more particularly described as: • Lot 70, Block IV, Moulder Hollow Subdivision of the Lost Bridge Village Development, as shown on the map of plat thereof in Volume 9, Page 121 of the Plat Records of Benton County, Arkansas. • PROPERTY TO BE RETAINED BY DEFENDANT: (a) Farm in Madison County, more particularly described as: (See attached exhibit B which is attached hereto and by reference incorporated within.) (b) All farm equipment (c) All cattle (d) Defendant's Wal-Mart stock (e) truck (f) 2 chan saws (f) Defendant's tools (g) 1/2 of C.D. (h) Oklahoma Lot, more particularly described as: Lot 6, DRIPPING SPRINGS ADDITION, Delaware County, State of Oklahoma. (i) 1/2 of the amount (if any) that the net sales price for the house on Harris Drive exceeds $61,000.00 (net after all closing costs and costs of sales and real estate commission). Said sale of the house must take place within one year or this paragraph (i) becomes null and void. EXHIBIT B A part of the Southwest -Quarter of the Northeast Quarter (SWC NE'); a part of the Southeast Quarter of the Northeast Quarter (SES NE%); a part of the Northeast QuartF.of the Northeast Quarter (NES NES); of Section 14, .anda part of the Northwest Quarter of the Northwest Quarter (NWS NWk).and the Southwest Quarter of the Northwest Quarter (SW% NW's) in Section 13, all in Township 15 North, Range 27 West. Described as beginning at the Northeast corner of the said SWC NWS Section 13, thence along the East line thereof, S. 00-16-05 W. 1325.45 feet; thence N 89-42-28 W. 1312.85 feet; thence N 00-06-17 E 86.31 feet to a rock wall; thence along said rock wall, N 79-47-23 W 96.73 • feet, N 50-31-39 W 204.70 feet, N 64-02-18 W 244.43 feet, S 76-21-28 W. 135.92 feet, S 72-20-13 W 133.02 feet, S 67-44-48 W 69.58 feet; S 55-39-38 W. 85.94 feet; thence 5 72-07-58 W 265.97 feet, along a fence to the centerline of Drake's Creek; thence along said centerline N 71-45-42 W. 432.06 feet, N 08-59-11 W. 396.41 feet; along centerline of Highway #29S; thence leaving said Highway and along said center- line of draw N 49-24-30 E. 665.07 feet, N 40-33-56 E 92.99 feet, N 60-51-00 E. 135.31 feet, to a fence; thence leaving said draw and along said fence N 39-36-23 W. 161.50 feet, N 30-46-15 W 99.58 feet, S 89-55-21 E 1122.84 feet to an existing stone; thence leaving said fence, S 32-59-19 W. 106.08 feet, to the North line of the said SWC of the NWS Section 13, thence along said North line S 89-37-42 E 1316.64 feet, to the point of beginning, containing 7`W4 acres, more or less, Madison County, Arkansas. 111 Of FAYETTEVILLE, ARKANSAS j'1"1'lt\ 1 LLE August 26, 1991 Ms. Marvie Lewis 245 Happy Hcllow.Road Fayetteville, AR flPO1 Dear Ms. Lewis: • Correspondence has been received from Norwood and Smith Law Offices requesting that one-half of Roger Lewis' pension be sent to you. Before any pension distribution can be mailed to you, a Form W -4P must be on file with this office. Please complete the enclosed Form W -4P and return it to this office. An envelope has been provided for your'convenience. If you have any questions, please call me at 575-8298. • Thank you for your help. Sincerely, Marilyn J. 6ramer Accounting Manager 113 WEST MOUNTAIN 72701 S01 521.7700 AIL F A Y E T T E V Jr L L E LEGAL DEPARTMENT CITY ATTORNEY DIVISION DEPARTMENTAL CORRESPONDENCE Jerry E. Rose LaGayle D. McCarty 575-8313 • • TO: Traci Paul, City Clerk FROM: Jerry E. Rose DATE: May 22, 1995 RE: Roger Lewis' Pension Benefits Thank you for your memo dated May 16, 1995 in which you request an opinion regarding Mr. Roger Lewis' Benefits. I was given the following facts and assume them to be true: 1. Mr. Lewis is a retiree receiving retirement benefits from the Fayetteville Fireman's Pension Relief Fund. 2. Mr. Lewis is divorced from Marvie Lewis. 3. Under the terms of that divorce Marvie Lewis was awarded half of Roger Lewis' pension benefit and receives that amount from the City currently. The Fire Pension Board requests the answer to the following questions: 1. Does Marvie Lewis continue to receive one-half of Roger's benefits after Roger dies? 2. Does Marvie Lewis continue to receive the benefits if she should remarry. 3. is Roger's present wife entitled to any benefit? 4. What happens to Roger Lewis' benefits upon his death? It is important to remember that I act as attorney for the Fire Pension Board and I cannot by law give private legal advice. Much of this question is a private legal matter between Mr. Lewis and the court. Other matters may become a private legal matter for the probate courts to determine upon the death of Mr. Lewis. The City's view is a rather narrow one in which we simply determine Mr. Page 2 • Memo: Traci Paul May 22, 1995 • • Lewis' eligibility and distribute his benefits in a manner prescribed by state and/or as directed by the courts. I would highly recommend that Mr. Lewis seek the advice of his own attorney as to the distribution of his pension both currently and upon his death. From this prespective and with the above admonition I would answer these questions as follows: 1. Does Marvie Lewis continue to receive one-half of Roger's benefits after Roger dies? No, not under the Arkansas statutes. Retirement benefits cease after the death of the retiree and, accordingly there is nothing for her to receive. The death benefits received by a retirant under A.C.A.§24-11-822 are normally distributed as set forth in that statute. The only way I can think of that Marvie Lewis may receive a portion of that death benefit is if Roger left it to her in his will or if a court ordered the distribution. Mr. Lewis needs to consult an attorney to determine if the divorce court has ordered such a distribution or if he needs to seek a court order clarifying the issue. 2. Does Marvie Lewis continue to receive the benefits if she should remarry? It depends upon the terms of the divorce decree. Mr. Lewis needs to consult his attorney to determine that and decide if he needs to seek to modify the decree. As it stands now it appears the divorce decree is silent as to consequences of a remarriage and treats the benefits as a division of property. 3. Is Roger's present wife entitled to any benefit? It depends on the divorce decree somewhat. It looks as if she would normally receive death benefits as outlined in A.C.A.§24-11-822. 4. What happens to Roger Lewis' benefits upon his death? The distribution of death benefits are set out in A.C.A.§24-11-822. Essentially the benefits become a part of the estate of the retirant. That would control unless Page 3 Memo: Traci Paul May 22, 1995 modified by a court order such as a divorce decree. Mr. Lewis needs to consult with his attorney regarding this as well. From the point of view of the Firemen's Pension Fund I would not feel confortable discontinuing benefits to Marvie Lewis without a court order directing us to. Similarly I would not feel comfortable paying death benefits to Marvie Lewis without court direction. If I may provide you with any further information, just let me know. JER/cbp Attachment • • • FAYETTEVILLE FIRE DEPT PENSION AND RELIEF FUND PORTFOLIO PERFORMANCE 12/31/94 TO 04/30/95 NM CAPITAL MANAGEMENT INCOME ACCOUNT 12/31/94 04/30/95 $4,240,646 $4,559,872 3,260,081 3,442,417 12/31/94 04/30/95 3 - MONTHS TREASURY BILLS + 4.19 + 1.97 DJIA W/DIV REINVESTED + 4.99 +13.72 S & P 500 W/DIV REINVEST + 1.30 +13.01 LONG TERM TREASURY BONDS - 7.70 + 8.16 H IGH GRADE CORP BONDS - 5.08 + 8.03 CPI (APR) + 2.75 + 1.14 NM CAPITAL (time wtd) + 1.27 + 7.67 INCOME RCCT(tirne wtd) - 2.44 + 7.10 W ITHDRAWALS: 03/10/95 $ 20,000. 04/11/95 25,000.