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Home My WebLink About1995-06-29 - Agendas - Final• • • AGENDA FIREMEN'S PENSION AND RELIEF BOARD June 29, 1995 11:00 a.m. City Hall Room 326 1. Approval of the minutes of May 25, 1995. 2 Approval of Pension List for July, 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, May 25, 1995, at 11:00 a.m. in room 326 of the City Administration Building, 113 W. Mountain, Fayetteville, Arkansas. PRESENT: Marion Doss, Pete Reagan, Ron Wood, Darrell Judy, Howard Boudrey, Mayor Fred Hanna, and Jane Heth. CALL TO ORDER Mayor Hanna called the meeting to order. MINUTES Doss, seconded by Wood, made a motion to approve the minutes of the April 27, regular meeting and the May 5, special meeting. The motion passed unanimously. PENSION LIST In answer to a question Charlie Jordan had been Doss, seconded by Wood, • for June 1995, with the passed unanimously. • OLD BUSINESS from Mayor Hanna, Heth stated that added to the pension list. made a motion to approve the pension list addition of Charlie Jordan. The motion RETIRED MEMBER NOMINATION Mayor Hanna stated Randall Wright nominated Howard serve another term on the board. Doss seconded by Wood, made a motion to accept the Howard Boudrey. The motion passed unanimously. Boudrey to nomination of ROGER LEWIS' PENSION BENEFITS Pete Reagan and Darrell Judy arrived. The Board reviewed and discussed a memo from City Attorney Jerry Rose. Wood asked if Jerry Rose had a copy of the divorce decree. Mayor Hanna stated Roger Lewis needs to decide if he is being treated unfairly. Doss suggested that, in the future, the City should not write separate pension checks to divorced couples. Payment should be between the two people. • May 25, 1995 Judy stated that the Lewis' split payment issue was presented to the Pension Board. In answer to a question from Reagan, Heth stated the Board does have a copy of the divorce decree and it was forwarded to Jerry Rose. Discussion ensued regarding the City Attorney's memo and the Board came to the conclusion that Roger Lewis should review his divorce decree and discuss any changes with his attorney. NEW BUSINESS INVESTMENT REPORT Richard Yada, Merrill Lynch, distributed a summary of the portfolio performance as of April 30, 1995. Yada reported that New Mexico Capital is up since the beginning of the year. The Income Account is up to $3,442,417 with $45,000 being withdrawn to supplement the benefits. Using time weighted averages, the New Mexico account is up 7.67% for the year and the Income Account is up 7.10% for the year. Even though the are up 7%, they have under performed compared to the market indexes. In answer to a question from Mayor Hanna, Yada explained the difference between a value manager and a growth manager. They invest differently. When value managers are up, growth managers are down. As of yesterday, it appears the interest rate is going to stay the same or possibly go lower. If interest rates continue to come down, it will help the Bond Portfolio. Things are going well. The portfolio is well over $8 million dollars and climbing. Yada asked that the Board plan to review some original targets at the July meeting. OTHER BUSINESS CERTIFICATES Doss reported that Larry Freedle, Robert Johnson, Dennis Ledbetter and Charlie Jordan are each eligible to receive a certificate for twenty years of service and asked that the Board members sign each certificate. ADJOURNMENT The meeting adjourned at 11:25 a.m. FIREMEN'S RELIEF AND PENSION FUND JULY 1995 TRACI PAUL TREASURER •THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH OF JULY 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, WILLIAM 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 916.20 100.00 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 4.39.17 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 1,201.98 200.00 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 11450.00 609.88 540.36 • 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. CHAIRMAN ANO PRESIDENT ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON) )SS • SWORN TO AND SUBSCRIBED BEFORE ME THIS ISDAY OF ../14/ ..7 , 1995. • MY COMMISSION EXPIRES: 7fra..,r4 / o?oeAS- imlow '```\PNE . 1L .�.L0 OS MM 4' y ''i.. �• NOTARr y• ere V37. • SCS . PUBLIC*: if*. . C O U Ii Z�...y JUN 29 '55 10 0A MERRILL LYNCH L R ."6 t4 • F. Z.' RECEIVED JUN 2 9 1995 CITY CLERK'S OFFICE FAYETTEVILLE FIRE DEPT PENSION AND RELIEF FUND .1 PORTFOLIO PERFORMANCE 1/31/94 TO 05/31/95 12/31/34 NM CAPITAL MANAGEMENT *4,240,646 INCOME ACCOUNT 3,260.081 12/31/94 3 — MONTHS TREASURY SILLS DJIA W/DIV REINVESTED S d.P 340 W/DIV REINVEST LONG TERM TREASURY PONDS H IGH GRADE CORP BONDS CPI (AR) •NM CAPIPTAL (time wtd) INCOME ACCT(tim• wtd) • W ITHDRAIJALS: 03/10/$ s 20,000. 04/11/95 25,000, Timed. N -AP S^ i 2z51 + 4. 19 + 4. 99 + 1.30 — 7. 70 5.08 + 2. 75 + 1.27 2. 44 05/31/95 *4,663,536 3,579,009 05/31/95 + 2.50 +17.76 +17.35 + 16.80 + 14.70 + 1.47 + 10.24 + 11.06 12 i C N AO) /.3 C orAtvi S: - TAoN1G- hlz(DFIT5 Oki LotJC-EI? l3orJp3. - TN I rJ GS AIDE GREAT. -4E WILL GIVE A Co 4 EHEK)SIVE kEIzeIRT ItJ JULY. ( i L4