HomeMy WebLinkAbout1996-04-25 MinutesMINUTES OF A MEETING OF THE FIRE PENSION BOARD
A meeting of the Fayetteville Firemen's Pension and Relief Board
was held on Thursday, April 25, 1996, at 11:00 a.m., in room 326
of the City Administration Building, 113 W. Mountain,
Fayetteville, Arkansas.
PRESENT: Mayor Fred Hanna, Pete Reagan, Marion Doss, Howard
Boudrey, Darrell Judy, and City Clerk/Treasurer Traci
Paul
ABSENT: Ron Wood
CALL TO ORDER
Mayor Hanna called the meeting to order.
MINUTES
Reagan, seconded by Doss, moved to approve the minutes of the
March 28, 1996 regular meeting. The motion passed unanimously.
PENSION LIST
Paul reported no changes in the pension list.
Reagan, seconded by Boudrey, moved to approve the May pension
list. The motion passed unanimously.
OLD BUSINESS
DROP
Reagan stated he had the answers to the questions from Marilyn
Cramer. He would meet with her to go over them.
Retirement Information
Reagan reported that he is working to create a document on the
computer that will show all the retirees, their dates of service,
their monthly salaries, raises, and proposed 65% amount of
retirement and the difference it will cost the fund. This should
be ready for the next meeting. A resolution should also be ready
regarding the proposed raises.
Reagan thanked the City Clerk and her microfilm clerk, Gina
Roberts, for their help with the computer data sheet.
NEW BUSINESS
Investment Report
Paul stated Richard Yada would not be present but he did send a
report.
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April 25, 1996
DROP Rules & Regulations
Reagan read Article 9 of the disclaimer and pointed out a
mistake. It reads, ". . .deferred compensation plan. . and
should read, "deferred pension plan."
Reagan moved to take "deferred compensation" out and put in
"deferred pension." Doss seconded.
Mayor Hanna suggested sending this change to City Attorney Rose
to review.
The motion passed unanimously.
Mayor Hanna asked Paul to send this change to the City Attorney.
Board Terms to Expire
Paul informed the Board that Reagan's and Judy's terms on the
Board would expire May 1, 1996. Notices of an election will be
sent out.
There being no further business, Mayor Hanna adjourned the
meeting at 11:20 a.m.