HomeMy WebLinkAbout1996-06-27 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, June 27, 1996, at 11:00 a.m., in room 326
of the City Administration Building, 113 W. Mountain,
Fayetteville, Arkansas.
PRESENT:
ABSENT:
Marion Doss, Ron Wood, Howard Boudrey, Darrell Judy,
and City Clerk/Treasurer Traci Paul
Mayor Fred Hanna & Pete Reagan
CALL TO ORDER
Marion Doss called the meeting to order.
MINUTES
Wood, seconded by Boudrey, moved to approve the minutes of the
May 30, 1996 regular meeting. The motion passed unanimously.
PENSION LIST
Paul reported no changes in the pension list.
Boudrey, seconded by Judy, moved to approve the July pension
list. The motion passed unanimously.
NEW BUSINESS
Investment Report
Paul stated Richard Yada had not contacted her about whether he
would be in attendance or not.
OLD BUSINESS
Proposed Benefit Increase
In answer to a question from Doss, Paul stated she did not have
any additional information.
Doss stated the item will be tabled until the next meeting.
DROP Application
Doss stated there is a DROP application from Robert Johnson.
Doss asked if Johnson still needed to come in and fill his
application in with a pen instead of a pencil.
June 27, 1996
Paul stated the application has been revised with ink but Johnson
needs to come in and initial the changes.
Wood stated he had asked Johnson to come in and take care of
that.
Doss stated the Board should not approve the DROP application
until Johnson comes in and initials the changes on his
application.
Paul suggested the Board could approve the application subject
Johnson initialling it.
In answer to a question from Doss, Paul stated Johnson needs to
initial that the effective date has been changed from June.1 to
July 1. He also needs to initial the change in the amount. Paul
explained she filled in the amount that the Accounting Division
will be using.
In answer to a question from Paul regarding the beneficiaries
listed on Johnson's beneficiary form, Doss explained it was okay
that Johnson listed his two sons.
to
Boudrey, seconded by Judy,
Johnson's DROP application
motion passed unanimously.
MORE NEW BUSINESS
made a motion to approve Robert
subject to his signing it. The
Doss presented copies of a letter from the Pension Review Board.
Doss explained that there is a problem with the increased
benefits for three volunteer surviving spouses. Doss stated the
three surviving spouses are Ms. Barnes, Ms. Morris, and Ms.
Polly. The Pension Review Board said the increase was just for
retired firemen and not spouses so the benefit for the three
spouses should be $45 per month instead of $50.
The Pension Review Board also said that Mr. Carl and Mr. Christie
should be receiving $65 per month. Somewhere it is documented
that they have more than 20 years of service. Floyd Carl and
Arnold Christie both had 20 years of service.
Doss explained he had been in contact with Cathyrn Hinshaw and
Camus. He stated the Insurance turnback check will not be
processed until this situation is corrected. Doss explained he
sent a list showing the years of service of the different people.
Doss stated he told Hinshaw and Camus that the proposed increase
will include volunteers and paid retirees.
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June 27, 1996
MORE OLD BUSINESS
Proposed Benefit Increase
Doss pointed out a corrected that needed to be made on the draft
of the proposed resolution for a benefit increase. Doss stated
the resolution states "be it resolved by the City Council of the
City of Fayetteville, Arkansas".
Paul agreed that it should be changed as stated she would take
care of it.
Retired Member Election
Paul stated she sent out ballots in the pension checks on June 15
for retirees to elect a retired Board member. Retirees were
given two weeks to return the ballots. The deadline is July 1.
Paul stated she would report the results at the next meeting.
In answer to a question from Boudrey, Paul stated 19 ballots have
been returned. Darrell Judy has eight votes, Bill Morris has six
votes, and Carl Springston has four votes.
Everett Cole
Doss asked if Paul had any additional information about the
person inquiring about Everett Cole's widows benefits.
Paul explained that she did not.
Doss stated Mr. Cole was divorced after he$ retired from the Fire
Department long ago. It could have dust been a relative who was
wondering if there were any additional benefits.
Paul stated the woman said she was his wife.
Doss stated his wife's name was Bullah. Doss explained that a
woman named Helen called to inquire about Mr. Cole benefits.
Doss stated a person could not receive benefits until they
submitted a written request to the Board. According to the
pension laws, if a person divorces and remarries after he retires
from the Department, the new wife does not receive benefits.
Paul stated a written request has not been submitted.
In answer to a question from Doss, Paul stated Cole's name should
be removed from the pension list. Paul checked the July pension
list a second time for any changes.
In answer to a question from Doss, Paul stated the Board will
probably have to approve a revised July list at the next meeting.
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June 27, 1996
Doss pointed out that the pension list for July lists Mrs.
Everett Cole.
Paul stated the June pension list has Everett Cole
July list has Mrs. Everett Cole listed.
In answer to a question from Doss, Paul stated the
is distributed by the Accounting Division.
listed and the
pension list
Doss stated he would look into it.
Paul stated the Board might not need to take any action on this
issue until the situation is more clear. The Board can fix
things at the next meeting.
Doss left the meeting to call Denise Land in Accounting.
Doss returned and reported that nobody called back to request any
benefits. The Accounting Division knew there was some question
regarding the issue. They placed the name in the space on the
pension list just in case it was going to be needed. The Board
should remove Everett Cole's name from the pension list since he
passed away.
Judy, seconded by Boudrey, made a motion to remove Everett Cole's
name from the pension list. The motion passed unanimously.
ADDITIONAL NEW BUSINESS
Paul reported that she had just been given a faxed investment
report from Merrill Lynch. Paul distributed copies to each
member.
The Board reviewed and briefly discussed the investment report.
DROP Application Cont'd.
Boudrey asked if Robert Johnson would be considered as a retiree
and receive 65% because he is a DROP member.
Doss pointed out that the member election form states that raises
given to retirees are also given to DROP participants. Doss
stated when someone signs up for the DROP they do not stay at
50%. Increases are given to DROP participants.
The Board reviewed and discussed Section 6.04 of the Fayetteville
Firemen's Pension and Relief Fund Rules and Regulations for
Fayetteville Firemen's Deferred Retirement Option Plan. Doss
stated the regulations say, Any retiree raises granted to all
retirees, or overall benefit increases, shall also be given to
persons on DROP".
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June 27, 1996
The Board discussed the possible proposed benefit increase and
how it will effect retirees and DROP participants.
Paul reported that the next meeting is scheduled for July 25,
1996.
There being no further business, Doss adjourned the meeting at
11:45 a.m.
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