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Home My WebLink About1997-01-15 - Agendas - FinalFAYETTEVI LLE T THE CITY OF FAYETTEVILLE, ARKANSAS TRACI PAUL, CITY CLERK TO: Firemen's Pension Board Members FROM: Traci Paul, City Clerk/Treasurer TP DATE: January 15, 1997 SUBJECT: Firemen's Pension Board Meeting The next Firemen's Pension Board meeting is Thursday, January 30, 1997, at 11:00 a.m., in room 326 of City Hall. Attached, please find a copy of the agenda for the upcoming meeting, the minutes from the December 12 meeting, and the pension list for February, 1997. Attachments 113 WEST MOUNTAIN 72701 501 5758323 AGENDA FIREMEN'S PENSION AND RELIEF BOARD January 30, 1997 11:00 a.m. City Hall Room 326 1. Approval of the minutes of December 12, 1996. 2. Approval of Pension List for February, 1997. 3. Investment Report, Merrill Lynch 4. Old Business A. Rate Increase discussion B. Report on Pension Affidavits 5. New Business 6. Adjournment • • • WILL MAIL A L ET)tic F12I IjA ` . HOLb FCt3 PENSION CHECK. • • MINUTES OF A MEETING OF THE FIRE PENSION BOARD A meeting of the Fayetteville Firemen's Pension and Relief Board was held on Thursday, December 12, 1996, at 11:00 a.m., in room 326, of the City Administration Building, 113 W. Mountain, Fayetteville, Arkansas. PRESENT: ABSENT: Mayor Hanna, Darrell Judy, Marion Doss, Ron Wood, Howard Boudrey and City Clerk/Treasurer Traci Paul Pete Reagan CALL TO ORDER Mayor Hanna called the meeting to order. MINUTES Doss moved to approve the minutes of the October 31, 1996 meeting. Boudrey seconded. The motion passed unanimously. PENSION LIST Paul reported no changes. Doss moved to approve the December pension list. Boudrey seconded. The motion passed unanimously. Regarding the January list, Doss stated he'd received a letter from PRB regarding the rate increase request. Mayor Hanna felt there should be some input from accounting. He would .rather move slow and make it retroactive than do something that would have to be changed. Doss distributed the letter. PRB does not meet until February 13. He'd thought about waiting until they met, then doing it retroactive to January. Springdale had given theirs three months before PRB met and Cathyrn had the authority to okay that. He would hate to give an increase that PRB might deny and then it have to be undone. - Mayor Hanna explained he would like to have Administrative Services Director speak to the financial implications, if any, and also have the City Attorney sit in on the discussion. Doss stated the City Attorney may have written the letter and the actuary has been done, which is why it looks okay to him; but he would not want to do anything to jeopardize the pension plan. Mayor Hanna suggested passing the January pension list the way it is and letting everybody study the issue. 1 • December 12, 1997 Doss stated at some point he would like to give a raise to those already making 6596 more than what their salary was. There are about ten on the list who are not eligible for this increase. Doss moved to approve the January list. Wood seconded. The motion passed unanimously. Mayor Hanna stated this will be considered again under Old Business at the next meeting. FINANCIAL REPORT Paul stated Merrill Lynch was not present but had sent a report. Mayor Hanna asked for comments on the report. There were none. OLD BUSINESS AFFIDAVITS Paul reported she has received all but 14 affidavits. Grace Polly had someone else .sign for her and it was okayed by the granddaughter. NEW BUSINESS MONEY MANAGER PRESENTATIONS Doss stated he has been contacted by other money managers. He had information for the City Clerk to keep on file. Mayor Hanna stated there was no need to hear presentations unless the Board intended to make a change. It would be proper for a company to write a letter to the Board through the City Clerk requesting an opportunity to make a presentation and the Board would act on the letter. There being no further business, the meeting adjourned at 11:30. 2 FIREMEN'S RELIEF AND PENSION FUND FEBRUARY 1997 TRACI PAUL TREASURER • THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE ' MONTH OF FEBRUARY 1997. 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. 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 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, ELIENE 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 27 TUNE, MILDRED MRS. 26 TUNE, BILLIE SUE GROSS FED. TAX 916.20 100.00 55.00 55.00 1,266.21 180.00 1,066.66 837 68 287.68 50.00 75.00 909.50 50.00 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 50.00 41750 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 50.00 65.00 70.00 1,114.11 1,284.63 160.00 965.81 65.81 1,201.98 200.00 50.00 55.00 915.78 783.74 20.00 692.50 42.50 390.00 1,626.02 126.02 609.88 50.00 590.36 50.00 70.00 70.00 ST. TAX NET 816.20 55.00 55.00 1,086.21 1,066.66 50.00 500.00 50.00 75.00 909.50 50.00 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 50.00 417.50 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 50.00 65.00 70.00 1,114.11 1,124 63 900.00 30.00 971 98 50.00 55.00 915.78 763.74 650.00 390.00 50.00 1,450.00 9.88 550.00 540.36 70.00 70.00 28 WATTS, DONALD 59 WATTS, WAYNE 52 WRIGHT, RANDALL 400.00 921.17 877 68 96.17 150.00 400.00 825.00 727 68 31,614.91 2,367.53 179.88 29,067.50 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. kaki. 411 S CRETARY CHAIRMAN ANDPRESIDENT ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON) )SS ill SWORN TO AND SUBSCRIBED BEFORE ME THIS 4M DAY OF FC4. , 1997. onnitteemstot 10. ef „•Lp M M. .E . 6' 0,, +q•• 0.•• NOTARY ' It II* l ante y' s• AV BL IC ?z? 1ii1. ��COUNZV`��"`� dA.®Y Ate-6e PUBLIC MY COMMISSION EXPIRES Z -./- o?do, r `FAYETTEVI LLE THE CRY OF FAYETTEVILLE, ARKANSAS . DEPARTMENTAL CORRESPONDENCE RECEIVED ITEC 1 6 1996 CITY CLERK'S OFFICE To; Pete Reagan, Fire Pension Board Member From: Marilyn J. Cramer, Accounting Diana, F/ Date: December 13, 1996 ��J444 Subject: DROP Plan Attached is a copy of a memo to you dated June 26, 1996 to which I still have not received a reply. When I spoke with you on October 1, you said that you were going out of town, but you assured me that, upon your return, you would set up a meeting of the committee appointed at the Pension Board Meeting so that these questions could be discussed. I have called you several times since our telephone conversation to discuss the DROP Plan, but my calls have not been returned. These questions must be answered before year end. Please set up a meeting so that these issues may be addressed. Thank you for your immediate attention to this matter. lcc ire Pension Board LA/t6 ar itL/ ,e FA'YETTEVI LLE .4IHE CITU OF FAYETTEVILLE ARKANSAS • DEPARTMENTAL CORRESPONDENCE • • To: Pete Reagan, Fire Pension Board Member From. Marilyn J. Cramer, Accounting Manag Date: June 26, 1996 Subject: DROP Plan There are still questions which need to be answered and possible changes or clarifications which need to be made to the DROP Plan for the Firemen's Pension and Relief Plan. It would save work for the Accounting and Audit Division if these questions could be addressed soon. When I spoke with you in early May, you said you would set up a meeting of the committee appointed at the Pension Board Meeting. Please advise me as to the date and time of this meeting. Thanks. • JAN -30-1997 08:56 FAYETTEVILLE FIRE DEPT PENSION AND RELIEF FUND PORTFOLIO PERFORMANCE 12/31/95 TO 12/21/96 12/31/95 12:31/96 NM CAPITAL MANAGEMENT $31891,270 $31967.776 — 40.000 • — 300, 000 INCOME ACCOUNT 37848/643 4,518,042 +. 40, 000 +300,000 KEYSTONE ASSET MGT 1,018,776 1,2O1845 3 — MONTHS TREASURY RILLS DJIA W/DIV REINVESTED S & P 500 W/DIV REINVEST LONG TERM TREASURY PONDS H IGH GRADE CORP PONDS CPI (NOV) NM CAPITAL (time wtd) INCOME ACCOUNT KEYSTONE ASSET MGMT W ITHDRAWALS: 03/13/96 04/12/96 08/13/96 09/11/96 • 246,000 10,000 10, 000 2p, 000 12/31/95 +• 5.46 + 7".5.c13 + 34. 94 +27. 63 +23.51 + 2.67 + 15.68 +15.61 12/31/96 +- 5.31 +29. 49 +22.98 — i.21 + 1.61 + 3.62 + 11.37 + 4.25 + 17.91 0 P.02/02