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Home My WebLink About1997-06-27 - Agendas - FinalFAYETTEVILLE 411 THE CITY OF FAYETTEVILLE, ARKANSAS TRACI PAUL, CITY CLERK TO: Firemen's Pension Board Members FROM: Traci Paul, City Clerk/Treasurer TP DATE: June 17, 1997 SUBJECT: Firemen's Pension Board Meeting The next Firemen's Pension Board meeting is Thursday, June 26, 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 May 29 meeting, a revised pension list for June and the pension list for July, 1997. Attachments • 113 WEST MOUNTAIN 72701 501 5754323 4 AGENDA FIREMEN'S PENSION AND RELIEF BOARD June 26, 1997 11:00 a.m. City Hall Room 326 1. Approval of the minutes of May 29, 1997. 2. Approval of Pension Lists for June and July 1997. 3 Investment Report, Merrill Lynch 4 Old Business 5 New Business A. ANNOUNCE NOMINEES ffOIz IZEf K'Eb posinO'J. 6 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 29, 1997, 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, Ron Wood, Darrell Judy, and City Clerk/Treasurer Traci Paul ABSENT: Howard Boudrey CALL TO ORDER Mayor Hanna called the meeting to order. MINUTES Reagan, seconded by Judy, moved to approve the minutes of the April 24, 1997 meeting. The motion passed unanimously. PENSION LIST • Paul reported there were revisions to the April pension list and the May pension list. The June pension list includes the benefit increases and the requested corrections. Reagan, seconded by Doss, made a motion to approve the pension list. The motion passed unanimously. INVESTMENT REPORT Richard Yada, Merrill Lynch, distributed and reviewed the Portfolio Performance Report dated December 31, 1996 through May 27, 1997. Yada stated overall, the portfolio is on track and things are looking good. Yada stated the valuation as of May 27 is $10,046,665. He explained he did not anticipate going over the $10 million mark until the first part of 1998. Yada stated we have had two good years. The asset allocation is doing well. Reagan expressed some concern about New Mexico and asked Yada to explain to the Board the reason New Mexico is staying down. May 29, 1997 Yada stated it is the style of the management. New Mexico is a value style where as Keystone is growth style. The S & P 500 or the Dow has a certain rate of return and sometimes the value style will outperform the S & P and sometimes the growth style will. The last two years, the growth style has been in favor. Yada explained that he was not concemed with New Mexico's underperformance. Yada stated there has not been a major correction in six years. This portfolio is conservatively positioned. Stocks make up about 45%. In response to a question from Mayor Hanna, Yada explained the asset allocation is set up so that over time it will get us to where we want to be. The Board briefly discussed the asset allocation. In answer -to a question from Reagan regarding the overseas markets, Yada referred to the Portfolio Performance Report. Yada stated there were three different investments made. One each in January of 1996, May of 1996, and September of 1996. Yada reviewed the numbers listed on the report. Yada stated if it wasn't for Japan, those things would be doing better. In the last two weeks, Japan has made a big move. Analysts feel that Japan is where the most opportunity is right now. OLD BUSINESS Roger and Marvie Lewis Reagan stated he spoke with Roger Lewis. Reagan reported that Lewis's attomey advised against pursuing the situation. Reagan stated he asked Lewis to contact Traci Paul. Paul stated she spoke with Lewis who stated he was not going to pursue any changes in his retirement. Paul reported that Lewis stated Marvie Lewis should be entitled to half of his benefit increase. His notification to the City was the phone conversation. He was not planning on submitting a written response. In answer to a question from Mayor Hanna, Reagan stated the Board needs to release the funds for Lewis' increase. Paul stated Lewis has not been given his increase yet. Reagan, seconded by Doss, made a motion to accept Lewis' verbal statement to leave the benefit distribution as it is and to release the funds for bis increase with half of the increase going to Marvie Lewis. The motion passed unanimously. 2 • NEW BUSINESS May 29, 1997 DROP Application Mayor Hanna stated a DROP Application has been submitted by Mike Bonaduce. In answer to a question from Reagan, Paul stated the numbers on the application came from Accounting. Reagan, seconded by Wood, made a motion to approve Mike Bonaduce's DROP Application. The motion passed unanimously. Twenty Year Certificates Paul stated she had twenty year certificates for Mike Bonaduce and Gary John Dill. Paul asked each Board member to sign the certificates. There being no further business, the meeting adjourned at 11:35 a.m. 3 FIREMEN'S RELIEF AND PENSION FUND JUNE 1997 TRACI PAUL TREASURER • THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH OF JUNE 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 1,191.06 100.00 55.00 55.00 1,641.57 180.00 1,383.66 1,088.98 287 68 55.00 75.00 1,182.35 55.00 55.00 377.50 55.00 707.84 1,171 39 100.00 55.00 55.00 1,525.81 1,088.98 1,008.97 100.00 1,131.00 130.00 55.00 41750 55.00 1,088.98 1,229.66 1,229.67 1,902.69 175.00 1,078.16 29 35 1,159.11 100.00 55.00 30.00 886.19 50.00 863.01 125.00 55.00 55.00 70.00 80.00 1,448.31 1,646.01 160.00 1,255.55 65.81 1,556.57 200.00 55.00 55 00 923.01 1,007.92 20.00 692.50 42.50 390.00 11626.02' 126.02 609.88 50.00 590 36 50.00 80.00 80.00 ST. TAX 50.00 10.00 10.00 20.00 30.00 50.00 9 88 NET 1,091.06 55.00 55.00 1,461.57 1,383.66 751.30 55.00 75.00 1,182.35 55.00 55.00 377.50 55.00 707.84 1,061.39 55.00 55.00 1,525.81 1,088.98 898.97 1,001.00 55.00 417.50 55.00 1,088.98 1,229.66 1,229.67 1,707 69 1,048.81 1,059.11 25.00 836.19 738.01 55.00 55.00 70.00 80.00 1,448.31 1,486.01 1,189.74 1,326.57 55.00 55.00 923.01 987.92 650.00 390.00 1,450.00 550.00 540.36 80.00 80.00 28 WATTS, DONALD 59 WATTS, WAYNE 52 WRIGHT, RANDALL DROP EMPLOYEES JOHNSON, ROBERT MILLER, KENNETH WARFORD, THOMAS 400.00 1,191.51 1,128.98 96.17 150.00 400.00 1,095.34 978.98 39,030.70 2,367.53 179.88 36,483.29 2,042.47 2,129.57 1,659.70 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. ECRETARY /11444/4 CHAIRMAN AN RESIDENT ACKNOWLEDGEMENT • STATE OF ARKANSAS ) COUNTY OF WASHINGTON) )SS SWORN TO AND SUBSCRIBED BEFORE ME THIS qt/ DAY OF re. // , 1997. ante 1 NOY PUBLIC MY COMMISSION EXPIRES: 03- o/- a OQr 1 FIREMEN'S RELIEF AND PENSION FUND JULY 1997 TRACI PAUL TREASURER • THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH OF JULY 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 1,191.06 100.00 55.00 55.00 1,641.57 180.00 1,383.66 1,088.98 287 68 55.00 75.00 1,182.35 55.00 55.00 377.50 55.00 707.84 1,171.39 100.00 55.00 55.00 1,525.81 1,088.98 1,008.97 100.00 1,131.00 130.00 55.00 41750 55.00 1,088.98 570.91 570.92 1,902.69 175.00 1,078.16 29.35 1,159.11 100.00 55.00 30.00 886.19 50.00 863.01 125.00 55.00 55.00 70.00 80.00 1,448.31 1,646.01 160.00 1,255.55 65.81 1,556.57 200.00 55.00 55.00 923.01 1,007.92 20.00 692.50 42.50 390.00 1,626.02 126.02 609.88 50.00 590 36 50.00 80.00 80.00 ST. TAX 50.00 10.00 10.00 20.00 30.00 50.00 9.88 NET 1,091.06 55.00 55.00 1,461.57 1,383.66 751.30 55.00 75.00 1,182.35 55.00 55.00 377.50 55.00 707.84 1,061.39 55.00 55.00 1,525.81 1,088.98 898.97 1,001.00 55.00 417.50 55.00 1,088.98 570.91 570.92 1 707 69 1,048.81 1,059.11 25.00 836.19 738.01 55.00 55.00 70.00 80.00 1,448.31 1,486.01 1,189.74 1,326.57 55.00 55.00 923.01 987.92 650.00 390.00 1,450.00 550.00 540.36 80.00 80.00 • 28 WATTS, DONALD 59 WATTS, WAYNE 52 WRIGHT, RANDALL DROP EMPLOYEES JOHNSON, ROBERT MILLER, KENNETH WARFORD, THOMAS 400.00 1,191.51 1,128.98 96.17 150.00 400 00 1,095.34 978.98 37,713.20 2,367.53 179.88 35,165 79 2,042.47 2,129.57 1,659.70 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. %3n c1 1 t SECRETARY CHAIRMAN A ACKNOWLEDGEMENT • STATE OF ARKANSAS ) COUNTY OF WASHINGTON) )SS SWORN TO AND SUBSCRIBED BEFORE ME THIS9t( DAY OF (Jtr I y 11997. /yam NO Y PUBLIC MY COMMISSION EXPIRES: 3 -/ -WooS' .° lot ... .fry'.. • vtOTA R y .p : oes • N:: ..... COUNt�I\O` JUN 26 '97 00:34RM MERRILL LYNCH L R P.2 EAYETTEVILL.E FIRE DEPT PENSION AND RELIEF FUND PORTFOLIO PERFORMANCE= 12/31./96 TC' 0:/3:1/97 NM CAPITAL, MANAGEMENT INCOME ACCOUNT KEYSTONE ASSET MGNT 3 MONTHS TREASURY DILLS DJIA W/DIV REINVESTED $ E P 500 W/DIV REINVEST LONG TERM TREASURY BONDS H IGH{ GRADE CORP E'C)NDS CPI <APR) NM CAPITAL itime wtd) INCOME ACCOUNT KEYSTONE nssEr Iif3NT 12/31/96 $31967,77b >, 51. El, 04a 1,201,345 ijo o 12/31/95 •4• j.42 3. +34.94 +27. 63 +23. SI + 2.67 +1.5. i G +'15,61 January 1996 original inv. Dow United Kingdom J apan Hong Kong..(3/97/ MAY 1996 DOW United Kingdom Japan ,,,,, Hong Kong...„ .. SEPT 1996 Dow United Kingdom., Japan Hong Kong :rrl:x 751000 75,000 75,000 t75,000 75,000 751000 75,000 $751000 75s000 75,000 75,000 05/31/97 $4 2391672 4,5/4,5G'2 1,3291789 /0 7 / 12/31/9 05/31/97 5..a 1 +2.19,49 +•2::. 98 - 1. 21 + 1.61 + 3.32 + 11.37 + 4.CLJ +17.91 4/30/97 44; 54, 53B 741 858 45,599 68, 796 881792 86,084 494 768 741637 $ 651391 791409 51,615 74,622 + ._.28 +14.59 + 15.38 + 0.16 +- 0.60 1.01 + 8.46 + 1.71 +10.91 B CSS/31 /37 $ 101,155 761620 51,747 77,204 93,916 87, 909 54/691 8319514 ti 901350 80/967 57,687 62,777 t0 101, 140-x' FAYETTEVILLE THE CITY OF FAYETTEVILLE, ARKANSAS TRACI PAUL, CITY CLERK TO: Fire Pension Retirees. FROM: Traci Paul, City Clerk/Treasurer DATE: June 10, 1997 SUBJECT: FIRE PENSION BOARD ELECTION TIS 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 1997 and ending in May of 1999. The position is currently being held by Howard Boudrey who is not seeking re-election. The Board is accepting nominations for a retired member to serve this term. Please submit any nominations to the City Clerk's • Office by Monday, June 23 If you have any questions, please feel free to call. • 113 WEST MOUNTAIN 72701 501 575-8323 FAYETTEVILEE • THE CITY OF FAYETTEVILLE, ARKANSAS TRACI PAUL, CITY CLERK TO: Fire Pension Retirees FROM: Traci Paul, City Clerk/Treasurer Th DATE: June 10, 1997 SUBJECT: FIRE PENSION BOARD ELECTION 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 1997 and ending in May of 1999. The position is currently being held by Howard Boudrey who is not seeking re-election. The Board is accepting nominations for a retired member to serve this term. Please submit any nominations to the City Clerk's ,1111 Office by Monday, June 23 If you, have any questions, please feel free to call. -- --, • I u/ou/d oc Lee 7ScIni/ 8///,670,+), tion ,1 ale e -A 5rticeeG /4Ward go Lear v 113 WEST MOUNTAIN 72701 501 575-8323 • as a RECEIVED JUN 1 8 1991 CITY CLERK'S OFFICE 1 F • IMPORTANT MESSAGE TO T I ! DATE Wed / • (n' e5 TIME 9../S A.M. M Rahe%/I I/n-(84 71- OF Ret,'k'1 r1 Fre /coati PHONE 4f Si? -,,R5? Area Code Number Extension FAX TELEPHONED PLEASE CALL CAME TO SEE YOU RETURNED YOUR CALL WANTS TO SEE YOU WILL CALL AGAIN WILL FAX YOU URGENT! Message /\/01r iih. itt h<oC.t./Orrl gniiriry Signed 1 F •