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Home My WebLink About1998-09-29 - Agendas - Final• • 1 AGENDA FIRE PENSION AND RELIEF FUND October 29, 1998 City Administration Room 326 1. Approval of the minutes 2. Approval of the Pension List 3. Old Business a. Review of Asset to be managed 4. Investment report 5. New Business a. Approval to pay NCPERS annual dues 6. Information • • • September 24, 1998 FIRE' PENSION MINUTES OF A MEETING A meeting of the Fayetteville Fire Pension and Relief Board was held on September 24, 1998, at 11:00 a m. in the City Administration Building Room 326. PRESENT Mayor Fred Hanna, Manon Doss, Darrel Judy, Bill Morris, Ron Wood, Pete Reagan, and Heather Woodruff. MINUTES Marion Doss moved to approve the minutes of the August 27, 1998 meeting. Bill Morris seconded the motion. Upon roll call the motion carried unanimously. PENSION LIST Mr. Ron Wood moved to approve the Pension List. Mr. Darrel Judy seconded the motion. Upon roll call the motion carried unanimously. • INVESTMENT REPORT Mr. Richard Yada stated the market had come down since July. He read over the investment list. He stated there would still be choppy times in the market. He stated they preferred less equity and more money m bonds He believed interest rates would be coming down for quiet some time. He thought the three month Treasury Bills would be the best performer. The fund was currently at the same point they were at the beginning of the year. • Mr. Curtis Williams stated August was the third worst month in modern history for the stock market. It was his opinion that the Federal Government would cut interest rates next month. The cut would be more symbolic than anything He felt there would be several more cuts before the end of this year Their main concern was no longer mflation. It was deflation. There was currently a weakening in the world's financial market. It would hit harder here in the future. The US economy was going to slow. They were not formally forecasting a recession. They thought interest rates would be going a lot lower than they were today. Money Market yields would be less than 2%. CD rates, 2-21/2% and long bonds yield below 5%. Their portfoho needed to exceed inflation by 2% to grow the fund. They had done extremely well over the last few years, but he felt the interest rates would stay down for a long time. It was gomg to be tough to gain yield in the days to come. He thought there was going to be more volatility in the stock market. He felt it would take some time to play out. He felt the markets would find equilibrium. He noted there were fewer shares on the market than there were several years ago. He added the A September 24, 1998 demographics and the political environment were favorable for investment. In response to questions from Mr. Doss, Mr. Williams stated Thailand was down 80% from their high and Hong Kong was down about 60% and Japan's market had been down for 10 years He felt the economy in this country would continue to weaken throughout next year He did not believe the equity market would be good for any time soon. They could make money, but they would not be getting the high yields they had been getting the past few years In response to questions from Wood, Mr. Williams stated they had terminated the funds foreign investments and had placed them in a money market. He stated they were looking for steady interest rates. In response to questions regarding the foreign investments, Mr. Williams stated overall they had made a profit. The Dow and the United Kingdom had made up for what Japan and Hong Kong had taken away. Mr. Yada stated they would need a letter from the secretary stated they were termmatmg NM Capitol and to direct the money to Merrill Lynch. NEW BUSINESS Mayor Hanna stated he had received a letter with the State income turn back. He asked the members what they wished to do with the money. Mr. Williams suggested an income account rather than an equity account. Mr. Wood moved to place the turn back money into an income account managed by Memll Lynch. Mr. Doss seconded the motion Upon roll call the motion camed unanimously. The comnuttee then reviewed the summary of the benefit increase. Meeting Adjourned at 11:35 a.m. 2 FIREMEN'S RELIEF AND PENSION FUND NOVEMBER 1998 it E FOLLOWING ARE THE OBIJGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE ONTH OF NOVEMBER 1998. YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED. DATE OF EMP# RETIREMENT 43 3/86 2 3/75 63 5/72 44 9/86 45 9/86 49 7/88 4 6/67 5 5/72 57 5/90 6 4/68 8 10/76 6/66 2/66 2/76 5/84 61 10 11 38 33 5/80 34 6/79 64 4/95 47 5/88 37 3/84 54 5/89 12 3/60 13 10/67 14 7/74 51 10/88 60 12/89 55 12/89 40 9/85 50 9/88 39 4/85 35 2/82 15 4/77 29 8/81 42 2/86 17 2/66 16 4/64 62 10/68 48 7/88 58 9/90 46 5/88 53 289 20 12/52 22 4/73 30 3/81 41 9/85 23 • 67 10/90/9 8 66 8/98 56 2/90 36 5/76 NAME BAIRD, RICHARD H. BLACKARD, PAUL BOLAIN, ANN BOUDREY, BETTY MRS. BOUDREY, HOWARD BOUDREY, JACK CARL, FLOYD JR CASELMAN, ARTHUR CATE, ROY CHRISTIE, ARNOLD COUNTS, WAYNE DAVIS, BEULAH F. DEARING, EMMA MRS. FARRAR,ALONZO FRALEY JOSEPH G. HARRIS, BILL C. HARRIS, JAMES E. JORDAN, CHARLIE JUDY, DARRELL KING, ARNOLD D. KING, ARVIL LANE, HOPE MRS LAYER, MERLIN LEE, HAROLD LEWIS, CHARLES LEWIS, MARVIE LEWIS, ROGER LOGUE, PAUL D. MASON, LARRY MC ARTHUR, RONALD A. MC CHRISTIAN, DWAYNE , MC WHORTER, CHARLES MILLER, DONALD MOORE, JAMES H. MORRIS, WILKIE MRS. MORRIS, WILLIAM H. MORRISON, EUENE MULLENS, DENNIS W. OSBURN, EDWARD OSBURN, TROY POAGE, LARRY POU -Y, GRACE A. MRS. REED, JOE SCHADER, EARVEL SCHADER, TROY SKELTON, BURL L. SKELTON, KATHY SKELTON, PAUUNE SKELTON, ROY SPRINGSTON, CARL r 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 55.00 417.50 55.00 1,088.98 570 91 570.92 50.00 1,902.69 200.00 1,078.16 78.16 1,159.11 100.00 55.00 30.00 886.19 80.00 863.01 125.00 55.00 55.00 70.00 80.00 1,448.31 1,646.01 160.00 1,255.55 65.81 1,556.57 210.00 55.00 55.00 923.01 1,007.92 57.00 692.50 42.50 417.80 390.00 1,208.22 210.00 609.88 50.00 ST. TAX NET 1,091.06 55.00 55.00 1,461.57 1,383.66 50.00 751.30 55.00 75.00 1,182.35 55:00 55.00 377.50 55.00 707.84 10.00 1,061.39 55.00 55.00 1,525.81 1,088.98 10.00 898.97 1,001.00 55.00 41750 55.00 1,088.98 570.91 10.00 510.92 25.00 1,677 69 1,000.00 1,059.11 25.00 806.19 738.01 55.00 55.00 70.00 80.00 1,448.31 1,486.01 1,189.74 60.00 1,286.57 55.00 55.00 923.01 950.92 650.00 417.80 390.00 63.40 934.82 9.88 550 00 25 2/75 STOUT, ORVILLE 27 3/71 TUNE, MILDRED MRS. 26 3/66 TUNE, BILLIE SUE 28 7/68 WATTS, DONALD 59 5/91 WATTS, WAYNE 52 9/88 WRIGHT, RANDALL DROP EMPLOYEES JOHNSON, ROBERT MILLER KENNETH WARFORD, THOMAS BONADUCE, MICHAEL DILL, GARY GAGE, TOMMY FREEDLE, LARRY 590.36 50.00 80.00 80.00 400.00 1,191.51 96.17 1,128.98 150.00 540.36 80.00 80.00 400.00 1,095.34 • 978.98 37,713.20 2,652.32 238.28 34,822.60 2,042.47 2,129.57 1,659.70 1,975.38 2,396.21 1,716.25 2,550.40 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. SECRETARY CHAIRMAN AND PRESIDENT ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON) )SS SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF , 1998. NOTARY PUBLIC MY COMMISSION EXPIRES: • • • 1,77;n.Z7.4I 3910 N. Camel Expressway Suite 910 Dsfss, Taco 75206 (214) 930.2117 To: \ V a"in Far, From: Patti Fox t Re: Pixlvik Cate: CC: S1S-S57 • page.: g plus (neer 0 Urgent 0 For Review 0 knee Commit 0 Please Reply Q Please Recycle . . . . . . . . . • • • 4 t'd Strilea'l4ftw WHht :80 86, 9t 130 OCT -15-1990 15300 1 MERRILL LYNCH 609 282 3504 P.08111 Inlbal page for Inatituttonal C/lent. and Personal Ma Data Sheet For Institutional Clients And Personal Trusts • Portfolio Typo Additional information Contributions • Withdrawals Intorno Requiernants Special Considerations Custodianship 1 (Dela Sheet) 2•d • • • MCrrrll I_ynCh AssetMarra+yenient Private Portfolio Grorrh sl Name of Portfolio % beG%Ana Address' /03 JMr TJ?eur.:T�. a .•�� , AC. 73101 Contact Person- sw Is/ Telephone Number SYS --?3a3 Fax Number Pr £717 Tax ID Number. %-OrPWO 6 Fiscal Year. 10/ This MLAM-PPG Investment Portfolio is a Corporate Surplus 0 Endowment/Foundation Pension Plan 0 Charitable Organization ❑ Profit Sharing Plan 0 Personal 'hast ❑ other Is the Portfolio covered by ERISA? 0 Yes No Ie the Portfolio tax exempt In the U.S.? ,E' Yes 0 No What is the current estimated market value of the assets that will be placed under management In this MLAM-PPG Portfolio? USa 4,! ....::..: What percentage of your total investment assets will be represented by this MLAM-PPG Portfollo?Sa % What anticipated annual contributions do you plan to make, if ' any, to this MLAM-PPG Portfolio? US • When? Do you anticipate any withdrawals from this MLAM•PPG Portfolio? 0 Yes [ 'l0 Current Year? Over Next 2 Years? Do you have a minimum annual Income requirement? ❑ Yes 2 -Flo If yes, how much? ' If Merrill Lynch, Pierce, Fenner & Smith Incorporated le not the custodian of the assets In the Portfolio, please complete the following: Name of Custodian• Mailing Address of Custodian - Telephony Fax Number Account Number Contact Person' s iida'WeflW WGVT :80 86. 9i 100 • • Cash Option Ae • tinittals here) • • Assets to bc- Maria cled To be completed AND INITIALED by all clients I wish to utilize MLAM Private Portfolio Group's services for the fir. attached list of the assets in accordance with the terms of our agreement. • Cash and Money Funds to be Managed by MLAM-PPO: US$t Securities Account: ML Acct !Custodian Acct# S& 3 ' 90 diSt :,I -i'.1:.`.` -':I ll'r'=. :',.'.i-iy,°..I( :-•hill L11! ":!i t"i= 11`. I ISP /..11 li, F; -G • I understand that all holding's listed or in the seeuritles mount listed not meeting MLAM Private Portfolio. Group's criteria must be liquidated prior to MLAM Private Portfolio Group commencing management unless I list them as exceptions below. If I have selected a wrap fee arrangement, no additional brokerage commissions will be eh mad on MLPF(i,S agency trades In this Liquidation. It 1 have selected a standard fee schedule with MLAM-PPG, I will pay standard brokerage commissions on trades in this liquidation. In either case 1 will pay markups or markdowns to dealers responsible for effecting principal transactions and standard brokerage commissions on agency trades effected other than through MLPF&S. ALL CLIENTS must 'SON to aeknowtedge the terms on this page AND to accept Option A, B, or C. If I select Option B or 0, I aoknowledge it is possible that ALL holdings not listed below as exceptions may be liquidated and that the liquidation may have adverse'tax consequences for me. I4uISlen Cptten Ia: efit (initials nary Lisped: Son Option Ot Ontuals nwv) The Initial holdings of the Portfolio am all cash. I am not specifying any exceptions to the above liquidation process and authorize and direct It to take place. I have listed below. and/or creseareferenced to a listing on a separate sheet holdings In the above securities account that I am specifying as exceptions to the above liquidation process. 1 understand that these assets will NOT be Included with those under management I authorize and direct the above liquidation process for holdings not listed here as exceptions. Review Options: By my Initials, i have indicated whether 1 wish to review and approve the Ilat of liquidation transactions before they are placed. If 1 elect to review this lint, I understand that my review m y delay MLAM- PPG's commencing management of the Portfolio: Review No Retie vp'9�� (Malin* piucsl ham 1 1 .1 ;di I (c. ), 1:',11-4.1 I =J-1 I' -i It iii': ! II -::I' .� .':f l-: ldl! 1 I:; �( i.I_i_h',i:-LLQ E:I I It 1-71:1-:, NO1t'srALL exeeption% h eIuding oath, mutest Acrd shores Ind efharaaer+ddes, S91 not be managed by MLAM-PPG and should be moved out o1 the MLAM-PPG managed pwSl o. No. of Shame Par %dueotBonds Name at Seetatis L — Cho Complete Ties of Company and I4 5 (Data Sheet) E'd • , s inda'ww J WtiS1 :80 86. 9t 100 • • • • OM1.. -17-1770 • • 17'01 ,CR'1L6 L, rti,7 Inv° st111._11I Objective Select only ONE QbJectiets A p Preservation of Capital Investnilent Objective (Balan 007 COC J7C9 r.10/12 To be completed by al! Giants • Investment portfolios managed by MLAM•PPG we generally categorized by one of four broad investment objectives: ■ Preservation of Capital ■ Growth • Growth and Income ■ Fixed Income Different portfolio types may be available within these objectives, depending on the size of Client's Portfolio. Please review the definition° of each Investment objective and the eligibility requirements for portfolio types carefully before selecting one objective, and If for, a portfolio type. Primary objective is to seek safety of principal. Client seeks limited portfolio volatility and a relatively high and secure level of current income Selection of preservation of capital Investment objective implies a wltMgness to assume both a level of risk and total return less than that of common stocks in general. Fixed Income securities will generally represent a significant portion of Portfolio commitments. A preservation of capital Portfolio will be comprised primarily of U.S. domestic securities; however, the equity sector strategy may include foreign stocks (i.e., companies whose headquarters or principal place of business is not located in the U.S.). &X Growib and Income investment Objective /f your investment olgecthno is growth and income and this Portfolio /a valued at a rninlinum of US S1,004004 please indicate your choice of U.8 domestic or global portfolio. 7 (Data 8heeq 'd • Primary objeetive is to seek to Gama total nate of return •' modestly greater than that provided by a Portfolio equally divided between U.S. stocks and bonds. Selection of growth and income investment objective Implies a desire to keep portfolio risk below that of common stocks but to pursue a return greater than that provided by bonds. It is expected that dividend and interest income will comprise a significant part of the total mum earned by the Portfolio. Dontestk Portfolio Primarily U.S. domestic securities; however the equity sector strategy may include foreign stocks ❑ Wobal Portfolio* (Minimum Portfolio size: US $1,000,000 required) Worldwide equity securities Including a significant portion of U.S. domestic stocks and bonds (U.S. domestic bonds generally will be used for the fixed income allocation in portfolios under US 55 million.) • (Please noteihet a minimum Portfolio of US $1,000,000 with moa propriate fee schedule is required for a global Ilr Port Sti11tlG'WU1W WeST :80 86, 9T 100 • • • A. b 'Fked booing) If your investment objeotlw la fixed Inane, please Ind your choice of U.S. domestic core, U.S. domestic limited meturlbs municipal bunch global, or Intemadonal Portfolios • • 9 (Data Sheet) S'd • Primary objective is to seek to earn a return modestly greater than that provided by the bond market to be largely derived from coupon interest and secondariy from capital appreciation. •Selection of fbted income objective indicates a desire fora fixed Income securities Portfolio comprised primarily of bonds; short- term money market Instruments may be used from time to time as wen it Is expected that the Portfolio will contain no common stocks, o N.8 Domesdo Con Rad Income Portfolio (Minimum Portfolio size: US $500,000 required) Primarily US domestic bonds. ❑ U.S. Domes* Limited Maturity PartfoRo (Minimum Portfolio elle: US $500,000 required) Primarily US domestic bonds. Shorter portfolio duration then US Domestic Core Fixed Income portfolios. Historically, average Limited Maturity portfolio durations have ranged from 2 to 5 years: historical data reflect historical market and other conditions and should not be viewed as any guarantee of Arturo investment strategies. • ❑ Municipal Bond AortPolfo (Minimum Portfolio size: US $2,500,000 required) If this option ie selected, please indicate State of legal residence for tax purposes: ❑ Global Pored Income Portfolio' (Minimum Portfolio size: US 51,000,000 required) Worldwide bonds inckrd'ng US domestic bonds, ❑international RedMoo Portfolio* (Minimum Portfolio size: US $1,000.000 required) Worldwide bonds excluding U8 domestic bonds. • TOTAL P.11 Shc1d4'Wtl1W We91:80 86, 9T 100 FUNCTION _ SELECT 56396346 KAI PRC CUSTOMER ACCOUNT ACCT: 563-96346 SS0: 710584406 (50 CITY OF FAYETTEVILLE FIRE POS/PGS: PENSION i RELIEF FUND UNPRC ATTN: ACCOUNTING DEPARTMENT 12/19 INT: BALANCED NM CAPITAL MCSB 113W MOUNTAIN 8T INTO PAY .70 PMS CSFs 110,680.99C _.• SMA' SETE SETD 10/15/98 .70C TCAL N UPDATE: N PRV YR: 97/96/95 4,647,115 3,987,777 SEC 0 CUSIP # DESCRIPTION Fi2556 C 912627T28 U.S. TREASURY NOTE 9'd 10:07 10/15/98 PG 1' ASSETS COB 10/14/98 1)442-7771 FC: 1014 36/ 04 ACCT TYPE: RCM 0 T-VAL 4,227,2 2 21,214.00 RAFND .00 . 00 STFND .00 . 00 C—MNY 251,840.00 0 C—OTH .00 . 00 BOORT .00 . 00 I/ANU .00 . 00 MFA .00 3,924,026 -QUANTITY — CURR PX -- VALUE 300,000 103.594 310,782 <MORE, ACTION StrIlUG'WU1W WC91:00 86. 9T 100 .PUNCOTION KAI PR , ACCT: 563 SEC $ x2 C ' 796 C H28H1 C S002R4 C 505071 C 507021 C 511537 C 512914 C 516821 C 517113 C 521720 C 530867 C S32376 C 'd SELECT 56396346 `CUSTOMER ACCOUNT ASSETS SS410 710584406 (501)442-7771 DESCRIPTION ---- -QUANTITY - U.S. TREASURY NOTE 300,000 U.S. TREASURY NOTE 500,000 D.S. TREASURY NOTE 500,000 ANTEC CORP 7,700 ARCHER DANIELS MIDLD 6,930 BURLINGTON INDS INC 1 8,700 BROWN GROUP INC 4,700 CALGON CARBON CORP 11,800 CHIQUITA BANDS INTL $ 6,900 CIRCUS CIRCUS ENTRPRS 6,000 COTT CORP QUI 12,300 FRUIT OP THE LOOM INC GIBSON GREETINGS INC 3,500 C -96346. CUSIP N 9128272W1 912827YE6 912827D2S 03664P105 039483102 121693105 115657148 129603106 170032106 172909103• 22163N106 359416104 374827103 PW 10007 10/15/98 PG 2 COB 10/14/98 PC: 1014 CURR PX -- VALUE -- 106,828 320,484 103,609 518,045 108.844 544,220 14.250 109,725 ' 16.375 113,478 8.000 69,600 14.812 69,616 6.500 76,700 9.937 68,565 8.000 48,000 5.312 65,337 3.500 51,300 9.625 33,687 <MORE) ACTION 3,800 1 SH11HRiWHIW WHiPT!Pq Rc . of inn Ih. I -17-1770 sg107 mg:KILL IOWA FUNCTION SELECT 56396346 KAI PRC ACCT: 563-96346 SEC A CUSIP $ 532549 377316104 535AC7 411352404 ( 36861 437614100 S38262 453258402' 538275 449223106 541273 481088102 S 45107 540424108 351019 615785102 £ 526W6 62886E108 $ 52765 66978F105 158299 1637F8 C 5 66011 C C C C C C C C C C C • 690368105 74960K876 781258108 8'd CUSTOMER ACCOUNT ASSETS SS#: .710584406 (501)442-7771 DESCRIPTION ••-• -QUANTITY GLATFELTER PH CO 5,700 1RANSON PLC SPN ADR NE 4,750 HOMESTASE MINING DEL 7,000 INCO LTD 6,200 IBP INC 4,500 JOSTENS INC 3,800 LOEWS CORP 900 MOORE CORP 8,300 NCR CORP NEW 3,400 NOVA CORP NEW 1,082 OVRSEAS SHIPHLD GRP 5,300 RJR NABISCO XLDGS CP 2,800 RUDDICK CORP 5,000 609 2.02 3504 P.85/13 . PW 10:07 10/15/98 PG 3' COB 10/14/98 FC: 1014 - CURR PX -- VAL 11.625 6 2 31.750 150,812 12.250 85,750 10.437 64,709 21.000 94,500 19.312 73,385 83.812 75,430 10.,125 84,037 30.500 103,700 11.937 12,903 17.000 90,100 25.937 72,623 16.250 81,250 <MORE> ACTION Slilitic'WelW L4 LT:80 86. 9T !DO • 2 • u..i-ar♦77o 4%•D7 MAXUS LTNUI FUNCTION ^ SELECT 56396346 • KAI . PRC 1 CUSTOMER ACCOUNT ASSETS ACCTa 563-96346 338: 710584406 (501)442-7771 $ # CUSIP 0 DESCRIPTION ---- —QUANTITY• - S G7 C 8615651094TOLT NIELSEN SA ADR ' 3,500 S 49 C 807066105•SCHOLASTIC CORP .0000 f 68185 C 817265101 SENSORMATIC ELECTRNS 7,700 5 734N8 C 899896104 TUPPERWARE CORPORATIO 2,900 S 736F8 C 878895200 TECUMSEH PRODS CO CL 1,500 575086 C 893526103 TRANSCANADA PIPELINE 5,408 576323 C 907818108 UNION PACIFIC CORP 2,000 580886 C 949702104 WELLMAN INC 5,100 97261 C 989996913 CMA MONEY FUND 251,840 • 6'd • 689 282 3584 P.86/11 PW 10:07 10/15/98 PG 4 COE 10/14/98 FCi 1014 CURR PX -- VALVE -- 10.375 36,312 39.125 3.937 30,314 14.750 42,775 49.000 73,500 14.562 78,751 43.937 87,874 11.812 60,241 1.000 251,840 4END> ACTION • Stl11tba'Wd1W W LT :80 86. 9T 100 NATIONAL CONFERENCE ON PUBLIC EMPLOYEE RETIREMENT SYSTEMS 1620 EYE STREET, N.W., SUITE 220 WASHINGTON, DC 20006-4005 (202)429-2230 FAX: (202) 223-8323 Fayetteville Fire Fighters Pension & Relief ATT: ATI'N:City Clerk 113 W Mountain Street, Fayetteville, AR 72701 OCT 2 6 4998 MEMBERSHIP ID FINANCE DEPT. (Write your ID Number on your check) Membership ID Date Member ID* 001396 10/17/98 111 DUES INVOICE IMPORTANT: Make all checks payable to NCPERS. Please return the YELLOW FORM along with your CHECK in the YELLOW ENVELOPE provided for you. Keep the WHITE COPY of this form and a COPY OF THE CHECK for your own records. Annual Dues: January 1, 1999 - December 31, 1999 $100.00 • 58TH ANNUAL CONFERENCE & EXHIBITION Atlanta, Georgia May9-14,1999 Be on the lookout for the registration material. Your membership must be current to register for the Conference. Please note: The 1999 Legislative Conference will be held January 25-27, in Washington, D.C. +- September 10, 1998 O Representing the Retirement Interests of Oyer 5 Million Public Workers O FEDERAL ALERT Urgent Word from Washington, DC Companion Bill to RAP Act Introduced in the Senate On July 17, Sens. Jeff Bingaman (D -NM), Bob Graham (D -FL), and Jim Jeffords (R -VT) introduced The Retirement Account Portability (RAP) Act (S. 2329). This Senate version of RAP, combines provisions for the House RAP Act (H.R. 3503), introduced by Reps. Earl Pomeroy (D -ND) and Jim Kolbe (R -AZ), as well as provisions from the Retirement Security for the 21" Century Act (H.R. 3788) introduced by Reps. Rob Portman (R -OH) and Ben Cardin (D -MD). This legislation currently has two cosponsors. Some of the primary provisions included in the bill are: • • Rollovers allowed among retirement plans — Individuals would be allowed to move their retirement savings between 457, 403(b) and 401(k) plans. • Rollovers are not mandatory — Employers would not be required to accept rollovers from other plans. A rollover would only occur when both the employer and employee agree to accept the transfer. • Waiver of deadlines — Currently, an employee who is changing jobs has 60 days to roll over any retirement savings. S. 2329 would waive this deadline in cases of natural disasters or military service. • Purchase of service credits — Public school teachers and other state and local employees in 403(b) and 457 plans, who move between states and localities, would be allowed to use their retirement savings to purchase service credits. • Lump sum cashouts — S. 2329 would not allow the use of a lump sum cashout from a defined benefit plan to be rolled over to a 403(b) or 457 plans. • Vesting schedule — Unlike the House version of RAP, the Senate version does not call for a reduction of the vesting period. The House version would like to reduce the current 5 -year period to only three - years. "While it does not make portability of pension benefits perfect, it greatly improves the status quo," said Sen. Jeffords, chairman of the Senate Committee on Labor and Human Resources. S. 2329 has the support of Earl Pomeroy, who stated, "given their position on the Senate Finance Committee, I amhopeful that Sens. Jeffords and Graham will be able to engage in the same effort on the Senate side." • For more information about this legislation, call the NCPERS office at 202-429-2230. NATIONAL CONRCnENCE ON PUBLIC EMPLOYEE RETIREMENT SYS iEM5 1620 EYE STREET, N.W. • SUITE 220 • WASHINGTON, D . 20006 • (202) 429-2230 ® 11 FIREMEN'S RELIEF AND PENSION FUND OCTOBER 1998 OTHE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH OF OCTOBER 1998. YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED. • DATE OF EMP# RETIREMENT 43 3/86 2 3/75 63 5/72 44 9/86 45 9/86 49 7/88 4 6/67 5 5/72 57 5/90 6 4/68 8 10/76 61 6/66 10 2/66 11 2/76 38 5/84 33 5/80 34 6/79 64 4/95 47 5/88 37 3/84 54 5/89 12 3/60 13 10/67 14 7/74 51 10/88 60 12/89 55 12/89 40 9/85 50 9/88 39 4/85 35 2/82 15 4/77 29 8/81 42 2/86 17 2/66 16 4/64 62 10/68 48 7/88 58 9/90 46 5/88 53 2/89 20 12/52 22 4/73 30 3/81 41 9/85 23 4/71 24 4/56 56 2/90 36 5/76 25 2/75 NAME BAIRD, RICHARD H. BLACKARD, PAUL BOLAIN, ANN BOUDREY, BETTY MRS. BOUDREY, HOWARD BOUDREY, JACK CARL, FLOYD JR CASELMAN, ARTHUR CATE, ROY CHRISTIE, ARNOLD COUNTS, WAYNE DAVIS, BEULAH F. DEARING, EMMA MRS. FARRAR, ALONZO FRALEY JOSEPH G. HARRIS, BILL C. HARRIS, JAMES E. JORDAN, CHARLIE JUDY, DARRELL KING, ARNOLD D KING, ARVIL LANE, HOPE MRS LAYER, MERUN LEE, HAROLD LEWIS,CHARLES LEWIS, MARVIE LEWIS, ROGER LOGUE, PAUL D. MASON, LARRY MC ARTHUR, RONALD A. MC CHRISTIAN, DWAYNE MC WHORTER, CHARLES MILLER, DONALD MOORE, JAMES H. MORRIS, WILKIE MRS. MORRIS, WILUAM H. MORRISON, EUENE MULLENS, DENNIS W. OSBURN, EDWARD OSBURN, TROY POAGE, LARRY POLLY, GRACE A. MRS. REED, JOE SCHADER, EARVEL SCHADER, TROY SKELTON, BURL L. SKELTON, LEE SKELTON, ROY SPRINGSTON, CARL STOUT, ORVILLE GROSS FED. TAX ST. TAX NET 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 55.00 417.50 55.00 1,088.98 570.91 570.92 50.00 1,902.69 200.00 1,078.16 78.16 1,159.11 100.00 55.00 30.00 886.19 80.00 863.01 125.00 55.00 55.00 70.00 80.00 1,448.31 1,646.01 160.00 1,255.55 65.81 1,556.57 210.00 55.00 55.00 923.01 1,007.92 57.00 692.50 42.50 390.00 1,626.02 210.00 609.88 50.00 590.36 50.00 1,091.06 55.00 55.00 1461.57 1,383.66 50.00 751.30 55.00 75.00 1,182.35 55.00 55.00 377.50 55.00 707.84 10.00 1,061.39 55.00 55.00 1,525.81 1,088.98 10.00 898.97 1,001.00 55.00 417.50 55.00 1,088.98 570.91 10.00 510.92 25.00 1,677 69 1,000.00 1,059.11 25.00 806.19 738.01 55.00 55.00 70.00 80.00 1,448.31 1,486.01 1,18974 60.00 1,286.57 55.00 55.00 923.01 950.92 650.00 390.00 63.40 1,352.62 9.88 550.00 540.36 pry 27 3/71 TUNE, MILDRED MRS. 26 3/66 TUNE, BILLIE SUE 28 7/68 WATTS, DONALD 59 5/91 WATTS, WAYNE 52 9/88 WRIGHT, RANDALL DROP EMPLOYEES JOHNSON, ROBERT MILLER, KENNETH WARFORD, THOMAS BONADUCE, MICHAEL DILL, GARY GAGE, TOMMY FREEDLE LARRY 80.00 80.00 400.00 1,191.51 1,128.98 96.17 150.00 80.00 80.00 400.00 1,095.34 978.98 37,713.20 21652.32 238.28 34,822.60 2,042.47 2,129.57 1,659.70 1,975.38 2,396.21 1,716.25 2,550.40 WE, THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE JUST AND CORRECT; THAT NO PART THEREOF HAS BEEN PREVIOUSLY PAID; THAT ----I-THE PENSION PAYMENTS SO CHARGED ARE IN ACCORDANCE WITH THE ACTIONS OF THE BOARD OF TRUSTEES OF THE FIREMEN'S REIJEF 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. SECRETARY CHAIRMAN AND PRESIDENT • ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON) )SS SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF , 1998. NOTARY PUBLIC MY COMMISSION EXPIRES: