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Home My WebLink About1999-05-27 Minutes• • MINUTES OF A MEETING OF THE FAYETTEVILLE FIRE PENSION AND RELIEF FUND MAY 27, 1999 A regular meeting of the Fayetteville Fire Pension and Relief Fund was held on May 27, 1999 in Room 326 of the City Administration Building located at 113 West Mountain Street, Fayetteville, Arkansas. PRESENT: Mayor Fred Hanna, Marion Doss, Ron Wood, John Dill, Pete Reagan, and City Clerk Heather Woodruff. ELECTION RESULTS AND APPOINTMENT OF NEW BOARD MEMBERS Mr. Reagan stated there had been an election for new Board members. There had been two people nominated to fill the two positions. John Dill would be the new representative for the retirees. Ron Wood was reelected as a representative for retirees. No vote was needed because both of the candidates had been unopposed. APPROVAL OF THE MINUTES Mr. Reagan moved to approve the minutes with typo corrections. Mr. Wood seconded the motion. Upon roll call the motion carried unanimously. APPROVAL OF THE PENSION LIST Ms. Woodruff noted there were two names which needed to be added to the list. The pension list would need to be amended to include Ronnie Wood at $2,033.79 per month and Eddie Bachman at $1,736.25 per month. Mr. Reagan moved to approve the pension list with the mentioned revisions. Mr. Dill seconded the motion. Upon roll call the motion carried unanimously. OLD BUSINESS PAYMENT OF DROP ACCOUNTS Mr. Reagan stated there was nothing new that had not been brought up at the last meeting. He thought they needed to make a decision on how they were going to proceed with the payment of drop accounts. Mr. Bonaduce was waiting for a decision. • Mayor Hanna stated he had spoken with the City Attorney on the matter. It had been Mr. Rose's opinion that there was no reason why they could not roll the money over. 1d) moimPine2 Dv" • Mr. Doss stated he had talked with Pension Review Board and Irene a Nter 11 L-Brich. Little Rock was paying the retirees out. PRB also rolled them into other accounts without withholding taxes. /F fey Jb '&rnn0 As7 ail flew i»xes /pc notioRgo 7D 224 NEW BUSINE °'� SSPClehltdcc s)"nrt 7ftey Pa idol 04-2/#°41? 4741165• • Mr. Yada reviewed the investment report. He explained that every time the interest rates went up the value of their bonds would come down, even though they continued to receive the interest. Meeting adjourned at 11:15 a.m.