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Home My WebLink About2001-06-28 - Agendas - FinalFIRE PENSION AND RELIEF FUND BOARD AGENDA JUNE 28, 2001 A meeting of the Fire Pension and Relief Fund Board will be held on Thursday, June 28, 2001 at 11:00 a.m. in Room 326 of the City Administration Building located at 113 West Mountain Street, Fayetteville, Arkansas. 1. Approval of the Minutes 2. Approval of the Pension List 3. Investment Report 4. Benefit Increase 5. Other Business • MINUTES OF A MEETING OF THE FAYETTEVILLE FIRE PENSION AND RELIEF FUND BOARD MAY 31, 2001 A meeting of the Fayetteville Fire Pension and Relief Fund Board was held on May 31, 2001 at 11:00 a.m. in Room 326 of the City Administration Building located at 113 West Mountain Street, Fayetteville, Arkansas. PRESENT: Mayor Coody, Marion Doss, Pete Reagan, Robert Johnson, Danny Farrar, Ronnie Wood, City Clerk Heather Woodruff, City Attorney Kit Williams and John Maguire. MINUTES Mr. Reagan moved to approve the minutes. Mr. Doss seconded. Upon roll call the motion carried unanimously. PENSION LIST Ms. Woodruff stated the Skelton girls had been added to the pension list last month. Mr. Williams stated he had asked that the girls not be paid directly, but for the board to send the check to the courts and to let the judge decide where the money should go. Mr. Reagan moved for the Skelton girls' check to be sent to the court. Mr. Doss seconded the motion. Upon roll call the motion carried unanimously. ELECTION RESULTS Mr. Reagan introduced their new pension board member Robert Johnson, who had won the election. AMENDMENT 59 Ms. Woodruff stated she received an invoice for administrative cost. The total was $2,514.04. The Fire Pension's half was $1,257.02. Mr. Williams stated this was the second to the last payment. They still had to pay the second half of the taxpayer refund portion. They needed a motion to make payment to the County. That would pay for the administrative costs of mailing the checks and filling out the forms. It was a cost not to exceed $300,000 total. This was their share of that. Mr. Doss moved to pay Washington County $1,257.02. Mr. Farrar seconded the motion. Upon roll call the motion carried unanimously. INVESTMENT REPORT Mr. Reagan stated Mr. Yada was not able to make it today, but a copy of the investment report had been faxed to them. BENEFIT INCREASE Ms. Woodruff stated she had spoken with Ms. Hinshaw regarding their benefit increase. They should hear from her next week or the following week. They should know something by the end of the month. The meeting adjourned at 11:10 a.m. a • w b 0 b 0 -+ r 0 C] w A to N 0 W J LO O O O 0 0 0 00 0 0 0 y y W O 0 0 0 0 o o 0 0 • 0 0 O O O tlQ• (Tq OQ * 0 0 0 h 2 2 2 w 0 .- 0. In N J W W W G O y O 00 C7 ;3i �.icok 9 �i.�:; PR B ARKANSAS FIRE & POLICE PENSION REVIEW BOARD RECEIVED JUN 2 5 2001 CITM YCR'S'C FFICE LE June 22, 2001 Board of Trustees Fayetteville Fire Pension and Relief Fund c/o The Honorable Dan Coody City of Fayetteville 1132.-West=Mountain Fayetteville, AR 72701 VIA U.S. Mail &I,FAX: 1-501-575-8257 Dear Board of Trustees: P.O. DRAWER 34164 LITTLE ROCK, ARKANSAS 72203 TELEPHONE: (501) 682 - 1745 FAX: (501)682-1751 email: info@lopfi-prb.com website: www.lopfi-prb.com Effective January 5, 2001, the Board of Trustees of the Fayetteville Fire Pension and Relief Fund passed a resolution to increase the benefit of present and future retirees and surviving spouses to 90% of base salary, pursuant to a cash flow study, • L`have been asked by a member of the plan if this benefit can be paid retroactive-to•the date of the Board of Trustees resolution. Following a discussion today with the actuary who performed the cash flow study; I certify,that:the benefit'may be paid as of January 5, 2001. Please call with questions. Sincerely, Cathyrn E. Hinshaw Executive Director CC: Mr. Marion Doss VFAX: 1-501-575-0471 Mr. David B. Clark 'FRB Assistant Director • Mr.;Jbdy_Carreiro PRB actuary 06-25-01P03:17 RCVD FAYETTEVI LLE THE CITY OF FAYETTEVILLE, ARKANSAS • DEPARTMENTAL CORRESPONDENCE • To: Fire Pension and Relief Fund Board From: Heather Woodruff, City Clerk Date: June 26, 2001 Re: Benefit Increase Summary Background: On November 30, 2000, the Board voted unanimously to submit a request to the Pension Review Board for an actuarial study to be conducted on the fund for the purpose of a benefit increase. Unfortunately, the resolution which had been drafted was not adequate. A new resolution was prepared by the City Attorney's office. This resolution was adopted at the next meeting which was held on January 5, 2001. Certified copies of the resolution and minutes were sent to the Review Board on January 9, 2001. Ms. Hinshaw, Pension Review Board, was contacted monthly to monitor the progress of our request. She reported our study had been delayed because of the Legislature's meetings. On April 13, 2001, the City Clerk's office received an invoice in the amount of $1,975.00 from Arkansas Local Police and Fire Retirement System for the actuarial study. On May 2, 2001, payment for services and a letter were sent to Ms. Hinshaw asking her to expedite our request. On June 19, 2001, a fax was received from Ms. Hinshaw certifying a 90% of salary benefit could be granted. On June 22, 2001, a fax was received from Ms. Hinshaw certifying the benefit may be retroactive and paid as of January 5, 2001. Action Needed: Passage of a motion specifying. 1. The amount of the benefit increase. 2. Members of the Fund which will receive the increase. 3. The effective date of the benefit increase. • • • Boards and Commissions Apnl 16, 2001 FIREMEN'S PENSION AND RELIEF FUND BOARD OF TRUSTEES John Dill HCR 63 Box 17 Ozark, AR' 949 H)667 66 Fi term/Replaced Bill Morris 5/01/99 to 04/30/01 Pete Reagan 1015 Lake Sequoyah Drive Fayetteville, AR 72701 H)521-7542 W)718-7622 Sixth term/Replaced Darrell Judy 05/11/96 to 04/30/02 Ron Wood Rt. 5 Box 256 Fayetteville, AR 72701 H)442-5925 W)718-7619 Ce11)601-1580 Fourth term 07/27/95 to 04/30/01 Danny Farrar 2805 Brookshire Springdale, AR 72762 H)927-0336 W)575-8271 (mall) First Term/Replaced Pete Reagan 11/30/00 to 04/30/02 Rociorce- 43kylcein 18 Asst. Fire Chief Marion Doss 1125 Cato Springs Road Fayetteville, AR 72701 H)521-8898 W)575-8365 Replaced Mickey Jackson 05/31/91 to Indef. City Clerk Heather Woodruff P.O. Box 293 Fayetteville, AR 72702 H)444-7338 W)575-8323 Replaced Traci Smith 02/17/98 to Indef. Mayor Dan Coody • 1418 E. Rodgers Drive Fayetteville, AR 72701 H)443-6758 W)575-8330 Replaced Fred Hanna 01/01/01 to Indef. • • Boards and Commissions April 16, 2001 FIREMEN'S PENSION AND RELIEF FUND BOARD OF TRUSTEES DESCRIPTION: The Firemen's Board of Trustees was established pursuant to the provisions of Sub Chapter 8 of Arkansas State Code. The Board was created to provide for the disbursement of the Firemen's Relief and Pension Fund and shall designate its beneficiaries as directed in this act. The Board shall have the power to make all rules and regulations needful of its guidance to implement the provisions regarding Board composition. TERMS: Two-year terms, ending Apnl 30. MEMBERS: The Board shall be composed of the following: The chief executive, who shall serve as chairman of the board; The city or district clerk or recorder, who shall serve as secretary of the board; The fire chief, or if the fire chief is not a member of the fund, the highest ranking member of the fire department who is a member of the fund and who is willing to serve; Four active or retired members of the pension fund. APPOINTMENT: The Fire Department shall elect the active member or members by secret wntten ballot in May of each year, with members to be chosen in alternate years by a method to be determined by the Board. The number of active members or retired members to serve on the Board shall be determined by the proportionate number of active members to retired members; when the number of active members equals seventy-five percent of the total of retired members and active members, the Board shall be comprised of three active members and one retired member. When the number of active members equals fifty percent of the total of retired members and active members, the Board shall be comprised of two active member and two retired members. When the number of retired members equals seventy-five percent of the total of retired members and active members, the Board shall be comprised of one active member and three retired members. CONTACT: Heather Woodruff, City Clerk, 575-8323. PUBLIC NOTIFICATION: Meetings are published by the City Clerk on the weekly meetings list which is distributed to the media representatives with press boxes in the City Clerk's office and released via the Internet on the City's web site at: http://www.uark.edu/ALADDIN/cityinfo/cityweb. MEETING TIMES: Regular meetings are held the last Thursday of each month at 11:00 a.m. at the City Administration Building. 17 • • • • Merrill Lynch Investment Managers June 2001 City Of Fayetteville Fire Pension & Relief Fund Attn: Ms. Heather Woodruff 113 West Mountain Street Fayetteville, AR 72701-6069 • RE• Account Number 08659300 CITY OF FAYETTEVILLE FIRE PENSION & RELIEF FUND Dear Ms. Woodruff: RECFIVFr 'JIJL 0 2 ?nm CITY OFFgyc, `. CITYCLERK'a �rFiCG As an investment adviser, we are required to file Form ADV with the Securities and Exchange Commission which describes the operations and policies of Merrill Lynch Investment Managers. Please be advised that we have a pamphlet that is available to you, which is designed to convey in narrative form the information contained in relevant portions of Part II of Form ADV as filed with the Securities and Exchange Commission and includes a copy of our audited Balance Sheet. The above Disclosure Documents may be received by: • Writing to Edith Green at the above address (please use form, on reverse side of this letter); or • •-4E mailtoounCorrespondence_Denartment at MLIMPrivateInvestorsCorrespondence@exchange.ml.com (please include the above account number and any change to your mailing address). Private Investors 9 Roszel Road Princeton, New Jersey 08540 Mailing Address: P.O. Box 9074 • Princeton, NJ 08543-9074 013341 OVER Upon receipt of your request, our Disclosure Documents will be mailed to you promptly. MERRILL LYNCH INVESTMENT MANAGERS cc: Tony D. Boykin (TPG) Richard H. Yada (563) RE• Account Number 08659300 CITY OF FAYETTEVILLE FIRE PENSION & RELIEF FUND Yes Send me the Form ADV to the address inicatcd on this letter PERMANENT ADURESSS CHANES/CORRECTION Please change my permanent address as indicated below. Name Address City ADV/Rev. 05/01 State Zip Code • • • MIKE HUCKABEE GOVERNOR • TO: STATE OF ARKANSAS DEPARTMENT OF EMERGENCY MANAGEMENT P.O. BOX 758 CONWAY, ARKANSAS 72033-0758 (501) 730-9750 FAX (501) 730-9754 www.adem.state.ar.us Ms. Heather Woodruff, Treasurer City of Fayetteville, Washington County RECEI\/EDV.R. `BUD" HARPER DIRECTOR JUL 0 2 2001 CITY OF FAYETTEVILLE CRY CLERK'S OFFICE FROM: Office of Fire Services DATE: June 29, 2001 SUBJECT: Insurance Premium Funds — Second Quarter 2001 Act 833 of 1991 provided insurance premium funds to certified fire departments. Enclosed is the following check: $18,875.22 Fayetteville Fire Department We are pleased that you are participating in this program and we know this money will make Arkansas a safer place in which to live. These funds are subject to audit and are to be used in accordance with Act 833 of 1991. • Please sign this receipt, retain a copy for your files and return the original to this office. t. Enclosure Office of Fire Services Arkansas Department of Emergency Management P. O. Box 758 Conway, AR 72033 Fire Department's Authorized Representative AN EQUAL OPPORTUNITY EMPLOYER Date it - FUND MO. DAY YR. SFP 06 26 01 CM011I620 2DX104 IP°ub°LIW ACCOUNT NUMBER I DO NOT BEND, FOLD OR MUTILATE THIS WARRANT VOID AFTER JUNE 30, 2002 �luttitor of State of rknnsxs To the State Treasurer, Little Roc , Ark PAY TO THE ORDER OF: CITY OF FAYETTEVILLE, TREAS FAYETTEVILLE FIRE DEPT &'O6 16« 1:08 20076781: 01E-1591623 DOLLARS CENTS **18875 22 SUN HERETO S DUE SY THE STATE OF ARKANSAS 0 ED HEREIN AIDE THE IIITE TREASURER IS MEI AY SAID SM 0 THE ODER OF THE PAYEE OUT OF DM HEREIN SPECIFIED. R A 2ii5916230