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HomeMy WebLinkAbout2003-10-30 - Agendas - FinalFiremen's Pension And Relief Fund Meeting Agenda October 30, 2003 A Special meeting of the Fayetteville Firemen's Pension and Relief Fund will be held at 11:00 a.m. on October 30, 2003, 2003 in Room 326 of the City Administration Building. 1. Approval of the Minutes: • October 3, 2003 2. Approval of the Pension List: • November, 2003 Pension List Approval 3. Investment Report: • Longer Investments 4. Old Business: • Martin & Kieklak will not be attending this meeting. - • Copy of the letter to Martin & Kieklak regarding the Ashland Management invoice. 5. New Business: • Attorney General Opinion concerning Act 674 of 2003. • Budget Performance Reports • Beulah F. Davis death certificate. • Insurance Premium Funds Third Quarter check in the amount of $16,634.28 • Insurance Premium Funds Fourth Quarter check in the amount of $14,444.13. • The Monitor • • • Firemen's Pension and Relief Fund Meeting Minutes October 3, 2003 A meeting of the Fayetteville Firemen's Pension and Relief Fund was held at 11:00 a.m. on October 3, 2003 in Room 326 of the City Administration Building. Present: Danny Farrar, Pete Reagan, Robert Johnson, Marion Doss, Sondra Smith, Secretary, Steve Davis, Marsha Farthing, Elaine Longer, Kim Cooper. Absent: Mayor Coody and Ronnie Wood Approval of the Minutes: Pete Regan moved to approve the August 28, 2003 meeting minutes. Danny Farrar seconded. Motion passed unanimously. Approval of the Pension List: Pete Regan moved to approve the pension list for October with the removal of Beulah F. Davis who has deceased. Danny Farrar seconded. Upon roll call the motion passed unanimously. Investment Report: Elaine Longer: The plan is about 42% Stock, you are about 4'A% in Real Estate Investments, Preferred Debt Securities are yielding 6.2%, Fixed Income Mutual Funds are yielding 6.2% and then your Corporate Bonds they are yielding 6.7%. We still don't have a bid on Enron bonds; hopefully we will see a bid pop up there. Treasuries are yielding about 4.4%, your Federal Home Loan Bonds and Government Agencies are about 15.6% of portfolio and GNMA is about 5.5%. The total portfolio is approximately $10,000,000; the income yield on the total portfolio is 3.4%. Ms. Longer continued to review the investment report. Pete Regan: Sondra can you get Elaine a copy of the Osborn, Carreiro & Associates, Inc. actuarial report. Sondra gave Elaine Longer a copy of the report. Elaine Longer: There has been a lot of mention in the minutes about the class action lawsuits, we have filed every lawsuit, we have a cross check and balance system with Northern Trust, they notify us and we notify, them when we receive notice of a class action lawsuit. We have filed the lawsuits and there have been approximately 13 settlements, the total amount received on those settlements is about $2,800 and this • • was over a seven year time period. I have read the minutes where the attorneys are talking about big pots of money waiting to be claimed in these suits and we just don't see that. Pete Regan: I explained in a phone conversation to Elaine that we signed a contract with Darrin Williams of Cauley, Geller, Bowman & Rudman this firm is actually working with the law firm of Martin & Kieklak that is representing us in the litigation with Merrill Lynch. They are the ones that are doing the background checking. When we signed the agreement with them it was for past and present. It's nothing against Northern Trust or Longer Investments. Elaine Longer: I was just concerned about them going forward and if they were to get a third of what you are going to recover. Pete Regan: They do it only if Northern Trust doesn't do it, Northern Trust is the primary. Old Business: LOPFI Plan: Steve Davis gave an update on the LOPFI plan. This is on the City Council Agenda for this next week. The recommendation to the City Council will be to postpone the merger until some date in the future. The request from the staff will be to indefinitely table the merger. Skelton College Enrollment: Copies of the.current college enrollment for Kelly D. Skelton and Kimberly Skelton have been received by the City Clerk's office. Gust Requirements: Steve Davis: We did some research on the GUST requirement and it's not applicable to this pension plan. Martin & Kieklak Letter: The City Clerk's office received a letter from the law firm of Martin & Kieklak stating they would not be at the October 3, 2003 Fireman's Pension meeting. They said as soon as they receive a final report and the arbitration papers they will call and set up a meeting to give their final report to the board. New Business: Arkansas Municipal League Ballot: A Ballot form the Arkansas Municipal League regarding the Arkansas Local Government Cash Management Trust was received in the City Clerk's office. The Fireman's Pension Board has no money in the plan; therefore they did not vote or return the ballot. • APRB Information: The Arkansas Fire & Police Pension Review Board sent a brief summary of five acts from the 2003 Legislative Session. A letter was received from The Arkansas Fire & Police Pension Review Board on the Future Supplement Fund Distribution and the amount of the distribution. Pete Regan: Is this amount per year? Sondra Smith: The letter states it is a single one time payment in the amount of $218.40 for a paid fire retiree and $43.68 per year for a volunteer fire retiree. A copy of the Arkansas Fire & Police Pension Review Board letter will be sent with the checks and we will highlight the statement single one time payment so they will not expect this amount on any checks in the future. Pete Regan: Did we get our State Insurance turn back check. Marsha Farthing: Your check was $412;688.18. Pete Regan: If you are not happy about they way they handled the payment, I would advise you to contact the LOPFI chairman. Sondra Smith: I have a bill from Ashland Management showing the investment advisory fees have not been paid by Merrill Lynch to Ashland Management. Pete Regan: Sondra will you send a copy to City Attorney Kit Williams and to our attomeys Martin & Kieklak. Marion Doss: Pete do you know anything about working after DROP? Pete Regan: I have asked Mr. Davis to cost that with the actuary, also the 10 year DROP is being costed and they have not gotten back to us yet. Marion Doss: There are a couple of people that are interested. Steve Davis: I think there are provisions where the City Council would have to approve it also. Meeting adjourned 11:45 AM. FIREMEN'S RELIEF AND PENSION November 2003 411 OLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE H OF NOVEMBER 2003. YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE ES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED. DATE OF REGULAR FUTURE Year To Date EMP# RETIREMEN1 NAME MO BENEFITSUPPLEMEN1 REG BENEFIT FED. TAX ST. TAX NET 79 11/99 ARMSTRONG (DILL), PAMELA 1,658.91 218.40 14,930.19 300.00 100.00 1,477.31 74 3/86 BAIRD, JULIA 1,649.16 218.40 14,842.44 350.00 145.00 1,372.56 2 3/75 BLACKARD, PAUL ' 100.00 43.68 585.00 143.68 63 5/72 BOLAIN, ANN 100.00 43.68 585.00 143.68 68 7/99 BONADUCE, MICHAEL 2,735.14 218.40 24,616.26 475.36 2,478.16 44 9/86 BOUDREY, BETTY MRS. 2,267.18 218.40 20,404.62 300.00 50.00 2,135.58 45 9/86 BOUDREY, HOWARD 1,911.99 218.40 17,207.91 2,130.39 49 7/88 BOUDREY, JACK 1,507 82 218.40 13,570.38287.68 50.00 1,388.54 4 6/67 CARL, FLOYD JR 100.00 43.68 585.00 143.68 5 5/72 CASELMAN, ARTHUR 120.00 43.68 765.00 163.68 57 5/90 CATE, ROY 1,637.10 218.40 14,733.90 1,855.50 6 4/68 CHRISTIE, ARNOLD 100.00 43.68 • 585.00 143.68 84 03/01 CIRCT CLRK WA CO 0.00' 0.00 85 03/01 CIRCT CLRK WA CO 0.00 0.00 8 10/76 COUNTS, WAYNE . 100.00 43.68 585.00 143.68 61 6/66 DAVIS, BEULAH F. (DECEASED) 3,397.50 0.00 78 11/99 DILL,GARY JOHN 1,658.92 218.40 14,930.28 100.00 1,777.32 11 2/76 FARRAR,ALONZO 914.10 218.40 8,226.90 75.00 1,057.50 38 5/84 FRALEY, JOSEPH G. 1,618.08 218.40 14,562.72 200.00 15.00 1,621.48 170 5/03 FREEDLE, LARRY 3,492.86 218.40 17,464.30 500.00 100.00 3,111.26 92 03/02 GAGE,TOMMY 2,376.34 218.40 21,387.06 . 226.00 50.00 2,318.74 34 6/79 HARRIS, JAMES E. 100.00 43.68 585.00 143.68 70 11/99 HARRIS, MARY RUTH 100.00 43.68 585.00 . 143.68 93 06/02 JENKINS, JOHN 3,273.93 218.40 29,465.37 700.00 200.00 2,592.33 .86 07/01 JOHNSON,ROBERT 2,812.66. 218.40 25,313.94 500.00 100.00 2,431.06 64 4/95 JORDAN, CHARLIE 2,081.90 _ 218.40 18,737.10 2,300.30 76 5/88 JUDY, JAN 1,507 82 218.40 13,570.38 200.00 50.00 1,476.22 37 3/84 KING, ARNOLD D. 1,393.18 218.40 12,538.62 240.00 100.00 1,271.58 54 5/89 KING, ARVIL . 1,566.00 218.40 14,094.00 130.00 1,654.40 12 3/60 LANE, HOPE MRS 100.00 43.68 585.00 143.68 13 10/67 LAYER, MERLIN . 417.50 218.40 3,757.50 635.90 14 7/74 LEE, HAROLD 100.00 43.68 585.00 143.68 51 10/88 LEWIS, CHARLES 1 507 82 218.40 13,570.38 75.00 25.00 1,626.22 55 12/89 LEWIS, ROGER (DECEASED) 0.00 . 0.00 40 9/85 LOGUE, PAUL D. . 2,624.88 218.40 23,623.92 325.00 75.00 2,443.28 50 9/88 MASON, LARRY 1,492.83 218.40 13,435.47 78.16 1,633.07 39 4/85 MC ARTHUR, RONALD A. 1,604.92 218.40 14,444.28 150.00 50.00 1,623.32 35 2/82 MC CHRISTIAN, DWAYNE . 100:00 43.68 585.00 143.68 15 4/77 MC WHORTER, CHARLES 1,221.26 218.40 10,991.34 150.00 1,289.66 29 8/81 MILLER, DONALD 1,193.41 218.40 10,740.69 125.00 25.00 1 261 81 73 2/00 MILLER,KENNETH 2,910.17 218.40 26,191.53 325.00 75.00 2,728.57 42 2/86 MOORE, JAMES H. 100.00 43.68 585.00 143.68 17 2/66 MORRIS, WILKIE MRS. (DECEASED) 55.00 0.00 16 4/64 MORRIS, WILLIAM H. 115.00 43.68 720.00 158.68 62 10/68 MORRISON, ELIENE 125.00 43.68 810.00 . 168.68 •48 7/88 MULLENS, DENNIS W. 2,005.35 218.40. . 18,048.15 2,223.75 58 9/90 OSBURN, EDWARD (DECEASED) 17,986.64 0.00 46 5/88 OSBURN, TROY . 1,738.46 218.40 15,646.14 200.00 38.00 1,718.86 81 02/01 PHILLIPS,LARRY 2,530.45 218.40 22,774.05 2,748.85 53 2/89 POAGE, LARRY 2,147.56 218.40 19,328.04 . 300.00 100.00 1,965.96 22 4/73 REED, JOE 100.00 43.68 585.00 143.68 30 3/81 SCHADER, EARVEL 1,268.40 218.40 11,415.60 1,486.80 41 9/85 SCHADER, TRbY 1,395.56 218.40 12,560.22 57.00 1,556.98 82 03/01 SKELTON,KELLY 1,114.17 109.20 10,027.53 125.00 25.00 1,073.37 83 03/01 SKELTON, KIMBERLY 1,114.17 109.20 10,027.53 125.00 25.00 . 1,073.37 .23 4/71 SKELTON, LAWRENCE BURL (DECEASED) 3,482.00 . 0.00 66 8/98 SKELTON, PAULINE 390.00 218.40 3,510.00 608.40 36 5/76 SPRINGSTON, CARL 737.78 218.40 6,640.02 70.00 17.00 869.18 90 03/02 STOUT, IMOGENE W. 702.65 218.40 6,323.85 921.05 25 2/75 STOUT, ORVILLE (DECEASED) . 0.00 165 12/02 TATE, RALPH 3,356.83 218.40 30,211.47 300.00 100.00 3,175.23 26 3/66 TUNE, BILLIE SUE' 125.00 43.68 610.00 168.68 27 3/71 TUNE, MILDRED MRS. 125.00 43.66 ' 810.00 168.68 71 1/00 WARFORD,THOMAS 2,290.35 218.40 20,613.15 300.00 2,208.75 DATE OF EMP# RETIREMENT NAME • 28 7/68 WATTS, DONALD 59 5/91 WATTS, WAYNE (DECEASED) 88 01/02 WOOD,RONNIE D 52 9/88 WRIGHT, RANDALL DROP DATE 02/01/99 05/01/99 04/01/00 07/01/00 01/01/01 03/01/03 03/01/03 03/01/03 04/01/03 DROP EMPLOYEES LEDBETTER, DENNIS BACHMAN, EDDIE NAPIER,LONNIE REAGAN,PETE DOSS,MARION MAHAN, MARSHALL PIERCE, JOEY SHACKLEFORD, GLEN O'NEAL TEDDY REGULAR FUTURE MO BENEFITSUPPLEMEN1 400.00 2,816.02 1,547.82 76,401.47 218.40 218.40 218.40 9,696.96 Year To Date REG BENEFIT FED. TAX ST. TAX 3,600.00 25,344.18 13,930.38 693,207.93 800.00 200.00 8,289.22 200.00 25.00 1,740.00 NET 618.40 0.00 2,034.42 1,541.22 76,069.21 NEW BENEFITS 3,455.40 2,396.34 3,219.73 3,235.68 4,920.63 3,731.29 3,337.69 3,337.69 3,771.29 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 • ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON) SWORN TO AND SUBSCRIBED BEFORE ME THIS CHAIRMAN AND PRESIDENT DAY OF 2003. NOTARY PUBLIC MY COMMISSION EXPIRES • • • 6810-98165335.00 YTD 693,207 93 October 22, 2003 Mark L. Martin Martm & Kieklak Attorneys at Law P.O. Box 3597 Fayetteville, AR 72702 RE: Ashland Management Notice Dear Mr. Martin: I have enclosed a copy of a final bill that we received from Ashland Management 1 Incorporated regarding payment for an investment advisory fee. The invoice is addressed to Mr. Richard Yada, assistant Vice President of Merrill Lynch. Please let me know how the Fayetteville Fireman's Pension and Relief Fund Board of Trustees needs to proceed regarding this bill. Sincerely, Sondra Smith Secretary Fayetteville Fireman's Pension and Relief Fund Board • VID J. WHITAKER ssistant City Attorney Judy Housley Office Manager Phone (479) 575-8313 .FAX (479) 575-8315 . KIT WILLIAMS FAYETTEVILLE CITY ATTORNEY October 20, 2003 Fire Pension and Relief Board of Trustees Police Pension and Relief Board of Trustees THE CRY OF FAYETTEVILLE, ARKANSAS 113 W. Mountain, Suite 302 Fayetteville, AR 72701-6083 RE- Attorney General Opinion concerning Act 674 of 2003 concerning surviving spouse's benefits Dear Board of Trustee Members: As requested, I sought and have now obtained an Attorney General's Opinion on Act 674. The. Attomey General interpreted it as we thought it should be interpreted, that granting surviving spouses more than 50% of a member's benefits must specifically be approved .through the .processes identified_ in A C A §24-11-.102 Thus, despite the title of the act to "clarify the authority", the `act; did not clarify existing authority but grantednew and additional authority: . The Attorney General opined that surviving spouses are not entitled to a retroactive increase to the benefits .equal to what the member would have been entitled to receive.- Therefore, we do not need to change our current procedure and payment list. Attached is the Attorney General's Opimon (No. 2003-276). With knidest regards, Kit Williams Fayetteville City Attorney KW/jh Attachment The Honorable Jan A Judy State Representative Opinion No. 2003-276 Page 2 Before discussing the basis for this conclusion, I will set forth the language of Act 674. It states in full: SECTION 1. Arkansas Code § 24-11-425(0, concerning pension benefits in the event of the death of an active or retired member of a police pension and relief fund, is amended to read as follows: (0(1) The sum total of the pension to be paid the surviving spouse or the qualifying child of the deceased police officer shall not exceed one-half (1/2) of the salary attached to the rank the police officer held at the time of his or her death (2) However, the limit on the sum total amount under subdivision (D(1) of this section may be exceeded through benefit increases authorized under § 24-11-102. SECTION 2. Arkansas Code § 24-11-820(b)(3), concerning pension benefits in the event of the death of an active or retired member of a firemen's pension and relief fund, is amended to read as follows: (3)(A) The sum total of the .pension to be paid the spouse or 'the qualifying children of volunteer or part -paid fire fighters shall not exceed one-half (1/2) of the salary attached to the rank the member held at the time of his or herdeath as an active memberof a volunteer of part -paid fire department,' nor shall it be less than thirty dollars ($30.00) per month. (B) However, the limit on. he sum total amountunder subdivision (b)(3)(A) of this section may be exceeded through benefit increases authorized under § 24-11-102. Acts 2003; No. 674 (emphasis added). The amending language of Act 674 refers to A.C:A..§ 24-11 102, which states in pertinent parts . (a) The board of trustees of a municipal firemen's relief and pension fund and the board oftrustees of a policemen's pension and relief fund are authorized to increase benefits for future or current retired • The Honorable Jan A. Judy State Representative Opinion No. 2003-276 Page.4 title is inappropriate. Quinney v. Pittman, 320 Ark. 177, 895 S.W.2d 538 (1995). In my. opinion, the text of Act 674 is unambiguous. Indeed, any ambiguity that might be raised concerning the retroactive application of the act arises out of the title itself. It is therefore. particularly inappropriate to look to the title of Act 674 in interpreting the act. Second, even if the title is consulted in interpreting Act 674, it need not be interpreted to indicate retroactivity. Indeed, the title could easily be read to indicate simply that the act is intended to make clear that whereas there may have .been .some question in the past as to whether police and fire pension fund boards could increase surviving spouses' benefits, those boards will, as of the effective date of the act, unquestionably have the authonty to increase such benefits. Nothing aboutthe word "clarify" necessitates a retroactive interpretation. For these reasons, any argument for retroactivity that relies upon the use of the word "clarify" in the title of Act 674 must fail. I acknowledge that the court has madean exception to the presumption against retroactivity. in some limited circumstances in which the legislation in question has been deemed to be procedural or remedial, rather than substantive. The exception applies. only . to legislation that does not disturb vested rights or create new. obligations, but that instead only supplies a n�w. or .more appropriate remedy to enforce an existing nght or obligation. AKA v. Jefferson Hospital Assoc., 344 Ark. 627, 42 S.W3d 508.(2001).. In my opimon; this exception cannot apply to Act 674.of 2003. Act 674 is substantive, rather than procedural, because by permitting an increase in benefits, the Act clearly creates new payment obligations for the pension fund. The exception to the presumption against retroactive application is therefore inappropriate with regard to Act 674. Act 674 must. be interpreted to operate prospectively only. Question 2 — If the current pensioners are receiving more than fifty percent of the ending salary, are thecurrent surviving spouses limited to what they had been receiving prior to Act 674 until the pension board acts under A.GA..4 24- ' 11-102 to specifically raise the surviving spouses' benefits? It is my opinion that regardless of the amount current surviving spouses of police and fire pension fund members are receiving at present, the amount they receive can only be increased by specific action of the board pursuant to A.C.A. § 24-11- 102. The provisions of A.C.A. § 24-11-102 appear to be the only source of authority upon which an increase in benefits paid to beneficiaries can be based. tO PO PO 1•3N NtO ji21 ,„4. RI 1 pYg, } ✓ Y .' '� L � ��"• ;, �.... �. T �' ad • .. k 8 5 I 1 ( � { 'ti ,.....,„ N- 1 f:i a '•it._$` Ie WpR� Ir•�pppOeI�2©�y��yy 1 -+gyp - pnq�(��J��p�p[��yq} igitIONIN 4Ico��r �:- S'S,pJf.D'.[a3,b GGi�pp OOLYGOO�a S ... �b NAL TYPE TYPE SOURCE DESCRIPTION yt ACJa.ISga6fa iO3a rtn . tii F ;WW WWfY W tMtnm t`>it<"i* tm xim; mm m r t4I hr 55 %, Aww -044 moim � A • �i=lj`�,,J,)," �✓`rk! ro�!`�3r°9e�`�+3' yOD I �yyyr -. k �1`�1�1i��l�le`9 $1�7�1�iF�l�Fit`i��4 At3 :sS k:R� MPt�1 I • "�hp..ppXOD WW wW _W W . L�ifiawa I xm� �3�9g6 �gi S 7S 3' ' . 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Attorneys at Law P.O. Box 999, 21I S. Main Lincoln, Arkansas 72744 (479) 824-3305 or (479) 267-2841 FAX (479)267-4290 • Boyce R. Davis, Attorney • Steven S. Zega, Attorney • Sandra Smith, Clerk Fayetteville City Clerk 125 W. Mountain St. Fayetteville, Arkansas 72701 October 6, 2003 Re: retired fireman's pension benefit paid to Beulah F. Davis Dear Ms. Smith: Preserve theJurySystem - • Barbara j. Lane, Paralegal RECEIVED OCT 0 8 2003 CITY OF r., Y CTTEVILLE CITY CLERK'S OFFICE My mother, Beulah F. Davis, died September 29, 29003. Since the death of my father, Oliver Ray Davis, she has been drawing a monthly check as the surviving spouse of a retired fireman. I am enclosing a death certificate as evidence of the fact of her death. I am confident she is entitled to no further monthly benefits. I do not believe there is a death benefit associated with her monthly survivor's benefit. If I am mistaken in that belief, please advise. If questions arise from any statement that you have read in this letter, feel free to call for whatever explanation you require. Thank you for handling this matter. Be Regards, Boyce R P avis Beulah' son a STATE OF ARKANSAS ARKANSAS DEPARTMENT OF HEALTH:.' -- Division ul Vital Records CERTIFICATE OF DEATH' Davis %: UNDER I DAY 524T28Y3415 8. WAS DECEDENT EVER M U.S. AIMED FORCES? i w1F (F &A HflM , o.7: Se • tether 29 2003 BETNCIACE /Gy ad She or /pe' fl' Lpi1Y1. Creeniieid,'.:Iniiana' •••:96' FACILITY NAME it no mitenosi me .. .Aim . f 32 Pittman Mn Armes stows IN .k ye ...n. roll G. _Aad Spam.) Widow 'L n(5'JENC(+'STAYS 'Ix'CYNMTY Washington Parmin ton Na h "ton 1? DECE DEW S44MI OCC VM1O. •2e a»C69L$SI :LSSYOVSIR'." 'Gat and r e en, leo we .ig . w ea for at now - _ .... Teacher IN SIREEI AND rusk R 32 Pit tun . 15. RACE — Mnerkan Indian. , 16. OECEDENI S EDUCATION ISpec;h and MP.ysl made [unryeteJl .. (Gra Y l.w*w,tws INrl LPM9s 14a5 Mite . . . .... A 13e, INSIDE CITY Yes s31 21 CODE 14 'WAS DECEDENT OF HISPMC DRrRN' . ISDeuelr No et Yes— Y yea 'fl oyCu sn. . amnia Men Rye ee I Na - Tn ueen 17, FATHERS NAME eat Mgae, hog Oliver Serb Tucker Ip mronMf»IS NAMEVPFePOMl. .Eoyce Davis 2(ta YlliCa a P'SM& NOM r at". ' r Chum, ,.1.•-•-a.. hoe ERS NAME Crest. MMdle, Maden Suname) Ethel Sys, le .19e MAKING ADDRESS (Sees led AurisRina Aare Harnett. Coy N ke../1 P.O. Box 999 Lincoln, Arkansas 72744 .,.ZDI DATE Q. DISPOSn10N pimp. Dm. Year) . 2Oc. PLACE OF DISPOSITION Mame d cemetery. Ommloy.a ere Hem a Mt. Cslort"Carter' -.: Fayetteville,. Arkansas ` `2 la- „ TORE OF E' rt' ER ' " 2 I LICENSE NUMBER 2h NAME AILD ADDRESS Or FUNERAL NOME -.. 226 LICENSE NUMNE9 , .•> . ,:a. .. Llginbuel Funeral Rose, Inc. " ' 2 ▪ 7 - _ F / - " P.O. Boa 193 Prairie .Crave, Arkansas 72753 -- - 139 23. Ma11::U' M ea.... eases. >aNFcamrc nulcsxd ex deal. Do rn eller me root d eyalyau, as =hide IT1 .piitDry .. en. YaY . head nut . OM airy on cause on each Me. erimwireate HelmsBetween Between Ousel me Drat . •.Stv.•'M ka Oi_are and nedl ..eC4 ae Enr SW 1.1438 et a NG CAUSE (Disease w Mtn ....ON a earn,. ea.ap nwawl Vbt PARI it 011e SgMum mdibru ccr :Hymn b deal NA M resulting In IM Vedas 24. WAS N1 AUTOPSY PERFORMED'. /TM r tees 25. WERE AUTOPSY FINDINGS AVM.A91E1, TO CCNRETIOMOF CAUSE • ;.{OF UfA1N4Oil WATS pesc9AK pace' INJURY OCCURRED w. )7. RACE-Or'avNRY,—N Marle.IbrM1 Maltilandr2; ia19 Y. LOCATION ISLm Car .N). 1166ii FlOo Nm4r. Vey- T'. v. Sand ailrµ ek. l5pe[i/) • S IS ?MEotain^ 34 1E lEPnaNOVNCEODg.O aknes DKr. lob) "-- am3. . ac LFIiG4 t.njitR dile .a eeMNaon an v WeUgSte b'an wan me oar r CO CO1497104& .. .dad erapce end an ee causes ✓a manna as Mead ... . L CERT* t.O 11-.fSC4N' RLO.PEREONS Nsf l . CASE RFFERREC TO MEDKJR -.M 'INERCOR0 a No/ ' ../A1L .00 ^ JE -(t' U_ y ^`:_._. ..., .�_ • :... UM FILED Worn. Dar Yea) '-c 0 EFitr star N&ABOVE.ISA 1RUE:AN000RRECT CQP,YOF r' I , SharSin M,telrlhacn,; • • ;y. State Registrar /2� i l .' 'Z(€ ROC'_P ELS- "' /�' A REPRODUCTION OF THIS DOCUMENT RENDERS IT VOID AND INVAtiq DO NOT ADCEPI IJi :E .'.' • II g..a—' WARNING- ER{BOSSE"D SEAL OF THE ARKANSAS" DEPARTMENT OF HEALTH IS PRESENT. iT IS ILLEOALTQ '21t • . - i .- : ALTER OR COUNTERFEIT THIS OOCUk1ENT.. . " 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. Sondra Smith, Treasurer City of Fayetteville, Washington County FROM: Office ofFire Services DATE:. October 3, 2003 . SUBJECT: Insurance Premium Funds — Third Quarter 2003 Act 833 of 1991 provided insurance premium funds to certified fire departments. Enclosed is the following check: $16,634:28 Fayetteville Fire Department W.e are pleased that you are participating in this program. and we ]mow this money will make Arkansas a safer place in which to live. • These finds'are:subject to audit andarelo be used 1n accordance with:Act 833 of 1991. Please sign this receipt, retain a copy for your files and return the. Original to this office. JACK DUBOSE INTERIM DIRECTOR RECEIVED OCT 0 6.2003 CITY OF FAYETTEVILLE CRY CLERK'S OFFICE Enclosure duo Office of Fire Services Arkansas Department of Emergency Management P. O. Box 758 Conway, AR 72033 ttethL Fire Department' -s Authorized Representative Date AN EQUAL OPPORTUNITY EMPLOYER . •1••• OSO CYp s c ? AHN ¢CCC mw Tn (a. c. a ta >.H 0 T N nmro N M onn Y O ) :L Grof0op4.Vtt ii a • ,7 w W i.i H LL e ..i 0 ▪ o e 1� = f n y N K � • N 10 M t CI 0 4 i W G u/1 a w N N J E .. Z °- a m N O e to C CO m 9 _e < < Net Amount Document Text t r 1 606W.645-7- 6060564;- 86L'CSYS- Mira - 8Z1'8160 1w314111304733V X!aO000 IBJ ar L r* • • Representative Nick Smith (R -MI) has introduced legislation that would mandate Social Security coverage of newly hired state and local government employees beginning in'2004: 1112,3055 was introduced as a'bill to ensue the solvency of the Social Securityrsystem, but contained the mandatory' coverage provision. • HR 3055 also provides for private retirement accounts within Social Security. It allows for these accounts on a.voluntary . basis, with a $900 million loan from. the federal budget. to .pay. for .the transition. costs. This !so-called loan would be repaid • once • the system is solvent.. The bill also providesfor slowing the increase in benefits for high- income workers...Currently, the ;Social Security system is solvent through 2042, at which time:benefits will either have to be reduced or.additional revenues found Rep. Smith', has ,introduced:. similar legislation in the past. This is the first mandatory coverage bill introduced in the current Congress. The bill currently has 5 cosponsors: Reps. Jeff Flake (R -AZ), Jim Kolbe ,(R -AZ), John Shadegg (R- AZ), Charles.Stenholm (D -TX) and Pat Toomey (R -PA). . . Given the fact the White House has indicated that they have little or no interest in Social Security reform until after the presidential election, it is unlikely this. bill : will receive considerationthis year or next. However, it is important that members of the House of Representatives hear from NCPERS members about this bill..• NCPERS strongly opposes HR 3055 We oppose the mandatory coverage Mandatory Coverage Introduced provisions and' the establishment of private retirement accounts for those covered by Social Security. - Let your Representative know you are `opposed by writing to your Representative •at: US House. of Representatives, Washington, DC 20515. Don't fotget to visit with them when they arc back home for the weekend or Congressional recesses. Mother perfect time to visit them is during - the NCPERS Legislative Conference, which will be held in Washington, DC on February 9-11,2004. Pension Bilis Approved The. Senate • Finance Committee has approved two pension bills of interest to NCPERS. Both were approved unanimously on a bipartisan basis and reported out of the committee on September 17. The first bill is designed to address the -Enron-related. pension issues that arose because of the''Enron bankruptcy.'` The bill contains several public sector provisions that ate supported and - were advocated • by • NCPERS, along with 'other public pension organizations. The "National Employees Savings and Trust Guarantee Act" (the .bill does not have a number as it is still being written) addtesses many of the issues related to the Enron scandal. However, there 'ate several items in the bill that apply to public sector pension funds. `.NCPERS worked very hard with the staff to ensure the following provisions were contained in the bill: - • Clarification of rules regaiding purchase of service credit, using funds from a 457 or 403(b) plan to purchase service credit in a governmental defined benefit plan. • After tax. contributions can be rolled over from one qualified retirement plan to another plan (either defined benefit or. defined contribution). • Providing "good faith" coverage for plans that comply with minimum distribution rules if the plan complies with the statutory requirements. • - Exemption . from the notice requirementsrequired as a result of post - Enron. • Changing the 10% early distribution penalty from a governmental defined benefit plan for public safety officers from age 55 to age 50 - effective upon enactment. No timetable has been 'established for floor consideration of this bill:. Given that the.Senate-has to complete all the appropriation bills, it is unlikely the bill will be considered by the Senate until that. occurs. Majority Leader Bill Fust (R-TN) has indicated that once the Senate passes theappiopriationbill's and. the supplemental appropriation for the Iraq war, he will send the Senate home until January. The target adjournrnent date is the end of October. The committee also approved. HR 743, "The'Social Security Program Protection Act of 2003." The bill contains issues affecting - public employees. Specifically, HR 743: • Eliminates the ability of an employee to work the last day of employment under Social Security and therefore NATIONAL CONFERENCE ON PUBLIC EMPLOYEE RETIREMENT SYSTEMS • become entitled to Social Security benefits whenall previous employment was non -covered employment -- employee would have to work last 5 years under Social Security. • Allows all states to have a divided retirement system -- offering both non - covered and Social Security covered employment to its employees -- currently only 21 states can offer such options. • Requires state and local governments to report on an individual's 1099R form whether pension benefits were covered by Social Security or non -covered employment -- thus giving the Social Security Administration a greater ability to enforce the two government pension offsets: the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). FIR 743 passed the House. of Representatives. on April 2, 2003 by a vote of 396-28. The Senate Finance Committee changed HR 743, therefore, there will either have to be a conference to resolve the differences in the bill or the House could take up the Senate bill and approve it. NCPERS believes there are some very dangerous provisions in- HR 743, especially allowing all states to offer divided retirement systems (currently only 21 states allow such divided systems) and requiring the state and local government to report whether pensions am Social Security covered on a I 099R form. Testimony has already been provided where an elderly widow, whose Social Security benefits, were not properly calculated by the Social Security Administration, owes over $21,000 to the federal govermnent! NCPERS also believes that the divided systems could open the gate for Social Security coverage asit allows employees to vote on whether. or not they want to be covered by Social Security. If 'a majority votes for coverage, all new hires must be covered by Social Security. This provision is strongly supported by proponents of private retirement accounts within Social Security, who want to make these accounts available to state and local government employees. NCPERS will be working with members of Congress and staff to correct features of HR 743 as it relates to public sector employees. Keep up-to-date on the status of all pension bills by logging onto the NCPERS website: www.NCPERS.org Medicare Prescription Drug Bill Stalled The conference to resolve the differences between the House -passed (HR I) and Senate -passed (S 1) prescription drug bill is stalled over several large issues. Unless these issues can be resolved, there will not be aMedicare prescription drug bill this .year. Since next year is an election year, the likelihood of a bill in 2004 is even more remote. While both houses of Congress passed a prescription drug bill, the differences between the two bills have stalled the conference. Both the House and Senate conferees agree that the cost of the final bill can be no more than $400 billion over ten years. However, many differences remain on how the program will be administered. .. In an atttaapt to get the members of the conference to complete their work, the House and Senate Republican leadership has given them a finish date of October 17. Conference members were told to finish their work by this date so the two houses could vote on the final agreement before they recess for the year. Setting an arbitrary completion date is one thing; achieving it is another.. Major issues still remain, such as: • whether the Medicare prescription. drug program will cover low income individuals currently covered by Medicaid; • whether private companies can compete with Medicare, • whether employers (and especially public sector employers) will receive a reimbursement or credit if their retiree health care plan continues to provide a drug benefit; and • whether to allow re -importation of drugs from other countries. Of course, these are not the only issues, but some of the most difficult ones. AARP is pushing an issue that could adversely affect public sector retirees. They aresupporting the EEOC position taken earlier in the Eric County, PA case that offering higher health care benefits to retirees before they are Medicare -eligible is age discrimination. The Senate bill provides that once an employee becomes Medicare -eligible; the employer can reduce their medical coverage. This is common practice as employers provide health benefits until a retiree reaches age 65, where upon Medicare becomes the primary payer and the employer- sponsored plan the secondary payer. Without this medical gap allowance, many retirees could not retire before .age 65 or employers would cancel retiree health care because of its cost The EEOC has proposed new regulations to exempt retiree health care benefits from the age discrimination law (ADEA). The regulations are currently under consideration. States Continue to Raise Taxes A recent study by the 'Rockefeller Foundation found that states are continuing to raise taxes to cope with their financial crisis. This resulted in state revenues also rising. State revenues rose 2.3 percent from 2002 to 2003. • • NCPERS, The Voice for Public Pensions October 2003 Without the tax increases, state revenues would have declined by almost 1 percent. The biggest decline in state revenues was personal income taxes, which declined by almost 3 percent. . According to the National Conference on . State Legislatures, if you factor in tax increases and inflation, state revenues declined by 1.8 percent. The biggest tax bites over the past year occurred in the New England states (up 113 percent), with the lowest in the Plains states (down 05. percent). Most tax increases were geared to corporations and so-called "sin" taxes, such as alcohol and tobacco. IRS Allows Over -the -Counter Drug Reimbursements The IRS has issued a new ruling that allows over-the-countermedicines and drugs to be reimbursed by employer- sponsored health. plans. The ruling was made in the context of Flexible Spending Plans. The ruling (2003-102) was issued on September 3. Under the ruling, the expenditures must be for "medicines and drugs" such as antacids, allergy . medications, cold medicines and pain relievers as well as other items that are "legally procured and generally accepted as falling within the category of medicine and drugs." Items that are merely beneficial, such as dietary supplements, toiletries, and cosmetics are not reimbursable as they are not considered "medicines and drugs" for the purpose of this ruling. NATIONAL CONFERENCE ON PUBLIC EMPLOYEE RETIREMENT SYSTEMS October 2003 • Washington Pat McElligott, NCPERS Secretary, was named as the vice chair of the Washington State Investment Board, which oversees $39 billion in public pension assets. Pat was reappointed by the Governor as a member of the investment board in 2001 for a 3 -year term. The Washington State Investment Board created a website that provides expanded information about the private equity investments of the fund. The site offers • links to monthly, quarterly and annual financial performance data, including the system's rate of return. The site can be viewed at www.sib.wa.gov/assets/privateequitvport folio.btm Arizona A committee of the Arizona State Retirement System has proposed that the fund cease to provide health insurance for retirees not eligible for Medicare. The committee made this recommendation because the number of retirees in the state is slipping, which is leading to increases in premium costs and scaring off potential health insurance providers. "We're trying to get out in front and address this issue before it becomes a crisis with no solution," stated Chuck Essig, committee Chairman. This change, however, would not take place immediately. First, the plan needs to be approved by the full board and most likely the state Legislature. The .committee suspects that if this change were to take place, it would not take effect until 2005... This decision, if approved, could affect more than 4,000 retirees. In other Arizona news, the Arizona State Retirement System was happy to report that they ended this fiscal year in the black. For the fust time in three years, the fund finished the year with a 2.4% return. "It's certainly good to move back into positive territory after two down years," said Chairman Karl Polen. "We are looking forward to continued recovery of our national economy and improvement in the capital markets." Hawaii The Hawaii Employees' Retirement System got back data on 97,000 members. The data were being held by Quovadx Inc, a computer company the state contracted to replace its antiquated computer system. According to the resolution, ERS does not have to pay the fees contracted in 1999. Instead, they will pay Quovadx Inc. a little over $1 million. However, they are still without a new computer system: Delaware The Delaware legislature 'recently approved a measure that would increase the pensions for retired state employees, judges, teachers, county and municipal police and firefighters. S.B.185 states that members retiring between January 1, 1976 and June 30, 2001 would receive increases amounting to the greater of 2% or $25 per month. Those retiring before January 1, 1976 would receive the greater of 2% or $35 per month. The governor is expected to sign the legislation. North Carolina Durham County North Carolina is the latest government entity offering same- sex domestic partner benefits. The County Commissioners voted 5 to 0 to offer health insurance benefits to the same-sex partners of employees. "This was the right thing to do," Commissioner Philip Cousin Jr. stated after the vote. "This is not a tactic endorsement of a lifestyle, but an endorsement of the right to quality of life." • Durham is the first county in the state to offer such benefits, joining the municipal .governments of Chapel Hill and Carrboio, NC. Virginia The Virginia Retirement System was among the many funds that saw positive returns this fiscal year. The State public pension fund ended the year with a 2.5% return. The $34.6 billion fund was up 9% for the calendar year and had a strong quarter with an 11% gain. The system provides benefits to approximately 109,000 retirees and 311,0001.4 -active members. Pennsylvania In an effort to reduce costs, the Mayor of Philadelphia recommended that the city end the early retirement program that was created on a temporary basis in 1999. The current Deferred Retirement Option Plan (DROP) allows an early retirement Lump sum payment to retirement age employees that leave the city employment within four years. Approximately 3,500 employees have taken advantage of the � 9fC-i l`t iptifitiktti 4Wit;i7";:Cv • STATE.continued) • NCPERS, The Voice for Public Pensions October 2003 i continued from STATE plan and 2,000 city employees remain eligible, which could potentially cost the city $715 million. If the pension board votes to discontinue the DROP program, the City Council could extend it or create a new program. Massachusetts The pension board in Massachusetts is considering using 2% of their $28 billion portfolio to invest in economically targeted business development and housing projects. The proposed investments would have to meet several requirements, including being within the context of a diversified portfolio, earning returns equal to or greater than similar investments and being run by investment managers with direct experience in the field. The state treasurer predicts that the investments would be in conservative, low-risk projects that could produce economic and social benefits for the state as well as for its public employees. Springfield Mayor Michael Albano is asking the city's retirement boardto sell its stock, held in US pharmaceutical companies, to send a message that these industries are making profits at the expense of American consumers. The city has proposed a drug purchase program, which entails purchasing drugs from Canada and saving the city between $4 million and $9 million. Those employees and retirees who purchase Canadian drugs have no copayment, which currently ranges • from $6 to $20 per prescription. If the pension board approves the sale of the stocks, it would represent about $6 million or 2.6% of the pension fund's holdings. Indiana The Indiana Public Employees' Retirement Fund filed federal charges against a former employee that allegedly lead an eight -person conspiracy to steal over $226,000 from the fund. Investigations have determined that after working for the fund, lames Spaulding moved on to an architectural firm and then to the Eli Lilly Federal Credit Union, purportedly stealing money and identities along the way. Spaulding has been jailed while he awaits trial. NCPERS, The Voice for Public Pensions October 2003