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HomeMy WebLinkAbout2004-06-24 - Agendas - Final• Firemen's Pension and Relief Fund Meeting Agenda June 24, 2004 A meeting of the Fayetteville Firemen's Pension and Relief Fund will be held at 11:00 a.m. on June 24, 2004 in Room 326 of the City Administration Building. 1. Approval of the Minutes: • May 27, 2004 2. Approval of the Pension List: • July 2004 Pension List 3. Longer Investments: • Report 4. New Business: • • Budget Report for 04/30/04 • 0 m 2 .5 c LL w O .5 c W c O .0,- c m O . 0) A d LL m d t m 0 0 N • 1- 0 0 c 0 0 5 m v c 0 u v 0 0 c.e O to O co 5 CIE a c R 0 0 c t t m .0 m a 0 c c Sondra Smith 0 m N 5 m c O O 2 0 0 0 0 N T 0 0 0 O R Marion Doss Robert Johnson 16 co d 2 m o. Ronnie Wood Sondra Smith 1- c 0 0 2 c ffi0 0 2 0 c 0 0 m in Mayor Coody Marion Doss Danny Farrar Robert Johnson Ronnie Wood Sondra Smith H c O O 2 c O O 2 0 c 0 0 u y T O O V r 2 Marion Doss 0 inc C moo0 .0 O r m 3 O O m 'c c 0. ate • • 4 Firemen's Pension and Relief Fund Meeting Minutes May 27, 2004 Firemen's Pension Meeting Minutes May 27, 2004 Page 1 of 4 A meeting of the Fayetteville Firemen's Pension and Relief Fund Board of Trustees was held at 11:00 am. on May 27, 2004 in Room 326 of the City Administration Building. Present: Pete Reagan, Robert Johnson, Ronnie Wood, Danny Farrar, City Clerk Sondra Smith, City Attorney Kit Williams, Alderman Lucas, Marsha Farthing and Denise Grizzle. Absent: Mayor Coody and Marion Doss The meeting was called to order by Pete Reagan. Approval of the April 29, 2004 Meeting Minutes: Ronnie Wood moved to approve the April 29, 2004 minutes. Danny Farrar seconded the motion. Upon roll call the motion passed 5-0. Mayor Coody and Marion Doss were absent. Approval of the Pension List for June, 2004: Pete Reagan: Danny, are you on the June report? Denise Grizzle: I apologize; I will get him added to the June Pension List and send a revised list to Sondra this afternoon. Pete Reagan: Danny Farrar will be added to the DROP list in the amount of $3,916.83 per month. Is that the only addition or correction? Robert Johnson moved to approve the June pension list with Danny Farrar added to the DROP. Ronnie Wood seconded the motion. Upon roll call the motion passed 5-0. Mayor Coody and Marion Doss were absent. Longer Investments: Pete Reagan: Longer Investments sent a copy of the investment report. On page 5 our total portfolio is up 3.3% as of April 30, 2004. Firemen's Pension Meeting Miofttt -. May 27, 2004 Page 2 of 4 Old Business: Decrease of Benefits for Volunteer Firefighter's Widows: Pete Reagan: At the last meeting we requested information on the decrease in benefits on the volunteer firefighter's widows for the pension fund. A copy of the letter that was sent by Sondra to PRB and the response to that letter is enclosed. Sondra Smith: You will notice that PRB did not really say anytlung in their letter; they just referred us back to the Act 1370. Pete Reagan: I would have thought that we would have gotten something from them stating because the widow is not mentioned in Act 1370 that is the reason the increase is for the firefighter only. Sondra Smith: I stated in my letter that this board wanted them to respond in writing as to why Act 1 370 does not apply to the widows. Denise Grizzle: The only reason they gave me was that the widow is not specifically mentioned in Act 1370, therefore it did not apply to them and we should have never been told to include the widows. Kit Williams: They probably don't want to put it in writing. Denise Grizzle: Steve Davis did ask me to ask David Carreiro of Osborn and Carreiro to write a letter after the actuarial study of 2003 stating that the impact of giving the widows that benefit was immaterial to the fund. The actuarial has not been completed and therefore 1 have not completed the letter. Pete Reagan: 1 think this is something that we need to pursue in the 2005 legislative session. New Business: Danny Farrar added to the DROP plan effective May 1, 2004: Pete Reagan: Any question on adding Danny to the DROP? Sondra Smith: We probably need to vote on adding him to the DROP plan so that it will be in the minutes. Robert Johnson moved to add Danny Farrar to the DROP plan effective May 1, 2004. Sondra Smith seconded the motion. Upon roll call the motion passed 5-0. Mayor Coody and Marion Doss were absent. • • • • Budget Report for 03/31/04: • A copy of the budget report was presented to the Board. Other Business: Firemen's Pension Meeting Minutes May 27, 2004 Page 3 of 4 Marsha Farthing: Denise and I want to talk to you about changing your bank account. We can do the direct deposit without changing the bank account, but it would make it a lot easier if we could change the account. You will probably see some bank service charges if we move the account to Arvest. Kit Williams: Why would they want to move it to Arvest then? Marsha Farthing: To make the direct deposit process a lot easier. We want to go to direct deposit and the Board said that was okay. Kit Williams: How much would it cost? Marsha Farthing: The Police account is about $200 for the year. Pete Reagan: That is an Arvest Bank service charge? Marsha Farthing Yes, yours would probably receive a similar charge each year We don't know why Bank of Arkansas doesn't charge us anything. The account has been there a long time and it was set up that way, I am surprised they have let it go this long without charging us. It could be when we ask them to implement the direct deposit that they would start charging us also. Kit Williams: Is it easier for the city to transfer the money to Arvest as opposed to Bank of Arkansas? Marsha Farthing: It would just be better, we have all of our accounts there, the only accounts we have left at Bank of Arkansas is the Fire Pension and a returncheck account. The only reason we have to have the return check account is because we have the Fire Pension account there. The city has a contract with Arvest for the majority of our accounts; they were selected when we went out with an RFP to select a bank. We didn't move the Fire Pension at the time because you have to move your account. Pete Reagan: I have no problem with it, if it makes it easier for you. Ronnie Wood moved to move the checking account to Arvest Bank. Danny Farrar seconded the motion. Upon roll call the motion passed 5-0. Mayor Coody and Marion Doss were absent. Denise Grizzle: Would you like for us to send the pensioners a letter about the direct deposit or would you like Arvest to come to a meeting to answer any questions? Firemen's Pension Meeting Minvt`s May 27, 2004 Page 4 of*' Pete Reagan: I don't have any questions on direct deposit I am setup with it on payroll. 1 think a letter to the pensioners advising them that they now have this available would cover it. Kit Williams: Add a form with the letter to make it easier for them to sign up. Meeting Adjourned at 11:15 am. • • • FIREMEN'S RELIEF AND PENSION July 2004 T'OLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE H OF JULY. YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED. DATE OF REGULAR Year To Date EMP# RETIREMENT NAME 79 11/99 ARMSTRONG (DILL), PAMELA 177 4/04 BACHMAN, EDDIE 74 3/86 BAIRD, JULIA 2 3/75 BLACKARD, PAUL 63 5/72 BOLAIN, ANN 68 7/99 BONADUCE, MICHAEL 44 9/86 BOUDREY, BETTY MRS. 45 9/86 BOUDREY; HOWARD 49 7/88 BOUDREY, JACK 4 6/67 CARL, FLOYD JR 5 5/72 CASELMAN, ARTHUR 57 5/90 CATE, ROY 6 4/68 CHRISTIE, ARNOLD 8 10/76 COUNTS, WAYNE 77 11199 DILL,GARY JOHN 11 2/76 FARRAR,ALONZO 38 5/84 FRALEY, JOSEPH G. 170 5/03 FREEDLE, LARRY 92 03/02 GAGE,TOMMY 34 6/79 HARRIS, JAMES E. •70 11/99 HARRIS, MARY RUTH 93 06/02 JENKINS, JOHN 86 07/01 JOHNSON,ROBERT 64 4/95 JORDAN, CHARLIE 76 5/88 JUDY, JAN 37 3/84 KING, ARNOLD D. 54 5/89 KING, ARVIL 12 3/60 LANE, HOPE MRS 13 10/67 LAYER, MERLIN 173 12/19 LEDBETTER, DENNIS 14 7/74 LEE, HAROLD 51 10/88 LEWIS, CHARLES 40 9/85 LOGUE, PAUL D. 50 9/88 MASON, LARRY 39 4/85 MC ARTHUR, RONALD A. 35 2/82 MC CHRISTIAN, DWAYNE 15 4/77 MC WHORTER, CHARLES 29 8/81 MILLER, DONALD 73 2/00 MILLER,KENNETH 42 2/86 MOORE, JAMES H. 176 4/04 MORRIS, DIXIE E. 16 4/64 MORRIS, WILLIAM H. (DECEASED) 62 10/68 MORRISON, ELIENE 48 7/88 MULLENS, DENNIS W. 46 5/88 OSBURN, TROY 81 02/01 PHILLIPS,LARRY 53 2/89 POAGE, LARRY 22 4/73 REED, JOE 30 3/81 SCHADER, EARVEL (DECEASED) 172 12/03 SCHADER, MADGE 41 9/85 SCHADER, TROY 83 03/01 SKELTON, KIMBERLY 66 8/98 SKELTON, PAULINE 82 03/01 SKELTON,KELLY MO BENEFIT REG BENEFIT 1,708.68 2,468:23 1,698.63 103.00 56.65 2,817.19 2,335.20 1,969.35 1553.05 103.00 123.60 1,686.21 103.00 103.00 1,708.69 941.52 1,666.62 3,597.65 2,447.63 103.00 56.65 3,37215 2,897.04 2,144.36 1,553.05 1,434.98 1,612.98 56.65 430.03 3,559.06 103.00 1,553.05 2,703.63 1 537 61 1,653.07 103.00 1,257.90 1,229.21 2,997.48 103.00 72.10 82.40 2,065.51 1,790.61 2,606.36 2,211.99 103.00 1,306.45 1,437.45 1,147.60 401.70 1,147.60 10,252.08 4,936:46 10,191.78 618.00 478.95 16,903.14 14,01120 11,816.10 9,318.30 618.00 741.60 10,117.26 618.00 618.00 10,252.14 5,649.12 9,999:72 21,585.90 14,685.78 618.00 478.95 20,232.90 17,382.24 12,866.16 9,318.30 8,609.88 9,677 88 478 95 2,580.18 21,354.36 618.00 9 318 30 16,221.78 9,225.66 9 918 42 618.00 7,547.40 7,375.26 17,984.88 618.00 216.30 355.35 633 45 12,393.06 10,743.66 15,638.16 13,271.94 618.00 7,838.70 8,624.70 6,885.60 2,410.20 6,885.60 FED. TAX 300.00 479.27 350.00 475.38 300.00 287.68 100.00 ST. TAX NET 100.00 11982 145.00 50.00 50.00 200.00 15.00 500.00 100.00 226.00 50.00 700.00 200.00 500.00 100.00. 200.00 50.00 265.00 35.00 130.00 50.00 575.00 173.00 75.00 25.00 325.00 75.00 137.61 25.00 150.00 50.00 150.00 125.00 25.00 325.00 75.00 200.00 300.00 57.00 125.00 125.00 38.00 100.00 25.00 25.00 1,308.68 1,869.14 1,203.63 103.00 56.65 2,341.81 1,985.20 1,969.35 1,215.37 103.00 123.60 1,686.21 103.00 103.00 1,608.69 941.52 1 451 62 2,997.65 2 171 63 103.00 56.65 2,472.15 2,297.04 2 144 36 1,303.05 1,134.98 1,432.98 56.65 430.03 2,811.06 103.00 1,453.05 2,303.63 1,375.00 1,453.07 103.00 1,107.90 1,079.21 2,597.48 103.00 72.10 0.00 82.40 2,065.51 1,552.61 2,606.36 1,811.99 103.00 0.00 1,306.45 1,380.45 997.60 251.70 1,147.60 DATE OF EMP# RETIREMENT NAME 36 5/76 90 03/02 165 12/02 65 3/66 27 3/71 71 1/00 28 7/68 88 01/02 52 9/88 DROP DATE 04101/00 07/01/00 01/01/01 03/01/03 03/01/03 03/01/03 04/01/03 05/01/04 SPRINGSTON, CARL STOUT, IMOGENE W. TATE, RALPH TUNE, BILLIE SUE TUNE, MILDRED MRS. WARFORD,THOMAS WATTS, DONALD WOOD,RONNIE D WRIGHT, RANDALL DROP EMPLOYEES NAPIER,LONNIE REAGAN,PETE DOSS,MARION MAHAN, MARSHALL PIERCE, JOEY SHACKLEFORD, GLEN O'NEAL, TEDDY FARRAR, DANNY REGULAR Year To Date MO BENEFIT REG BENEFIT FED. TAX ST. TAX NET 759.91 4,559.46 723.73 4,342.38 3,457.53 20,745.18 82.40 633 45 82.40 633.45 2,359.06 14,154.36 412.00 2,472.00 2,900.50 17,403.00 1,594.25 9,565.50 84396.35 497478.53 70.00 17.00 672.91 723.7 300.00 100.00 3,057.53 82.40 82.40 300.00 2,059.06 412.00 800.00 200.00 1,900.50 200.00 25.00 1,369.25 9,352.94 2,042.82 73,000.59 NEW BENEFITS 3,316.32 3,332.75 5,068.25 3,843.23 3 437 82 3,437.82 3,884.43 3,916.83 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) SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF 2003. 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Pr3Te%imat FISCAblFAIt n YEAH m [8D& -n . , •r O0' W$- v... • `.: ,>•s..,.sa�... ,-` - � , hse/Detai}TofAL SaSe/Pet911 NOMEEI 681029810"5314 €a_ 90 •DATE 00-"' .00___.._... -An L'>tx,...s. setbices TOTAL ; NOP 5ery .00 cdraccomr .. 01 Legal services FISCAL •.:. YEAR 70 DATE. P e u fi,A.: «� ,tea" YEAR mDATE.•+-: •, s-.00.:, Wx/Detail sk 70THL .fegairSety +„„-'_.,_-.� i GlL3HCCCIIN! NU'BgR: -6810.9810.5320.01 k serufce dtargzs '^:,;, fFSCBL AL:4X1t1'kiUTAPRII, ,.. b 't:'' t e. ..Uor.":� TOTAL . . . . : HrokSerCCD ,�a.£-' Base/Detail .00 -'.00 .00 -.ACCOOKI DIENER. 10:91110.5324:60 �--t�03se/Detelt,«TOTA1. 402006 rF&0M-NR-LIh>fl1sc 00 Paatal:uitt�ape1 .- i�FHI t .a. n, �., rig -V ix ;. ..- ! .24iG 9910 ami S.OD _- . m-et�xs gRas7E-= 'Ric-Payroli=metks-04/35/2004 a.0.1.70sM-4408M AL YEAR TO DATE Oo.fi�n' a„s3#.'OO w:c� :A. tO�`, ...+ar:s� �ALIYEA OtA, TE. e.9 z 2 75171- ••� ..'�`ro. 249 46639 63 250•165 02 ,, t.a• t §. qq� i '- •Y. 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