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Home My WebLink About2000-06-15 - Agendas - Final POLICE PENSION AGENDA • JUNE 15, 2000 A meeting of the Fayetteville Police Pension and Relief Fund Board will be held on June 15, 2000 at 1 :30 p.m. in Room 326 of the City Administration Building located at 113 West Mountain Street, Fayetteville, Arkansas. 1 . Approval of the minutes 31"z oZ 0 a 2.. Pension List (01 p200 d 3 . Investment Report 4. Other Business i 9 MINUTES OF A MEETING • OF THE FAYETTEVILLE POLICE PENSION AND RELIEF FUND BOARD MARCH 23, 2000 A meeting of the Fayetteville Police Pension and Relief Fund Board was held on March 23, 2000 at 1 : 30 p.m. in Room 326 of the City Administration Building located at 113 West Mountain Street, Fayetteville, Arkansas. PRESENT: Mayor Hanna, Eldon Roberts, Randy Bradley, Jerry Friend, Dr. Mashburn, Administrative Services Director John Maguire, and City Clerk Heather Woodruff. MINUTES Mr. Eldon Roberts moved to approve the minutes. Mr. Bradley seconded the motion. Upon roll call the motion carried unanimously. PENSION LIST Mr. Roberts moved to approve the pension list. Mr. Bradley seconded the motion. Upon roll call the motion carried unanimously. • OLD BUSINESS ELECTION RESULTS Mr. Roberts stated they had called all the retired people and taken a poll to see whom they would like to represent them. The results of the poll had been to reelect Randy Bradley and Jerry Friend. NEW BUSINESS RON CARROLL Mr. Roberts stated a letter had been mailed to all the board members from Mr. Carroll' s doctor which stated in his opinion Mr. Carroll was no longer able to do the full activity required of a police officer. He added Ron was a Sargent and has been with the force for eighteen years. He has opted for medical retirement. He has had trouble with his feet and knees for several years. Dr. Mashburn read Dr. Harris' letter. He stated that from a medical stand point he should be granted medical retirement. He asked Mr. Roberts to describe his duties. Mr. Roberts stated he was a patrol Sargent in charge of the patrolmen on the streets. At different • times he could be required to pursue someone. In response to questions from Dr. Mashburn, he added he had not failed to perform his duties in the past. He has been off quiet a bit due to his • " problems. He has been injured in the past on duty. In July of this year he would have in eighteen years. He added every six months Mr. Carroll would have to furnish a letter stating he was not able to perform his duties. If he did not receive the letter, they would expect him to come back to active duty. Mayor Hanna asked if it was practical to try and find him a desk job. Mr. Roberts stated they tried to find light duty jobs for people who were going to get well and return to active duty. Mr. Carroll would be allowed to work other jobs as long as it was not a police type duty. Mr. Jerry Friend moved to accept Mr. Carroll's request for medical retirement. Mr. Roberts seconded the motion. Upon roll call the motion carried unanimously. INVESTMENT REPORT An investment report was presented by Kim Cooper of Longer Investments. They would be reviewing December 31 , 1999 numbers. Common stocks were a total of 46% of a combined portfolio. Equity mutual fund was 3 .6%, which was our foreign stock exposure. The total equity exposure was 49.6%. Bonds were at • 50% of the portfolio. They would be rolling a Government Agency bond before maturity to lock in higher interest rates. Total market value as of December 31 , 1999 was $ 11 ,666,000.00. The total income yield was $422, 179.00. The stock account was 13% was held in bonds. They were at a maximum equity. They could not put any more equity into the account so they would keep holding the bonds. Realized gain for the year was $58,648.00. Next income for the year was $330,000. The market capitalization was 9% in large cap stock. Small and mid caps had been about 9%. In September they were at 75% in small caps. They had moved into technology stock and telecommunication stocks. That would work to enhance the growth profile of the portfolio. The bond portfolio they sold bonds to lock in a higher interest rates and to extend the maturity dates. The average maturity was four years. In November $ 135,000 had been contributed. There had been a total of $90,000 withdrawn from the account. In 1999 Equities were up 5.7%. Fixed Income (bonds) was up .3%. They were in a rising interest rate environment. Iri that situation the prices of the bonds fall. The total portfolio for the • year was up 3 .3%. Their average annual return on stocks since the beginning of the account has been 14.3% and bonds had been 6.8%. Average annual return had been 9.5%. • ' The total investment returns since they had been managing the account was up $3 ,095 ,000. All numbers are net of commissions. Their total expense ratio for managing the fund was 1 . 17%. Prior to consolidation their expenses were running 1 .49%. As of March 17, 2000, they had added Wal-mart to their retail sector. They had added to other areas such as banks. They had seen an improvement in the banking industry. Technology stocks had been purchased. Meeting adjourned at 2: 10 p.m. • T POLICE PENSION FUND JUNE, 2000 • EMP# NAME GROSS FED. TAX ST. TAX NET 154 ALLEN, CHARLES 2,244.53 220.00 66.89 1 ,957.64 152 ARNOLD, WILLADEAN 853.00 853.00 130 BAYLES, DON 1 ,384.31 1 ,384.31 107 BLACK, JOE P 985.99 100.00 20.00 865.99 120 BOW EN, J R 613. 19 10.00 603.19 147 BRADLEY, GERALD 4, 172.85 840.53 117.32 3,215.00 139 BRADLEY, RANDALL 2,482.20 2,482.20 101 BROOKS, BILL 1 ,325.79 1 ,325.79 157 CARROLL,RONALD L 3,132.22 435.00 180.00 2,517.22 151 COLE, RUSTON 21659.53 600.00 200.00 1 ,859.53 109 COOPER, ADRIAN 565.71 565.71 111 DAY, LUCILLE 400.00 400.00 108 DENNIS, WARREN 1 ,202.71 1 ,202.71 125 FLOWERS, HAROLD 759.10 759. 10 140 FOSTER, BILLIE D. 2,781 .68 300.00 120.00 2,361 .68 148 FRIEND, JERRY 2,734.53 350.00 150.00 2,234.53 145 HANNA, MARK 2,376. 11 225.00 75.00 2,076.11 124 HASKINS, RONALD 689.73 689.73 146 HUTCHENS, BERNICE 889.85 130.00 759.85 143 JOHNSON, CHARLES 2, 133. 14 42.67 2,090.47 103 JOHNSON, WENDELL 690.55 690.55 118 JONES, BOB 2,862.00 2,862.00 144 KILGORE, DONALD 1780.31 19.72 1 ,760.59 129 LAWSON, FORREST 1 ,367.48 200.00 1 ,167.48 150 LITTLE, PATSY R 400.00 400.00 153 LORCH, DONNA G 400.00 400.00 156 MARTIN, KENNETH 3185.49 1000.00 140.00 21045.49 128 MCCAWLEY, LARRY 1 ,476.94 180.00 20.00 1 ,276.94 116 MCCHRISTIAN, MARIE 400.00 400.00 126 MCWHORTER, KAREN 500.02 500.02 136 MITCHELL, MICHAEL 21003.56 150.00 1 ,853.56 141 MUELLER, ROSEMARY 1 ,795.38 11795.38 158 MUNSON,ANGELA 3,978.54 500.00 183.00 3,295.54 112 MURPHY, JAKE 400.00 400.00 137 PERDUE, LARRY 2,018.55 200.00 25.00 1 ,793.55 132 PHILLIPS, HOMER GENE 1 ,528.40 300.00 1 ,228.40 105 PRESTON, GEORGE DAVID 1 ,396.37 67.43 196.37 1 ,132.57 135 RICKMAN, LOREN 1 ,939.54 230.00 65.00 1 ,644.54 104 RIGGINS, RAYMOND C 1 ,455.01 - 125.00 25.00 1 ,305.01 122 SKELTON, FRANK 728.67 728.67 123 SPENCER, HOLLIS 1 ,201 .65 150.00 36.65 1 ,015.00 155 STOUT, BETTY 430.25 430.25 133 SURLES, JERRY 2,362.50 412.50 50.00 1 ,900.00 142 TAYLOR, DENNIS 1 ,795.38 65.00 65.00 1 ,665.38 106 UPTON, FRANKLIN 926.84 10.00 916.84 110 WATTS, BEULAH 400.00 400.00 149 WILLIAMS, JOYCE 1 ,232.07 217.07 1 ,015.00 134 WITT, DON 1 ,539.09 64.00 115.00 1 ,360.09 127 WOOD, PAUL J 1 ,378.72 1 ,378.72 "'---------------` ----------------- ------------------` -------------------` 575,959.48 $7,081 .53 $1 ,912.62 $66,965.33 • POLICE PENSION FUND JULY,2000 EMP# NAME GROSS FED. TAX ST. TAX NET 154 ALLEN, CHARLES 2,244.53 220.00 66.89 1 ,957.64 152 ARNOLD, WILLADEAN 853.00 653.00 130 BAYLES, DON 1 ,384.31 1 ,384.31 107 BLACK, JOE P 985.99 100.00 20.00 865.99 120 BOW EN, J R 613.19 10.00 603. 19, 147 BRADLEY, GERALD 4,172.85 840.53 117.32 3,215.00 139 BRADLEY, RANDALL 2,482.20 2,482.20 101 BROOKS, BILL 1 ,325.79 1 ,325.79 157 CARROLL,RONALD L 3,132.22 435.00 180.00 2,517.22 151 COLE, RUSTON 2,659.53 600.00 200.00 1 ,859.53 109 COOPER, ADRIAN 565.71 565.71 111 DAY, LUCILLE 400.00 400.00 108 DENNIS, WARREN 1 ,202.71 1 ,202.71 125 FLOWERS, HAROLD 759.10 759.10 140 FOSTER, BILLIE D. 2,781 .68 300.00 120.00 2,361 .68 148 FRIEND, JERRY 2,734.53 350.00 150.00 2,234.53 145 HANNA, MARK 2,376.11 225.00 75.00 2,076.11 124 HASKINS, RONALD 689.73 689.73 146 HUTCHENS, BERNICE 889.85 130.00 759.85 143 JOHNSON, CHARLES 2,133.14 42.67 2,090.47 103 JOHNSON, WENDELL 690.55 690.55 118 JONES, BOB 2,862.00 2,862.00 144 KILGORE, DONALD 1780.31 19.72 1 ,760.59 129 LAWSON, FORREST 1 ,367.48 200.00 1 ,167.48 150' LITTLE, PATSY R 400.00 400.00 153 LORCH, DONNA G 400.00 400.00 156 MARTIN, KENNETH 3185.49 1000.00 140.00 2,045.49 • 128 MCCAWLEY, LARRY 1 ,476.94 180.00 20.00 1 ,276.94 116 MCCHRISTIAN, MARIE 400.00 400.00 126 MCWHORTER, KAREN 500.02 500.02 136 MITCHELL, MICHAEL 2,003.56 150.00 1 ,853.56 141 MUELLER, ROSEMARY 1 ,795.38 1 ,795.38 158 MUNSON,ANGELA 3,621 .36 500.00 183.00 2,938.36 112 MURPHY, JAKE 400.00 400.00 137 PERDUE, LARRY 2,018.55 200.00 25.00 1 ,793.55 . 132 PHILLIPS, HOMER GENE 1 ,528.40 300.00 1 ,228.40 _ 105 PRESTON, GEORGE DAVID 1 ,396.37 67.43 196.37 1 ,132.57 135 RICKMAN, LOREN 1 ,939.54 230.00 65.00 1 ,644.54 104 RIGGINS, RAYMOND C 1 ,455.01 125.00 25.00 1 ,305.01 122 SKELTON, FRANK 728.67 728.67 123 SPENCER, HOLLIS 1 ,201 .65 150.00 36.65 1 ,015.00 155 STOUT, BETTY 430.25 430.25 133 SURLES, JERRY 2,362.50 412.50 50.00 1 ,900.00 142 TAYLOR, DENNIS 1 ,795.38 65.00 65.00 1 ,665.38 106 UPTON, FRANKLIN 926.84 10.00 916.84 110 WATTS, BEULAH 400.00 400.00 149 WILLIAMS, JOYCE 1 ,232.07 217.07 1 ,015.00 134 WITT, DON 11 ,539.09 64.00 115.00 1 ,360.09 127 WOOD, PAUL J 1 ,378.72 1 ,378.72 -------------------- --------------------` -------------------` -----www----------` $75,602.30 $7,081 .53 $1 ,912.62 $66,608.15 r - - - .-� � � - may _ ` - ��.� � - ��_- �� . - � Win - ��/ ��___ � ��au0, � � _ _ �_ _ _ _ _ _ _ _ _.- ��/ �� _ cam_ - - _ - - - -rvG��ti/_ -��%� -_ _ - - - --�� _ �%lam._ _ _ _ _ - -_�- _ . ,\ ��, r, ___ � � _ - FFA - h � �. M1 + . - ` �. T' "' - - � a rr .. _ .4r_� .. ._ _ ___ may_, _. . o� 5 �. I �5 i r - _ _ _ r � • _ 5L ,6 71 _ ._ Q �, ._ . �60 ti T _. �-T-' _ ... _ _ _ . _ fir - � � - 5� /s� � . - _ .._ _ rte �,�—y�� .�� - 7� _ - --- - - - - - - --- - 4 ,, �� __ �-G� _ . _ ��'�� _ �o �'12�-t� . � �D_ �R --� ori_ _ ��.�_ � 7��_ - __ _____-�T__ _.� ` __ -.__ _ ____ ___ . T • �� _ __ � __ ___ � __- -- s _ . _� _ _. �. - -- — _______ �� e _ .� — — -- - � 7 �_____ �.. _3: o _ �� _ . ___ _y . . __ __.. - _ _ �_ __ __ __ ___ _ _ ___ _ T .,�_ _ _ ,�_ _ �.. _ T _ � _-_. _. _ _ _. __-�_ _. -- .� `-- • _ _ � - _ � � , - . , t-- - -- - - -- -- - - - -_ - - - _ _._ - . � ._.. _ - - .,, . - ---- - tit i s s - d FAYETTEVILLE THE CITY OF FAYETTEVILLE, ARKANSAS To : Police Pension Members From: Heather Woodruff, City Clerk Date: July 25, 2000 RE: Supplemental Benefit In September of 1999 you began receiving a supplemental benefit from the State of Arkansas. This benefit has been guaranteed for two years. We are now at the end of the first year and have not received the funding necessary for the second year. Since this is a State-funded supplement, the money cannot be withdrawn from the city' s pension fund. Please accept my apologies for the shortage on this month's check. When the funds are • received from the State, you will receive restitution. If you have any questions, please feel free to contract myself (575-8323) or Eldon Roberts (587- 3500). 113 WEST MOUNTAIN 72701 501521-7700 FAX 501575-8257