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HomeMy WebLinkAbout2005-12-29 MinutesFiremen's Pension and Relief Fund Board of Trustees Meeting Minutes December 29, 2005 Page l of 2 Firemen's Pension and Relief Fund Board of Trustees Meeting Minutes December 29, 2005 A meeting of the Fayetteville Firemen's Pension and Relief Fund Board of Trustees was held at 11:00 AM on December 29, 2005 in Room 326 of the City Administration Building. Mayor Coody called the meeting to order. Present: Mayor Coody, Sondra Smith, Marion Doss, Danny Farrar, Trish Leach, Accounting Department, and Kit Williams, City Attorney, Fire Chief, Tony Johnson, and Lisa Branson, City Clerks Office. Absent: Dennis Ledbetter, Pete Reagan, and Ronnie Wood. Approval of the November 17, 2005 Meeting Minutes Marion Doss: Since I retired you're the next highest ranking officer so you are automatically on the Pension Board. A motion was made to move you to my position and appoint me to serve out the rest of your position unless someone objects to it, in which case we would have an election for that five month period, and then we will have the regular election in May. Marion Doss moved to approve the November 17, 2005 meeting minutes. Danny Farrar seconded the motion. Upon roll call the motion passed 4-0. Dennis Ledbetter, Pete Reagan, and Ronnie Wood were absent. Approval of the January, 2006 Pension List Sondra Smith: Marion has been moved on the January list from the DROP List to retired. They have added on the 3% temporary COLA. Mayor Coody: Is that 3% for the entire pension list? Sondra Smith: Yes. Mayor Coody: How long is that temporary COLA? Marion Doss: Ours was 3 years. If anyone makes a motion to do another increase it has to go back to PBR for actuary study. Mayor Coody: Only those two modifications? Firemen's Pension and Relief Fund Board of Trustees Meeting Minutes December 29, 2005 Page 2 of 2 Sondra Smith: You can see that Marion has been moved to retired, and I also did the calculations on the COLA and I came up with the same amount as accounting. Danny Farrar moved to approve the January, 2006 pension list. Marion Doss seconded the motion. Upon roll call the motion passed 4-0. Dennis Ledbetter, Pete Reagan, and Ronnie Wood were absent. Old Business: Retirement of Marion Doss Sondra Smith: A copy of his affidavit is in the packet. New Business: Approval of the November 30, 2005 Equity Overage (51.4%) Marion Doss moved to approve the November 30, 2005 Equity Overage. Danny Farrar seconded the motion. Upon roll call the motion passed 4-0. Dennis Ledbetter, Pete Reagan, and Ronnie Wood were absent. Longer Investments: Longer View Report, A copy of the Longer View and Investment Report was given to the board. Meeting was Adjourned at 11:15 AM.