Loading...
HomeMy WebLinkAbout2004-11-04 MinutesFiremen's Pension & Relief Fund Board of Tmstees Meeting Minutes November 4, 2004 Page l of 4 Firemen's Pension and Relief Fund Meeting Minutes November 4, 2004, 2004 A meeting of the Fayetteville Firemen's Pension and Relief Fund was held at 11:00 a.m. On November 4, 2004 in Room 326 of the City Administration Building. PRESENT: Marion Doss, Pete Reagan, Robert Johnson, Ronnie Wood, City Clerk Sondra Smith, City Attorney Kit Williams. ABSENT: Mayor Coody and Danny Farrar Marion Doss called the meeting to order. Approval of the September 30, 2004 Meeting Minutes: Pete Reagan moved to approve the minutes. Ronnie Wood seconded the motion. Upon roll call the motion passed 5-0. Mayor Coody and Danny Farrar were absent. Approval of the November, 2004 Pension List: Pete Reagan: Did we add somebody? Marion Doss: We gave the benefit increase to the widows. Pete Reagan: Harold Lee passed away and his wife is now receiving his benefit. Pete Reagan moved to approve the Pension List. Ronnie Wood seconded the motion. Upon roll call the motion passed 5-0. Mayor Coody and Danny Farrar were absent. Longer Investments: A copy of the Investment report was handed out. Marion Doss: Longer Investments gave there report at the October 28, 2004 meeting. Firemen's Pension & Relief Fund Board of Tmstees Meeting Minutes November 4, 2004 Page 2 of 4 Sondra Smith: Their report will be in the minutes of the October 28, 2004 meeting. We did not have a quorum present at that meeting. Pete Reagan: It appears that the annualized is 6.6%. Basically it is showing that as of August 15, 2004 we had a beginning balance of $9,907,000, we paid out $1,815,000 and we are at $10,063,000. Robert Johnson: It feels good to be back above that. Pete Reagan: It has been a while since we have been there. Old Business: Benefit Increase Volunteer Firemen's Widows: A copy of the signed resolution was given to the Board. A copy of the letter from the City Clerk to PRB was given to the Board. A copy of the letter from David Clark at PRB approving the increase was given to the Board. A copy of the email from Accounting requesting a date the increase should begin (September or October) was given to the Board. Marion Doss: Accounting did not know if we wanted the increase to begin in the month of September or October. The letter from David Clark said the increase was effective September 30, 2004. Sondra Smith: Accounting would like a motion stating if you want the back pay to be from the beginning of September or the beginning of October. Robert Johnson: When did we approve that increase? Was it in August? Sondra Smith: Yes, you actually approved that in August. The resolution was not ready for signatures until September. The resolution was signed in September. Pete Reagan: I think it needs to state that it is pending the approval of the Arkansas Review Board. Sondra Smith: Davis Clark said we could go ahead and increase the benefits. Pete Reagan: Right, we can increase them but if PRB says that we can't then we will have to take the increase back. Marion Doss: We have the letter from PRB giving the okay for it. Firemen's Pension & Relief Fund Board of Trustees Meeting Minutes November 4, 2004 Page 3 of 4 Sondra Smith: But it has not gone before the actual PRB Board. Marion Doss: I see what you are saying. Pete Reagan: The letter from David Clark states his decision is subject to review by the Arkansas Fire and Police Pension Review Board. What they have done in the past is because the actuary has said that we could implement the increase they have gone ahead and let us. Sondra Smith: We do not receive anything from PRB after they meet that says they approved the increase. Marion Doss: It's in their minutes and I usually look at those electronically. Sondra Smith: They should meet in December. Pete Reagan: December 15th. Sondra Smith: Do you want to go ahead and back pay them now or do you want to wait until the PRB Board reviews this. Usually they don't have any problems. Pete Reagan: Yes back pay now. They shouldn't have any problem at all. It's just a motion they have to go through. Robert Johnson moved to approve the widow's benefits retroactive to the first of September contingent upon the approval of the Arkansas Fire and Police Pension Review Board. Pete Reagan seconded the motion. Upon roll call the motion passed 5-0. Mayor Coody and Danny Farrar were absent. New Business: NCPERS Membership Dues Invoice: Pete Reagan moved to renew the NCPERS membership. Robert Johnson seconded the motion. Upon roll call the motion passed 5-0. Mayor Coody and Danny Farrar were absent. Fire & Police Academy Conference Information: Marion Doss: This is just information about an upcoming seminar? Sondra Smith: Yes, it is in January. Firemen's Pension & Relief Fund Board of Tmstees Meeting Minutes November 4, 2004 Page 4 of 4 2005 Stars & Stripes Summit Information was handed out. The Budget Report dated August 31, 2004 was handed out. Pete Reagan: I would like for us to consider sending someone to the NCPERS Conference in May of 2005. Sondra would you put that on the agenda for the next Fire Pension meeting. Sondra Smith: Yes. Meeting Adjourned at 11:25 PM. Firemen's Pension & Relief Fund Board of Tmstees Meeting Minutes November 4, 2004 Page l of 4 Firemen's Pension and Relief Fund Meeting Minutes November 4, 2004, 2004 A meeting of the Fayetteville Firemen's Pension and Relief Fund was held at 11:00 a.m. On November 4, 2004 in Room 326 of the City Administration Building. PRESENT: Marion Doss, Pete Reagan, Robert Johnson, Ronnie Wood, City Clerk Sondra Smith, City Attorney Kit Williams. ABSENT: Mayor Coody and Danny Farrar Marion Doss called the meeting to order. Approval of the September 30, 2004 Meeting Minutes: Pete Reagan moved to approve the minutes. Ronnie Wood seconded the motion. Upon roll call the motion passed 5-0. Mayor Coody and Danny Farrar were absent. Approval of the November, 2004 Pension List: Pete Reagan: Did we add somebody? Marion Doss: We gave the benefit increase to the widows. Pete Reagan: Harold Lee passed away and his wife is now receiving his benefit. Pete Reagan moved to approve the Pension List. Ronnie Wood seconded the motion. Upon roll call the motion passed 5-0. Mayor Coody and Danny Farrar were absent. Longer Investments: A copy of the Investment report was handed out. Marion Doss: Longer Investments gave there report at the October 28, 2004 meeting. Firemen's Pension & Relief Fund Board of Tmstees Meeting Minutes November 4, 2004 Page 2 of 4 Sondra Smith: Their report will be in the minutes of the October 28, 2004 meeting. We did not have a quorum present at that meeting. Pete Reagan: It appears that the annualized is 6.6%. Basically it is showing that as of August 15, 2004 we had a beginning balance of $9,907,000, we paid out $1,815,000 and we are at $10,063,000. Robert Johnson: It feels good to be back above that. Pete Reagan: It has been a while since we have been there. Old Business: Benefit Increase Volunteer Firemen's Widows: A copy of the signed resolution was given to the Board. A copy of the letter from the City Clerk to PRB was given to the Board. A copy of the letter from David Clark at PRB approving the increase was given to the Board. A copy of the email from Accounting requesting a date the increase should begin (September or October) was given to the Board. Marion Doss: Accounting did not know if we wanted the increase to begin in the month of September or October. The letter from David Clark said the increase was effective September 30, 2004. Sondra Smith: Accounting would like a motion stating if you want the back pay to be from the beginning of September or the beginning of October. Robert Johnson: When did we approve that increase? Was it in August? Sondra Smith: Yes, you actually approved that in August. The resolution was not ready for signatures until September. The resolution was signed in September. Pete Reagan: I think it needs to state that it is pending the approval of the Arkansas Review Board. Sondra Smith: Davis Clark said we could go ahead and increase the benefits. Pete Reagan: Right, we can increase them but if PRB says that we can't then we will have to take the increase back. Marion Doss: We have the letter from PRB giving the okay for it. Firemen's Pension & Relief Fund Board of Trustees Meeting Minutes November 4, 2004 Page 3 of 4 Sondra Smith: But it has not gone before the actual PRB Board. Marion Doss: I see what you are saying. Pete Reagan: The letter from David Clark states his decision is subject to review by the Arkansas Fire and Police Pension Review Board. What they have done in the past is because the actuary has said that we could implement the increase they have gone ahead and let us. Sondra Smith: We do not receive anything from PRB after they meet that says they approved the increase. Marion Doss: It's in their minutes and I usually look at those electronically. Sondra Smith: They should meet in December. Pete Reagan: December 15th. Sondra Smith: Do you want to go ahead and back pay them now or do you want to wait until the PRB Board reviews this. Usually they don't have any problems. Pete Reagan: Yes back pay now. They shouldn't have any problem at all. It's just a motion they have to go through. Robert Johnson moved to approve the widow's benefits retroactive to the first of September contingent upon the approval of the Arkansas Fire and Police Pension Review Board. Pete Reagan seconded the motion. Upon roll call the motion passed 5-0. Mayor Coody and Danny Farrar were absent. New Business: NCPERS Membership Dues Invoice: Pete Reagan moved to renew the NCPERS membership. Robert Johnson seconded the motion. Upon roll call the motion passed 5-0. Mayor Coody and Danny Farrar were absent. Fire & Police Academy Conference Information: Marion Doss: This is just information about an upcoming seminar? Sondra Smith: Yes, it is in January. Firemen's Pension & Relief Fund Board of Tmstees Meeting Minutes November 4, 2004 Page 4 of 4 2005 Stars & Stripes Summit Information was handed out. The Budget Report dated August 31, 2004 was handed out. Pete Reagan: I would like for us to consider sending someone to the NCPERS Conference in May of 2005. Sondra would you put that on the agenda for the next Fire Pension meeting. Sondra Smith: Yes. Meeting Adjourned at 11:25 PM.