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HomeMy WebLinkAbout2007-05-24 MinutesFiremen's Pension and Relief Fund Board of Trustees Meeting Minutes May 24, 2007 Page t of 5 Firemen's Pension and Relief Fund Meeting Minutes May 24, 2007 A meeting of the Fayetteville Firemen's Pension and Relief Fund was held at 11:00 AM on May 24, 2007 in Room 326 of the City Administration Building Mayor Coody called the meeting to order. Present: Mayor Coody, Marion Doss, Pete Reagan, Ronnie Wood, City Clerk Sondra Smith, City Attorney Kit Williams, Chief Johnson, Paul Becker, and Amber Wood. Absent: Gene Warford, Marshall E. Mahan Approval of the April 26, 2007 Meeting Minutes: Marion Doss moved to approve the April 26, 2007 Meeting Minutes. Pete Reagan seconded the motion. Upon roll call the motion passed 4-0. Gene Warford and Marshall E. Mahan were absent. Ronnie Wood was absent during the vote. Approval of the Pension List: Approval of the June, 2007 Pension List — No Changes There were no changes to the pension list. Pete Reagan moved to approve the June, 2007 Pension List. Marion Doss seconded the motion. Upon roll call the motion passed 4-0. Gene Warford and Marshall E. Mahan were absent. Ronnie Wood was absent during the vote. Old Business: Dennis Mullens retirement classification Mayor Coody: Is this the gentleman that wants to reclassify to disabled? Sondra Smith: Yes. Pete Reagan: I will make a motion to table. Dennis was not able to be here and his accountant is out of town. Mayor Coody: This will be the third or fourth time to table this? Firemen's Pension and Relief Fund Board of Trustees Meeting Minutes May 24, 2007 Page 2 of 5 Marion Doss: We changed the date for the last meeting it's normally the last Thursday of the month. Pete Reagan moved to table to the July meeting. Marion Doss seconded the motion. Upon roll call the motion passed 4-0. Gene Warford and Marshall E. Mahan were absent. Ronnie Wood was absent during the vote. Pension Protection Act (Tabled from the March 29, 2007 meeting.) Mayor Coody: This is that deal where we would have to have more staff to do the work that needs to be done or else charge the fund. We can't charge the fund since it doesn't have the money in it. How does that work again refresh my memory? Kit Williams: This would be for individual members so the fund would not be paying. Mayor Coody: If the fund doesn't pay then we would have to hire more staff? Paul Becker: The fact of the matter is we don't have staff to accommodate this. Mayor Coody: If this is the case why do we keep tabling this? Let's just go ahead and vote on this. Pete Reagan: With all do respect Mr. Chairman we don't know how many folks will take advantage of this. We are in the process of finding that out. There was a retirees meeting in the last month and we had very few show up do to scheduling conflicts. We are in the process of trying to find out who is interested and how many would take this option. Mayor Coody: And would they be willing to pay to cover the staff time? Paul Becker: The fact of the matter is that we don't have staff time to do it. I did approach people to see if they wanted to work additional hours and no one was interested in doing that. We do not have staff to accommodate it at this point. Marion Doss: Have we ever got the Act in black and white to read and see what it actually says? Sondra Smith: We got the proposed Act from NCPERS months ago. Pete Reagan: That was what they thought the guide lines from the IRS would say. Sondra Smith: Right. Pete Reagan: The actual Act I don't know about. Mayor Coody: Are we going to get it? Do we have to have it or what? Firemen's Pension and Relief Fund Board of Trustees Meeting Minutes May 24, 2007 Page 3 of 5 Paul Becker: I will see if I can obtain a copy. Mayor Coody: Okay. Pete Reagan moved to table this item. Marion Doss seconded the motion. Upon roll call the motion passed 5-0. Gene Warford and Marshall E. Mahan were absent. New Business: Summary of the 2007 Legislative Session Sondra Smith: This is a summary of House Bills and Acts that will affect the pension plans. Mayor Coody: Is there any discussion on that or do you want to just read through it and come back next meeting and discuss anything. Since the session is over there's not much we can do about it anyway it's just an update. Sondra Smith: One thing I wanted to bring to everyone's attention on the Police Pension they are allowing widows to vote in the elections. Kit Williams: Which one is that? Sondra Smith: Act 611 - Allowing surviving spouses to vote during the election of local board members. It also allows the board to fill a vacancy for the reminder of the term. So we really need to read through all this. This is for closed pension plans. Marion Doss: It says it does not change the closed fire plans. Sondra Smith: Right, but they might be in the future. Mayor Coody: It won't affect anything we are talking about. Sondra Smith: Just on the Police Pension. Reschedule June Meeting Sondra Smith: That is the meeting when the elevator is going to be down and we were wondering if the board wanted to reschedule the meeting. Mayor Coody: The firemen can't use the stairs? Sondra Smith: Dennis Mullens might come that might be an issue. Mayor Coody: When is the June date? I will be gone for about half of June. Firemen's Pension and Relief Fund Board of Trustees Meeting Minutes May 24, 2007 Page 4 of 5 Sondra Smith: It is June 28th. I won't be here and you won't be here. Amber can attend the meeting if they so choose to go ahead and have one. Kit Williams: The elevator will be out then? Sondra Smith: Yes and Room 111 is already booked. Marion Doss: I don't think any of the board members have any problems walking the stairs. If we had a retiree that wanted to come they might. Pete Reagan: Chief what about your conference room? Chief Johnson: You're welcome to use the conference room. Pete Reagan: How many would that fit? Chief Johnson: I can get 10 in there comfortably. Kit Williams: Is that over at the Central Fire Station on the 1st floor? Chief Johnson: Yes, 1st floor. I can make that available. Mayor Coody: There are nine of us in here right now so ten might be kind of tight. Chief Johnson: I wouldn't want to have more than ten. Sondra Smith: You are welcome to use this room, it's just if anyone comes that can't do the stairs. Kit Williams: I think we can meet over here. I'm going to be on the third floor anyway. Ronnie Wood: Is it likely that Dennis might come? Kit Williams: He can't use the stairs? Pete Reagan: No, he has diminished lung capacity. Sondra Smith: That is the reason I was concerned about him taking three flights of stairs. Marion Doss: Is there anything else down stairs other than Room 11 I? Pete Reagan: What about 219? Kit Williams: He still has one flight to get up there. Why don't we table his item for two months so that he is not expected to come in June when we won't have the elevator? Pete Reagan: So move. Firemen's Pension and Relief Fund Board of Trustees Meeting Minutes May 24, 2007 Page 5 of 5 Sondra Smith: Move Dennis to the July agenda. Mayor Coody: So we will leave the June meeting as it is? Kit Williams: Yes. Longer Investments Monthly Report Pete Reagan: We have to approve the increase. Sondra Smith: Yes, you do. Pete Reagan moved to approve the equity overage. Ron Wood seconded the motion. Upon roll call the motion passed 5-0. Gene Warford and Marshall E. Mahan were absent. Informational Marion Doss: Kit, have you had a chance to look over these Acts that Sondra attached. Kit Williams: No, I haven't. Sondra Smith: I just received those so he has not had a chance to look at them. Pete Reagan: Kit if you would, when you have a chance to look at them, would you look at Act 218. Kit Williams: Alright. I'm going down to the Municipal League Convention in June and they are going to go over all of these Acts and probably hand them out. I haven't actually got these Acts yet even though we applied for the Act service. The most recent ones that I have are the ones they did in 2005. Sondra Smith: I will be down there too. We won't be able to discuss them in June unless you are here but we can in July. Meeting Adjourned at 11:15 AM