HomeMy WebLinkAbout1986-07-07 MinutesMINUTES OF A MEETING OF THE FIRE PENSION BOARD
A regular meeting of the Firemen's Pension & Relief Fund Board was held
at 4:30 p.m. on Monday, July 7, 1986 in Room 313 of City Hall.
PRESENT: Chairman Don Grimes, Treasurer Scott Linebaugh,
Secretary Suzanne Kennedy, Fire Chief Mickey Jackson,
Firemen John Dill, Darrell Judy, Pete Reagan and Retiree
Carl Springston
Call to Order
The meeting was called to order by Chairman Grimes.
Minutes
The minutes of the May meeting were considered. It was moved by
Reagan, seconded by Dill and unanimous to approve the minutes of the
May meeting.
The minutes of the June meeting were considered. It was moved by Dill,
seconded by Springston and unanimous to approve the minutes of the June
meeting.
Pension List
The pension list for July, being the same as last month's pension list,
was considered. It was moved by Springston, seconded by Dill, and
unanimous, to approve the July pension list.
Old Business
There was no old business introduced.
New Business
Dill asked Linebaugh if the request for benefit increases had been sent
in. Linebaugh responded that this had not yet been done.
Grimes commented that he thought the Board's motion at the last
meeting, to request benefit increases, was worded in a pretty general
fashion. He asked that the Board consider this in more detail and
redefine its actions, to be sure they aren't leaving any loopholes and
in order to have a formula which can be uniformly applied in the
future.
Fire Pension Board Minutes
July 7, 1986
Page 2
Linebaugh pointed out that the Board is required to decide exactly what
it wishes to approve before the actuarial study is done.
Grimes expressed concern that the actions taken by the Board could
prevent a fire chief, for example, from receiving more benefits than a
beginning fireman.
Linebaugh asked the Board to explain how they came up with the criteria
by which five retirees were left off the list of those to receive
benefit increases. Dill responded that it was done by rank. Jackson
explained that the intent was to prevent an existing retiree from
earning more than someone retiring now.
Linebaugh asked if this meant the increase could not be applied to
former Fire Chief Logue's pension. Dill responded that they were
attempting to raise benefits for some of the older people whose
benefits have been low for some time and then, in the future, get back
to cost -of -living raises. Jackson said it didn't occur to him that the
Board's actions would prevent Logue from receiving this increase and
perhaps the next increase. Carl Springston said it was his
understanding that this would be a one-time thing and that it involved
Logue at this point.
Grimes asked if it was fair to put a former fire chief on hold until
the gap is closed. Grimes commented that some of the individuals have
been retired for quite some time and it may not be possible to tell at
what step they were on the pay scale when they retired.
Judy said the point was not to put someone who is retired above what
someone can retire at now.
Grimes suggested the motion be clarified to indicate that the Board
wants to seek increases for those who have retired, but doesn't want
any of them to be making more than a person who would retire today at
the same rank at the maximum.
Springston pointed out there could be a situation where someone of the
same rank worked longer years to get to their pay scale. Dill noted
that Arnold King had received 1/2 salary plus extra time.
Grimes suggested the entire list of retirees needed to be reviewed.
Linebaugh asked the firemen if, when they planned this out, they ever
checked to see if anyone would be eligible for a $25 increase rather
than a $50 increase. Judy said they were trying just to get the lowest
people raised. Linebaugh pointed out that others might complain
Fire Pension Board Minutes
July 7, 1986
Page 3
because they could have received a $25 increase and still would have
been under half their salary.
Grimes remarked that there was a possibility the raises may not be
totally equitable. Grimes asked the firemen if one of them would be
willing to do some calculations to see how an increase would affect
everyone. Linebaugh noted that it would be necessary to determine
everyone's rank. Grimes suggested the Board members should calculate
this and then have the staff calculate it and compare figures.
Reagan commented that they had considered asking for a $100 increase
across-the-board but chose a lower figure in case the actuarial report
shows the fund could not give a $100 increase and remain actuarially
sound.
Management Fee for Equity Account
Pete Reagan reported he had talked with Jacques Devore of RNC and they
have agreed to reduce the management fee from 1.6% to 1.4%, on the
Equity Account, and have agreed to drop the $250 set-up fee, for a
savings of about $1200. It was decided that this was agreeable to the
Board.
Ad journma„t
With no further business, the meeting adjourned at about 5:05 p.m.
�MANNHAIRMAN
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