HomeMy WebLinkAbout2005-09-29 - Agendas - Final Firemen's Pension and Relief Fund
Meeting Agenda
September 29, 2005
A meeting of the Fayetteville Firemen's Pension and Relief Fund will be held at 11:00 a.m.
on September 29, 2005 in Room 326 of the City Administration Building
1. Approval of the Minutes:
• August 25, 2005 Meeting Minutes
2. Approval of the Pension List:
• Revised September 2005 Pension List
• October 2005 Pension List
3. Old Business:
• Nichols & Campbell, P.A. - Income Tax Refund for Retirees - Checks should have been issued by
the State.
4. New Business:
• Approval of the Equity Allocation Overage for July 31, 2005 Longer Investment Statement.
• Kim Skelton— Proof of Enrollment
• Kelly Skelton Pension Benefits Terminated August 31, 2005
• 2005 Fire Pension Future Supplement Amount - $20,880.00
• 2005 Future Supplement Letters
• 2005 Fire Pension Turn Back Amount - $225,491.71
• Act 1921 of 2005 — Letter from PRB
5. Longer Investments:
• Report
Firemen's Pension and Relief Fund Board of Trustees
Meeting Minutes
August 25, 2005
A meeting of the Fayetteville Firemen's Pension and Relief Fund was held at 11:00 a.m.
on August 25, 2005 in Room 326 of the City Administration Building
Mayor Coody called the meeting to order.
Present: Mayor Dan Coody, Marion Doss, Dennis Ledbetter, Pete Reagan, and Gina Roberts.
Absent: Danny Farrar, Ronnie Wood and Sondra Smith.
Approval of the Minutes:
Pete Reagan moved to approve the July 28, 2005 meeting minutes. Marion Doss seconded the motion.
Upon roll call the motion passed 4-0. Danny Farrar, Ronnie Wood and Sondra Smith were absent.
Approval of the Pension List:
Mayor Coody: Are there any changes to the Pension List?
Gina Roberts: Yes, there are. Trish Leach in Accounting called me today and the future supplement funds
came in today and will be on the September pension checks.
Pete Reagan: Can we make sure and send out a note explaining to the retirees that this is a one time payment.
This is money that is left over in the Act 833 money that the governor had the discretion to spend but the
legislation saw fit to give it to the pensioners. That's actually not a change but it will be on next month's check.
Will the checks go out this month?
Gina Roberts: She said it would be on the September checks.
Pete Reagan: So we need to approve this with the supplement added.
Pete Reagan moved to approve the September, 2005 Pension List with the supplement added. Marion
Doss seconded the motion. Upon roll call the motion passed 4-0. Danny Farrar, Ronnie Wood and
Sondra Smith were absent.
Old Business:
Nichols & Campbell, P.A. - Income Tag refund for Retirees — Update:
Gina Roberts: The letters Trish Leach sent regarding this have come back except for a few. She will be
sending this to the State next Wednesday.
TIF Lawsuit — Update from Kit Williams:
Mayor Coody: Nothing has changed on this.
New Business:
Kim Skelton letter remardina college enrollment:
A copy of the letter that was sent requesting Proof of Enrollment was given to the Board.
Kelly Skelton letter reaardine colleze enrollment:
A copy of the letter that was sent requesting Proof of Enrollment was given to the Board.
Longer Investments:
A copy of the Longer Investment Report was given to the Board to review.
Meeting Adjourned at 11:10 AM.
FIREMEN'S RELIEF AND PENSION
September 2005
THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE
MONTH OF AUGUST. YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE
PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED.
Act 1373
DATE OF Regular Mo Year To Date Future
EMP#RETIREMENT NAME Benefit Reg Benefit Supplement Fed Tax St Tax Net
79 11/99 ARMSTRONG (DILL), PAMELA 1,759.94 15,839.46 0.00 300.00 100.00 1,359.94
177 4/04 BACHMAN, EDDIE 2,542.28 22,880.52 450.00 479.27 119.82 1,943.19
74 3/86 BAIRD, JULIA 1,749.59 15,746.31 450.00 350.00 145.00 1,254.59
2 3/75 BLACKARD, PAUL 106.09 954.81 90.00 106.09
63 5172 BOLAIN, ANN 106.09 954.81 90.00 106.09
68 7/99 BONADUCE, MICHAEL 2,901.71 26,115.39 450.00 475.38 2,426.33
44 9/86 BOUDREY, BETTY MRS. 2,405.26 21,647.34 450.00 300.00 50.00 2,055.26
45 9/86 BOUDREY, HOWARD 2,028.43 18,255.87 450.00 2,028.43
49 7/88 BOUDREY, JACK 1,599.64 14,396.76 450.00 287.68 50.00 1,261.96
4 6/67 CARL, FLOYD JR, (Deceased 2/28/05) 0.00 212.18
5 5/72 CASELMAN, ARTHUR 127.31 1,145.79 90.00 127.31
57 5/90 CATE, ROY 1,736.80 15,631.20 450.00 1,736.80
6 4/68 CHRISTIE, ARNOLD 106.09 954.81 90.00 106.09
8 10116 COUNTS,WAYNE 106.09 954.81 90.00 106.09
77 11/99 DILL,GARY JOHN 1,759.95 15,839.55 450.00 100.00 1,659.95
11 2176 FARRAR,ALONZO 969.77 8,727.93 450.00 969.77
38 5/84 FRALEY, JOSEPH G. 1,716.62 15,449.58 450.00 200.00 15.00 1,501.62
170 5/03 FREEDLE, LARRY 3,705.58 33,350.22 450.00 500.00 100.00 3,105.58
92 03/02 GAGE,TOMMY 2,521.06 22,689.54 450.00 226.00 50.00 2,245.06
34 6/79 HARRIS, JAMES E. 106.09 954.81 90.00 106.09
70 11/99 HARRIS, MARY RUTH 106.09 954.81 90.00 106.09
182 10/04 JENKINS, EILEEN 1,736.65 15,629.85 0.00 350.00 100.00 1,286.65
93 06/02 JENKINS, JOHN 1,736.66 15,629.94 450.00 350.00 100.00 1,286.66
86 07/01 JOHNSON,ROBERT 2,983.95 26,855.55 450.00 500.00 100.00 2,383.95
64 4/95 JORDAN, CHARLIE 2,208.69 19,878.21 450.00 2,208.69
76 5/88 JUDY, JAN 1,599.64 14,396.76 450.00 200.00 50.00 1,349.64
37 3/84 KING, ARNOLD D. 1,478.03 13,302.27 450.00 300.00 47.00 1,131.03
54 5/89 KING, ARVIL 1,661.37 14,952.33 450.00 130.00 50.00 1,481.37
12 3/60 LANE, HOPE MRS 106.09 954.81 90.00 106.09
13 10/67 LAYER, MERLIN 442.93 3,986.37 450.00 442.93
173 12/03 LEDBETTER, DENNIS 3,665.83 32,992.47 450.00 650.00 200.00 2,815.83
181 10/04 LEE, VIOLA LOUISE 106.09 954.81 90.00 106.09
51 10/88 LEWIS, CHARLES 1,599.64 14,396.76 450.00 75.00 25.00 1,499.64
40 9/85 LOGUE, PAUL D. 2,784.74 25,062.66 450.00 325.00 75.00 2,384.74
50 9/88 MASON, LARRY 1,583.74 14,253.66 450.00 137.61 25.00 1,421.13
39 4/85 MC ARTHUR, RONALD A. 1,702.66 15,323.94 450.00 150.00 50.00 1,502.66
35 2/82 MC CHRISTIAN, DWAYNE 106.09 954.81 90.00 106.09
15 4117 MC WHORTER, CHARLES 1,295.64 11,660.76 450.00 150.00 1,145.64
29 8/81 MILLER, DONALD 1,266.09 11,394.81 450.00 125.00 25.00 1,116.09
73 2/00 MILLER,KENNETH 3,087.40 27,786.60 450.00 325.00 75.00 2,687.40
42 2/86 MOORE, JAMES H. 106.09 954.81 90.00 106.09
176 4/04 MORRIS, DIXIE E. 122.00 1,098.00 90.00 122.00
62 10/68 MORRISON, ELIENE 132.61 1,193.49 90.00 132.61
48 7/88 MULLENS, DENNIS W. 2,127.48 19,147.32 450.00 2,127.48
184 3/05 NAPIER, LONNIE 3,415.81 20,494.86 450.00 110.00 88.00 3,217.81
46 5/88 OSBURN, TROY 1,844.33 16,598.97 450.00 200.00 38.00 1,606.33
81 02/01 PHILLIPS,LARRY 2,684.55 24,160.95 450.00 2,684.55
53 2/89 POAGE, LARRY 2,278.35 20,505.15 450.00 300.00 100.00 1,878.35
186 06/05 REAGAN, PETE 3,432.73 10,298.19 450.00 3,432.73
22 4113 REED, JOE 106.09 954.81 90.00 106.09
172 12/03 SCHADER, MADGE 1,345.64 12,110.76 450.00 1,345.64
41 9/85 SCHADER, TROY 1,480.57 13,325.13 450.00 57.00 1,423.57
83 03/01 SKELTON, KIMBERLY 2,364.06 21,276.54 450.00 125.00 25.00 2,214.06
66 8/98 SKELTON, PAULINE 413.75 3,723.75 450.00 413.75
82 03/01 SKELTON,KELLY 0.00 9,456.24 450.00 0.00 0.00 0.00
36 5/76 SPRINGSTON, CARL 782.71 7,044.39 450.00 70.00 17.00 695.71
90 03/02 STOUT, IMOGENE W. 745.44 6,708.96 450.00 745.44
165 12/02 TATE, RALPH 3,561.26 32,051.34 450.00 300.00 100.00 3,161.26
65 3/66 TUNE, BILLIE SUE 132.61 1,193.49 90.00 132.61
27 3/71 TUNE, MILDRED MRS. 132.61 1,193.49 90.00 132.61
71 1/00 WARFORD,THOMAS 2,429.83 21,868.47 450.00 300.00 2,129.83
28 7/68 WATTS, DONALD 424.36 3,819.24 450.00 424.36
DATE OF Regular Mo Year To Date Future
EMP#RETIREMENT NAME Benefit Reg Benefit Supplement Fed Tax St Tax Net
88 01/02 WOOD,RONNIE D 2,987.52 26,887.68 450.00 800.00 200.00 1,987.52
52 9/88 WRIGHT, RANDALL 1,642.08 14,778.72 450.00 200.00 25.00 1,417.08
94,004.89 824,868.62 21,690.00 9,447.94 2,144.82 82,412.13
DROP DATE DROP EMPLOYEES NEW BENEFITS
01/01/01 DOSS,MARION 5,220.30 450.00
03/01/03 MAHAN, MARSHALL 3,958.53 450.00
03/01/03 PIERCE, JOEY 3,540.95 450.00
03/01/03 SHACKLEFORD, GLEN 3,540.95 450.00
04/01/03 O'NEAL, TEDDY 4,000.96 450.00
05/01/04 FARRAR, DANNY 4,034.33 450.00
WE, THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE
JUST AND CORRECT; THAT NO PART THEREOF HAS BEEN PREVIOUSLY PAID; THAT
THE PENSION PAYMENTS SO CHARGED ARE IN ACCORDANCE WITH THE ACTIONS OF
THE BOARD OF TRUSTEES OF THE FIREMEN'S RELIEF AND PENSION FUND; THAT
THE SERVICES OR SUPPLIES FURNISHED, AS THE CASE MAY BE,WERE ACTUALLY
RENDERED OR FURNISHED; AND THAT THE CHARGES MADE THEREFORE DO NOT
EXCEED THE AMOUNT ALLOWED BY LAW OR THE CUSTOMARY CHARGE FOR SIMILAR
SERVICES OR SUPPLIES
SECRETARY CHAIRMAN AND PRESIDENT
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF 2005.
NOTARY PUBLIC
MY COMMISSION EXPIRES :
YTD
6810-810-5335-00 838,572.47
6810-9810-5335-06 24,390.00
YTD Column 846,558.62
Difference 16,403.85
FIREMEN'S RELIEF AND PENSION
October 2005
THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE
MONTH OF AUGUST. YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE
PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED.
Act 1373
DATE OF Regular Mo Year To Date Future
EMP#RETIREMENT NAME Benefit Reg Benefit Supplement Fed Tax St Tax Net
79 11/99 ARMSTRONG (DILL), PAMELA 1,759.94 17,599.40 0.00 300.00 100.00 1,359.94
177 4/04 BACHMAN, EDDIE 2,542.28 25,422.80 450.00 479.27 119.82 1,943.19
74 3/86 BAIRD, JULIA 1,749.59 17,495.90 450.00 350.00 145.00 1,254.59
2 3/75 BLACKARD, PAUL 106.09 1,060.90 90.00 106.09
63 5172 BOLAIN, ANN 106.09 1,060.90 90.00 106.09
68 7/99 BONADUCE, MICHAEL 2,901.71 29,017.10 450.00 475.38 2,426.33
44 9/86 BOUDREY, BETTY MRS. 2,405.26 24,052.60 450.00 300.00 50.00 2,055.26
45 9/86 BOUDREY, HOWARD 2,028.43 20,284.30 450.00 2,028.43
49 7/88 BOUDREY, JACK 1,599.64 15,996.40 450.00 287.68 50.00 1,261.96
4 6/67 CARL, FLOYD JR, (Deceased 2/28/05) 0.00 212.18
5 5/72 CASELMAN, ARTHUR 127.31 1,273.10 90.00 127.31
57 5/90 GATE, ROY 1,736.80 17,368.00 450.00 1,736.80
6 4/68 CHRISTIE, ARNOLD 106.09 1,060.90 90.00 106.09
8 10/76 COUNTS, WAYNE 106.09 1,060.90 90.00 106.09
77 11/99 DILL,GARY JOHN 1,759.95 17,599.50 450.00 100.00 1,659.95
11 2/76 FARRAR,ALONZO 969.77 9,697.70 450.00 969.77
38 5/84 FRALEY, JOSEPH G. 1,716.62 17,166.20 450.00 200.00 15.00 1,501.62
170 5/03 FREEDLE, LARRY 3,705.58 37,055.80 450.00 500.00 100.00 3,105.58
92 03/02 GAGE,TOMMY 2,521.06 25,210.60 450.00 226.00 50.00 2,245.06
34 6/79 HARRIS, JAMES E. 106.09 1,060.90 90.00 106.09
70 11/99 HARRIS, MARY RUTH 106.09 1,060.90 90.00 106.09
182 10/04 JENKINS, EILEEN 1,736.65 17,366.50 0.00 350.00 100.00 1,286.65
93 06/02 JENKINS, JOHN 1,736.66 17,366.60 450.00 350.00 100.00 1,286.66
86 07/01 JOHNSON,ROBERT 2,983.95 29,839.50 450.00 500.00 100.00 2,383.95
64 4/95 JORDAN, CHARLIE 2,208.69 22,086.90 450.00 2,208.69
76 5/88 JUDY, JAN 1,599.64 15,996.40 450.00 200.00 50.00 1,349.64
37 3/84 KING, ARNOLD D. 1,478.03 14,780.30 450.00 300.00 47.00 1,131.03
54 5/89 KING,ARVIL 1,661.37 16,613.70 450.00 130.00 50.00 1,481.37
12 3/60 LANE, HOPE MRS 106.09 1,060.90 90.00 106.09
13 10/67 LAYER, MERLIN 442.93 4,429.30 450.00 442.93
173 12/03 LEDBETTER, DENNIS 3,665.83 36,658.30 450.00 650.00 200.00 2,815.83
181 10/04 LEE, VIOLA LOUISE 106.09 1,060.90 90.00 106.09
51 10/88 LEWIS, CHARLES 1,599.64 15,996.40 450.00 75.00 25.00 1,499.64
40 9/85 LOGUE, PAUL D. 2,784.74 27,847.40 450.00 325.00 75.00 2,384.74
50 9/88 MASON, LARRY 1,583.74 15,837.40 450.00 137.61 25.00 1,421.13
39 4/85 MC ARTHUR, RONALD A. 1,702.66 17,026.60 450.00 150.00 50.00 1,502.66
35 2/82 MC CHRISTIAN, DWAYNE 106.09 1,060.90 90.00 106.09
15 4/77 MC WHORTER, CHARLES 1,295.64 12,956.40 450.00 150.00 1,145.64
29 8/81 MILLER, DONALD 1,266.09 12,660.90 450.00 125.00 25.00 1,116.09
73 2/00 MILLER,KENNETH 3,087.40 30,874.00 450.00 325.00 75.00 2,687.40
42 2/86 MOORE, JAMES H. 106.09 1,060.90 90.00 106.09
176 4/04 MORRIS, DIXIE E. 122.00 1,220.00 90.00 122.00
62 10/68 MORRISON, ELIENE 132.61 1,326.10 90.00 132.61
48 7/88 MULLENS, DENNIS W. 2,127.48 21,274.80 450.00 2,127.48
184 3/05 NAPIER, LONNIE 3,415.81 20,494.86 450.00 110.00 88.00 3,217.81
46 5/88 OSBURN, TROY 1,844.33 18,443.30 450.00 200.00 38.00 1,606.33
81 02/01 PHILLIPS,LARRY 2,684.55 26,845.50 450.00 2,684.55
53 2/89 POAGE, LARRY 2,278.35 22,783.50 450.00 300.00 100.00 1,878.35
186 06/05 REAGAN, PETE 3,432.73 10,298.19 450.00 3,432.73
22 4/73 REED, JOE 106.09 1,060.90 90.00 106.09
172 12/03 SCHAD,ER, MADGE 1,345.64 13,456.40 450.00 1,345.64
41 9/85 SCHADER, TROY 1,480.57 14,805.70 450.00 57.00 1,423.57
83 03/01 SKELTON, KIMBERLY 2,364.06 23,640.60 450.00 125.00 25.00 2,214.06
66 8/98 SKELTON, PAULINE 413.75 4,137.50 450.00 413.75
82 03/01 SKELTON,KELLY Terminated Benefits 8/31/05 0.00 9,456.24 450.00 0.00 0.00 0.00
36 5/76 SPRINGSTON, CARL 782.71 7,827.10 450.00 70.00 17.00 695.71
90 03/02 STOUT, IMOGENE W. 745.44 7,454.40 450.00 745.44
165 12/02 TATE, RALPH 3,561.26 35,612.60 450.00 300.00 100.00 3,161.26
65 3/66 TUNE, BILLIE SUE 132.61 1,326.10 90.00 132.61
27 3/71 TUNE, MILDRED MRS. 132.61 1,326.10 90.00 132.61
71 1/00 WARFORD,THOMAS 2,429.83 24,298.30 450.00 300.00 2,129.83
28 7168 WATTS, DONALD 424.36 4,243.60 450.00 424.36
DATE OF Regular Mo Year To Date Future
EMP#RETIREMENT NAME Benefit Reg Benefit Supplement Fed Tax St Tax Net
88 01/02 WOOD,RONNIE D 2,987.52 29,875.20 450.00 800.00 200.00 1,987.52
52 9/88 WRIGHT, RANDALL 1,642.08 16,420.80 450.00 200.0025.00 1,417.08
94,004.89 912,024.97 21,690.00 9,447.94 2,144.82 82,412.13
DROP DATE DROP EMPLOYEES NEW BENEFITS
01/01/01 DOSS,MARION 5,220.30 450.00
03/01/03 MAHAN, MARSHALL 3,958.53 450.00
03/01/03 PIERCE, JOEY 3,540.95 450.00
03/01/03 SHACKLEFORD, GLEN 3,540.95 450.00
04/01/03 O'NEAL, TEDDY 4,000.96 450.00
05/01/04 FARRAR, DANNY 4,034.33 450.00
WE, THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE
JUST AND CORRECT; THAT NO PART THEREOF HAS BEEN PREVIOUSLY PAID; THAT
THE PENSION PAYMENTS SO CHARGED ARE IN ACCORDANCE WITH THE ACTIONS OF
THE BOARD OF TRUSTEES OF THE FIREMEN'S RELIEF AND PENSION FUND; THAT
THE SERVICES OR SUPPLIES FURNISHED,AS THE CASE MAY BE, WERE ACTUALLY
RENDERED OR FURNISHED;AND THAT THE CHARGES MADE THEREFORE DO NOT
EXCEED THE AMOUNT ALLOWED BY LAW OR THE CUSTOMARY CHARGE FOR SIMILAR
SERVICES OR SUPPLIES
SECRETARY CHAIRMAN AND PRESIDENT
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF_ 2005.
NOTARY PUBLIC
MY COMMISSION EXPIRES :
YTD
68109810-5335-00 721,407.49
6810-9810-5335-06
YTD Column 721,407.49
Difference 0.00
City of Fayetteville
Fire Pension and Relief Fund U/A Dated 6/18/86
July 31, 2005 Equity Allocation: 54.5%
Equity Range Per Policy: 25% to 50% (+/-5% with monthly approval)
Longer Investments Inc. requests authorization for the variance of less than 5%, as
required in the investment policy dated February 24, 2005.
RECEIVE®
AUG 2 9 2005
CIN OF FAYETTEVILLE
VSMAh'RCIN CLERK'S OFFICE
Office of the Registrar 146 Silas H. Hunt Hail
School Code: 001108 Fayetteville, AR 72701
(479)575-5451
Enrollment Verification as of 8/23/2005
Kimberly Skelton ID Nbr: 004933941
2425 W Newport Dr Apt 7
Fayetteville, AR 72703-1268
United States
Current Program of Study
Level Major
Undergraduate Walton College of Business
Major Degree Declare Dt Concentration
Undeclared Undergraduate (WCOB) 08/25/2003
Pre-Business (Undeclared) 08/25/2003
Enrollment History
Term Level Begin Date End Date Units Status
Fall 2005 UGRD 08/22/2005 12/14/2005 15 . 00 Full-Time
Seal Office of the Registrar
This certificate is valid only when signed by an authorized offical of the Office of the
Registrar and the certificate is embossed with the seal of the Registrar.
Page 1 of 1
Sondra Smith - Kelly Skelton September Pension Page 1
From: Wendy Moore
To: Smith, Sondra
Date: 8/25/05 4:26PM
Subject: Kelly Skelton September Pension
I spoke to Kelly Skelton on 8/25/05. She advised me that she is only enrolled in 8 hours of school. She is
aware that her portion of her Sept and Oct pension will most likely be given to her sister Kimberly
providing that she is enrolled in school full time. I was informed of this after the Pension meeting today so
the Pension Board is not aware of this information. My question would be do you need to get with them
before we send out checks for September for approval of the change? I will be cutting checks for the Fire
Pension on Sept 8 and both Kelly and Kimberly are Direct Deposit so I will have to change the amounts if
that is the decision of the Pension Board.
We have also finally received the 2005 Future Supplement Fund Distribution for Fire. Our records
indicate that Kelly should get the $450.00 and will need to verify this as our amounts do not match the
amount sent to us by the state, so we have requested information from them clarifying the breakdown.
Please let me know by Sept 7 as to which way the board wants me to issue the Sept Pension check.
Thanks
Wendy Moore
City of Fayetteville
Accounts Receivable Clerk
575-8275
CC: Leach, Patricia
September 1, 2005
Ms. Kelly Skelton
PO Box 8044
Fayetteville, AR 72703
Dear Kelly,
I have not received your Proof of Enrollment for the Fall Semester of 2005. We will not be able
to process your September Pension check without a copy of your Proof of Enrollment.
If I do not have your Proof of Enrollment before September 7, 2005 you will not receive a check
for the month of September. Please forward the documents to the City Clerk's Office, 113 W.
Mountain, Fayetteville, AR. 72701 before September 7, 2005 in order to receive your Pension
check for the month of September. You will not receive any more notices regarding this issue.
If you have any questions, please feel free to call the City Clerk's Office at 575-8323.
Sincerely,
Sondra Smith
Firemen's Pension and Relief Fund
Board of Trustees
Secretary
City Clerk /Treasurer
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ARKANSAS FIRE & POLICE PENSION REVIEW BOARD
P.O. Box 34164
Lmu ROCK, ARKANSAS 72203
TELEPHONE: (501) 682 - 1745
FAx: (501) 682 - 1751
email:info@lopfi-prb.com
website: www lopfi prb.com
To: Local FIRE Pension Fund Board of Trustees
From: Arkansas Fire and Police Pension Review Board (PRB)
Re: 2005 Future Supplement Fund Distribution
Date: July 2005
Enclosed is your Future Supplement Fund distribution for your ME pension fund
mailed from the Department of Finance and Administration. The distribution amount is
in accordance with Act 1373 of 2003. The amounts listed below are to be distributed
equally to each retiree, beneficiary, and DROP participant as of December 31, 2004. The `
effective date of the distribution is July 1, 2005.
It is important to realize the amount available for distribution in futureyears may vary. It 4
may increase or decrease; therefore, for ease of administering this supplement we are
recommending a single one-time payment be made to each eligible participant.
The total amount to be distributed to each paid fire retiree is: $ 450.00
The total amount to be distributed to each volunteer retiree is: $ 90.00
In the event one or more of your eligible participants has deceased, place that person(s)
distribution amount into the pension fund. This method will ensure each eligible person
receives the correct amount.
Should you have questions please contact Robert Bartholmey or Denise Reed at 1-866-
859-1745, or in the Little Rock area 682-1745. Thank you.
04)
V� t
layve e;ii14e
113 West Mountain
ARKANSAS Fayetteville, AR 72701
Telephone: (479) 575-8323
Fax: (479) 718-7695
city_clerk@ci.fayetteville.ar.us
City Clerk/Treasurer Division
To: Fire Pension Recipients
From: Sondra Smith, City Clerk/Treasurer
Date: September 1, 2005
Re: 2005 Future Supplemental Benefit
The 2005 Future Supplemental Benefit has been added to your September check in a lump sum
distribution amount. The distribution amount is in accordance with Act 1373 of 2003.
The total lump sum amount for each Paid Fire Retiree is $450.00.
The total lump sum amount for each Volunteer Retiree is $90.00.
Again this is a lump sum distribution that has been added to your September check only.
Your October check will be the normal benefit amount.
If you have any questions, please feel free to contact me at 575-8323.
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ARKANSAS FIRE & POLICE PENSION REVIEW BOARD
620 W. 3rd, Suite 200
Little Rock, Arkansas 72201-2212
To: Local Pension Fund Board of Trustees Toll-FTelephone: (501) 682-1745
Free: (866) 859-1745
From: Arkansas Eire and Police-Pension Review Board (PR B)
Fax: (501) 682-1751
email: info@lopfi-prb.com
Re: Act 1921 of 2005 website: www.lopfi-prb.com
Date: August 25, 2005
This memo is a reminder regarding the proper implementation of the provisions of Act
1921 of 2005. The act requires that a $100 minimum monthly benefit will apply to
survivors of local volunteer fire pension hinds. Any survivor that is currently receiving a
benefit in an amount less than $100/month will have their monthly benefit raised to this
new amount with the September 1, 2005 benefit payment.
To assist you with the correct implementation of this act we have enclosed a list of
survivors for your pension hind that our records indicate will have their benefit raised.
The data used for the list was compiled from the December 31, 2004 financial disclosure
report that your fund filed with the PR Bl . The list reflects the current monthly benefit
amount and the amount effective with the September 1St monthly benefit payment.
Implementing this increase as described will help you in completing the December 31,
2005 financial disclosure report.
Should you have questions please feel free to contact'Denise Reed for assistance. Thank
you:
RECEIVED
AUG 2 9 2t
CITY OF FAYETTEVILLE
CITY CLERK'S OFFICE
Fayetteville
Volunteer or Part Paid Firefighters
Listing as of 12/31/2004 of ONLY Surviving Spouses
Benefit Option: 1-Service Retirement, 2-Disability, 3-Survivor Benefit,
4-Surviving Children, 5-QDRO Alt. Payee, 7-Age 60 Bonus
Date of Date of Benefit Regular.Monthly Monthly Benefit
Name Sex Birth Retirement Option Benefit beginning 9/1/2005
BOLAIN A 2 12 / 1925 5 / 1972 3 100.00 100.00
HARRIS M 2 3 / 1934 5 / 1980 3 55.00 100.00
LANE H 2 1 / 1919 3 / 1960 3 55.00 100.00
LEE V 2 9 / 1926 7 / 1974 3 103.00 103.00
MORRIS D 2 11 / 1918 4 / 1964 3 103.00 103.00
MORRISON E 2 2 / 1916 0 / 0 3 80.00 100.00
TUNE B 2 '11 / 1924 3 / 1966 3 80.00 100.00
TUNE M 2 2 / 1915 3 / 1971 3 80.00 100.00
Longer Investments Inc.
PORTFOLIO APPRAISAL
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
August 31, 2005
Unit Total Market Pct. Unit Annual Cur.
Quantity Security Cost Cost Price Value Assets Income Income Yield
COMMON STOCK
1,450 Anadarko Petroleum 59.37 86,081.15 90.87 131,761.50 1.4 0.720 1,044.00 1.2
Corp.
6,000 Applied Materials Inc. 16.94 101,633.70 18.32 109,920.00 1.2 0.120 720.00 0.7
2,000 B.P. Amoco PLC A.D.S. 39.64 79,285.00 68.38 136,760.00 1.5 1.870 3,740.00 4.7
2,750 Barclays PLC 39.80 109,462.93 40.30 110,825.00 1.2 1.830 5,032.50 4.6
3,350 Bell South 27.14 90,919.00 26.29 88,071.50 0.9 1.160 3,886.00 4.3
2,250 Biomet, Inc. 35.63 80,170.88 36.89 83,002.50 0.9 0.200 450.00 0.6
2,750 Caterpillar hic. 46.46 127,756.70 55.49 152,597.50 1.6 1.000 2,750.00 2.2
2,250 Chevron Corp. 38.26 86,084.01 61.40 138,150.00 1.5 1.800 4,050.00 4.7
5,500 Cisco Systems Inc. 19.55 107,531.60 17.62 96,910.00 1.0 0.000 0.00 0.0
3,500 Citigroup 41.09 143,827.09 43.77 153,195.00 1.6 1.760 6,160.00 4.3
4,000 Citrix Systems 23.79 95,179.60 23.80 95,200.00 1.0 0.000 0.00 0.0
2,500 Danaher Corp. 53.34 133,355.66 53.56 133,900.00 1.4 0.060 150.00 0.1
3,000 Ecolab Inc. 28.57 85,702.26 33.00 99,000.00 1.1 0.350 1,050.00 1.2
2,000 Emerson Electric 48.02 96,050.00 67.28 134,560.00 1.4 1.660 3,320.00 3.5
2,525 Estee Lauder 37.78 95,406.12 40.39 101,984.75 1.1 0.400 1,010.00 1.1
1,900 ExxonMobil 34.41 65,369.76 59.90 113,810.00 1.2 1.160 2,204.00 3.4
5,750 General Electric 24.34 139,982.00 33.61 193,257.50 2.1 0.880 5,060.00 3.6
1,500 Goldman Sachs Group 100.03 150,050.13 111.18 166,770.00 1.8 1.000 1,500.00 1.0
Inc.
1,000 Illinois Tool Works 86.22 86,220.00 84.28 84,280.00 0.9 1.320 1,320.00 1.5
5,425 Intel Corp. 18.85 102,243.27 25.72 139,531.00 1.5 0.320 1,736.00 1.7
3,000 Johnson &Johnson 52.08 156,250.18 63.39 190,170.00 2.0 1.320 3,960.00 2.5
2,000 Kennametal, Inc. 46.21 92,421.10 46.64 93,280.00 1.0 0.760 1,520.00 1.6
4,000 Knight Transportation 24.37 97,483.20 23.69 94,760.00 1.0 0.080 320.00 0.3
Inc.
5,000 Microsoft Corp. 26.45 132,241.53 27.38 136,900.00 1.5 0.320 1,600.00 1.2
9,750 Oracle Systems 13.62 132,749.50 12.99 126,652.50 1.3 0.000 0.00 0.0
2,500 Paychex, Inc. 34.71 86,785.75 34.13 85,325.00 0.9 0.640 1,600.00 1.8
3,600 Pfizer 26.88 96,785.64 25.48 91,728.00 1.0 0.760 2,736.00 2.8
3,030 Qlogic Corp. 34.46 104,401.03 34.56 104,716.80 1.1 0.000 0.00 0.0
4,325 Robert Half International 29.51 127,627.35 33.68 145,666.00 1.5 0.280 1,211.00 0.9
3,500 Sherwin Williams Co. 47.04 164,655.90 46.36 162,260.00 1.7 0.820 2,870.00 1.7
2,400 Sigma-Aldrich 58.26 139,827.18 62.40 149,760.00 1.6 0.760 1,824.00 1.3
8,150 The Technology Sel Sec 20.71 168,793.17 20.85 169,927.50 1.8 0.000 0.00 0.0
SPDR Fund
3,650 US Bancorp 30.42 111,020.08 29.22 106,653.00 1.1 1.200 4,380.00 3.9
1,500 Walmart Stores 52.26 78,390.00 44.96 67,440.00 0.7 0.600 900.00 1.1
3,751,742.46 4,188,725.05 44.5 68,103.50 1.9
PREFERRED DEBT SECURITIES
2,000 G.E. Preferred 6.10% 25.00 50,000.00 25.79 51,580.00 0.5 1.525 3,050.00 6.1
AAA/AAA(C 11-15-07)
5,000 G.E. Preferred 6.625% 26.01 130,030.00 26.34 131,700.00 1.4 1.656 8,281.25 6.4
AAA/AAA(C 6-28-07)
3,000 Roch G&E 6.65% 26.30 78,893.10 26.50 79,500.00 0.8 1.662 4,987.50 6.3
AAA/AAA (C 6-20-07)
AMBAC
258,923.10 262,780.00 2.8 16,318.75 6.3
1
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
Longer Investments Inc.
PORTFOLIO APPRAISAL
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
August 31, 2005
Unit Total Market Pct. Unit Annual Cur.
Quantity Security Cost Cost Price Value Assets Income Income Yield
MUTUAL FUNDS-EQUITY
20,000.0000 iShares MSCI Japan 10.14 202,750.00 11.13 222,600.00 2.4 0.043 860.00 0.4
Index Fund
202,750.00 222,600.00 2.4 860.00 0.4
CORPORATE BONDS
15,000 Gillette Company Notes 99.78 14,967.00 100.16 15,024.48 0.2 5.750 862.50 5.8
Aa3/AA- (NC)
5.750% Due 10-15-05
75,000 Wal-Mart Stores Inc. 98.44 73,831.00 100.24 75,177.98 0.8 5.875 4,406.25 6.0
AA2/AA(NC)
5.875% Due 10-15-05
50,000 Boeing Capital Crp 100.00 50,000.00 100.37 50,185.55 0.5 6.040 3,020.00 6.0
ANA(NC)
6.040% Due 11-15-05
50,000 NationsBank Corp. . 99.79 49,894.00 104.79 52,396.55 0.6 6.375 3,187.50 6.4
Subordinated Notes
AA3/A+ (NC)
6.375% Due 02-15-08
65,000 J.P. Morgan Chase 102.60 66,687.00 106.62 69,302.35 0.7 6.700 4,355.00 6.5
Bank AA3/A+ (NC)
6.700% Due 08-15-08
50,000 Bankers Trust NY Corp 99.26 49,630.00 104.75 52,376.00 0.6 6.000 3,000.00 6.0
Subordinated Notes
A2/A(NC)
6.000% Due 10-15-08
25,000 First Union Corp. 93.78 23,446.00 105.71 26,428.18 0.3 6.000 1,500.00 6.4
Subordinated
Debentures Al/A(NC)
6.000% Due 10-30-08
25,000 Pepsico Incorporated 97.49 24,373.00 104.86 26,215.70 0.3 5.700 1,425.00 5.8
Medium Term Note
Al/A+ (NC)
5.700% Due 11-01-08
50,000 Hershey Foods Corp. 97.63 48,816.00 115.04 57,520.30 0.6 6.950 3,475.00 7.1
Notes Al/A+ (NC)
6.950% Due 08-15-12
50,000 Paribas New York 96.03 48,014.00 114.32 57,157.65 0.6 6.950 3,475.00 7.2
Branch Subordinated
Notes AA3/AA-(NC)
6.950% Due 07-22-13
60,000 Aetna Inc. Debentures 87.48 52,487.00 113.27 67,962.96 0.7 6.750 4,050.00 7.7
AA3/AA- (NC)
6.750% Due 09-15-13
75,000 Merrill Lynch&Co. 99.26 74,442.00 114.60 85,948.72 0.9 6.500 4,875.00 6.5
Inc. Global Bonds
AA3/A+(NC)
6.500% Due 07-15-18
50,000 National City Corp. 96.65 48,326.00 118.98 59,488.85 0.6 6.875 3,437.50 7.1
Sub. Notes A2/A- (NC)
6.875% Due 05-15-19
2
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
Longer Investments Inc.
PORTFOLIO APPRAISAL
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
August 31, 2005
Unit Total Market Pct. Unit Annual Cur.
Quantity Security Cost Cost Price Value Assets Income Income Yield
50,000 IBM Corp. Debentures 100.01 50,004.00 123.02 61,509.45 0.7 7.000 3,500.00 7.0
Al/A+ (Subject to make
whole call)
7.000% Due 10-30-25
50,000 Dell Computer Corp. 95.46 47,731.00 125.71 62,852.95 0.7 7.100 3,550.00 7.4
Debentures A2/A
(Subject to make whole
call)
7.100% Due 04-15-28
Accrued Interest 12,367.78 0.1
722,648.00 831,915.46 8.8 48,118.75 6.7
GOVERNMENT BONDS
200,000 U. S. Treasury Note 100.08 200,162.53 100.53 201,062.50 2.1 4.000 8,000.00 4.0
4.000% Due 06-15-09
50,000 U. S. Treasury Bond 100.01 50,004.00 117.19 58,593.75 0.6 5.500 2,750.00 5.5
5.500% Due 08-15-28
50,000 U. S. Treasury Bond 98.95 49,474.00 113.62 56,812.50 0.6 5.250 2,625.00 5.3
5.250% Due 11-15-28
300,000 U. S. Treasury Bond 98.03 294,097.66 113.78 341,343.75 3.6 5.250 15,750.00 5.4
5.250% Due 02-15-29
Accrued Interest 3,257.79 0.0
593,738.19 661,070.29 7.0 29,125.00 4.9
GOVERNMENT AGENCY
100,000 Federal Farm Credit 100.00 100,000.00 99.22 99,218.75 1.1 3.580 3,580.00 3.6
Bank (C 6-15-05, 1X)
3.580% Due 06-15-07
250,000 Fed Nat'l Mortgage 100.00 250,000.00 99.84 249,609.37 2.7 4.150 10,375.00 4.1
Assoc (C 7-13-06 @
100, 1X)
4.150% Due 07-13-07
75,000 Federal Home Loan 100.00 75,000.00 99.31 74,484.37 0.8 4.010 3,007.50 4.0
Bank(C 5-24-06, 1X)
4.010% Due 08-24-07
100,000 Federal Home Loan 100.00 100,000.00 97.97 97,968.75 1.0 3.000 3,000.00 3.0
Bank(C 09-07-05, 1X)
3.000% Due 09-07-07
185,000 Federal Home Loan 100.00 185,000.00 99.44 183,959.37 2.0 4.000 7,400.00 4.0
Bank(C 6-28-06 @
100, IX)
4.000% Due 09-28-07
100,000 Federal Home Loan 100.00 100,000.00 100.00 100,000.00 1.1 4.400 4,400.00 4.4
Bank (C 9-28-06 @
100, IX)
4.400% Due 09-28-07
100,000 Federal Farm Credit 100.00 100,000.00 97.69 97,687.50 1.0 3.020 3,020.00 3.0
Bank(C 1X 03/24/05)
3.020% Due 12-24-07
75,000 Federal Home Loan 100.00 75,000.00 97.66 73,242.19 0.8 3.300 2,475.00 3.3
Bank(C 1-17-06, 1X)
3.300% Due 01-17-08
3
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
Longer Investments Inc.
PORTFOLIO APPRAISAL
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
August 31, 2005
Unit Total Market Pct. Unit Annual Cur.
Quantity Security Cost Cost Price Value Assets Income Income Yield
250,000 Federal Farm Credit 100.00 250,000.00 97.06 242,656.25 2.6 3.080 7,700.00 3.1
Bank(C 1X 04-15-05)
3.080% Due 10-15-08
225,000 Federal Farm Credit 100.00 225,000.00 99.16 223,101.56 2.4 4.000 9,000.00 4.0
Bank (C 10-3-05,
continuously thereafter)
4.000% Due 12-29-08
125,000 Federal Farm Credit 100.00 125,000.00 100.66 125,820.31 1.3 4.350 5,437.50 4.3
Bank(NC)
4.350% Due 06-01-09
225,000 Federal Home Loan 100.00 225,000.00 98.56 221,765.62 2.4 4.000 9,000.00 4.0
Bank(C 10-3-05,
continuously thereafter)
4.000% Due 04-01-10
200,000 Federal Home Loan 100.00 200,000.00 99.03 198,062.50 2.1 4.200 8,400.00 4.2
Bank(C 10-3-05,
continuously thereafter)
4.200% Due 05-20-10
50,000 Tennessee Valley 98.95 49,474.00 106.91 53,453.35 0.6 5.625 2,812.50 5.7
Authority(NC)
5.625% Due 01-18-11
150,000 Federal Farm Credit 100.00 150,000.00 98.50 147,750.00 1.6 4.150 6,225.00 4.1
Bank(Call 04-07-06,
continuously thereafter)
4.150% Due 04-07-11
55,556 Federal Home Loan 100.00 55,555.56 99.87 55,486.12 0.6 5.080 2,822.22 5.1
Bank (C 10-3-05,
continuously thereafter)
5.080% Due 10-03-12
75,000 Federal Home Loan 100.00 75,000.00 100.19 75,140.62 0.8 5.375 4,031.25 5.4
Bank(C 11-7-05,cc)
5.375% Due 11-07-13
125,000 Federal Farm Credit 100.00 125,000.00 99.53 124,414.06 1.3 5.300 6,625.00 5.3
Bank(C 6-22-07 @
100,continuously
thereafter)
5.300% Due 06-22-15
Accrued Interest 25,771.49 0.3
2,465,029.56 2,469,592.20 26.2 99,310.97 4.0
GNMA
12,583.33 GNMA 5.0% Pool# 99.75 12,552.24 98.86 12,440.38 0.1 5.000 629.17 5.0
GNR 2003-40 AE
5.000% Due 05-20-33
Accrued Interest 52.43 0.0
12,552.24 12,492.81 0.1 629.17 5.0
CASH AND EQUIVALENTS
Dividends Accrued 11,939.77 11,939.77 0.1 0.000 0.00 0.0
Money Market 659,790.93 659,790.93 7.0 2.840 18,738.06 2.8
671,730.70 671,730.70 7.1 18,738.06 2.8
4
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
Longer Investments Inc.
PORTFOLIO APPRAISAL
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
August 31, 2005
Unit Total Market Pct. Unit Annual Cur.
Quantity Security Cost Cost Price Value Assets Income Income Yield
CERTIFICATE OF DEPOSIT
50,000 MBNA America Bank 100.00 50,000.00 100.55 50,276.50 0.5 6.550 3,275.00 6.5
Newark, DE A3/NR
(NC)FDIC-Insured
6.550% Due 12-20-05
40,000 Capital One Bank FSB 100.00 40,000.00 100.63 40,252.76 0.4 4.900 1,960.00 4.9
Falls Church, VA
BAAI/NR(NC)
FDIC-Insured
4.900% Due 02-20-07
Accrued Interest 705.79 0.0
90,000.00 91,235.05 1.0 5,235.00 5.8
WARRANTS
144 Lucent Warrants (Expire 1.59 228.96 0.83 119.52 0.0 0.000 0.00 0.0
12/10/2007)
228.96 119.52 0.0 0.00 0.0
TOTAL PORTFOLIO 8,769,343.22 9,412,261.08 100.0 286,439.20 3.3
5
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
Longer Investments Inc.
CONTRIBUTIONS/WITHDRAWALS
City of Fayetteville Fire Pension and Relief Fund
08-15-02 To 08-31-05
CONTRIBUTIONS
09-10-03 Money Market $350,000.00
08-04-04 Money Market $127,000.00
$477,000.00
WITHDRAWALS
10-09-02 Money Market $40,000.00
12-12-02 Money Market $9,000.00
12-18-02 Money Market $150,000.00
01-08-03 Money Market $73,000.00
02-15-03 Money Market $51,000.00
03-04-03 Money Market $66,000.00
04-01-03 Money Market $6000.00
05-01-03 Money Market $66,000.00
06-03-03 Money Market $245,000.00
07-01-03 Money Market $30,000.00
08-01-03 Money Market $65,000.00
10-01-03 Money Market $75,000.00
11-03-03 Money Market $20,000.00
01-06-04 Money Market $24,000.00
01-22-04 Money Market $216,000.00
02-09-04 Money Market $76,000.00
03-01-04 Money Market $66,000.00
04-01-04 Money Market $75,000.00
05-03-04 Money Market $60,000.00
05-19-04 Money Market $88,000.00
06-02-04 Money Market $80,000.00
07-01-04 Money Market $70,000.00
07-29-04 Money Market $15,000.00
08-11-04 Money Market $15,000.00
09-08-04 Money Market $80,000.00
10-04-04 Money Market $60,000.00
12-08-04 Money Market $1000.00
01-03-05 Money Market $65,000.00
02-01-05 Money Market $74,000.00
03-01-05 Money Market $8000.00
04-01-05 Money Market $90,000.00
04-14-05 Money Market $217,000.00
05-01-05 Money Market $55,000.00
06-09-05 Money Market $35,000.00
07-06-05 Money Market $280,000.00
08-01-05 Money Market $95,000.00
$2,876,000.00
6
LONGER INVESTMENTS INCORPORATED
A Registered bivestment Advisor