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HomeMy WebLinkAbout2014-07-31 - Agendas - FinalFayetteville Fireman's Pension and Relief Fund Meeting Date Adjourn Time 3 I" 3o M• Subject: Motion By: 046 Seconded: — Roy Cate ✓ Mayor Jordan ✓ Dennis Mullens ✓ Pete Reagan ✓ Sondra Smith ✓ Ronnie Wood Subject: M ; ",v& ) q -a y-, y Motion By: 046 Seconded: Gt Roy Cate / Mayor Jordan ✓ Dennis Mullens ✓ Pete Reagan ✓ Sondra Smith ✓ Ronnie Wood Subject: I Kir," > Woabq Motion By: (� W464 JUA Seconded: Gt Roy Cate ✓ Mayor Jordan ✓ Dennis Mullens ✓ Pete Reagan ✓ Sondra Smith Ronnie Wood Subject:nn (� W464 JUA Motion B a Seconded: Roy Cate ✓ Mayor Jordan ✓ Dennis Mullens Pete Reagan Sondra Smith Ronnie Wood Fayetteville Fireman's Pension and Relief Fund Meeting Date 7'31-W Adjourn Time 3; �p Pm. Subject: Motion B Seconded: R Roy Cate ✓ Jordan ✓s Mullenseagan L Smith Wood ,Leat/ Cate Mayor Jordan Dennis Mullens Sondra Smith Ronnie Wood Cate x Jordan (Dennis Mullens 1 I Smith Wood Roy Cate Mayor Jordan Dennis Mullens Pete Reagan Sondra Smith Ronnie Wood Lioneld Jordan Chairman Sondra E. Smith Secretary Roy Cate Position 1 Retired Firemen's Pension and Relief Fund Board of Trustees Meeting Agenda July 31, 2014 Pete Reagan Position 2 Retired Dennis Mullen Position 3 Retired Ron Wood Posltlon 4 Retired A meeting of the Fayetteville Firemen's Pension and Relief Fund Board of Trustees will be held at 3:00 PM on July 31, 2014 in Room 326 of the City Administration Building. Call to Order Roll Call Garrison Financial: • 2nd Quarter reports • Monthly Reports Approval of the Minutes: • Approval of the April 24, 2014 meeting minutes • Approval of the June 2, 2014 special meeting minutes Pension List Changes: • Joseph Fraley deceased May 5, 2014. His spouse Lora Dean Fraley will receive his benefit beginning June, 2014. • James E. Harris deceased May 16, 2014. Spouse not eligible to receive benefit. • Melva June Harris deceased June 18, 2014 (James Harris widow). Approval of the Pension List: • Re -approval of the June and July, 2014 pension lists • Approval of the August, September and October, 2014 pension lists New Business: • Revenue and Expense Report 06/30/14 • Turnback funds • Pension Review Board Evaluating Local Plan Investments Memo • City Attorney letter regarding Ms. Jenkins Election results: Pete Reagan and Roy Cate have been re-elected Informational: 0 2014 meeting schedule N� GARRISON F I N A N C I A L July 7, 2014 Ms. Sondra Smith City of Fayetteville 113 West Mountain Street Fayetteville, Arkansas 72701 Dear Ms. Smith, RECEIVED JUL 0 7 2014 CITY CLERKS OFFICE Enclosed is the quarterly report for the Firemen's Pension & Relief Fund for the quarter ended June 30, 2014. The markets performed remarkably well the first half of 2014 despite dismal economic activity and continued geopolitical drama around the world. All major equity markets around the globe posted gains except for Japan and Hong Kong. The S&P 500 gained +5.23% in the quarter leaving year to date gains at +7.14%. The market gains were very broad based with consumer discretionary being the only sector that was in the red with a minimal loss of -.13%. Utilities and energy names topped the gains for the first half of the year while consumer discretionary and telecoms lagged. In the bond market the Fed continued its reduction in quantitative easing (QE) for the fifth consecutive meeting. Currently monthly bond purchases are down to $35 billion from a peak of $85 billion. QE is on pace to end in the fall of 2014 although reinvestment of the Fed's portfolio will continue well into 2015. For the quarter, rates on the 10 year Treasury fell by about 20 basis points to 2.53% as bond prices continued to rise. Year-to-date rates have fallen by an even 50 basis points, having begun the year at the high so far of 3.03%. For the twelve months ending in June rates are essentially unchanged, having started July of 2013 around 2.48%, although the volatility has been pronounced, with rates twice having touched 3% and having been at or below 2.50% on five separate occasions. For the second quarter the Barclay's Intermediate Government/Credit Index was up +1.23%, bringing year-to-date returns to +2.25%. Historically such broad based equity gains would suggest the global economy is improving. This isn't so much the case currently. The U.S. economy retracted -2.9% in the first quarter. Some of the contraction can be blamed on the all the snow and bad weather we experienced this past winter but the magnitude of decline was even greater than most expected. In Europe things aren't any better. The ECB committed to a more stimulative monetary policy as concerns about sluggish growth and deflation also plague that area. Analysts and economists have been busy cutting economic growth estimates for 2014 and beyond for both the U.S. and most of the other developed and emerging markets around the globe. Garrison Financia[ 605 W. Dickson Street, Suite 201 • Fayetteville, Arkansas 72701 479-587-1045 . 888-442-7637. 479-587-1257 Facsimile 9 www.GatTisonFinancial.com Earnings have continued to grow in 2014 even though the economy shrunk in the 15` quarter. However market gains continue to outpace earnings growth, which has caused valuations to continue their expansion as we experienced in 2013. The S&P 500 started the year trading at 16.6x earnings and now currently trades at 18x earnings. As I write this (July 1 s) the markets are hitting new all-time highs. It's easy to argue better economic news and corporate profit growth will be needed to sustain further gains in the equity markets. At this point we wouldn't consider valuations excessive, but we never like to see the market advance too much ahead of earnings growth since this is not a sustainable scenario. We believe economic growth strengthened in the second quarter and are hopeful earnings growth will be strong enough to justify and support the recent market gains. Although we're now 5'/ years past the start of the great recession, the economy is still healing. We expect muted economic growth and low (but rising) interest rates to be the norm for the next several years. In this type of environment we believe patience and discipline will reward investors over the long term. Once again, it is a pleasure serving you and we appreciate your confidence in our firm. If you should have any questions please call the office. Cordially, &AT Kerry Bradley, CFA, MBA Equity Portfolio Manager Garrison Financial 605 W. Dickson Street, Suite 201 • Fayetteville, Arkansas 72701 479-587-1045 • 888-442-7637. 479-587-1257 Facsimile 9 www.GarrisonFinancial.com 0*)l GARRISON F I N A N C I A L City of Fayetteville Firemen's Pension & Relief Fund Charles Schwab #7851-1206 Quarter Ending June 30, 2014 IZ�7 i���I�L���iPiLLI_LZvi City of Fayetteville Firemen's Pension & Relief Fund Charles Schwab #7851-1206 June 30, 2014 ■ Cash & Equivalents 273,304.13 ■ Account Fixed Income 1,314,529.95 N Account Equities 2,760,089.67 Garrison Financial PORTFOLIO APPRAISAL City of Fayetteville Firemen Is Pension & Relief Fund Charles Schwab #7851-1206 June 30, 2014 Unit Total Market Pct. Unit Annual Quantity Security Cost Cost Price Value Assets Income Income Yield CASH AND EQUIVALENTS Schwab Advisor Cash Res - 273,304.13 273,304.13 6.3 0.010 27.33 0.0 Premier 273,304.13 273,304.13 6.3 27.33 0.0 TREASURY NOTE 200,000 US Treasury Note 4.000% Due 08-15-18 Accrued Interest CORPORATE BONDS 50,000 IBM Corp. 7.000% Due 10-30-25 Accrued Interest 102.22 204,437.50 110.81 221,625.00 2,983.43 204,437.50 224,608.43 100.01 50,004.00 132.31 66,154.90 583.33 50,004.00 66,738.23 5.1 4.000 8,000.00 1.3 0.1 5.2 8,000.00 1.3 1.5 7.000 3,500.00 3.5 0.0 1.5 3,500.00 3.5 COMMON STOCK 1,710 AT&T, Inc. 24.39 41,702.95 35.36 60,465.60 1.4 1.840 3,146.40 5.2 1,575 AbbVie, Inc. 24.35 38,357.14 56.44 88,893.00 2.0 1.680 2,646.00 3.0 1,575 Abbott Laboratories 22.46 35,371.29 40.90 64,417.50 1.5 0.880 1,386.00 2.2 1,000 American Electric 33.69 33,687.39 55.77 55,770.00 1.3 2.000 2,000.00 3.6 Power 2,300 BCE, Inc. Cl F 24.40 56,110.11 45.36 104,328.00 2.4 2.470 5,681.00 5.4 700 Chevron Corporation 73.07 51,150.83 130.55 91,385.00 2.1 4.280 2,996.00 3.3 3,000 Cisco Systems, Inc. 17.43 52,302.90 24.85 74,550.00 1.7 0.760 2,280.00 3.1 2,200 Coca-Cola Company 26.40 58,074.28 42.36 93,192.00 2.1 1.220 2,684.00 2.9 1,200 ConocoPhillips 44.94 53,930.85 85.73 102,876.00 2.4 2.760 3,312.00 3.2 833 Duke Energy Corp. 57.48 47,880.86 74.19 61,800.23 1.4 3.120 2,598.96 4.2 750 Emerson Electric 38.01 28,509.22 66.36 49,770.00 1.1 1.720 1,290.00 2.6 3,000 General Electric Co. 15.96 47,883.00 26.28 78,840.00 1.8 0.880 2,640.00 3.3 900 Genuine Parts Co. 36.65 32,986.53 87.80 79,020.00 1.8 2.300 2,070.00 2.6 1,500 G1axoSmidiKline Plc. 38.47 57,702.15 53.48 80,220.00 1.8 3.200 4,800.00 6.0 450 IBM Corporation 122.43 55,091.76 181.27 81,571.50 1.9 4.400 1,980.00 2.4 3,725 Intel Corp. 17.61 65,581.48 30.90 115,102.50 2.6 0.900 3,352.50 2.9 815 Johnson & Johnson 60.77 49,527.39 104.62 85,265.30 2.0 2.800 2,282.00 2.7 850 Kimberly Clark Corp. 60.71 51,599.58 111.22 94,537.00 2.2 3.360 2,856.00 3.0 1,300 Microsoft Corp. 26.30 34,185.86 41.70 54,210.00 1.2 1.120 1,456.00 2.7 1,520 Pfizer, Inc. 16.52 25,116.11 29.68 45,113.60 1.0 1.040 1,580.80 3.5 1,000 Procter & Gamble Co. 50.46 50,458.56 78.59 78,590.00 1.8 2.570 2,570.00 3.3 700 Wal-Mart Stores, Inc. 50.36 35,248.98 75.07 52,549.00 1.2 1.920 1,344.00 2.6 1,002,459.24 1,692,466.23 38.9 56,951.66 3.4 MUTUALFUNDS 1,296.008 Columbia Acorn Intl Z 38.58 50,000.00 48.95 63,439.59 1.5 3.120 4,043.54 6.4 14,455.268 Fed Intens Corp Bond 9.69 140,000.00 9.68 139,926.99 3.2 0.370 5,348.45 3.8 7,651.109 Natixis Loomis Sayles 13.07 100,000.00 13.39 102,448.35 2.4 0.500 3,825.55 3.7 Bond Fund 3,600.360 PIMCO Total Return Cl 11.11 40,000.00 10.97 39,495.95 0.9 0.270 972.10 2.5 D 4,683.407 Steell ath MLP Income 10.68 50,000.00 11.58 54,233.85 1.2 0.780 3,653.06 6.7 4,558.369 Vanguard Developed 10.97 50,000.00 13.67 62,312.91 1.4 0.350 1,595.43 2.6 Markets 1,387.374 Vanguard Emerging 36.04 50,000.00 35.91 49,820.60 1.1 0.980 1,359.63 2.7 Mkts Stk Index 2,615.123 Vanguard Hi -Div Yld 19.12 50,000.00 26.27 68,699.28 1.6 0.690 1,804.43 2.6 I You should carefully compare this statement to the statement you receive from your custodian and notify as immediately of any discrepancies. 2 Garrison Financial PORTFOLIO APPRAISAL City of Fayetteville Firemen's Pension & Relief Fund Charles Schwab #7851-1206 June 30, 2014 Unit Total Market Pct. Unit Annual Quantity Security Cost cost Price Value Assets Inwme Income Yield 3,412.116 Vanguard Mid -Cap 29.31 100,000.00 41.47 141,500.45 3.3 0.020 68.24 0.0 Growth 3,410.952 Vanguard Mid -Cap 29.32 100,000.00 45.01 153,526.95 3.5 0.040 136.44 0.1 Value 3,290.816 Vanguard Small -Cap 30.39 100,000.00 44.78 147,362.74 3.4 0.020 65.82 0.0 Growth 3,324.742 Vanguard Small -Cap 30.08 100,000.00 45.31 150,644.06 3.5 0.040 132.99 0.1 Value 930,000.00 1,173,411.73 27.0 23,005.68 2.0 UNIT TRUSTS 2,500 Sector Utility Select Shs 31.96 79,899.25 44.26 110,650.00 2.5 1.470 3,675.00 3.3 1,400 iShares Barclays 7-10 104.43 146,198.70 103.58 145,012.00 3.3 1.940 2,716.00 1.9 yr Treasury 850 iShares DI Select Div 47.39 40,285.75 76.98 65,433.00 1.5 2.230 1,895.50 2.9 5,000 iShams IBOXX Inv 106.90 534,506.93 119.26 596,300.00 13.7 4.280 21,400.00 3.6 Grade Corp Bond 800,890.63 917,395.00 21.1 29,686.50 3.2 TOTAL PORTFOLIO 3,261,095.50 4„347,923.75 100.0 121,171.17 2.6 You should carefully compare this statement to the statement you receive from your custodian and notify as immediately of any discrepancies. 2 Garrison Financial PURCHASE AND SALE City of Fayetteville Firemen's Pension & Relief Fund Charles Schwab #7851-1206 From 01-01-14 To 06-30-14 Trade Settle Unit Date Date Quantity Security Price PURCHASES 03-21-14 03-24-14 03-21-14 03-24-14 SALES 05-06-14 02-05-14 02-05-14 02-05-14 05-06-14 05-06-14 05-06-14 02-05-14 05-06-14 03-21-14 05-09-14 02-10-14 02-10-14 02-10-14 05-09-14 05-09-14 05-09-14 02-10-14 05-09-14 03-24-14 05-06-14 05-09-14 05-06-14 05-09-14 10,471.204 Fed Interco Corp Bond 7,651.109 Natixis Loomis Sayles Bond Fund 1,000 American Electric Power 250 Emerson Electric 1,000 General Electric Co. 500 GlaxoSmithKline Plc. 300 Johnson & Johnson 100 Microsoft Corp. 1,300 Microsoft Corp. 1,000 Pfizer, Inc. 1,600 Pfizer, Inc. 200,000 US Treasury Note 4.000% Due 08-15-18 500 Wal-Mart Stores, Inc. 200 Wal-Mart Stores, Inc. Amount 9.55 100,000.00 13.07 100,000.00 200,000.00 52.96 63.80 24.53 51.69 99.64 39.04 39.03 30.66 29.48 110.65 52,960.88 15,949.02 24,533.62 25,846.60 29,891.69 3,903.77 50,743.87 30,663.52 47,175.61 221,305.62 78.13 39,065.25 78.13 15,625.29 557,664.74 Garrison Financial REALIZED GAINS AND LOSSES City of Fayetteville Firemen's Pension & Relief Fund Charles Schwab #7851-1206 From 01-01-14 Through 06-30-14 Gain Or Loss Open Close Cost Date Date Quantity Security Basis Proceeds Short Term Long Term 12-31-05 02-05-14 1,000 General Electric Co. 15,961.00 24,533.62 8,572.62 12-31-05 02-05-14 250 Emerson Electric 9,503.07 15,949.02 6,445.94 12-31-05 02-05-14 1,000 Pfizer, Inc. 16,523.76 30,663.52 14,139.76 12-31-05 02-05-14 500 GlaxoSmithKline Plc. 19,234.05 25,846.60 6,612.55 12-31-05 03-21-14 200,000 US Treasury Note 204,437.50 221,305.62 16,868.12 4.000% Due 08-15-18 12-31-05 05-06-14 1,000 American Electric Power 33,687.39 52,960.88 19,273.48 12-31-05 05-06-14 100 Microsoft Corp. 2,629.68 3,903.77 1,274.09 12-31-05 05-06-14 1,300 Microsoft Corp. 34,185.86 50,743.87 16,558.01 12-31-05 05-06-14 300 Johnson & Johnson 18,230.94 29,891.69 11,660.75 12-31-05 05-06-14 1,600 Pfizer, Inc. 26,438.01 47,175.61 20,737.60 12-31-05 05-06-14 500 Wal -Man Stores, Inc. 25,177.85 39,065.25 13,887.40 12-31-05 05-06-14 200 Wal-Mart Stores, Inc. 10,071.14 15,625.29 5,554.15 TOTAL GAINS 0.00 141,584.48 TOTAL LOSSES 0.00 0.00 416,080.26 557,664.74 0.00 141,584.48 TOTAL REALIZED GAIN/LOSS 141,584.48 CAPITAL GAIN DISTRIBUTIONS 06-04-14 TOTAL DISTRIBUTIONS Columbia Accra Intl Z 664.37 TOTAL GAIN/LOSS 142,248.85 664.37 0.00 664.37 0.00 1.42,248.85 Garrison Financial PERFORMANCE SUMMARY GROSS OF FEES City of Fayetteville Firemen's Pension & Relief Fund Charles Schwab #7851-1206 June 30, 2014 PORTFOLIO COMPOSITION CHANGE IN PORTFOLIO Annualized Quarter Market Pct. Inception To Date To Date Months Value Assets Yield 13.99 11.39 Cash & Equivalents 273,304.13 6.3 0.0 Portfolio Value on 12-31-13 4,521,868.03 Account Fixed 1,314,529.95 30.2 3.0 Accrued Interest 6,583.33 Income 7.68 19.70 17.15 5.23 7.14 Account Equities 2,760,089.67 63.5 2.7 Net Additions/Withdrawals -444,252.18 Account 0.00 0.0 - Realized Gains 2,332.74 Commodities Unrealized Gains 202,136.26 Income Received 64,165.60 Change in Accrued Interest -3,016.57 Portfolio Value on 06-30-14 4,344,356.99 Accrued Interest 3,566.76 Total 4,347,923.75 100.0 2.6 4,347,923.75 Account 40% Fixed Income/60% Equity Blended Index Account Fixed Income Barclays Capital Intermed Govt/Credit Account Equities S&P 500 TIME WEIGHTED RETURN All "Account" returns refer to your portfolio. Benchmark indexes are also listed for reference. All returns are reported as percentages. This report is calculated using industry -standard accounting and performance calculation methodologies and is generated by our Axys portfolio accounting software. Calculations are a time -weighted total return series based on monthly valuations, including all cash and equivalents. All calculations are done based on trade date, employing the accrual method of accounting and include cash, interest, dividends and realized and unrealized gains and losses. Performance is adjusted to accurately reflect portfolio deposits and withdrawals. Results are presented after transaction costs but before management fees. Inception -to -date returns are annualized numbers, except for accounts under management less than one year. Unsupervised assets are excluded in performance calculation. At any given point in time an investment may be worth more or less than the original purchase price. Annualized Quarter Year Last 12 Inception To Date To Date Months To Date 4.29 6.39 13.99 11.39 3.62 5.21 15.56 12.89 2.47 4.89 5.74 2.85 1.23 2.25 2.85 1.74 5.53 7.68 19.70 17.15 5.23 7.14 24.61 20.73 All "Account" returns refer to your portfolio. Benchmark indexes are also listed for reference. All returns are reported as percentages. This report is calculated using industry -standard accounting and performance calculation methodologies and is generated by our Axys portfolio accounting software. Calculations are a time -weighted total return series based on monthly valuations, including all cash and equivalents. All calculations are done based on trade date, employing the accrual method of accounting and include cash, interest, dividends and realized and unrealized gains and losses. Performance is adjusted to accurately reflect portfolio deposits and withdrawals. Results are presented after transaction costs but before management fees. Inception -to -date returns are annualized numbers, except for accounts under management less than one year. Unsupervised assets are excluded in performance calculation. At any given point in time an investment may be worth more or less than the original purchase price. �w GARRISON F I N A N C I A L July 7, 2014 City of Fayetteville Firemen's Pension & Relief Fund Charles Schwab #7851-1206 113 West Mountain Street Fayetteville, AR 72701-6069 STATEMENT OF MANAGEMENT FEES For The Period April 1 through June 30, 2014 Portfolio Value as of 03-31-14 4,361,486 Portfolio Value as of 04-30-14 4,335,875 Portfolio Value as of 05-31-14 4,270,342 Portfolio Value as of 06-30-14 4,347,924 Average of 4 Months 4,328,907 4,328,907 @ 0.5000% per annum 5,411 Quarterly Management Fee 5,411 TOTAL DUE AND PAYABLE 5,411 This statement is for informational purposes only. As you requested, the fee will be automatically deducted from your account. Please be advised that it is the responsibility of the client to verify the accuracy of each fee calculation. The custodian will not determine whether the fee is properly calculated. Lioneld Jordan Chairman Sondra E. Smith Secretary Roy Cate Position I Retired Firemen's Pension and Relief Fund Board of Trustees Meeting Minutes April 24, 2014 Page 1 of 5 Pete Reagan Position 2 Retired Dennis Mullens Position 3 Retired Ron Wood Position 4 Retired Firemen's Pension and Relief Fund Board of Trustees Meeting Minutes April 24, 2014 A meeting of the Fayetteville Firemen's Pension and Relief Fund Board of Trustees was held at 3:00 PM on April 24, 2014 in Room 326 of the City Administration Building. Mayor Jordan called the meeting to order. Present: Roy Cate, Pete Reagan, Ron Wood, Mayor Jordan, Lisa Branson, Deputy City Clerk, Kit Williams, City Attorney, Dee McCoy, City Clerk's Office, Glenn Atkins and James Bell of Garrison Financial. Absent: Sondra Smith, Dennis Mullens Garrison Financial: 1st Quarter reports — March, 2014 James Bell, Garrison Financial: Thank you guys for having us again this quarter. I will start on the second page of our report, the one with the chart. We ended the quarter, March 31, 2014 the portfolio was about $3.6 million total. Your asset allocation was about 66% equities, about 30% bonds and fixed income, about 4.5% cash. Your policy is 60% equity. We are a little overweight on the equities at this point, as we have been all throughout the last eighteen months or more and that's been a good thing. The equity market has been very strong, so that was the correct call. Given where we are with interest rates and a low interest environment we are comfortable with that slight overweight on the equity side so we will probably continue to see that going forward. On the cash, you've got close to $200,000 at the end of the quarter. We work to keep the cash level right around there so that we have ready cash available for disbursements as they come in most months. Turning forward to the purchase and sale page, we did sell a partial positions and a handful of stocks over the first quarter, Emerson Electric, General Electric, GlaxoSmithKline, and Pfizer. That's not really a call on our part on their investment criteria at all. In fact, you continue to hold some of those positions. Those sells were made to rebalance the portfolio to keep from getting Firemen's Pension and Relief Fund Board of Trustees Meeting Minutes April 24, 2014 Page 2 of 5 too overweight in equities and to continue to fund that cash portion of the portfolio so that the cash is ready for disbursement. Turning a couple pages more toward the performance summary page, for the quarter your equity portion of the portfolio returns just over 2% for the quarter versus 1.81 % on the S&P 500, which is our benchmark. The fixed income or bond portion of the portfolio returned 2.37% versus I% on our bond index. Overall you were up just over 2% on your portfolio versus just over 1.5% on our blended index. We feel good about our performance this year. It was close to a flat market and our returns were good. Given the low interest rate environment that we are seeing right now we don't anticipate any major changes as far as the weight towards stocks and bonds in the near fixture. We will continue to focus conservatively on income and capital appreciation. Glenn Atkins, Garrison Financial: As James mentioned, thanks for having us in again this quarter. If you'll remember the last couple of quarters we had talked about selling part of that treasury of bond that we held, $400,000 in your portfolio. Even though it was paying, and still is paying, a high coupon of 4% the maturity was so short that the yield was around 1.47%. We did sell half of that position and we reinvested $100,000 of it into the Federated Intermediate Corporate Fund that is yielding 4.17%. We went out just a little bit in maturity, not much, and tripled the yield. We invested the other $100,000 into the Loomis Sayles Bond Fund which is yielding around a 3.48%. We may look to do that with the rest of them, just depending upon how the market reacts. On the face of it you look and say well it has a 4% coupon, but it's trading at such premium that the yield is low. If we, sell it and reinvest it in something that has a higher yield it's better for you. I looked at the performance of the treasury since the day that we sold it versus the performance of the two funds that we put it in. We sold the treasury on March 24th so it's been basically a month. The Treasury bond itself was up .23%, so one quarter of a percent almost. The Federated Intermediate Corporate Fund was up three times that a.68%. The Loomis Sayles Bond Fund, over that roughly one month period, was up 1.29%. So far so good for the month. As the market conditions warrant, we may do that with the rest of it. We may look to do that with the IBM Bond, particularly since the maturity's a little bit longer than perhaps is called for right now. On the sale of that $200,000 treasury piece, we had an approximate gain of about $17,000. We got $221,000, we invested exactly $200,000, $100,000 in each of those funds, and then the $21,000 just remained in cash to fund operations or whatever else that we need. Next I would like to call your attention to this heart monitor chart. The first page is the yield on the ten year Treasury bond. As you know, we use this as market proxy for the quarter since we've been here last. The take away from that is the volatility continues and we are trying not to get in the way of it. The second page is the same ten year Treasury bond basically over the last year. If you'll remember back in April and May of last year was when rates really began to run up. They topped out at a little over 3%, twice. Once in early September and once at the very end of the year. As the market rallied into the March period, that sort of pushed us over the edge to take that treasury off, sell it and reinvest it. That's all the formal comments we have at this time. We would love to take questions or hear ideas, feedback, criticisms or suggestions. We are here to answer what we can. Firemen's Pension and Relief Fund Board of Trustees Meeting Minutes April 24, 2014 Page 3 of 5 Pete Reagan: Your comment earlier, James, on thinking about doing the other $200,000 out of the IBM. Glenn Atkins: My first choice would be the Treasury bill simply because there's $200,000 left in there, Pete. That would be my first choice because the yield is so low relative to the bond funds that we could invest in. The IBM would be the second choice only because of its maturity in 2025. It is only 11.5 years which is not bad it was much longer than that when it was originally purchased. I'm less inclined to do the IBM because of the high coupon and it is paying a good yield. There is going to be more volatility in a ten year bond than there is going to be in a five year mutual fund, but it might be worth it given the 7% coupon. The first look would be perhaps to pair some of that treasury down especially if we were to get another rally in the market. It is paying a good rate of interest. It's a good investment but if we get a rally we might peel a little bit more of it off and put it into the funds. Pete Reagan: Can you tell me a little bit about the Fed Interm Corp Bond that we purchased. Can you tell us what that is? Glenn Atkins: The Federated Fund is a well -diversified corporate bond fund that is managed by Federated Investors which is a big name in the industry and has been around forever. We use this fund in our other accounts that either require or are so small that we need to use mutual funds in. The average duration on it, which is a measure of maturity, is only 3.9 years. It is investment grade rated at Triple B. They tend to manage money like we would manage money if we were able to do individual securities. I think we've mentioned in the past that's the kind of funds that we try to pick in situations where we have to use mutual funds. We try to pick funds that are primarily invested in corporates that are high quality investment grade and that seem to manage money like we would if we could use individual securities. The same thing is true on the Loomis Sayles, although the duration on that one is 5.7 years, so a year and a half roughly longer. Pete Reagan: Thank you. Thank you for what you do. Mayor Jordan: Absolutely. Glenn Atkins: You're welcome. We enjoy it and we love coming here every quarter Garrison Privacy Policy 04/14/14 Mayor Jordan: What is the Garrison Privacy Policy? Glenn Atkins: We probably sent you a privacy policy that says we aren't going to sell your information and we're not going to go down to the mall and pass it out. We're required to send that out once a year by the Securities and Exchange Commission. James Bell: Obviously all that information is secure and private and not shared with anyone. We take that very serious. Firemen's Pension and Relief Fund Board of Trustees Meeting Minutes April 24, 2014 Page 4 of 5 Approval of the Minutes: Approval of the January 23, 2014 meeting minutes Pete Reagan moved to approve the January 23, 2014 meeting minutes. Ron Wood seconded the motion. Upon roll call the motion passed 4-0. Sondra Smith and Dennis Mullens were absent. Pension List Changes: Charlie Jordan deceased February 4, 2014. His spouse Sandra K. Jordan will receive his benefit beginning March, 2014. Lisa Branson, Deputy City Clerk: That's just informational. It will change the pension list, so you will need to re -approve the March and April lists because those have already been approved at the last meeting then vote to approve the May, June and July pension lists. Approval of the Pension List: Re -approval of the March and April, 2014 pension lists Pete Reagan moved to re -approve the March and April, 2014 pension lists. Roy Cate seconded the motion. Upon roll call the motion passed 4-0. Sondra Smith and Dennis Mullens were absent. Approval of the May, June and July, 2014 pension lists Pete Reagan moved to approve the May, June and July, 2014 pension lists. Roy Cate seconded the motion. Upon roll call the motion passed 4-0. Sondra Smith and Dennis Mullen were absent. New Business: Revenue & expense report: lat Quarter — March 31, 2014 report Lisa Branson: That's just informational. Accounting does that every quarter for you and there's a copy of that in your agenda. Firemen's Pension and Relief Fund Board of Trustees Meeting Minutes April 24, 2014 Page 5 of 5 Election: Nine (9) Pensioners were nominated to serve The following four (4) are willing to serve: Pete Reagan Roy Cate Ralph Tate John Jenkins . Lisa Branson: Our office sent out forty nomination letters. We received thirteen by the deadline and one after the deadline. Nine pensioners were nominated. Out of those nine, four are willing to serve, and that is Pete Reagan, Roy Cate, Ralph Tate and John Jenkins. We will send out the ballots by May 1St. We are working on that now. Schedule a special meeting to open ballots Mayor Jordan: So I guess the big question is when would y'all like to schedule a special meeting to open the ballots? A discussion followed on a date for a special meeting to open the ballots. Kit Williams: Definitely need to have Sondra here. Informational: 2014 meeting schedule Lisa Branson: That's just information and there is a copy of that in your packet. Adjourn: 3:19 p.m. Board Members Mayor Jordan Chairman Sondra E. Smith Secretary Roy Cate Position I/Retired Pete Reagan Position 2/Retired Dennis Mullens Position 3/Retired Ronnie Wood Position 4/Retired Special Firemen's Pension and Relief Fund Board of Trustees Meeting Minutes June 2, 2014 Page 1 of 1 Special Firemen's Pension and Relief Fund Board of Trustees Meeting Minutes June 2, 2014 A special meeting of the Fayetteville Firemen's Pension and Relief Fund Board of Trustees was held at 3:00 p.m. on June 2, 2014 in Room 326 of the City Administration Building. Mayor Jordan called the meeting to order. Present: Roy Cate, Pete Reagan, Mayor Jordan, Sondra Smith, Lisa Branson, and Trish Leach. Absent: Dennis Mullens and Ron Wood New Business: Election — Ballots Opened The City Clerk and the Deputy City Clerk opened each ballot. The ballots and envelopes were shuffled according to the ballot procedure that was approved by the Board. The ballots were read and counted. Lisa Branson opened each envelope. Pete Reagan received 18 votes, Roy Cate received 20 votes, Ralph Tate received 6 votes and John Jenkins received zero votes. There were no write-ins. Meeting adjourned at 3:16 p.m. 113 West Mountain 72701 (479) 575-8323 TDD (Telecommunications Device for the Deaf) (479) 521-1316 Joseph G. Fraley',, FAYETTEVILLE — Joseph G Fraley, age 83, of Fayettevilt died Monday, May 5, 2014 in Fayette- ville. He was born March 29, 1931, in Hazel Valley, Ark., the son dfRay and Jenetta Jordan Fraley Fraley. He was preceded in death by his parents and five.. -siblings. He was a retired firefighte for the city of Fayetteville;' Attaining the rank of captav He was a member of Mount'[; Comfort Church of Chrisf'd and was an avid fisherman. He is survived by his wife of 60 years, Lora DeanDeaton Fraley; a daughter, Patricia Arnold of Conway, ;Ark.; a son, Terry Fraley .and his wife, Kimberly, of, Niceville, Fla.; four sisters, Ina Baker of Hindsville, Ark, Corene Wheeler of Rosehill,. Kan, Elta Richert of Fayette- ville, Ark, and Reva Thomas of Hazel Valley, Ark.; six ,grandchildren, Crissa Mitch- ell, Erica Powell, Katherine Qu Cox, Meghann een, Joseph Fraley and James Fraley, and lb great-grandchildren. Visitation will be 5 to 7 p,m, today, May 7, 2014, at Moore's Chapel. Funeral service will be '2 P.M. Thursday at Mount Comfort Church of Christ, followed by burial at Combs Cemetery in Combs, Ark. , Memorials may be made tb Washington Regional Hospice, 34 Colt Square, Fayetteville, AR 72703; or Hazel Valley Cemetery Asso- _ dation or Combs Cemetery 'Association. To sign the online guest book, visit wwwmooresfu neralchapel.com. In Memory of James E. 'Dean" Harris -- Moores Chapel, Fayetteville, AR '.© SHARE ©frl9 ... View the image gallery — View a Video -- V Facts Born: April 28, 1931 Death: May 16, 2014 James E. "Dean" Harris April 28, 1931 - May 16, 2014 Page I of 2 James E. "Dean" Harris, age 83, of Fayetteville, died Friday, May 16, 2014 in Springdale. He was born April 28, 1931 in the Whitehouse Community, Arkansas, the son of Homer and Ella Shumate Harris. He was preceded in death by his first wife, Jeanine Harris. He was a retired employee of SWEPCO and a United States Army veteran of the Korean War. He was a farmer, an avid fisherman and a Baptist. He is survived by his wife, June Harris; two sons, Wendell Harris and his wife Debbie of Fayetteville, Arkansas and Kavin Harris and his wife Thursia of Siloam Springs, Arkansas; four grandchildren and two great-grandchildren. Visitation will be held 5:00 - 7:00 p.m., Monday, May 19, 2014 at Moore's Chapel. Funeral service will be held at 10:00 a.m., Tuesday at Moore's Chapel followed by burial at Whitehouse Cemetery. Memorials may be made to the Whitehouse Cemetery Association, c/o Tim Richardson, 14751 South Whitehouse Road, Fayetteville, Arkansas 72701 Services Visitation Monday May 19, 2014, 5:00 p.m. - 7:00 p.m. at Moore's Chapel Click for Map and Directions Funeral Service Tuesday May 20, 2014, 10:00 a.m. at Moore's Chapel Click for Mao and Directions http://www.mooresfuneralchapel.com/memsol.cgi?user_id=1310382 7/21/2014 In Memory of James E. "Dean" Harris -- Moores Chapel, Fayetteville, AR Page 2 of 2 Sign the Guestbook Share your thoughts and memories in the guestbook. Sign the guestbook Read the guestbook Memorial donations can be made to: Whitehouse Cemetery Association, c/o Tim Richardson, 14752 South Whitehouse Road, Fayetteville, Arkansas 72701 Memorial Networks— Partner Provider: Batesville Interactive, All rights reserved. I Funeral Home Website by Batesville. Inc. PRIVACY I TERMS OF USE http://www.mooresfimeralchapel.com/memsol.cgi?user_id=1310382 7/21/2014 �J4-L 4 gev� FIREMEN'S RELIEF AND PENSION June 6 6 �� ,x(41 ( /"` „ , r,r� n 2014 4 6 1 6 THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTED ABOVE YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN. AND FOR THE PURPOSE SO STATED. 7/31/2014 KAFire PensionTension ListWension List 2014\FP 060114 Revised 073114 WM DATE OF Regular Mo Year To Date Act 1373 EMPlt RETIREMENT NAME Benefd Reg Benefit Future Supplement 177 4104 BACHMAN, EDDIE 2,618.55 15,711.30 74 3186 BAIRD, JULIA 1,802.08 10,812.48 63 5/72 BOLAIN, ANN 109.27 655.62 68 7/99 BONADUCE, MICHAEL 2,988.76 17,932.56 44 9/86 BOUDREY, BETTY MRS. 2,477.42 14,864.52 45 9/86 BOUDREY, HOWARD 2,089.28 12,535.68 49 7/68 BOUDREY, JACK 1,647.63 9,885.78 57 5/90 CATE. ROY 1,788.90 10,733.40 6 4/68 CHRISTIE, ARNOLD 109.27 655.62 188 12/05 DOSS, MARION H 5,376.91 32,261.46 188 12105 DOSS, MARION H plus 25 additional pay 731.61 4,389.66 11 2/76 FARRAR,ALONZO 998.86 5,993.16 192 4106 FARRAR, DANNY 4,155.36 24,932.16 38 5/84 FRALEY, JOSEPH G. deceased 5/04 0.00 8,840.60 220 5184 FRALEY, LORA D. 1,768.12 1,768.12 170 5/03 FREEDLE, LARRY 3,816.75 22,900.50 170 5103 FREEDLE, LARRY plus 25 additional pay 141.37 848.22 92 03/02 GAGE,TOMMY 2,596.69 15,580.14 34 6179 HARRIS, JAMES E. deceased 5116 0.01) 546.35 70 11199 HARRIS, MARY RUTH 109.27 655.62 182 10104 JENKINS, EILEEN 1,788.75 10,732.50 93 06/02 JENKINS, JOHN 1,788.76 10,732.56 86 07/01 JOHNSON,ROBERT 3,073.47 18,440.82 64 4195 JORDAN, CHARLIE deceased 2/04 0.00 4,549.90 219 4195 JORDAN, SANDRA K 2,274.95 9,099.80 76 5/88 JUDY, JAN 1,647.63 9,885.78 37 3/84 KING, ARNOLD D. 1,522.37 9,134.22 54 5/89 KING, ARVIL 1,711.21 10,267.26 173 12103 LEDBETTER. DENNIS 3,775.80 22,654.80 51 10168 LEWIS, CHARLES 1,647.63 9,885.78 40 9185 LOGUE, PAUL D. 2,868.28 17,209.68 202 02/08 MAHAN, MARSHALL 4,077.28 24,463.68 50 9/88 MASON, LARRY 1,631.25 9,787.50 39 4185 MC ARTHUR, RONALD A. 1,753.74 10,522.44 35 2182 MC CHRISTIAN, DWAYNE 109.27 655.62 15 4/77 MC WHORTER, CHARLES 1,334.51 8,007.06 209 8/81 MILLER, ALICE GAYLE 1,304.D7 7,624.42 73 2101) MILLER,KENNETH 3,180.02 19,080.12 73 2/00 MILLER,KENNETH plus 25 additional pay 170.60 1,023.60 217 2166 MOORE, BETTY L 109.27 655.62 176 4104 MORRIS, DIXIE E. 125.66 753.96 48 7188 MULLENS, DENNIS W. 2,191.30 13,147.80 184 3/05 NAPIER, LONNIE 3,518.28 21,109.68 lee 01102 ONEAL, TEDDY 4,120.99 24,725.94 46 5/88 OSBURN, TROY 1,899.66 11,397.96 81 02/01 PHILLIPS,LARRY 2,765.09 16,590.54 203 02108 PIERCE, JOEY 3,647.18 21,883.08 53 2/89 POAGE, LARRY 2,346.70 14,080.20 186 06105 REAGAN, PETE 3,535.71 21,214.26 201 A02/08 REED, JUNE 109.27 655.62 41 9/85 SCHADER, TROY 1,524.99 9,149.94 190 04/06 SHACKELFORD, GLEN 3,647.18 21,883.08 36 5/76 SPRINGSTON, CARL 806.19 4,837.14 90 03/02 STOUT, IMOGENE W. 767.80 4,606.80 165 12/02 TATE, RALPH 3,668.10 22,008.60 65 3166 TUNE, BILLIE SUE 136.59 819.54 71 1100 WARFORD,THOMAS 2,502.72 15,016.32 88 01102 WOOD,RONNIE D 3,077.15 18,462.90 208 9188 WRIGHT, Barbara 1,691.34 10,148.04 113,176.86 679,607.51 7/31/2014 KAFire PensionTension ListWension List 2014\FP 060114 Revised 073114 WM DATE OF Regular Mo Year To Date Aid 1373 EMP# RETIREMENT NAME Benefit Reg Benefit Future Supplement WE, THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE JUST AND CORRECT; THAT NO PART THEREOF HAS BEEN PREVIOUSLY PAID; THAT 0.00 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 , NOTARY PUBLIC MY COMMISSION EXPIRES: 7/312014 K:1Fire PensionlPension LisAPension List 20141FP 060114 Revised 073114 WM FIREMEN'S RELIEF AND PENSION July 7 7 2014 5 7 2 7 THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTED ABOVE YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED. Regular Mo Year To Date Act 1373 Benefit Reg Benefit Future Supplement 2,618.55 DATE OF 1235.00 EMP# RETIREMENT NAME 177 4/04 BACHMAN, EDDIE 74 3/86 BAIRD, JULIA 63 5/72 SOLAIN, ANN 68 7/99 BONADUCE, MICHAEL 44 9/86 BOUDREY, BETTY MRS. 45 9/86 BOUDREY, HOWARD 49 7/88 BOUDREY, JACK 57 5/90 CATE, ROY 6 4/68 CHRISTIE, ARNOLD 188 12/05 DOSS, MARION H 188 12/05 DOSS, MARION H plus 25 additional pay 11 2/76 FARRAR,ALONZO 192 4/06 FARRAR, DANNY 38 5/84 FRALEY, JOSEPH G. deceased 5/04 220 5/84 FRALEY, LORA D. 170 5/03 FREEDLE, LARRY 170 5/03 FREEDLE, LARRY plus 25 additional pay 92 03102 GAGE,TOMMY 34 6179 HARRIS, JAMES E. deceased 5/16 70 11/99 HARRIS, MARY RUTH 182 10/04 JENKINS, EILEEN 93 06/02 JENKINS, JOHN 86 07/01 JOHNSON,ROBERT 64 4195 JORDAN, CHARLIE deceased 2/04 219 4195 JORDAN, SANDRA K 76 5188 JUDY, JAN 37 3184 KING, ARNOLD D. 54 5189 KING, ARVIL 173 12/03 LEDBETTER,DENNIS 51 10/88 LEWIS, CHARLES 40 9/85 LOGUE, PAUL D. 202 02/08 MAHAN, MARSHALL 50 9/88 MASON, LARRY 39 4185 MC ARTHUR, RONALD A. 35 2/82 MC CHRISTIAN, DWAYNE 15 4/77 MC WHORTER, CHARLES 209 8/81 MILLER, ALICE GAYLE 73 2/00 MILLER,KENNETH 73 2100 MILLER,KENNETH plus 25 additional pay 217 2/86 MOORE, BETTY L 176 4104 MORRIS, DIXIE E. 48 7/88 MULLEN$, DENNIS W. 184 3/05 NAPIER, LONNIE 196 01/02 ONEAL, TEDDY 46 5188 OSBURN, TROY 81 02/01 PHILLIPS,LARRY 203 02108 PIERCE, JOEY 53 2/89 POAGE, LARRY 186 06105 REAGAN. PETE. 201 "02108 REED, JUNE 41 9/85 SCHADER, TROY 190 04106 SHACKELFORD, GLEN 36 5/76 SPRINGSTON, CARL 90 03/02 STOUT, IMOGENE W. 165 12102 TATE, RALPH 65 3/66 TUNE, BILLIE SUE 71 1/00 WARFORD,THOMAS 88 01/02 WOOD,RONNIED 208 9/88 WRIGHT, Barbara Regular Mo Year To Date Act 1373 Benefit Reg Benefit Future Supplement 2,618.55 18,329.85 1235.00 1,802.08 12,614.56 1235.00 109.27 764.89 247.00 2,988.76 20,921.32 1235.00 2,477.42 17,341.94 1235.00 2,089.28 14,624.96 1235.00 1,647.63 11,533.41 1235.00 1,788.90 12, 522.30 1235.00 109.27 764.89 247.00 5,376.91 37,638.37 1235.00 731.61 5,121.27 998.86 6,992.02 1235.00 4,155.36 29,087.52 1235.00 0.00 8,840.60 1,768.12 3,536.24 1235.00 3,816.75 26,717.25 1235.00 141.37 989.59 2,596.69 18,176.83 1235.00 0.00 546.35 109.27 764.89 247.00 1,788.75 12,521.25 1,788.76 12,521.32 1235.00 3,073.47 21,514.29 1235.00 0.00 4,549.90 2,274.95 11,374.75 1235.00 1,647.63 11,533.41 1235.OD 1,522.37 10, 656.69 1235.00 1,711.21 11, 978.47 1235.00 3,775.80 26,430.60 1235.00 1,647.63 11, 533.41 1235.00 2,868.28 20,077.96 1235.00 4,077.28 28,540.96 1235.00 1,631.25 11,418.75 1235.00 1,753.74 12,276.18 1235.00 109.27 764.89 247.00 1,334.51 9,341.57 1235.00 1,304.07 9,128.49 1235.00 3,180.02 22,260.14 1235.00 170.60 1,194.20 109.27 764.89 247.00 125.66 879.62 247.00 2,191.30 15, 339.10 1235.00 3,518.28 24,627.96 1235.00 4,120.99 28,646.93 1235.00 1.899.66 13,297.62 1235.00 2,765.09 19, 355.63 1235.00 3,647.18 25,530.26 1235.00 2,346.70 16, 426.90 1235.00 3,535.71 24,749.97 1235.00 109.27 764.89 247.00 1,524.99 10,674.93 1235.00 3,647.18 25,530.26 1235.00 806.19 5,643.33 1235.00 767.80 5,374.60 1235.00 3,668.10 25,676.70 1235.00 136.59 956.13 247.00 2,502.72 17, 519.04 1235.00 3,077.15 21,540.05 1235.00 1,691.34 11, 839.38 1235.00 113,176.66 792,784.37 56,316.00 7/31/2014 K1Fire PensionlPension ListTension List 20141FP 070114 Revised 073114 AM &;'j DATE OF Regular Mo Year To Date Act 1373 EMP# RETIREMENT NAME Benefit Reg Benefit Future Supplement 247.00 56563.00 56563.00 0.00 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 ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON) CHAIRMAN AND PRESIDENT SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF , NOTARY PUBLIC MY COMMISSION EXPIRES: 7/312014 KAFire Pension'Pension UstTension List 20141FP 070114 Revised 073114 WM FIREMEN'S RELIEF AND PENSION August 8 8 2014 6 8 3 8 THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTEI YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED. DATE OF EMP#RETIREMENT NAME 177 4104 BACHMAN, EDDIE 74 3/86 BAIRD, JULIA 63 5172 BOLAIN, ANN 68 7/99 BONADUCE, MICHAEL 44 9186 BOUDREY, BETTY MRS. 45 9/86 BOUDREY, HOWARD 49 7/88 BOUDREY, JACK 57 5/90 CATE, ROY 6 4168 CHRISTIE, ARNOLD 188 12/05 DOSS, MARION H 188 12/05 DOSS, MARION H plus 25 additional pay 11 2/76 FARRAR,ALONZO 192 4/06 FARRAR, DANNY 38 5184 FRALEY, JOSEPH G. deceased 5/04 220 5/84 FRALEY, LORA D. 170 5/03 FREEDLE, LARRY 170 5/03 FREEDLE, LARRY plus 25 additional pay 92 03/02 GAGE,TOMMY 34 6/79 HARRIS, JAMES E. deceased 5/16 70 11199 HARRIS, MARY RUTH 182 10/04 JENKINS, EILEEN 93 06102 JENKINS, JOHN 86 07/01 JOHNSON,ROBERT 64 4195 JORDAN, CHARLIE deceased 2/04 219 4/95 JORDAN, SANDRA K 76 5/88 JUDY, JAN 37 3/84 KING, ARNOLD D. 54 5189 KING, ARVIL 173 12103 LEDBETTER, DENNIS 51 10188 LEWIS, CHARLES 40 9/85 LOGUE, PAUL D. 202 02/08 MAHAN, MARSHALL 50 9/86 MASON, LARRY 39 4/85 MC ARTHUR, RONALD A. 35 2182 MC CHRISTIAN, DWAYNE 15 4177 MC WHORTER, CHARLES 209 8/81 MILLER, ALICE GAYLE 73 2/00 MILLER,KENNETH 73 2/00 MILLER,KENNETH plus 25 additional pay 217 2/86 MOORE, BETTY L 176 4/04 MORRIS, DIXIE E. 48 7/88 MULLENS, DENNIS W. 184 3105 NAPIER, LONNIE 196 01/02 ONEAL, TEDDY 46 5/88 OSBURN, TROY 81 02101 PHILLIPS,LARRY 203 02108 PIERCE, JOEY 53 289 POAGE, LARRY 186 06/05 REAGAN, PETE 201 "02/08 REED, JUNE 41 9185 SCHADER, TROY 190 04/06 SHACKELFORD, GLEN 36 5176 SPRINGSTON, CARL 90 03/02 STOUT, IMOGENE W. 165 12/02 TATE, RALPH 65 3/66 TUNE, BILLIE SUE 71 1/00 WARFORD,THOMAS 88 01/02 WOOD,RONNIE D 208 9/88 WRIGHT, Barbara Regular Mo Year To Date Benefit Reg Benefit 7/31/2014 K:1Fire PensionlPension Ust'Pension List 20141FP 080114 WM 2,618.55 20,948.40 1,802.08 14,416.64 109.27 874.16 2,988.76 23,910.08 2,477.42 19,819.36 2,089.28 16,714.24 1,647.63 13,181.04 1,788.90 14,311.20 109.27 874.16 5,376.91 43,015.28 731.61 5,852.88 998.86 7,990.88 4,155.36 33,242.88 0.00 8,840.60 1,768.12 5,304.36 3,816.75 30,534.00 141.37 1,130.96 2,596.69 20,773.52 0.00 546.35 109.27 874.16 1,788.75 14,310.00 1,788.76 14,310.08 3,073.47 24,587.76 D00 4,549.90 2,274.95 13,649.70 1,647.63 13,181.04 1,522.37 12,178.96 1,711.21 13,689.68 3,775.80 30,206.40 1,647.63 13,181,04 2,868.28 22,946.24 4,077.28 32,618.24 1,631.25 13,050.00 1,753.74 14,029.92 109.27 874.16 1,334.51 10,676.08 1,304.07 10,432.56 3,180.02 25,440.16 170.60 1,364.80 109.27 874.16 125.66 1,005.28 2,191.30 17,530.40 3,518.28 28,146.24 4,120.99 $2,967.92 1,899.66 15,197.28 2,765.09 22,120.72 3,647.18 29,177.44 2,346.70 18,773.60 3,535.71 28,285.68 109.27 874.16 1,524.99 12,199.92 3,647.18 29,177.44 806.19 6,449.52 767.80 6,142.40 3,668.10 29,344.80 136.59 1,092.72 2,502.72 20,021.76 3,077.15 24,617.20 1,691.34 13,530.72 113,176.86 905,961.23 DATE OF Regular Mo Year To Date EMP# RETIREMENT NAME Benefit Reg Benefit 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 NOTARY PUBLIC MY COMMISSION EXPIRES: 7/31/2014 KARIM PensionWension ListlPension List 20141FP 080114 WM FIREMEN'S RELIEF AND PENSION September 9 9 2014 7 9 4 9 THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTEI YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED. DATE OF EMP#RETIREMENT NAME 177 4104 BACHMAN, EDDIE 74 3/86 BARD, JULIA 63 5172 BOLAIN, ANN 68 7/99 BONADUCE, MICHAEL 44 9/86 BOUDREY, BETTY MRS. -45 9/86 BOUDREY, HOWARD 49 7/88 BOUDREY, JACK 57 5/90 CATE, ROY 6 4/6e CHRISTIE, ARNOLD 188 12105 DOSS, MARION H 188 12/05 DOSS, MARION H plus 25 additional pay 11 2/76 FARRAR,ALONZO 192 4/06 FARRAR, DANNY 38 5/84 FRALEY, JOSEPH G. deceased 5104 220 5/84 FRALEY, LORA D. 170 5/03 FREEDLE, LARRY 170 5/03 FREEDLE, LARRY plus 25 additional pay 92 03/02 GAGE,TOMMY 34 6/79 HARRIS, JAMES E. deceased 5116 70 11/99 HARRIS, MARY RUTH 182 10/04 JENKINS, EILEEN 93 06/02 JENKINS, JOHN 86 07/01 JOHNSON,ROBERT 64 4/95 JORDAN, CHARLIE deceased 2/04 219 4195 JORDAN, SANDRA K 76 5/88 JUDY, JAN 37 3/84 KING, ARNOLD D. 54 5/89 KING, ARVIL 173 12103 LEDBETTER, DENNIS 51 10/88 LEWIS, CHARLES 40 9/85 LOGUE, PAUL D. 202 02/08 MAHAN, MARSHALL 50 9/88 MASON, LARRY 39 4/85 MC ARTHUR, RONALD A. 35 2/82 MC CHRISTIAN, DWAYNE 15 4/77 MC WHORTER, CHARLES 209 6/81 MILLER, ALICE GAYLE 73 2/00 MILLER,KENNETH 73 2100 MILLER,KENNETH plus 25 additional pay 217 2/86 MOORE, BETTY L 176 4/04 MORRIS, DIXIE E. 48 7/88 MULLENS, DENNIS W. 184 3105 NAPIER, LONNIE 196 01/02 ONEAL, TEDDY 46 5/88 OSBURN, TROY 81 02/01 PHILLIPS,LARRY 203 02/08 PIERCE, JOEY 53 2189 POAGE, LARRY 186 06/05 REAGAN, PETE 201 A02108 REED, JUNE 41 9/85 SCHADER, TROY 190 04/06 SHACKELFORD, GLEN 36 586 SPRINGSTON, CARL 90 03/02 STOUT, IMOGENE W. 165 12102 TATE, RALPH 65 3166 TUNE, BILLIE SUE 71 1/00 WARFORD,THOMAS 88 01/02 WOOD,RONNIE D 208 9/88 WRIGHT, Barbara Regular Mo Year To Dale Benefit Reg Bene(A 7/31/2014 K:TIM PensionlPension LIstTension List 2014\FP 090114 WM 2,618.55 23,566.95 1,802.08 16,218.72 109.27 983.43 2,988.76 26,898.84 2,477.42 22,296.78 2,DB9.28 18,803.52 1,647.63 14,828.67 1,788.90 16,100.10 109.27 983.43 5,376.91 48,392.19 731.61 6,584.49 998.86 8,989.74 4,155.36 37,398.24 0.00 8,840.60 1,768.12 7,072.48 3,816.75 34,350.75 141.37 1,272.33 2,596.69 23,370.21 0.00 546.35 109.27 983.43 1,788.75 16,098.75 1,788.76 16,098.84 3,073.47 27,661.23 0.00 4,549.90 2,274.95 15,924.65 1,647.63 14,828.67 1,522.37 13,701.33 1,711.21 15,400.89 3,775.80 33,962.20 1,647.63 14,828.67 2,868.28 25,814.52 4,077.28 36,695.52 1,631.25 14,681.25 1,753.74 15,783.66 109.27 983.43 1,334.51 12,010.59 1,304.07 11,736.63 3,180.02 28,620.18 170.60 1,535.40 109.27 983.43 125.66 1,130.94 2,191.30 19,721.70 3,518.28 31,664.52 4,120.99 37,088.91 1,899.66 17,096.94 2,765.09 24,885.81 3,647.18 32,824.62 2,346.70 21,120.30 3,535.71 31,821.39 109.27 983.43 1,524.99 13,724.91 3,647.18 32,824.62 806.19 7,255.71 767.80 6,910.20 3,668.10 33,012.90 136.59 1,229.31 2,502.72 22,524.48 3,077.15 27,694.35 1,691.34 15,222.06 113,17&86 1,019,138.09 DATE OF Regular Mo Year To Date EMP# RETIREMENT NAME Benefit Reg Benefit 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 , NOTARY PUBLIC MY COMMISSION EXPIRES: 7/31/2014 K:1Fire Pen31onWension UstlPension List 2014TP 090114 WM FIREMEN'S RELIEF AND PENSION October 10 10 2014 8 10 5 10 THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTS YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED. Regular Mo Year To Date Benefit Reg Benefit 7/31/2014 KAFire PensioMPension ListlPension List 20141FP 100114 WM 2,618.55 26,185.50 1,802.08 18,020.80 109.27 1,092.70 2,988.76 29,887.60 2,477.42 24,774.20 2,089.28 20,892.80 1,647.63 16,476.30 1,788.90 17,889.00 109.27 1,092.70 5,376.91 53,769.10 731.61 7,316.10 998.86 9,988.60 4,155.36 41,553.60 0.00 8,840.60 1,768.12 8,840.60 3,816.75 38,167.50 141.37 1,413.70 2,596.69 25,966.90 0.00 546.35 109.27 1,092.70 1,788.75 17,887.50 1,788.76 17,887.60 3,073.47 30,734.70 O.DD 4,549.90 2,274.95 18,199.60 1,647.63 16,476.30 1,522.37 15,223.70 1,711.21 17,112.10 3,775.80 37,758.00 1,647.63 16,476.30 2,868.28 28 682.80 4,077.28 40,772.80 1,631.25 16,312.50 1,753.74 17,537.40 109.27 1,092.70 1,334.51 13,345.10 1,304.07 13,040.70 3,180.02 31,800.20 170.60 1,706.00 109.27 1,092.70 125.66 1,256.60 2,191.30 21,913.00 3,518.28 35,182.80 4,120.99 41,209.90 1,899.66 18,996.60 2,765.09 27,650.90 3,647.18 36,471.80 2,346.70 23,467.00 3,535.71 35,357.10 109.27 1,092.70 1,524.99 15,249.90 3,647.18 36,471.80 806.19 8,061.90 767.80 7,678.00 3,668.10 36,681.00 136.59 1,365.90 2,502.72 25,027.20 3,077.15 30,771.50 1,691.34 16,913.40 113,176.86 1,132,314.95 DATE OF EMP# RETIREMENT NAME 177 4/04 BACHMAN, EDDIE 74 3/86 BAIRD, JULIA 63 5/72 BOLAIN, ANN 68 7/99 BONADUCE, MICHAEL 44 9/86 BOUDREY, BETTY MRS. 45 9/86 BOUDREY, HOWARD 49 7/88 BOUDREY, JACK 57 5/90 CATE. ROY 6 4/68 CHRISTIE, ARNOLD 188 12/05 DOSS, MARION H 188 12105 DOSS, MARION H plus 25 additional pay 11 2176 FARRAR,ALONZO 192 4/06 FARRAR, DANNY 38 5184 FRALEY, JOSEPH G. deceased 5104 220 5/84 FRALEY, LORA D. 170 5103 FREEDLE, LARRY 170 5103 FREEDLE, LARRY plus 25 additional pay 92 03102 GAGE,TOMMY 34 6179 HARRIS, JAMES E. deceased 5/16 70 11199 HARRIS, MARY RUTH 182 10104 JENKINS, EILEEN 93 06/02 JENKINS, JOHN 86 07101 JOHNSON,ROBERT 64 4195 JORDAN, CHARLIE deceased 2104 219 4195 JORDAN, SANDRA K 76 5188 JUDY, JAN 37 3184 KING, ARNOLD D. 54 5/89 KING, ARVIL 173 12103 LEDBETTER, DENNIS 51 101811 LEWIS, CHARLES 40 9185 LOGUE, PAUL D. 202 02106 MAHAN, MARSHALL 50 9188 MASON, LARRY 39 4185 MC ARTHUR, RONALD A. 35 2182 MC CHRISTIAN, DWAYNE 15 4177 MC WHORTER, CHARLES 209 8181 MILLER, ALICE GAYLE 73 2100 . MILLER,KENNETH 73 2100 MILLER,KENNETH plus 25 additional pay 217 2186 MOORE, BETTY L 176 4104 MORRIS, DIXIE E. 48 7188 MULLENS, DENNIS W. 184 3105 NAPIER, LONNIE 196 01102 ONEAL, TEDDY 46 5188 OSBURN, TROY 81 02101 PHILLIPS,LARRY 203 02/08 PIERCE, JOEY 53 2/89 POAGE, LARRY 186 06105 REAGAN, PETE 201 A02/08 REED, JUNE 41 9/85 SCHADER,TROY 190 04/06 SHACKELFORD, GLEN 36 5(76 SPRINGSTON, CARL 90 03/02 STOUT, IMOGENE W. 165 12102 TATE,RALPH 65 3/66 TUNE, BILLIE SUE 71 1100 WARFORD,THOMAS 88 01/02 WOOD,RONNIED 208 9188 WRIGHT, Barbara Regular Mo Year To Date Benefit Reg Benefit 7/31/2014 KAFire PensioMPension ListlPension List 20141FP 100114 WM 2,618.55 26,185.50 1,802.08 18,020.80 109.27 1,092.70 2,988.76 29,887.60 2,477.42 24,774.20 2,089.28 20,892.80 1,647.63 16,476.30 1,788.90 17,889.00 109.27 1,092.70 5,376.91 53,769.10 731.61 7,316.10 998.86 9,988.60 4,155.36 41,553.60 0.00 8,840.60 1,768.12 8,840.60 3,816.75 38,167.50 141.37 1,413.70 2,596.69 25,966.90 0.00 546.35 109.27 1,092.70 1,788.75 17,887.50 1,788.76 17,887.60 3,073.47 30,734.70 O.DD 4,549.90 2,274.95 18,199.60 1,647.63 16,476.30 1,522.37 15,223.70 1,711.21 17,112.10 3,775.80 37,758.00 1,647.63 16,476.30 2,868.28 28 682.80 4,077.28 40,772.80 1,631.25 16,312.50 1,753.74 17,537.40 109.27 1,092.70 1,334.51 13,345.10 1,304.07 13,040.70 3,180.02 31,800.20 170.60 1,706.00 109.27 1,092.70 125.66 1,256.60 2,191.30 21,913.00 3,518.28 35,182.80 4,120.99 41,209.90 1,899.66 18,996.60 2,765.09 27,650.90 3,647.18 36,471.80 2,346.70 23,467.00 3,535.71 35,357.10 109.27 1,092.70 1,524.99 15,249.90 3,647.18 36,471.80 806.19 8,061.90 767.80 7,678.00 3,668.10 36,681.00 136.59 1,365.90 2,502.72 25,027.20 3,077.15 30,771.50 1,691.34 16,913.40 113,176.86 1,132,314.95 DATE OF Regular Mo Year To Date EMP#RETIREMENT NAME Benefit Reg Benefit 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 , NOTARY PUBLIC MY COMMISSION EXPIRES: 7/31/2014 KAFire PensionPension List\Pension List 2014TP 100114 WM FIRcMEN'S RELIEF AND PENSION June 6 4 2014 4 6 1 6 THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTED ABOVE YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED. 7/31/2014 K:%Flre PensionlPension Ust%Pension List 2014TP 060114 Revised 073114 WM DATE OF Regular Mo Year To Date Act 1373 EMP# RETIREMENT NAME Benefit Reg Benefit Future Supplement 177 4/04 BACHMAN, EDDIE 2,618.55 15,711.30 74 3/86 BAIRD. JULIA 1,802.08 10,812.48 63 5172 BOLAIN, ANN 109.27 655.62 ' 68 7/99 BONADUCE, MICHAEL 2,988.76 17,932.56 44 9/86 BOUDREY, BETTY MRS. 2,477.42 14,864.52 45 9/86 80UDREY, HOWARD 2,089.28 12,535.68 49 7/88 BOUDREY, JACK 1,647.63 9,885.78 57 5/90 CATE. ROY 1,788.90 10,733.40 6 4/68 CHRISTIE, ARNOLD 109.27 655.62 188 12/05 DOSS, MARION H 5,376.91 32.261.46 188 12/05 DOSS. MARION H plus 25 additional pay 731.61 4,389.66 11 2776 FARRAR,ALONZO 998.86 5,993.16 192 4/06 FARRAR. DANNY 4,155.36 24,932.16 , 38 5/84 FRALEY. JOSEPH G. deceased 5/04 0.00 8,840.60 220 5/84 FRALEY. LORA D. 1,768.12 1,768.12 170 5/03 FREEDLE, LARRY 3,816.75 22,900.50 170 5/03 FREEDLE, LARRY plus 25 additional pay 141.37 848.22 92 03/02 GAGE,TOMMY 2,596.69 15,580.14 34 6179 HARRIS, JAMES E. deceased 5/16 0.00 546.35 70 11/99 HARRIS, MARY RUTH 109.27 655.62 182 10104 JENKINS, EILEEN 1,788.75 10,732.50 93 06/02 JENKINS, JOHN 1,788.76 10,732.56 86 07/01 JOHNSON,ROBERT 3,073.47 18,440.82 64 4/95 JORDAN, CHARLIE deceased 2/04 0.00 4,549.90 219 4/95 JORDAN, SANDRA K - 2,274.95 9,099.80 76 5/88 JUDY, JAN 1,647.63 9,885.78 37 3/84 KING, ARNOLD D. 1,522.37 9,134.22 54 5/89 KING, ARVIL 1,711.21 10.267.26 173 12/03 LEDBETTER, DENNIS 3,775.80 22,654.80 51 10/88 LENS, CHARLES 1,647.63 9,885.78 40 9/85 LOGUE, PAUL D. 2,868.28 17,209.68 202 02/08 MAHAN, MARSHALL 4,077.28 24,463.68 50 9/88 MASON, LARRY 1,631.25 9,787.50 39 4185 MC ARTHUR, RONALD A. 1,753.74 10,522.44 35 2/82 MC CHRISTIAN, DWAYNE 109.27 1 655.62 15 4n7 MC WHORTER, CHARLES 1,334.51 8,007.06 209 8/81 MILLER, ALICE GAYLE 1,304.07 7,824.42 73 2/00 MILLER,KENNETH 3,180.02 19,080.12 73 2/00 MILLER,KENNETH plus 25 additional pay 170.60 1,023.60 217 2/86 MOORE, BETTY L 109.27 655.62 176 4/04 MORRIS, DIXIE E. 125.66 753.96 48 7/88 MULLENS, DENNIS W. 2.191.30 13,147.80 184 3105 NAPIER, LONNIE 3,518.28 21,109.68 196 01/02 ONEAL, TEDDY 4,120.99 24,725.94 46 5/88 OSBURN, TROY 1,899.66 11,397.96 81 02/01 PHILUPS.LARRY 2,765.09 16,590.54 203 02/08 PIERCE, JOEY 3,647.18 21,883.08 53 2/89 POAGE, LARRY 2,346.70 14,080.20 186 06/05 REAGAN, PETE 3,535.71 21,214.26 201 "02/08 REED, JUNE 109.27 655.62 41 9/85 SCHADER, TROY 1,524.99 9,149.94 190 04106 SHACKELFORD, GLEN 3,647.18 21,883.08 36 5/76 SPRINGSTON, CARL 806.19 4,837.14 90 03/02 STOUT, IMOGENE W. 767.80 4,606.80 165 12102 TATE, RALPH 3,668.10 22,008.60 65 3/66 TUNE, BILLIE SUE 136.59 819.54 71 1/00 WARFORD,THOMAS 2,502.72 15,016.32 88 01/02 WOOD,RONNIE D 3,077.15 18,462.90 208 9/88 WRIGHT, Barbara 1,691.34 10,148.04 113,176.86 679,607.51 7/31/2014 K:%Flre PensionlPension Ust%Pension List 2014TP 060114 Revised 073114 WM DATE OF EMP#RETIREMENT NAME Regular Mo Year To Date AV 1373 Benefit Reg Benefit Future Supplement _, THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE QST 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 4T EXCEED THE AMOUNT ALLOWED BY LAW OR THE CUSTOMARY CHARGE FOR MILAR SERVICES OR SUPPLIES SECRETARY ACKNOWLEDGEMENT V STATE OF ARKANSAS ) COUNTY OF WASHINGTON) SWORN TO AND SUBSCRIBED BEFORE ME THIS til DAY OF(,�I� NOTARY PUBLIC MY COMMISSION EXPIRES: V /^d' /)m1/j 7/31/2014 K1Fim PensionXPenslon UstlPension List 2014tFP 060114 Revised 073114 WM 0.00 aOTAR), p® G FIREMEN'S RELIIe( AND PENSION July 7 7 2014 5 7 2 7 THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTED ABOVE YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED, Regular No Year To Date Act 1373 Benefit Reg Benefit Future Supplement 2,618.55 DATE OF 1235.00 EMP# RETIREMENT NAME 177 4/04 BACHMAN, EDDIE 74 3/86 . BAIRD, JULIA 63 5/72 BOLAIN, ANN 68 7/99 BONADUCE, MICHAEL 44 9/86 BOUDREY, BETTY MRS. 45 9/86 BOUDREY, HOWARD 49 7/88 BOUDREY, JACK 57 5/90 CATE, ROY 6 4/68 CHRISTIE. ARNOLD 188 12/05 DOSS, MARION H 188 12105 DOSS, MARION H plus 25 additional pay 11 2176 FARRAR,ALONZO 192 4/06 FARRAR, DANNY 38 504 FRALEY, JOSEPH G. deceased 5/04 220 5/84 FRALEY, LORA D. 170 5/03 FREEDLE. LARRY 170 5/03 FREEDLE, LARRY plus 25 additional pay 92 03/02 GAGE,TOMMY 34 6/79 HARRIS, JAMES E. deceased SM6 70 11/99 HARRIS, MARY RUTH 182 10/04 JENKINS, EILEEN 93 06/02 JENKINS, JOHN 86 07/01 JOHNSON,ROBERT 64 4195 JORDAN, CHARLIE deceased 2/04 219 4/95 JORDAN, SANDRA K 76 5/88 JUDY, JAN 37 3/84 KING. ARNOLD D. 54 5/89 KING, ARVIL 173 12/03 LEDBETTER, DENNIS 51 10/88 LEWIS. CHARLES 40 9/85 LOGUE. PAUL D. 202 02108 MAHAN. MARSHALL 50 9/88 MASON, LARRY 39 4/85 MC ARTHUR, RONALD A. 35 2/82 MC CHRISTIAN, DWAYNE 15 4/77 MC WHORTER, CHARLES 209 8/81 MILLER, ALICE GAYLE 73 2/00 MILLER,KENNETH 73 2100 MILLER,KENNETH plus 25 additional pay 217 2/86 MOORE, BETTY L 176 4/04 MORRIS, DIXIE E. 48 7/88 MULLENS, DENNIS W. 184 3/05 NAPIER, LONNIE 196 01/02 ONEAL, TEDDY 46 5/88 OSBURN, TROY 81 02/01 PHILLIPS,LARRY 203 02/08 PIERCE. JOEY 53 2/89 POAGE, LARRY 186 06/05 REAGAN, PETE, 201 ^02/08 REED, JUNE 41 9/85 SCHADER, TROY 190 04/06 SHACKELFORD, GLEN 36 5/76 SPRINGSTON, CARL 90 03/02 STOUT, IMOGENE W. 165 12/02 TATE, RALPH 65 3/66 TUNE, BILLIE SUE 71 1/00 WARFORD,THOMAS 88 01/02 WOOD,RONNIED 208 9/88 WRIGHT. Barbara Regular No Year To Date Act 1373 Benefit Reg Benefit Future Supplement 2,618.55 18,329.85 1235.00 1,802.08 12,614.56 1235.00 109.27 764.89 247.00 2,988.76 20,921.32 1235.00 2,477.42 17,341.94 1235.00 2,089.28 14,624.96 1235.00 1,647.63 11,533.41 1235.00 1,788.90 12,522.30 1235.00 109.27 764.89 247.00 5,376.91 37,638.37 1235.00 731.61 5,121.27 998.86 6,992.02 1235.00 4,155.36 29,087.52 1235.00 0.00 8,840.60 1,768.12 3,536.24 1235.00 3,816.75 26,717.25 1235.00 141.37 989.59 2.596.69 18,176.83 1235.00 0.00 546.35 109.27 764.89 247.00 1,788.75 12,521.25 1,788.76 12,521.32 1235.00 3,073.47 21,514.29 1235.00 0.00 4,549.90 2,274.95 11.374.75 1235.00 1,647.63 11,533.41 1235.00 1.522.37 10, 656.59 1235.00 1,711.21 11,978.47 1235.00 3,775.80 26,430.60 1235.00 1,64 7.63 11, 533.41 1235.00 2,868.28 20,077.96 1235.00 4,077.28 28,540.96 1235.00 1,631.25 11,418.75 1235.00 1,753.74 12,276.18 1235.00 109.27 764.89 247.00 1.334.51 9.341.57 1235.00 1,304.07 9,128.49 1235.00 3,180.02 22.260.14 1235.00 170.60 1,194.20 109.27 764.89 247.00 125.66 879.62 247.00 2,191.30 15, 339.10 1235.00 3,518.28 24,627.96 1235.00 4,120.99 28,846.93 1235.00 1,899.66 13.297.62 1235.00 2,765.09 19,355.63 1235.00 3,647.18 25,530.26 1235.00 2,346.70 16,426.90 1235.00 3,535.71 24,749.97 1235.00 109.27 764.89 247.00 1,524.99 10,674.93 1235.00 3,647.18 25,530.26 1235.00 806.19 5,643.33 1235.00 767.80 5,374.60 1235.00 3,668.10 25,676.70 1235.00 136.59 956.13 247.00 2,502.72 17,519.04 1235.00 3,077.15 21,540.05 1235.00 1,691.34 11,839.38 1235.00 113.176.86 792.784.37 56,316.00 7/31/2014 K:Tfe Pension9ension UstlPension List 2014TP 070114 Revised 073114 WM &;.1-j 7131/2014 /.1- DATE OF EMP# RETIREMENT NAME Regular Me ' Year To Dale Act 1373 Benefit Reg Benefit Future Supplement THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE ST 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 F SIMILAR SERVICES OR SUPPLIES / jouz^, SECRETARY ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON) 2 1'' I I SWORN TO AND SUBSCRIBED BEFORE ME THIS y1LDAY OF y�y�� qWr) N R' PUBLIC 111 MY COMMISSION EXPIRES: I ' —9�'h 7/31/2014 K:1Fire PensionlPension Ust'Pension List 2014WP 070114 Revised 073114 WM 247.00 56563.00 56563.00 aOTAR), 400. PUBL\G 0.00 FIREMEN'S RELIEF AND PENSION August ! 8 8 2014 6 8 3 8 THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTEI YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED. Regular Mo Year To Date Benefit Reg Benefit 7/31/2014 K:Tim PensionTenslon Ust7ension List 2014TP 080114 WM 2,618.55 20,948.40 1,802.08 14,416.64 109.27 874.16 2,988.76 23,910.08 2,477.42 19,819.36 2,089.28 16,714.24 1,647.63 13,181.04 1,788.90 14,311.20 109.27 874.16 5,376.91 43,015.28 731.61 5,852.88 998.86 7,990.88 4,155.36 33,242.88 0.00 8,840.60 1,768.12 5,304.36 3,816.75 30,534.00 141.37 1,130.96 2.596.69 20,773.52 0.00 546.35 109.27 874.16 1,788.75 14,310.00 1,788.76 14,310.08 3,073.47 24,587.76 0.00 4,549.90 2,274.95 13,649.70 1,647.63 13,181.04 1,522.37 12,178.96 1,711.21 13,689.68 3,775.80 30,206.40 1,647.63 13,181.04 2,868.28 22,946.24 4,077.28 32,618.24 1,631.25 13,050.00 1,753.74 14,029.92 109.27 874.16 1,334.51 10,676.08 1,304.07 10,432.56 3,180.02 25.440.16 170.60 1,364.80 109.27 874.16 125.66 1,005.28 2,191.30 17,530.40 3,518.28 28,146.24 4,120.99 32,967.92 1,899.66 15,197.28 2,765.09 22,120.72 3,647.18 29,177.44 2,346.70 18,773.60 3,535.71 28,285.68 109.27 874.16 1,524.99 12,199.92 3,647.18 29,177.44 806.19 6,449.52 767.80 6,142.40 3,668.10 29,344.80 136.59 1,092.72 2,502.72 20,021.76 3,077.15 24,617.20 1,691.34 13,530.72 113,176.86 905,961.23 DATE OF EMP#RETIREMENT NAME 177 4/04 BACHMAN. EDDIE 74 3/86 BAIRD, JULIA 63 5/72 BOLAIN, ANN 68 7/99 BONADUCE, MICHAEL 44 9/86 BOUDREY, BETTY MRS. 45 9/86 BOUDREY, HOWARD 49 7/88 BOUDREY, JACK 57 5/90 CATE, ROY 6 4/68 CHRISTIE, ARNOLD 188 12/05 DOSS, MARION H 188 12105 DOSS, MARION H plus 25 additional pay 11 2176 FARRAR,ALONZO 192 4106 FARRAR, DANNY 38 5/84 FRALEY, JOSEPH G. deceased 5/04 220 5/84 FRALEY. LORA D. 170 5103 FREEDLE, LARRY 170 5/03 FREEDLE, LARRY plus 25 additional pay 92 03/02 GAGE,TOMMY 34 6/79 HARRIS. JAMES E. deceased 5/16 70 11/99 HARRIS, MARY RUTH 182 10/04 JENKINS, EILEEN 93 06/02 JENKINS, JOHN 86 07/01 JOHNSON,ROBERT 64 4/95 JORDAN, CHARLIE deceased 2/04 219 4/95 JORDAN, SANDRA K 76 5/88 JUDY, JAN 37 3184 KING, ARNOLD D. 54 5/89 KING, ARVIL 173 12103 LEDBETTER, DENNIS 51 10/88 LEWIS. CHARLES 40 9/85 LOGUE. PAUL 0. 202 02/08 MAHAN. MARSHALL 50 9/88 MASON, LARRY 39 4/85 MC ARTHUR, RONALD A. 35 2182 MC CHRISTIAN, DWAYNE 15 4/77 MC WHORTER, CHARLES 209 8/81 MILLER, ALICE GAYLE 73 2/00 MILLER,KENNETH 73 2/00 MILLER,KENNETH plus 25 additional pay 217 2/86 MOORE, BETTY L 176 4104 MORRIS. DIXIE E. 48 7/88 MULLENS, DENNIS W. 184 3/05 NAPIER, LONNIE 196 01102 ONEAL, TEDDY 46 5188 OSBURN, TROY 81 02/01 PHILLIPS,LARRY ' 203 02/08 PIERCE, JOEY 53 2/89 POAGE, LARRY 186 06105 REAGAN, PETE 201 "02/08 REED, JUNE 41 9/85 SCHADER, TROY 190 04/06 SHACKELFORD, GLEN 36 5/76 SPRINGSTON, CARL 90 03/02 STOUT, IMOGENE W. 165 12/02 TATE,RALPH 65 3/66 TUNE, BILLIE SUE 71 1/00 WARFORD,THOMAS 88 01/02 WOOD,RONNIE D 208 9/88 WRIGHT. Barbara Regular Mo Year To Date Benefit Reg Benefit 7/31/2014 K:Tim PensionTenslon Ust7ension List 2014TP 080114 WM 2,618.55 20,948.40 1,802.08 14,416.64 109.27 874.16 2,988.76 23,910.08 2,477.42 19,819.36 2,089.28 16,714.24 1,647.63 13,181.04 1,788.90 14,311.20 109.27 874.16 5,376.91 43,015.28 731.61 5,852.88 998.86 7,990.88 4,155.36 33,242.88 0.00 8,840.60 1,768.12 5,304.36 3,816.75 30,534.00 141.37 1,130.96 2.596.69 20,773.52 0.00 546.35 109.27 874.16 1,788.75 14,310.00 1,788.76 14,310.08 3,073.47 24,587.76 0.00 4,549.90 2,274.95 13,649.70 1,647.63 13,181.04 1,522.37 12,178.96 1,711.21 13,689.68 3,775.80 30,206.40 1,647.63 13,181.04 2,868.28 22,946.24 4,077.28 32,618.24 1,631.25 13,050.00 1,753.74 14,029.92 109.27 874.16 1,334.51 10,676.08 1,304.07 10,432.56 3,180.02 25.440.16 170.60 1,364.80 109.27 874.16 125.66 1,005.28 2,191.30 17,530.40 3,518.28 28,146.24 4,120.99 32,967.92 1,899.66 15,197.28 2,765.09 22,120.72 3,647.18 29,177.44 2,346.70 18,773.60 3,535.71 28,285.68 109.27 874.16 1,524.99 12,199.92 3,647.18 29,177.44 806.19 6,449.52 767.80 6,142.40 3,668.10 29,344.80 136.59 1,092.72 2,502.72 20,021.76 3,077.15 24,617.20 1,691.34 13,530.72 113,176.86 905,961.23 SATE OF EMP4 RE-TIREMEN7 NAME Regular Mo Year To Date Benefit Reg Benefit E. THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE 1ST AND CORRECT; THAT NO PART THEREOF HAS BEEN PREVIOUSLY PAID; THAT IHE 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 F SIMILAR SERVICES OR SUPPLIES 11 .1 E. N"""" SECRETARY ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON) SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF / I� NOTAR UBLIC MY COMMISSION EXPIRES: U d4/an3 7/31/2014 K:1Fire PensionlPension Um%Pensien List 2014WP 080114 WM NOTAgy, Pu® FIREMEN'S RELIEF AND PENSION September (t 9 9 2014 / 7 9 4 9 THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTEI YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN. AND FOR THE PURPOSE SO STATED. DATE OF EMP# RETIREMENT NAME 177 4/04 BACHMAN, EDDIE 74 3/86 BAIRD. JULIA 63 5/72 BOLAIN. ANN 68 7/99 BONADUCE, MICHAEL 44 9/86 BOUDREY, BETTY MRS. '45 9/86 BOUDREY, HOWARD 49 7/88 SOUDREY, JACK 57 5190 CATE; ROY 6 4/68 CHRISTIE, ARNOLD 188 12105 DOSS, MARION H 188 12/05 DOSS, MARION H plus 25 additional pay 11 2/76 FARRAR,ALONZO 192 4106 FARRAR, DANNY 38 5184 FRALEY. JOSEPH G. deceased 5/04 220 5/84 FRALEY, LORA D. 170 5103 FREEDLE. LARRY 170 5103 FREEDLE, LARRY plus 25 additional pay 92 03102 GAGE,TOMMY 34 6179 HARRIS, JAMES E. deceased 5/16 70 11/99 HARRIS, MARY RUTH 182 10/04 JENKINS, EILEEN 93 06102 JENKINS, JOHN 86 07/01 JOHNSON,ROBERT 64 455 JORDAN, CHARLIE deceased 2104 219 455 JORDAN, SANDRA 76 5/88 JUDY, JAN 37 3/84 KING, ARNOLD D. 54 5/89 KING. ARVIL 173 12/03 LEDBETTER, DENNIS 51 10/88 LEWIS, CHARLES 40 9185 LOGUE, PAUL D. 202 02/08 MAHAN, MARSHALL 50 9188 MASON, LARRY ' 39 4/85 MC ARTHUR, RONALD A. 35 2182 MC CHRISTIAN, DWAYNE 15 4/77 MC WHORTER, CHARLES 209 8181 MILLER, ALICE GAYLE 73 2/00 MILLER,KENNETH 73 2/00 MILLER,KENNETH plus 25 additional pay 217 2186 MOORE, BETTY L 176 4/04 MORRIS. DIXIE E. 48 7/88 MULLENS, DENNIS W. 184 3105 NAPIER, LONNIE 196 01/02 ONEAL. TEDDY 46 5/88 OSSURN, TROY 81 02/01 PHILLIPS,LARRY 203 02/08 PIERCE, JOEY 53 2189 POAGE, LARRY 186 0655 REAGAN,PETE 201 "02/08 REED, JUNE 41 9/85 SCHADER, TROY 190 04/06 SHACKELFORD. GLEN 36 5176 SPRINGSTON, CARL 90 03/02 STOUT, IMOGENE W. 165 12102 TATE, RALPH ' 65 3/66 TUNE. BILLIE SUE 71 1/00 WARFORD,THOMAS 88 01/02 WOOD,RONNIE D 208 9/88 WRIGHT, Barbara Regular Mo Year To Date Benefit Reg Benefit 7131/2014 K3Fire Pension'Penslon UstlPenslon List 2014TP 090114 WM 2,618.55 23,566.95 1,802.08 16,218.72 109.27 983.43 2,988.76 26,898.84 2,477.42 22,296.78 2,089.28 18,803.52 1,647.63 14,828.67 1,788.90 16,100.10 109.27 983.43 5,376.91 48,392.19 731.61 6,584.49 998.86 8,989.74 4,155.36 37,398.24 0.00 8,840.60 1,768.12 7,072.48 3,816.75 34,350.75 141.37 1,272.33 2,596.69 23,370.21 0.00 546.35 109.27 983.43 1,788.75 16.098.75 1,788.76 16,098.84 3,073.47 27,661.23 0.00 '4,549.90 2,274.95 15,924.65 1,647.63 14,828.67 1,522.37 13,701.33 1,711.21 15,400.89 3,775.80 33,982.20 1,647.63 14,828.67 2,868.28 25,814.52 4,077.28 36,695.52 1,631.25 14,681.25 1,753.74 15,783.66 109.27 983.43 1,334.51 12,010.59 1,304.07 11,736.63 3,180.02 28,620.18 170.60 1,535.40 109.27 983.43 125.66 1,130.94 2,191.30 19,721.70 3,518.28 31,664.52 4,120.99 37,088.91 1,899.66 17,096.94 2,765.09 24,885.81 3,647.18 32,824.62 2,346.70 21,120.30 3,535.71 31,821.39 109.27 983.43 1,524.99 13,724.91 3,647.18 32,824.62 806.19 7,255.71 767.80 6,910.20 3,668.10 33,012.90 136.59 1,229.31 2.502.72 22,524.48 3,077.15 27,694.35 1,691.34 15,222.06 113,176.86 1,019,138.09 DATE OF EMP# RETIREMENT NAME t Regular Mo Year To Dale Benefit Reg Benefit THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE ST 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 DON T EXCEED THE AMOUNT ALLOWED BY LAW OR THE CUSTOMARY CHARGE FOR ILAR SERVICES OR SUPPLIES 0 SECRETARY C IRMAN AND EN ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON) ///l����I r I I1 ISI SWORN TO AND SUBSCRIBED BEFORE ME THIS QDAY OFA- vl \\\���ILMCCd \\ Q ...Is 61 g••••• NOTAgy NO AR PUBLIC D MV COMMISSION EXPIRES: y PUDL, L/w•f_ 7/31/2014 K:Tire Pension%Pension UsttPension List 2014WP 090114 WM Rwi S&d FIREY-EtVU RELIEF AND PENSION October 10 10 2014 8 10 5 10 THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTEI YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN. AND FOR THE PURPOSE SO STATED. Regular Mo Year To Date Benefit Reg Benefit 2,618.55 26,185.50 1.802.08 18.020.80 109.27 DATE OF 2,988.76 EMP# RETIREMENT NAME 177 4/04 BACHMAN. EDDIE 74 3186 BAIRD. JULIA 63 5/72 BOLAIN, ANN 68 7/99 BONADUCE, MICHAEL 44 9/86 BOUDREY, BETTY MRS. 45 9/86 BOUDREY, HOWARD 49 7/88 BOUDREY, JACK 57 5/90 CATE, ROY 6 4/68 CHRISTIE, ARNOLD deceased 9/19 188 12/05 DOSS, MARION H 188 12105 DOSS, MARION H plus 25 additional pay 11 2/76 FARRARALONZO 192 4106 FARRAR, DANNY 38 5/84 FRALEY. JOSEPH G. deceased 5/04 220 5/84 FRALEY, LORA D. 170 5/03 FREEDLE, LARRY 170 5/03 FREEDLE. LARRY plus 25 additional pay 92 03/02 GAGE,TOMMY 34 6779 HARRIS, JAMES E. deceased 5/16 70 11199 HARRIS, MARY RUTH 182 10/04 JENKINS, EILEEN 93 06/02 JENKINS, JOHN 86 07/01 JOHNSON,ROBERT 64 4195 JORDAN, CHARLIE deceased 2/04 219 4/95 JORDAN, SANDRA K 76 5/88 JUDY, JAN 37 3/84 KING, ARNOLD D. 54 5/89 KING. ARVIL 173 12/03 LEDBETTER, DENNIS 51 10/88 LEWIS. CHARLES 40 9/85 LOGUE. PAUL D. 202 02/08 MAHAN. MARSHALL 50 9/88 MASON, LARRY 39 4/85 MC ARTHUR, RONALD A. 35 2/82 MC CHRISTIAN, DWAYNE 15 4777 MC WHORTER, CHARLES 209 8/81 MILLER, ALICE GAYLE 73 2700 MILLER,KENNETH 73 2100 MILLER,KENNETH plus 25 additional pay 217 2/86 MOORE, BETTY L 176 4/04 MORRIS, DIXIE E. 48 7/88 MULLENS, DENNIS W. 184 3/05 NAPIER, LONNIE 196 01/02 ONEAL, TEDDY 46 5/88 OSBURN, TROY 81 02/01 PHILLIPS,LARRY 203 02/08 PIERCE, JOEY 53 2/89 POAGE. LARRY 186 06/05 REAGAN, PETE 201 ^02/08 REED, JUNE 41 9/85 SCHADER, TROY 190 04/06 SHACKELFORD, GLEN 36 5/76 SPRINGSTON, CARL 90 03102 STOUT, IMOGENE W. 165 12/02 TATE, RALPH 65 3/66 TUNE, BILLIE SUE 71 1/00 WARFORD,THOMAS 88 01/02 WOOD,RONNIED 208 9/88 WRIGHT, Barbara Regular Mo Year To Date Benefit Reg Benefit 2,618.55 26,185.50 1.802.08 18.020.80 109.27 1,092.70 2,988.76 29,887.60 2,477.42 24,774.20 2,089.28 20,892.60 1,647.63 16,476.30 1,788.90 17,889.00 0.00 983.43 5,376.91 53,769.10 731.61 7,316.10 998.86 9,988.60 4,155.36 41,553.60 0.00 8,840.60 1,768.12 8,840.60 3,816.75 38,167.50 141.37 1,413.70 2,596.69 25,966.90 0.00 546.35 109.27 1,092.70 1,788.75 17,887.50 1,788.76 1707.60 3,073.47 30,734.70 0.00 4,549.90 2,274.95 18,199.60 1,647.63 16,476.30 1,522.37 15,223.70 1,711.21 17,112.10 3,775.80 37,758.00 1,647.63 16,476.30 2.868.28 28,682.80 4,077.28 40,772.80 1,631.25 16,312.50 1,753.74 17,537.40 109.27 1,092.70 1,334.51 13,345.10 1,304.07 13,040.70 3,180.02 31,800.20 170.60 1,706.00 109.27 1,092.70 125.66 1,256.60 2,191.30 21,913.00 3,518.28 35,182.80 4,120.99 41,209.90 1,899.66 18,996.60 2,765.09 27,650.90 3,647.16 36,471.80 2,346.70 23,467.00 3,535.71 35,357.10 109.27 1,092.70 1,524.99 15,249.90 3,647.18 36,471.80 806.19 8,061.90 767.80 7,678.00 3,668.10 36,681.00 136.59 1,365.90 2,502.72 25,027.20 3,077.15 30,771.50 1,691.34 16,913.40 113 067.59 1,132,205.68 2/19/2015 K:1F1re PenslonTension LisllPension List 20141FP 100114 Revised WM _ DATE OF Regular Mo Year To Date EM�PO RETIREMENT NAME Benefit Reg Benefit THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE 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 CHARGEFQR SIMILAR SERVICES OR SUPPLIES 7 ECRETARY ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON) SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF t iMN� 2/19/2015 K:1Fire PensionlPension UstlPenslon List 20141FP 100114 Revised WM ���NpTAq� _a NOTARY PUBLIC�D i n'all��n�2puB�,o MV COMMISSION EXPIRES: LP (� U,,W3 ��i �F i�yC ,Pkat 6-2�-; seto-seto-ssssoo 0'w 1132205.68 fiet6s810-SVSos 0.00 12635.69 D W PeyuuNNmat COecxus to D" R,theea, 0.00 Yrocoluuut am Difference 0.00 "(should be off Supplemental al 2/19/2015 K:1Fire PensionlPension UstlPenslon List 20141FP 100114 Revised WM FIREMEN'S RF)EF AND PENSION October /. 10 10 2014 8 10 5 10 THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTEI YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES. IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED. DATE OF EMP# RETIREMENT NAME 177 4/04 BACHMAN. EDDIE 74 3/86 BAIRD, JULIA 63 5/72 BOLAIN, ANN 68 7/99 BONADUCE. MICHAEL 44 9/86 BOUDREY, BETTY MRS. 45 9/86 BOUDREY, HOWARD 49 7/88 BOUDREY, JACK 57 5/90 CATE, ROY 6 4/68 CHRISTIE, ARNOLD 188 12/05 DOSS, MARION H 188 12/05 DOSS, MARION H plus 25 additional pay 11 2/76 FARRAR,ALONZO 192 4/06 FARRAR, DANNY 38 5/84 FRALEY, JOSEPH G. deceased 5104 220 5/84 FRALEY, LORA D. 170 5/03 FREEDLE, LARRY 170 5/03 FREEDLE, LARRY plus 25 additional pay 92 03/02 GAGE,TOMMY 34 BOB HARRIS, JAMES E. deceased 5/16 70 11/99 HARRIS, MARY RUTH 182 10/04 JENKINS, EILEEN 93 06/02 JENKINS, JOHN 86 07/01 JOHNSON,ROBERT 64 4/95 JORDAN, CHARLIE deceased 2/04 219 4/95 JORDAN, SANDRA K 76 5/88 JUDY, JAN 37 3/84 KING. ARNOLD D. 54 5/89 KING, ARVIL 173 12103 LEDBETTER, DENNIS 51 10/88 LEWIS. CHARLES 40 9/85 LOGUE. PAUL D. 202 02/08 MAHAN, MARSHALL 50 9/88 MASON, LARRY 39 4/85 MC ARTHUR, RONALD A. 35 2/82 MC CHRISTIAN, DWAYNE 15 4/77 MC WHORTER, CHARLES 209 8/81 MILLER, ALICE GAYLE 73 2/00 . MILLER,KENNETH 73 2700 MILLER,KENNETH plus 25 additional pay 217 2186 MOORE, BETTY L 176 4/04 MORRIS, DIXIE E. 48 7188 MULLENS. DENNIS W. 184 3105 NAPIER, LONNIE 196 01702 ONEAL, TEDDY 46 5/88 OSSURN, TROY 81 02101 PHILLIPS,IARRY 203 02108 PIERCE, JOEY 53 2189 POAGE, LARRY 186 06/05 REAGAN, PETE 201 A02/08 REED, JUNE 41 9/85 SCHADER, TROY 190 04106 SHACKELFORD, GLEN 36 5/76 SPRINGSTON, CARL 90 03/02 STOUT. IMOGENE W. 165 12702 TATE, RALPH 65 3/66 TUNE, BILLIE SUE 71 1100 WARFORD,THOMAS 88 01102 WOOD,RONNIE0 208 9188 WRIGHT. Barbara Regular Mo Year To Date Benefit Reg Benefit 7/31/2014 K:1Fire PenslonTension ListTension List 2014TP 100114 WM 2,618.55 26,185.50 1,802.08 18,020.80 109.27 1,092.70 2,988.76 29,887.60 2,477.42 24,774.20 2,089.28 20,892.80 1,647.63 16,476.30 1,788.90 17,889.00 109.27 1,092.70 5,376.91 53,769.10 731.61 7,316.10 998.86 9,988.60 4,155.36 41,553.60 0.00 8,840.60 1,768.12 8,840.60 3,816.75 38,167.50 141.37 1,413.70 2,596.69 25,966.90 0.00 546.35 109.27 1,092.70 1,788.75 17,887.50 1,788.76 17,887.60 3,073.47 30,734.70 0.00 4,549.90 2,274.95 16,199.60 1,647.63 16,476.30 1,522.37 15,223.70 1,711.21 17,112.10 3,775.80 37,758.00 1,647.63 16,476.30 2,868.28 28.682.80 4,077.28 40,772.80 1,631.25 16,312.50 1,753.74 17,537.40 109.27 1,092.70 1,334.51 13,345.10 1,304.07 13,040.70 3,180.02 31,800.20 170.60 1,706.00 109.27 1,092.70 125.66 1,256.60 2,191.30 21,913.00 3,518.28 35,182.80 4,120.99 41,209.90 1,899.66 18,996.60 2,765.09 27,650.90 3,647.18 36,471.80 2,346.70 23,467.00 3,535.71 35,357.10 109.27 1,092.70 1,524.99 15,249.90 3,647.18 36,471.80 806.19 8,061.90 767.80 7,678.00 3,668.10 36,681.00 136.59 1,365.90 2,502.72 25,027.20 3,077.15 30,771.50 1,691.34 16,913.40 113,176.86 1,132.314.95 l ATE OF EMP#RFTIREMEN7 NAME .f Regular Mo Year To Date Benefit Reg Benefit E, THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE IST 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 MF EXCEED THE AMOUNT ALLOWED BY LAW OR THE CUSTO SERVICES OR SUPPLIES SECRETARY ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON) SWORN TO AND SUBSCRIBED BEFORE ME THIS IN DAY OF bo NOTARY PUBLIC MY COMMISSION EXPIRES: U -A -Z 7/31/2014 K:Tlm PensionlPension LietlPension List 2014TP 100114 NIM NOTARY pV®G, Book Value Total Reserve Assets' $ 3,389,841.14 $ 3,668,717.01 $ 4,107,688.38 $ 4,534,054.00 $ 5,085,750.74 $ 5,441,627.54 $ 6,061,155.44 $ 7,486,396.00 $ Market Value Total Reserve Assets $ 4,344,066.01 $ 4,534,331.93 $ 4,641,004.55 $ 4,877,238.82 $ 5,554,763.66 $ 5,759,825.37 $ 5,823,183.74 $ 8,216,644.00 $ 'Assets less any liabilities " Market Value calculated at year end 7/31/2014 C:\UsemXssmithWppData\LomhMicrosoft\Wndo \Temporary Internet Files\Content.OU00ok\CP4WB27V\Fire Pension Summary 7,847,697.00 $ 8,202,070.00 8,573,123.00 $ 8,647,034.00 Fire Pension Fund Revenue Expense Summary 6/30/2014 12/31/2013 2012 2011 2010 2009 2008 2007 2006 2005 Revenues: Employee Contributions $ - $ - $ - $ - $ - $ _ $ 1,356.43 $ 6,987.00 $ 11,863.00 $ 23,439.00 Employer Contributions $ - $ - $ - $ - $ - $ - $ 2,712.85 $ 13,973.00 $ 25,852.00 $ 46,678.00 State Insurance Tax 11; - $ 220,080.96 $ 229,129.75 $ 131,537.45 $ 122,964.58 $ 125,710.67 $ 146,031.32 $ 150,067.00 $ 151,560.00 $ 225,492.00 Local Millage(A mills) $ 213,484.37 $ 494,749.58 $ 511,961.22 $ 498,380.57 $ 508,192.08 $ 485,345.06 $ 441,696.50 $ 388,877.00 $ 370,649.00 $ 339,416.00 Interest and Dividends $ 60,750.20 $ 138,740.86 $ 162,108.46 $ 171,812.69 $ 177,926.35 $ 179,204.26 $ 265,704.47 $ 292,444.00 $ 311,217.00 $ 308,578.00 Gain (Loss) on Sales $ 133,256.26 $ 93,762.08 $ 109,847.78 $ 144,723.49 $ 327,952.15 $ 84,355.52 $ (728,656.78) $ 421,630.00 $ 383,393.00 $ 297,771.00 Future Supplement $ - $ 44,215.00 $ 36,105.00 $ 29,618.00 $ 20,664.OD $ 24,192.00 $ 31,333.44 $ 38,917.00 $ 27,060.00 $ 24,480.00 Misc Revenue $ 305.26 $ 10.70 $ 6.00 $ 33.64 $ 972.73 $ 389.74 $ 0.96 $ 1,044.00 $ 541.00 $ 176.00 Total Revenue $ 407,796.09 $ 991,559.18 $ 1,049,158.21 $ 976,105.84 $ 1,158,671.89 $ 899,197.25 $ 160,179.19 $ 1,313,939.00 $ 1,282,135.00 $ 1,266,230.00 Expenditures Regular Monthly Benefits $ 679,607.51 $ 1,388,308.71 $ 1,420,658.61 $ 1,432,673.42 $ 1,434,268.76 $ 1,434,487.32 $ 1,436,083.26 $ 1,430,646.00 $ 1,281,954.00 $ 1,097,427.00 Future Supplement $ - $ 44,215.00 $ 35,960.00 $ 29,618.00 $ 20,664.00 $ 24,192.00 $ 31,333.44 $ 38,766.00 $ 26,749.00 $ 24,390.00 Drop Expense $ - $ - $ - $ 2,973.17 $ 43,816.86 $ 125,419.00 $ 238,801.00 $ 398,082.00 Investment Manager Fees $ 11,172.00 $ 22,846.00 $ 14,968.53 $ 61,654.29 $ 52,757.01 $ 53,323.12 $ 67,758.33 $ 76,454.00 $ 78,764.00 $ 84,005.00 Other Expenses: $ - $ - $ 48.00 $ 42.00 Audit Fees $ - $ 3,400.00 $ 3,600.00 $ 3,500.00 $ 3,500.00 $ 3,500.00 $ 3,500.00 $ 3,500.00 $ 3,300.00 $ 3,210.00 Professional Services $ - $ - $ - $ 2,900.00 $ 2,200.00 Legal Fees $ - $ - $ 1,D25.00 Bank Fees $ 29.82 $ 53.55 $ 16.69 $ 131.87 $ 110.90 $ 207.54 $ 228.60 $ 205.00 $ 202.00 $ 188.D0 Publications and Dues $ - $ 250.00 $ 225.00 $ 225.00 $ 300.00 $ 150.00 $ 150.00 $ 150.00 $ 100.00 Travel and Training $ - $ - $ 2,548.88 $ 3,462.00 $ 2,389.00 Total Expenses $ 690,809.33 $ 1,459,073.26 $ 1,475,428.83 $ 1,527,802.58 $ 1,514,548.69 $ 1,518,725.15 $ 1,585,419.37 $ 1,675,140.00 $ 1,636,607.00 $ 1,609,791.00 Net Income (Loss) Before Market Adj $ (283,013.24) $ (467,514.08) $ (426,270.62) $ (551,696.74) $ (355,876.80) $ (619,527.90) $ (1,425,240.18) $ (361,201.00) $ (354,472.00) $ (343,561.00) Market Adjustment $ 952,001.88 $ 575,241.65 $ 481,460.38 $ 488,158.52 $ 583,853.06 $ (967,119.37) $ 3,621.71 $ 280,562.00 $ (378,645.00) Net Income(Loss) $ (283,013.24) $ 484,487.80 $ 148,971.03 $ (70,236.36) $ 132,281.72 $ (35,674.84) $ (2,392,359.55) $ (357,579.29) $ (73,910.00) $ (722,206.00) Book Value Total Reserve Assets' $ 3,389,841.14 $ 3,668,717.01 $ 4,107,688.38 $ 4,534,054.00 $ 5,085,750.74 $ 5,441,627.54 $ 6,061,155.44 $ 7,486,396.00 $ Market Value Total Reserve Assets $ 4,344,066.01 $ 4,534,331.93 $ 4,641,004.55 $ 4,877,238.82 $ 5,554,763.66 $ 5,759,825.37 $ 5,823,183.74 $ 8,216,644.00 $ 'Assets less any liabilities " Market Value calculated at year end 7/31/2014 C:\UsemXssmithWppData\LomhMicrosoft\Wndo \Temporary Internet Files\Content.OU00ok\CP4WB27V\Fire Pension Summary 7,847,697.00 $ 8,202,070.00 8,573,123.00 $ 8,647,034.00 2014 LOPFI Insurance Turnback The "first round" allocation was $182,589.75 with an additional allocation of $48,691.00 K:\Fire Pension\Turnback and Supplemental Benefits\2014 Fire Pension Supplement\Copy of Lopfi Turnback Funds from State 2014 7/31/2014 tl 2014 2013 2012 2011 2010 2009 2008 Fire $ 578,771.66 $ 528,099.04 $ 532,784.70 $ 335,394.28 $ 288,545.03 $ 316,770.92 $ 365,078.30 Old Plan Fire $ 182,589.75 $ 181,714.89 $ 229,129.75 $ 131,537.45 $ 122,964.58 $ 125,710.67 $ 146,031.32 Additional Allocation $ 48,691.00 $ 38,366.07 $ 57,282.44 $ - $ - $ - $ - Fire Future Supplement $ 56,563.00 $ 44,215.00 $ 36,105.00 $ 29,618.00 $ 20,664.00 $ 24,192.00 $ 31,333.44 Total $ 287,843.75 $ 264,295.96 $ 286,412.19 $ 131,537.45 $ 122,964.58 $ 125,710.67 $ 146,031.32 The "first round" allocation was $182,589.75 with an additional allocation of $48,691.00 K:\Fire Pension\Turnback and Supplemental Benefits\2014 Fire Pension Supplement\Copy of Lopfi Turnback Funds from State 2014 7/31/2014 tl Dear Sirs: STATE OF ARKANSAS Department of Finance and Administration OFFICE OF ADMINISTRATIVE SERVICES Fiscal Accounting 1515 West Seventh Street, Suite 700 Post Office Box 2485 Little Rock, AR 72203-2485 Phone: (501)324-9060 Fax: (501) 324-9070 http://www.arkansas.gov/dfa Enclosed are payments for your Fire or Police pension program. The payments include the following checked items: v/ Old Plan Fire Pension Program Id Plan Police Pension Program Additional Supplement Fire Pension Program ditional Supplement Police Pension Program �lice Supplement Program e Future Supplement Program Police Future Supplement Program The payments to the LOPFI plans have been directly remitted to them. LOPFI will apply the funds to your account. Funds for this payment were collected by the Arkansas Insurance Department, certified by the Arkansas Fire & Police Pension Review Board, and disbursed by the Department of Finance and Administration. Thank you for your assistance. Questions concerning the payments should be directed to Arkansas Fire & Police Pension Review Board at (501) 682-1745 or myself at the number below. Sincerely, R' Drilling Fiscal Accounting Manager (501) 324-9062 e-mail: richard.drilling@dfa.arkansas.gov Enc. ARKANSAS FIRE & POLICE PENSION REVIEW BOARD To: Local FIRE Pension Fund Board of Trustees From: Arkansas Fire and Police Pension Review Board (PRB) Re: 2014 Future Supplement Fund Distribution Date: June 2014 620 W. 3rd, Suite 200 Little Rock, Arkansas 72201-2223 Telephone: (501) 682-1745 Toll -Free: (866) 859-1745 Fax: (501) 682-1751 email: info@lopfi-prb.com website: www.lopfi-prb.com Enclosed is the Future Supplement Fund distribution for your FIRE pension fund mailed from the Department of Finance and Administration. The distribution complies with Act 1373 of 2003. The amounts listed below are to be distributed equally to each retiree, beneficiary, and DROP participant as reflected on the Annual Financial Report for the Local Plan at December 31, 2013. The effective date for the distribution is July 1, 2014. Please remember that the amount available for distribution will vary from year-to-year. It may increase or decrease; therefore, to avoid errors we recommend a single one-time payment be made to each eligible participant. The total one-time amount to distribute to each pjiLparticipant is: $ 1,235.00 The total one-time amount to distribute to each volunteer participant is: $ 247.00 For eligible participant(s) who have deceased, those monies are to be placed into the Local Plan. This will ensure each eligible person receives the correct allocation. Should you have questions, please contact Denise Collins at one of the above phone numbers. Thank you. 1-j -i --� Agency Name: DFA -DISBURSING OFFICER _ Address : 1515 W 7TH ST STE 700 _ City,St Zip: LITTLE ROCK AR 72201 Vendor Number: 0800000336 _ ■ Invoice# Document Text 2014 Old Plan Fi 2014 Old Plan Fire i 476301 I I li I AC ENCY --MU.' DAY YEAR 0620 06 302014 I --J L —i Warrant Numb: 14W-1094608 Warrant Date: 6/30/2014 Payment Date: 6/30/2014 TOTALS THIS WARRANT 1:Q8 20Q767�1' i4 11 i �Q946g8N`' Net Ampunt 182,589.75 I � � 182,589.75 7fs`YJ- 120 941 Agency Name: DFA -DISBURSING OFFICER _ Warrant Numb: 14W-1094610 Address : 1515 W 7TH ST STE 700 _ Warrant Date: 6/30/2014 City,St Zip: LITTLE ROCK AR 72201 _ Payment Date: 6/30/2014 Vendor Number: Oa00000336 ■ Invoice# Document Text 2014 Future Fire 2014 Future Fire 4]6301 i li 01 01 I I I I I Net Amount 56,563.00 -AGENOY MO. DAYg2014j 0620 116 3D D`pOOT BEND, tt C p l 6 2CkD■ 1:D8 2❑❑7>> 7�t' i4 i i❑946 i Agency Name: DFA -DISBURSING OFFICER Address : 1515 W 7TH ST STE 700 City,St Zip: LITTLE ROCK AR 72201 Vendor Number: 0800000336 _ ■ Invoice # 2014 Old Plan Fi 2014 Add Allocation Fire _ i i 47WO1 i i Document Text Warrant Numb: 14W-1094612 Warrant Date: 6/30/2014 Payment Dale: 6/30/2014 TOTALS THIS WARRANT � 11)1 ra a1 TW I1YARR TTV01D AFTIFRJUNE Ell Awftx%e of o 0 Y t=a ttl&Suite Trc,dsur t0.l ktl 9 tt, ArENCYj MU1 DAY YEAR 0620 06 30 2014 f 6' �Da■ 1:013 2OW"A10946 k 20": Net Ampunt 48,691.00 48,691.00 ARKANSAS FIRE & POLICE PENSION REVIEW BOARD To: Local Fire and Police Pension Fund Boards' of Trustees From: Arkansas Fire and Police Pension Review Board (PRB) Re: Evaluating Local Plan Investments Date: June 2, 2014 620 W. 3rd, Suite 200 Little Rock, Arkansas 72201-2223 Telephone: (501) 682-1745 Toll -Free: (866) 859-1745 Fax: (501) 682-1751 email: info@lopfi-prb.com website: www.lopfi-prb.com The following information is intended to assist Local Plan trustees with a regular review of the Local Plan's investment portfolio, which is an essential role as a trustee. Trustees must ensure all holdings and fees comply with the local board's investment policy and state law. The local board should seek advice from their investment professional(s) and legal counsel to verify compliance with ACA 24-11-805 (fire funds) and 24-11-410 (police funds). Local Plans that utilize an investment advisor should also review ACA 24-10-402 for additional restrictions on allowable investments. The PRB understands these code sections to say that permissible asset classes for Local Plans with assets over $100,000 and under $5,000,000 are Cash (including savings accounts and CDs), state and federal government bonds, and no load mutual funds (this also means no sales or redemption charges for mutual funds). Annuity products are not an allowable investment. At a minimum, items for review should include: • Liquid -Is an asset able to be sold with relative ease? Will the Local Plan incur surrender charges or other costs to exit a holding? If so, were such charges fully disclosed to the trustees when the asset(s) were purchased? • Performance -Does each investment produce the expected return and is performance consistent with the asset's benchmark (index)? • Index -What information was provided to the local board to demonstrate that a specific index is the correct one to use? • Allocation -Is each style (equities, bonds, domestic, international, etc.) operating within the board's investment policy or is rebalancing the portfolio necessary? • Fees -Clear disclosure of all investment related fees must be on all monthly, quarterly, and annual statements prepared for the board. Trustees should be able to easily determine the total amount the Local Plan spends on all fees. • Prohibited investments -Do all assets conform to the board's investment policy? Were assets purchased in violation of the policy or, in the case of a bond holding, was the bond downgraded? Are there any assets not allowed under ACA 24-11- 805, 24-11-410 or 24-10-402? This memo is neither a complete checklist nor a legal opinion. It should be used as a guide to assist local boards with a regular review of their investment program. Please contact Denise Collins with any questions. Smith, Sondra From: Sent: To: Cc: Subject: Attachments: Leach, Trish Monday, June 02, 2014 1:39 PM Smith, Sondra Hertweck, Marsha; Becker, Paul FW: 2014 Evaluating Investments Memo Evaluating Investments 2014.docx From: Tracy Warfe [mailto:twarfe@lopfi-prb.comj Sent: Monday, June 02, 2014 12:19 PM Cc: Denise Collins Subject: 2014 Evaluating Investments Memo Good afternoon - Attached you will find the 2014 Evaluating Local Plan Investments Memo. Please provide the information to the Local Fire and Police Pension Plan's Board of Trustees. If you should have any questions please call our office toll free at 866-859-1745. Sincerely, PRB Staff %IT WILLIAMS FAY [1 1-1 VI1A,F (,,1"i -Y A'i't'URNF.Y Blake E. Pennington Assistant City Attornev Patti I Mulford Paralegal Phone 4"'9575.8313 cit vat torneyC,) t ,iyettevi Ile-ar.goe June 4, 2014 Mr. Virgil W. Young Hale & Young, PLLC 4801 North Hills Blvd., Ste. 1550 North Little Rock, AR 72116 Re: Eileen Jenkins Dear Virgil: 113 W. Mountain Street, Suite 302 Fayetteville, AR 72701-6081 Your paralegal claims you want "documentation regarding the Fayetteville Fire Department's Pension Plan, specifically dealing with QDRO's." As I am sure you know, the Fayetteville Fire Pension and Relief Fund is legislatively controlled by state law, not internal documents. Please see A.C.A §§ 24-11-801 et seq. for the state law that controls all aspects of benefits and beneficiaries. I have enclosed my email to Ms. Jenkins of May 8, 2014, and my letter to her of February 2, 2007 as well as a copy of her QDRO. I believe your review of the law and the documents should assist in your advice to Ms. Jenkins. In case my 2007 letter was not clear, the City easily prevailed in the suit I mentioned because the law is clear that a divorced spouse is not entitled to draw statutory benefits independent of the benefits received from the retired firefighter. Upon that firefighter's death, the spouse cannot receive any pension benefits. With kindest regards, KIT WILLIAMS Fayetteville City Attorney City of Fayetteville Firemen's Pension and Relief Fund Board of Trustees 2014 Meeting Calendar Quarterly Meetings Last Thursday of the First Month of Each Quarter Meetings will be in January, April, July, and October 3:00 PM - City Administration Room 326 At the November 18, 2010 Firemen's Pension Meeting the Board voted to change their meetings to quarterly effective immediately. January 23, 2014 April 24, 2014 July 31, 2014 October 30, 2014 T 2 z 05/15/24 j'1-7,9 1_6 + 0014 'd_3 .-JC f1i1_'It= ;1n "1'13 5CP Si/ JJt7� i I n�nr Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 2013 2014 Australia 61 2 9777 8600 Brazil 5511 3046 4500 Europe 44 20 7330 7500 Germany 49 69 9204 1210 Hong Kong 852 2977 6000 Japan 81 3 3201 8900 Singapore 65 6212 1000 U.S. 1 212 318 2000 Copyright 2014 Bloomberg Finance L.P. SN 546930 EDT GMT -4:00 H443-2005-3 31 -Jul -2014 14:45:22 00'�,l GARRISON ASSET MANAGEMENT Scenario Name Firemen's Pension & Relief Fund Base Case 605 W. Dickson St. Suite 201 Fayetteville, AR 72701 479-587-1045 Telephone 479-587-1257 Facsimile 888442-7637 Toll Free v .GsmsonFinancial.com Printed: Thursday, July 31, 2014 at 1:11:40 PM File Name: X9cli.ni iCity of Fayetteville Fireman's Pensionl[Fimmen's Retirement Mudel 731-2014 idsm]Disclosure haat Management, LLC Pension & Relief Fund t Estimates 7131/3014 ShowmOntecar Years 12 1 4296,318.00 1.00 4.296,319,00 1 0000 4,296,316.00 Iterations 1000 . - - 1.0000 - $ Hurdle Beginning of Ye - - - 1 oono - Cost Inflation End of Year 4 - - - 1 0000 - Wage Inflation - 5 - - 10000 - CurrentAge 1 r 5 - - - 1.0000 - - - - 1.0000 - e 1.0000 100 7"Ji"m4s - 1 r Ecdrn &girt : A'17 Nn) - 100 ,.367[ 4%.400 -2 - 100 Expense 2 - 100 03000 ,3 - 100 Expense 3 - 100 0.3000 - e 4 - 100 Expense 4 - 100 03000 - e 5 - 100 Expense 5 - 100 43000 - e6 100 E]ncns06 100 03000 &off*= Armsedif 060M Yr. Savings Savings - 100 qac:; 0.'1Q00 7,1559 S.c0^"0 Savings - 100 Bonds 0.0300 0.0380 0.4000 Savings - 100 — Enter additional asset Savings - 100 — Enter Audio. al asset Savinos 100 —Enter additional asset B I C 1 0 1 E F p H I K Garrison Asset Management, LLC x Firemen's Pension & Relief Fund s Portfolio Estimates Output 4 07131114 6 fi Y a B ,o Year# Year Age Income Expenses Beg. Port Earnings Deposits Withdrawals WD Pct. End Port Avg. Res. Success % ,1 1 2014 1 - 652,000.00 4,296,318.00 218,659.08 - 652,000.00 0.1518 3,862,977.08 3,856,954.34 1.0000 1 2 2015 2 - 652,000.00 3,862,977.08 192,658.62 - 652,000.00 0.1688 3,403,635.70 3,384,788.40 1.0000 2 3 2016 3 - 652,000.00 3,403,635.70 165,098.14 - 652,000.00 0.1916 2,916,733.85 2,887,130.58 1.0000 ,. 4 2017 4 - 652,000.00 2,916,733.85 135,884.03 - 652,000.00 0.2235 2,400,617.88 2,368,739.92 1.0000 25 5 2018 5 - 652,000.00 2,400,617.88 104,917.07 - 652,000.00 0.2716 1,853,534.95 1,824,196.94 0.9980 +s 6 2019 6 - 652,000.00 1,853,534.95 72,092.10 - 652,000.00 0.3518 1,273,627.05 1,313,995.96 0.9520 ,+ 7 2020 7 - 652,000.00 1,273,627.05 37,297.62 - 652,000.00 0.5119 658,924.67 1,010,564.14 0.7280 8 2021 8 - 652,000.00 658,924.67 415.48 - 652,000.00 0.9895 7,340.15 844,316.11 0.4470 ,E 9 2022 9 - 652,000.00 7,340.15 (38,679.59) - 652,000.00 88.8265 (683,339.44) 750,769.39 0.2290 H 10 2023 10 - 652,000.00 (683,339.44) (80,120.37) - 652,000.00 (0.9541) (1,415,459.81) 909,497.83 0.0900 m 11 2024 11 - 652,000.00 (1,415,459.81) (124,047.59) - 652,000.00 (0.4606) (2.19',SO, 4T 1,224,379.29 0.0380 n 12 2025 12 - 652,000.00 2,191,507,40 170,610.44 - 652,000.00 (0.2975) ;3,014,117.84; 1,335,189.48 0.0220 n Total - 7,824,000,00 613,564.16 7,824,000.00 5,000,000.00 4,000,000.00 3,000,000.00 2,000,000.00 1,000,000.00 v R N (1,000,000.00) (2,000,000.00) (3,000,000.00) (4,000,000.00) Monte Carlo Output 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Year End Port. � Avg. Res. — Success 1.2000 1 1.0000 1 0.8000 1 OWU1111110 0.4000 1 0.2000 1 following information explains certain cells on the "Investment Estimates" Page. The "Years" cell tells the program how many years to run the scenario. The "Iterations" cell tells the model how many random scenarios to run in each of the future years. The "$ Hurdle" cell is the minimum value below which each random scenario is deemed "not successful." In the case of a zero amount, each scenario would not be successful if you ran out of money and the ending portfolio was zero or below. The "Cost Inflation" cell is the amount by which your annual cost of living is expected to increase in each future year, expressed as a decimal. Le., .03 = 3%. The "Wage Inflation" cell is the annual amount by which your wages and income (Social Security, for example) is expected to increase in each future year, expressed as a decimal. Le., .03 = 3%. The check box in Column K determines if your expected cash flows (income, contributions, & withdrawals) occur at the beginning or end of each future year. Generally is it more conservative to assume cash flows occur at the beginning of each year, particularly in the case of withdrawals. The check boxes of Normal, Log Normal, and Exponential, allow us to change the statistcal distribution from which future expected returns are sampled from. There is a debate within the academic community as to whether or not market returns are distributed normally, log -normally, or exponentially. The expected outcomes do not change much under any type of distribution in most cases. If you're interested in exploring this topic in more detail, please contact us. It's pretty heady stuff, but we'll be glad to walk you through it. The following information explains certain information on the "Portfolio Estimates Output" Page. The "Income" column shows an estimate of future income, other than from the portfolio, inflated at the Wage Inflation rate. The "Expenses" column shows an estimate of future expenses, offset by Income, that will be withdrawn from the portfolio (not other sources), inflated at the Cost Inflation rate. The "Beginning Port." columns shows an estimate of the beginning portfolio value for each year. The "Earnings" column shows an estimate of portfolio earnings using the Weighted Average Return (Column H, Line 37) from the Investment Estimates page. The "Deposits" column shows an estimate of future deposits into the portfolio in real dollars (not inflated). The "Withdrawals" column shows an estimate of future withdrawals from the portfolio, inflated at the Cost Inflation rate, including any one-time portfolio withdrawals which are shown in the "Deposits" as a negative amount. The "WD Pct." column shows an estimate of the percentage of the beginning portfolio value that is withdrawn each year expressed as a decimal, i.e., .03 = 3%. The "End Port" column shows an estimate of the ending portfolio value, taking into account all model assumptions, using the Weighted Average Return (Column H, Line 37) from the Investment Estimates page. It is a straight-line return at the weighted average rate and does not include any type of Monte Carlo sampling or inputs. The "Avg. Res." column is a Monte Carlo estimate of the Average Residual value of the simulated portfolios that exceed the "$ Hurdle" explained above. In other words, of the portfolios that are successful (greater than the $ Hurdle), what is their average ending balance in each year. The "Success %" column is an estimate of the probability of sucess (the percentage of ending portfolios that are greater than the $ Hurdle) in each future year. It is calculated by dividing the number of successful portfolios (the number of portfolios with ending values greater than the $ Hurdle) in each year by the total number of portfolios (Iterations) in each year. This value is stated as a decimal, i.e., .95 = 95% probablity. So for example, for each year this column estimates the probability of the ending value of your portfolio being greater than the $ Hurdle. In the case of a $ Hurdle of $0, this column estimates the probability of not running out of money, or completely depleting your portfolio. The spreadsheets and data contained in the attached presentation are designed to be used as a tool to assist you in your retirement planninc decisions. These spreadsheets and data may not provide all the information you need to make a fully informed retirement decision and may not make all of the complex calculations required to reach a correct retirement decision as it relates to your particular situation. Market behavior and performance is highly unpredictable and can vary significantly over time, from time to time, and within and among asset classes. The performance you receive and the success of and variability over your own planning horizon is likely to be different from the information shown in this presentation and these differences could be substantial. Material differences are likely to occur due to such factors as variability in investment performance, your savings and spending patterns, the impact of inflation and other factors known and unknown which are beyond our control. If you received this spreadsheet in electronic form it may have been password -protected to ensure the integrity of the data and calculations. No warranties, either expressed or implied, are made as to the accuracy of the information and projections provided in this presentation.