HomeMy WebLinkAbout2014-04-24 - Agendas - FinalFayetteville Fireman's Pension ands Relief Fund
Meeting Date pv t� 20, do)q
Adjourn Time 0, ICI (�, In .
` aL
Motion B
Seconded:
Roy Cate
Mayor Jordan
Dennis Mullen
Pete Reagan
Sondra Smith
Ronnie Wood
Vk-
Cate
Dr Jordan
its Mullen
Smith
Wood
Cate
Dr Jordan
its Mullen
Smith
Wood
Cate
or Jordan
nis Mullen
Smith
Wood
Lioneld Jordan Chairman • Pete Reagan Position 2 Retired
Sondra E. Smith Secretary Dennis Iraye ev 1le Dennis Mullens Position 3 Retired
Roy Cate Position 1 Retired Ron Wood Position 4 Retired
ARKANSAS
Firemen's Pension and Relief Fund
Board of Trustees Meeting Agenda
April 24, 2014
A meeting of the Fayetteville Firemen's Pension and Relief Fund Board of Trustees will be
held at 3:00 PM on April 24, 2014 in Room 326 of the City Administration Building.
Call to Order
Roll Call
Garrison Financial:
• 1 at Quarter reports —March, 2014
• Garrison Privacy Policy 04/14/14
Approval of the Minutes:
Approval of the January 23, 2014 meeting minutes
Pension List Changes:
• Charlie Jordan deceased February 4, 2014. His spouse Sandra K. Jordan will receive
his benefit beginning March, 2014
Approval of the Pension List:
• Re -approval of the March and April, 2014 pension lists
Approval of the May, June and July, 2014 pension lists
New Business:
Revenue & expense report: I 8 Quarter — March 31, 2014 report
Election: Nine (9) Pensioners were nominated to serve
The following four (4) are willing to serve:
Pete Reagan
Roy Cate
Ralph Tate
John Jenkins
• Schedule a special meeting to open ballots
Informational:
• 2014 meeting schedule
SCANNED
April 4, 2014
Ms. Sondra Smith
City of Fayetteville
113 West Mountain Street
Fayetteville, Arkansas 72701
Dear Ms. Smith,
GARRISON
RECEIVED
APR 0 7 2014
F I N A N C I A L
CITYCITY OCLERKS OFFICE
Enclosed is the quarterly report for the Firemen's Pension & Relief Fund for the quarter ended March 31, 2014.
For the equity markets, 2014 began modestly with a +1.81 % S&P 500 return for the first quarter. We believe this is a healthy pause
following 2013's strong showing, giving the market room to consolidate those gains. Earnings continue to grow, lending support to
these higher prices while keeping valuations in line and attractive in many areas. With interest rates still very low and falling during
the quarter, the yield -oriented sectors of Utilities and Health Care were the top performers while Consumer Discretionary was
weakest.
The fixed income market as measured by the Barclay's Intermediate Government/Credit Index was up by an even +1.00% during
the first quarter. The 10 year US Treasury bond began the year yielding around 3.02%, fell sharply to around 2.57% (prices up) in
early February, and drifted volatilely higher to end the quarter around 2.69%. The Federal Reserve, under new Chair Janet Yellen,
continued its taper of quantitative easing for the third time to a current level of $55 billion monthly, down from a high of $85 billion
monthly. Increases in interest rates now appear as if they could begin sometime in mid -2015.
Geopolitical events were once again front and center for the markets this quarter. Rising tensions and the potential for military
action between Russia and Ukraine moved stock, bond, commodity, and currency markets around the world, reinforcing the global,
interconnected nature of both trade and financial markets. Stocks tend to sell off and treasuries tend to rally (yields fall) on each
piece of bad news in a classic'flight to quality'. Then that trend seems to reverse itself as each mini -crisis either passes or is
averted. In a world with plenty of international tension and a 24-hour news cycle, expect that type of volatility to continue.
This quarter we witnessed the beginning of Janet Yellen's tenure as Chair of the Federal Reserve. We believe that she will
continue her predecessor Ben Bemanke's accommodative, low -rate policies for the foreseeable future unless we see a sharp rise in
employment and/or inflation. While these policies have provided a tailwind to the stock and bond markets (at considerable cost to
savers) over the past few years, the true fuel for stock market gains is economic growth. As investors and citizens, economic
growth is something we are hopeful to see more of in 2014, as it means good things for employment and incomes as well as the
financial markets. Our economy took a big hit in the Great Recession of 2008-2009, and it has become evident that we can't
quantitatively ease our way out of it, and we can't legislate our way out of it, we have to grow our way out of it.
We view every equity investment in a literal sense: a percentage ownership in an operating company. Focusing on the
fundamentals, we try to filter out the noise of news and politics to identify companies that can execute in a variety of economic
environments. For bond investments, we apply a similar strategy to identify companies with strong and growing capacity to honor
their obligations. In all situations we seek reasonable valuations for those investments.
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,
e.LT
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.GwTisonFinancial.com
,,*)I
GARRISON
F I N A N C I A L
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
Quarter Ending March 31, 2014
PORTFOLIO SUMMARY
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
March 31, 2014
4.5
■ Cash & Equivalents 195,424.76
■ Account Fixed Income 1,292,739.28
® Account Equities 2,873,322.17
Garrison Financial
PORTFOLIO APPRAISAL
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
March 31, 2014
Unit Total Market Pct. Unit Annual
Quantity Security Cost Cost Price Value Assets Income Income Yield
CASH AND EQUIVALENTS
Schwab Advisor Cash Res - 195,424.76 195,424.76 4.5 0.010 19.54 0.0
Premier
195,424.76 195,424.76 4.5 19.54 0.0
TREASURY NOTE
200,000
USTreasuryNote
102.22
204,437.50
110.67
221,343.80
5.1
4.000
8,000.00
1.5
4.000% Due 08-15-18
Accrued Interest
972.38
0.0
204,437.50
222,316.18
5.1
8,000.00
1.5
CORPORATE BONDS
50,000
IBM Corp.
100.01
50,004.00
128.93
64,464.45
1.5
7.000
3,500.00
3.9
7.000% Due 10-30-25
Accrued Interest
1,458.33
0.0
_
50,004.00
65,922.78
1.5
3,500.00
3.9
COMMON STOCK
1,710
AT&T, Inc.
24.39
41,702.95
35.07
59,969.70
1.4
1.840
3,146.40
5.2
1,575
AbbVie, Inc.
24.35
38,357.14
51.40
80,955.00
1.9
1.680
2,646.00
3.3
1,575
Abbott Laboratories
22.46
35,371.29
38.51
60,653.25
1.4
0.880
1,386.00
2.3
2,000
American Electric
33.69
67,374.79
50.66
101,320.00
2.3
2.000
4,000.00
3.9
Power
2,300
BCE, Inc. Cl F
24.40
56,110.11
43.14
99,222.00
2.3
2.500
5,750.00
5.8
700
Chevron Corporation
73.07
51,150.83
118.91
83,237.00
1.9
4.000
2,800.00
3.4
3,000
Cisco Systems, Inc.
17.43
52,302.90
22.41
67,245.00
1.5
0.760
2,280.00
3.4
2,200
Coca-Cola Company
26.40
58,074.28
38.66
85,052.00
2.0
1.220
2,684.00
3.2
1,200
ConocoPhillips
44.94
53,930.85
70.35
84,420.00
1.9
2.760
3,312.00
3.9
833
Duke Energy Corp.
57.48
47,880.86
71.22
59,326.22
1.4
3.120
2,598.96
4.4
750
Emerson Electric
38.01
28,509.22
66.80
50,100.00
1.1
1.720
1,290.00
2.6
3,000
General Electric Co.
15.96
47,883.00
25.89
77,670.00
1.8
0.880
2,640.00
3.4
900
Genuine Parts Co.
36.65
32,986.53
86.85
78,165.00
1.8
2.300
2,070.00
2.6
1,500
GlaxoSmithKline Plc
38.47
57,702.15
53.43
80,145.00
1.8
3.000
4,500.00
5.6
ADR
450
IBM Corporation
122.43
55,091.76
192.49
86,620.50
2.0
3.800
1,710.00
2.0
3,725
Intel Corp.
17.61
65,581.48
25.81
96,157.15
2.2
0.900
3,352.50
3.5
1,115
Johnson & Johnson
60.77
67,758.33
98.23
109,526.45
2.5
2.640
2,943.60
2.7
850
Kimberly Clark Corp.
60.71
51,599.58
110.25
93,712.50
2.1
3.630
3,085.50
3.3
2,700
Microsoft Corp.
26.30
71,001.40
40.99
110,673.00
2.5
1.120
3,024.00
2.7
3,120
Pfizer, Inc.
16.52
51,554.12
32.12
100,214.40
2.3
1.040
3,244.80
3.2
1,000
Procter & Gamble Co.
50.46
50,458.56
80.60
80,600.00
1.8
2.410
2,410.00
3.0
1,400
Wal-Mart Stores, Inc.
50.36
70,497.97
76.43
107,002.00
2.5
2.000
2,800.00
2.6
1,152,880.11
1,851,986.17
42.5
63,673.76
3.4
MUTUALFUNDS
1,296.008
Columbia Acorn hill Z
38.58
50,000.00
47.25
61,236.38
1.4
1.430
1,853.29
3.0
14,455.268
Fed Intemr Corp Bond
9.69
140,000.00
9.57
138,336.91
3.2
0.400
5,782.11
4.2
7,651.109
Natixis Loomis Sayles
13.07
100,000.00
13.10
100,229.53
2.3
0.460
3,519.51
3.5
Bond Fmd
3,600.360
PIMCO Total Return Cl
11.11
40,000.00
10.78
38,811.88
0.9
0.160
576.06
1.5
D
4,683.407
StcelPath MLP Income
10.68
50,000.00
10.85
50,814.97
1.2
0.780
3,653.06
7.2
1,833.272
Vanguard Developed
27.27
50,000.00
33.44
61,304.62
1.4
0.900
1,649.94
2.7
Markets
1,443.113
Vanguard Emerging
34.65
50,000.00
32.45
46,829.02
1.1
0.340
490.66
1.0
Markets
I
You should carefully compare this statement to the statement you receive from your custodian and notify us immediately of any discrepancies.
N
Garrison Financial
PORTFOLIO APPRAISAL
City
of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab 47851-1206
March 31, 2014
Unit
Total
Market
Pct.
Unit
Annual
Quantity
Security
Cost
Cost Price
Value
Assets
Income
Income
Yield
2,615.123
Vanguard Hi -Div Yld
19.12
50,000.00 25.01
65,404.23
1.5
0.820
2,144.40
3.3
3,412.116
Vanguard Mid -Cap
29.31
100,000.00 39.86
136,006.94
3.1
0.020
68.24
0.1
Growth
3,410.952
Vanguard Mid -Cap
29.32
100,000.00 42.89
146,295.73
3.4
0.040
136.44
0.1
Value
3,290.816
Vanguard Small -Cap
30.39
100,000.00 43.66
143,677.03
3.3
0.020
65.82
0.0
Growth
3,324.742
Vanguard Small -Cap
30.08
100,000.00 43.25
143,795.09
3.3
0.040
132.99
0.1
Value
930,000.00
1,132,742.32
26.0
20,072.51
1.8
UNIT TRUSTS
2,500
Sector Utility Select Shs
31.96
79,899.25 41.46
103,650.00
2.4
1.600
4,000.00
3.9
1,400
iShares Barclays 7-10
104.43
146,198.70 101.73
142,422.00
3.3
1.990
2,786.00
2.0
yr Treasury
850
iShmes D7 Select Div
47.39
40,285.75 73.32
62,322.00
1.4
2.200
1,870.00
3.0
5,000
iShares IBOXX Inv
106.90
534,506.93 116.94
584,700.00
13.4
4.150
20,750.00
3.5
Grade Corp Bond
_
800,890.63
893,094.00
20.5
29,406.00
3.3
TOTAL PORTFOLIO
3,333,637.00
4,361,486.21
100.0
124,671.82
2.7
You should carefully compare this statement to the statement you receive from your custodian and notify us immediately of any discrepancies.
N
Garrison Financial
PURCHASE AND SALE
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
From 01-01-14 To 03-31-14
Trade Settle Unit
Date Date Quantity Security Price Amount
PURCHASES
03-21-14 03-24-14 10,471.204 Fed Interm Corp Bond 9.55 100,000.00
03-21-14 03-24-14 7,651.109 Natixis Loomis Sayles Bond Fund 13.07 100,000.00
200,000.00
SALES
02-05-14
02-10-14
250 Emerson Electric
63.80
15,949.02
02-05-14
02-10-14
1,000 General Electric Co.
24.53
24,533.62
02-05-14
02-10-14
500 GlaxoSmithKline Plc ADR
51.69
25,846.60
02-05-14
02-10-14
1,000 Pfizer, Inc.
30.66
30,663.52
03-21-14
03-24-14
200,000 US Treasury Note
110.65
221,305.62
4.000% Due 08-15-18
318,298.38
Garrison Financial
REALIZED GAINS AND LOSSES
TOTAL REALIZED GAIN/LOSS 52,639.00
NO CAPITAL GAINS DISTRIBUTIONS
City of Fayetteville Firemen Is Pension & Relief Fund
Charles Schwab #7851-1206
From 01-01-14 Through 03-31-14
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 GlaxoSmidlKhne PIc ADR 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
TOTALGAINS
0.00
52,639.00
TOTALLOSSES
0.00
0.00
265,659.38
318,298.38
0.00
52,639.00
TOTAL REALIZED GAIN/LOSS 52,639.00
NO CAPITAL GAINS DISTRIBUTIONS
Garrison Financial
PERFORMANCE SUMMARY
GROSS OF FEES
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
March 31, 2014
PORTFOLIO
Market
Value
Cash & Equivalents 195,424.76
Account Fixed 1,292,739.28
Income
Account Equities 2,873,322.17
Account 0.00
Commodities
Total
Account
40% Fixed Income/60%
Equity Blended Index
Account Fixed Income
Barclays Capital Intermed
Govt/Credit
Account Equities
S&P 500
Pct.
Assets Yield
4.5 0.0
29.6 3.0
65.9
0.0
4,361,486.21 100.0
2.8
2.7
CHANGE IN PORTFOLIO
Portfolio Value on 12-31-13
Accrued Interest
Net Additions/Withdrawals
Realized Gains
Unrealized Gains
Income Received
Change in Accrued Interest
Portfolio Value on 03-31-14
Accrued Interest
TIME WEIGHTED RETURN
Annualized
Quarter
Year
Last 12
Inception
To Date
To Date
Months
To Date
2.02
2.02
8.87
10.61
1.53
1.53
12.69
12.61
2.37
2.37
-0.58
2.03
1.00
1.00
-0.13
1.36
2.04
2.04
14.55
16.38
1.81
1.81
21.86
20.50
4,521,868.03
6,583.33
-252,522.40
-6,351.62
62,138.68
33,922.81
-4,152.62
4,359,055.50
2,430.71
4,361,486.21
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.
GARRISON
F I N A N C I A L
April 4, 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 January 1 through March 31, 2014
Portfolio Value as of 12-31-13 4,528,451
Portfolio Value as of 01-31-14 4,402,433
Portfolio Value as of 02-28-14 4,421,666
Portfolio Value as of 03-31-14 4,361,486
Average of 4 Months 4,428,509
4,428,509 @ 0.5000% per annum 5,536
Quarterly Management Fee 5,536
TOTAL DUE AND PAYABLE 5,536
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.
RECEIVED
APR 15 2014 SCANNED
CITY CLERKS OFFICE GARRISON
F I N A N C I A L
April 14, 2014
Greetings,
The Securities and Exchange Commission requires that each year we provide our clients with a copy of
our Privacy Policy and a copy of `Item 2 — Material Changes" to our form ADV Part 2, both of which are
included with this letter.
If you would like a copy of our entire form ADV Part ll, please let us know and we will be happy to send
one to you free of charge.
Sincerely,
Glenn E. Atkins, CFA
Chief Compliance Officer
GARRISON FINANCIAL • 605 W. Dickson Street, Suite 201 • Fayetteville, AR 72701
479-587-1045 •888-442-7637 Toll Free • 479-587-1257 Facsimile
www.GarrisonFinancial.com
� GARRISON
( F I N A N C I A L
Privacy Policy Notice
At Garrison Financial Corporation we realize the importance of maintaining a confidential relationship between client and investment manager. We understand that
you have entrusted our firm with confidential information about yourself and your investments as part of the ongoing process of ourfirm providing you with investment
management services, It is our policy to maintain the highest level of confidentiality with this information, ensuring the continued trust that you have come to expect
from our firm,
Due to recently enacted legislation, and to reiterate our commitment to confidentiality, we have adopted this Privacy Policy.
1) We do not sell information you provide to us to anyone.
2) We do not disclose personal information about you unless this disclosure occurs under the following conditions:
a) As part of the normal course of providing investment management services to your account, we routinely disclose information to your custodian. These
companies provide safekeeping services for the securities in your account and we regularly communicate with them regarding transactions affecting your
account. Information may also be disclosed to other non -related third party affiliates such as accountants and attorneys upon request by the client.
b) We may disclose or report personal information about you in certain limited circumstances where we believe that such disclosure is required or permitted
by law. Such disclosure may include cooperation with regulators or law enforcement agencies, or other instances as required by law.
c) For institutional accounts, we may also disclose information about your account to your investment consultant where we have knowledge of your ongoing
relationship with a consultant or in speck instances where you instruct us to disclose information about your account.
3) As part of our initial and ongoing service to you we collect personal information when you establish a clientrnvestment manager relationship with us. During this
relationship we continue to collect information about your account from your custodian in an effort to provide our service to your account. We also collect and
maintain information about transactions we conduct on your behalf including account balances, positions, and account history, among other information. We may
also collect information about you when you visit our website.
4) We continually safeguard the information you provide to us.
a) Our portfolio accounting is conducted in-house and we do not disclose information about your account to any third party except as described above.
b) Our employees are trained and instructed to use personal information you have entrusted to us for legitimate business purposes only.
c) We maintain physical, electronic and procedural safeguards to protect personal information you provide to us.
5) We will update you on future changes, if any, in our Privacy Policy. We value your trust and carefully handle information we possess about you. All Garrison
Financial Corporation associates who have access to your information are bound by the code of conduct that requires the confidential treatment of Customer
Information, and they are subject to disciplinary action if they fail to follow this code.
In relation to Garrison Financial Corporation's Privacy Policy and in order to ensure the protection of confidential company and client information, the following
procedures are to be followed:
1) Employees may not disclose client information outside the firm except as provided for in the Privacy Policy, or as expressly directed by the
client.
2) Employees should take the necessary steps and precautions to ensure the safekeeping of client files, both physical and electronic.
3) Employees should ensure that no client information is readily visible in public areas of the firm when visitors are present.
4) Access to files should be limited to employees of the firm and regulatory agencies as required.
ITEM 2 — MATERIAL CHANGES
April 4, 2014. The following discusses only the material changes since the last annual update of our brochure,
which occurred in March of 2014.
No material changes have occurred at Garrison Financial Corporation since the last annual update of our
brochure.
If you would like to obtain a free copy of our updated brochure in printed or electronic form, please contact:
Garrison Financial Corporation
605 W. Dickson Street
Suite 201
Fayetteville, AR 72701
479-587-1045
888-442-7637 Toll Free
Or e-mail Glenn E. Atkins, CFA, MBA — Chief Compliance Officer at gatkins@garrisonfmancial.com
Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
January 23, 2014
Page ] of 8
Uoneld Jordan Chairman ® Pete Reagan Position 2 Retired
Sondra E. Smith Secretary Dennis Mullens Position 3 Retired
Roy Cate Position 1 Retired a Ron Wood Position 4 Retired
ye
ARKANSAS G
Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
January 23, 2014
A meeting of the Fayetteville Firemen's Pension and Relief Fund Board of Trustees was held at
3:00 PM on January 23, 2014 in Room 326 of the City Administration Building.
Pete Reagan called the meeting to order.
Present: Roy Cate, Pete Reagan, Dennis Mullens, Sondra Smith, City Clerk, Kit Williams,
City Attorney, Trish Leach, Accounting Office, Paul Becker, Finance Officer, Dee McCoy,
City Clerk's Office, Blake Pennington, Assistant City Attorney, Glenn Atkins and Kerry
Bradley of Garrison Financial.
Absent: Mayor Jordan and Ron Wood
Garrison Financial:
Yearly and 4th quarter reports: A copy was given to the board.
Kerry Bradley, Garrison Financial: Happy New Year. It was a good one indeed for the markets
in 2013. We included a year-end report for everyone there. We are close to policy, we are a little
underweight fixed income and a little overweight equities. That has a lot to do with the good
fortunes in the equity market this past year. For now we are very comfortable. We are just a
little overweight. The market has been kind of flat since the end of the year but we are very
comfortable being a little overweight in equity right now given the interest rate moves that Glenn
can go over here in a few minutes. We are up to about $295,000 in cash as of the end of the year.
We have drawn that down to $55,000 a few weeks ago for the January payment and another
$84,000 will come out in February. We've got hopefully three or four months of cash available
for withdrawals. Equity market was very strong, the stocks in the portfolio did very well. The
stocks were up about 25% that lagged the S&P 500, which is what we benchmark against mainly
due to the fact that the stocks in the portfolio are very large cap in nature, very solid blue chip
companies, and those underperform some of the smaller cap names this year. International
markets were a little bit weaker and we do have some international exposure. We think that's a
good idea for diversification sake even though it pulled the portfolio down from the Standard &
Poor's 500 Index.
Paul Becker: So your equities were up 25.45% compared to the S&P?
Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
January 23, 2014
Page 2 of 8
Kerry Bradley: Yes 25.45%. The S&P was up 32.39%. Some of the smaller companies and a
lot of the non -dividend very growth -oriented names were the best performers this year. So, our
portfolio is a little more bent towards income, blue chip, large value stocks. We are very happy
with 25% and wish we could get it every year. Don't necessarily expect it in 2014. The market
has basically been going straight up for about 18 months now. Today, we are having a little bit of
a pull back. I certainly wouldn't be surprised to see a little bit of some profit taking or a pullback
in the market. Valuations are still very reasonable. Given where interest rates are and where they
are heading, given the Feds intention to let off the gasa little bit with some of their stimulus,
interest rates should be creeping up hopefully over the remainder of the year and the next few
years. I think being a little overweight equity and a little underweight fixed income to policy, I'm
very comfortable with that, if you guys are okay with it. We are still within the variance of the
policy. I'm very comfortable with how it preformed. If we can get 6 to 8% out of equities this
year, I will be very happy. I think we've got to see some earnings come though. We had some
valuation expansion this year because the market was so strong. Earnings were good but they
weren't quite as strong as the up 32%. Again, you're going to get valuation expansion in those
kind of years. The economy is still slow and repairing itself from the 2008 to 2009 disaster.
We've got some slow growth for another couple of years. I'm very comfortable with the
valuations of what we own in the portfolio.
Paul Becker: You're still holding 65% in equities?
Kerry Bradley: 65% in equities. Our variance is 10%, our policy is 60% so we can go up to
70%. If it gets much higher than where it is at now then we will be paring that back.
Paul Becker: So you don't need approval until you're over 10%.
Kerry Bradley: Yes. As far as we're concerned I think we're good.
Paul Becker: I should remember.
Pete Reagan: We used to have a 5%.
Kerry Bradley: Really, if we got much past the 65% level we'd be pulling it back anyway just
because we don't like to be so far out of policy, given where the markets are.
Paul Becker: Going forward these were equities that are being held before they were restricted.
Kerry Bradley: Most of them were, yes. We're restricted to the mutual funds now, so we do
have some international exposure and some small cap exposure. Those small cap mutual funds
we did have were up 32 to 38%. They performed very well.
Glenn Atkins, Garrison Financial: As Kerry eluded to earlier, 2013 was not kind to the bond
market. The yield on the ten year Treasury bond basically for the last year thru today. As you can
see we hit a low in May and it was basically straight up for the rest of the year. We touched on
this when we were here in October. Since that time, it has gone from about 2.5% on the ten year,
peaked at 3% and has since come down to about 2.8% yield on the ten year. As far as fixed
Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
January 23, 2014
Page 3 of 8
income in your portfolio, it under preformed the market considerably. That's not inconsistent
with what we had seen across our entire portfolio range, not just for the City. The reason being,
government agency securities and treasuries last year really under performed. In terms of how
we are structured trying to generate as much income as we can in the two bonds that we hold and
also in the funds that we hold, I would be hard pressed to pick a better fund compared to the ones
that we have. Our bias going forward is for rates to go up over the next two to five years. We are
well positioned for that in the funds that we have. Being slightly overweight in equity, given that
outlook, is probably not a bad thing.
Kerry Bradley: It gets very hard to manage a bond portfolio and the interest rate fluctuations in
the confines of mutual funds. It's a little more difficult when you're restricted to mutual funds
versus us buying a six month short paper to help insulate us from those rising rates.
Glenn Atkins: The flip side of that is it's important in this portfolio to maximize the income.
You're going to have a little bit more volatility than you would if we were in individual
securities. The funds that we purchased since we took over the management of the portfolio, we
tried to pick funds that manage their funds like we manage our own bonds; a lot of exposure to
intermediate term corporate bonds, for example. With an upward bias in rates, I think we are
positioned as well as we can be. Being slightly overweight in equities is probably not a bad
thing. You really did have a good year last year.
Paul Becker: Do you know what you're average maturity of your bonds are?
Kerry Bradley: In this portfolio, correct?
Paul Becker: Yes.
Glenn Atkins: It's probably going to be in the range of, on average, six years.
Paul Becker: So you're about six year, so you're fairly short?
Glenn Atkins: We're fairly short, but we're long to the index. The index is, I believe, around a
3.8 year maturity. That obviously hurt the performance too. The yield curve is so steep, in other
words, rates in five years, if you go out just a little bit longer you get a whole bunch more
income. It's a tradeoff between being too long and too short. We think we've got a good balance
of that right now. Again, it wasn't a kind year for the bond market.
Kerry Bradley: On the mutual funds, those managers can change that fairly quickly. You guys
might be familiar with the total return fund. Bill Gross, he's the godfather of the bond market, he
does a very good job and he did not have a good year. That total return fund did not perform all
that well but he has a very good long term track record. I think he's still a really smart guy even
though he didn't have a really good year.
Glenn Atkins: We own most all these funds for our other accounts too.
Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
January 23, 2014
Page 4 of 8
On the second page, I took the market value, right off the live market value this morning of $4.4
million and then in the middle of the page you'll see the withdrawals for calendar 2013 have
been right around $601,000
Kerry Bradley: I think that's a little less than last year. I don't know if there's any pattern of
what to expect this year. I think it was higher last year.
Glenn Atkins: I think last quarter we used $673,000.00 for the trailing twelve months. A few
quarters ago, we decided to use the trailing twelve months. We are modeling to an 8% expected
long term return on stocks and 3% on bonds.
On the next page is a table of numbers very similar to what we went through in October. Given
the market value increase and slightly less withdrawals over the calendar 2013, the portfolio
could perhaps last a year or three longer than we modeled it in October. Certainly if the market
keeps going up 25% a year, things will be better but it's not likely to do that. This is a little bit
better than it was in October. The expected life of the portfolio is relatively short. We would love
to take questions or hear comments or feedback, ideas positive or negative, in between. Anything
that's on your mind we would be happy to try to address.
Pete Reagan: What do you think interest rates are going to be towards the end of the year?
Glenn Atkins: If I knew that for sure I would position the portfolio exactly right. The economy
seems to be doing better. The Fed has announced that they are going to take $10 billion off the
taper per month. I honestly don't know. I would not be surprised if the ten year were maybe
3.3% to 3.5%, but, it also might be 2.50%. What we've seen over the last probably five years or
more is incredible volatility like you see in this. You get just get whipsawed month to month,
day to day, and quarter to quarter. This kind of pattern, this kind of volatility is not unique to
2013. It's been all over the map.
The consensus was, back in the spring before rates went up, that perhaps that the Federal Reserve
was influencing the market to the tune of about one full percent, or 100 basis points. We
obviously had that move from a 1.60 to a 3. That's almost a doubling of rates in seven months. I
think I mentioned when we were here last time that that move that happened in June was the
fastest rising rates since 1963 or 1964 in that compressed of a time frame. I think certainly
beyond one year our bias is clearly for rates to be up. The trick to that is when we talked earlier
about the maturity thing, you could pull it all back in two or three year investments but you
don't earn any income. If the whole curve moves, especially if it moves more on a short end,
then you lose out if you were not longer. We are trying to balance that and balance as much
income as we can in funds that manage money very similar to the way we do in individual
bonds, but not be so out on the end of the diving board that we just get totally shellacked if rates
do move dramatically.
Kerry Bradley: Best case scenario, the economy continues to pick up and the Fed continues to
taper. Best case scenario, I think we can see a 5% ten year in four or five years.
Glenn Atkins: That would be a good thing
Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
January 23, 2014
Page 5 of 8
Kerry Bradley: That's a good thing. I think typically when the Fed starts moving rates you
always kind of hold your breath and hope it doesn't throw us into a recession. Certainly they
have indicated they are not going to move interest rates. Now the market is going to move
interest rates as they stop their bond purchase program, they have not indicated they are going to
move that Fed fund rate off the 25 basis points or anything like that anytime soon.
Glenn Atkins: The market will probably lead them in that in a wag the dog kind of thing. To
elaborate on why we think that would be positive, it would indicate that the economy is doing
better because there is a greater demand for money and rates rise. Money market funds would be
paying something other than zero. The bond funds and bonds as they mature in the portfolio
would then turn around and be reinvested in a higher rate of return. A more positive economy
would translate into a better stock market performance. I don't think they are going to get 25% a
year but those things combined, if rates do that, it hurts a little bit in the bond portfolio but I
think we are well positioned for it. Then, it's got a whole lot of good things behind it that if it did
happen should also be happening to the good side.
Pete Reagan: Do we have any propane stocks? I think propane doubled yesterday.
Glenn Atkins: I heard on the news where people were stealing wood from each other.
Pete Reagan: They're actually is a propane shortage. Any other questions? Thank you very
much.
Glenn Atkins: Thank you for having us. We appreciate your business and your confidence in us,
and don't wait a whole quarter if you need us.
Pete Reagan: I hope you come back with a good report again next time.
Approval of the Minutes:
Approval of the October 31, 2013 meeting minutes
Roy Cate moved to approve the October 31, 2013 meeting minutes. Dennis Mullens
seconded the motion. Upon roll call the motion passed 4-0. Ron Wood and Mayor Jordan
were absent.
Pension List Changes:
None
Approval of the Pension List:
Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
January 23, 2014
Page 6 of 8
Roy Cate moved to approve the February, March and April 2014 pension lists. Dennis
Mullens seconded the motion. Upon roll call the motion passed 4-0. Ron Wood and Mayor
Jordan were absent.
Unfished Business: Actuary report breakdown of 2012 contribution from the city.
Sondra Smith: The actuary report that we get you all had a question because it said
contributions from the City of Fayetteville on it. There's no contributions from the City of
Fayetteville, so Trish found out what that number is made up of.
Kit Williams: Is that the millage?
Sondra Smith: So that form that you see in your packet says property taxes was $465,198.12,
delinquent property taxes was $46,763.10, and state insurance turn back was $229,129.75 which
made up that $741,000 contribution for the City of Fayetteville which is actually revenue and
funds coming into the fund.
Trish Leach: That's just how Arkansas ire and Police Pension Review Board (PRB) classifies it.
That's why the actuary called it that, but it's definitely these numbers.
Pete Reagan: I'm sure that's the reason they call it that, it's set up for that in their system and
this is a closed system so nobody else is in it. We wondered what made up the $741,000. Thank
you for finding that for us Trish. I didn't realize we got that much money from delinquent taxes.
Sondra Smith: That's quite a bit of money isn't it?
Kit Williams: That's 10%.
Sondra Smith: Is that the 10% or is it the actual delinquent taxes that come in after the due
date?
Kit Williams: That's what it is, it's 10% of the taxes that are coming in late
New Business:
Revenue & exuense resort: 4th Quarter — December 31, 2013 report
Sondra Smith: That's the report that accounting does. Trish makes sure that we get that. I think
Toni Lilley actually does it in accounting. It shows you your market value and your book value
over the past few years. It shows you what your fund was from 2005 and what your fund is
currently, as of 12/31/2013.
Kit Williams: The good news between 2012 and 2013 is the market value almost stayed the
same. That's the truer value, book value is what you paid for it and market value is what it's
supposedly worth right now if you sold it.
Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
January 23, 2014
Page 7 of 8
Pension Review Board Letter -Estimated 2014 Premium Tax Allocation
Sondra Smith: That is what they are estimating what they think the fund will receive in tum
back funds. Because the fund is poor shape we are getting that estimated additional allocation,
which they are estimating that for 2014 to be $60,063.
Pete Reagan: That's an estimate only and that won't be payable to August?
Sondra Smith: July or August.
Trish Leach: Just depends on when they get it together.
Sondra Smith: We get it to you as soon as Trish gets it. Trish does all the work on that.
2013 Local Pension Fund Renort to the Council
Sondra Smith: By State Statue, the Mayor at the first meeting in January of every year has to
give a report in open session to the Council on the old pension plans and how they are doing.
This is the report that was presented at the City Council meeting on the fire and police pension
funds. I always try to give you a copy of it so you'll know what's been said and what took place
at the Council meeting.
Pete Reagan: It's on YouTube too. I watched it live.
Sondra Smith: It's also on the city website. If you're interested in watching that meeting, it's at
the very first of the meeting. If you're interested in any comments that might have been made
you can go to accessfayetteville.org and go to City Meetings/Online Videos and click on that
meeting date.
Kit Williams: That's the first meeting of the year.
Sondra Smith: First meeting in January of every year.
Roy Cate: That's the only time?
Sondra Smith: That's the only time he has to give that report.
Pete Reagan: He has to give the State of the City Address once a year.
Kit Williams: He does that in the next meeting.
Sondra Smith: State of the City is done the second meeting of January.
Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
January 23, 2014
Page 8 of 8
Paul Becker: Statue requires this is done first meeting.
Sondra Smith: I think they changed the state law on the State of the City and I think it has to be
done within the first 90 days.
Pete Reagan: In case they don't have a budget?
Sondra Smith: Yes.
Informational:
2014 meeting schedule: A copy of the schedule was provided to the board.
Roy Cate moved to adjourn the meeting. Seconded by Dennis Mullens. Meeting
Adjourned.
Adjourn Time: 3:25 pm
Tyee evi le
Y ARKANSAS
Departmental Correspondence
TO: Trish Leach, Accounting
Summer Fallen, Accounting
FROM: Sondra E. Smith, City Clerk/Treasurer
DATE: February 21, 2014
RE: Charlie Jordan
Firemen's Pension
Office of the City Clerk
City of Fayetteville, Arkansas
Sondra E. Smith, City ClerkfFreasurer
Lisa Branson, Deputy City Clerk
I am forwarding this memo to you due to the death of a Firemen's Pensioner. Please stop the
pension benefit for Mr. Charlie J. Jordan. He was receiving benefits due to being on the old Fire
Pension Plan. Mr. Jordan is survived by his spouse Sandra K. Jordan. I forwarded a copy of the
death certificate to your office via email. I also forwarded a change of address for Ms. Jordan to
you via email. Ms. Sandra K Jordan should begin receiving his benefit beginning March, 2014.
The following is Ms. Jordan's new address.
Sandra K. Jordan
329 N. Berry Apt. 101
Springdale, AR 72764
February 21, 2014
Sandra K. Jordan
329 N. Berry Apt. 101
Springdale, AR 72764
RE: Firemen's Pension & Relief Fund
Dear Ms. Jordan,
I am very sorry to hear about the loss of your husband. At this time you will receive the same
benefit amount from the Firemen's Pension & Relief Fund as Mr. Jordan received. Please
complete the enclosed Firemen's Pension & Relief Fund Affidavit, have your signature
notarized, and return the form to the City Clerk Treasurer. The City Clerk's office is available to
notarize your signature Monday thru Friday during normal business hours, 8:00 a.m. to 5:00
p.m. The affidavit will need to be completed yearly in the future.
Enclosed is a Withholding Certificate for Pension or Annuity Payments (W -4P) form. This form
needs to be completed to allow us to withhold the correct about of Federal and State taxes from
your pension check.
If your husband was receiving his pension by direct deposit we will continue that process. If he
were receiving a check in the mail and you would like to set up direct deposit contact the City of
Fayetteville Accounting Division at 575-8281.
Please send the enclosed forms to: City of Fayetteville, City Clerk Treasurer, 113 West
Mountain, Fayetteville, AR 72701. If you have any questions you may contact the City Clerk
office at 575-8323. 1 will keep you in my thoughts and prayers during this difficult time.
Sincerely,
Sondra E. Smith
Secretary
Firemen's Pension and Relief Fund Board of Trustees
Enclosure
City of Fayetteville, Arkansas - RECEIVED
FIREMEN'S PENSION & RELIEF FUND AFFIDAVIT
Calendar Year: 2014 JAN 14 2014
STATE OF �QV1�,� � )
CIN CLERKS OFFICE
)ss:
COUNTY OF S
o solemnly swear that I presently receive pension benefits
from the Firemen enston and Relief Fund afid4 am eligible to continue receiving pension benefits as governed under state law.
LiJ" I am a former firefighter for the Fayetteville Fire Department.
❑ I am the spouse/former spouse/widow of a former firefighter of the Fayetteville Fire Department, and that I have not remarried
since becoming eligible for benefits.
❑
I am an eligible dependent ofa. former firefighter for the Fayetteville Fire Department and have attached an affidavit verifying my
school attendance.
Telephone: ( A 7 1) a 7 of 7 —7'
Social SecurityNo.: —. �_ OWN$I
NAME SOCIAL SECURITY NO, BIRTHDATE RELATIONSHIP
DATED this _I)�'�'� day of, �(2.V1 UQ eT 2-()14.
Ol. WADE COTHRAN AFFIANT (signature)
WASHINBTON CDUNJY
NOTARYPUBIIC—ARKANSASj�fA✓�
SUBSG� I�WSV� 8a�if=p�, Notary Public, this If-tl\ day of
A W4
ommissfon No. 12384303
Not Public
My Commission Expires:
(This affidavit is required annually by the Firemen's Pension and Relief Fund Board of Trustees and must be properly completed and
returned to the Fayetteville City Clerk, 113 West Mountain, Fayetteville, Arkansas, 72701 by January 31" each year.)
Smith, Sondra
From:
Peter Reagan <preagan14@gmail.com>
Sent:
Wednesday, February 05, 2014 6:41 AM
To:
Pat Boudrey; City -Clerk
Subject:
Charlie Jordan Obit
Charlie Joy Jordan, age 67, of Springdale, entered into heaven on Tuesday, February 4, 2014. He was born
August 6, 1946 in Fayetteville, Arkansas, the son of Joy and Lillie Johnson Jordan.
As a young boy he always wanted to be a firefighter. He retired in 1995 after 25 years with the Fayetteville Fire
Department. Charlie loved all animals, especially dogs. He loved going to Branson and the scrap yard. He was
drafted in 1964 by the St. Louis Cardinals and was a lifelong fan of the Cardinals. He was of the Christian faith.
The family wants to give a special thanks to Highlands Oncology, Dr. Eric Schaefer and the nurses and the staff
at Highlands Radiation Oncology, Dr. Arnold Smith (especially Cameron Little) also Dr. Stan Bradley and staff
at Willard Walker Hospice Home.
He is survived by his wife, Sandy Jordan; three daughters, Amber Steele and her husband Chris of Lavaca,
April Robinson of Fayetteville and Cheryl Woolsey of Lincoln; a son, Jeff Jordan and his wife Raelene of
Centerton; a step -daughter, Leigh Kate Ochieng and her husband Gordon of Fayetteville; a sister, Diane
Thomas of Prairie Grove; a brother, Mark Jordan and his wife Sandy of Fayetteville, eight grandchildren and
several nieces and nephews.
Visitation will held 1:00 p.m. — 2:00 p.m., Friday, February 7, 2014 at Moore's Chapel, followed by a funeral at
2:00 p.m. at Moore's Chapel. Burial will be in Campbell Cemetery at West Fork.
In lieu of flowers memorials may be made to Meals on Wheels in Springdale and Hope Cancer Resources.
Peter T Reagan, DFSR
IAFF 14th District
P O Box 1922
Fayetteville AR 72702
E - preaganl4nn,gmail.com
C - 479-841-0320
FIREMEN'S RELIEF AND PENSION p
REVISED March 3 3/nJ
2014 3 3
3 3
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.
4/22/2014 K:1Fim PensionlPension UsAPension List 2014IFP 030114 Revised WM
DATE OF
Regular Mo
Year To Date
EMP# RETIREMENT
NAME
Benefit
Reg Benefit
177
4104
BACHMAN, EDDIE
2,61B.55
7,855.65
74
3/86
BAIRD, JULIA
1,802.08
5,406.24
63
5/72
BOLAIN, ANN
109.27
327.81
68
7199
BONADUCE, MICHAEL
2,968.76
8,966.28
44
9186
BOUDREY, BETTY MRS.
2,477.42
7,432.26
45
9/86
SOUDREY, HOWARD
2,069.28
6,267.84
49
7188
BOUDREY, JACK
1,647.63
4,942.89
57
5/90
CATE, ROY
1,788.90
5,366.70
6
4168
CHRISTIE, ARNOLD
109.27
327.81
188
12/05
DOSS, MARION H
5,376.91
16,130.73
188
12/05
DOSS, MARION H plus 25 additional pay
731.61
2,194.83
11
2/76
FARRAR,ALONZO
998.86
2,996.58
192
4/06
FARRAR, DANNY
4,155.36
12,466.08
38
5/84
FRALEY, JOSEPH G.
1,768.12
5,304.36
170
5103
FREEDLE, LARRY
3,816.75
11,450.25
170
5/03
FREEDLE, LARRY plus 25 additional pay
141.37
424.11
92
03/02
GAGE,TOMMY
2,596.69
7,790.07
34
6179
HARRIS, JAMES E.
109.27
327.81
70
11/99
HARRIS, MARY RUTH
109.27
327.81
182
10/04
JENKINS, EILEEN
1,788.75
5,366.25
93
061D2
JENKINS, JOHN
1,788.76
5,366.28
86
07101
JOHNSON,ROBERT
3,073.47
9,220.41
64
4195
JORDAN, CHARLIE deceased 2/04
0.00
4,549.90
219
4/95
JORDAN, SANDRA K
2,274.95
2,274.95
76
5/88
JUDY, JAN
1,647.63
4,942.89
37
3/84
KING, ARNOLD D.
1,522.37
4,567.11
54
5/89
KING, ARVIL
1,711.21
5,133.63
173
12103
LEDBETTER, DENNIS
3,775.80
11,327.40
51
10/88
LEWIS, CHARLES
1,647.63
4,942.89
40
9/85
LOGUE, PAUL D.
2,868.28
8,604.84
202
02/08
MAHAN, MARSHALL
4,077.28
12,231.84
50
9188
MASON, LARRY
1,631.25
4,893.75
39
4/85
MC ARTHUR, RONALD A.
1,753.74
5,261.22
35
2/82
MC CHRISTIAN, DWAYNE
109.27
327.81
15
4/77
MC WHORTER, CHARLES
1,334.51
4,003.53
209
8181
MILLER, ALICE GAYLE
1,304.07
3,912.21
73
2/00
MILLER,KENNETH
3,180.02
9,540.06
73
2/00
MILLER,KENNETH plus 25 additional pay
170.60
511.80
217
2/86
MOORE, BETTY L
109.27
327.81
176
4/04
MORRIS, DIXIE E.
125.66
376.98
48
7188
MULLENS, DENNIS W.
2,191.30
6,573.90
1B4
3/05
NAPIER, LONNIE
3,518.28
10,554.84
196
01/02
ONEAL, TEDDY
4,120.99
12,362.97
46
5/88
OSBURN, TROY
1,899.66
5,698.98
81
02101
PHILLIPS,LARRY
2,765.09
8,295.27
203
02/08
PIERCE, JOEY
3,647.18
10,941.54
53
2/89
POAGE, LARRY
2,346.70
7,040.10
186
06/05
REAGAN, PETE
3,535.71
10,607.13
201
^02/08
REED, JUNE
109.27
327.81
41
9/85
SCHADER, TROY
1,524.99
4,574.97
190
04/06
SHACKELFORD, GLEN
3,647.18
10,941.54
36
5/76
SPRINGSTON, CARL
806.19
2,418.57
90
03102
STOUT, IMOGENE W.
767.80
2,303.40
165
12/02
TATE, RALPH
3,668.10
11,004.30
65
3/66
TUNE, BILLIE SUE
136.59
409.77
71
1/00
WARFORD,THOMAS
2,502.72
7,508.16
88
01/02
WOOD,RONNIED
3,077.15
9,231.45
208
9188
WRIGHT, Barbara
1,691.34
5,074.02
11328613
339,858.39
4/22/2014 K:1Fim PensionlPension UsAPension List 2014IFP 030114 Revised WM
DATE OF
EMP#RETIREMENT NAME
Regular Mo Year To Date
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
MY COMMISSION EXPIRES:
NOTARY PUBLIC
4/22/2014 K:\Fire Pension\Pension List\Pension List 2014\FP 030114 Revised WM
339858.39
12445.69
"(should be off Supplemental amount for DRO
tto
6810-96105335-00
0.00
6010.9810-533506
0.00
Drop Peyou0lntrest Checks b Dmp Retirees
Opo
no Column
0.00
Difference
0.00
4/22/2014 K:\Fire Pension\Pension List\Pension List 2014\FP 030114 Revised WM
339858.39
12445.69
"(should be off Supplemental amount for DRO
FIREMEN'S RELIEF AND PENSION
REVISED April 4 4
2014 2 4
4 4
THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTED AF
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 10,474.20
1,802.08 7,208.32
109.27 437.08
2,988.76 11,955.04
2,477.42 9,909.68
2,089.28 8,357.12
1,647.63 6,590.52
1,788.90 7,155.60
109.27 437.08
5,376.91 21,507.64
731.61 2,926.44
998.86 3,995.44
4,155.36 16,621.44
1,768.12 7,072.48
3,816.75 15,267.00
141.37 565.48
2,596.69 10,386.76
109.27 437.08
109.27 437.08
1,788.75 7,155.00
1,788.76 7,155.04
3,073.47 12,293.88
0.00 4,549.90
2,274.95 4,549.90
1.647.63 6,590.52
1,522.37 6,089.48
1,711.21 6,844.84
3,775.80 15,103.20
1.647.63 6,590.52
2,868.28 11,473.12
4,077.28 16,309.12
1,631.25 6,525.00
1,753.74 7,014.96
109.27 437.OB
1,334.51 5,338.04
1,304.07 5,216.28
3,180.02 12,720.08
170.60 662.40
109.27 437.06
125.66 502.64
2,191.30 8,765.20
3,518.28 14,073.12
4,120.99 15,483.96
1,899.66 7,598.64
2,765.09 11,060.36
3,647.18 14,588.72
2,346.70 9,386.80
3,535.71 14,142.84
109.27 437.08
1,524.99 6,099.96
3,647.18 14,588.72
806.19 3,224.76
767.80 3,071.20
3,668.10 14,672.40
136.59 546.36
2,502.72 10,010.88
3,077.15 12,308.60
1,691.34 6,765.36
113,286.13 453,144.52
4/22/2014 KAFire PensionTension List\Pension List 2014\FP 040114 Revised VJM
DATE OF
EMP#RETIREMENT
NAME
177
4/04
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
4/68
CHRISTIE, ARNOLD
188
12/05
DOSS, MARION H
188
12/05
DOSS, MARION H plus 25 additional pay
11
2176
FARRAR,ALONZO
192
4/06
FARRAR, DANNY
38
5184
FRALEY, JOSEPH G.
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.
70
11199
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
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
4/85
MC ARTHUR, RONALD A.
35
2/82
MC CHRISTIAN, DWAYNE
15
4177
MC WHORTER, CHARLES
209
8181
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
7188
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
2189
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,RONNIE 0
208
9/88
WRIGHT, Barbara
Regular Mo Year To Date
Benefit Reg Benefit
2,618.55 10,474.20
1,802.08 7,208.32
109.27 437.08
2,988.76 11,955.04
2,477.42 9,909.68
2,089.28 8,357.12
1,647.63 6,590.52
1,788.90 7,155.60
109.27 437.08
5,376.91 21,507.64
731.61 2,926.44
998.86 3,995.44
4,155.36 16,621.44
1,768.12 7,072.48
3,816.75 15,267.00
141.37 565.48
2,596.69 10,386.76
109.27 437.08
109.27 437.08
1,788.75 7,155.00
1,788.76 7,155.04
3,073.47 12,293.88
0.00 4,549.90
2,274.95 4,549.90
1.647.63 6,590.52
1,522.37 6,089.48
1,711.21 6,844.84
3,775.80 15,103.20
1.647.63 6,590.52
2,868.28 11,473.12
4,077.28 16,309.12
1,631.25 6,525.00
1,753.74 7,014.96
109.27 437.OB
1,334.51 5,338.04
1,304.07 5,216.28
3,180.02 12,720.08
170.60 662.40
109.27 437.06
125.66 502.64
2,191.30 8,765.20
3,518.28 14,073.12
4,120.99 15,483.96
1,899.66 7,598.64
2,765.09 11,060.36
3,647.18 14,588.72
2,346.70 9,386.80
3,535.71 14,142.84
109.27 437.08
1,524.99 6,099.96
3,647.18 14,588.72
806.19 3,224.76
767.80 3,071.20
3,668.10 14,672.40
136.59 546.36
2,502.72 10,010.88
3,077.15 12,308.60
1,691.34 6,765.36
113,286.13 453,144.52
4/22/2014 KAFire PensionTension List\Pension List 2014\FP 040114 Revised VJM
DATE OF
EMP#RETIREMENT NAME
Regular Mo Year To Date
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
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
MY COMMISSION EXPIRES:
NOTARY PUBLIC
88100.9810.5335-00
8810-9810-5335-06
Drop PapuUlnlrest Checks to Drop Retirees
YTD Column
Difference
CHAIRMAN AND PRESIDENT
YTD
0.00
453144.52
0.00
12445.69
o 00
0.00
0.00
"(should be off
4/22/2014 K:1Fire PensionlPension ListTension List 2Dl41FP D40114 Revised WM
FIREMEN'S RELIEF AND PENSION
May 5 5
2014 3 5
5 5
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
4/22/2014 K:\Fire Pension\Pension Ust\Pension List 2014\FP 060114 AM
2,618.55 13,092.75
1,802.08 9,010.40
109.27 546.35
2,988.76 14,943.80
2,477.42 12,387.10
2,089.28 10,446.40
1,647.63 8,238.15
1,768.90 8,944.50
109.27 546.35
5,376.91 26,884.55
731.61 3,658.05
998.86 4,994.30
4,155.36 20,776.80
1,768.12 8,840.60
3,816.75 19,083.75
141.37 706.85
2,596.69 12,983.45
109.27 546.35
109.27 546.35
1,788.75 8,943.75
1,788.76 8,943.80
3,073.47 15,367.35
0.00 4,549.90
2,274.95 6,824.85
1,647.63 8,238.15
1,522.37 7,611.85
1,711.21 8,556.05
3,775.80 18,879.00
1,647.63 8,238.15
2,868.28 14,341.40
4,077.28 20,386.40
1,631.25 8,156.25
1,753.74 8,768.70
109.27 546.35
1,334.51 6,672.55
1,304.07 6,520.35
3,180.02 15,900.10
170.60 853.00
109.27 546.35
125.66 628.30
2,191.30 10,956.50
3,518.28 17,591.40
4,120.99 20,604.95
1,899.66 9,498.30
2,765.09 13,825.45
3,647.18 18,235.90
2,346.70 11,733.50
3,535.71 17,678.55
109.27 546.35
1,524.99 7,624.95
3,647.18 18,235.90
806.19 4,030.95
767.80 3,839.00
3,668.10 18,340.50
136.59 682.95
2,502.72 12.513.60
3,077.15 15,385.75
1,691.34 8,456.70
113,286.13 566,430.65
DATE OF
EMP# RETIREMENT
NAME
177
4104
BACHMAN, EDDIE
74
3/86
BAIRD, 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
5190
CATE, ROY
6
4/68
CHRISTIE, ARNOLD
188
12105
DOSS, MARION H
188
12105
DOSS, MARION H plus 25 additional pay
11
2/76
FARRAR,ALONZO
192
4/05
FARRAR, DANNY
38
5/84
FRALEY, JOSEPH G.
170
5103
FREEDLE, LARRY
170
5103
FREEDLE, LARRY plus 25 additional pay
92
03102
GAGE,TOMMY
34
6179
HARRIS, JAMES E.
70
11/99
HARRIS, MARY RUTH
182
10104
JENKINS, EILEEN
93
06102
JENKINS, JOHN
86
07/01
JOHNSON,ROBERT
64
4/95
JORDAN, CHARLIE deceased 2104
219
4/95
JORDAN, SANDRA K
76
5/88
JUDY, JAN
37
3/84
KING, ARNOLD D.
54
5189
KING, ARVIL
173
12/03
LEDBETTER, DENNIS
51
10188
LEWIS, CHARLES
40
9/85
LOGUE, PAUL D.
202
02108
MAHAN, MARSHALL
50
9188
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
2100
MILLER,KENNETH Plus 25 additional pay
217
2/86
MOORE. BETTY L
176
4104
MORRIS, DIXIE E.
48
7188
MULLENS, DENNIS W.
184
3/D5
NAPIER, LONNIE
196
01/02
ONEAL, TEDDY
46
5188
OSBURN,TROY
81
02101
PHILLIPS,LARRY
203
02/08
PIERCE, JOEY
53
2189
POAGE, LARRY
186
06105
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
1100
WARFORD,THOMAS
88
01102
WOOD,RONNIE D
208
9/88
WRIGHT, Barbara
Regular Mo Year To Date
Benefit Reg Benefit
4/22/2014 K:\Fire Pension\Pension Ust\Pension List 2014\FP 060114 AM
2,618.55 13,092.75
1,802.08 9,010.40
109.27 546.35
2,988.76 14,943.80
2,477.42 12,387.10
2,089.28 10,446.40
1,647.63 8,238.15
1,768.90 8,944.50
109.27 546.35
5,376.91 26,884.55
731.61 3,658.05
998.86 4,994.30
4,155.36 20,776.80
1,768.12 8,840.60
3,816.75 19,083.75
141.37 706.85
2,596.69 12,983.45
109.27 546.35
109.27 546.35
1,788.75 8,943.75
1,788.76 8,943.80
3,073.47 15,367.35
0.00 4,549.90
2,274.95 6,824.85
1,647.63 8,238.15
1,522.37 7,611.85
1,711.21 8,556.05
3,775.80 18,879.00
1,647.63 8,238.15
2,868.28 14,341.40
4,077.28 20,386.40
1,631.25 8,156.25
1,753.74 8,768.70
109.27 546.35
1,334.51 6,672.55
1,304.07 6,520.35
3,180.02 15,900.10
170.60 853.00
109.27 546.35
125.66 628.30
2,191.30 10,956.50
3,518.28 17,591.40
4,120.99 20,604.95
1,899.66 9,498.30
2,765.09 13,825.45
3,647.18 18,235.90
2,346.70 11,733.50
3,535.71 17,678.55
109.27 546.35
1,524.99 7,624.95
3,647.18 18,235.90
806.19 4,030.95
767.80 3,839.00
3,668.10 18,340.50
136.59 682.95
2,502.72 12.513.60
3,077.15 15,385.75
1,691.34 8,456.70
113,286.13 566,430.65
DATE OF
EMP#RETIREMENT NAME
Regular Mo Year To Date
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
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
NOTARY PUBLIC
MY COMMISSION EXPIRES:
CHAIRMAN AND PRESIDENT
4/22/2014 KAFire PensionlPension UsWension List 2014\FP 050114 WM
566430.65
12445.69
"(should be off f
YTD
8810-98165335-00
0.00
8814981P5335-06
0.00
Dmp Payou8lntresl Cft MU to Dmp Retirees
0.00
YTD Column
0.00
Difference
0.00
4/22/2014 KAFire PensionlPension UsWension List 2014\FP 050114 WM
566430.65
12445.69
"(should be off f
FIREMEN'S RELIEF AND PENSION
June 6 6
2014 4 6
6 6
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
4/222014 KAFire PensionlPension LisllPension List 20141FP 060114 WM
2,618.55 15,711.30
1,802.08 10,812.48
109.27 655.62
2,988.76 17,932.56
2,477.42 14,864.52
2,089.28 12,535.68
1,647.63 9,885.78
1,788.9D 10,733.40
109.27 655.62
5,376.01 32,261.46
731.61 4,389.66
998.86 5,993.16
4,155.36 24,932.16
1,768.12 10,608.72
3,816.75 22,900.50
141.37 848.22
2,596.59 15,580.14
109.27 655.62
109.27 655.62
1,788.75 10,732.50
1,788.76 10,732.56
3,073.47 18,440.82
0.00 4,549.90
2,274.95 9,099.80
1,647.63 9,885.78
1,522.37 9,134.22
1,711.21 10,267.26
3,775.80 22,654.80
1,647.63 9,885.78
2,868.28 17,209.68
4,077.28 24,463.68
1,631.25 9,787.50
1,753.74 10,522.44
109.27 655.62
1,334.51 8,007.06
1,304.07 7,824.42
3,180.02 19,080.12
170.60 1,023.60
109.27 655.62
125.66 753.96
2,191.30 13,147.80
3,518.28 21,109.68
4,120.99 24,725.94
1,899.66 11,397.96
2,765.09 16,590.54
3,647.18 21,883.08
2,346.70 14,080.20
3,535.71 21,214.26
109.27 655.62
1,524.99 9,149.94
3,647.18 21,883.08
806.19 4,837.14
767.80 4,606.80
3,668.10 22,008.60
136.59 819.54
2,502.72 15,016.32
3,077.15 18,462.90
1,691.34 10,148.04
113,286.13 679,716.78
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
9186
BOUDREY, HOWARD
49
7/88
BOUDREY, JACK
57
5/90
CATE, ROY
6
4168
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.
170
5103
FREEDLE, LARRY
170
5103
FREEDLE, LARRY plus 25 additional pay
92
03/02
GAGE,TOMMY
34
6/79
HARRIS, JAMES E.
70
11199
HARRIS, MARY RUTH
182
10104
JENKINS, EILEEN
93
06102
JENKINS, JOHN
86
07101
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
10188
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
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
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
06105
REAGAN, PETE
201
^02/08
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
9188
WRIGHT. Barbara
Regular Mo Year -To Date
Benefit Reg Benefit
4/222014 KAFire PensionlPension LisllPension List 20141FP 060114 WM
2,618.55 15,711.30
1,802.08 10,812.48
109.27 655.62
2,988.76 17,932.56
2,477.42 14,864.52
2,089.28 12,535.68
1,647.63 9,885.78
1,788.9D 10,733.40
109.27 655.62
5,376.01 32,261.46
731.61 4,389.66
998.86 5,993.16
4,155.36 24,932.16
1,768.12 10,608.72
3,816.75 22,900.50
141.37 848.22
2,596.59 15,580.14
109.27 655.62
109.27 655.62
1,788.75 10,732.50
1,788.76 10,732.56
3,073.47 18,440.82
0.00 4,549.90
2,274.95 9,099.80
1,647.63 9,885.78
1,522.37 9,134.22
1,711.21 10,267.26
3,775.80 22,654.80
1,647.63 9,885.78
2,868.28 17,209.68
4,077.28 24,463.68
1,631.25 9,787.50
1,753.74 10,522.44
109.27 655.62
1,334.51 8,007.06
1,304.07 7,824.42
3,180.02 19,080.12
170.60 1,023.60
109.27 655.62
125.66 753.96
2,191.30 13,147.80
3,518.28 21,109.68
4,120.99 24,725.94
1,899.66 11,397.96
2,765.09 16,590.54
3,647.18 21,883.08
2,346.70 14,080.20
3,535.71 21,214.26
109.27 655.62
1,524.99 9,149.94
3,647.18 21,883.08
806.19 4,837.14
767.80 4,606.80
3,668.10 22,008.60
136.59 819.54
2,502.72 15,016.32
3,077.15 18,462.90
1,691.34 10,148.04
113,286.13 679,716.78
DATE OF
EMP#RETIREMENT NAME
Regular Mo Year To Date
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
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
NOTARY PUBLIC
MY COMMISSION EXPIRES:
CHAIRMAN AND PRESIDENT
4122/2014 K:IFim Pension\Pension List'Pension List 20141FP 060114 WM
679716.78
12445.69
"(should be off Supplemental al
ttD
6010-901"x3 00
0.00
6010-9010-533596
0.00
Orop Payoufllnoest Checks b Drop Re9rees
0.00
YTD Column
0.00
Difference
0.00
4122/2014 K:IFim Pension\Pension List'Pension List 20141FP 060114 WM
679716.78
12445.69
"(should be off Supplemental al
FIREMEN'S RELIEF AND PENSION
July 7 7
2014 5 7
7 7
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
4/22/2014 KAFire Pension{Pension List\Pension List 2014TP 070114 WM
2,618.55 18,329.85
1,802.08 12,614.56
109.27 764.89
2,988.76 20,921.32
2,477.42 17,341.94
2,089.28 14,624.96
1.647.63 11,533.41
1,788.90 12,522.30
109.27 764.89
5,376.91 37,638.37
731.61 5,121.27
998.86 6,992.02
4,155.36 29,087.52
1,768.12 12,376.84
3,816.75 26,717.25
141.37 989.59
2,596.69 18,176.83
109.27 764.89
109.27 764.89
1,788.75 12,521.25
1,788.76 12,521.32
3,073.47 21,514.29
0.00 4,549.90
2,274.95 11,374.75
1,647.63 11,533.41
1,522.37 10,656.59
1,711.21 11,978.47
3,775.80 26,430.60
1,647.63 11,533.41
2,868.28 20,077.96
4,077.28 28,540.96
1,631.25 11,418.75
1,753.74 12,276.18
109.27 764.89
1,334.51 9,341.57
1,304.07 9,128.49
3,180.02 22,260.14
170.60 1,194.20
109.27 764.89
125.66 879.62
2,191.30 15,339.10
3,518.28 24,627.96
4,120.99 28,846.93
1,899.66 13,297.62
2,765.09 19,355.63
3,647.18 25,530.26
2,346.70 16,426.90
3,535.71 24,749.97
109.27 764.89
1,524.99 10,674.93
3,647.18 25,530.26
806.19 5,643.33
767.80 5,374.60
3,668.10 25,676.70
136.59 956.13
2,502.72 17,519.04
3,077.15 21,540.05
1,691.34 11,839.38
113,266.13 793,OD2.91
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
9186
SOUDREY, HOWARD
49
7188
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
5/84
FRALEY, JOSEPH G.
170
5/03
FREEDLE, LARRY
170
5/03
FREEDLE, LARRY plus 25 additional pay
92
D3102
GAGE,TOMMY
34
6/79
HARRIS, JAMES E.
70
11/99
HARRIS, MARY RUTH
182
10/04
JENKINS, EILEEN
93
06/02
JENKINS, JOHN
e6
07/01
JOHNSON,ROBERT
64
4195
JORDAN, CHARLIE deceased 2/04
219
4195
JORDAN, SANDRA K
76
5/88
JUDY, JAN
37
3/B4
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
4/77
MC WHORTER, CHARLES
209
8781
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
MULLEINS, 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
A02/08
REED, JUNE
41
9185
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
1/DO
WARFORD,THOMAS
88
01/02
WOOD,RONNIE D
208
9/86
WRIGHT, Barbara
Regular Mo Year To Date
Benefit Reg Benefit
4/22/2014 KAFire Pension{Pension List\Pension List 2014TP 070114 WM
2,618.55 18,329.85
1,802.08 12,614.56
109.27 764.89
2,988.76 20,921.32
2,477.42 17,341.94
2,089.28 14,624.96
1.647.63 11,533.41
1,788.90 12,522.30
109.27 764.89
5,376.91 37,638.37
731.61 5,121.27
998.86 6,992.02
4,155.36 29,087.52
1,768.12 12,376.84
3,816.75 26,717.25
141.37 989.59
2,596.69 18,176.83
109.27 764.89
109.27 764.89
1,788.75 12,521.25
1,788.76 12,521.32
3,073.47 21,514.29
0.00 4,549.90
2,274.95 11,374.75
1,647.63 11,533.41
1,522.37 10,656.59
1,711.21 11,978.47
3,775.80 26,430.60
1,647.63 11,533.41
2,868.28 20,077.96
4,077.28 28,540.96
1,631.25 11,418.75
1,753.74 12,276.18
109.27 764.89
1,334.51 9,341.57
1,304.07 9,128.49
3,180.02 22,260.14
170.60 1,194.20
109.27 764.89
125.66 879.62
2,191.30 15,339.10
3,518.28 24,627.96
4,120.99 28,846.93
1,899.66 13,297.62
2,765.09 19,355.63
3,647.18 25,530.26
2,346.70 16,426.90
3,535.71 24,749.97
109.27 764.89
1,524.99 10,674.93
3,647.18 25,530.26
806.19 5,643.33
767.80 5,374.60
3,668.10 25,676.70
136.59 956.13
2,502.72 17,519.04
3,077.15 21,540.05
1,691.34 11,839.38
113,266.13 793,OD2.91
DATE OF
EMP#RETIREMENT NAME
Regular Mo Year To Dale
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
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
CHAIRMAN AND PRESIDENT
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF ,
NOTARY PUBLIC
MY COMMISSION EXPIRES:
4/2212014 K: Fire PensionlPension UsllPension List 20141FP 070114 VMA
793002.91
12445.69
"(should be off
YTD
6810-9810-5335-00
0,00
0010.80145335-06
0.00
Drop PayouNnlrest Choc to Drop Re0roes
0.00
YTD Camron
0.00
Difference
0.00
4/2212014 K: Fire PensionlPension UsllPension List 20141FP 070114 VMA
793002.91
12445.69
"(should be off
FOREMMP RELIEF AND PENSION
Muth " 3 3
'"2014 3 3
3 3
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.
Repulm Mo Yem To Dere
Benefit Rep BenePo
2,618.55 7,855.65
1,802.08 5,406.24
109.27
DATE OF
2,988.76
EMPY RETIREMENT
NAME
177
404
BACHMAN, EDDIE
74
3188
BAIRD, JULIA
83
5/72
BOLAIN, ANN
68
7/99
SONADUCE, MICHAEL
44
9/86
BOUDREY, BETTY MRS.
45
am
BOUDREY, HOWARD
49
7188
BOUDREY, JACK
57
5190
CATS, ROY
6
4168
CHRISTIE. ARNOLD
188
1205
DOSS. MARION H
188
1205
DOSS, MARION H pie 25 additional pay
11
2116
FARRARALONZO
192
4106
FARRAR, DANNY
38
5104
FRALEY, JOSEPH G.
170
5103
FREEDLE, LARRY
170
5103
FREEDLE, LARRY pia 25 additl n l pay
92
0302
GAGE,TOMMY
34
6/79
HARRIS, JAMES E.
70
11199
HARRIS, MARY RUTH
182
10104
JENKINS, EILEEN
93
OSM2
JENKINS, JOHN
88
07101
JOHNSON,ROSERT
64
4195
JORDAN, CHARLIE
76
5188
JUDY, JAN
37
3184
KING, ARNOLD D.
54
5189
KING, ARML
173
1203
LEDBETTER, DENNIS
51
10188
LEWIS, CHARLES
40
9185
LOGUE. PAUL D.
202
0208
MAHAN, MARSHALL
50
9188
MASON, LARRY
39
4/85
MC ARTHUR, RONALD A.
35
2182
MC CHRISTIAN, DWAYNE
15
477
MC WHORTER, CHARLES
209
8181
MILLER, ALICE GAYLE
73
200
MILLER,KENNETH
73
200
MILLER,KENNETH pie 25 addalonal pay
217
2186
MOORE, BETTY L
176
4104
MORRIS, DWE E.
48
7188
MULLENS, DENNIS W.
184
305
NAPIER, LONNIE
196
0102
ONEAL, TEDDY
46
5188
OSBURN, TROY
81
0201
PHILLIPS,LARRY
203
02108
PIERCE, JOEY
53
2189
POAGE, LARRY
ISO
DBMS
REAGAN, PETE
201
^0208
REED, JUNE
41
9185
SCHADER, TROY
190
04/06
SHACKELFORD, GLEN
36
5176
SPRINGSTON, CARL
90
03102
STOUT, IMOGENE W.
165
12/02
TATE,RALPH
65
3166
TUNE, BILLIE SUE
71
1100
WARFORD.THOMAS
88
01102
WOOD,RONNIE0
208
9168
WRIGHT. Ba/Oam
Repulm Mo Yem To Dere
Benefit Rep BenePo
2,618.55 7,855.65
1,802.08 5,406.24
109.27
327.81
2,988.76
8,966.28
2,477.42
7.432.26
2,089.28
6,267.84
1,647.63
4.942.89
1,788.90
5,368.70
109.27
327.81
5,376.91
18,130.73
731.61
2,194.83
998.86
2,998.68
4,155.36
12,466.08
1,766.12
5,304.36
3.816.75
11,450.25
141.37
424.11
2,596.69
7,790.07
109.27
327.81
109.27
327.81
1,788.75
5,366.25
1,788.76
5,366.28
3,073.47
9,220.41
2,274.95
6.824.85
1,847.63
4,942.89
1,522.37
4,567.11
1,711.21
5,133.83
3,775.80
11,327.40
1,647.63
4,942.89
2.868.28
8.604.84
4,077.28
12,231.84
1,631.25
4,893.75
1,753.74
5.261.22
109.27
327.81
1,334.51
4,003.53
' 1,304.07
3,912.21
3,180.02
9,540.06
170.60
511.80
109.27
327.81
125.66
376.98
2,191.30
6,573.90
3,518.28
10,554.84
4,120.99
12,362.97
1,899.66
5,698.98
2,765.09
8,295.27
3.647.18
10,941.54
2,346.70
7,040.10
3,535.71
10,607.13
10927
327.81
1,524.99
4,574.97
3,647.18
10,941.54
806.19
2,418.57
767.80
2,303.40
3,668.10
11,004.30
136.59
409.77
2.502.72
7,508.16
3,077.15
9,231.45
1,691.34
5,074.02
113.286.13
339,858.39
11142014 K1Fee PenelonlPmdon UaOPm lon UZI 20147P 030114 WM
DATE OF Regular Mo Yem To Data
EMP# RETIREMENT NAME Belem Reg Benefit
E. THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE
._STAND CORRECT; THAT NO PART THEREOF RAS BEEN PREVIOUSLY PAID; THAT
THE PENSION PAYMENTS SO CHARGED ARE IN ACCORDANCE WITH THE ACTIONS OF
THE BOARD OF TRUSTEES OF THE FIREMENS 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 CHI
SERVICES OR SUPPLIES
"� '�`'F'L�"�"""
SECRETARY
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
�////jjjl,^L� �
SWORN TO AND SUBSCRIBED BEFORE ME THIS0 OF. ='lMll
NOTARY PUBLIC /� /�
MY COMMISSION EXPIRES: (�—.�J, —OZ2-2
1/14/2014 K:71re PensionlPenslon U611Pesion Llsl 2014WP 030114 WM
�I
FIREMENjit RELIEF AND PENSION
API -' 4 4
"2014 4 4
4 4
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,
-/D FOR THE PURPOSE SO STATED.
Regular Mo Year To Dale
Benefit Reg Benefit
2,618.55 10,474.20
1,802.08 7,208.32
10927
DATE OF
2.988.78
EMPA RETIREMENT
NAME
177
4104
BACHMAN, EDDIE
74
306
BAIRD, JULIA
63
5172
BOLAIN, ANN
68
7199
SONADUCE, MICHAEL
44
9188
BOUDREY, BETTY MRS.
45
5186
BOUDREY, HOWARD
49
7188
BOUDREY, JACK
57
5190
CATE. ROY
6
4168
CHRISTIE. ARNOLD
188
12/05
DOSS. MARION H
ISO
12/05
DOSS, MARION H phm 25 a008imel pay
11
2176
FARRARALONZO
192
4106
FARRAR, DANNY
38
5184
FRALEY, JOSEPH G.
170
5103
FREEDLE, LARRY
170
5103
FREEDLE, LARRY plus 25 aa4lUonal pay
92
03102
GAGE,TOMMY
34
6779
HARRIS, JAMES E.
70
11/99
HARRIS, MARY RUTH
182
10104
JENKINS, EILEEN
93
06102
JENKINS, JOHN
86
07101
JOHNSON,ROBERT
64
4185
JORDAN, CHARLIE
76
5188
JUDY, JAN
37
31B4
KING. ARNOLD D.
54
SB9
KING, ARVIL
173
12103
LEDBETTER, DENNIS
51
1088
LEWIS, CHARLES
40
9185
LOGUE, PAUL D.
202
02108
MAHAN. MARSHALL
50
9188
MASON, LARRY
39
4185
MC ARTHUR, RONALD A.
35
2/82
MC CHRISTIAN. DWAYNE
15
4/77
MC WHORTER, CHARLES
209
8181
MILLER, ALICE GAYLE
73
2100
MILLER,KENNETH
73
2010
MILLER,KENNETH plus 25 a0Ci0mrel pay
217
2/88
MOORE. BETTY L
176
4104
MORRIS, OWE E.
48
7188
MULLENS, DENNIS W.
184
3105
NAPIER, LONNIE
196
01102
ONEAL, TEDDY
46
Sm
OSBURN,TROY
81
02101
PHILLIPS,LARRY
203
02108
PIERCE, JOEY
53
2/89
POAGE, LARRY
188
08!05
REAGAN. PETE
201
A02M
REED, JUNE
41
BIBS
SCHADER, TROY
190
04MS
SHACKELFORD, GLEN
36
576
SPRINGSTON, CARL
90
03102
STOUT, IMOGENE W.
165
12/02
TATE,RALPFI
S5
3166
TUNE, BILLIE SUE
71
1100
WARFORD,THOMAS
88
01102
WGOD,RONNIE D
208
SBS
WRIGHT. Barbara
Regular Mo Year To Dale
Benefit Reg Benefit
2,618.55 10,474.20
1,802.08 7,208.32
10927
437.08
2.988.78
11,955.04
2,477.42
9,909.68
2.089.28
8,357.12
1,647.83
6,590.52
1,788.90
7,155.60
109.27
437.08
5.376.91
21,507.64
731.61
2,926.44
998.66
3.995.44
4,155.36
16,621.44
1,768.12
7,072.48
3,816.75
15,267.00
141.37
565.48
2,596.69
10,386.78
109.27
437.08
109.27
437.08
1,788.75
7,155.00
1,788.76
7,155.04
3,073.47
12,283.88
2,274.95
9,099.80
1,647.63
8,590.52
1,52237
6,089.46
1,711.21
6,844.84
3,775.80
15,103.20
1,847.63
6,590.52
2,868.28
11,473.12
4.07728
16.309.12
1,631.25
6,525.00
1,753.74
7,014.96
109.27
437.08
1,334.51
5,338.04
1,304.07
5,216.28
3,180.02
12,720.08
170.60
682.40
109.27
437.08
125.66
502.64
2,191.30
8,765.20
3,516.26
14,073.12
4,120.99
16,483.96
1,899.66
7,598.64
2,765.09
11,060.36
3,647,18
14,588.72
2,346.70
9,386.80
3,535.71
14,142.84
109.27
437.08
1,524.99
6,099.96
3,647.18
14,588.72
806.19
3,224.78
767.80
3,071.20
3,668.10
14,672.40
136.59
546.36
2,502.72
10,010.68
3,077.15
12,300.60
1,691.34
6,765.36
113288.13
453.144.52
1/148014 K:%Fhe Pe ImUlensiDn LN11Pen5ion LiW 20l47P 040114 WM
DATE OF
EMP#RE IREMEN7 NAME
Reguter Mo Year To Date
Bene74 Reg Benefit
E, 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 FIREMENS 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 THI
EXCEED THE AMOUNT ALLOWED BY LAW OR THE CUSTOMARY 1
SERVICES OR SUPPLIES
:•I9L< '
.T77Z -
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME
MY COMMISSION EXPIP
THISaO DAYOF�� (l_t)1a
1114/1014 K1FIre PenWm%Perelon UsnPension Ust 20141FP 040114 WM
t1OTARY
"UDLIG _
FIREMEN'S RELIEF AND PENSION
May 5 5
2014_. 3 5
r 5 5
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
DATE OF
1,802.08
EMP# RETIREMEM
NAME
177
4/04
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
7188
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
4106
FARRAR, DANNY
38
5/84
FRALEY; JOSEPH G.
170
5/03
FREEDLE, LARRY
170
5/03
FREEDLE, LARRY plus 25 additional pay
92
03102
GAGE.TOMMY
34
6179
HARRIS, JAMES E.
70
11199
HARRIS, MARY RUTH
182
10/04
JENKINS. EILEEN
93
06102
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
5189
KING, ARVIL
173
12103
LEDBETTER. DENNIS
51
10/88
LEWIS, CHARLES
40
9185
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
4104
MORRIS. DIXIE E.
48
7188
MULLEINS, DENNIS W.
184
3/05
NAPIER, LONNIE
196
01102
ONEAL, TEDDY
46
5188
OSBURN, TROY
81
02/01
PHILLIPS,LARRY
203
02108
PIERCE, JOEY
53
2189
POAGE, LARRY
186
06105
REAGAN, PETE
201
"02/08
REED, JUNE
41
9185
SCHADER, TROY
190
04106
SHACKELFORD, GLEN
36
5/76
SPRINGSTON, CARL
90
03102
STOUT, IMOGENE W.
165
12/02
TATE, RALPH
65
3166
TUNE, BILLIE SUE
71
1/00
WARFORD,THOMAS
88
01/02
WOOD,RONNIE D
208
9/88
WRIGHT, Baroam
Regular Mo Year To Date
Benefit Reg Benefit
2,618.55
13,092.75
1,802.08
9,010.40
109.27
546.35
2,988.76
14,943.80
2,477.42
12,387.10
2,089.28
10,446.40
1,647.63
8,238.15
1,788.90
8,944.50
109.27
546.35
5,376.91
26,884.55
731.61
3,658.05
998.86
4,994.30
4,155.36
20,776.80
1,768.12
8,840.60
3,816.75
19,083.75
141.37
706.85
2,596.69
12,983.45
109.27
546.35
109.27
546.35
1,788.75
8,943.75
1,788.76
8,943.80
3,073.47
15,367.35
0.00
4,549.90
2,274.95
6,824.85
1,647.63
8,238.15
1,522.37
7,611.85
1,711.21
8,556.05
3,775.80
18,879.00
1,647.63
8,238.15
2,868.28
14,341.40
4,077.28
20,386.40
1,631.25
8,156.25
1,753.74
8,768.70
109.27
546.35
1,334.51
6,672.55
1,304.07
6,520.35
3,180.02
15,900.10
170.60
853.00
109.27
546.35
125.66
628.30
2,191.30
10,956.50
3,518.28
17,591.40
4,120.99
20,604.95
1,899.66
9,498.30
2,765.09
13,825.45
3,647.18
18,235.90
2,346.70
11,733.50
3,535.71
17,678.55
109.27
546.35
1,524.99
7,624.95
3,647.18
18,235.90
806.19
4,030.95
767.80
3,839.00
3,668.10
18,340.50
136.59
682.95
2,502.72
12,513.60
3,077.15
15,385.75
1,691.34
8,456.70
113,286.13
566,430.65
7/31/2014 K:Tire PensionTension ListTenslon List 20141FP 050114 WM
DATE OF
EMP#RETIREMEM NAME
Regular Mo Year To Date
Benefit Reg Benefit
, THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE
tT 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 FO _IMILAfj
SERVICES OR SUPPLIES Ss//
SECRETARY
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
A 0, lmt�
NOTAIRY,,PUBLI'CI 1�-U
MY COMMISSION EXPIRES: W -al 1 . N�-1 D03
7/31/2014 K:1Fire PensiontPension UsOPension List 20141FP 050114 WM
566430.65
12445.69
'(should be off!
no
6010.9910.5a95LD
am
fi010.9910.5]aSaB
a.0a
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a.0a
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am
7/31/2014 K:1Fire PensiontPension UsOPension List 20141FP 050114 WM
566430.65
12445.69
'(should be off!
FIR,.MEN'S RELIEF AND PENSION
June 6 6%
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 50 STATED.
7/31/2014 K:1Fire PensionlPensiun UsllPension 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 '
fib
7199
BONADUCE, MICHAEL
2,988.76
17,932.56
44
9/86
BOUDREY, BETTY MRS.
2,477.42
14,864.52
45
9186
BOUDREY, 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
6/68
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
2176
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
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 2104
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
LEWIS, 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
4/85
MC ARTHUR, RONALD A.
1,753.74
10,522.44
35
2/82
MC CHRISTIAN, DWAYNE
109.27
1
655.62
15
4177
MC WHORTER, CHARLES
1,334.51
8,007.06
209
6/81
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
3/05
NAPIER, LONNIE
3,518.28
21,109.68
196
07102
ONEAL, TEDDY
4,120.99
24,725.94
46
5188
OSBURN, TROY
1,899.66
11,397.96
81
02/01
PHILLIPS,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
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
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
WJ48.04
113,176.86
679,607.51
7/31/2014 K:1Fire PensionlPensiun UsllPension List 2014TP 060114 Revised 073114 WM
DATE OF
EMP#RETIREMENT NAME
Regular Mo Year To Date Ad 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 4T
EXCEED THE AMOUNT ALLOWED BY LAW OR THE CUSTOMARY CHARGE FOR IMILAR
SERVICES OR SUPPLIES
SECRETARY
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS cl l DAY OF W4,1,D4
�4MP&,
NOTARY PUBLIC
MY COMMISSION EXPIRES: U -a IJ /nT
7/3112014 K1Fire PensionWension LisltPension List 20141FP 060114 Revised 073114 WM
0.00
FIREMEN'S RELIFI( 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.
DATE OF
Regular Mo
Year To Date
Act 1373
EMP# RETIREMENT NAME
Benefit
Reg Benefit
Future Supplement
177
4104
BACHMAN, EDDIE
2,618.55
18,329.85
1235.00
74
3/86
. BAIRD, JULIA
1,802.08
12,614.56
1235.00
63
5/72
BOLAIN, ANN
109.27
764.89
247.00
68
7/99
BONADUCE, MICHAEL
2,988.76
20,921.32
1235.00
44
9/86
BOUDREY, BETTY MRS.
2,477.42
17,341.94
1235.00
45
9/86
BOUOREY, HOWARD
2,089.28
14,624.96
1235.00
49
7/88
BOUDREY, JACK
1,647.63
11,533.41
1235.00
57
5/90
CATE, ROY
1,788.90
12,522.30
1235.00
6
4/68
CHRISTIE. ARNOLD
109.27
764.89
247.00
188
12/05
DOSS, MARION H
5,376.91
37,638.37
1235.00
188 '
12/05
DOSS, MARION H plus 25 additional pay
731.61
5,121.27
11
2/76
FARRAR,ALONZO
998.86
6,992.02
1235.00
192
4/06
FARRAR, DANNY
4,155.36
29,087.52
1235.00
38
5/84
FRALEY. JOSEPH G. deceased 5/04
0.00
8,840.60
220
5/84
FRALEY. LORA D.
1,768.12
3,536.24
1235.00
170
5/03
FREEDLE, LARRY
3,816.75
26,717.25
1235.00
170
5/03
FREEDLE, LARRY plus 25 additional pay
141.37
989.59
92
03/02
GAGE,TOMMY
2,596.69
18,176.83
1235.00
34
6179
HARRIS, JAMES E. deceased 5/16
0.00
546.35
70
11/99
HARRIS, MARY RUTH
109.27
764.89
247.00
182
10/04
JENKINS, EILEEN
1,788.75
12,521.25
93
06/02
JENKINS, JOHN
1,788.76
12,521.32
1235.00
86
07/01
JOHNSON,ROBERT
3,073.47
21,514.29
1235.00
64
4/95
JORDAN, CHARLIE deceased 2/04
0.00
4,549.90
219
4/95
JORDAN, SANDRA K
2,274.95
11,374.75
1235.00
,
76
5/88
JUDY, JAN
1,647.63
11,533.41
1235.00
37
3/84
KING, ARNOLD D.
1,522.37
10,656.59
1235.00
54
5/89
KING, ARVIL
1,711.21
11,978.47
1235.00
173
12/03
LEDBETTER. DENNIS
3,775.60
26.430.60
1235.00
51
10/88
LEWIS, CHARLES
1,647.63
11,533.41
1235.00
40
9/85
LOGUE, PAUL D.
2,868.28
20,077.96
1235.00
202
02/08
MAHAN, MARSHALL
4,077.28
28,540.96
1235.00
50
9/88
MASON, LARRY
1,631.25
11,418.75
1235.00
39
4/85
MC ARTHUR, RONALD A.
1,753.74
12,276.18
1235.00
35
2/82
MC CHRISTIAN, DWAYNE
109.27
764.89
247.00
15
4777
MC WHORTER, CHARLES
1,334.51
9,341.57
1235.00
209
8/81
MILLER, ALICE GAYLE
1,304.07
9,128.49
1235.00
73
2/00
MILLER,KENNETH
3,180.02
22.260.14
1235.00
73
2/00
MILLER,KENNETH plus 25 additional pay
170.60
1,194.20
217
2/86
MOORE, BETTY L
109.27
764.89
247.00
176
4/04
MORRIS, DIXIE E.
125.66
879.62
247.00
48
7/88
MULLENS, DENNIS W.
2,191.30
15,339.10
1235.00
184
3/05
NAPIER, LONNIE
3,518.28
24,627.96
1235.00
196
01/02
ONEAL, TEDDY
4,120.99
28,846.93
1235.00
46
5/88
OSBURN, TROY
1,899.66
13,297.62
1235.00
81
02/01
PHILLIPS,IARRY
2,765.09
19,355.63
1235.00
203
02/08
PIERCE, JOEY
3,647.18
25,530.26
1235.00
53
2/89
POAGE, LARRY
2,346.70
16,426.90
1235.00
186
06/05
REAGAN, PETE
3,535.71
24,749.97
1235.00
201
^02/08
REED, JUNE
109.27
764.89
247.00
41
9/85
SCHADER, TROY
1,524.99
10,674.93
1235.00
190
04/06
SHACKELFORD. GLEN
3,647.18
25,530.26
1235.00
36
5/76
SPRINGSTON, CARL
806.19
5,643.33
1235.00
90
03/02
STOUT, IMOGENE W.
767.80
5,374.60
1235.00
165
12/02
TATE, RALPH
3,668.10
25,676.70
1235.00
65
3/66
TUNE, BILLIE SUE
136.59
956.13
247.00
71
1/00
WARFORD,THOMAS
2,502.72
17,519.04
1235.00
88
01/02
WOOD,RONNIE D
3,077.15
21,540.05
1235.00
208
9/88
WRIGHT, Bareara
1,691.34
11,839.38
1235.00
113,176.86
792,784.37
56,316.00
7/31/2014 K:LFire PensionNenslon Ust%Pension List 2014TP 070114 Revised 073114 WM
DATE OF
EMP#RETIREMENT NAME
Regular Mo ' Year To Date Act 1373
Benefit Reg Benefit Future Supplement
247.00
56563.00
56563.00
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 CHARGEF SIMILAR
SERVICES OR SUPPLIES /
SECRETARY
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON) \ n
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
���) 010
NOLO R PUBLIC
MY COMMISSION EXPIRES: Q— 5�
7/31/2014 K:1Fire PensionWension Ust'Pension List 2014WP 070114 Revised 073114 WM
NOTARY
400.
PUB00
0.00
Expenditures
Fire Pension Fund Revenue Expense Summary
3)31!2014
12/3112013
2012
2011
$ 1,420,858.61
2010
2009
2008
2007
2005
2005
Revenues:
Future Supplement
$
-
$ 44,215.00
$ 35,96D.DO
$ 29,618.00
$ 20,664.00
It 24,192.00
$ 31,333.44 $
38,766.00
$ 26,749.00
$ 24,390.00
Employee Contributions
$
-
$
$ -
$ -
$
-
$ -
$ 1,356.43 $
6,987.00
$ 11,853.00
$ 23,439.00
Employer Contributions
$
$ 22,848.00
$
It
$ -
$
-
$ -
$ 2,712.85 $
13,973.00
$ 25,852.00
$ 46,878.00
State Insurance Tax
$
-
$ 220,080.96
111 229,129.75
111 131,537.45
$
122,964.58
$ 125,710.67
$ 146,031.32 $
150,087.00
111 151,580.00
$ 225,492.00
Local village (.4 mills)
$
22,890.45
111 494,749.58
$ 511,981.22
$ 498,380.57
$
508,192.08
$ 485,345.06
111 441,698.50 $
388,877,00
$ 370,649.00
$ 339,416.00
Interest and Dividends
$
29,565.15
$ 138,740.86
$ 162,108.45
$ 171,812,69
It
177,926.35
$ 179,204.26
$ 285,704.47 $
292,444.00
$ 311,217.00
$ 308,578.00
Gain (Loss) on Sal"
S
47,767.12
$ 93,762.08
$ 109,847.78
$ 144,723.49
111
327,952.15
$ 84,355.62
$ (728,856.78) $
421,630.00
$ 383,393.00
$ 297,771.00
Future Supplement
$
.
$ 44,215.00
$ 36,105.00
$ 29,618.00
$
20,564.00
$ 24,192.00
$ 31,333,44 $
38,917.00
$ 27,080.00
S 24,480.00
Miso Revenue
$
303.25
$ 10,70
$ 6.00
$ 33.64
$
972.73
$ 389.74
$ 0.96 S
1,044.00
$ 541.00
$ 176,00
Total Revenue
S
100,525.98
$ 991,559.16
$ 1,049,158.21
$ 976,105.84
$
1,158,671.89
$ 899,197.25
$ 160,179.19 $
1,313,939.01)
$ 1,282,135.00
$ 1,266,230.00
Expenditures
Regular Monthly Benefits
$
339,858.39
It 1,388,308.71
$ 1,420,858.61
$ 1,432,673.42
$ 1,434,268.78
$ 1,434,487.32
$ 1,436,083.26 $
1,431),646.01)
$ 1,281,964.00
IS 1,097,427.00
Future Supplement
$
-
$ 44,215.00
$ 35,96D.DO
$ 29,618.00
$ 20,664.00
It 24,192.00
$ 31,333.44 $
38,766.00
$ 26,749.00
$ 24,390.00
Drop Expense
$
-
$ -
$ -
$ $973.17
$ 43,816.86 $
125,419.00
$ 238,801.00
$ 398,082.00
Investment Manager Fees
$
5,636.00
$ 22,848.00
$ 14,968.63
$ 61,654.29
$ 52,757.01
$ 53,323.12
$ 67,768.33 $
76,464.00
$ 78,764.00
IS 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
$
.
$ -
$ 1,025.00
Bank Fees
$
15.11
S 53.55
$ 16.69
$ 131.87
$ 110.90
$ 207.64
$ 228.60 $
205.OD
$ 202.00
$ 188.00
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
$
345,509.50
111 1,459,073.26
$ 1,475,428.83
$ 1,527,802.58
$ 1,514,548.69
$ 1,518,725.15
111 1,585,419.37 111
1,675,140.00
$ 1,638,607.00
$ 1,809,791.00
Net Income (Loss) Before Market Adj
S
(244,983.62)
$ (467,514.08)
$ (428,270.62)
$ (551,696.74)
$ (355,876.80)
$ (619,527.90)
$ (1,425,240.18) $
(361,201.00)
$ (354,472.00)
$ (343,581.00)
Merkel Adjustment
S 952,001.88
$ 575,241.65
$ 481,480.38
$ 488,158.52
$ 583,853,05
$ (967,119.37) $
3,621.71
$ 280,562.00
$ (378,645.00)
Net Income (Loss)
$
(244,983.52)
$ 484,487.80
$ 148,971.03
$ (70,236.36)
$ 132,281.72
$ (35,674.84)
$ (2,392,359.55) $
(357,579.29)
$ (73,91D.00)
$ (722,206.00)
Book Value Total Reserve Assets• $ 3,427,870.88 $ 3,888,717.01 $ 007,888.38 $ 4,634,064.00 6 6,086,760.74 E 6,441,827.64 $ 8,0$1,166.44 6 7,486,396.00 $ 7,847,597.00 $ 8,202,070.00
Market Value Total Reserve Parasol, 6 4,386,112.31 $ 4,534,331.93 6 4,641,004.55 $ 077,238.82 6 6,564,783.58 $ 5,759,826.37 $ 5,823,183.74 $ 8,216,544.00 $ 8,573,123.00 $ 8,647,034.00
-Assets leas any liabilities
•• Market Value calculated at year and
412112014 C:\Users\IbranwnWpDate\LC iNicrosofi\Wlndo lTemporary Imemet Files\Cordem.0uticok\10JOSLWF\Fim Fenlon Summary
Firemen's Pension Election 2014
Election Nomination Letter April 2, 2014
Nomination Return Date April 15, 2014
Fireman's Pension Election May 31, 2014
Replace Roy Cate and Pete Reagan
Gl ^finn Wnminnfinnc
40 Nomination Letters Sent
13 Nomination Letters were Received by the Deadline
Nomination was Received after the Deadline
Pete
Reagan
Roy Cate
Ralph Tate
Jack
Boudrey
Marion Larry
Doss Freedle
Dennis Troy Schader John
Ledbetter Jenkins
Phone #
841-0320
530-7502
521-8538
409-5670
267-1661 799-4799
267-5057 841-1221 790-3753
263-1525
466-5302
Willing to
Serve
Yes
Yes
Yes
No
No No
No No Yes
40 Nomination Letters Sent
13 Nomination Letters were Received by the Deadline
Nomination was Received after the Deadline
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
GARRISON
F I N A N C I A L
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
Quarter Ending March 31, 2014
PORTFOLIO SUMMARY
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
March 31, 2014
4.5%
■ Cash & Equivalents 195,424.76
■ Account Fixed Income 1,292,739.28
10 Account Equities 2,873,322.17
Garrison Financial
PORTFOLIO APPRAISAL
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
March 31. 2014
1
Unit
Total
Market
Pct.
Unit
Annual
Quantity
Security
Cost
Cost
Price
Value
Assets
Income
Income
Yield
CASH AND EQUIVALENTS
Schwab Advisor Cash Res -
195,424.76
195,424.76
4.5
0.010
19.54
0.0
Premier
195,424.76
195,424.76
4.5
19.54
0.0
TREASURY NOTE
200,000 US Treasury Note
102.22
204,437.50
110.67
221,343.80
5.1
4.000
8,000.00
1.5
4.000% Due 08-15-18
Accrued Interest
972.38
0.0
204,437.50
222,316.18
5.1
8,000.00
1.5
CORPORATEBONDS
50,000
IBM Corp.
100.01
50,004.00
128.93
64,464.45
1.5
7.000
3,500.00
3.9
7.000% Due 10-30-25
Accrued Interest
1,458.33
0.0
_
50,004.00
65,922.78
1.5
3,500.00
3.9
COMMON STOCK
1,710 AT&T, Inc.
24.39
41,702.95
35.07
59,969.70
1.4
1.840
3,146.40
5.2
1,575
AbbVie, Inc.
24.35
38,357.14
51.40
80,955.00
1.9
1.680
2,646.00
3.3
1,575
Abbott Laboratories
22.46
35,371.29
38.51
60,653.25
1.4
0.880
1,386.00
2.3
2,000
American Electric
33.69
67,374.79
50.66
101,320.00
2.3
2.000
4,000.00
3.9
Power
2,300
BCE, Inc. Cl F
24.40
56,110.11
43.14
99,222.00
2.3
2.500
5,750.00
5.8
700
Chevron Corporation
73.07
51,150.83
118.91
83,237.00
1.9
4.000
2,800.00
3.4
3,000
Cisco Systems, Inc.
17.43
52,302.90
22.41
67,245.00
1.5
0.760
2,280.00
3.4
2,200
Coca-Cola Company
26.40
58,074.28
38.66
85,052.00
2.0
1.220
2,684.00
3.2
1,200
ConocoPhillips
44.94
53,930.85
70.35
84,420.00
1.9
2.760
3,312.00
3.9
833
Duke Energy Corp.
57.48
47,880.86
71.22
59,326.22
1.4
3.120
2,598.96
4.4
750
Emerson Electric
38.01
28,509.22
66.80
50,100.00
1.1
1.720
1,290.00
2.6
3,000
General Electric Co.
15.96
47,883.00
25.89
77,670.00
1.8
0.880
2,640.00
3.4
900
Genuine Parts Co.
36.65
32,986.53
86.85
78,165.00
1.8
2.300
2,070.00
2.6
1,500
GlaxoSmithKline Plc
38.47
57,702.15
53.43
80,145.00
1.8
3.000
4,500.00
5.6
ADA
450
IBM Corporation
122.43
55,091.76
192.49
86,620.50
2.0
3.800
1,710.00
2.0
3,725
Intel Corp.
17.61
65,581.48
25.81
96,157.15
2.2
0.900
3,352.50
3.5
1,115
Johnson & Johnson
60.77
67,758.33
98.23
109,526.45
2.5
2.640
2,943.60
2.7
850
Kimberly Clark Corp.
60.71
51,599.58
110.25
93,712.50
2.1
3.630
3,085.50
3.3
2,700
Microsoft Corp.
26.30
71,001.40
40.99
110,673.00
2.5
1.120
3,024.00
2.7
3,120
Pfizer, Inc.
16.52
51,554.12
32.12
100,214.40
2.3
1.040
3,244.80
3.2
1,000
Procter & Gamble Co.
50.46
50,458.56
80.60
80,600.00
1.8
2.410
2,410.00
3.0
1,400
Wal-Mart Stores, Inc.
50.36
70,497.97
76.43
107,002.00
2.5
2.000
2,800.00
2.6
1,152,880.11
1,851,986.17
42.5
63,673.76
3.4
MUTUALFUNDS
1,296.008
Columbia Acom Intl Z
38.58
50,000.00
47.25
61,236.38
1.4
1.430
1,853.29
3.0
14,455.268
Fed Interm Corp Bond
9.69
140,000.00
9.57
138,336.91
3.2
0.400
5,782.11
4.2
7,651.109
Natixis Loomis Sayles
13.07
100,000.00
13.10
100,229.53
2.3
0.460
3,519.51
3.5
Bond Fund
3,600.360
PIMCO Total Return Cl
11.11
40,000.00
10.78
38,811.88
0.9
0.160
576.06
1.5
D
4,683.407
SteelPath MLP Income
10.68
50,000.00
10.85
50,814.97
1.2
0.780
3,653.06
7.2
1,833.272
Vanguard Developed
27.27
50,000.00
33.44
61,304.62
1.4
0.900
1,649.94
2.7
Markets
1,443.113
Vanguard Emerging
34.65
50,000.00
32.45
46,829.02
1.1
0.340
490.66
1.0
Markets
1
TOTAL PORTFOLIO
3,333,637.00 4,361,486.21 100.0 124,671.82 - 2.7
You should carefully compare this statement to the statement you receive from your custodian and notify us immediately of any discrepancies.
2
Garrison Financial
PORTFOLIO APPRAISAL
City
of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
March 31, 2014
Unit
Total
Market
Pct.
Unit
Annual
Quantity
Security
Cost
Cost Price
Value
Assets
Income
Income
Yield
2,615.123
Vanguard Hi -Div Yld
19.12
50,000.00 25.01
65,404.23
1.5
0.820
2,144.40
3.3
3,412.116
Vanguard Mid -Cap
29.31
100,000.00 39.86
136,006.94
3.1
0.020
68.24
0.1
Growth
3,410.952
Vanguard Mid -Cap
29.32
100,000.00 42.89
146,295.73
3.4
0.040
136.44
0.1
Value
3,290.816
Vanguard Small -Cap
30.39
100,000.00 43.66
143,677.03
3.3
0.020
65.82
0.0
Growth
3,324.742
Vanguard Small -Cap
30.08
100,000.00 43.25
143,795.09
3.3
0.040
132.99
0.1
Value
930,000.00
1,132,742.32
26.0
20,072.51
1.8
UNIT TRUSTS
2,500
Sector Utility Select Shs
31.96
79,899.25 41.46
103,650.00
2.4
1.600
4,000.00
3.9
1,400
iShares Barclays 7-10
104.43
146,198.70 101.73
142,422.00
3.3
1.990
2,786.00
2.0
yr Treasury
850
iShares DJ Select Div
47.39
40,285.75 73.32
62,322.00
1.4
2.200
1,870.00
3.0
5,000
iShares IBOXX Inv
106.90
534,506.93 116.94
584,700.00
13.4
4.150
20,750.00
3.5
Grade Corp Bond
800,890.63
893,094.00
20.5
29,406.00
3.3
TOTAL PORTFOLIO
3,333,637.00 4,361,486.21 100.0 124,671.82 - 2.7
You should carefully compare this statement to the statement you receive from your custodian and notify us 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 03-31-14
Trade Settle Unit
Date Date Quantity Security Price Amount
PURCHASES
03-21-14 03-24-14 10,471.204 Fed Interm Corp Bond
03-21-14 03-24-14 7,651.109 Natixis Loomis Sayles Bond Fund
SALES
02-05-14
02-10-14
250 Emerson Electric
02-05-14
02-10-14
1,000 General Electric Co.
02-05-14
02-10-14
500 GlaxoSmithKline Plc ADR
02-05-14
02-10-14
1,000 Pfizer, Inc.
03-21-14
03-24-14
200,000 US Treasury Note
4.000% Due 08-15-18
9.55 100,000.00
13.07 100,000.00
200,000.00
63.80 15,949.02
24.53 24,533.62
51.69 25,846.60
30.66 30,663.52
110.65 221,305.62
318,298.38
TOTAL REALIZED GAIN/LOSS 52,639.00
NO CAPITAL GAINS DISTRIBUTIONS
Garrison Financial
REALIZED GAINS AND LOSSES
City of Fayetteville Firemen rs Pension & Relief Fund
Charles Schwab #7851-1206
From 01-01-14 Through 03-31-14
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 ADR 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
TOTAL GAINS
0.00
52,639.00
TOTAL LOSSES
0.00
0.00
265,659.38 318,298.38
0.00
52,639.00
TOTAL REALIZED GAIN/LOSS 52,639.00
NO CAPITAL GAINS DISTRIBUTIONS
Garrison Financial
PERFORMANCE SUMMARY
GROSS OF FEES
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
March 31, 2014
PORTFOLIO COMPOSITION
CHANGE IN PORTFOLIO
TIME WEIGHTED RETURN
Annualized
Market
Pct.
Last 12
Inception
To Date
Value
Assets
Yield
Account
2.02
Cash & Equivalents
195,424.76
4.5
0.0
Portfolio Value on 12-31-13
4,521,868.03
Account Fixed
1,292,739.28
29.6
3.0
Accrued Interest
6,583.33
Income
Account Fixed Income
2.37
2.37
-0.58
2.03
Account Equities
2,873,322.17
65.9
2.8
Net Additions/Withdrawals
-252,522.40
Account
0.00
0.0
-
Realized Gains
-6,351.62
Commodities
14.55
16.38
S&P 500
1.81
1.81
21.86
20.50
Unrealized Gains
62,138.68
Income Received
33,922.81
Change in Accrued Interest
-4,152.62
Portfolio Value on 03-31-14
4,359,055.50
Accrued Interest
2,430.71
Total
4,361,486.21
100.0
2.7
4,361,486.21
TIME WEIGHTED RETURN
Annualized
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.
Quarter
Year
Last 12
Inception
To Date
To Date
Months
To Date
Account
2.02
2.02
8.87
10.61
40% Fixed Income/60%
1.53
1.53
12.69
12.61
Equity Blended Index
Account Fixed Income
2.37
2.37
-0.58
2.03
Barclays Capital Intermed
1.00
1.00
-0.13
1.36
Govt/Credit
Account Equities
2.04
2.04
14.55
16.38
S&P 500
1.81
1.81
21.86
20.50
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.
GARRISON
F I N A N C I A L
April 4, 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 January 1 through March 31, 2014
Portfolio Value as of 12-31-13
4,528,451
Portfolio Value as of 01-31-14
4,402,433
Portfolio Value as of 02-28-14
4,421,666
Portfolio Value as of 03-31-14
4,361,486
Average of 4 Months 4,428,509
4,428,509 @ 0.5000% per annum 5,536
Quarterly Management Fee 5,536
"TAL DiiE A1�1D P 3 ABLE 5536
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.
w
OV.
54- ■ Mid Yield To Maturity 2.702
T High on 04/02/14 2.805
Average 2.706 ._.... _...... --------.:........... _....
1 Low on 02/03/14 2.577 ................. .................. ... _....._ .___.................._ ......... ... ,-...kh
____.._.....F2.750
F2.650
PIM
Jan 31
Feb 14
Feb 28
Mar 14
Mar 31
Apr 15
2014
Australia 61 2
9777 8600 Brazil 5511
3048 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 H698-3177-3
24 -Apr -2014 11;28;50
T 2 4 02/15/24 T100-13+ - 00+ 100-1 /100-13+ 2.70 /2.701 --x--
At 11:27 OD 100-14 Hi 100-18+ Lo 100-05 Prev 100-14 BGN
W1a
"444■ Mid yield To Maturity 2.703
F T High on 12/31/13 3.029
+Average 2.597 ...... .. ..:.........:
1Law an 05/02/13 1.626
Z9
.........:...........:............:...........:F 3.000
_A .......�........ F2.800
- � F 2.600
F2.400
000
.....,
.... ..".
: . :..................
-1.800
.._ .......i .....
.::
_............`.
...._.: .._.... ..1.600
Apr May
Jun
Jul Aug Sep Oct
Nov
Dec
Jan Feb Mar Apr
2013
1 2014
Australia
61 2 9777
8600 Brazil 5511 3048 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 H698-3177-3 24 -Apr -2014 11:27;59
1001ki i
GARRISON
ASSET MANAGEMENT
nvestment Scenarios for. Scenario Name
Firemen's Pension & Relief Fund ease Case
605 W. Dickson St. Suite 201
Fayetteville, AR 72701
479-587-1045 Telephone
479-587-1257 Facsimile
888-442-7637 Toll Free
w .GarrisonFinancial mm
1
3
5
6
7
Pension & Relief Fund
I Estimates
4/24/2014 Scenario Name: Base Case
Years 12
4,301,414.25 1.00 4,301,414.25 1.0000 4,301,414.25 Iterations 1000
1.0000 - $ Hurdle -
1 0000 - Cost Inflation 01
1.0000 - Wage Inflation -
- 1.0000 - Curtenl Age 1 �
0000
_ - - 1.0000 -
1.0000
1 _ 1 100 Withdrawals - Yr Ending 312014 639,000 1 100 0.3000 447,300
2 _ 1 100 Expense 2 - 1 100 0.3000 -
3 - 1 100 Expense 3 - 1 100 0.3000 -
4 - 7 100 Expense 4 - 1 100 0.3000 -
5 - 1 100 Expense 5 - 1 100 0.3000 -
6 1 100 Ex ense 6 1 100 0.3000
erSavings -
i
100
erSavings -
1
100
erSavings
L
- 1
100
erSavings
- 1
100
er Savings
- 1
100
e, c -,a—
_ 1
100
Bonds
0.0300 0.0380 0.4000
<--- Enter additional asset
<-- Enter additional asset
A I
B 1
C 1 0 1E
F
G H I
J I
K
L
M
Garrison Asset Management, LLC
]
Firemen's Pension
& Relief Fund
o
Portfolio Estimates Output
C
04/24114
s
a
e
9
10
Year #
Year Age Income
Expenses
Beg. Port.
Earnings Deposits
Withdrawals
WD Pct.
End Port.
Av . Res.
Success %
11
1
2014
1 -
639,000.00
4,301,414.25
219,744.86 -
639,000.00
0.1486
3,882,159.11
3,900,710.28
1.0000
,z
2
2015
2 -
639,000.00
3,882,159.11
194,589.55 -
639,000.00
0.1646
3,437,748.65
3,463,296.33
1.0000
,3
3
2016
3 -
639,000.00
3,437,748.65
167,924.92 -
639,000.00
0.1859
2,966,673.57
2,981,750.18
1.0000
„
4
2017
4 -
639,000.00
2,966,673.57
139,660.41 -
639,000.00
0.2154
2,467,333.98
2,481,540.23
1.0000
,s
5
2018
5 -
639,000.00
2,467,333.98
109,700.04 -
639,000.00
0.2590
1,938,034.02
1,956,907.56
0.9990
,s
6
2019
6 -
639,000.00
1,938,034.02
77,942.04 -
639,000.00
0.3297
1,376,976.07
1,465,802.45
0.9500
17
7
2020
7 -
639,000.00
1,376,976.07
44,278.56 -
639,000.00
0.4641
782,254.63
1,069,242.59
0.8150
,a
8
2021
8 -
639,000.00
782,254.63
8,595.28 -
639,000.00
0.8169
151,849.91
876,850.22
0.5340
,0
9
2022
9 -
639,000.00
151,849.91
(29,229.01) -
639,000.00
4.2081
(516,379.10)
813,521.48
0.2770
m
10
2023
10 -
639,000.00
(516,379.10)
(69,322.75) -
639,000.00
(1.2375)
(1,224,701.84)
757,684.42
0.1330
2,
11
2024
11 -
639,000.00
(1,224,701.84)
(111,822.11) -
639,000.00
(0.5218)
(1,975,523.96)
869,727.84
0.0580
12
2025
12
639,000.00
1,975,523.96
156,871.44 -
639,000.00
0.3235
(2,771,395.39)
908,060.70
0.0270
rJ
Total
7,668,000.00
595,190.36
7,668,000.00
5,000,000.00
4,000,000.00
2,000,000.00
11000,000.00
d
A
V!
(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. 6 Success %
1.2000 1
mI
0.8000 I
0.4000 1
0.2000 1
following information explains certain cells on the "Investment Estimates" Page.
"Years" cell tells the program how many years to run the scenario.
"Iterations" cell tells the model how many random scenarios to run in each of the future years.
"$ 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
out of money and the ending portfolio was zero or below.
"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%.
"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.
.03 = 3%.
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
servative to assume cash flows occur at the beginning of each year, particularly in the case of withdrawals.
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
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
ribution 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.
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 Pet." 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 V 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 ofyour 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 plannirn
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.