HomeMy WebLinkAbout2015-02-19 - Agendas - FinalLioneld Jordan Chairman
Sondra E. Smith Secretary
Roy Cate Position 1 Retired
Firemen's Pension and Relief Fund
Board of Trustees Meeting Agenda
February 19, 2015
Pete Reagan Position 2 Retired
Dennis Mullens Position 3 Retired
Ron Wood Position 4 Retired
A meeting of the Fayetteville Firemen's Pension and Relief Fund Board of Trustees will be
held at 3:00 p.m. on February 19, 2015 in Room 326 of the City Administration Building.
Call to Order
Roll Call
Garrison Financial:
• 3rd Quarter and 4th Quarter reports
Approval of the Minutes:
• Approval of the July 31, 2014 meeting minutes
• October 30, 2014 meeting was cancelled due to lack of a quorum
• January 29, 2015 meeting was rescheduled to February 19, 2015
Pension List Changes:
• Arnold Christie deceased September 19, 2014
Approval of the Pension List:
• Re -approval of the October, 2014 pension list
• Approval of the November, December 2014 and January 2015 pension lists
• Approval of the February, March, and April, 2015 pension lists
New Business:
• Revenue and Expense Report 09/30/14
• Pension Transfers — Deputy Clerk to sign transfers in absence of City Clerk
• Osborn, Carrerio & Associates estimated 2015 Premium Tax Allocation
• Pension Review Board (PRB) Funding Status Letter — Need to respond
Informational:
0 2015 meeting schedule
•
Fayetteville Fireman's Pension and Relief Fund
Meeting Date 4,bOWN 1q, ID15
Adjourn Time
Attendees:
Subject:
Motion By:
Seconded:
Roy Cate
/
Mayor Jordan
✓
Dennis Mullens
✓
Pete Reagan
,✓
Sondra Smith
✓
Ronnie Wood
Qp
Subject:
Motion By:
Seconded:
Roy Cate
/
Mayor Jordan
✓
Dennis Mullens
✓
Pete Reagan
✓
Sondra Smith
✓
Ronnie Wood
.Q
-*I
Subject:
Oct. a o t v
P�,► � Nav, Ot,-, aoIy
Pao, ad,, n4d,
Motion By:
Seconded:
Roy Cate
/
Mayor Jordan
✓
Dennis Mullens
✓
Pete Reagan
t�
Sondra Smith
✓�
Ronnie Wood
.Q
Subject:
Motion By:
Seconded:
Roy Cate
/
Mayor Jordan
Dennis Mullens
✓
Pete Reagan
t�
Sondra Smith
✓
Ronnie Woodtj
ti it!
40-11 4vis
#,*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 September 30, 2014
PORTFOLIO SUMMARY
City of Fayetteville Firemen's Pension & Relief Fund
63.1%
Charles Schwab #7851-1206
September 30, 2014
N Cash & Equivalents 282,457.83
■ Account Fixed Income 1,302,191.13
Account Equities 2,711,799.50
Garrison Financial
PORTFOLIO APPRAISAL
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
September 30, 1014
Adj Unit Total Adjusted Market Pct. Unit Annual
Quantity Security Cost Cost Price Value Assets Income Income
CASH AND EQUIVALENTS
Schwab Advisor Cash Res -
Premier
Yield
282,457- 83 282,457 83 6.6 0.010 2825 00
282,457.83 282,457.83 66 2825 ob
TREASURY NOTE
200,000
US Treasury Note
100.79
201,589,96
10956
219,125 00
5.1
4 000
8,000.00
1.5
4.000% Due 08-15-18
Accrued Interest
1,000.00
0.0
201,589.96
220,125.00
5.1
8,000.00
1,5
CORPORATE BONDS
50,000
IBM Corp
100.01
50,002.87
132.25
66,125.35
1.5
7,000
3,500.00
35
7,000% Due 10-30-25
Accrued Interest
1,458 33
0.0
50,002.87
67,583.68
16
3,500.00
3.5
COMMON STOCK
1,710
AT&T, Inc.
24.39
41,702.95
35.24
60,260.40
1 4
1 840
3,146.40
5,2
1,575
AbbVie, Inc.
24.35
38,357.14
57.76
90,972.00
2 1
1.680
2,646.00
2.9
1,575
Abbott Laboratories
22.46
35,371.29
41.59
65,504.25
1 5
0.880
1,386.00
2.1
1,000
American Electric
33.69
33,68739
52.21
52,210.00
1 2
2000
2,000.00
3.8
Power
2,300
BCE, Inc.. Cl F
24.40
56,110.11
42.76
98,348.00
2.3
2200
5,060.00
5.1
700
Chevron Corporation
73.07
51,150.83
119.32
83,524.00
1.9
4 280
2,996.00
3.6
3,000
Cisco Systems, Inc.
17.43
52,302.90
25.17
75,510.00
1.8
0 760
2,280.00
3.0
2,200
Coca-Cola Company
26.40
58,074.28
4166
93,852.00
2.2
1220
2,684.00
2.9
1,200
ConocoPhillips
44.94
53,930.85
76.52
91,824.00
2.1
2.920
3,504.00
3.8
833
Duke Energy Corp.
57.48
47,880.86
74.77
62,283.37
1.4
3.180
2,648.94
43
750
Emerson Electric
38.01
28,509.22
62.58
46,935.00
1.1
1.720
1,290.00
2.7
3,000
General Electric Co.
15.96
47,883.00
25.62
76,860.00
1.8
0 880
2,640.00
3.4
900
Genuine Parts Co.
36.65
32,986.53
87.71
78,939.00
1.8
2.300
2,070,00
2.6
1,500
GlaxoSmithKline Plc.
38.47
57,702,15
45.97
68,955:00
1.6
2.650
3,975.00
5.8
450
IBM Corporation
122.43
55,091.76
189.83
85,423.50
2.0
4.400
1,980.00
2.3
3,725
Intel Corp.
1761
65,581.48
34.82
129,704.50
3.0
0.900
3,352.50
2.6
815
Johnson & Johnson
60,77
49,527.39
106.59
86,870.85
2.0
2.800
2,282.00
2.6
850
Kimberly Clark Corp,
60.71
51,599.58
107.57
91,434.50
2.1
3.360
2,856.00
3.1
1,300
Microsoft Corp.
26.30
34,185.86
46.36
60,268.00
1.4
1240
1,612.00
2.7
1,520
Pfizer, Inc.
16.52
25,116.11
29.57
44,946.40
1.0
1.040
1,580.80
15
1,000
Procter & Gamble Co.
50.46
50,458.56
83.74
83,740,00
1.9
1570
2,570.00
3.1
700
Wal-Mart Stores, Inc,
5036
35,248.98
76.47
53,529.00
1.2
1.920
1,344.00
2.5
1,002,459.24
1,681,893.77
39.1
55,903.64
3.3
MUTUAL FUNDS
1,296.008
Columbia Acorn Intl Z
38.58
50,000.00
45 38
58,812.84
1.4
0.720
933.13
1.6
14,455.268
Fed Interm Corp Bond
9.69
140,000.00
9 57
138,336.91
3,2
0.360
5,203.90
3.8
7,651.109
Natixis Loomis Sayles
13.07
100,000.00
13 18
100,841.62
23
0.400
3,060.44
3.0
Bond Fund
3,600.360
PIMCO Total Return Cl
11.11
40,000.00
10 87
39,135.91
0.9
0200
720.07
1.8
D
4,683,407
SteelPath MLP Income
10.68
50,000.00
11 70
54,795.86
1.3
0.780
3,653.06
6.7
4,558 369
Vanguard Developed
10.97
50,000.00
1277
58,210.38
1.4
0.460
2,096.85
3.6
Markets
1,387.374
Vanguard Emerging
36.04
50,000.00
34.68
48,114.13
1.1
0.980
1,359.63
2,8
Mkts Stk Index
2,615 123
Vanguard Hi -Div Yld
19.12
50,000.00
2629
68,751.58
1.6
0.720
1,882.89
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
September 30, 2014
Adj Unit
Total Adjusted
Market
Pct.
Unit
Annual
Quantity
Security
Cost
Cost Price
Value
Assets
Income
Income
4'icId
3,412.116
Vanguard Mid-Cap
29.31
100,000.00 41.46
141,466.33
3 3
0.000
0.00
0.0
Growth
3,410.952
Vanguard Mid-Cap
2932
100,000 00 44.00
150,081,89
3.5
0.000
000
0.0
Value
3,290.816
Vanguard Small-Cap
30.39
100,000 00 42.30
139,201.52
3.2
0.000
0.00
00
Growth
3,324.742
Vanguard Small-Cap
3008
100,000.00 42.85
142,465.19
3.3
0.000
0.00
0.0
Value
930,000.00
1,140,214.17
26.5
18,909.96
1.7
UNIT TRUSTS
2,500
Sector Utility Select Shs
31.96
79,899.25 42.09
105,225.00
2.4
1.520
3,800.00
3.6
1,400
iShares Barclays 7- 10
10443
146,198.70 103.62
145,068.00
3,4
2.110
2,954.00
2.0
yr Treasury
850
iShares DJ Select Div
4739
40,285.75 73.86
62,781.00
1.5
2.350
1,997.50
3.2
5,000
iShares IBOXX Inv
106.90
534,506.93 118.22
591,100.00
13.8
4,180
20,900.00
3.5
Grade Corp Bond
800,890 63
904,174.00
21.0
29,651.50
3 3
TOTAL PORTFOLIO
3,267,400.53
49296,448.45
100.0
115,993.34
2,6
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 09-30-14
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
05-06-14
05-09-14
1,000 American Electric Power
52.96
52,960.88
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.
51.69
25,846.60
05-06-14
05-09-14
300 Johnson & Johnson
99.64
29,891.69
05-06-14
05-09-14
100 Microsoft Corp.
39.04
3,903.77
05-06-14
05-09-14
1,300 Microsoft Corp.
39.03
50,743.87
02-05-14
02-10-14
1,000 Pfizer, Inc.
30.66
30,663.52
05-06-14
05-09-14
1,600 Pfizer, Inc.
29.48
47,175.61
03-21-14
03-24-14
200,000 US Treasury Note
110.65
221,305.62
4.000% Due 08-15-18
05-06-14
05-09-14
500 Wal-Mart Stores, Inc.
78.13
39,065.25
05-06-14
05-09-14
200 Wal-Mart Stores, Inc.
78.13
15,625.29
557,664.74
Garrison Financial
REALIZED GAINS AND LOSSES
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
From 01-01-14 Through 09-30-14
Gain Or Loss
Open Close
Cost
Amort. or
Date Date
Quantity Security
Basis
Accretion
Proceeds
Short Term
Long Term
12-31-05 02-05-14
1,000 General Electric Co.
15,961.00
24,533.62
8,572.62
12-31-05 02-05-14
250 Emerson Electric
9,503.07
15,949.02
6,445.94
12-31-05 02-05-14
1,000 Pfizer, Inc.
16,523.76
30,663.52
14,139.76
12-31-05 02-05-14
500 GlaxoSmithKline Plc.
19,234.05
25,846.60
6,612.55
12-31-05 03-21-14
200,000 US Treasury Note
204,437,50
-2,646.83
221,305.62
19,514.95
4.000% Due 08-15-18
12-31-05 05-06-14
1,000 American Electric Power
33,687.39
52,960.88
19,273.48
12-31-05 05-06-14
100 Microsoft Corp.
2,629.68
3,903.77
1,274.09
12-31-05 05-06-14
1,300 Microsoft Corp
34,185.86
50,743.87
16,558.01
12-31-05 05-06-14
300 Johnson & Johnson
18,230.94
29,891.69
11,660.75
12-31-05 05-06-14
1,600 Pfizer, Inc.
26,438.01
47,175.61
20,737.60
12-31-05 05-06-14
500 Wal-Mart Stores, Inc.
25,177.85
39,065.25
13,887 40
12-31-05 05-06-14
200 Wal-Mart Stores, Inc.
10,071.14
15,625.29
5,554.15
TOTAL GAINS
0.00
144,231.31
TOTAL LOSSES
0.00
0.00
416,080.26
-2,646.83
557,664.74
0.00
144,231.31
TOTAL REALIZED GAIN/LOSS
144,231.31
CAPITAL GAIN DISTRIBUTIONS
06-04-14
Columbia Acorn Intl Z
664.37
TOTAL DISTRIBUTIONS 664.37
0.00
664.37
0,00
144,895.68
TOTAL GAIN/LOSS
144,895.68
Garrison Financial
PERFORMANCE SUMMARY
GROSS OF FEES
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
September 30, 2014
PORTFOLIO COMPOSITION
Total
Account
40% Fixed Income/60%
Equity Blended Index
Account Fixed Income
Barclays Capital Intermed
Govt/Credit
Account Equities
S&P 500
4,296,448.45 100.0 2.6
CHANGE IN PORTFOLIO
Portfolio Value on 12-31-13
Market
Pct.
6,583.33
Net Additions/Withdrawals
Value
Assets
Yield
Cash & Equivalents
282,457.83
6.6
0.0
Account Fixed
11302,191.13
30.3
3.0
Income
2,458.33
12.50
4,296,448.45
Account Equities
2,711,799.50
63.1
2.6
Account
0.00
0.0
-
Commodities
6.48
14.73
14.93
Total
Account
40% Fixed Income/60%
Equity Blended Index
Account Fixed Income
Barclays Capital Intermed
Govt/Credit
Account Equities
S&P 500
4,296,448.45 100.0 2.6
CHANGE IN PORTFOLIO
Portfolio Value on 12-31-13
4,521,868.03
Accrued Interest
6,583.33
Net Additions/Withdrawals
-464,861.15
Realized Gains
2,332.74
Unrealized Gains
142,615.69
Income Received
93,928.27
Change in Accrued Interest
-4,125.00
Portfolio Value on 09-30-14
4,293,990.12
Accrued Interest
2,458.33
12.50
4,296,448.45
TIME WEIGHTED RETURN
All "Account" returns refer to your portfolio. Benchmark indexes are also listed for reference. All returns are reported as
percentages.
This report is calculated using industry -standard accounting and performance calculation methodologies and is generated by our Axys
portfolio accounting software. Calculations are a time -weighted total return series based on monthly valuations, including all cash
and equivalents. All calculations are done based on trade date, employing the accrual method of accounting and include cash,
interest, dividends and realized and unrealized gains and losses. Performance is adjusted to accurately reflect portfolio deposits and
withdrawals. Results are presented after transaction costs but before management fees. Inception -to -date returns are annualized
numbers, except for accounts under management less than one year. Unsupervised assets are excluded in performance calculation.
At any given point in time an investment may be worth more or less than the original purchase price.
Annualized
Quarter
Year
Last 12
Inception
To Date
To Date
Months
To Date
-0.71
5.63
10.81
9.96
0.68
5.92
12.50
11.89
-0.02
4.87
4.96
2.57
-0.03
2.21
2.19
1.56
-1.12
6.48
14.73
14.93
1.13
8.34
19.73
19.09
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.
I1�1'
GARRISON
F I N A N C I A L
October 7, 2014
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
113 West Mountain Street
Fayetteville, AR 72701-6069
STATEMENT OF MANAGEMENT FEES
For The Period July 1 through September 30, 2014
Portfolio Value as of 06-30-14 4,347,924
Portfolio Value as of 07-31-14 4,272,859
Portfolio Value as of 08-31-14 4,377,962
Portfolio Value as of 09-30-14 4,296,448
Average of 4 Months 4,323,798
4,323,798 @ 0.5000% per annum 5,405
Quarterly Management Fee 5,405
TOTAL DUE AND PAYABLE 5,405
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.
ii SCANNED
January 9, 2015
Ms. Sondra Smith
City of Fayetteville
113 West Mountain Street
Fayetteville, Arkansas 72701
Dear Ms. Smith,
_GARRISON
RECEIVED
JAN 0 9 2015
CITY CLERK'S OFFICE
Enclosed are the quarterly reports for both Firemen's Pension & Relief Fund and Police Pension and Relief
Fund for the quarter ended December 31, 2014.
The equity markets clocked in another positive quarter with the 4th quarter gaining +4.93%, ending the year
with a total gain of +13.69% as measured by the S&P 500. In spite of the impressive index gain, not all stocks
had a good year. When breaking down the return components, it's easy to see a lot of the performance came
from just a few of the mega cap stocks that performed well (such as Apple, Johnson & Johnson, Intel, Microsoft
and Berkshire Hathaway) while 122 of the 500 stocks in the index ended in the red. The worst 50 performing
stocks in the index lost an average of -24.42%.
Sector performance was perplexing as well. Utilities led the market, rising +24%. Healthcare was the second
best performing group, up +23%. With rising interest rate expectations, it was a surprise to many that the
interest rate sensitive utility sector performed so well (us included). The worst performing sectors for the
second year running were energy and telecom down -9.99% and -1.91% respectively. It's rare to see such a
vast difference between the best and worst performing group, which was an astounding difference of 34%.
Global diversification did nothing to help portfolios in 2014 (the third year running) as the U.S. market was one
of the few around the globe that performed well. The international stock index EAFE lost -4.22%.
The market made it another year without a 10% correction. It now stands at 1,195 calendar days without a
double digit correction which according to BTN research is the 4th longest stretch in the last 50 years. The
biggest surprise of 2014 was the rapid and steep decline in the price of oil. Crude ended 2013 at $98.42 a
barrel, rose to a 2014 closing high of $107.26 on June 201h and the fell dramatically over the last six months of
the year to finish 2014 at $53.27 which is a decline of -50% from the peak and -46% from a year ago. Crude
continued its decline after the first of the year and trades at $49bbl currently. Another unexpected gift was the
rising dollar. The greenback recently hit a 9 year high with the euro exchange rate ending the year at $1.21 per
euro, so if you've been thinking about a European vacation, 2015 might be a good year to pull the trigger (for
reference: in 2008 it cost $1.58 to buy a euro). A stronger dollar can be a double -edge sword, since it increases
the cost of our exports to overseas buyers but with the U.S. economy being predominately consumer based, the
strengthening dollar should be a net positive.
Garrison Financial
605 W. Dickson Street, Suite 201 • Fayetteville, Arkansas 72701
479-587-1045 • 888-442-7637. 479-587-1257 Facsimile • www.GarrisonFinancial.com
Owi, GARRISON
On the fixed income front, everyone thought interest rates would go up in 2014; they didn't. In October as
Quantitative Easing finally ended, everyone thought the market would be in disarray; it wasn't. Throughout
2014 everyone thought volatility would continue; it did.
The ten year Treasury began the year yielding 3.03%, declined (bond prices up) steadily but choppily through
the end of August to around 2.35%, spiked back to over 2.60% in the first two weeks of September, back down
to a 2.16% four weeks later, and after some more roller -coaster action finished the year at 2.17%. Rates were
down 86 basis points on the year. This brings the total return for the Barclay's Intermediate Government/Credit
Index to +.89% for the fourth quarter and to +3.13% for all of 2014.
With 2014 now in the record books, it's time to look forward to 2015. It appears the U.S. will again be the
bright spot in the global economy. Consumer spending (which accounts for about 68% of GDP) should remain
healthy thanks in part to lower energy prices and a strong dollar. Capital spending (excluding the energy sector)
should pick up in 2015 as capacity utilization recently ticked up over the critical 80% level and the average age
of fixed assets is at its highest level in over 50 years. U.S. unemployment continues in the right direction,
currently standing at 5.8%. The European Union and Japan continue to struggle with low growth and China's
breakneck growth is cooling.
Decisions by the Fed will be something that could cause fits and starts in the asset markets this year, but taking
a look at history suggests equity markets have done well around initial rate hikes. Fixed income markets will
likely not fare as well. Consensus seems to be the first Fed move higher will come in the fall, but that will
certainly be dependent on how the economy plays out. One thing for certain is there will be a number of
surprises in 2015 just as we had several in 2014, 2013, etc. Our focus remains on selecting stocks and bonds of
resilient companies that will perform over a long-term market cycle.
We appreciate your confidence in us and wish you a happy and prosperous 2015. Please call the office if you
should have any questions.
Cordially,
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 • www.GarrisonFinancial.com
RECENED
JAN 492015
A RRISON
F I N A N C I A L
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
Quarter Ending December 31, 2014
Garrison Financial
PORTFOLIO SUMMARY
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
63.9%
December 31, 2014
5.6%
Cash & Equivalents 238,956.82
' Account Fixed Income 1,309,685.18
Account Equities 2,735,439.44
Garrison Financial
PORTFOLIO
APPRAISAL
City of Fayetteville
Firemen's Pension
& Relief Fund
Charles Schwab #7851-1206
December
31, 2014
Adj Unit
Total Adjusted
Market
Pct.
Unit
Annual
Quantity
Security
Cost
Cost
Price
Value
Assets
Income
Income
Yield
CASH AND EQUIVALENTS
Schwab Advisor Cash Res -
238,956,82
238,956.82
5.6
0.010
23,90
0.0
Premier
238,956,82
238,956,82
5.6
23.90
0.0
TREASURY NOTE
200,000
US Treasury Note
100.75
201,493.37
109.62
219,250.00
5.1
4.I}60
8,000,00
1,3
4.000% Due 08-15-18
Accrued Interest
3,000.00
0.1
201,493,37
222,250.00
5.2
8,000.00
L3
CORPORATE BONDS
50;000
IBM Corp.
100.01
50,002,82
131.88
65,940,50
L5
T000
3,500.00
3.5
7.000% Due 10-30-25
Accrued Interest
583.33
0.0
50,002.82
66,523,83
1.6
3,500.00
3.5
COMMON STOCK
1,710
AT&T, Inc.
24.39
41,702,95
33.59
57,438.90
1.3
1.880
3,214.80
5.6
1,575
AbbVie, Inc,
24.35
38,357.14
65,44
103,068.00
2.4
1.960
3,087.00
3.0
1,575
Abbott Laboratories
22.46
35,371.29
45,02
70,906.50
1,7
Q960
1,512.00
2,1
1,000
American Electric
33.69
33,687.39
60.72
60,720.00
1.4
2,120
2,120.00
3.5
Power
2,300
BCE, Inc. Cl F
24,40
56,110,11
45.86
105,478.00
2.5
2.520
5,796,00
5.5
700
Chevron Corporation
73.07
51,150.83
112.18
78,526.00
L8
4.280
2,996.00
3.8
3,000
Cisco Systems, Inc.
17,43
52,302,90
27.81
83,445.00
1,9
0.760
2,280,00
2.7
2,200
Coca-Cola Company
26.40
58,074,28
42.22
92,884.00
2.2
1.220
2,684.00
2.9
1,200
ConocoPhillips
44.94
53,930.85
69.06
82,872.00
1,9
2.920
3,504,00
4.2
833
Duke Energy Corp.
57.48
47,880.86
83,54
69,588,78
1,6
3.180
2,648.94
3.8
750
Emerson Electric
38,01
28,509.22
61.73
46,297,50
1.1
1.880
1,410,00
3.0
3,000
General Electric Co.
15,96
47,883,00
25,27
75,810,00
1.8
0.920
2,760.00
3.6
900
Genuine Parts Co.
36.65
32,986.53
106,57
95,913.00
2.2
2.300
2,070.00
2.2
1,500
GlaxoSmithKline Plc.
38.47
57,702.15
42.74
64,110.00
1,5
2,650
3,975.00
6.2
106
Halyard Health, Inc.
20.19
2,139.84
45,47
4,819.82
0,1
0.000
0,00
0,0
3,725
Intel Corp,
17.61
65,581.48
36.29
135,180.25
3.2
0.960
3,576.00
2,6
815
Johnson & Johnson
60.77
49,527,39
104,57
85,224,55
2.0
2.800
2,282,00
2,7
850
Kimberly Clark Corp.
58,18
49,454.69
115.54
98,209,00
2.3
3.360
2,856.00
2,9
1,300
Microsoft Corp.
26,30
34,185.86
46,45
60,385.00
1.4
L240
1,612,00
17
1,520
Pfizer, Inc.
16.52
25,116.11
31.15
47,348,00
1,1
1,120
1,702.40
3.6
1,000
Procter & Gamble Co,
5046
50,458.56
91.09
91,090,00
2,1
2.570
2,570.00
18
700
Wal-Mart Stores, Inc.
50,36
35,248.98
85.88
60,116,00
1.4
1.920
1,344,00
2.2
947,362.43
1,669,430,30
39.0
56,000.14
3,4
MUTUAL FUNDS
1,296.008
Columbia Acorn Intl Z
38.58
50,00000
41,73
54,082,41
1.3
0.680
881,29
1.6
14,455.268
Fed Interco Corp Bond
9,69
140,000.00
9.50
137,325,05
12
0.360
5,203.90
3.8
7,651 109
Natixis Loomis Sayles
13.07
100,000.00
13.04
99,770,46
.23
0.420
3,213.47
3.2
Bond Fund
3,600.360
PIMCO Total Return Cl
11,11
40,000.00
10.66
38,379.84
0.9
0.210
756.08
2.0
D
4,683.407
SteelPath MLP Income
10,68
50,000.00
1064
49,831,45
1.2
0.780
3,653.06
73
4,558.369
Vanguard Developed
10,97
50,000.00
12.17
55,475,35
1.3
0,410
1,868.93
3.4
Markets
1,387.374
Vanguard Emerging
36.04
50,000.00
33.25
46,130,19
Ll
0.950
1,318.01
2.9
Mkts Stk Index
2,615.123
Vanguard Hi -Div Yld
19,12
50,000,00
2722
71,183,65
1.7
0,740
1,935,19
23
TOTAL PORTFOLIO
Yield
08
1.7
1.0
1.8
2.3
3.2
2.0
3.0
34
3.1
3,168,706.08 4,284,081.43 100.0 123,426.78 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
December 31, 2014
Adj Unit
Total Adjusted
Market
Pct.
Unit
Annual
Quantity
Security
Cost
Cost Price
Value
Assets
Income
Income
3,412.116
Vanguard Mid -Cap
29.31
100,000.00 43.72
149,177 71
3.5
0.350
1,194.24
Growth
3,410.952
Vanguard Mid -Cap
29.32
100,000.00 46.30
157,927.08
3.7
0 770
2,62643
Value
3,290.816
Vanguard Small -Cap
30.39
100,000.00 44.26
145,651.52
3.4
0.450
1,48087
Growth
3,324 742
Vanguard Small -Cap
30,08
100,000.00 45.42
151,009.78
3.5
0 800
2,659.79
Value
930,000.00
1,155,944.48
27.0
26,791.24
UNIT TRUSTS
2,500
Sector SPDR Utility
31.96
79,899.25 47.22
118,050.00
28
1.510
3,77500
Select Shs
1,400
iShares Barclays 7-10
104.43
146,198.70 105.99
148,386.00
3.5
2.170
3,038.00
yr Treasury
850
iShares DJ Select Div
47.39
40,285.75 79.40
67,490.00
1.6
2.410
2,048.50
5,000
iShares IBOXX Inv
106.90
534,506.93 119.41
597,050.00
13.9
4.050
20,250.00
Grade Corp Bond
800,890.63
930,976.00
21.7
29,111.50
TOTAL PORTFOLIO
Yield
08
1.7
1.0
1.8
2.3
3.2
2.0
3.0
34
3.1
3,168,706.08 4,284,081.43 100.0 123,426.78 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 12-31-14
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
05-06-14
05-09-14
1,000 American Electric Power
52.96
52,960.88
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 G1axoSmithKline Plc.
51.69
25,846.60
11-03-14
11-03-14
0 Halyard Health, Inc.
36.64
9.16
11-11-14
11-14-14
450 IBM Corporation
163.45
73,552.72
05-06-14
05-09-14
300 Johnson & Johnson
99.64
29,891.69
05-06-14
05-09-14
100 Microsoft Corp.
39.04
3,903.77
05-06-14
05-09-14
1,300 Microsoft Corp.
39.03
50,743.87
02-05-14
02-10-14
1,000 Pfizer, Inc.
30.66
30,663.52
05-06-14
05-09-14
1,600 Pfizer, Inc.
29.48
47,175.61
03-21-14
03-24-14
200,000 US Treasury Note
110.65
221,305.62
4.000% Due 08-15-18
05-06-14
05-09-14
500 Wal-Mart Stores, Inc.
78.13
39,065.25
05-06-14
05-09-14
200 Wal-Mart Stores, Inc.
78.13
15,625.29
631,226.62
Garrison Financial
REALIZED GAINS AND LOSSES
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
From 01-01-14 Through 12-31-14
Gain Or Loss
Open
Close
Cost
Amort. or
Date
Date
Quantity Security
Basis
Accretion
Proceeds
Short Term
Long Term
12-31-05
02-05-14
1,000 General Electric Co.
15,961.00
24,533.62
8,57262
12-31-05
02-05-14
250 Emerson Electric
9,50307
15,949.02
6,445.94
12-31-05
02-05-14
1,000 Pfizer, Inc
16,523.76
30,663.52
14,139.76
12-31-05
02-05-14
500 GlaxoSmithKline Plc
19,234 05
25,846.60
6,612.55
12-31-05
03-21-14
200,000 US Treasury Note
204,437.50
-2,646.83
221,305.62
19,514.95
4 000% Due 08-15-18
12-31-05
05-06-14
1,000 American Electric Power
33,687.39
52,960 88
19,273 48
12-31-05
05-06-14
100 Microsoft Corp.
2,629.68
3,903.77
1,274.09
12-31-05
05-06-14
1,300 Microsoft Corp.
34,185.86
50,743.87
16,558.01
12-31-05
05-06-14
300 Johnson & Johnson
18,230.94
29,891.69
11,660 75
12-31-05
05-06-14
1,600 Pfizer, Inc.
26,438.01
47,175.61
20,737.60
12-31-05
05-06-14
500 Wal-Mart Stores, Inc
25,177.85
39,065.25
13,887.40
12-31-05
05-06-14
200 Wal-Mart Stores, Inc
10,071.14
15,625.29
5,554.15
12-31-05
11-03-14
0 Halyard Health, Inc.
5.05
9.16
4.11
12-31-05
11-11-14
450 IBM Corporation
55,091.76
73,552.72
18,460 96
TOTAL GAINS
000
162,696.39
TOTAL LOSSES
000
0.00
471,177 06
-2,646.83
631,226 62
0,00
162,696.39
TOTAL REALIZED GAIN/LOSS
162,696.39
CAPITAL
GAIN DISTRIBUTIONS
06-04-14
Columbia Acorn Intl Z
664.37
12-03-14
Fed Interm Corp Bond
6.09
12-03-14
Fed Interm Corp Bond
169.85
12-09-14
Columbia Acorn Intl Z
2,333 88
12-10-14
PIMCO Total Return Cl D
302.83
12-16-14
Natixis Loomis Sayles Bond
356.54
Fund
12-16-14
Natixis Loomis Sayles Bond
24560
Fund
TOTAL DISTRIBUTIONS 4,079.16
362.63
3,716.53
362.63
166,412.92
TOTAL GAIN/LOSS
166,775.55
Garrison Financial
PERFORMANCE SUMMARY
GROSS OF FEES
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
December 31, 2014
PORTFOLIO COMPOSITION
Total
Account
40% Fixed Income/60%
Equity Blended Index
Account Fixed Income
Barclays Capital Intermed
Govt/Credit
Account Equities
S&P 500
4,284,081.43 100.0 2.7
CHANGE IN PORTFOLIO
Portfolio Value on 12-31-13
Market
Pct.
6,583.33
Net Additions/Withdrawals
Value
Assets
Yield
Cash & Equivalents
238,956.82
5.6
0.0
Account Fixed
1,309,685.18
30.6
2.9
Income
3,583.33
4.69
4,284,081.43
Account Equities
2,735,439.44
63.9
2.9
Account
0.00
0.0
-
Commodities
Total
Account
40% Fixed Income/60%
Equity Blended Index
Account Fixed Income
Barclays Capital Intermed
Govt/Credit
Account Equities
S&P 500
4,284,081.43 100.0 2.7
CHANGE IN PORTFOLIO
Portfolio Value on 12-31-13
4,521,868.03
Accrued Interest
6,583.33
Net Additions/Withdrawals
-624,398.25
Realized Gains
-8,516.93
Unrealized Gains
257,036.22
Income Received
136,402.48
Change in Accrued Interest
-3,000.00
Portfolio Value on 12-31-14
4,280,498.10
Accrued Interest
3,583.33
4.69
4,284,081.43
TIME WEIGHTED RETURN
Annualized
Quarter
Last 12
Inception
To Date
Months
To Date
3.52
9.35
10.36
3.31
9.43
12.05
1.61
6.56
2.91
0.89
3.13
1.73
4.69
11.48
15.35
4.93
13.69
19.26
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.
00*1'
GARRISON
F I N A N C I A L
January 7, 2015
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 October 1 through December 31, 2014
Portfolio Value as of 09-30-14 4,296,448
Portfolio Value as of 10-31-14 4,272,655
Portfolio Value as of 11-30-14 4,299,565
Portfolio Value as of 12-31-14 4,284,081
Average of 4 Months 4,288,188
4,288,188 @ 0.5000% per annum 5,360
Quarterly Management Fee 5,360
TOTAL DUE AND PAYABLE 5,360
This statement is for informational purposes only. As you requested, the fee will be automatically
deducted from your account. Please be advised that it is the responsibility of the client to verify the
accuracy of each fee calculation. The custodian will not determine whether the fee is properly calculated.
Lioneld Jordan Chairman
Sondra E. Smith Secretary
Roy Cate Position 1 Retired
Firemen's Pension and Relief Fund
Board of Trustees Meeting Agenda
July 31, 2014
Special Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
July 31, 2014
Page l of 7
Pete Reagan Position 2 Retired
Dennis Mullens Position 3 Retired
Ron Wood Position 4 Retired
A meeting of the Fayetteville Firemen's Pension and Relief Fund Board of Trustees was held at
3:00 p.m. on July 31, 2014 in Room 326 of the City Administration Building.
Mayor Jordan called the meeting to order.
Present: Roy Cate, Pete Reagan, Mayor Jordan, Dennis Mullens, Sondra Smith, City Clerk,
Kit Williams, City Attorney, Dee McCoy, City Clerk office, Trish Leach, Accounting, Glenn
Atkins and Kerry Watkins -Bradley of Garrison Financial.
Absent: Ron Wood
Garrison Financial:
Monthly Report:
Kerry Bradley: Thanks for allowing us to come. Good news again to report, outside of today;
today the markets are not behaving very well. Second quarter was good. We are really close to
policy, which we have a 60% equity 40% fixed income policy. We are very close to that. We are
a little over allocated equity because equities have performed so well. Year to date through June,
the account is up 6.39%. We started the year at about $4.52 million. At the end of June we were at
$4.347 million and about $444,000 has been withdrawn. We are down a little less than $200,000
but we've taken out $444,000 in withdrawals for pensioners. Equities were strong. Equities were
up about 7.68% for the six months, for the quarter we were up 5%. July had been a good month
up until the 24th or 25th, then we started to see a little bit of pull back there. We are back down to
even. Today the markets are getting hit pretty hard from some news in Argentina and some
earnings that have not been stellar. I think the market is off about 1.5% so the portfolio may be
down another .5% after the close today. I ran performance through yesterday and the account was
still up 5.79% through yesterday. All in all a very strong market. The fixed income market is
behaving, equity markets are behaving. We have gone almost three years without a 10% correction
in the equity market. Given that, we don't get too worried if we see a little sell off. I think it would
be healthy for the market's longer term. We had some good economic news yesterday, second
quarter GDP came up 4%. I don't necessarily think that the third quarter will be that strong. We
had a lot of pent up demand from the first quarter from all the bad weather we had across the US.
If we can hit anywhere between 3% to 4% that's really good for the equity market, and it'll be
good for interest rates over the next few years.
The economy is still on track and improving in spite of the very weak first quarter we had. We
have raised some capital in this quarter to fund distributions and we do that by selling off the equity
Special 1,iremen's Pension and Relief Fund
Board of'frustees Meeting Minutes
July 31, 2014
Page 2 of 7
side. With this portfolio being under the $5 million mark and we can't buy individual stocks, we've
been peeling off some of the stocks and there will be a point in time when the portfolio is reduced
enough that we will need to probably sell all of those stocks and put it in mutual funds. For now,
we are still holding several of the stocks that Ms. Longer purchased, very good, blue chip, solid
companies that we're still comfortable holding. We still have a mix of mutual funds and individual
names in here even though we technically can't buy anymore. As far as the stock side goes, we are
very comfortable. Valuations have moved up a little bit given the run in the equity market. A 4%
GDP growth that is good for the stock market and bond market. I don't think the market is that
over -valued, we're right on target to a little bit overweight on equities and we're still very
comfortable there.
Glenn Atkins: I'll echo what Kerry said and thank you for having us. We appreciate your business
and your confidence in us. Through June the bond portion of your portfolio was up 4.89% versus
the index up 2.25%. Through yesterday year to date, bonds were up 4.73% in your portfolio and
the index was up 2.02%. The quarter from the fixed income side can be best described as steady
as she goes. There was no activity really. We think we are in a very well position, the portfolio is
performing quite well. The duration or average maturity on the bond portion of your portfolio is a
little over six years. It's long to the index but I think given the situation that we're in that's the
right place to be. We're good with where we are and the securities and funds that we have in there
are performing quite well. As always, this is the chart of the ten year treasury yield that we use as
the proxy for the market. For the last year through today you can see rates are still very near all-
time lows. There continues to be a lot of volatility. For some other clients that are different than
you, I've been shortening maturities a little bit but I don't think it's prudent to do that here. We
need as much income as we can get and we take a little bit of price volatility along the way. The
normal package of the little Monte Carlo for the record, hasn't really changed. You guys can look
through that at your leisure. Our bias is still for rates to be up over the next 18 to 36 months. If that
happens quickly, we'll see some hits to the market value of the portfolio. If we were to shorten it
up now we wouldn't be getting a whole lot of yield. I think we are good right where we are.
Kerry Bradley: The fixed income, we're a little bit light to policy because we are about 6% cash
in the portfolio. We have some distributions coming up in the next few months, we have two to
three months' worth of distributions sitting in cash. We are a little over allocated on the equity
side. We only have about 30% in fixed income right now so we are a little bit light to policy. I
don't know if the stuff you sent me this morning Trish is going to be mentioned but certainly we
can help with all this. It's some new accounting standards Trish sent us.
Trish Leach: There's some new reporting standards that GASB is implementing. Marsha has been
pulling together some of the information so I sent it to Kerry. There's some things that Garrison
being your investment broker, will help us with. The report you are mostly concerned with is what
goes to PRB, so that doesn't change.
Kerry Bradley: We can certainly help gather the information and give that back to you monthly
or quarterly, however you need it. They mentioned a money weighted return which I'm not familiar
with. They said it is different than our time weighted return that we are required to report. We will
get up to date on that.
Trish Leach: If you want to have a meeting, we can talk about it.
Special Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
July 31, 2014
Page 3 of 7
Glenn Atkins: There's also a mention in there of using longer term expected returns and that
managers typically use shorter expected returns. We can certainly get the long term data, in terms
of how the markets performed historically and what it might be going forward. We can provide
pretty much everything that's in this expect for the actuarial number crunching aspect of it.
Approval of the Minutes:
Approval of the April 24. 21114 meeting minutes and the ,lune 2, 2014 sliecial tlieetine
minutes
Roy Cate moved to approve the April 24, 2014 meeting minutes. Dennis Mullens seconded
the motion. Upon roll call the motion passed 5-0. Ron Wood was absent.
Pete Reagan moved to approve the June 2, 2014 special meeting minutes. Roy Cate seconded
the motion. Upon roll call the motion passed 5-0. Ron Wood was absent.
Pension List Changes:
Joseph Fraley deceased May 5 2014. Hiss ouse Lora Dean li ralev will receive his benefit
beginning June, 2014.
James E. Harris deceased May 16, 2014. Sponse not eligible to receive benefit.
Melva June Harris deceased June 18, 2014 (James Harris widow).
Sondra Smith: Mr. Fraley passed away and Lora Dean his spouse will receive his benefit.
Mr. Harris, which was a volunteer passed away. His spouse wasn't eligible and within a month
she passed away also.
You've lost three from the pension plan but one of the pension benefits went to the spouse. We
double check everything with the City Attorney's office when someone deceases to make sure the
spouse is eligible. That's the reason we ask for a marriage license to make sure they are eligible
according to the current state law.
Pete Reagan: Dean Harris' wife was not eligible, is that what you said?
Sondra Smith: Melva Harris was not eligible.
Pete Reagan: Melva was Dean Harris' wife?
Sondra Smith: Yes. We had the City Attorney's office check the state law. We involved Trish in
the conversation between the Assistant City Attorney and myself. They deemed her ineligible to
draw because of the time frame they were married or the length of time they'd been married. I
think it was the time frame they married.
Special Firemen's Pension and RclierFund
Board orTruslees Meeting Minutes
July 3l, 2014
Page 4 of 7
Kit Williams: We do not have a benefit that has been approved, to allow a marriage after
retirement to receive spousal benefits.
Sondra Smith: You have to be actuarially sound to allow that anyway and we are not sound.
Kit Williams: We just have to follow the law.
Sondra Smith: I wanted to give you the list of changes before we approve the pension lists. That's
the reason we are having to re -approve the June and July pension lists because you had already
approved those. The second approval will be for the August, September and October pension lists.
Approval of the Pension List:
Re -approval of the June and July, 2014 pension lists:
Pete Reagan moved to re -approve the June and July, 2014 pension lists. Roy Cate seconded
the motion. Upon roll call the motion passed 5-0. Ron Wood was absent.
Approval of the August, September and October, 2014 pension lists:
Roy Cate moved to approve the August, September and October, 2014 pension lists. Pete
Reagan seconded the motion. Upon roll call the motion passed 5-0. Ron Wood was absent.
New Business:
Revenue and Expense Report 06/30/14:
Sondra Smith: The Revenue and Expense report is a quarterly report that is completed by the
Accounting. It's just an informational item. It tells you where your plan is.
Turn back funds:
Sondra Smith: The turn back money are funds that you receive from the state. We received
$578,771.66 that is for the LOPFI plan. The old plan received $182,589.75. The additional
allocation that started in 2012, this year was $48,691 which was a little bit more than last year.
Then your supplement was $56,563. A copy of those checks are attached. The Pension Review
Board (PRB) tells us how to allocate that money, so if you were a regular retiree you received
$1,235 in additional funds on your check. If you were a volunteer you received $247 additional
funds on your check.
Pete Reagan: That's out of the future supplement?
Trish Leach: Yes. That money was on your July checks.
Sondra Smith: The spreadsheet shows the historical data of how much you've received in the
past.
Special Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
July 31, 2014
Page 5 of
Pete Reagan: So the $182,589.75 and the $48,691, is that kept locally or does that go to Garrison
Financial?
Trish Leach: The way it works, when it came in we used that money to pay benefits. If there's
any leftover it would either go to Garrison or we keep it and the next month and use it for benefits.
Kerry and I talk each month and if we've got money in the bank account we just use that instead
of getting money from Garrison.
Pete Reagan: Kerry said she had $400,000 in cash?
Trish Leach: Yes.
Pete Reagan: Was this part of the $400,000?
Trish Leach: I don't think we sent anything to her. The last two months I told her we are getting
money from the state so we are okay.
Pension Review Board Evaluating Local Plan Investments Memo:
Sondra Smith: We receive that letter every year. The Pension Review Board (PRB) wants you to
look at your plan. There's not really much we can do with our plan. A copy of the letter is in your
agenda. They want you to make sure you are following state law. It's just for you to look at and
make sure you're aware of how you're plan is supposed to be structured.
Pete Reagan: Can I back up just a minute? How much went to full paid and how much went to
retirees on the supplemental?
Sondra Smith: $247 was the volunteers and $1,235 was the plan participants.
City Attorney letter regarding Ms. Jenkins:
Sondra Smith: We've received numerous correspondence from Ms. Jenkins about if she can
marry and if she marries if she'll lose her benefits.
Kit Williams: Her benefits are controlled by her QDRO, her Qualified Domestic Relations Order.
She has no independent benefits from the pension because she was divorced from Mr. Jenkins.
Therefore, she is not entitled to any pension rights from him. However, state law will say that in a
divorce the wife is entitled to half of the person's pension rights, as long as the pensioner is alive
and drawing benefits half the pension benefits, according to the QDRO if it meets all the QDRO
requirements, will go to the wife. She asks whether she would lose those benefits if she gets
married. That's an issue that has nothing to do with us, it has to do with how the Qualified
Domestic Relations Order was drafted and what it says.
I would imagine she won't lose any benefits but she's not my client. The City is my client, you all
are my client. She's not my client so I don't feel like it's proper for me to give her legal advice,
especially when she had a lawyer that did the divorce for her and did the QDRO. If she has
questions about how the Qualified Domestic Relations Order acts then she needs to ask the lawyer
Special Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
July 31, 2014
Page 6 of 7
that represented her and drew up the order. That's what I've told her. I've said your pension
benefits are totally dependent on two things, whether your ex-husband is still alive and drawing
benefits because once he deceases she gets nothing. I had a case where Judge Smith agreed with
me that the law was crystal clear and they couldn't get any benefits no matter what their QDRO
said because there was no benefits to split once the pensioner was dead. Secondly is how her
particular order of support was stated, adopted by the judge, drafted by her attorney and Mr.
Jenkins' attorney. That's not for me to say. I've told her that many times, she still wants a different
answer. I can't give her a different answer. I have not heard anything since June the 4t'.
Pete Reagan: I've got two questions for you. Did you try a case in front of Judge Smith?
Kit Williams: It was not her case. It was a similar case. It wasn't tried, I filed motions and he
granted my motion for summary judgment. We were sued and we responded and we prevailed. It
was so clear, he didn't need to have a trial.
Pete Reagan: Do you remember when that was?
Kit Williams: It was before 2007, that's when I wrote this other letter to her and cited the case. I
think it was fairly early in my time as City Attorney.
Sondra Smith: Those benefits went to the children.
Kit Williams: The children still get theirs up until a certain age.
Sondra Smith: They received them as long as they were enrolled in college.
Pete Reagan: 18 or four years in college.
Sondra Smith: 23 is the age limit.
Kit Williams: If a child would be wholly disabled, it might continue.
Sondra Smith: The benefits were split between two children until the one child became too old
and the second child received the entire amount. We had to receive information and get receipts
that showed they were in enrolled college.
Pete Reagan: The other question I have is if a judge wrote in a QDRO that a spouse would receive
that benefit for the rest of her life, then we would have to go to court because there's not a surviving
spouse?
Kit Williams: I would just say, we're not paying because the judge was wrong. If they want to
sue us to get us to pay then they can go to court. I don't think we have to go to court. The judge
did not understand the law, not that that would ever happen. The state statute is going to control
and it is crystal clear. My instructions to our Accounting Department would be we can't pay, I
don't care what that QDRO says. I don't think we would have to go to court, I feel like it's just too
clear.
Pete Reagan: I agree and that's why I wanted it in the record.
Special Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
July 31, 2014
Page 7 of 7
Sondra Smith: Our office and Kit's office does a lot of research when we have an issue like that
to make sure we're following state law.
Kit Williams: And when it comes up again I look back and make sure they have not changed the
law. They have not changed the law since I tried that case.
Election results: Pete Reagan and Roy Cate have been re-elected
Informational:
2014 meeting schedule. A copy was included in the packet.
Adjourn Time: 3:30 p.m.
OFFICE OF THE CITY CLERK TREASURER
Sondra E. Smith - City Clerk Treasurer
Lisa Branson - Deputy City Clerk
January 26, 2015
Estate of Arnold Christie
920 S. Hill
Fayetteville, AR 72701
113 W. Mountain Street, Suite 308
Fayetteville, AR 72701
RE: Firemen's Pension & Relief Fund
Dear Family,
Phone 479.575.8323
cityclerk@fayetteviUe-ar.gov
I am very sorry to hear about the loss of your dad. We do not prorate benefits during the month
the pensioner deceased therefore the pension benefit should have ceased October, 2014.
Please send a copy of Mr. Christie's death certificate to:
City of Fayetteville
City Clerk Treasurer
113 West Mountain
Fayetteville, AR 72701
If you have any questions you may contact my office at 575-8323. I will keep you in my thoughts
and prayers.
Sincerely,,
4,11-v f - 4tk
Sondra E. Smith
Secretary
Firemen's Pension and Relief Fund Board of Trustees
In Memory of Arnold Ripley Christie -- Moores Chapel, Fayetteville, AR
FACTS
Born: January 4, 1918
Death: September 19, 2014
GUESTBOOK
Share your thoughts and memories in the
guestbook.
Sign the guestbook
Read the guestbook
ARNOLD RIPLEY CHRISTIE
January 4, 1918 - September 19, 2014
Send Rowers I Send Card
BIOGRAPHY
Page 1 of 2
Arnold Ripley Christie, a longtime Fayetteville resident, passed
away on September 19, 2014 at Circle of Life Hospice in
Springdale, Arkansas. Mr. Christie was born on January 4, 1918 in
De Ridder, Louisiana to Charles Guy Christie and Emma Christina
Gerken Christie. Arnold had seven siblings that included Ethyl
Blanche, Clara Marie, Orson Henry, Dolly Mae, Mabel Kathryn,
Leslie Guy, and Frances Myrtle. The family resided in Fayetteville
since relocating here when Arnold was a child.
On November 5, 1942 Arnold married Margaret Ruth Collier of
Prairie Grove in Providence, RI. She preceded him in death in 2010
after 67 years as husband and wife.
Arnold worked his entire career for Arkansas Western Gas
Company, now Source Gas, where he worked his way up from a
serviceman riding a bicycle to become Fayetteville Town Plant
Manager. He served on the Fayetteville City Council, serving a
term as Mayor, was City Street Commissioner, was a Registered
Master Plumber, a member of Rotary International, and a longtime
member of Central United Methodist Church in Fayetteville.
During World War II, he was among the first to enlist in the Navy
Seabees, training in Rhode Island and doing wartime construction
work in Bermuda and Iwo Jima. He was on Iwo "from the first shot
until the end of the war." Arnold was an avid gardener, as can be
attested by many friends who received his bountiful annual
vegetable harvest. In addition to his family and friends, he will
also be missed by the thousands of birds that annually visited his
feeders.
Arnold is survived by one sister, Francis Myrtle "Mutt" Christie of
Fayetteville, AR, along with several nieces and nephews.
Mr. Christie is also survived by his son, David Arnold Ch-istie, and
wife Jill Annette Giles Christie of Fayetteville, GA, with
---http:l/www.mooresfuneralchapei-com/sitemaker/memsol.egi?user- id=1414036 12/4-1/201
In Memory of Arnold Ripley Christie -- Moores Chapel, Fayetteville, AR Page 2 of 2
granddaughter Jennifer Dianne and husband Kevin Siemens of
Clemson, SC and great-grandchildren Katherine "Kate' Christie,
Anna Elizabeth, and Olivia Jane, by grandson Wesley Ryan and
wife Amber Lane Williams Christie of Bessemer, AL, with
grandchildren Miles Ryan and Ella Lane, and by granddaughter
Laura Michelle Christie Johnson and husband Josh Johnson of
Rincon, GA with great-grandchildren Jacob Taylor and Austin
Anderson. He is also survived by his daughter, Cynthia Ann
Christie, and husband Michael David Peven of Fayetteville, AR,
with grandchildren Joseph "Joey" Russell of Chicago, IL and
Jonathan "Jon" Arnold of Fayetteville, AR. He is also survived by
his son, Richard Peter Christie, and wife Patricia "Patsy' Diane
Roughton Christie of Springdale, AR with grandchildren Melissa
Lynn Christie Lindeman and husband Jonathon Lindeman of
Springdale, AR and Kimberley Michelle Christie of Wilmington, NC.
Visitation will be 4:00 p.m. - 7:00 p.m., Monday, September 22,
2014 at Moore's Chapel.
Funeral service will be 2:00 p.m., Tuesday at Central United
Methodist Church in Fayetteville followed by burial in the family
plot at Son's Chapel Cemetery in Fayetteville, Washington County,
Arkansas, under the direction of Moore's Chapel.
In lieu of flowers, memorials may be made to Regional National
Cemetery Improvement Corporation, P.O. Box 4221, Fayetteville,
AR 72701 or Son's Chapel Cemetery Maintenance Fund, 4912 E.
Sandi Dr., Fayetteville, AR 72703 or Circle of Life Hospice, 901
Jones Rd., Springdale, AR 72762
Memorial NetworksTM Partner Provider: Batesville Interactive, All rights reserved. I Funeral Home Website by Batesville, Inc.
PRIVACY I TERMS OF USE
-- http://www:mooresfuneralchapel-eom/sitemaicer/memsohcgi?user- -id=141403,612/-1-1/-2014
FIREMEN'S RELIEF AND PENSION
October 10 10
2014 8 10
5 10
THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH 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 Dale
Benefit Reg Benefit
2,618.55 26,185.50
1,802.08 18,020.80
109.27 1,092.70
2,988.76 29,887.60
2,477.42 24,774.20
2,089.28 20,892.80
1,647.63 16,476.30
1,788.90 17,889.00
0.00 983.43
5,376.91 53,769.10
731.61 7,316.10
998.66 9,988.60
4,155.36 41,553.60
0.00 8,840.60
1,768.12 8,840.60
3,816.75 38,167.50
141.37 1,413.70
2,596.69 25,966.90
0.00 54635
109.27 1,092.70
1,788.75 17,887.50
1,788.76 17,887.60
3,07347 30,734.70
0.00 4,549.90
2,274.95 18,199.60
1,647.63 16,476.30
1,522.37 15,223 70
1,711.21 17,112.10
3,77580 37,758.00
1,647.63 16,476 30
2,868.28 28,682.80
4,077.28 40,772.80
1,631 25 16,312.50
1,753.74 17,537.40
109.27 1,092.70
1,33451 13,345.10
1,304.07 13,040.70
3,18002 31,800.20
170.60 1,706.00
109.27 1,092.70
125.66 1,256.60
2,191.30 21,913.00
3,518.28 35,182.80
4,120.99 41,209.90
1,899.66 18,996 60
2,765.09 27,650.90
3,647.18 36,471.80
2,346.70 23,467.00
3,535.71 35,357.10
109.27 1,092.70
1,524.99 15,249.90
3,647.18 36,471.80
806.19 8,061.90
767.80 7,678.00
3,668.10 36,681.00
136.59 1,365.90
2,502.72 25,027.20
3,077.15 30,771.50
1,691.34 16,913.40
113,067.59 1.132 205.68
2/19/2015 K:\Fire Pension\Pension List\Pension List 2014\FP 100114 Revised WM
DATE OF
EMP# RETIREMENT
NAME
177
4/04
BACHMAN, EDDIE
74
3/86
BAIRD, JULIA
63
5/72
BOLAIN, ANN
68
7/99
BONADUCE, MICHAEL
44
9/86
BOUDREY, BETTY MRS.
45
9/86
BOUDREY, HOWARD
49
7/88
BOUDREY, JACK
57
5/90
LATE, ROY
6
4/68
CHRISTIE, ARNOLD
188
12/05
DOSS, MARION H
188
12/05
DOSS, MARION H plus 25 additional pay
11
2/76
FARRAR,ALONZO
192
4/06
FARRAR, DANNY
38
5/84
FRALEY, JOSEPH G
220
5/84
FRALEY, LORA D.
170
5/03
FREEDLE, LARRY
170
5/03
FREEDLE, LARRY plus 25 additional pay
92
03/02
GAGE,TOMMY
34
6/79
HARRIS, JAMES E. deceased 5/16
70
11/99
HARRIS, MARY RUTH
182
10/04
JENKINS, EILEEN
93
06/02
JENKINS, JOHN
86
07/01
JOHNSON,ROBERT
64
4/95
JORDAN, CHARLIE deceased 2/04
219
4/95
JORDAN, SANDRA K
76
5/88
JUDY, JAN
37
3/84
KING, ARNOLD D.
54
5/89
KING, ARVIL
173
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
8/61
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
06/05
REAGAN, PETE
201
A02108
REED, JUNE
41
9/85
SCHADER, TROY
190
04/06
SHACKELFORD, GLEN
36
5/76
SPRINGSTON, CARL
90
03/02
STOUT, IMOGENE W.
165
12/02
TATE, RALPH
65
3/66
TUNE, BILLIE SUE
71
1/00
WARFORD,THOMAS
88
01/02
WOOD,RONNIE D
208
9/88
WRIGHT. Barbara
Regular Mo Year To Dale
Benefit Reg Benefit
2,618.55 26,185.50
1,802.08 18,020.80
109.27 1,092.70
2,988.76 29,887.60
2,477.42 24,774.20
2,089.28 20,892.80
1,647.63 16,476.30
1,788.90 17,889.00
0.00 983.43
5,376.91 53,769.10
731.61 7,316.10
998.66 9,988.60
4,155.36 41,553.60
0.00 8,840.60
1,768.12 8,840.60
3,816.75 38,167.50
141.37 1,413.70
2,596.69 25,966.90
0.00 54635
109.27 1,092.70
1,788.75 17,887.50
1,788.76 17,887.60
3,07347 30,734.70
0.00 4,549.90
2,274.95 18,199.60
1,647.63 16,476.30
1,522.37 15,223 70
1,711.21 17,112.10
3,77580 37,758.00
1,647.63 16,476 30
2,868.28 28,682.80
4,077.28 40,772.80
1,631 25 16,312.50
1,753.74 17,537.40
109.27 1,092.70
1,33451 13,345.10
1,304.07 13,040.70
3,18002 31,800.20
170.60 1,706.00
109.27 1,092.70
125.66 1,256.60
2,191.30 21,913.00
3,518.28 35,182.80
4,120.99 41,209.90
1,899.66 18,996 60
2,765.09 27,650.90
3,647.18 36,471.80
2,346.70 23,467.00
3,535.71 35,357.10
109.27 1,092.70
1,524.99 15,249.90
3,647.18 36,471.80
806.19 8,061.90
767.80 7,678.00
3,668.10 36,681.00
136.59 1,365.90
2,502.72 25,027.20
3,077.15 30,771.50
1,691.34 16,913.40
113,067.59 1.132 205.68
2/19/2015 K:\Fire Pension\Pension List\Pension List 2014\FP 100114 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
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
NOTARY PUBLIC
MY COMMISSION EXPIRES:
CHAIRMAN AND PRESIDENT
2/19/2015 K:\Fire Pension\Pension List\Pension List 2014\FP 100114 Revised WM
'rD
6610-9810-5335-00
0.00
1132205.68
6610-9810-5335-06
000
12635.69
Drop PayouUlntresl Checks to Drop Retirees
0.00
YTD Column
000
Difference
000
"(should be off Supplemental al
2/19/2015 K:\Fire Pension\Pension List\Pension List 2014\FP 100114 Revised WM
FIREMEN'S RELIEF AND PENSION
November 11
2014 9 11
6 11
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 28,804.05
1,802.08 19,822.88
109.27 1,201.97
2,988.76 32,876.36
2,477.42 27,251.62
2,089.28 22,982.08
1,647.63 18,123.93
1,788.90 19,677.90
0.00 983.43
5,376.91 59,146.01
731.61 8,047.71
998.86 10,987.46
4,155.36 45,708.96
0.00 8,840.60
1,768.12 10,608.72
3,816.75 41,98425
141.37 1,555.07
2,596.69 28,563.59
0.00 546.35
109.27 1,201.97
1,788.75 19,676.25
1,788.76 19,676.36
3,073.47 33,808.17
0.00 4,549.90
2,274.95 20,474.55
1,647.63 18,123.93
1,522.37 16,746.07
1,711.21 18,823.31
3,775.80 41,533.80
1,647.63 18,123.93
2,868.28 31,551.08
4,077.28 44,850.08
1,631.25 17,943.75
1,753.74 19,291.14
109.27 1,201.97
1,334.51 14,679.61
1,304.07 14,344.77
3,180.02 34,980.22
170.60 1,876.60
109.27 1,201.97
125.66 1,38226
2,191.30 24,104 30
3,518.28 38,701.08
4,120.99 45,330 89
1,899.66 20,896.26
2,765.09 30,415.99
3,647.18 40,118.98
2,346.70 25,813.70
3,535.71 38,892.81
109.27 1,201 97
1,524.99 16,774.89
3,647.18 40,118.98
806.19 8,86809
767.80 8,445.80
3,668.10 40,349.10
136.59 1,502.49
2,502.72 27,529 92
3,077.15 33,848.65
1,691.34 18,604.74
113, 067.59 1.245.27327
2/19/2015 K:\Fire Pension\Pension List\Pension List 2014\FP 110114 Revised WM
DATE OF
EMP# RETIREMENT NAME
177
4/04
BACHMAN, EDDIE
74
3/86
BAIRD, JULIA
63
5/72
BOLAIN, ANN
68
7/99
BONADUCE, MICHAEL
44
9/86
BOUDREY, BETTY MRS.
45
9/86
BOUDREY, HOWARD
49
7/88
BOUDREY, JACK
57
5/90
LATE, ROY
6
4/68
CHRISTIE, ARNOLD deceased 9/19
188
12/05
DOSS, MARION H
188
12/05
DOSS, MARION H plus 25 additional pay
11
2/76
FARRAR,ALONZO
192
4/06
FARRAR, DANNY
38
5/84
FRALEY, JOSEPH G. deceased 5/04
220
5/84
FRALEY, LORA D.
170
5/03
FREEDLE, LARRY .
170
5/03
FREEDLE, LARRY plus 25 additional pay
92
03/02
GAGE,TOMMY
34
6/79
HARRIS, JAMES E. deceased 5/16
70
11/99
HARRIS, MARY RUTH
182
10/04
JENKINS, EILEEN
93
06/02
JENKINS, JOHN
86
07/01
JOHNSON,ROBERT
64
4/95
JORDAN, CHARLIE deceased 2/04
219
4/95
JORDAN, SANDRA K
76
5/88
JUDY, JAN
37
3/84
KING, ARNOLD D.
54
5/89
KING, ARVIL
173
12/03
LEDBETTER, DENNIS
51
10/88
LEWIS, CHARLES
40
9/85
LOGUE, PAUL D
202
02/08
MAHAN, MARSHALL
50
9/88
MASON, LARRY
39
4/85
MC ARTHUR, RONALD A.
35
2/82
MC CHRISTIAN, DWAYNE
15
4/77
MC WHORTER, CHARLES
209
8/81
MILLER, ALICE GAYLE
73
2/00
MILLER,KENNETH
73
2/00
MILLER,KENNETH plus 25 additional pay
217
2/86
MOORE, BETTY L
176
4/04
MORRIS, DIXIE E.
48
7/88
MULLENS, DENNIS W.
184
3/05
NAPIER, LONNIE
196
01/02
ONEAL, TEDDY
46
5/88
OSBURN, TROY
81
02/01
PHILLIPS,LARRY
203
02/08
PIERCE, JOEY
53
2/89
POAGE, LARRY
186
06/05
REAGAN, PETE
201
^02/08
REED, JUNE
41
9/85
SCHADER, TROY
190
04/06
SHACKELFORD, GLEN
36
5/76
SPRINGSTON, CARL
90
03/02
STOUT, IMOGENE W.
165
12/02
TATE, RALPH
65
3/66
TUNE, BILLIE SUE
71
1/00
WARFORD,THOMAS
88
01/02
WOOD,RONNIE D
208
9/88
WRIGHT. Barbara
Regular Mo Year To Date
Benefit Reg Benefit
2,618.55 28,804.05
1,802.08 19,822.88
109.27 1,201.97
2,988.76 32,876.36
2,477.42 27,251.62
2,089.28 22,982.08
1,647.63 18,123.93
1,788.90 19,677.90
0.00 983.43
5,376.91 59,146.01
731.61 8,047.71
998.86 10,987.46
4,155.36 45,708.96
0.00 8,840.60
1,768.12 10,608.72
3,816.75 41,98425
141.37 1,555.07
2,596.69 28,563.59
0.00 546.35
109.27 1,201.97
1,788.75 19,676.25
1,788.76 19,676.36
3,073.47 33,808.17
0.00 4,549.90
2,274.95 20,474.55
1,647.63 18,123.93
1,522.37 16,746.07
1,711.21 18,823.31
3,775.80 41,533.80
1,647.63 18,123.93
2,868.28 31,551.08
4,077.28 44,850.08
1,631.25 17,943.75
1,753.74 19,291.14
109.27 1,201.97
1,334.51 14,679.61
1,304.07 14,344.77
3,180.02 34,980.22
170.60 1,876.60
109.27 1,201.97
125.66 1,38226
2,191.30 24,104 30
3,518.28 38,701.08
4,120.99 45,330 89
1,899.66 20,896.26
2,765.09 30,415.99
3,647.18 40,118.98
2,346.70 25,813.70
3,535.71 38,892.81
109.27 1,201 97
1,524.99 16,774.89
3,647.18 40,118.98
806.19 8,86809
767.80 8,445.80
3,668.10 40,349.10
136.59 1,502.49
2,502.72 27,529 92
3,077.15 33,848.65
1,691.34 18,604.74
113, 067.59 1.245.27327
2/19/2015 K:\Fire Pension\Pension List\Pension List 2014\FP 110114 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
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
NOTARY PUBLIC
MY COMMISSION EXPIRES:
6810.9610-5335-00
6810-9810-5335-06
Drop PayouUlntrest Checks to Drop Retirees
YTD Column
Difference
CHAIRMAN AND PRESIDENT
YTD
0.00 1245273.27
0.00 12635.69
0.00
0.00
0.00 "(should be off Supplemental ai
2/19/2015 K:\Fire Pension\Pension List\Pension List 2014\FP 110114 Revised WM
FIREMEN'S RELIEF AND PENSION
December 12
2014 10 12
7 12
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
2,61855 31,422.60
1,802.08 21,624.96
109.27 1,311.24
2,988.76 35,865.12
2,47742 29,729.04
2,089.28 25,07136
1,647.63 19,771.56
1,788.90 21,466.80
0.00 983.43
5,376.91 64,522.92
731.61 8,77932
998.86 11,986.32
4,155.36 49,864.32
0.00 8,840.60
1,768.12 12,376.84
3,816.75 45,801.00
141.37 1,696.44
2,596.69 31,160.28
0.00 546.35
109.27 1,311.24
1,788.75 21,465.00
1,788.76 21,465.12
3,073.47 36,881.64
0.00 4,549.90
2,274.95 22,749 50
1,647.63 19,771.56
1,522.37 18, 268.44
1,711.21 20,534 52
3,775.80 45,309.60
1,647.63 19,771.56
2,868.28 34,419.36
4,077.28 48,927.36
1,631.25 19,575.00
1,753.74 21,044.88
109.27 1,311.24
1,334.51 16,014.12
1,304.07 15,648.84
3,180.02 38,160.24
170.60 2,04720
109.27 1,311.24
125.66 1,507.92
2,191 30 26,295.60
3,518.28 42,219.36
4,120.99 49,451.88
1,89966 22,795.92
2,76509 33,181.08
3,647.18 43,766.16
2,346.70 28,160.40
3,535.71 42,428.52
109.27 1,311.24
1,524.99 18,299.88
3,647.18 43,766.16
806.19 9,674.28
767.80 9,213.60
3,668.10 44,017.20
136.59 1,639.08
2,502.72 30,032.64
3,077.15 36,925.80
1,691.34 20,296.08
113,067.59 1,358,340.66
2/19/2015 K:\Fire Pension\Pension List\Pension List 2014\FP 120114 Revised WM
DATE OF
EMP# RETIREMENT
NAME
177
4/04
BACHMAN, EDDIE
74
3/86
BAIRD, JULIA
63
5/72
BOLAIN, ANN
68
7/99
BONADUCE, MICHAEL
44
9/86
BOUDREY, BETTY MRS.
45
9/86
BOUDREY, HOWARD
49
7/88
BOUDREY, JACK
57
5/90
CATE, ROY
6
4/68
CHRISTIE, ARNOLD deceased 9/19
188
12/05
DOSS, MARION H
188
12/05
DOSS, MARION H plus 25 additional pay
11
2/76
FARRAR,ALONZO
192
4/06
FARRAR, DANNY
38
5/84
FRALEY, JOSEPH G. deceased 5/04
220
5/84
FRALEY, LORA D,
170
5/03
FREEDLE, LARRY
170
5/03
FREEDLE, LARRY plus 25 additional pay
92
03/02
GAGE,TOMMY
34
6/79
HARRIS, JAMES E deceased 5/16
70
11/99
HARRIS, MARY RUTH
182
10/04
JENKINS, EILEEN
93
06/02
JENKINS, JOHN
86
07/01
JOHNSON,ROBERT
64
4/95
JORDAN, CHARLIE deceased 2/04
219
4/95
JORDAN, SANDRA K
76
5/88
JUDY, JAN
37
3/84
KING, ARNOLD D.
54
5/89
KING, ARVIL
173
12/03
LEDBETTER, DENNIS
51
10/88
LEWIS, CHARLES
40
9/85
LOGUE, PAUL D.
202
02/08
MAHAN, MARSHALL
50
9/88
MASON, LARRY
39
4/85
MC ARTHUR, RONALD A.
35
2/82
MC CHRISTIAN, DWAYNE
15
4/77
MC WHORTER, CHARLES
209
8/81
MILLER, ALICE GAYLE
73
2/00
MILLER,KENNETH
73
2/00
MILLER,KENNETH plus 25 additional pay
217
2/86
MOORE, BETTY L
176
4/04
MORRIS, DIXIE E.
48
7/88
MULLENS, DENNIS W.
184
3/05
NAPIER, LONNIE
196
01/02
ONEAL, TEDDY
46
5/88
OSBURN, TROY
81
02/01
PHILLIPS,LARRY
203
02/08
PIERCE, JOEY
53
2/89
POAGE, LARRY
186
06/05
REAGAN, PETE
201
^02/08
REED, JUNE
41
9/85
SCHADER, TROY
190
04/06
SHACKELFORD, GLEN
36
5/76
SPRINGSTON, CARL
90
03/02
STOUT, IMOGENE W
165
12/02
TATE, RALPH
65
3/66
TUNE, BILLIE SUE
71
1/00
WARFORD,THOMAS
88
01/02
WOOD,RONNIE D
208
9/88
WRIGHT, Barbara
Regular Mo Year To Date
Benefit Reg Benefit
2,61855 31,422.60
1,802.08 21,624.96
109.27 1,311.24
2,988.76 35,865.12
2,47742 29,729.04
2,089.28 25,07136
1,647.63 19,771.56
1,788.90 21,466.80
0.00 983.43
5,376.91 64,522.92
731.61 8,77932
998.86 11,986.32
4,155.36 49,864.32
0.00 8,840.60
1,768.12 12,376.84
3,816.75 45,801.00
141.37 1,696.44
2,596.69 31,160.28
0.00 546.35
109.27 1,311.24
1,788.75 21,465.00
1,788.76 21,465.12
3,073.47 36,881.64
0.00 4,549.90
2,274.95 22,749 50
1,647.63 19,771.56
1,522.37 18, 268.44
1,711.21 20,534 52
3,775.80 45,309.60
1,647.63 19,771.56
2,868.28 34,419.36
4,077.28 48,927.36
1,631.25 19,575.00
1,753.74 21,044.88
109.27 1,311.24
1,334.51 16,014.12
1,304.07 15,648.84
3,180.02 38,160.24
170.60 2,04720
109.27 1,311.24
125.66 1,507.92
2,191 30 26,295.60
3,518.28 42,219.36
4,120.99 49,451.88
1,89966 22,795.92
2,76509 33,181.08
3,647.18 43,766.16
2,346.70 28,160.40
3,535.71 42,428.52
109.27 1,311.24
1,524.99 18,299.88
3,647.18 43,766.16
806.19 9,674.28
767.80 9,213.60
3,668.10 44,017.20
136.59 1,639.08
2,502.72 30,032.64
3,077.15 36,925.80
1,691.34 20,296.08
113,067.59 1,358,340.66
2/19/2015 K:\Fire Pension\Pension List\Pension List 2014\FP 120114 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
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
NOTARY PUBLIC
MY COMMISSION EXPIRES:
6610-9010-5335-00
6810-9610-5335-06
Drop PayouUlnlresl Checks to Drop Retirees
YTD Column
Difference
CHAIRMAN AND PRESIDENT
YTD
000 1358340 86
000 12635.69
000
0.00
0.00 "(should be off Supplemental al
2/19/2015 K:\Fire Pension\Pension List\Pension List 2014\FP 120114 Revised WM
FIREMEN'S RELIEF AND PENSION
January 1 1
2015 1 1
1 1
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.
2/18/2015 KAFire Pension\Pension List\Pension List 2015\FP 010115 Revised 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
2,618.55
74
3/86
BAIRD, JULIA
1,802 08
1,802.08
63
5/72
BOLAIN, ANN
109.27
109.27
68
7/99
BONADUCE, MICHAEL
2,98876
2,988,76
44
9/86
BOUDREY, BETTY MRS.
2,47742
2,477.42
45
9/86
BOUDREY, HOWARD
2,089.28
2,089,28
49
7/88
BOUDREY, JACK
1,647.63
1,647.63
57
5/90
CATE, ROY
1,788.90
1,788.90
188
12/05
DOSS, MARION H
5,376.91
5,37691
188
12/05
DOSS, MARION H plus 25 additional pay
731.61
731.61
11
2/76
FARRAR,ALONZO
998.86
998.86
192
4/06
FARRAR, DANNY
4,155.36
4,155.36
220
5/84
FRALEY, LORA D.
1,768.12
1,768.12
170
5/03
FREEDLE, LARRY
3,816.75
3,816.75
170
5/03
FREEDLE, LARRY plus 25 additional pay
141.37
141.37
92
03/02
GAGE,TOMMY
2,596.69
2,596.69
70
11/99
HARRIS, MARY RUTH
109.27
109.27
182
10/04
JENKINS, EILEEN
1,788.75
1,788.75
93
06/02
JENKINS, JOHN
1,788.76
1,788.76
86
07/01
JOHNSON,ROBERT
3,073.47
3,073.47
219
4/95
JORDAN, SANDRA K
2.27495
2,274.95
76
5/88
JUDY, JAN
1,647.63
1,647 63
37
3/84
KING, ARNOLD D.
1,522.37
1,522.37
54
5/89
KING, ARVIL
1,711.21
1,711.21
173
12/03
LEDBETTER, DENNIS
3,775.80
3,775.80
51
10/88
LEWIS, CHARLES
1,647.63
1,647.63
40
9/85
LOGUE, PAUL D.
2,86828
2,868.28
202
02/08
MAHAN, MARSHALL
4,077 28
4,077.28
50
9/88
MASON, LARRY
1,631.25
1,631.25
39
4/85
MC ARTHUR, RONALD A.
1,75374
1,753.74
35
2/82
MC CHRISTIAN, DWAYNE
109.27
109.27
15
4/77
MC WHORTER, CHARLES
1,334.51
1,334.51
209
8/81
MILLER, ALICE GAYLE
1,30407
1,304.07
73
2/00
MILLER,KENNETH
3,180.02
3,180.02
73
2/00
MILLER,KENNETH plus 25 additional pay
17060
170.60
217
2/86
MOORE, BETTY L
10927
109.27
176
4/04
MORRIS, DIXIE E.
125.66
125.66
48
7/88
MULLENS, DENNIS W.
2,191.30
2,191.30
184
3/05
NAPIER, LONNIE
3,518.28
3,518.28
196
01/02
ONEAL, TEDDY
4,120.99
4,120.99
46
5/88
OSBURN, TROY
1,899.66
1,899.66
81
02/01
PHILLIPS,LARRY
2,76509
2,765.09
203
02/08
PIERCE, JOEY
3,647.18
3,647.18
53
2/89
POAGE, LARRY
2,346.70
2,346.70
186
06/05
REAGAN, PETE
3,535.71
3,535.71
201
^02/08
REED, JUNE
10927
109.27
41
9/85
SCHADER, TROY
1,524.99
1,524.99
190
04/06
SHACKELFORD, GLEN
3,647.18
3,647.18
36
5/76
SPRINGSTON, CARL
806.19
806.19
90
03/02
STOUT, IMOGENE W
767.80
767.80
165
12/02
TATE, RALPH
3,668.10
3,668.10
65
3/66
TUNE, BILLIE SUE
136.59
13659
71
1/00
WARFORD,THOMAS
2,502.72
2,502.72
88
01/02
WOOD,RONNIE D
3,077.15
3,077.15
208
9/88
WRIGHT, Barbara
1,691.34
1,691.34
113,067.59
113,067.59
2/18/2015 KAFire Pension\Pension List\Pension List 2015\FP 010115 Revised WM
DATE OF Regular Mo Year To Date Act 1373
EMP# RETIREMENT NAME Benefit Reg Benefit Future Supplement
WE, THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE
JUST AND CORRECT; THAT NO PART THEREOF HAS BEEN PREVIOUSLY PAID; THAT 0.00
THE PENSION PAYMENTS SO CHARGED ARE IN ACCORDANCE WITH THE ACTIONS OF
THE BOARD OF TRUSTEES OF THE FIREMEN'S RELIEF AND PENSION FUND; THAT
THE SERVICES OR SUPPLIES FURNISHED, AS THE CASE MAY BE, WERE ACTUALLY
RENDERED OR FURNISHED; AND THAT THE CHARGES MADE THEREFORE DO NOT
EXCEED THE AMOUNT ALLOWED BY LAW OR THE CUSTOMARY CHARGE FOR SIMILAR
SERVICES OR SUPPLIES
SECRETARY
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
NOTARY PUBLIC
MY COMMISSION EXPIRES:
CHAIRMAN AND PRESIDENT
2/18/2015 K:\Fire Pension\Pension List\Penslon List 2015\FP 010115 Revised WM
YTD
6810-9810-5335-00
0.00
113067.59
6810-9810-5335-06
0.00
#REFI
Drop Payoutllntrest Checks to Drop Retirees
000
YTD Column
0.00
Difference
000
"(should be off Supplemental amount for DROP part)
2/18/2015 K:\Fire Pension\Pension List\Penslon List 2015\FP 010115 Revised WM
FIREMEN'S RELIEF AND PENSION
February 2
2015 2 2
2 2
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 5,237.10
1,802.08 3,604.16
109.27 218.54
2,988.76 5,977.52
2,477.42 4,95484
2,089.28 4,178.56
1,647.63 3,29526
1,788.90 3,577.80
5,37691 10,753.82
731.61 1,46322
998.86 1,997.72
4,155.36 8,310.72
1,768.12 3,536.24
3,816.75 7,633.50
141.37 282.74
2,596.69 5,193.38
109.27 218.54
1,788.75 3,577.50
1,788.76 3,577.52
3,073.47 6,146.94
2,274.95 4,549.90
1,647.63 3,29526
1,522.37 3,044.74
1,711.21 3,422.42
3,775.80 7,55160
1,647.63 3,295.26
2,868.28 5,736.56
4,077.28 8,154.56
1,631.25 3,262.50
1,753.74 3,50748
109.27 218.54
1,334.51 2,669.02
1,304.07 2,608.14
3,180.02 6,360.04
170.60 341.20
109.27 218.54
125.66 251.32
2,191.30 4,382.60
3,518.28 7,036.56
4,120.99 8,241.98
1,899.66 3,799.32
2,765.09 5,530.18
3,647.18 7,294.36
2,346.70 4,693.40
3,535.71 7,071.42
109.27 218.54
1,524.99 3,049.98
3,647.18 7,294.36
806.19 1,612.38
767.80 1,535.60
3,668.10 7,33620
136.59 273.18
2,502.72 5,005.44
3,077.15 6,154.30
1,691.34 3,38268
113,067.59 226,135.18
2/19/2015 K:\Fire Pension\Pension List\Pension List 2015\FP 020115 WM
DATE OF
EMP# RETIREMENT
NAME
177
4/04
BACHMAN, EDDIE
74
3/86
BAIRD, JULIA
63
5/72
BOLAIN, ANN
68
7/99
SONADUCE, MICHAEL
44
9/86
BOUDREY, BETTY MRS.
45
9/86
BOUDREY, HOWARD
49
7/88
BOUDREY, JACK
57
5/90
CATE, ROY
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
220
5/84
FRALEY, LORA D.
170
5/03
FREEDLE, LARRY
170
5/03
FREEDLE, LARRY plus 25 additional pay
92
03/02
GAGE,TOMMY
70
11/99
HARRIS, MARY RUTH
182
10/04
JENKINS, EILEEN
93
06/02
JENKINS, JOHN
86
07/01
JOHNSON,ROBERT
219
4/95
JORDAN, SANDRA K
76
5/88
JUDY, JAN
37
3/84
KING, ARNOLD D.
54
5/89
KING, ARVIL
173
12/03
LEDBETTER, DENNIS
51
10/88
LEWIS, CHARLES
40
9/85
LOGUE, PAUL D.
202
02/08
MAHAN, MARSHALL
50
9/88
MASON, LARRY
39
4/85
MC ARTHUR, RONALD A.
35
2/82
MC CHRISTIAN, DWAYNE
15
4/77
MC WHORTER, CHARLES
209
8/81
MILLER, ALICE GAYLE
73
2/00
MILLER,KENNETH
73
2/00
MILLER,KENNETH plus 25 additional pay
217
2/86
MOORE, BETTY L
176
4/04
MORRIS, DIXIE E.
48
7/88
MULLENS, DENNIS W.
184
3/05
NAPIER, LONNIE
196
01/02
ONEAL, TEDDY
46
5/88
OSBURN, TROY
81
02/01
PHILLIPS,LARRY
203
02/08
PIERCE, JOEY
53
2/89
POAGE, LARRY
186
06/05
REAGAN, PETE
201
A02/08
REED, JUNE
41
9/85
SCHADER, TROY
190
04/06
SHACKELFORD, GLEN
36
5/76
SPRINGSTON, CARL
90
03/02
STOUT, IMOGENE W.
165
12/02
TATE, RALPH
65
3/66
TUNE, BILLIE SUE
71
1/00
WARFORD,THOMAS
88
01/02
WOOD,RONNIE D
208
9/88
WRIGHT, Barbara
Regular Mo Year To Date
Benefit Reg Benefit
2,618.55 5,237.10
1,802.08 3,604.16
109.27 218.54
2,988.76 5,977.52
2,477.42 4,95484
2,089.28 4,178.56
1,647.63 3,29526
1,788.90 3,577.80
5,37691 10,753.82
731.61 1,46322
998.86 1,997.72
4,155.36 8,310.72
1,768.12 3,536.24
3,816.75 7,633.50
141.37 282.74
2,596.69 5,193.38
109.27 218.54
1,788.75 3,577.50
1,788.76 3,577.52
3,073.47 6,146.94
2,274.95 4,549.90
1,647.63 3,29526
1,522.37 3,044.74
1,711.21 3,422.42
3,775.80 7,55160
1,647.63 3,295.26
2,868.28 5,736.56
4,077.28 8,154.56
1,631.25 3,262.50
1,753.74 3,50748
109.27 218.54
1,334.51 2,669.02
1,304.07 2,608.14
3,180.02 6,360.04
170.60 341.20
109.27 218.54
125.66 251.32
2,191.30 4,382.60
3,518.28 7,036.56
4,120.99 8,241.98
1,899.66 3,799.32
2,765.09 5,530.18
3,647.18 7,294.36
2,346.70 4,693.40
3,535.71 7,071.42
109.27 218.54
1,524.99 3,049.98
3,647.18 7,294.36
806.19 1,612.38
767.80 1,535.60
3,668.10 7,33620
136.59 273.18
2,502.72 5,005.44
3,077.15 6,154.30
1,691.34 3,38268
113,067.59 226,135.18
2/19/2015 K:\Fire Pension\Pension List\Pension List 2015\FP 020115 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
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
NOTARY PUBLIC
MY COMMISSION EXPIRES:
6810-9810-5335-00
6810-9810-5335-06
Drop PayouVlnlresl Checks to Drop Retirees
YTD Column
Difference
CHAIRMAN AND PRESIDENT
YTD
000
000
000
0.00
000
2/19/2015 K:\Fire Pension\Pension List\Pension List 2015\FP 020115 WM
226135.18
#REFI
"(should be off:
FIREMEN'S RELIEF AND PENSION
March 3 3
2015 3 3
3 3
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 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 5,366.70
5,376.91 16,130.73
731.61 2,194.83
998.86 2,996.58
4,155.36 12,466.08
1,768.12 5,304.36
3,816.75 11,450.25
141.37 424.11
2,596.69 7,790.07
109.27 327.81
1,788.75 5,36625
1,788.76 5,366.28
3,073.47 9,22041
2,274.95 6,824.85
1,647.63 4,942.89
1,52237 4,567.11
1,711.21 5,133.63
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 3,91221
3,180.02 9,54006
170.60 511.80
109.27 327.81
12566 376.98
2,191.30 6,573.90
3,518.28 10,554.84
4,120.99 12,362.97
1,89966 5,69898
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
113,067.59 339,202.77
2/19/2015 KAFire Pension\Pension List\Pension List 2015\FP 030115 WM
DATE OF
EMP# RETIREMENT
NAME
177
4/04
BACHMAN, EDDIE
74
3/86
BAIRD, JULIA
63
5/72
BOLAIN, ANN
68
7/99
BONADUCE, MICHAEL
44
9/86
BOUDREY, BETTY MRS.
45
9/86
BOUDREY, HOWARD
49
7/88
BOUDREY, JACK
57
5/90
CATE, ROY
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
220
5/84
FRALEY, LORA D.
170
5/03
FREEDLE, LARRY
170
5/03
FREEDLE, LARRY plus 25 additional pay
92
03/02
GAGE,TOMMY
70
11/99
HARRIS, MARY RUTH
182
10/04
JENKINS, EILEEN
93
06/02
JENKINS, JOHN
86
07/01
JOHNSON,ROBERT
219
4/95
JORDAN, SANDRA K
76
5/88
JUDY, JAN
37
3/84
KING, ARNOLD D.
54
5/89
KING, ARVIL
173
12/03
LEDBETTER, DENNIS
51
10/88
LEWIS, CHARLES
40
9/85
LOGUE, PAUL D.
202
02/08
MAHAN, MARSHALL
50
9/88
MASON, LARRY
39
4/85
MC ARTHUR, RONALD A.
35
2/82
MC CHRISTIAN, DWAYNE
15
4/77
MC WHORTER, CHARLES
209
8/81
MILLER, ALICE GAYLE
73
2/00
MILLER,KENNETH
73
2/00
MILLER,KENNETH plus 25 additional pay
217
2/86
MOORE, BETTY L
176
4/04
MORRIS, DIXIE E.
48
7/88
MULLENS, DENNIS W.
184
3/05
NAPIER, LONNIE
196
01/02
ONEAL, TEDDY
46
5/88
OSBURN, TROY
81
02/01
PHILLIPS,LARRY
203
02/08
PIERCE, JOEY
53
2/89
POAGE, LARRY
186
06/05
REAGAN, PETE
201
A02/08
REED, JUNE
41
9/85
SCHADER, TROY
190
04/06
SHACKELFORD, GLEN
36
5/76
SPRINGSTON, CARL
90
03/02
STOUT, IMOGENE W.
165
12/02
TATE, RALPH
65
3/66
TUNE, BILLIE SUE
71
1/00
WARFORD,THOMAS
88
01/02
WOOD,RONNIE D
208
9/88
WRIGHT, Barbara
Regular Mo Year To Date
Benefit Reg Benefit
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 5,366.70
5,376.91 16,130.73
731.61 2,194.83
998.86 2,996.58
4,155.36 12,466.08
1,768.12 5,304.36
3,816.75 11,450.25
141.37 424.11
2,596.69 7,790.07
109.27 327.81
1,788.75 5,36625
1,788.76 5,366.28
3,073.47 9,22041
2,274.95 6,824.85
1,647.63 4,942.89
1,52237 4,567.11
1,711.21 5,133.63
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 3,91221
3,180.02 9,54006
170.60 511.80
109.27 327.81
12566 376.98
2,191.30 6,573.90
3,518.28 10,554.84
4,120.99 12,362.97
1,89966 5,69898
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
113,067.59 339,202.77
2/19/2015 KAFire Pension\Pension List\Pension List 2015\FP 030115 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
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
NOTARY PUBLIC
MY COMMISSION EXPIRES:
6810-9810-5335-00
6810-9810-5335-06
Drop PayouVlnlrest Checks to Drop Retirees
YTD Column
Difference
CHAIRMAN AND PRESIDENT
YTD
000
000
000
000
000
2/19/2015 K:\Fire PensionkPension ListXPension List 2015\FP 030115 WM
339202.77
#REF!
"(should be off
FIREMEN'S RELIEF AND PENSION
April 4 4
2015 4 4
4 4
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 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
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
1,78875 7,155.00
1,788.76 7,155.04
3,073.47 12,293.88
2,274.95 9,099.80
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
109.27 437.08
1,334.51 5,338.04
1,30407 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
3,518.28 14,073.12
4,12099 16,483.96
1,899.66 7,598.64
2,76509 11,060.36
3,647.18 14,588.72
2,346.70 9,38680
3,535.71 14,142.84
10927 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
113,067.59 452,270.36
2/19/2015 K:\Fire Pension\Pension List\Pension List 2015\FP 040115 WM
DATE OF
EMP# RETIREMENT
NAME
177
4/04
BACHMAN, EDDIE
74
3/86
BAIRD, JULIA
63
5/72
BOLAIN, ANN
68
7/99
BONADUCE, MICHAEL
44
9/86
BOUDREY, BETTY MRS.
45
9/86
BOUDREY, HOWARD
49
7/88
BOUDREY, JACK
57
5/90
CATE, ROY
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
220
5/84
FRALEY, LORA D
170
5/03
FREEDLE, LARRY
170
5/03
FREEDLE, LARRY plus 25 additional pay
92
03/02
GAGE,TOMMY
70
11/99
HARRIS, MARY RUTH
182
10/04
JENKINS, EILEEN
93
06/02
JENKINS, JOHN
86
07/01
JOHNSON,ROBERT
219
4/95
JORDAN, SANDRA K
76
5/88
JUDY, JAN
37
3/84
KING, ARNOLD D
54
5/89
KING, ARVIL
173
12/03
LEDBETTER, DENNIS
51
10/88
LEWIS, CHARLES
40
9/85
LOGUE, PAUL D.
202
02/08
MAHAN, MARSHALL
50
9/88
MASON, LARRY
39
4/85
MC ARTHUR, RONALD A.
35
2/82
MC CHRISTIAN, DWAYNE
15
4/77
MC WHORTER, CHARLES
209
8/81
MILLER, ALICE GAYLE
73
2/00
MILLER,KENNETH
73
2/00
MILLER,KENNETH plus 25 additional pay
217
2/86
MOORE, BETTY L
176
4/04
MORRIS, DIXIE E.
48
7/88
MULLENS, DENNIS W
184
3/05
NAPIER, LONNIE
196
01/02
ONEAL, TEDDY
46
5/88
OSSURN, 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
9/85
SCHADER, TROY
190
04/06
SHACKELFORD, GLEN
36
5/76
SPRINGSTON, CARL
90
03/02
STOUT, IMOGENE W
165
12/02
TATE, RALPH
65
3/66
TUNE, BILLIE SUE
71
1/00
WARFORD,THOMAS
88
01/02
WOOD,RONNIE D
208
9/88
WRIGHT, Barbara
Regular Mo Year To Date
Benefit Reg Benefit
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
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
1,78875 7,155.00
1,788.76 7,155.04
3,073.47 12,293.88
2,274.95 9,099.80
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
109.27 437.08
1,334.51 5,338.04
1,30407 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
3,518.28 14,073.12
4,12099 16,483.96
1,899.66 7,598.64
2,76509 11,060.36
3,647.18 14,588.72
2,346.70 9,38680
3,535.71 14,142.84
10927 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
113,067.59 452,270.36
2/19/2015 K:\Fire Pension\Pension List\Pension List 2015\FP 040115 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
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
NOTARY PUBLIC
MY COMMISSION EXPIRES:
6810-9810-5335-00
6810-9810-533506
Drop Payouttintrest Checks to Drop Retirees
YTD Column
Difference
CHAIRMAN AND PRESIDENT
YTD
0.00 452270.36
0.00 #REFI
0.00
0.00
0.00 "(should be off F
2/19/2015 K:\Fire Pension\Pension List\Pension List 2015\FP 040115 WM
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Firemen's Pension and Relief Fund Board of Trustees
March 31, 2005
Pete Reagan moved that the Board set a policy that when the affidavits are sent to
the pensioners if they are not received within a 30 day time period of the due date
that is stated on the notice that all retirement payments be stopped until such
affidavit is received by the City Clerk. Robert Johnson seconded the motion. Upon
roll call the motion passed 6-0.
January 18, 2007 - Page 14 of 18
Pete Reagan moved to allow Amber Wood, Deputy City Clerk to sign pension
transfers in the City Clerk's absence. Marshall Mahan seconded the motion. Upon
roll call the motion passed 4-0. Mayor Coody and Ronnie Wood were absent.
Smith, Sondra
From: Leflar, Missy
Sent: Monday, November 03, 2014 11:49 AM
To: Smith, Sondra; Jordan, Lioneld
Cc: Williams, Kit; Becker, Paul; Lee, Pachee; Hertweck, Marsha; Leach, Trish
Subject: FW: 2015 Ptax Estimate Letter
Attachments: Fayetteville Fire.pdf, Fayetteville Police.pdf
Sondra, Mayor, Kit, and Paul,
I'm not exactly sure who all needs this information, so I'm forwarding it to all of you.
M issy
From: Denise Collins [mailto:dcollins@lopfi-prb.com]
Sent: Monday, November 03, 2014 10:40 AM
To: Leach, Trish
Cc: Leflar, Missy; Lee, Pachee; Baker, Jodie
Subject: 2015 Ptax Estimate Letter
Good morning -
The attached letter provides useful information of one of the changes in Act 979 of 2011. This act created a
new source of funding for local fire and police pension funds titled Additional Allocation.
The letter will inform your Local Pension Fund Board of Trustees of the estimated amount of the
Additional Allocation your pension fund could receive. Please provide a copy of the letter to each
trustee.
You may view Act 979 of 2011 by going to the website at www.lopfii-prb.com. Select the Links tab, General
Assembly, and then Acts.
Should you have additional questions you may contact our office toll free at 866-859-1745.
Sincerely,
PRB Staff
This message contains confidential information and is intended only for the individual named If you are not the named addressee you should not
disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-
mail from your system. E-mail transmission cannot be guaranteed to be secure or error -free as information could be intercepted, corrupted, lost,
destroyed, arrive late or incomplete, or contain viruses. The sender therefore does not accept liability for any errors or omissions in the contents of this
message, which arise as a result of e-mail transmission.
Osborn, Carreiro & Associates, Inc.
ACTUARIES • CONSULTANTS • ANALYSTS
October 31, 2014
Mr. David Clark, Executive Director
Arkansas Fire and Police Pension Review Board
620 West Third Street, Suite 200
Little Rock, AR 72201
RE: Fayetteville Fire Pension Fund
Estimated 2015 Premium Tax Allocation
Dear Mr. Clark:
One Union National Plaza, Suite 1690
124 West Capitol Avenue
Little Rock, Arkansas 72201
(501)376-8043 fax (501)376-7847
We have estimated the base benefit calculations needed for the Premium Tax Allocation formula
created by Act 979 of 2011 and PRB Board Rule 12. This letter will provide these estimates for the
above referenced local fire or police pension fund.
Actual Benefits Valued 1/1/2014
$1,359,434
Base Benefits Valued 1/1/2014
$765,510
Actuarial Cost of Base Benefits
$552,945
Estimated Premium Tax 2015
(30% of Actuarial Cost)
$165,883
Estimated Additional Allocation 2015, if eligible
(10% of Actuarial Cost)
$55,294
2014 Employer Contributions for Additional
Allocation 2015 Eligibility (80% of Actuarial Cost)
$442,356
Actual 2013 Reported Employer Contribution
(other than premium tax)
$527,430
Shortfall based on 2013 contributions
$0
Expected Eligibility based on 2013 contributions
Yes
The premium tax formula allocates monies based on an Actuarial Cost derived from a fund's Base
Benefits (that is, 50% of Final Salary, minimum $350 per month for paid members, and $100 per
month for volunteer members). Each fund receives 30% of this calculated Actuarial Cost as
Premium Tax. Each fund is also eligible for an Additional Allocation equal to 10% of this Actuarial
Cost, provided that the Employer Contributions other than Premium Tax made by the location are
equal to at least 80% of the Actuarial Cost. We have included last year's contributions and the
estimated shortfall to become eligible for the Additional Allocation if Employer Contributions were
to remain level in 2014.
As a reminder, these numbers constitute estimates, and they MAY vary materially from the figures
shown here. In particular, an additional employer contribution equal to the shortfall estimate shown
will not guarantee Additional Allocation eligibility in 2015. Please note that in 2014 the
Additional Allocation was proportionally reduced by 20% due to a shortfall in Premium Tax
revenues. Any similar shortfall would also reduce Additional Allocation amounts in 2015.
O
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Smith, Sondra
From: Smith, Sondra
Sent: Thursday, January 29, 2015 6:48 PM
To: McCoy, Dee; Dennis Mullens (dmullens@cox.net); Eads, Gail; Roberts, Gina; Johnson,
Kimberly; Williams, Kit; Broyles, Lana; Jordan, Lioneld; Branson, Lisa; Marion Doss
(mhdoss42@aol.com); Pete Reagan (preaganl4@gmail.com); Ron Wood
(rwood@co.washington.ar.us); Roy Cate (rcate48@yahoo.com); Smith, Sondra; Watkins -
Bradley, Kerry
Subject: PRB Letter
Attachments: Funding Status 120314.pdf
Hi Board Members
Please review the attached form and let me know how you want to respond to the highlighted section. We can
sent the report the Mayor does to the Council or draft a letter at our next board meeting.
Have a great day!
Office of the City Clerk Treasurer
Sondra E. Smith CAMC, CMC
City Clerk Treasurer
113 W. Mountain Street, Suite 308
Fayetteville, AR 72701
479.575.8323
ssmith(5fayetteville-ar.gov
Website I Facebook I Twitter I YouTube
CIT` OF
I7am4�-y
Ile
RECEIVED
DEC 0 4 2014
CITY OF FAYETTEVILLE
CITY CLERK'S OFFICE
ARKANSAS FIRE & POLICE PENSION REVIEW BOARD
December 3, 2014
Board of Trustees and City Council Members
Fayetteville Fire Pension Fund
113 W. Mountain
Fayetteville, AR 72701
Re: Funding Status (Via: Certified Mail)
Dear Trustees and Council Members:
620 W. 3rd, Suite 200
Little Rock, Arkansas 72201-2223
Telephone: (501) 682-1745
Toll -Free: (866) 859-1745
Fax: (501) 682-1751
email: info@lopfi-prb.com
website: www.lopfi-prb.com
At their December 3`d meeting, the PRB determined that your Local Plan still meets the
definition of a "projected insolvent" plan as described in ACA 24-11-208. In 2010, the PRB
issued a Special Report that informed the Local Plan of the available options to protect the
benefits for each participant of the plan. Given the length of time since that report was issued
and the fact that the Local Plan is still considered projected insolvent, the PRB directed staff and
the actuaries to issue an updated Special Report to the Local Plan in the 2015 -year.
In order to provide you the updated report it is necessary that the Local Plan promptly
complete its December 31, 2014 Annual Financial Report (AFR). The AFR will be emailed to
the Local Plan within the next three weeks. It is essential that the report is properly completed
and returned to the PRB as soon as possible. The AFR will be used to complete the updated
Special Report, which will be presented to your board and city officials during the 2015 -year.
PRB staff will contact your Local Plan to arrange a meeting at your location to discuss the
updated report. Because of the importance of this matter the PRB requires that your Local Plan
promptly alert each participant of the Local Plan as well as your city council members and advise
all parties of the Local Plan's projected insolvent status.
If you have questions, please contact Denise Collins at one of the above numbers.
Respectfully,
oe,e_ 12e:f 4z
David B. Clark
Executive Director
Cc: PRB Members
City of Fayetteville
Firemen's Pension and Relief Fund Board of Trustees
2015 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.
lan urry 29r2915 (Rescheduled to February 19, 2015)
April 30, 2015
July 30, 2015
October 29, 2015
GARRISON
F I N A N C I A L
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
Quarter Ending December 31, 2014
Garrison Financial
PORTFOLIO SUMMARY
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
December 31, 2014
5.6%
Cash & Equivalents 238,956.82
L Account Fixed Income 1,309,685.18
Account Equities 2,735,439.44
Garrison Financial
PORTFOLIO
APPRAISAL
City
of Fayetteville Firemen's Pension & Relief
Fund
Charles Schwab #7851-1206
December
31, 2014
Adj Unit
Total Adjusted
Market
Pet.
Unit
Annual
Quantity
Security
Cost
Cost
Price
Value
Assets
Income
Income
Yield
CASH AND EQUIVALENTS
Schwab Advisor Cash Res -
238,956.82
238,956.82
5.6
0.010
23.90
0.0
Premier
238,956.82
238,956.82
5.6
23.90
0.0
TREASURY NOTE
200,000
US Treasury Note
100.75
201,493.37
109.62
219,250.00
5.1
4,000
8,000.00
1.3
4.000% Due 08-15-18
Accrued Interest
3,000.00
0.1
201,493.37
222,250.00
5.2
8,000.00
1.3
CORPORATE BONDS
50,000
IBM Corp.
100.01
50,002.82
131.88
65,940.50
1.5
7.000
3,500.00
3.5
7.000% Due 10-30-25
Accrued Interest
583.33
0.0
50,002.82
66,523.83
1.6
3,500.00
3.5
COMMON STOCK
1,710
AT&T, Inc.
24.39
41,702.95
33.59
57,438.90
1.3
1.880
3,214.80
5.6
1,575
AbbVie, Inc.
24.35
38,357.14
65.44
103,068.00
2.4
1.960
3,087.00
3.0
1,575
Abbott Laboratories
22.46
35,371.29
45.02
70,906.50
1.7
0.960
1,512.00
2.1
1,000
American Electric
33.69
33,687.39
60.72
60,720.00
1.4
2.120
2,120.00
3.5
Power
2,300
BCE, Inc. Cl F
24.40
56, l 10.1 1
45.86
105,478.00
2.5
2.520
5,796.00
5.5
700
Chevron Corporation
73.07
51,150.83
112.18
78,526.00
1,8
4.280
2,996.00
3.8
3,000
Cisco Systems, Inc.
17.43
52,302.90
27.81
83,445.00
1.9
0.760
2,280.00
2.7
2,200
Coca-Cola Company
26.40
58,074.28
42,22
92,884.00
2.2
1.220
2,684.00
2.9
1,200
ConocoPhillips
44.94
53,930.85
69.06
82,872.00
1.9
2.920
3,504.00
4.2
833
Duke Energy Corp.
57.48
47,880.86
83.54
69,588.78
1.6
3.180
2,648.94
3.8
750
Emerson Electric
38.01
28,509.22
61.73
46,297.50
1.1
1.880
1,410.00
3.0
3,000
General Electric Co.
15.96
47,883.00
25.27
75,810.00
1.8
0.920
2,760.00
3.6
900
Genuine Parts Co.
36.65
32,986.53
106.57
95,913.00
2.2
2.300
2,070.00
2.2
1,500
GlaxoSmidiMine Plc.
38.47
57,702.15
42.74
64,1 10.00
1.5
2.650
3,975.00
6.2
106
Halyard Health, Inc.
20.19
2,139.84
45.47
4,819.82
0.1
0.000
0.00
0.0
3,725
Intel Corp.
17.61
65,581.48
36.29
135;180.25
3.2
0.960
3,576.00
2.6
815
Johnson & Johnson
60.77
49,527.39
104.57
85,224.55
2.0
2.800
2,282.00
2.7
850
Kimberly Clark Corp.
58.18
49,454.69
115.54
98,209.00
2.3
3.360
2,856.00
2.9
1,300
Microsoft Corp.
26.30
34,185.86
46.45
60,385.00
1.4
1.240
1,612,00
2.7
1,520
Pfizer, Inc.
16.52
25, l 16.11
31.15
47,348.00
1.1
1.120
1,702.40
3.6
1,000
Procter&Gamble Co.
50.46
50,458.56
91.09
91,090.00
2.1
2.570
2,570.00
2.8
700
Wal-Mart Stores, Inc.
50.36
35,248.98
85.88
60,116.00
1.4
1.920
1,344,00
2.2
947,362.43
1,669,430.30
39.0
56,000.14
3.4
MUTUAL FUNDS
1,296.008
Columbia Acorn Intl Z
38.58
50,000.00
41.73
54,082.41
1.3
0.680
881.29
1.6
14,455,268
Fed Interm Corp Bond
9.69
140,000.00
9.50
137,325.05
3.2
0.360
5,203.90
3.8
7,651.109
Natixis Loomis Sayles
13.07
100,000,00
13.04
99,770.46
2.3
0.420
3,213,47
3.2
Bond Fund
3,600.360
P1MCO Total Return Cl
11.11
40,000.00
10.66
38,379.84
0,9
0.210
756.08
2.0
D
4,683.407
SteelPath MLP Income
10.68
50,000.00
10.64
49,831.45
1.2
0.780
3,653.06
7.3
4,558.369
Vanguard Developed
10.97
50,000.00
12.17
55,475.35
1.3
0.410
1,868.93
3.4
Markets
1,387.374
Vanguard Emerging
36.04
50,000.00
33.25
46,130.19
1.1
0.950
1,318.01
2.9
Mkts Stk Index
2,615.123
Vanguard Hi -Div Y]d
19.12
50,000.00
27.22
71,183.65
1.7
0.740
1,935.19
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
December 31, 2014
Adj Unit
Total Adjusted
Market
Pct.
Unit
Annual
Quantity
Security
Cost
Cost Price
Value
Assets
Income
Income
Yield
3,412.116
Vanguard Mid -Cap
29.31
100,000.00 43.72
149,177.71
3.5
0.350
1,194.24
0.8
Growth
3,410.952
Vanguard Mid -Cap
29.32
100,000.00 46.30
157,927.08
3.7
0.770
2,626.43
1.7
Value
3,290.816
Vanguard Small -Cap
30.39
100,000.00 44.26
145,651.52
3.4
0.450
1,480.87
1.0
Growth
3,324.742
Vanguard Small -Cap
30.08
100,000.00 45.42
151,009.78
3.5
0.800
2,659.79
1.8
Value
930,000.00
1,155,944.48
27.0
26,791.24
2.3
UNIT TRUSTS
2,500
Sector SPDR Utility
31.96
79,899.25 47.22
118,050.00
2,8
1.510
3,775.00
3.2
Select Shs
1,400
iShares Barclays 7-10
104.43
146,198.70 105.99
148,386,00
3.5
2.170
3,038.00
2.0
yr Treasury
850
iShares DJ Select Div
47.39
40,285.75 79.40
67,490.00
1.6
2.410
2,048.50
3.0
5,000
iShares IBOXX Inv
106.90
534,506.93 119.41
597,050.00
13.9
4.050
20,250.00
3.4
Grade Corp Bond
800,890.63
930,976.00
21.7
29,111.50
3.1
TOTAL PORTFOLIO
3,1689706.08
4,284,081.43
100.0
123,426.78
2.7
You should carefully compare this statement to the statement you receive from your custodian and notify us immediately of any discrepancies.
2
Trade Settle
Date Date
PURCHASES
03-21-14 03-24-14
03-21-14 03-24-14
SALES
05-06-14
05-09-14
02-05-14
02-10-14
02-05-14
02-10-14
02-05-14
02-10-14
11-03-14
11-03-14
11-11-14
11-14-14
05-06-14
05-09-14
05-06-14
05-09-14
05-06-14
05-09-14
02-05-14
02-10-14
05-06-14
05-09-14
03-21-14
03-24-14
05-06-14 05-09-14
05-06-14 05-09-14
Garrison Financial
PURCHASE AND SALE
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
From 01-01-14 To 12-31-14
Quantity Security
10,471.204 Fed Interm Corp Bond
7,651.109 Natixis Loomis Sayles Bond Fund
1,000 American Electric Power
250 Emerson Electric
1,000 General Electric Co.
500 G1axoSmithKline Plc.
0 Halyard Health, Inc.
450 IBM Corporation
300 Johnson & Johnson
100 Microsoft Corp.
1,300 Microsoft Corp.
1,000 Pfizer, Inc.
1,600 Pfizer, Inc.
200,000 US Treasury Note
4.000% Due 08-15-18
500 Wal-Mart Stores, Inc.
200 Wal-Mart Stores, Inc.
Unit
Price
Amount
9.55
100,000.00
13.07
100,000.00
200,000.00
52.96
63.80
24.53
51.69
36.64
163.45
99.64
39.04
39.03
30.66
29.48
110.65
52,960.88
15,949.02
24,533.62
25,846.60
9.16
73,552.72
29,891.69
3,903.77
50,743.87
30,663.52
47,175.61
221,305.62
78.13 39,065.25
78.13 15,625.29
631,226.62
Garrison Financial
REALIZED GAINS AND LOSSES
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
From 01-01-14 Through 12-31-14
TOTAL REALIZED GAIN/LOSS 162,696.39
CAPITAL GAIN DISTRIBUTIONS
06-04-14
Columbia Acorn Intl Z
12-03-14
Fed Interni Corp Bond
12-03-14
Fed Interm Corp Bond
Gain Or Loss
Open
Close
PIMCO Total Return Cl D
Cost
Amort. or
Date
Date
Quantity Security
Basis
Accretion
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 G1axoSmithKline Plc.
19,234.05
25,846.60
6,612.55
12-31-05
03-21-14
200,000 US Treasury Note
204,437.50
-2,646.83
221,305.62
19,514.95
4.000% Due 08-15-18
12-31-05
05-06-14
1,000 American Electric Power
33,687.39
52,960.88
19,273.48
12-31-05
05-06-14
100 Microsoft Corp.
2,629.68
3,903.77
1,274.09
12-31-05
05-06-14
1,300 Microsoft Corp.
34,185.86
50,743.87
16,558.01
12-31-05
05-06-14
300 Johnson & Johnson
18,230.94
29,891.69
11,660.75
12-31-05
05-06-14
1,600 Pfizer, Inc.
26,438.01
47,175.61
20,737.60
12-31-05
05-06-14
500 Wal-Mart Stores, hic.
25,177.85
39,065.25
13,887.40
12-31-05
05-06-14
200 Wal-Mart Stores, Inc.
10,071.14
15,625.29
5,554.15
12-31-05
11-03-14
0 Halyard Health, Inc,
5.05
9.16
4.11
12-31-05
11-11-14
450 IBM Corporation
55,091.76
73,552.72
18,460.96
TOTAL GAINS
0.00
162,696.39
TOTAL LOSSES
0.00
0.00
471,177.06
-2,646.83
631,226.62
0.00
162,696.39
TOTAL REALIZED GAIN/LOSS 162,696.39
CAPITAL GAIN DISTRIBUTIONS
06-04-14
Columbia Acorn Intl Z
12-03-14
Fed Interni Corp Bond
12-03-14
Fed Interm Corp Bond
12-09-14
Columbia Acorn Intl Z
12-10-14
PIMCO Total Return Cl D
12-16-14
Natixis Loomis Sayles Bond
12-16-14
TOTAL DISTRIBUTIONS
Fund
Natixis Loomis Sayles Bond
Fund
4,079.16
TOTAL GAIN/LOSS 166,775.55
664.37
6.09
169.85
2,333.88
302.83
356.54
245.60
362.63 3,716.53
362.63 166,412.92
Garrison Financial
PERFORMANCE SUMMARY
GROSS OF FEES
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
December 31, 2014
PORTFOLIO COMPOSITION
Commodities
Total
Account
40% Fixed Income/60%
Equity Blended Index
Account Fixed Income
Barclays Capital Intermed
Govt/Credit
Account Equities
S&P 500
4,284,081.43 100.0 2.7
CHANGE IN PORTFOLIO
Portfolio Value on 12-31-13
Market
Pct.
6,583.33
Net Add itions/Withdrawals
Value
Assets
Yield
Cash & Equivalents
238,956.82
5.6
0.0
Account Fixed
1,309,685.18
30.6
2.9
Income
3,583.33
4.69
4,284,081.43
Account Equities
2,735,439.44
63.9
2.9
Account
0.00
0.0
-
Commodities
Total
Account
40% Fixed Income/60%
Equity Blended Index
Account Fixed Income
Barclays Capital Intermed
Govt/Credit
Account Equities
S&P 500
4,284,081.43 100.0 2.7
CHANGE IN PORTFOLIO
Portfolio Value on 12-31-13
4,521,868.03
Accrued Interest
6,583.33
Net Add itions/Withdrawals
-624,398.25
Realized Gains
-8,516.93
Unrealized Gains
257,036.22
Income Received
136,402.48
Change in Accrued Interest
-3,000.00
Portfolio Value on 12-31-14
4,280,498.10
Accrued Interest
3,583.33
4.69
4,284,081.43
TIME WEIGHTED RETURN
Annualized
Quarter
Last 12
Inception
To Date
Months
To Date
3.52
9.35
10.36
3.31
9.43
12.05
1.61
6.56
2.91
0.89
3.13
1.73
4.69
11.48
15.35
4.93
13.69
19.26
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.
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