HomeMy WebLinkAbout2006-07-20 - Agendas - Final Firemen's Pension and Relief Fund
Meeting Agenda
July 20, 2006
A meeting of the Fayetteville Firemen's Pension and Relief Fund will be held at 11 :00 AM
on July 20, 2006 in Room 326 of the City Administration Building
1. Approval of the Minutes:
• June 29, 2006 Meeting Minutes
2. Approval of the Pension List:
• December, 2005 Revised Pension List - YTD amount was incorrect on the
December, 2005 Pension List that was approved
• July, 2006 Revised Pension List — Arnold King changed his withholding after we
approved the July Pension List
• August, 2006 Pension List — Eliene Morrison deceased gross amount is $136.59 less
3. New Business:
• Eliene Morrison Deceased
• Merrill Lynch — Information — They would like to attend a meeting
• 2005 Actuarial Valuation
4. Old Business:
5. Longer Investments:
• Longer Investment Signed Policy for your Records
• Longer View
• Quarterly Report
• Monthly Report
Firemen's Pension and Relief Fund Board of Trustees
Meeting Minutes
June 29,2006
Page 1 of 2
Firemen's Pension and Relief Fund
Meeting Minutes
June 29, 2006
A meeting of the Fayetteville Firemen's Pension and Relief Fund was held at 11:00 AM on June
29, 2006 in Room 326 of the City Administration Building
Pete Reagan called the meeting to order
Present: Marion Doss, Teddy O'Neal, Pete Reagan, Ronnie Woods, City Clerk Sondra
Smith, Trish Leach, Accounting.
Absent: Mayor Coody, Dennis Ledbetter
Pete Reagan recognized the newest board member Ted O'Neal and welcomed him to the board.
Approval of the May 25, 2006 Meeting Minutes:
Ronnie Wood moved to approve the May 25, 2006 Meeting Minutes. Marion Doss
seconded the motion. Upon roll call the motion passed 5-0. Mayor Coody and Dennis
Ledbetter were absent.
Approval of the Pension Lists:
Approval of the Revised June, 2006 Pension List
Pete Reagan asked Sondra to explain the difference in the revised June and the July Pension
Lists.
Sondra Smith stated the gross amount is the same on both pension lists. The difference is the net
amount due to Eileen Jenkins changing her tax withholding.
Marion Doss moved to approve the Revised June, 2006 Pension List. Ronnie Wood
seconded the motion. Upon roll call the motion passed 5-0. Mayor Coody and Dennis
Ledbetter were absent.
Approval of the July, 2006 Pension List:
Teddy O'Neal moved to approve the July, 2006 Pension List. Marion Doss seconded the
motion. Upon roll call the motion passed 5-0. Mayor Coody and Dennis Ledbetter were
absent.
Firemen's Pension and Relief Fund Board of Trustees
Meeting Minutes
June 29,2006
Page 2 of 2
Old Business:
Elections — Pete Reagan and Marion Doss were elected
Pete Reagan: Congratulations to Marion Doss and Pete Reagan for being re-elected to the
pension board.
Sondra Smith: We did not get any write in votes.
Longer Investments Monthly Report:
A copy of the Longer Investment monthly report was given to the board.
Meeting Adjourned at 11:15 AM
FIREMEN'S RELIEF AND PENSION
December 2005 Revised -YTD Total was incorrect
THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE
MONTH OF AUGUST. YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE
PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED.
Act 1373
DATE OF Regular Mo Year To Date Future
EMP#RETIREMENT NAME Benefit Reg Benefit Supplement Fed Tax St Tax Net
79 11199 ARMSTRONG (DILL), PAMELA 1,759.94 21,119.28 0.00 300.00 100.00 1,359.94
177 4/04 BACHMAN, EDDIE 2,542.28 30,507.36 450.00 479.27 119.82 1,943.19
74 3/86 BAIRD, JULIA 1,749.59 20,995.08 450.00 350.00 145.00 1,254.59
2 3/75 BLACKARD, PAUL 106.09 1,273.08 90.00 106.09
63 5/72 BOLAIN, ANN 106.09 1,273.08 90.00 106.09
68 7/99 BONADUCE, MICHAEL 2,901.71 34,820.52 450.00 475.38 2,426.33
44 9/86 BOUDREY, BETTY MRS. 2,405.26 28,863.12 450.00 300.00 50.00 2,055.26
45 9/86 BOUDREY, HOWARD 2,028.43 24,341.16 450.00 2,028.43
49 7/88 BOUDREY, JACK 1,599.64 19,195.68 450.00 287.68 50.00 1,261.96
4 6/67 CARL, FLOYD JR, (Deceased 2/28/05) 0.00 212.18
5 5/72 CASELMAN, ARTHUR 127.31 1,527.72 90.00 127.31
57 5/90 CATE, ROY 1,736.80 20,841.60 450.00 1,736.80
6 4/68 CHRISTIE, ARNOLD 106.09 1,273.08 90.00 106.09
8 10/76 COUNTS, WAYNE 106.09 1,273.08 90.00 106.09
77 11/99 DILL,GARY JOHN 1,759.95 21,119.40 450.00 100.00 1,659.95
11 2176 FARRAR,ALONZO 969.77 11,637.24 450.00 969.77
38 5/84 FRALEY, JOSEPH G. 1,716.62 20,599.44 450.00 200.00 15.00 1,501.62
170 5103 FREEDLE, LARRY 3,705.58 44,466.96 450.00 500.00 100.00 3,105.58
92 03/02 GAGE,TOMMY 2,521.06 30,252.72 450.00 226.00 50.00 2,245.06
34 6179 HARRIS, JAMES E. 106.09 1,273.08 90.00 106.09
70 11/99 HARRIS, MARY RUTH 106.09 1,273.08 90.00 106.09
182 10104 JENKINS, EILEEN 1,736.65 20,839.80 0.00 350.00 100.00 1,286.65
93 06102 JENKINS, JOHN 1,736.66 20,839.92 450.00 350.00 100.00 1,286.66
86 07/01 JOHNSON,ROBERT 2,983.95 35,807.40 450.00 500.00 100.00 2,383.95
64 4195 JORDAN, CHARLIE 2,208.69 26,504.28 450.00 2,208.69
76 5/88 JUDY, JAN 1,599.64 19,195.68 450.00 200.00 50.00 1,349.64
37 3/84 KING, ARNOLD D. 1,478.03 17,736.36 450.00 300.00 47.00 1,131.03
54 5/89 KING, ARVIL 1,661.37 19,936.44 450.00 130.00 50.00 1,481.37
12 3/60 LANE, HOPE MRS 106.09 1,273.08 90.00 106.09
13 10/67 LAYER, MERLIN 442.93 5,315.16 450.00 442.93
173 12/03 LEDBETTER, DENNIS 3,665.83 43,989.96 450.00 650.00 200.00 2,815.83
181 10/04 LEE, VIOLA LOUISE 106.09 1,273.08 90.00 106.09
51 10/88 LEWIS, CHARLES 1,599.64 19,195.68 450.00 75.00 25.00 1,499.64
40 9/85 LOGUE, PAUL D. 2,784.74 33,416.88 450.00 325.00 75.00 2,384.74
50 9/88 MASON, LARRY 1,583.74 19,004.88 450.00 137.61 25.00 1,421.13
39 4185 MC ARTHUR, RONALD A. 1,702.66 20,431.92 450.00 150.00 50.00 1,502.66
35 2182 MC CHRISTIAN, DWAYNE 106.09 1,273.08 90.00 106.09
15 4177 MC WHORTER, CHARLES 1,295.64 15,547.68 450.00 150.00 1,145.64
29 8/81 MILLER, DONALD 1,266.09 15,193.08 450.00 125.00 25.00 1,116.09
73 2/00 MILLER,KENNETH 3,087.40 37,048.80 450.00 325.00 75.00 2,687.40
42 2/86 MOORE, JAMES H. 106.09 1,273.08 90.00 106.09
176 4/04 MORRIS, DIXIE E. 122.00 1,464.00 90.00 122.00
62 10/68 MORRISON, ELIENE 132.61 1,591.32 90.00 132.61
48 7/88 MULLENS, DENNIS W. 2,127.48 25,529.76 450.00 2,127.48
184 3/05 NAPIER, LONNIE 3,415.81 30,742.29 450.00 110.00 88.00 3,217.81
46 5/88 OSBURN, TROY 1,844.33 22,131.96 450.00 200.00 38.00 1,606.33
81 02/01 PHILLIPS,LARRY 2,684.55 32,214.60 450.00 2,684.55
53 2/89 POAGE, LARRY 2,278.35 27,340.20 450.00 300.00 100.00 1,878.35
186 06/05 REAGAN, PETE 3,432.73 20,596.38 450.00 3,432.73
22 4/73 REED, JOE 106.09 1,273.08 90.00 106.09
172 12/03 SCHADER, MADGE 1,345.64 16,147.68 450.00 1,345.64
41 9185 SCHADER, TROY 1,480.57 17,766.84 450.00 57.00 1,423.57
83 03/01 SKELTON, KIMBERLY 2,364.06 18,912.48 450.00 250.00 50.00 2,064.06
66 8/98 SKELTON, PAULINE, deceased 12/30/05 413.75 4,965.00 450.00 413.75
82 03/01 SKELTON,KELLY Terminated Benefits 8/31/05 0.00 9,456.24 450.00 0.00 0.00 0.00
36 5/76 SPRINGSTON, CARL 782.71 9,392.52 450.00 70.00 17.00 695.71
90 03/02 STOUT, IMOGENE W. 745.44 8,945.28 450.00 745.44
165 12102 TATE, RALPH 3,561.26 42,735.12 450.00 300.00 100.00 3,161.26
65 3/66 TUNE, BILLIE SUE 132.61 1,591.32 90.00 132.61
27 3/71 TUNE, MILDRED MRS. 132.61 1,591.32 90.00 132.61
71 1/00 WARFORD,THOMAS 2,429.83 29,157.96 450.00 300.00 2,129.83
28 7/68 WATTS, DONALD 424.36 5,092.32 450.00 424.36
DATE OF Regular Mo Year To Date Future
EMP#RETIREMENT NAME Benefit Reg Benefit Supplement Fed Tax St Tax Net
88 01/02 WOOD,RONNIE D 2,987.52 35,850.24 450.00 800.00 200.00 1,987.52
52 9/88 WRIGHT, RANDALL 1,642.08 19,704.96 450.00 _ 20_0.00 25.00 1,417.08
94,004.89 1,097,427.05 21,690.00 9,572.94 2,169.82 82,262.13
DROP DATE DROP EMPLOYEES NEW BENEFITS
01/01/01 DOSS,MARION 5,220.30 450.00
03/01/03 MAHAN, MARSHALL 3,958.53 450.00
03/01/03 PIERCE, JOEY 3,540.95 450.00
03/01/03 SHACKLEFORD, GLEN 3,540.95 450.00
04/01/03 LINEAL, TEDDY 4,000.96 450.00
05/01/04 FARRAR, DANNY 4,034.33 450.00
WE,THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE
JUST AND CORRECT; THAT NO PART THEREOF HAS BEEN PREVIOUSLY PAID;THAT
THE PENSION PAYMENTS SO CHARGED ARE IN ACCORDANCE WITH THE ACTIONS OF
THE BOARD OF TRUSTEES OF THE FIREMEN`S RELIEF AND PENSION FUND;THAT
THE SERVICES OR SUPPLIES FURNISHED,AS THE CASE MAY BE,WERE ACTUALLY
RENDERED OR FURNISHED;AND THAT THE CHARGES MADE THEREFORE DO NOT
EXCEED THE AMOUNT ALLOWED BY LAW OR THE CUSTOMARY CHARGE FOR SIMILAR
SERVICES OR SUPPLIES
SECRETARY CHAIRMAN AND PRESIDENT
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF 2005.
NOTARY PUBLIC
MY COMMISSION EXPIRES :
YTD
6810-98105935-1)0 1,097,427.05 1097427.05 0.00
6810-9810-5335-06 24,390.00 24390.00 0.00
Drop Payout/Inirest Checks to Drop Retirees 460,781.89
YTD Column 1,579,898.94
Difference 2,700.01) Drop expense to project
FIREMEN'S RELIEF AND PENSION
July 2006 7 REVISED Arnold King changed his withholding
THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE
MONTH OF AUGUST. YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE
PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED.
Act 1373
DATE OF Regular Mo Year To Date Future
EMP#RETIREMENT NAME Benefit Reg Benefit Supplement Fed Tax St Tax Net
Q 79 11/99 ARMSTRONG (DILL), PAMELA 1,812.74 12,689.18 300.00 100.00 1,412.74
R 177 4/04 BACHMAN, EDDIE 2,618.55 18,329.85 479.27 119.82 2,019.46
S 74 3/86 BAIRD, JULIA 1,802.08 12,614.56 350.00 145.00 1,307.08
V 2 3/75 BLACKARD, PAUL 109.27 764.89 109.27
V 63 5/72 BOLAIN, ANN 109.27 764.89 109.27
R 68 7/99 BONADUCE, MICHAEL 2,988.76 20,921.32 475.38 2,513.38
S 44 9/86 BOUDREY, BETTY MRS. 2,477.42 17,341.94 300.00 50.00 2,127.42
R 45 9/86 BOUDREY, HOWARD 2,089.28 14,624.96 2,089.28
R 49 7/88 BOUDREY, JACK 1,647.63 11,533.41 287.68 50.00 1,309.95
V 5 5172 CASELMAN, ARTHUR 131.13 917.91 131.13
R 57 5/90 CATE, ROY 1,788.90 12,522.30 1,788.90
V 6 4/68 CHRISTIE, ARNOLD 109.27 764.89 109.27
V 8 10/76 COUNTS, WAYNE 109.27 764.89 109.27
R 77 11/99 DILL,GARY JOHN 1,812.75 12,689.25 100.00 1,712.75
188 12/05 DOSS, MARION H 5,376.91 37,638.37 800.00 320.00 4,256.91
R 11 2/76 FARRAR,ALONZO 998.86 6,992.02 998.86
R 192 4/06 FARRAR, DANNY 4,155.36 12,466.08 207.00 207.00 3,741.36
R 38 5/84 FRALEY, JOSEPH G. 1,768.12 12,376.84 200.00 15.00 1,553.12
R 170 5/03 FREEDLE, LARRY 3,816.75 26,717.25 500.00 100.00 3,216.75
R 92 03/02 GAGE,TOMMY 2,596.69 18,176.83 226.00 50.00 2,320.69
V 34 6[79 HARRIS, JAMES E. 109.27 764.89 109.27
V 70 11/99 HARRIS, MARY RUTH 109.27 764.89 109.27
Q 182 10/04 JENKINS, EILEEN 1,788.75 12,521.25 150.00 75.00 1,563.75
R 93 06/02 JENKINS, JOHN 1,788.76 12,521.32 350.00 100.00 1,338.76
R 86 07/01 JOHNSON,ROBERT 3,073.47 21,514.29 500.00 100.00 2,473.47
R 64 4/95 JORDAN, CHARLIE 2,274.95 15,924.65 150.00 50.00 2,074.95
S 76 5/88 JUDY, JAN 1,647.63 11,533.41 200.00 50.00 1,397.63
R 37 3/84 KING, ARNOLD D. 1,522.37 10,656.59 326.00 75.00; 1,122.37
R 54 5/89 KING, ARVIL 1,711.21 11,978.47 130.00 50.00 1,531.21
V 12 3/60 LANE, HOPE MRS 109.27 764.89 109.27
R 13 10/67 LAYER, MERLIN 456.22 3,193.54 456.22
R 173 12/03 LEDBETTER, DENNIS 3,775.80 26,430.60 650.00 200.00 2,925.80
V 181 10/04 LEE, VIOLA LOUISE 109.27 764.89 109.27
R 51 10/88 LEWIS, CHARLES 1,647.63 11,533.41 75.00 25.00 1,547.63
R 40 9/85 LOGUE, PAUL D. 2,868.28 20,077.96 325.00 75.00 2,468.28
R 50 9/88 MASON, LARRY 1,631.25 11,418.75 137.61 25.00 1,468.64
R 39 4/85 MC ARTHUR, RONALD A. 1,753.74 12,276.18 150.00 50.00 1,553.74
V 35 2/82 MC CHRISTIAN, DWAYNE 109.27 764.89 109.27
R 15 4/77 MC WHORTER, CHARLES 1,334.51 9,341.57 150.00 1,184.51
R 29 8/81 MILLER, DONALD 1,304.07 9,128.49 125.00 25.00 1,154.07
R 73 2/00 MILLER,KENNETH 3,180.02 22,260.14 325.00 75.00 2,780.02
V 42 2/86 MOORE, JAMES H. 109.27 764.89 109.27
V 176 4/04 MORRIS, DIXIE E. 125.66 879.62 125.66
V 62 10/68 MORRISON, ELIENE 136.59 956.13 136.59
R 48 7/88 MULLENS, DENNIS W. 2,191.30 15,339.10 2,191.30
R 184 3/05 NAPIER, LONNIE 3,518.28 24,627.96 110.00 88.00 3,320.28
R 46 5/88 OSBURN, TROY 1,899.66 13,297.62 200.00 38.00 1,661.66
R 81 02/01 PHILLIPS,LARRY 2,765.09 19,355.63 2,765.09
R 53 2/89 POAGE, LARRY 2,346.70 16,426.90 300.00 100.00 1,946.70
R 186 06105 REAGAN, PETE 3,535.71 24,749.97 3,535.71
V 22 4/73 REED, JOE 109.27 764.89 109.27
S 172 12/03 SCHADER, MADGE 1,386.01 9,702.07 1,386.01
R 41 9/85 SCHADER, TROY 1,524.99 10,674.93 57.00 25.00 1,442.99
R 190 04/06 SHACKELFORD, GLEN 3,647.18 10,941.54 400.00 200.00 3,047.18
S 83 03/01 SKELTON, KIMBERLY 2,434.98 17,044.86 250.00 50.00 2,134.98
S 66 8/98 SKELTON, PAULINE, Deceased 12/30/05 0.00 0.00 0.00
R 36 5/76 SPRINGSTON, CARL 806.19 5,643.33 70.00 17.00 719.19
S 90 03/02 STOUT, IMOGENE W. 767.80 5,374.60 767.80
R 165 12/02 TATE, RALPH 3,668.10 25,676.70 300.00 100.00 3,268.10
V 65 3/66 TUNE, BILLIE SUE 136.59 956.13 136.59
V 27 3/71 TUNE, MILDRED MRS. 136.59 956.13 136.59
R 71 1/00 WARFORD,THOMAS 2,502.72 17,519.04 300.00 2,202.72
R 28 7/68 WATTS, DONALD 437.09 3,059.63 437.09
R 88 01/02 WOOD,RONNIE D 3,077.15 21,540.05 800.00 200.00 2,077.15
R 52 9/88 WRIGHT, RANDALL 1,691.34 11,839.38 200.00_ 2_5.00 1,466.34
109,578.28 735,837.80 0.00 10,954.94 2,974.82 95,648.52
7/19/2006 K:\Fire Pension\Pension List\Pension List 2006\070106 Revised WM
DATE OF Regular Mo Year To Date Future
EMP#RETIREMENT NAME Benefit Reg Benefit Supplement Fed Tax St Tax Net
DROP DATE DROP EMPLOYEES NEW BENEFITS
03/01/03 MAHAN, MARSHALL 4,077.28
03/01/03 PIERCE, JOEY 3,647.18
04/01/03 O'NEAL, TEDDY 4,120.99
WE, THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE
JUST AND CORRECT; THAT NO PART THEREOF HAS BEEN PREVIOUSLY PAID; THAT
THE PENSION PAYMENTS SO CHARGED ARE IN ACCORDANCE WITH THE ACTIONS OF
THE BOARD OF TRUSTEES OF THE FIREMEN'S RELIEF AND PENSION FUND; THAT
THE SERVICES OR SUPPLIES FURNISHED, AS THE CASE MAY BE, WERE ACTUALLY
RENDERED OR FURNISHED; AND THAT THE CHARGES MADE THEREFORE DO NOT
EXCEED THE AMOUNT ALLOWED BY LAW OR THE CUSTOMARY CHARGE FOR SIMILAR
SERVICES OR SUPPLIES
SECRETARY CHAIRMAN AND PRESIDENT
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF 2005.
NOTARY PUBLIC
MY COMMISSION EXPIRES :
YTD
6810-9810-5335-W 735,837.80 735837.80 0.00
681038105335.06 0.00 0.00 0.00
Drop PayouNlntrest Checks to Drop Retirees 605,196.04
YTD Column 1,341,033.84
Difference 0.00 "(should be off Supplemental amount for DROP part)
7/19/2006 K:\Fire Pension\Pension List\Pension List 2006\070106 Revised WM
FIREMEN'S RELIEF AND PENSION
August 2006 8 Eliene Morrison deceased less $136.59
THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE
MONTH OF AUGUST. YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE
PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED.
Act 1373
DATE OF Regular Mo Year To Date Future
EMP#RETIREMENT NAME Benefit Reg Benefit Supplement Fed Tax St Tax Net
Q 79 11/99 ARMSTRONG (DILL), PAMELA 1,812.74 14,501.92 300.00 100.00 1,412.74
R 177 4/04 BACHMAN, EDDIE 2,618.55 20,948.40 479.27 119.82 2,019.46
S 74 3/86 BAIRD, JULIA 1,802.08 14,416.64 350.00 145.00 1,307.08
V 2 3/75 BLACKARD, PAUL 109.27 874.16 109.27
V 63 5/72 BOLAIN, ANN 109.27 874.16 109.27
R 68 7/99 BONADUCE, MICHAEL 2,988.76 23,910.08 475.38 2,513.38
S 44 9/86 BOUDREY, BETTY MRS. 2,477.42 19,819.36 300.00 50.00 2,127.42
R 45 9/86 BOUDREY, HOWARD 2,089.28 16,714.24 2,089.28
R 49 7/88 BOUDREY, JACK 1,647.63 13,181.04 287.68 50.00 1,309.95
V 5 5172 CASELMAN, ARTHUR 131.13 1,049.04 131.13
R 57 5/90 LATE, ROY 1,788.90 14,311.20 1,788.90
V 6 4/68 CHRISTIE, ARNOLD 109.27 874.16 109.27
V 8 10!76 COUNTS, WAYNE 109.27 874.16 109.27
R 77 11/99 DILL,GARY JOHN 1,812.75 14,502.00 100.00 1,712.75
188 12/05 DOSS, MARION H 5,376.91 43,015.28 800.00 320.00 4,256.91
R 11 2/76 FARRAR,ALONZO 998.86 7,990.88 998.86
R 192 4/06 FARRAR, DANNY 4,155.36 16,621.44 207.00 207.00 3,741.36
R 38 5/84 FRALEY, JOSEPH G. 1,768.12 14,144.96 200.00 15.00 1,553.12
R 170 5/03 FREEDLE, LARRY 3,816.75 30,534.00 500.00 100.00 3,216.75
R 92 03/02 GAGE,TOMMY 2,596.69 20,773.52 226.00 50.00 2,320.69
V 34 6/79 HARRIS, JAMES E. 109.27 874.16 109.27
V 70 11/99 HARRIS, MARY RUTH 109.27 874.16 109.27
Q 182 10/04 JENKINS, EILEEN 1,788.75 14,310.00 150.00 75.00 1,563.75
R 93 06/02 JENKINS, JOHN 1,788.76 14,310.08 350.00 100.00 1,338.76
R 86 07/01 JOHNSON,ROBERT 3,073.47 24,587.76 500.00 100.00 2,473.47
R 64 4/95 JORDAN, CHARLIE 2,274.95 18,199.60 150.00 50.00 2,074.95
S 76 5/88 JUDY, JAN 1,647.63 13,181.04 200.00 50.00 1,397.63
R 37 3/84 KING, ARNOLD D. 1,522.37 12,178.96 325.00 75.00 1,122.37
R 54 5/89 KING, ARVIL 1,711.21 13,689.68 130.00 50.00 1,531.21
V 12 3/60 LANE, HOPE MRS 109.27 874.16 109.27
R 13 10/67 LAYER, MERLIN 456.22 3,649.76 456.22
R 173 12/03 LEDBETTER, DENNIS 3,775.80 30,206.40 650.00 200.00 2,925.80
V 181 10/04 LEE, VIOLA LOUISE 109.27 874.16 109.27
R 51 10/88 LEWIS, CHARLES 1,647.63 13,181.04 75.00 25.00 1,547.63
R 40 9/85 LOGUE, PAUL D. 2,868.28 22,946.24 325.00 75.00 2,468.28
R 50 9/88 MASON, LARRY 1,631.25 13,050.00 137.61 25.00 1,468.64
R 39 4/85 MC ARTHUR, RONALD A. 1,753.74 14,029.92 150.00 50.00 1,553.74
V 35 2/82 MC CHRISTIAN, DWAYNE 109.27 874.16 109.27
R 15 4/77 MC WHORTER, CHARLES 1,334.51 10,676.08 150.00 1,184.51
R 29 8/81 MILLER, DONALD 1,304.07 10,432.56 125.00 25.00 1,154.07
R 73 2/00 MILLER,KENNETH 3,180.02 25,440.16 325.00 75.00 2,780.02
V 42 2/86 MOORE, JAMES H. 109.27 874.16 109.27
V 176 4/04 MORRIS, DIXIE E. 125.66 1,005.28 125.66
V 62 10/68 MORRISON, ELIENE, Deceased 7/10/06 0.00 956.13 956.13
R 48 7/88 MULLENS, DENNIS W. 2,191.30 17,530.40 21191.30
R 184 3/05 NAPIER, LONNIE 3,518.28 28,146.24 110.00 88.00 3,320.28
R 46 5/88 OSBURN, TROY 1,899.66 15,197.28 200.00 38.00 1,661.66
R 81 02/01 PHILLIPS,LARRY 2,765.09 22,120.72 2,765.09
R 53 2/89 POAGE, LARRY 2,346.70 18,773.60 300.00 100.00 1,946.70
R 186 06/05 REAGAN, PETE 3,535.71 28,285.68 3,535.71
V 22 4173 REED, JOE 109.27 874.16 109.27
S 172 12/03 SCHADER, MADGE 1,386.01 11,088.08 1,386.01
R 41 9/85 SCHADER, TROY 1,524.99 12,199.92 57.00 25.00 1,442499
R 190 04/06 SHACKELFORD, GLEN 3,647.18 14,588.72 400.00 200.00 3,047.18
S 83 03/01 SKELTON, KIMBERLY 2,434.98 19,479.84 250.00 50.00 2,134.98
S 66 8/98 SKELTON, PAULINE, Deceased 12/30/05 0.00 0.00 0.00
R 36 5/76 SPRINGSTON, CARL 806.19 6,449.52 70.00 17.00 719.19
S 90 03/02 STOUT, IMOGENE W. 767.80 6,142.40 767.80
R 165 12/02 TATE, RALPH 3,668.10 29,344.80 300.00 100.00 3,268.10
V 65 3/66 TUNE, BILLIE SUE 136.59 1,092.72 136.59
V 27 3/71 TUNE, MILDRED MRS. 136.59 1,092.72 136.59
R 71 1/00 WARFORD,THOMAS 2,502.72 20,021.76 300.00 2,202.72
R 28 7/68 WATTS, DONALD 437.09 3,496.72 437.09
R 88 01/02 WOOD,RONNIE D 3,077.15 24,617.20 800.00 200.00 2,077.15
R 52 9/88 WRIGHT, RANDALL 1,691.34 13,530.72 200.00 25.00 1,466.34
109,441.69 845,279.49 0.00 10,954.94 2,974.82 95,511.93
7/19/2006 K:\Fire Pension\Pension ListXPension List 20061080106 WM
DATE OF Regular Mo Year To Date Future
EMP#RETIREMENT NAME Benefit Reg Benefit Supplement Fed Tax St Tax Net
DROP DATE DROP EMPLOYEES NEW BENEFITS
03/01/03 MAHAN, MARSHALL 4,077.28
03/01/03 PIERCE, JOEY 3,647.18
04/01/03 O'NEAL, TEDDY 4,120.99
WE, THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE
JUST AND CORRECT; THAT NO PART THEREOF HAS BEEN PREVIOUSLY PAID; THAT
THE PENSION PAYMENTS SO CHARGED ARE IN ACCORDANCE WITH THE ACTIONS OF
THE BOARD OF TRUSTEES OF THE FIREMEN'S RELIEF AND PENSION FUND; THAT
THE SERVICES OR SUPPLIES FURNISHED, AS THE CASE MAY BE, WERE ACTUALLY
RENDERED OR FURNISHED; AND THAT THE CHARGES MADE THEREFORE DO NOT
EXCEED THE AMOUNT ALLOWED BY LAW OR THE CUSTOMARY CHARGE FOR SIMILAR
SERVICES OR SUPPLIES
SECRETARY CHAIRMAN AND PRESIDENT
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF 2006.
NOTARY PUBLIC
MY COMMISSION EXPIRES :
7/18/2006 K:\Fire Pension\Pension List\Pension List 2006\080106 WM
Eliene Sweetser -
Morrison Eliene Sweetser
Eliene Sweetser. Morri-
son, 90, lifetime resident of Morrison'
;Fayetteville died Monday, July Eliene Sweetser Morri
10, 2006, at son, 90,`lifetime resident of',
North Hills Fayetteville died Monday,July
Life Care & 10, 2006, at
! Rehabilita- Nortli .Hills
tion Center. Life Care &
She was Rehabilita-
born Feb. tion Center:
17, 1916, in She was
Fayetteville, Morrison. born " Feb.`
the daugh- 17, 1916, in
ter of William Ryder and Fayetteville, Morrison '
Emily 'Little Sweetser. She the daugh
was preceded in death by her i ter of William Ryderands
husband, Doyle E."Morrison, Emily:Little Sweetser. Shed.
in 1993, three brothers and was preceded in death by her'%
four sisters. husband, Doyle E. Morrison, .
She was a homemaker and a in 1993; three brothers-ands'
- I"longtime member of,the First` four sisters.
:,Baptist Church in Fayetteville, She was a homemaker and ,
where she worked in the nurs- longtime member of the First;
pry department for more than Baptist Church in Fayettevillet
40 years. She was a member` where she worked in, he.nurs-
of the Eastern Star,University' ery department for more thane
Chapter 495: 40 years. She was a member
She is survived by a son, of the Eastern Star,University '
"D.E. "Ed" Morrison Jr and his Chapter 495:
wife Patricia.of Fayetteville; a ` She is survived by a son;
daughter, Dr. Martha Morri- D.E. "Ed" Morrison Jr..and 74
son Talbott and her husband i, wife Patricia,of Fayetteville; a`
Douglas of Avondale Estates, daughter, Dr. Martha Morri'=
Ga.; two grandsons, Doyle E. son Talbott and her husbandt
"Tray" Morrison III and his Douglas.of Avondale Estates; .
wife Susan of West Fork and ` Ga.; two grandsons, Doyle" ; 'i
ohn James Morrison and his s "Tray". Morrison III and hls
e Rev Trina Bell of Bartlett, wife Susan of West Fork an
Tenn.; four great-grand daugh- ; John James Morrison and hist;:
� ters, Machaela Lorraine,
wife Rev. Trina Bell of Bartlett; r:
Arianna Stephens, and Teagan Tenn:; four great-granddaugh-
Rae, all of West Fork and Anna ters, Machaela Lorraine,
Kathryn of Bartlett, Tenn. Arianna Stephens, and Teagan
Visitation'will be from 9:30 Rae, all of West Fork and Anna .;
to 11 a.m: Friday followed by Kathryn of Bartlett, Tenn. :`
„ a service at R a.m. at Moore's Visitation will be from
�
Chapel in Fayetteville, online to 11 a.m. Friday followed by
at wwwmooresfuneralchapel. a service at 11 a.m. at Moore's
com. Chapel in Fayetteville, online
Dr.Jere D. Mitchell and Dr. at wwwmooresfuneralchapel `>
V, Andrew M. Hall will offici- com..
ate. Dr.Jere D: Mitchell and Dr.
k
Burial will ;be in National Andrew M. Hall will offici-
L, 'Cemetery at Fayetteville. ate:
Memorials may be made Burial will be in National
to the Fayetteville Public Cemetery at Fayetteville. .
Library Foundation,' 401`W. Memorials may be made
Mountain St:, Fayetteville, to the Fayetteville 'Public
72701 or First Baptist Church Library Foundation, 401 W
Children's Program, P.O. Box j. ,Mountain St., Fayettevihe,
1 `906, .Fayetteville, 72702 or 72701 or First Baptist Church.'
Children's Pro ram; P.O. Box `
�, Washington;Regional Hospice, g
34 W. 'Colt Square, Suite 1,, 906, Tayetteville,;.72702 or
Fayetteville, 72703. { ,Washington Regional Hospice;':
`Paid 34 W. 'Golf Square, Suite 1,
Fayetteville, 72703:
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-PR ARKANSAS FIRE & POLICE PENSION REVIEW BOARD
620 W. 3rd, Suite 200
Little.Rock, Arkansas 72201-2212
Telephone: (501) 682-1745
To: Board of Trustees Toll-Free: (866) 859-1745
FAYETTEVILLE Fire Pension and Relief Fund Fax: (501) 682-1751
email: info@lopfi-prb.com
Froin: David B. Clark website: www.lopfi-prb.com
Executive Director
'Re: 2005 Actuarial Valuation
Date: July 3, 2006
In accordance with State law the actuary under contract to this office periodically tests all
local fire and police pension fiends for actuarial soundness. The 2005 actuarial study for
your fund is enclosed. The financial tests for the fund are designed to answer the
following questions:
YES NO
1. Is there enough income to the pension
-fund to fully fund it (see page 4)?
2. - Are current assets sufficient to cover 97%
of all accrued actuarial liabilities (see page 10),
OR are there enough assets to cover all active -
member contributions, all payments to current
beneficiaries and 100% of future payments
earned by active members (see page 11)?
/or
3. Is the pension fund considered actuarial
sound under State law?
SCANNED
FAYETTEVILLE FIREFIGHTERS PENSION FUND
ACTUARIAL VALUATION
AS OF DECEMBER 31, 2005
Osborn, Carreiro Associates, Inc. One Union Nationei Piam,Suke 16W
124 west Capita Avenue
` ACTUARIES • CONSULTANTS • ANALYSTS
Little Rock. Arkansas 722ot.
i (501)376-8043
June 301, 2006
Board of Trustees
Fayetteville Firefighters Pension Fund
Gentlemen:
This report presents the results of our actuarial valuation of the assets and liabilities of the
Fayetteville Firefighters Pension Fund as of December 31, 2005.
This valuation is required by Arkansas Code Annotated 24-11-205. The purpose of this report is to
(1) evaluate the actuarial status of the Fund, (2) determine the level contribution requirement needed,
(3)review the development of the Fund over the past several years, and (4)present certain actuarial
items on page 9 for disclosure under Governmental Accounting Standards. This report is not
intended for any other purpose.
The member and financial information used in this report was supplied by the Arkansas Fire &
Police Pension Review Board. We did not audit this information, although we did review it for
reasonableness and consistency.
I certify that this report has been prepared in accordance with generally accepted actuarial principles
and practices. In myopinion, the actuarial methods used are appropriate and the actuarial
assumptions produce results which, in the aggregate, are reasonable.
Sincerely,
Steve
Steve Osborn, F.S.A., MA.A.A.
Actuary
i
I
{
3
TABLE OF CONTENTS
EXHIBIT 1 CONTRIBUTIONS
EXHIBIT 2 COST AND LIABILITIES
EXHIBIT 3 SUMMARY OF FINANCIAL INFORMATION
EXHIBIT 4 COMPARISON WITH PRIOR YEARS
EXHIBIT 5 SHORT CONDITION TEST
EXHIBIT 6 EMPLOYEE AND RETIREE PROFILES
EXHIBIT 7 PRINCIPLE PROVISIONS OF THE PLAN
EXHIBIT. 8 ACTUARIAL METHODS AND ASSUMPTIONS
f
EXHIBIT 1
CONTRIBUTIONS
The following contribution level reflects the payment of the current year Normal Cost for benefits attributable
to said year (see Ex1u`bit 2)plus an amount sufficient to pay Off Unfunded Actuarial Liability over a 5-year
period. These costs DO NOT include the contributions due to the Local Police and Firefighters Retirement
System MOM") for persons hired after 1982.
Full Volunteer or
Paid Part-Paid Total
2006 Necessary Annual Contribution to pay-
1 Normal Cost, plus $ p $ 0 $ 0
2 Pay off the Unfimded Actuarial
Accrued Liability 22095,694 182412 2,114,106
3 Total necessary $ 2,095,694 $ 18,412 $ 2,114,106
Less
4 Expected Employee Contribution _ 0 _ 0 _ 0
(6.00% of salary. $12 per active volunteer)
Necessary Employer Contribution $ 2,095,694 $ 18,412 $ 2,114,106
(This is the amount needed in
addition to investment income)
Covered.Payroll $ 0 N/A $ 0
Necessary Employer Rate N/A $ N/A N/A
These contributions assume that the dollar contribution grows at a rate of 4%per year. The contributions are
assumed to be made continuously throughout the year.
The actual 2005 contribution was $611,786 from the employer.
4
i
i '
3 - -
i
EXHIBIT 2
COSTS AND LIABILITIES
December 31, 2005
A Normal Cost Dollar Percent
(Cost to fund current active members) Amount of pav
1 Regular Retirement Benefits $ 0 N/A `
k:
2 Voluntary Termination Benefits 0 N/A
3 Survivors' Benefits 0 N/A
4 Disability Benefits 0 N/A
TOTAL
$ 0 N/A
B Actuarial Accrued Liability
1 Active Lives
Regular Retirement Benefits $ 0
Voluntary Termination Benefits 0
Survivors' Benefits 0
Disability Benefits 0
TOTAL ACTIVE LIVES $ 0
2 Deferred Retirement Option
DROP Accounts $ 989,000
Future DROP Payments &Pensions 423623,179
TOTALDROP $ 5,351,179
3 Inactive Lives _
Retirees $ 12,8252128
Disability Retirees 5192450
Widows & Children 13423,840
TOTAL INACTIVE LIVES $ 141,768,418
4 Total Liability $ 20,119,597
C Assets $ 10,243,228
D Unfunded Actuarial Accrued Liability $ 91,8763,369
5
}
EXHIBIT 3
SUMMARY OF FINANCIAL INFORMATION
(Items D E, and G determined by Osborn, Carreiro and Associates, Inc.)
Year Ended Year Ended Year Ended
A. INCOME 12/31/2003 12/31/2004 12/31/2005
1 Employee Contributions $ 32,150 $ 25,393 $ 23,439
2 Employer Contributions
- Employer/Court Fines/Other 64,299 532730 46,878
Insurance Tax 412,688 1853,445 2251,492
LocallViillage 2743,856 2953409 339,416
3 Other Income
Guarantee Fund 0 0 0
LOPFI Subsidy 0 0 0
Police Supplement (Act 1452 of 1999) 0 0 0
Future Supplement(Act 1373 of 2003) 11,488 16,661 24,480
Other Income/Donations 600 121 176
Adjustment to prior year 0 0 0
asset value
4 Net Investment Income 362,273 707,864 522,344
TOTAL INCOME $ 1,158,354 $ 1,2841623 $ 1,1822225
B. EXPENSES
1 Administrative $ 4,700 $ 3,929 $ 55-886
'2 Benefits Paid
Monthly Benefits 922,413 11,005,154 1,0971427
Police Supplements 0 0 0
Future Supplements 1%789 16,349 24,390
DROP Payouts 222,794 386,725 458,082
3 Refunds 0 0 0
TOTAL EXPENSES $ 12160,696 $ 11,412,157 $ 125852785
6
EXHIBIT 3 (Continued)
C ASSETS (at book value} 12/31/2003 12/31/2004 12/31/2005
I Cash &Checking Accounts $ 0 $ 0 $ 0
2 Bank Deposits 54,188 17,477 48,506.
3 Savings and Loan Deposits 0 0 0
4 Other Cash Equivalents 6249821 226,072 234,940
5 US Govt. Securities 2,2981986 3,151,144 3,441,988
6 Non-US Govt Securities. 0 0 0
7 Mortgages 0 . 0 0
8 Corporate Bonds 9449659 841,592 533,910
9. Common Stocks 527543311 5,3069194 498739882
10 Other 455199 52,151 57,944
11 Payables 0 0 (100)
TOTAL ASSETS $ 9,7222164 $ 92594,630 $ 92191,070
D. RATIO OF ASSETS TO
ANNUAL EXPENSES: 8.4 6.8 5.8
E. NET INVESTMENT RETURN: 3.8% 7.6% 5.7%
(Book Value Basis)
7
1
4
3
Exhibit 3 (Continued)
12/31/2001 12 1 002 12/31/2003 12/31/2004 12/31/2005
F. TOTAL MARKET VALUE
1. Market Value, end of year 11,403,332 9,735,746 10,625,689 10,373,147 9,636,034
(Used for GASB calculations,page 9)
2. Market Value,beginning of year 12,612,911 11,403,332 9,735,746 10,625,689 10,373,147
G. DEVELOPMENT OF ACTUARIAL VALUE OF ASSETS
1. Actuarial Value of Assets, beginning of year 12,933,635 12,920,018 12,167,732 11,936,658 11,133,207
2. Non Investment Net Cash Flow (547,867) (808,234) (364,615) (835,398) (925,904)
3. Development of Investment Income
(a) Total Market Investment Income(Fl-F2-G2) (661,712) (859,352) 1,2542558 582,856 188,791
(b) Amount for Immediate Recognition (6% Gl) 776,018 775,201 730,064 716,199 667,992
(c) Amount for Phased In Recognition (a-b) (1,437,730) (1,634,553) 524,494 (133,343) (479,201)
(d) .Phased In Recognition
Current year: 20%of 3(c) (287,546) (326,911) 104,899
(26,669) (95,840)
First Prior Year (148,026) (287,546) (326,911) 104,899 (26,669)
Second Prior Year 61,061 (148,026) (287,546) (326,911) 1041899
Third Prior Year (17,832) 61,061 (148,026) (287,546) (326,911)
Fourth Prior Year 150,575 (17,832) 61,061 (148,026) (287,546)
Total Phased In Recognition (241,768) (719,254) (596,523) (684,253) (632,067)
(e) Actuarial Value Investment Income 534,250 55,947 133,541 31,947 35,926
(3(b)+3(d) )
4. Actuarial Value of Assets, End of year
( I +2+3(e)) 12,920,018 12,167,732 11,936,658 11,133,207 10,243,228
5. Net Investment Return on the 4.2% 0.4% 1.1% 0.3% 0.3%
Actuarial Value of Assets
Note: The Pension Review Board's Board Rule#11 first applies this methodology to determine the Actuarial Value
of Assets for the 12/31/99 actuarial valuation report. Different methods were used to determine the Actuarial
Value of Assets for the 12/31/98 and earlier reports.
8
i -
i
EXI-IIBIT 3 (Continued)
ACCOUNTING INFORMATION
This page is included to provide the information required by the Governmental Accounting Standards Board
Statement No. 25 and 27. The values below are based on the assumptions contained in Exhibit 8.
The Annual Pension Cost disclosed in this exhibit will almost always differ from the actual cash contribution to
the fund. We must emphasize that these disclosures are shown in the city's financial statements; Sound
actuarial projections should be used to determine the actual cash contribution requirements.
RECONCILIATION OF NET PENSION OBLIGATION (NPO)
2004 2005 2006
1. Actuarially Requited Contribution 1,9962348 12996,348 29244,081
2. Interest on NPO (24,228) 67,207 .139,936
3. Adjustment to (1) (86,381) 239,618 4982924
4. Annual Pension Cost (1)+{2}(3) 2,0589501 1,823,937 1,885,093
5. Actual Contribution Made 5349584 611,786
6. Increase in NPO (4)-(5) 1,5235917 1,212,151
7. NPO Beginning of Year (403,796) 191201,122 2,332,273
8. NPO End of Year 1,120,122 2,332,273
REQUIRED SUPPLEMENTARY INFORMATION
(a) (b) (e) (d) (e) (fl (g)
Unfunded
Entry Age Accrued UAL as a %
Actuarial Market Actuarial- Liability . Funded Annual of Covered
Valuation Value of Accrued (UAL) Ratio Covered Payroll
Date Plan Assets Liability (c){b} (b)/(c) Payroll
12/31/1997 1192253602 " 121,0932450 867,848 92.8% 608,602 142.6%
12!31/1999 12,8809300 12,940,843 60,543 99.5% 367,188 16.5% -
12/31/2001 11,403,332 17,239,942 59836,610 66.1% 234,765 2486.1%
12/31/2003 10,625,689 19,833,848 99208,159 53.61% 52,016 17702.7%
12/31/2005 9,636,034 20,119,597 10,4832563 47.9% 0 N/A
* Note: For volunteer/part paid members, Annual Covered Payroll is $200 for such
active members
9
1
EXHIBIT 4
COMPARISON WITH PRIOR YEARS
This exhibit compares current valuation results with those of prior years.
Full Paid Actuarial Computed
Active Members Employer Contribution Total Plan
Unfunded Normal
Valuation Annual Percent Dollar Actuarial Cost Funded
Date No. Payroll of Pay Amount Assets Liability Percent Percent
12/31/1984 45 8072438 27.7% 223,455 3,0782619 1,193,660 22.1% 72.1%
12/31/1986 37 723,894 29.6% 213,935 4,006,484 1,379,340 21.8% 74.4%
12/31/1987 * 38 788,348 31.3% 246,479 4,460,948 11455,161 23.4% 75.4%
12/31/1989 . 27 6392962 36.0% 230,328 5,1892846 1;976,463 26.6% 72.4%
12/31/1991 23 585,898 33.3% 195,273 5,999,964 1,4273,422 25.5% 80.8%
12/31/1993 22 620,116 25.2% 156,484 7,2712255 5449779 25.4% 93.0%
12/31/1995 * 21 6762847 25.6% - 173,401 8,8970591 1489392 29.8% 98.4%
12/31/1997 * 17 608,602 55.9% 339,974 10,7971686 11295,764 38.0% 89.3%
12/31/1999 10 367,188 53.7% 197,315 12,352,474 588,369 37.7% 95.5%
12/31/2001 * 6 234,765 405.5% 952,076 12,920,017 42319,925 55.4% 74.90/0
12/31/2003 * 1 52,016 3270.0% 1,700,905 11,936,657 71897,191 54.6% 60.2%
12/31/2005 * 0 0 0.0% 2,095,694 10,2432228 9,876,369 0.00/0 50.9%
*Benefits or assumptions changed
Note Normal cost prior to 12/31/89 is net of 6% employee contributions.
Part-Paid/ Actuarial
Volunteer Computed
Valuation Active Employer
Date Members Contribution
v.
12/31/1984 1 274
12/31/1986 0 0
12/31/1987, * 0 0
12/31/1989 0 0
12/31/1991 0 .0
12/31/1993 0 0
12/31/1995 *. 0 0
12/31/1997 * 0 0
12/31/1999 0 0
12/31/2001 * 0 3,123
12/31/2003 * 0 14,8.07
12/31/2005 * 0 18,412
10
EXHIBIT 5
SHORT CONDITION TEST .
The Arkansas General Assembly has stated that the funding objective for these plans is to pay for benefits
with contributions that remain level as a percentage of employee payroll. Thus,the long-term condition
test is met when the actual contributions are fairly level and are paid when due.
A short condition test can be used to measure a plan's progress. Under the short condition test, the fund's
assets are compared with:
1) Active member contributions;
2) The liabilities for future benefits to the present retirees and inactive members;
3) The liabilities for service already rendered by active members.
If the plan has been following level cost funding, liability (1)and liability (2) above will almost always be .
fully covered by the rest of the present assets. In addition, liability (3) above will at least partially fended.
The larger the funded portion of liability (3),the stronger the condition of the find.For a closed fund i.e.,
one like yours,where no new members are admitted), the fiuided portion of liability (3) should be steadily
increasing.
The following table illustrates the history of the short condition test for this plan:
Computed Actuarial Liabilities Portion of Liabilities
covered by Assets
(1) (2) (3)
Active Retirees, Actives- ..
Valuation Members Inactives, Employer Valuation
Date Contributions and DROPS Financed Assets (1) (2) (3)
12/31/1984 236,541 15,464,696 22571,042 3,078,619 100% 1009/6 54%
12/31/1986 2631,129 21753,772 2,3682923 410062484 100% 100% 42% .
12/31/1987 3082829 2,754,276 228533,004 43,4602948 100% 100% 49%
12/31/1989 274,405 4,560,672 2,331,232 5,189,846 100% 100% 15%
12/31/1991 292,477 59072,169 22062,740 5,9992964 100% 100% 31%
12/31/1993 353,891 5,005,131 23,457,012 732713255 100% 100% 78%
12/31/1995 418,412 5,1012995 3,5252576 82897,591 100% 100% 96%
12/31/1997 401,937 73,315,705 41375,808 101,7979686 100% 160% 70% p'
12/3.1/1999 267,239 -10,0171182 2,656,422 12,352,474 100% 100% 78%
12/31/2001 1712157 14,565,274 2,503,511 12,920,017 100% 88% 00/0
12/31/2003 33,201 19,228,546 5721,101 111936,657 100% 62% 0'/0
12/31/2005 0 20,119,597 0 102243,228 100% 51% 00/0
Exhibit 6
Employee Profile
Employee data needed for the valuation was obtained from the records furnished by
the Arkansas Fire and Police Pension Review Board. The following table shows a
detailed breakdown of the present participants by the number of participants and
total salary.
Actives
Years of Service
30 and
Age 0=5 5-10 10-15 15-20 20-25 253O Over Total
Under Count 0 0 0 0 0 0 0
25 Salary 0 0 0 0 0 0 0
25-29 Count 0 0 0 0 0 0 0
Salary 0 0 0 0 0 0 0
-30-34 Count 0 0 0 0 0 0 0
Salary 0 0 0 0 0 0 0
35-30 Count 0 0 0 0 0 0 0
Salary 0 0 0 0 0 0 0
40-44, Count 0 0 0 0 0 0 0
Salary 0 0 0 0 0 0 0
45-49 Count 0 0 0 0 0 0 0
Salary 0 0 0 0 0 0 0
50-54 Count 0 0 0 0 0 0 0
Salary 0 0 0 0 0 0 0
55-59 Count 0 0 0 0 0 0 0
Salary 0 0 0 0 0 0 0
60-64 Count 0 . 0 0 0 0 0 0
Salary 0 0 0 0 0 0 0
65 & Count 0 0 0 00 0 0
Over Salary 0 0 0 0 0 0 0
Unknown Count 0 0 0 0 . 0 0 0
AM Salary 0 0 0 0 0' 0 0
Total Count
Salary
12
Exhibit 6
Employee Profile
Employee data needed for the valuation was obtained from the records furnished by the
Arkansas Fire and Police Pension Review Board The following table shows a detailed
breakdown of the present participants by the number of participants.
Volunteers/Part-Paid Actives
Years of SerWce
30 and
Age 0-5 5-10 10-15_ 15-20 20-25 25-30 Over Total
Under Count 0 0 0 0 0 0 0
25
25-29 Count 0 0 0 0 0 0 0
30-34 Count 0 0 0 0 0 0 0
35-39 Count 0. 0 0 0 0 0 0
40-44 Count 0 0 0 0 0 0 0
45-49 Count 0 0 0 0 0 0 0
50-54 Count 0 0 0 0 .0 0 0
55-59 Count 0 0 0 0 0 0 0
60-64 Count 0 0 0 0 0 0 0
65 & Count 0 0 0 0 0 0 0
Over
Unknown Count 0 0 0 0 0 0 0
Age
' Total Count
13