HomeMy WebLinkAboutCity Council Committees - Fireman's Relief and Pension Board - 05/01/2012 (3) KENT Firemen's Relief & Pension Board
May 1, 2012
Board Members Present: Suzette Cooke, Sam Grubbs, AI Bond, Les Thomas,
Brenda Jacober. Others Present: Susanne Shaw
Mayor Cooke called the meeting to order at 3:36 p.m.
Minutes of January 3, 2012. Grubbs moved to approve the minutes of January 3,
2012, as written. Bond seconded and the motion carried.
Financial Transactions for December 2011, January 2012 and February 2012.
Bond and Grubbs expressed appreciation for the financial analysis. Shaw noted that
there was a 22% increase in the 2011 year to date revenues over 2010. Grubbs
moved to accept the December 2011, January 2012, and February 2012 financial
transactions. Bond seconded and the motion carried.
Investment Policy Ordinance Update. It was determined that Thomas will follow
up with Bonnie Fell on this issue.
Actuarial Study. Shaw announced that there is only one firm who will do a study
this size, and that their fee is the same as last time, which is $7,825, Grubbs moved
to proceed with the actuarial study. Bond seconded and the motion carried.
Cost of Living Allowance, LEOFF. Shaw reported that LEOFF has given a 3.17%
COLA increase which changes the City's obligation to retirees in the amount of
$572.92 on a semi-monthly basis,
Board Position No. i Election. Jacober noted that a request for nominations to fill
the two-year term currently held by Sam Grubbs has been sent out, that today is the
deadline for submissions, and that an election will now be held by mail.
Other Business. It was noted that the next regular meeting is scheduled for July
3rd, the day before a holiday, but that the meeting should be held as usual since
there will most likely be a quorum in attendance.
Upon a question from Grubbs, Shaw agreed to check into who has the authority to
enhance benefits such as dental coverage.
Adjournment. The meeting adjourned at 3:50 p.m.
Brenda Jacober, CMC
Board Member/City Clerk