HomeMy WebLinkAboutCity Council Committees - Fireman's Relief and Pension Board - 01/04/2011 i
OE Firemen's Relief & Pension Board
January 4, 2011
Board Members Present: Les Thomas, Sam Grubbs, Al Bond, Brenda Jacober
Others Present: Bonnie Fell
Thomas called the meeting to order at 3:34 p.m. and introductions were made.
Minutes of October 5, 2010. Grubbs moved to approve the minutes of October 5,
2010. Bond seconded and the motion carried.
Financial Transactions for September, October, and November 2010.
There were no questions and Grubbs moved to accept the September, October, and
November 2010 financial transactions. Bond seconded and the motion carried.
Investment Policy Ordinance Update. Fell reported that the Investment Policy
Ordinance is still in development in the City Attorney's Office and agreed to check on it
again. She will provide any information she receives to the City Clerk, who will forward it
on to the Boardmembers.
Excess Pension Benefits. Fell said that the base rate for the firefighters' contract is
still being negotiated, but that no wage changes are anticipated,
She agreed to give an update at the next meeting.
Cost of Living Allowance. Fell noted that any COLA will be effective April 1, 2011, and
that information on it will not be available until late March.
Actuarial Study. Fell stated that the cost to have a representative from Milliman give a
presentation would be $355 per hour, and for that reason she prepared a summary of the
recently completed Study. Boardmembers agreed that the information in Fell's summary
is adequate.
Next Meeting Date. It was noted that the next regular meeting of this Board will be on
Tuesday, April 5, 2011,
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Adjournment. The meeting adjourned at 3:40 p.m.
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Brenda Jacober, CMC!J
Boardmember/City Clerk