HomeMy WebLinkAboutCity Council Committees - Fireman's Relief and Pension Board - 01/04/2005 KENT
Firemen's Relief & Pension Board
January 4, 2005
Board Members Present: Jim White, AI Bond, Brenda Jacober
Others Present: Bonnie Fell, Brigitte Hoopes
Mayor White called the meeting to order at 3:35 p.m.
Minutes of Previous Meeting. Bond moved to adopt the minutes of October
5, 2004. White seconded and the motion carried.
Financial Transactions. Fell distributed copies of the monthly financial reports
for September, October and November 2004. She noted that the fund has
remained stable and that the balance is $3,641,000. Bond moved to accept the
financial transactions as presented, Jacober seconded, and the motion carried.
Alternate Board Position. Bond stated that recruitment continues and that he
will give a report at the next meeting.
Other Business — Actuarial Study. Fell noted that the actuarial study has
been received and that it shows a healthy position and excess funds which will
result in a very favorable position for the GASB 45. She explained that the GASB
45 is on other post retirement benefits and must be done by the beginning of
2007. The study will likely be conducted in late 2006 or early 2007 for the city to
be in compliance. It was noted that the actuarial study is available for perusal in
the City Clerk's Office and that copies can be made upon request.
Other Business — Contract. Hoopes noted that the Firefighters have not
settled their contract so there will be no increase at this time. It was agreed that
a special meeting of this Board will be called as soon as the contract is settled.
Adjournment. There was no further business to come before the Board, and
the meeting adjourned at 3:45 p.m.
B2e� �a � n
Brenda Jacober, CMC
City Clerk