HomeMy WebLinkAboutCity Council Committees - Fireman's Relief and Pension Board - 08/03/2004 I
KENT
Firemen's Relief & Pension Board
August 3, 2004
Board Members Present: Al Bond, Jim White, Sam Grubbs, Brenda Jacober
Others Present: Bonnie Fell
Mayor White called the special meeting to order at 3:40 p.m.
Actuarial Study. Fell distributed copies of information on the 2004 actuarial
study, and explained that the cost has increased 36% over the study done two
years ago by the same company. She said the cost for the study this year will be
$4,850, and gave a breakdown of the costs. Bond moved to approve spending
funds to have the actuarial study done as soon as possible. Grubbs seconded
and the motion carried. White pointed out that the studies are required only
once every five years, and suggested that Finance analyze whether the study
should be done less frequently. Fell said the studies may have been done every
two years in the past because of higher interest rates, and because there were
more members working at that time.
Adiournment. The meeting adjourned at 3:45 p.m.
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Brenda Jacober, C
City Clerk