HomeMy WebLinkAboutCity Council Committees - Fireman's Relief and Pension Board - 04/13/1999 h
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Firemen' s Relief & Pension Board
April 13 , 1999
Boardmembers Present : Mayor White, Mary Berg, Brenda
Jacober, Alternate Gene Grenstad
Others Present : John Hillman, Brigitte Hoopes
The Mayor called the meeting to order at 4 : 05 p.m.
Approval of Minutes. Berg moved to approve the minutes of
March 9, 1999, as published. Grenstad seconded and the
motion carried.
Approval of February Financial Transactions . Hillman
distributed copies of the financial statements for February
and noted that mutual funds growth dropped a bit in
February but had increased approximately 2% since December.
He added that treasury bills purchased in 1991 were
reinvested at 5% . Berg moved to accept the financial
report . Grenstad seconded and the motion carried.
Election. Jacober noted that Berg' s term on the Board will
soon expire, and it was agreed that a letter requesting
nominations would be sent to members . It was also clarified
that Board meetings must be held in City Hall . Berg noted
that only two people under this pension system are still
working, and the Mayor suggested that research he done as
to how this will be handled in the future .
Other Business - Senate Bill 5102 . Berg explained that 45%
of the state fire insurance premiums is disbursed to
various pension funds, and that Senate Bill 5102 would
reduce that amount to 25%, with the difference going to
fire protection services to fund fire service training and
to increase the volunteer firefighters pension. It was
clarified that this would not have a big impact on Kent .
Other Business - Comparison of Benefits. Hoopes distribu-
ted copies of and explained the April 1, 1999 Comparison of
Benefits .
Adjournment. The meeting adjourned at 4 : 22 p.m.
j Brenda Jacober/ CMC
City ClerkAB rdmember