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HomeMy WebLinkAboutCity Council Committees - Fireman's Relief and Pension Board - 05/01/1996 Firemen's Relief & Pension Board May 1, 1996 Present: Boardmembers: Berg, Grenstad and Jacober Others: Sam Grubbs, M. A. Findley, Laurie Murray, Susan Narrick Chief Berg called the meeting to order at 4 :05 p.m. Approval of Minutes. Jacober stated that Brigitte Hoopes has requested a correction to the minutes of April 3 , 1996, regarding the CPI Adjustment. She asked that the last sentence of the first paragraph be changed as follows: "She noted that this is based on Section 41. 18, and that Section 41. 26 is used for LEOFF increase in benefits for July 1st. " SHOULD READ "She noted that this is based on Section 41. 18, and that Section 41 . 26 is used by LEOFF for increase in benefits for April 1st. " Berg agreed. Grenstad moved that the minutes of April 3, 1996, be approved as corrected. Berg seconded and the motion carried. Approval of March Financial Transactions. Murray distributed copies of financial transactions as of March 31, 1996 . Narrick noted that a market value sheet has also been included. It was decided that in the future, these financial reports will be mailed out with the agenda, in order to allow more time for review. Berg moved to approve the March financial transactions. Grenstad seconded and the motion carried. CPI Adjustment. Berg stated that it is his understanding that the increase would be calculated by comparing the CPI figure for January 1 (actually December 31 of the previous year) with the CPI figure for December 31, rather than using two six-month periods and averaging them. All agreed. Grenstad moved to approve. Berg seconded. Jacober noted that at the previous meeting, the figure was calculated at 2 . 66%, and that it was pointed out that Seattle's figure was 2 .9% which may include a retroactive amount. It was noted that Kent's increase would not be calculated retroactively, as City staff could not do that and someone from outside would have to be hired. Murray said she will have the figure recalculated and will bring it to the next meeting. It was clarified that the motion is to use December 31, 1994 to December 31, 1995 as the basis for the CPI increase for 1996. Motion carried. April 1 COLA Increases. Murray distributed copies of the comparison of benefits and the salary changes relating to the April 1 COLA increases. She noted that they are already one i i I pay period past the effective date. She explained that everyone owes and that that amount will have to be deducted. She added that those who are not getting paid any more will have to be billed. She noted that they will take 50% from Sid Mickelson until it is paid off. Berg noted that Mrs. Bridge is in a different category and that her amounts may not be figured correctly. He said her amount should go back to just the CPI increase in August, based on when her husband passed away. It was noted that Mrs. Webster is not on the list, that she should be in the same category as Mrs. Bridge, and therefore the information needs to be recalculated. Murray noted that the figures shown on the list have already been put into the payroll system, which runs tonight. She and Berg agreed that adjustments can be made later. Berg moved to approve the adjustments based on an audit and the fact that two of them (Webster and Bridge) may have to be redone. Grenstad seconded and the motion carried. Thomas Foster. Berg noted that Tom Foster had expressed concern about getting paid, and said that after further research and con- sultation with Foster and the City Attorney, it has been determined that he should not be getting paid. Berg provided a letter explaining why Foster does not get paid, and noted that Foster has not cashed the checks yet. Murray noted that the checks should be returned. Berg asked that a letter go out to Foster asking that the checks be returned and Jacober agreed to prepare a letter from the Board. Actuarial Study. Jacober provided copies of a letter written by John Hillman regarding preparation of an actuarial study and the fee for same. This was discussed at the meeting of March 6, 1996. Adjournment. There was no further business and Grenstad moved to adjourn at 4 : 30 p.m. Berg seconded and the motion carried. fp /n 9 f Brenda Jacoberj City C1erkJBoerdmember 2 -