HomeMy WebLinkAboutCity Council Committees - Fireman's Relief and Pension Board - 04/03/1996 h
Firemen' s Relief & Pension Board
April 3 , 1996
Present: Boardmembers Berg, Grenstad and Jacober
Others: Sam Grubbs, Gary Tilley, Brigitte Hoopes,
Laurie Murray
Chief Berg called the meeting to order at 9: 10 a.m.
Approval of Minutes. Grenstad moved to approve the minutes of
the meeting of March 6, 1996. Berg seconded and the motion
carried.
Approval of Financial Transactions. Murray distributed copies of
financial transactions for the month ending February 29, 1996.
Upon Tilley's question, she explained that funds from the recent
annexation will not show up until January 1997, and that the
amount should be approximately 10% more.
Grenstad moved to approve the February financial transactions.
Berg seconded and the motion carried.
Meeting Times. It was noted that Boardmember Johnson is unable
to attend these meetings at 9: 00 a.m. and that he had suggested
either changing the meeting time to 4 : 00 p.m. or having another
member of the Operations Committee attend in his place. Berg
pointed out that State
law requires that the Chair of the Finance
(Operations) Committee be on the Board. It was then agreed that
future meetings of this Board will be held at 4 : 00 p.m. on the
first Wednesday of each month.
CPI Adjustment. Hoopes noted that the Bureau of Labor Statistics
yy:,, publishes figures semi-annually for the previous year. She
V 4% copies ies of documents showing how the percentages have
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been averaged. She noted that this is based on Section 41. 18,
�IK and that Section 41. 26 is used for LEOFF increase in benefits for
July 1st.
Tilley disagreed with the way percentages have been calculated.
He said that the statute says the Board shall look at the
statistics that are supplied and determine what the actual index
increase is. Berg said the entire year from January 1 to
December 31 should be used to determine the percentage of
increase. Tilley explained that the figure from the end of the
first year should be taken from the figure at the end of the
second year and that the difference should then be divided by the
figure from the first year. He said that figures from the wrong
time frames were used last year. He stated that the Board is to
determine the increase, not average the figures as LEOFF does.
He said the figure for 1994 should have been 3 .8, but was 3 . 65%.
He provided copies of statutes and information from the Retired
Firefighters of Washington providing another explanation of how
to calculate the increase.
Berg explained that in determining the latest increase, the
figures to use would be 146 . 5 from the end of 1994 and 150.4 from
the end of 1995, for a difference of 3 . 9, resulting in . 0266211
or 2 . 66% . It was noted that Seattle ' s figure is 2 . 9%, which may
include retro. Hoopes noted that Chuck Turner has used the same
method as she to calculate the increases in the past. Berg said
he is not in favor of making a retroactive change. Tilley agreed
that figures should not be recalculated further back than last
year.
It was clarified that the figure for 1996 has not yet been
established, that the effective date is July 1st, and that
LEOFF's effective date is April 1st. Tilley noted that the Board
must make the determination between March 31 and June 30, to take
effect July 1. It was clarified that the figure will have two
digits after the decimal point, as previously approved.
Berg suggested that the Boardmembers review the information
presented today and vote at the next meeting.
Letter of Appreciation. Gary Tilley presented a letter
expressing congratulations to members of the Board and to City
staff for their efforts and time spent on bringing the Fire
Pension Board up to speed and in line with State statutes.
Tom Foster (Added Item) . Berg noted that Tom Foster had
expressed concern about whether he should be getting paid, and
said he had assured him that he is entitled to the pay. He noted
that Foster is vested in the system and gets total service
credit.
Adiournment. Grenstad moved to adjourn at 9: 50 a.m. Berg
seconded and the motion carried.
Brenda Jacoberj( CMC
City Cler0ordmember
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