HomeMy WebLinkAboutCity Council Committees - Fireman's Relief Pension Board - 07/17/2018 (2)Firemen's Relief and Pension Board
Minutes
July L7, 2018
Kent, Washington
Approved October 16, 2018
BOARD MEMBERS PRESENT: Board Chair, Mayor Dana Ralph, Bill Boyce,
attending in the place of Les Thomas, Chair of the Operations Committee, board
members Al Bond and Kim Komoto, Secretary.
STAFF MEMBERS PRESENT: Aaron BeMiller, Finance Director, Lavina Brennecke,
Accounting and Reporting Manager, and Susanne Shaw, Senior Financial Analyst
1. Call to Order
The meeting was called to order at 3:32 p.m., with Committee Chair Mayor Ralph
presiding.
2. Roll Call
Mayor Dana Ralph- Present
Councilmember Les Thomas - Excused Absence
Bill Boyce - Attending in the place of Les Thomas
Kim Komoto - Present
Al Bond - Present
Sam Grubbs - Absent
3. Changes to the Agenda
Al Bond moved to approve the agenda as presented, seconded by Kim Komoto.
The motion passed unanimously with a vote of 4-0.
4. Aoproval of Minutes, dated Aoril 17, 2O18
Al Bond moved to approve the minutes dated April L7, 2OL8, and Kim Komoto
seconded the motion.
The motion passed unanimously with a vote of 4-0.
5. 2nd Quarter 2O18, Financial Reoort
Lavina Brennecke, Accounting & Reporting Manager, provided details regarding the
Executive Summary for Cash and Investments as of June 30, 2018, and the
Statement of Revenues and Expenses as of June 30, 2018.
Brennecke reviewed the Firemen's Relief and Pension Trust Fund #620 Cash and
Investments ending June 30, 2018, that also included a five-year comparison.
Brennecke provided details regarding the full version of the actuary study that is
required every other year. The full study costs around $11,825, where the minor
study costs around $3,000.
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Firemen's Relief and Pension Board
Minutes
July L7, 2018
Kent, Washington
Approved October 16, 2018
6. CPI Increase for Retiree of Off-Duty Disabled - Information Onlv
Susanne Shaw, Senior Financial Analyst, advised that there is one pension member
that has received a 3.48o/o CPI increase.
7, W-4P Rules
Brennecke advised that the new W-4P rules now require the City to send out W-4P
forms annually to members.
8. Adiournment
At 3:41 p.ffi., Chair, Mayor Ralph eclared the meeting adjourned.
Kimberley A.
Firemen's Re
July L7,2018
moto
and Pension Board Secretary
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