HomeMy WebLinkAboutCity Council Committees - Fireman's Relief Pension Board - 07/18/2017 (2)Firemen's Relief and Pension Board
Minutes
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July 18, 20L7
Kent, Washington
Approved October L7, 2OL7
BOARD MEMBERS PRESENT: Board Chair, Mayor Suzette Cooke, board members
Dana Ralph, Sam Grubbs, and Kim Komoto, Secretary.
STAFF MEMBERS PRESENT: Aaron BeMiller, Finance Director, Suzanne Shaw,
Senior Financial Analyst, and Lavina Brennecke, Accounting and Reporting Manager
ABSENT: Al Bond
1. Call to Order
The meeting was called to order at 3:32p.m., with Committee Chair Mayor Cooke
presidíng.
2. Roll Call
Committee member Al Bond was absent
3. Chanoes to the Aoenda
Sam Grubbs moved to approve the agenda as submitted, and board member Dana
Ralph seconded the motion.
The motion passed unanimously by a vote of 3-0.
4. Aporoval of Minutes, dated Januarv 17, 2O17
Sam Grubbs moved to approve the minutes dated April 18, 2OL7, and board
member Ralph seconded the motion.
The motíon passed unanimously by a vote of 3-0.
5. lst Quarter 2O17 Financial Transactions
Lavina Brennecke, Accounting & Reporting Manager provided details regarding the
Firemen's Relief and Pension Trust Fund Executive Summary, ending June, 2OL7,
including the annual decline in cash and investments. Details were provided
regarding the increase in investment interest that is due to investments.
Lavina indicated that $3,000 was paid to the actuary to update the schedules.
6. CPI Increase for Retiree of Off-Duty Disabled
Susanne Shaw, Senior Financial Analyst, advised that the CPI increase was 2.24o/o
for one retiree and one beneficiary of off-duty disabled firemen.
Firemen's Relief and Pension Board
Minutes
July 18, 20t7
Kent, Washington
Approved October t7, 2OL7
7. Legislative Uodate on Pension FundA. Mayor Cooke presented information regarding the operating budget
that is currently in the Legislature.
B. The Board discussed the plan in case there are no firefighters from
LEOFF1 willing to serve on the Board. Mayor Cooke requested that Kim Komoto
reach out to the Law Department to obtain guidance on available options for getting
board members outside the current membership of LEOFFI, and to bring any
recommendations back to the October, 2Ot7, meeting.
8. Adiournment
At 3:44 p.ffi., Chair, Ma r Cooke declared the meeting adjourned.
Kimberley A moto
Firemen's and Pension Board Secretary
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