HomeMy WebLinkAboutCity Council Committees - Disability Retirement Board - 12/08/2016 (2)
Unless otherwise noted, the Disability Retirement Board at 3 p.m. on the second Thursday of
each month in City of Kent, Centennial Center Room 401, 400 West Gowe, Kent, WA 98032.
For additional information please contact Amy Caraballo at 253-856-5279 or via email at
Acaraballo@KentWA.gov.
Any person requiring a disability accommodation should contact the City Clerk’s
Office at 253-856-5725 in advance. For TDD relay service call Washington
Telecommunications Relay Service at 1-800-833-6388.
Disability Retirement Board (LEOFF 1)
Agenda
Commissioners: Chair: Bill Johnson, Robert Holt
Councilmembers: Dana Ralph – Les Thomas
Secretary: Amy Caraballo
December 8, 2016
3 p.m.
Item Description Action Speaker Time Page
1. Call to order Bill Johnson 1
2. Roll Call Bill Johnson 1
3. Changes to the Agenda
4. Approval of Minutes from October 13,
2016
Yes Bill Johnson 5 1
5. Election Update – Information Only No Amy Caraballo
6. Review LEOFF 1 Dental Comparison –
Information Only
No Becky Fowler 10 3
7. Adjournment
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Kent Disability Retirement Board Special Meeting October 13, 2016
Minutes Kent, Washington
PRESENT: Bill Johnson- Chair Fire Representative, Dana Ralph- Council
Member, Les Thomas – Council Member, Robert Holt- Police Representative,
Becky Fowler- Benefits Manager and Amy Caraballo – Benefits Analyst
ABSENT: Mary Lou Becvar, Member at Large
1. Call to Order
The meeting was called to order at 3:00 p.m., with Committee Chair Bill Johnson
presiding.
2. Roll Call
Mary Lou Becvar was absent.
3. Changes to the Agenda
Bill Johnson indicated there were no changes to the agenda.
4. Approval of Minutes, dated July 12, 2016
Past Minutes of August 31st, were reviewed and approved.
5. Health and Wellness Fund -
The committee reviewed the report prepared as of August 31, 2016. The
fund is within budget and is well funded. Rodger at Healthcare Actuaries did
not recommend an increase for 2017; however, we will increase 5% for next
year. As of August 31, 2016 reserves are $1.1 million in working capital.
Medical is doing well and most of the expense is from hearing aids.
6. Amy Caraballo was appointed the LEOFF 1 Board Secretary.
Bill Johnson seconded the motion, and the board members unanimously
approved.
7. 2017 Actuarial Report completed by Rodger at Healthcare
Actuaries.
Exhibit E shows projected total costs for 2016 is $842,446.
Exhibit G shows projected plan costs for 2017, 2018, and 2019
although it’s difficult to project out more than one year. Long term
care expenses have been excluded from the Healthcare Fund and
budgeted in a separate Long Term Fund.
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Kent Disability Retirement Board Special Meeting October 13, 2016
Minutes Kent, Washington
Exhibit K funding projection through 2019 shows zero percent
premium rate increase. The majority of our LEOFF 1 retirees are
primary with Medicare.
Funding reserve goal: 2x IBNR
8. HIPPA PROTECTED MEDICAL
None
9. Adjournment
Approved to adjourn the October 13, 2016 Special Disability Board Meeting.
Amy Caraballo
LEOFF 1 Secretary
October 13, 2016
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