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HomeMy WebLinkAbout2011.01.10 Fire Pension Board MinutesFIRE PENSION BOARD MEETING MINUTES January 10, 2011 CALL TO ORDER: Meeting called to order at 6:04 p.m. by Dunyele Mason. ROLL CALL: Those Present: Don Carter, Debbie Clark, Alvie Covington, Rebecca Francik (absent), Harvey Swoboda, Dunyele Mason APPROVAL OF PRIOR MEETING MINUTES: Motion was made by Alvie Covington and seconded by Don Carter to approve the minutes as amended of the October 11, 2010 meeting. Motion passed. BILLS: A copy of the preliminary monthly transaction ledger for October through December was distributed. It was noted that the December payment for Medical/Dental payment had not yet been processed as December year end processing will continue through the end of January. Mr. Covington inquired as to whether the description used to record the Medical/Dental payment could be changed in the future to exclude the word "police" so that it is not misleading as no police payment is included in the amount. Dunyele Mason indicated that she would check on whether the wording could be changed in the future. Mr. Covington inquired as to the methodology used to set the rate. General discussion ensued. Mr. Swoboda inquired as to when the BMI contract expired but the answer was unknown. General discussion regarding general level. of service offered by this contractor ensued. Motion was made by Alvie Covington and seconded by Harvey Swoboda to approve the preliminary expenditure transactions as presented. Motion passed. FINANCIAL STATEMENT: Presented. The statement includes preliminary numbers as December year end processing is not yet complete at the city. The preliminary numbers do not include the December payment noted above, the December interest earnings or the 4th Qtr dividends reinvested. OLD BUSINESS: 1) Actuarial Study - The request for services was sent to all the same vendors as five years ago and only one vendor (Milliman) responded. This is a well qualified firm, the contract is in the process of negotiation but the price looks to be $7,700 with the study anticipated to be complete by the middle of February. NEW BUSINESS: 1) The results of the election were presented with Harvey Swoboda unanimourly voted to a new year term that expires at the end of 2012. OTHER BUSINESS: None. ADJOURNMENT: 6:22 p.m. NEXT MEETING ON: April 11, 2011 at 6:00 p.m.