At the regularly scheduled meeting of the Fire and Police Pension Fund held on the 21th day of February 2013, President Terry Knowles presided. The meeting was held at the Pension Office, 6009 John Douglass Drive, Chattanooga, TN 37421.
The meeting convened at 0921 hours with board members Terry Knowles, Chris Willmore, Corliss Cooper, Phillip McClain, and Ray Ryan. Attorney Bill Robinson was also present. Jerome Halbert and Shawn O’Kelley were excused.
Motion by Ray Ryan and seconded by Phillip McClain to approve the minutes from the February 7, 2013 meeting. Motion carried unanimously.
Attorney Bill Robinson reported that the lawsuit filed by former Police Officer Roy Grasham has been dropped and will be final effective 04/14/2013.
Motion by Phillip McClain and seconded by Ray Ryan to approve the following membership changes:
REMOVE FROM THE ROLLS:
Retired Police Officer Harry E. Jarrett, effective 02/28/20133, died 02/16/2013 (2-412)
ADD TO THE ROLLS:
Gail M. Francis, 100% J&S beneficiary of Police Captain Jeffrey L. Francis, effective 03/01/2013, active duty death on 02/20/2013 (2-411 and 2-418)
REFUND CONTRIBUTIONS:
Former Police Officer Anthony Blake Gibson, terminates 02/26/2013, participation date of 10/30/2008 (2-413)
Additional 1% contribution of Jeffery L. Francis in care of Gail M. Francis (2-423-d)
PAY DEATH BENEFIT
Tara Jarrett and Tracy Jarrett, designated co-beneficiaries of Harry E. Jarrett (2-412)
Gail M. Francis, designated beneficiary of Jeffrey L. Francis (2-411)
The motion carried unanimously.
Frank Hamilton reported that the Fund Staff has nearly completed work on preparing benefits statements that will be sent to active Firefighters and Police Officers employees annually. The benefits statements will provide members with an employee contributions statement and an estimated vested or retirement benefit accrued as of January 1 each year. The Fund Staff is currently examining Leave-Without-Pay (LWOP) and estimated retirement eligibility dates. The statements will be sent out as soon as feasible.
The Board also discussed the Pension Survey results sent out to sworn employees on 02/18/2013. The Board discussed the Fund’s Unfunded Actuarially Accrued Liability and the Board’s fiduciary responsibility to the Fund and the Fund’s participants. The Board asked Frank Hamilton to address the UAAL with the Fund’s actuaries and schedule a time to discuss in the near future.
Motion by Phillip McClain and seconded by Corliss Cooper to pay the bills. Motion carried unanimously.
Motion by Phillip McClain and seconded by Chris Willmore to adjourn at 1109 hours. Motion carried unanimously.
Note: Disability hearing for Sgt. James Hogwood scheduled for 03/07/2013 at 1030 hours
Note: City Court fees received for January 2013.
Note: CARTA administrative fees received for November and December 2012
