At the regularly scheduled meeting of the Fire and Police Pension Fund Board of Directors held on the 19th day of November 2015, President Craig Joel presided. The meeting was held at the Pension Office, 6009 John Douglass Drive, Chattanooga, TN 37421.
The meeting convened at 0905 hours with board members Craig Joel, Kelly Simmons, Mark Coffman, Phillip McClain, Charlie Thomason, Tommy Meeks and Vickie Haley. Attorney Bill Robinson was also present.
Motion by Phillip McClain and seconded by Charlie Thomason to approve the minutes of November 5, 2015 meeting. Motion carried unanimously.
Certified Public Accountant Janet Neighbors of LBMC appeared before the Board and presented LBMC’s Compilation of Financial Statements and Agreed Upon Procedures reports on the Fund. Ms. Neighbors found no exceptions within the Agreed Upon Procedures, describing the Fund’s procedures as “very clean”.
Bill Robinson provided an update on the status of the current litigation.
Motion by Phillip McClain and seconded by Mark Coffman to approve the following membership items:
REMOVE FROM THE ROLLS:
Retired Deputy Police Chief Larry Joe Lyda, effective 11/30/2015, died 11/13/2015 (2-411)
ADD TO THE ROLLS:
Firefighter Richard L. Meier, retiring with 28 years of service, adjusted to a 25 year pension rate and 36 month DROP, effective 12/1/2015, participation date of 10/23/1987 (2-411, 2-422)
Fire Battalion Chief Charles E. Patton, retiring with 28 years of service, adjusted to a 25 year pension rate and 36 month DROP, effective 12/1/2015, participation date of 10/23/1987 (2-411, 2-422)
Fire Battalion Chief Frederick A. Blake, retiring with 28 years of service, adjusted to a 25 year pension rate and 36 month DROP, effective 12/1/2015, participation date of 7/3/1987(2-411, 2-422)
Fire Battalion Chief Fred Rick Sewell, retiring with 28 years of service, adjusted to a 25 year pension rate and 36 month DROP, effective 12/1/2015, participation date of 6/19/1987 (2-411, 2-422)
Tammy Lyda, surviving spouse of Larry Joe Lyda, effective 12/1/2015 (2-411)
Fire Captain Emily Smith, vesting with 15 years of service effective 11/19/2015, participation date of 02/17/2000. Benefit to commence effective 11/1/2032 (2-415)
REFUND CONTRIBUTIONS:
Former Police Officer Travis T. Pelkey, terminated 11/12/2015, participation date of 4/18/2014 (2-413)
PAY DEATH BENEFITS:
Tammy Lyda, designated beneficiary of Larry Joe Lyda (2-411)
Motion carried unanimously.
The Board reviewed and discussed the administrative expenses incurred since last meeting.
Motion by Phillip McClain and seconded by Tommy Meeks to adjourn at 0941 hours. Motion carried unanimously.
Notes:
Board Advisory Committee meeting at 1030 hours
GTA appearing before the Board on 02/04/2016
Luke Provezano tentatively scheduled to attend 12/17/2015 meeting
