At the regularly scheduled meeting of the Fire and Police Pension Fund Board of Directors held on the 7th day of April 2016, President Craig Joel presided. The meeting was held at the Pension Office, 6009 John Douglass Drive, Chattanooga, TN 37421.
The meeting convened at 0907 hours with board members Craig Joel, Kelly Simmons, Mark Coffman, Phillip McClain, Charlie Thomason, Tommy Meeks, Less Lee, and Vickie Haley. Attorney Bill Robinson was also present.
Motion by Charlie Thomason and seconded by Less Lee to approve the minutes of March 17, 2016 meeting. Motion carried unanimously.
Bill Robinson reported that there were no new developments in the Frazier and Dodd lawsuits. Mr. Robinson stated that plaintiffs in the Frazier case have until tomorrow (04/08/2016) to file an appeal with the 6th Circuit Court of Appeals. Mr. Robinson will update the Board if an appeal is filed.
Motion by Tommy Meeks and seconded by Phillip McClain to approve the following membership items:
ADD TO THE ROLLS:
Fire Captain Mark Shook, retiring with 30 years of service, reduced to a 27-year pension rate with a 36 month DROP, effective 03/01/2016, participation date 02/28/1986; terminated 02/28/2016. (Eligible Surviving Spouse—Ona Dankowski Shook) (2-411, 2-422)
Police Sergeant Derrick Stewart, retiring with 27 years, 5 months of service, reduced to a 25-year pension rate with a 29 month DROP effective 04/01/2016, participation date 10/08/1988; terminated 03/17/2016 (2-411, 2-422)
Police Lieutenant Ponda Bailey Foster, retiring with 25 years, 7 months of service, adjusted for 10-Yr Certain Option and reduced to her 25-year pension rate with a 7-month DROP, effective 4/1/2016, participation date 08/31/1990; terminated 03/31/2016 (2-411, 2-418, 2-423)
Police Captain Tommy L. Woods, retiring with 27 years, 10 months of service, reduced to a 25-year pension with a 34-month DROP, effective 04/01/2016, participation date 05/13/1988; terminated 03/30/2016 (2-411, 2-422)
REFUND CONTRIBUTIONS:
Former Police Officer Ernest James Fielden III, terminated with less than 10 years of service on 03/09/2016; participation date 06/27/2008. (2-413)
Former Fire Engineer Tiffany M. Bird, terminated with less than 10 years of service on 04/01/2016; participation date 12/19/2010. (2-413)
Motion carried unanimously.
The Board reviewed the bills paid since the last meeting.
Motion by Phillip McClain and seconded by Tommy Meeks to adjourn at 0930 hours. Motion carried unanimously.
Notes:
Meet with Advisory Committee at conclusion of meeting
FF Stacy Brogden scheduled to present JRD application on 04/21
Actuary Jeff Williams scheduled to present 01/01/2015 valuation on 04/21
Receive proceeds from multiple investor class action lawsuits
