At the regularly scheduled meeting of the Fire and Police Pension Fund Board of Directors held on the 5th day of January 2017, President Craig Joel presided. The meeting was held at the Pension Office, 6009 John Douglass Drive, Chattanooga, TN 37421.
The meeting convened at 0918 hours with board members Craig Joel, Kelly Simmons, Mark Coffman, Charlie Thomason, Tommy Meeks, Phillip McClain, and Vickie Haley. Attorney Bill Robinson was also present.
Motion by Phillip McClain and seconded by Kelly Simmons to approve the minutes of the December 15, 2016 meeting. Motion carried unanimously.
Motion by Phillip McClain and seconded by Mark Coffman to approve the following membership items:
ADD TO THE ROLLS:
- Master Patrol Officer Ruth A. Layne, retiring with 25 years of service and 2 month DROP, reduced for 100% J&S Option B (John B. Layne III), effective 01/01/2017, adjusted participation date of 10/25/1991 (2-411, 2-418, 2-423)
- Master Patrol Officer Charles Randy Poland, retiring with 28 years of service reduced to 25 year pension and a 36 month DROP, effective 01/01/2017, participation date of 10/21/1988 (2-411, 2-422)
- Police Lieutenant Adrian David Gibb, retiring with 28 years of service, reduced to a 25 year pension and a 36 month DROP, further reduced for 100% J&S Option B (Lynda H. Gibb), effective 01/01/2017, adjusted participation date of 10/23/1988 (2-411, 2-418, 2-422)
- Fund Administrator Johnny Frank Hamilton, Jr., retiring with 28 years of credited service, reduced to a 25 year pension and a 36 month DROP, further reduced for 100% J&S Option (Kelly Hamilton), effective 01/01/2017, participation date of 07/15/1988 (A portion to be paid from the Fund and remainder to be paid from Plan Administrator Defined Benefit Plan and Trust)
REFUND CONTRIBUTIONS:
- Former Police Officer Donnie Lee Garner, Jr., terminated effective November 04, 2016, adjusted participation date of 01/12/2016 (2-413)
- Former Police Officer Jonathan Parker, terminated effective December 21, 2016, adjusted participation date of 03/22/2008 (2-413)(Termination was rescinded)
APPROVED DISABILITIES:
- Fire Lieutenant Vernon M. Lane, approved for Job-Related Disability, effective 01/01/2017, elected 50% J&S Option D (Mauldini Douthit) (2-412, 2-418)
Motion carried unanimously.
The Board reviewed the bills paid since the last meeting.
Attorney Bill Robinson informed the Board that he is drafting a contract with the City of Chattanooga for health insurance Coverage for Fund employees, as well as retired Fund Administrator Frank Hamilton. Motion by Mark Coffman and seconded by Charlie Thomason to ratify the resolution adopted December 21, 2016 to provide post-retirement health care benefits for Johnny Frank Hamilton Jr. Motion carried, with Kelly Simmons opposing. Attorney Robinson briefly discussed that the Board is in compliance with posting the Funding Policy on its website.
The Board discussed the high turnover rate in the Police Department and its potential impact on the Fund. Ron Boyd asked the Board if any consideration has been given to allow cadets in both departments to begin pension contributions during the academy, allowing them to retire six months earlier. It was explained that the opportunity to do so was eliminated in 1993 due to the increased chance of disability claims from members that receive injuries while in the academy and the negative impact these claims could have on the Fund.
The Personnel Committee convened to discuss the Interim Fund Administrator position. Motion by Phillip McClain and seconded by Vickie Haley to appoint Katrina Abbott as Interim Fund Administrator for a trial period of 90 days. Motion carried unanimously.
Motion by Phillip McClain and seconded by Mark Coffman to adjourn at 1125 hours. Motion carried unanimously.
Notes: Received CARTA Parking Fees for November 2016 ($5,215.00)
Notes: Lateral Police Cadets Amanda Lane and Sean Lynch became members of the Fund on 12/30/2016
Notes: Received employee contributions from Tammy Cook for military leave ($2,233.73)
Notes: Following Membership Changes during 2016:
- 19 Police and 4 Fire terminated their employment
- 1 Fire terminated and vested
- 18 Police retired; 2 Fire retired
- 4 Disabilities approved (1 Police, 3 Fire)
- 16 Retirees passed away; 8 beneficiaries passed away
- 8 new beneficiaries added to rolls
- 1 Fund Administrator added to roll
- 28 New Hires – Police
Notes: Visitors not appearing before the Board were Ron Boyd and Michael Hart
Craig Joel Mark Coffman
President Secretary