At the regularly scheduled meeting of the Fire and Police Pension Fund Board of Directors held on the 16th day of March 2017, President Craig Joel presided. The meeting was held at the Pension Office, 6009 John Douglass Drive, Chattanooga, TN 37421.
The meeting convened at 0927 hours with board members Craig Joel, Kelly Simmons, Mark Coffman, Charlie Thomason, Phillip McClain, Tommy Meeks and Vickie Haley. Attorney Bill Robinson was also present.
Motion by Kelly Simmons and seconded by Phillip McClain to approve the minutes of the March 02, 2017 meeting. Motion carried unanimously.
Police Officer Charles Gary Blankenship II appeared before the Board to submit his application for a job-related disability. Officer Blankenship is currently on light duty. The Board accepted his application and noted this could be a lengthy process. Officer Blankenship stated that Interim Fund Administrator Katrina Abbott had explained the process to him in detail.
Attorney Bill Robinson updated the Board on the status of the Group Health Insurance Agreement with the City of Chattanooga. He also informed the Board that he had spoken with City Attorney Valerie Maleug regarding the removal of City Code pertaining to leave with pay for job related meetings. Valerie Maleug told him that the City specifically did not place the previous language of City Code Section 2-169 in the EIG because separate departments have different personnel needs and may not be able to grant leave for meetings based on those needs. The Board requested Bill Robinson look into this issue further to see what can be done to ensure Directors of the Fire and Police Pension Board continue to be granted leave with pay for pension related matters.
Motion by Mark Coffman and seconded by Charlie Thomason to approve the following membership items:
REFUND CONTRIBUTIONS:
- Former Police Officer Anthony R. Pier, terminated effective 03/02/2017, participation date of 12/02/2016 (2-413)
- Former Fire Engineer Toby B. Walker, terminated effective 03/03/2017, participation date of 02/25/2011 (2-413)
- Former Police Officer Charles A. Martin, terminated effective 03/10/2017, participation date of 12/12/2014 (2-413)
- Former Fire Engineer Ian M. Moon, terminated effective 03/15/2017, adjusted participation date of 09/30/2007 (2-413)
Motion carried unanimously.
The Board reviewed the bills paid since the last meeting.
Interim Fund Administrator Katrina Abbott discussed the need to postpone the DROP/Retirement Seminar until the current RFP for Investment Consultant has been completed. The Board agreed to postpone the seminar until the process has been finalized to ensure the retained Consultant can be part of the process. Katrina Abbott also updated the Board on the change in ownership structure with Glouston Capital Partners to 100% employee owned.
Katrina Abbott updated the Board on a request received from Police Lieutenant Austin Garrett. Lt. Garrett requested calculations for employee contributions he would have paid if he were granted an adjustment in his original membership date to 12/07/1993. Katrina explained that a request regarding his membership date was reviewed by the Board in 2014 when an ad hoc committee was established to review this issue. It was the findings of that committee, and subsequently, the Board as a whole, that his original membership date of 02/08/1994 was correct and could not be changed. The Board instructed Katrina to respond to Lt. Garrett denying his request based on the previous Board decision in 2014, which she has done.
Barry Bryant and Steve Roth of Dahab Associates and David Barnes and Brad Smith of NEPC appeared before the Board to make a final presentation for the RFP for Investment Consultant Services.
Motion by Phillip McClain and seconded by Charlie Thomason to adjourn at 1228 hours. Motion carried unanimously.
Notes: Received Unclaimed Property Proceeds ($2,402.09)
Notes: Received CARTA Parking Fees for February 2017 ($4,065.00)
Notes: Tentative schedule for Segal Valuation – 4/6/17 Level Dollar Memo to Board; 4/20/17 Valuation Draft to Board
Visitors not Appearing Before the Board:
Don Bickford Michael Hart Ron Boyd
Craig Joel Mark Coffman
President Secretary