At the regularly scheduled meeting of the Fire and Police Pension Fund Board of Directors held on the 6th day of April 2017, President Craig Joel presided. The meeting was held at the Pension Office, 6009 John Douglass Drive, Chattanooga, TN 37421.
The meeting convened at 0922 hours with board members Craig Joel, Kelly Simmons, Mark Coffman, Phillip McClain, and Vickie Haley. Attorney Bill Robinson was also present. Charlie Thomason and Tommy Meeks were excused absences.
Motion by Phillip McClain and seconded by Kelly Simmons to approve the minutes of the March 16, 2017 meeting. Motion carried unanimously.
Motion by Phillip McClain and seconded by Mark Coffman to approve the following membership items:
REMOVE FROM THE ROLLS:
- Katherine Gann – surviving spouse of retired Fire Lieutenant Larry Eugene Gann, effective April 30, 2017, died April 4, 2017 (2-411)
ADD TO THE ROLLS:
- Police Sergeant William W. “Bill” Philips, with 28 years of service, reduced to a 25 year pension and 36 month DROP, further reduced for 75% J&S Option C (Wendy Phillips), effective 04/01/2017, participation date of 02/10/1989 (2-411, 2-418, 2-422)
- Police Lieutenant Albert E. Tallant, with 25 years of service and 1 month DROP, reduced for 75% Pop-up Option F (Jodi Tallant), effective 04/01/2017, adjusted participation date of 02/04/2017 (2-411, 2-418, 2-423)
REFUND CONTRIBUTIONS:
- Former Police Officer Nicholas J. Janow, terminated effective 03/23/2017, participation date of 12/12/2014 (2-413)
Motion carried unanimously.
The Board reviewed the bills paid since the last meeting.
The Board discussed the Preliminary Actuarial Valuation results received from Segal outlining two scenarios to make the switch to the level dollar amortization methodology required by PEDBFS. The preliminary results have been forwarded to Daisy Madison for review.
The Board recessed for an executive legal session at 0938 hours.
Motion by Phillip McClain and seconded by Charlie Thomason to adjourn at 1058 hours. Motion carried unanimously.
Notes: Received City Court Fees for February 2017 ($8,105.07)
Notes: Following Membership Changes during 1Q 2017:
- 8 Police and 2 Fire terminated employment
- 2 Police retired; 1 Fire retired
- 1 Pending Disability Application (Police)
- 3 Retirees passed away; 2 beneficiaries passed away
- 2 new beneficiaries added to rolls
Visitors not Appearing Before the Board: Michael Hart and Ron Boyd
Craig Joel Mark Coffman
President Secretary