At the regularly scheduled meeting of the Fire and Police Pension Fund Board of Directors held on the 20th 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 0908 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 Kelly Simmons and seconded by Charlie Thomason to approve the minutes of the April 6, 2017 meeting. Motion carried unanimously.
Motion by Mark Coffman and seconded by Phillip McClain to approve the following membership items:
REMOVE FROM THE ROLLS:
- Deloris Sullivan , surviving spouse of retired Police Captain James E. Sullivan, Jr., effective April 30, 2017, died April 9, 2017 (2-411)
- Callie Stargin, surviving spouse of retired Police Sergeant Raymond Stargin, effective April 30, 2017, died April 11, 2017 (2-411)
REFUND CONTRIBUTIONS:
- Former Police Officer Rodney T. Brown, terminated effective 04/10/2017, participation date of 12/12/2014 (2-413)
- Former Police Officer Joshua McGuire, terminated effective 04/11/2017, adjusted participation date of 02/14/2009 (2-413)
- Former Police Officer Richard McDowell II, terminated effective 04/12/2017, adjusted participation date of 12/14/2014 (2-413)
- Former Police Officer Amanda Lane, terminated effective 04/12/2017, participation date of 12/30/2016 (2-413)
- Former Police Officer Joseph Sanchez, terminated effective 04/14/2017, participation date 12/12/2014 (2-413)
- Former Police Officer Shane Stiles, terminated effective 04/21/2017, participation date of 04/18/2014 (2-413)
Motion carried unanimously.
The Board reviewed the bills paid since the last meeting.
Fund Administrator Katrina Abbott informed the Board that Daisy Madison is requesting budget approval for the immediate implementation of full lever dollar amortization with the 1/1/17 actuarial valuation. The final valuation results have been delayed pending the outcome of that approval by City Council. Daisy has requested that two separate valuations be completed pending final budget approval, however after speaking with Segal, it is agreed that Segal will delay the valuation results until a decision has been reached to avoid increased costs associated with completing two valuations. Vickie Haley stated the City will need information from the valuation to complete the CAFR as soon as possible.
Attorney Bill Robinson discussed the Employment Agreement for Fund Administrator Katrina Abbott, as well as an Educational Assistance Plan to provide tax favored tuition assistance for Katrina Abbott to further her degree as part of her compensation package.
Barry Bryant and Steve Roth of Dahab Associates, as well as Mike Welker, Mary Nye, Ron Partain, and Jeff Gabrione with AndCo Consulting appeared before the Board to make final presentations regarding the RFP for Investment Consultant Services. Motion by Phillip McClain and seconded by Mark Coffman to award the RFP for Investment Consulting Services to Dahab Associates, and therefore terminating the Fund’s relationship with current Investment Consultant Gerber Taylor & Associates. Motion carried unanimously.
Motion by Phillip McClain and seconded by Charlie Thomason to adjourn at 1329 hours. Motion carried unanimously.
Notes: Received City Parking Fees for March 2017 ($4,930.00)
Notes: The following graduated the Fire Academy and became new members of the plan effective 04/14/2017:
- Christopher C. Adams, Ruben L. Allison, Brian S. Blagg, Darrell J. Burt, Christopher B. Cone, Matthew R. Dolberry, Reginald G. Dowdy, Alexander E. Efiom, Charles D. Ellis, Zachary W. Elrod, Shanika Y. Freeman, Brian D. Harris, Corey L. Hooper, William S. Hutcheson, Brandon F. Lamphier, Christian A. Long, Ross S. Mason, Brandon T. McCulley, Cameron H. McCullough, Amanda L. Miller, Brent C. Murray, Michael A. Palmieri, Scott A. Paone, Bryant J. Pollard, Jorge L. Ramirez, Chase A. Renfroe, Clay C. Royval, William E. Shamblin, Charles D. Simpson, Justin A. Sims, Christopher B. Songer, Robert E. Sprague, Evan J. Taylor, Cassie A. Webb and Justin L. Zimmerman.
Visitors not Appearing Before the Board: Don Bickford, Michael Hart, Ron Boyd
Craig Joel Mark Coffman
President Secretary