At the regularly scheduled meeting of the Fire and Police Pension Fund Board of Directors held on the 3rd day of December 2015, President Craig Joel presided. The meeting was held at the Pension Office, 6009 John Douglass Drive, Chattanooga, TN 37421.
The meeting convened at 0906 hours with board members Craig Joel, Mark Coffman, Phillip McClain, Charlie Thomason, Tommy Meeks, Less Lee and Vickie Haley. Attorney Bill Robinson was also present.
Motion by Less Lee and seconded by Tommy Meeks to approve the minutes of November 19, 2015 meeting. Motion carried unanimously.
Retired Firefighter Freddie L. Brooks appeared before the Board regarding the DROP Payment Policy. The Board explained that the DROP Payment Policy was in the best interest of all participants of the Fund and will not be deviated for any one individual. Deputy Administrator Katrina Abbott explained that all active members of the Fund were emailed a copy of the DROP Payment Policy when it was adopted in 2011. The Policy is also explained during retirement appointments and benefit meetings. Going forward, Fund Staff will post the DROP Payment Policy to the Fund’s website, as well as create a check-list to include during retirement appointments for members to sign and acknowledge receipt of information.
Bill Robinson provided an update on the status of the current litigation.
Motion by Phillip McClain and seconded by Mark Coffman to approve the following membership items:
ADD TO THE ROLLS:
George Perry Walden, retiring with 20 years of service at age 57, effective 12/01/2015, adjusted for 50% J&S option (Joanie Hale). Participation date of 11/24/1995. (2-415)
Motion carried unanimously.
The Board will tentatively schedule a Personnel Committee meeting for 12/10/2015.
The Board discussed the format of the Quarterly City Council Report.
Motion by Phillip McClain and seconded by Tommy Meeks to adjourn at 0958 hours. Motion carried unanimously.
Notes:
Board Advisory Committee meeting on 12/17/2015 at 1000 hours
GTA appearing before the Board on 02/04/2016
Luke Provezano tentatively scheduled to attend 12/17/2015 meeting
Stacy Richardson confirmed Vickie Haley as Mayor’s appointment to the Board via email on 11/19/2015