At the regularly scheduled meeting of the Fire and Police Pension Fund Board of Directors held on the 4th day of February 2016, President Craig Joel presided. The meeting was held at the Pension Office, 6009 John Douglass Drive, Chattanooga, TN 37421.
The meeting convened at 0910 hours with board members Craig Joel, Kelly Simmons, Mark Coffman, Phillip McClain, Charlie Thomason, Tommy Meeks, Less Lee, and Vickie Haley. Attorney Bill Robinson was also present.
Motion by Mark Coffman and seconded by Kelly Simmons to approve the minutes of January 21, 2016 meeting. Motion carried unanimously.
Bill Robinson updated the Board on the status of the current litigation and the Internal Revenue Service Qualification Determination application.
Motion by Mark Coffman and seconded by Tommy Meeks to approve the following membership items:
REMOVE FROM THE ROLLS:
Helen P. Miller, surviving spouse of George W. Miller, effective 01/31/2016, died 01/28/2016 (2-411)
Linda Kuykendall, surviving spouse of William Kuykendall, effective 01/31/2016, died 01/22/2016 (2-411)
REFUND CONTRIBUTIONS:
Former Police Officer Brandon J. Cole, terminated effective 01/22/2016, participation date of 09/18/2015 (2-413)
Former Police Officer Willis Moore, terminated effective 02/4/2016, participation date of 04/18/2014 (2-413)
Former Police Officer Lauren Wenger, terminated effective 02/04/2016, participation date of 03/14/2008 (2-413)
Motion carried unanimously.
The Board reviewed the bills received since the last meeting.
Frank Hamilton presented and proposed a quarterly Fund performance report format to be provided to City Council on February 9, 2016. The Board discussed and modified the proposed report. Motion by Phillip McClain and seconded by Tommy Meeks to present the final report to Council for the Board’s quarterly report. Motion carried unanimously.
Wallace Johnson and Mark Hicks of Gerber Taylor Associates appeared before the Board and presented the 4Q-2015 Investment performance report.
Non-Agenda Items:
Kelly Simmons proposed to eliminate the Board’s policy on requiring persons to give a 2-day notice in order to be placed on the agenda of a Board meeting. President Joel noted a recent request in which a participant was not placed on the meeting agenda, but noted that in most Board meetings, with time permitting, every visitor has been given opportunity to address the Board during a meeting after agenda business has concluded. It was noted that the advanced notices help the Board to understand and prepare to discuss items placed on the agenda and possibly avoids tabling discussion for a later date. Frank Hamilton suggested that the Policy Committee meet as soon as practical and review all policies for current effectiveness.
Motion by Phillip McClain and seconded by Charlie Thomason to adjourn at 1058 hours. Motion carried unanimously.
Notes:
MetWest re-purchased ($3M) with proceeds from Evanston redemption per Board’s 10/01/2015 reallocation schedule
Received City Court Fees for December 2015
Received CARTA Parking Fees for December 2015
City Council report scheduled for 02/09/2016 at 3 PM
