At the regularly scheduled meeting of the Fire and Police Pension Fund held on the 19th day of July 2012, Vice President Chris Willmore presided. The meeting was held at the Pension Office, 6009 John Douglass Drive, Chattanooga, TN 37421.
The meeting convened at 0909 hours with board members Chris Willmore, Scott Fulgham, Shawn O’Kelley, Ray Ryan and Stan Sewell. Corliss Cooper arrived at 0950 hours. Attorney Bill Robinson was also present. Terry Knowles and Phillip McClain were excused.
Motion by Stan Sewell and seconded by Scott Fulgham to approve the minutes from the July 5, 2012 meeting. Motion carried unanimously.
Police Sergeant James Hogwood appeared before the Board to give notice of health problems that he reports he is facing and that may cause him to apply for disability in the future. Sgt. Hogwood will have exploratory surgery and testing next week. The Board wished him well and advised him on the procedure for filing for disability in the event he decides to apply.
Bill Robinson updated the Board in regards to the question, from the last Board meeting, on the 3.8% Medicare surtax (Patient Protection and Affordable Care Act) beginning in 2013. Typically the surtax will not apply to benefit recipients as no participant’s annual periodic benefit reaches the taxable level under the Act. Participants with other sources of significant income may wish to contact a tax advisor.
Mr. Robinson also updated the Board on the status of the Grasham lawsuit. He recently received a call from Bryan Hoss (former Officer Grasham’s attorney) and expects the case to begin moving again.
The Board discussed the Fund Administrative budget. Motion by Stan Sewell and seconded by Shawn O’Kelley to approve the educational and operational portions of the budget and continue current staff payroll until the Personnel Committee meets to review the staff. Motion carried unanimously.
The Board discussed changing the dates of Annual Trustees meeting from winter to better accommodate for the weather and members’ schedules. The annual meeting will be held September 24-26 this year and will be in September or October in subsequent years. The regularly scheduled meeting for September 20th will be postponed to September 27th at the Pension Office.
Motion by Scott Fulgham and seconded by Ray Ryan to approve the following membership changes:
ADD TO THE ROLLS:
1) Fire Lieutenant James Gregory Gaston with 25 years of service, effective 07/13/2012; participation date of 07/05/1987
2) Fire Captain Jody D. Houstrup with 28 years of service, reduced to 25-year pension rate and 36 month DROP, effective 07/13/2012; participation date of 06/22/1984
3) Fire Captain Marilyn Henry with 28 years of service, reduced to 25-year pension rate and 36 month DROP, effective 07/13/2012; participation date of 06/21/1984
4) Police Sergeant Thomas Larry Guthrie with 28 years of service, reduced to 25-year pension rate and 36 month DROP, effective 07/13/2012; participation date of 03/02/1984
5) Fire Captain Ronald A. Barrows with 26 years of service, reduced to 25-year pension rate and 21 month DROP, effective 07/14/2012; participation date of 09/09/1985
6) Senior Firefighter David Kay with 26 years of service, reduced to 25 year pension rate and 13 month DROP, effective 07/13/2012; participation date of 06/06/1986
REFUND CONTRIBUTIONS:
1) Retired Police Officer Michael Burns, effective retirement date of 06/27/2012, participation date of 06/24/2012, refund of additional 1% contribution
The motion carried unanimously.
Motion by Stan Sewell and seconded by Shawn O’Kelley to pay the bills. Motion carried unanimously.
Motion by Corliss Cooper and seconded by Ray Ryan to adjourn at 1003 hours. Motion carried unanimously.
Note: City Court Fees for June 2012 have been received.
Note: Fire Captain Kenneth Hardin was approved for a job related disability on 07/19/2012
Chris Willmore, Vice President
Scott Fulgham, Secretary
Visitors
James Hogwood