At the regularly scheduled meeting of the Fire and Police Pension Fund Board of Directors held on the 2nd day of July 2015, President Chris Willmore presided. The meeting was held at the Pension Office, 6009 John Douglass Drive, Chattanooga, TN 37421.
The meeting convened at 0913 hours with board members Chris Willmore, Less Lee, Jerome Halbert, and Craig Joel. Brent Goldberg joined the meeting at 0918 hours. Attorney Bill Robinson was also present.
Motion by Less Lee and seconded by Mark Coffman to approve the minutes from the June 4, 2015 meeting. Motion carried unanimously.
Attorney Bill Robinson discussed alternative funding sources that have been researched by legal intern Hannah Burnette in his office. The Board asked Mr. Robinson to discuss the findings with City Attorney Wade Hinton.
Motion by Craig Joel and seconded by Mark Coffman to approve the following membership changes:
REMOVE FROM THE ROLLS:
Barbara N. Cox, surviving spouse and 50% J&S of Retired Fire Captain Joseph B. Cox, effective 06/30/2015, died 06/10/2015 (2-412)
Retired Fire Relief Driver David R. Brown, effective 0531/2015, died 05/28/2015 (2-411)
Retired Fire Captain Walter House, effective 06/30/2015, died 06/26/2015 (2-411)
ADD TO THE ROLLS:
Master Patrol Officer Thomas Ed Burns III, retiring with 27 years of service, reduced to 25-year pension rate and 24 months DROP, adjusted for 100% J&S option (Mary Frances Burns), effective 06/01/2015, participation date of 05/27/1988 (2-411, 2-418, 2-422)
Master Patrol Officer Michael R. Hart, retiring with 28 years of service, reduced to 25-year pension rate and 36 months DROP, effective 07/01/2015, participation date of 06/19/1987 (2-411, 2-422)
Assistant Police Chief Stanley C. Maffett, retiring with 40 years of service, adjusted for 100% J&S option (Carole Maffett), effective 07/01/2015, participation date of 10/01/1974 (2-41, 2-4181)
Former Police Sergeant Kevin D. Kincer, vesting with 20 years of service, effective 4/1/2015, adjusted pension participation date of 4/17/1994, benefit to commence 10/01/2020 (2-415)
Vicki House, Surviving Spouse of Walter House, effective 07/01/2015 (2-411)
REFUND CONTRIBUTIONS:
Former Police Officer Michael Rhudy, terminated May 12, 2015, participation date of 12/12/2014 (2-413)
Former Police Officer James Johnson II, terminated May 21, 2015, participation date 04/18/2014 (2-413)
PAY DEATH BENEFITS:
Donald F. Brown, designated beneficiary of David R. Brown (2-411)
Vicki House, designated beneficiary of Walter House (2-411)
Motion carried unanimously.
The Board discussed ways to make sure that members receive the appropriate amount of communication from the Fund. The Board asked Frank Hamilton to develop an announcement for open forums to be held during the next few meetings.
The Board discussed and approved an RFP for Trust/Custodian Bank services in accordance with Fund policies.
Motion by Brent Goldberg and seconded by Jerome Halbert to adjourn at 1028 hours. Motion carried unanimously.
