At the regularly scheduled meeting of the Fire and Police Pension Fund held on the 3rd day of July 2014, President Chris Willmore 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 Chris Willmore, Shawn O’Kelley, Phillip McClain, Brent Goldberg, Jerome Halbert, Mark Coffman and Craig Joel. Attorney Bill Robinson was also present. Less Lee was an excused absence.
Motion by Mr. Joel and seconded by Mr. Halbert to approve the minutes from the June 19, 2014 meeting. Motion carried unanimously.
Senior Firefighter Cleophus Howell appeared before the Board and submitted an application for a Non-Job Related Disability.
Retired Senior Firefighter Eugene Morris appeared before the Board to request that his disability be upgraded to a Permanent and Total Disability. The Board wished to review Mr. Morris’s records and will meet to discuss in an executive session on July 10, 2014 at 0900 hours.
Senior Firefighter Chad Rogers appeared before the Board to request that the Board apply interest to the disbursement of contributions that represent a refund of the additional 1% employee contribution. This additional contribution was elected by members in 2008 to maintain eligibility in the Deferred Retirement Option Provision “DROP” under Chattanooga City Code Section 2-422. It was required in accordance with Section 2-423 (d) added in 2008. Participants who are no longer eligible for the Section 2-422 DROP under the 2014 Plan amendment will receive a refund of the 1% elective contribution they were required to make under Section 2-423 (a) as modified by City Ordinance 12813. President Willmore pointed out to Mr. Rogers that he signed a form asking that the additional 1% contribution be withheld from his base pay back in 2008 and that on the form he acknowledged that he will receive a refund of that contribution if he ceases to be eligible for the DROP und 2-422. Mr. Rogers reported that he is aware that the form states that participants would receive a refund of only the 1% contribution if the DROP is subsequently modified, but feels that the Board should authorize interest to be paid on the refund. Board members reiterated that to honor Mr. Rogers’s request would break precedent. It would also be in violation of City Code Section 2-423 (a) which does not authorize the inclusion of interest in the refund of the elective 1% contribution. After a discussion in which every attending Board member participated and during which the Board made it clear that it could not approve adding interest to the refund, Mr. Rogers thanked the Board for its time. The Board also thanked Mr. Rogers for his interest in the Fund.
City Finance Director Daisy Madison appeared before the Board to discuss GASB 67 and 68 reporting requirements and to request that the Board ask the Fund’s actuary (The Segal Company) to prepare the GASB disclosures for the end of the City’s fiscal year on June 30, 2014. After a discussion about the reasons for implementing the GASB 67 requirements a year early, there was a motion by Mr. Goldberg and seconded by Mr. Joel to request the disclosures from Segal. Motion carried unanimously.
Motion by Mr. Goldberg and seconded by Mr. McClain to approve the following membership changes:
REMOVE FROM THE ROLLS:
Retired Fire Captain Ernest James Bell, Jr., effective 06/30/2014, died 06/23/2014 (2-411)
Retired Police Sergeant Robert Don Garret, effective 06/30/2014, died 06/28/2014 (2-411)
ADD TO THE ROLLS:
Police Sergeant Michael Jenkins, with 26 years of service, reduced to a 25 year pension and 12 month DROP, effective 06/01/2014, service retirement eligibility date of 05/06/2013 (2-411, 2-422)
Norma Bell, surviving spouse of Retired Fire Captain Ernest James Bell, Jr., effective 07/01/2014 (2-411)
Barbara Garrett, surviving spouse of Retired Police Sergeant Robert Don Garrett, effective 07/01/2014 (2-411)
REFUND CONTRIBUTIONS:
Former Firefighter Demetric L. Owens, terminated 06/11/2014, participation date of 12/23/2005 (2-413)
Former Fire Lieutenant Edrius Putman, terminated 1/27/2014, participation date of 4/27/2007 (2-413)
PAY DEATH BENEFITS:
Norma Bell, designated beneficiary of Ernest J. Bell, Jr. (2-411)
Barbara Garrett, designated beneficiary of Robert Don Garrett (2-411)
The motion carried unanimously.
Attorney Bill Robinson updated the Board on the Walden lawsuit. Mr. Robinson appeared in Chancery Court on July 2, 2014 to argue the Board’s motion to dismiss the lawsuit. Mr. Robinson will notify the Board once the Chancellor rules on the motion.
The Board discussed the pending disability applications of Fire Lt. William Gaston and Police Sgt. Kevin Kincer. The Board scheduled a hearing for Mr. Gaston on July 10, 2014. Not all Board members have reviewed Mr. Kincer’s medical records and the Board plans make a decision regarding the scheduling of a hearing for Mr. Kincer at the next regularly scheduled meeting on July 17, 2014.
Motion by Mr. McClain and seconded by Mr. Joel to pay the bills. Motion carried unanimously.
Motion by Mr. O’Kelley and seconded by Mr. Coffman to adjourn at 1053 hours. Motion carried unanimously.
