At the meeting of the Fire and Police Pension Fund Board of Directors held on the 21st day of May 2015, President Chris Willmore presided. The meeting was held at the Pension Office, 6009 John Douglass Drive, Chattanooga, TN 37421.
The meeting convened at 0915 hours with board members Chris Willmore, Kelly Simmons, Less Lee, Brent Goldberg and Jerome Halbert. Board members Craig Joel, Mark Coffman, and Phillip McClain were excused absences. Attorney Bill Robinson was also present.
Motion by Less Lee and seconded by Jerome Halbert to approve the minutes from the May 7, 2015 meeting. Motion carried unanimously. Motion by Jerome Halbert and seconded by Less Lee to approve the minutes from the May 15, 2015 special called meeting. Motion carried unanimously.
Attorney Bill Robinson provided a brief update on the status of pending lawsuits against the Fund. At this time, both are still in the stages of discovery. Attorney Robinson also discussed the pending Funding Policy. He feels that it is more compliant to have the City Council adopt the Funding Policy upon recommendation of the Board. The pending Funding Policy is in compliance with new state law and is scheduled to be finalized at the next regularly scheduled Board meeting.
The Board discussed alternative methods of funding that could be considered to increase the funding status of the pension plan at a more rapid pace than what is currently projected. Motion by Less Lee and seconded by Jerome Halbert to have Attorney Robinson utilize his law firm’s summer interns to research alternative methods at no expense to the Fund. Motion carried unanimously. The Board also requested the Fund Staff research other pension plans to determine if there are other viable options that are being utilized.
Deputy Administrator Katrina Abbott updated the Board on the current status of the pending disability application for Firefighter Abdul Swafford. The Fund is awaiting further medical records and hopes to have complete information for the Board to proceed with the application process by the next regularly scheduled meeting.
Motion by Brent Goldberg and seconded by Kelly Simmons to approve the following membership changes:
Remove from the Rolls:
Retired Fire Captain Theodore R. Griffith Jr., effective 05/31/2015, died 05/12/2015 (2-411)
Add to the Rolls:
Barbara Griffith, surviving spouse of Theodore R. Griffith Jr., effective 06/01/2015 (2-411)
Refund Contributions:
Former Police Officer Karl W. Fields III, terminated 04/01/2015, adjusted participation date of 05/14/2004 (2-415)
Former Police Sergeant Sarah E. Moody, terminated 04/30/2015, adjusted participation date of 1/20/2005 (2-415)
Pay Death Benefits:
Barbara Griffith, designated beneficiary of Theodore R. Griffith Jr. (2-411)
Motion carried unanimously.
Motion by Jerome Halbert and seconded by Kelly Simmons to adjourn at 1020 hours. Motion carried unanimously.
