At the regularly scheduled meeting of the Fire and Police Pension Fund held on the 3rd day of May 2012, President Terry Knowles presided. The meeting was held at the Pension Office, 6009 John Douglass Drive, Chattanooga, TN 37421.
The meeting convened at 1500 hours with board members Terry Knowles, Phillip McClain, Chris Willmore, Scott Fulgham, Corliss Cooper, Shawn O’Kelley, Ray Ryan and Stan Sewell. Attorney Bill Robinson was also present.
Motion by Ray Ryan and seconded by Chris Willmore to approve the minutes from the April 19, 2012 meeting. Motion carried unanimously.
Motion by Phillip McClain and seconded by Scott Fulgham under CCC 2-411 to remove from the rolls Retired Firefighter Kineth W. Judkins, effective May 31, 2012, died May 2, 2012. Motion carried unanimously.
Motion by Corliss Cooper and seconded by Shawn O’Kelley under CCC 2-411 and CCC 2-422 to add to the rolls Police Lieutenant Stanley L. Allen, with 28 years of service, reduced to 25-year pension rate and a 36 month DROP, effective May 7, 2012. Participation date of March 2, 1984. Motion carried unanimously.
Motion by Chris Willmore and seconded by Shawn O’Kelley under CCC 2-411 to pay death benefit to Linda Olliver, designated beneficiary of Kin Judkins. Motion carried unanimously.
Motion by Chris Willmore and seconded by Corliss Cooper under CCC 2-413 to refund contributions to former Police Officer Clayton Grant Smith, pension participation date of June 10, 2011, terminated April 29, 2012. Motion carried unanimously.
Attorney Bill Robinson updated the Board on the status of the Grasham disability lawsuit.
Bill Pickens and Mark Hicks of Gerber Taylor Associates presented the Fund performance report for the first quarter 2012. The Fund showed good overall performance year to date with 6.5% growth.
Motion by Phillip McClain and seconded by Scott Fulgham to pay the bills. Motion carried unanimously.
Motion by Phillip McClain and seconded by Corliss Cooper to adjourn at 1710 hours. Motion carried unanimously.
Terry Knowles, President
Scott Fulgham, Secretary