At the regularly scheduled meeting of the Fire and Police Pension Fund held on the 1st day of November 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 0915 hours with board members Chris Willmore, Corliss Cooper, Jerome Halbert and Ray Ryan. Attorney Bill Robinson was also present. Terry Knowles, Shawn O’Kelley, and Phillip McClain were excused.
Motion by Corliss Cooper and seconded by Jerome Halbert to approve the minutes from the October 18, 2012 meeting. Motion carried unanimously.
Janet Johnson of Lattimore Black Morgan and Cain presented LBMC’s findings on the accounting Compilation and Agreed Upon Procedures. During her presentation, Ms. Johnson reported an issue with the Wells Fargo Trust Statements, in which a Fund investment with Pointer Management was incorrectly reported for three months during the City’s fiscal year. Motion by Ray Ryan and seconded by Corliss Cooper to have Luke Provenzano, of Wells Fargo, investigate and report back to the Board his findings on the cause of the misstatement. Motion carried unanimously.
Motion by Corliss Cooper and seconded by Jerome Halbert to approve the following membership changes:
ADD TO THE ROLLS:
Former Police Officer Roy Grasham, vesting with 12 years of service, effective 10/18/2012, participation date of 04/6/1999. (2-415)
Retired Fire Lieutenant George Kenneth Fairchild, Jr., with 25 years of service, effective 11/02/2012, participation date of 10/23/1987 (2-411)
Retired Fire Lieutenant Daniel Greg Murray, with 25 years of service, effective 11/02/2012, participation date of 10/26/1987 (2-411)
Retired Fire Captain Darrell Burt, with 25 years of service, effective 11/03/2012, participation date of 10/23/1987 (2-411)
REFUND CONTRIBUTIONS:
Vested Police Officer Roy Grasham, participation date of 4/6/1999, refund of additional 1% contribution (2-423(d))
Retired Fire Lieutenant George K. Fairchild, Jr., participation date of 10/23/1987, refund of additional 1% contribution (2-423(d))
Retired Fire Lieutenant Daniel G. Murray, participation date of 10/26/1987, refund of additional 1% contribution (2-423(d))
Retired Fire Captain Darrell Burt, participation date of 10/23/1987, refund of additional 1% contribution (2-423(d))
The motion carried unanimously.
Motion by Corliss Cooper and seconded by Jerome Halbert to pay the bills. Motion carried unanimously.
Note: The Fund received 10 responses to Actuarial RFP. The Staff review is in progress.
Note: Police Officer Anthony B. Gibson was reinstated to the Police Department effective October 31, 2012.
Note: After hearing new evidence in the Grasham disability case on November 1, 2012, the committee affirmed its prior decision that his disability is the result of a pre-existing condition and not due to an on-the-job injury.
Motion by Corliss Cooper and seconded by Jerome Halbert to adjourn at 1003 hours. Motion carried unanimously.
Terry Knowles, President
Phillip McClain, Secretary