10-20-1998
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Edgewater Firefighters' Pension Fund
Regular Meeting
Tuesday, October 20, 1998
6:25 p.m.
Call to Order: The Regular Meeting of the Firefighters' Pension Board was called to
order Tuesday, October 20, 1998 by Chairman Jim Jollie at 6:25 p.m. in the Fire
Administration Office. Members present were: Chairman Jim Jollie, Ms. Patricia Richards,
Mr. Gary Butt, and Ms. Laura Reilly. Ms. Jill Landreville was absent. Also present was
Lisa R. Miller, Recording Secretary.
Minutes: The Minutes from the August 18, 1998, Regular Meeting were submitted for
approval. Ms. Richards moved to approve the minutes as submitted. Mr. Butt seconded.
Motion CARRIED 4 to o.
Old Business: Chairman Jollie explained to the Board what was happening with the
Ordinance changes that have been in the works for some time. There was discussion and it
was noted that there needed to be two Council readings on it. If it was approved, it had to
go to the Division of Retirement. Mr. Butt moved to send 98 -0- Firefighters' Pension
New to Council for its first reading. Ms. Richards seconded. Motion CARRIED 4 to O.
There was discussion regarding Attorney Sugarman's bill and the justification of that bill.
Chairman Jollie stated the charges were founded and there was no reason not to pay the
bill. Mr. Butt moved to pay Attorney Sugarman's bill in the amount of $1,900. Ms.
Richards seconded. Motion CARRIED 4 to O.
There was discussion regarding the annual report. It was noted it had been sent on to the
Finance Department for processing.
There was discussion regarding correspondence that had been sent out since the last
meeting. There was discussion regarding if the Board had ever received information
regarding the actual amount transferred from Smith Barney to STI and the fees incurred in
the changeover. It was noted the information should be coming in the year end statement
from Smith Barney. There was discussion regarding the beneficiary form that is filled out
by the membership. It was noted the original is on file with the City Personnel Department
and a copy is kept for the Board as they would be the ones dispersing pension monies.
There was discussion regarding upcoming pension schools.
There was discussion regarding the next meeting and it was noted if the ordinance change
was approved at first reading, they would need to meet again to send it on to the State
unless they voted on it now. Ms. Richards moved if they are approved during first
reading, to automatically send Firefighters' Pension-a-New on to the State for approval of
the Division of Retirement Ms. Reilly seconded. Motion CARRIED 4 to O.
There was discussion regarding whether the ordinance changes needed to go to the actuary
for an actuarial impact statement before they went to the State since they had to prove the
changes were actuarially sound. Ms. Richards amended her motion to include that after the
first reading was approved by Council, Firefighters' Pension-a-New should automatically
be sent to Foster & Foster for an actuarial impact study before sending both on to the State
for their approval. Ms. Reilly seconded. Motion CARRIED 4 to O.
There being no more business to come before the Board at this time, Mr. Butt moved to
adjourn. Ms. Richards seconded. Meeting adjourned at 7:00 p.m.
Minutes respectfully submitted.
Lisa R. Miller
Recording Secretary
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