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HomeMy WebLinkAbout06-27-2002 CITY OF AUBURN FIRE RELIEF & PENSION BOARD MINUTES June 27, 2002 I. Call to Order Mayor Lewis called the meeting to order at 10:08 AM in Room 1 located on the main floor of Auburn City Hall. Fire Relief and Pension Board Members present included Mayor Peter B. Lewis, Finance Director Shelley Coleman, and Member Dave Fugit. Members Fred Poe and Russ Vandver were absent. Also present was Deputy City Clerk Cathy Richardson. II. Approval of Minutes Motion by Member Fugit, second by Member Coleman to approve the June 26, 2001 meeting minutes. MOTION CARRIED UNANIMOUSLY. 3-0. III. Unfinished Business There was no item for review under this section. IV. New Business A. Fire Relief and Pension Cost of LivinQ Benefit Increase The Board reviewed a memo dated June 27, 2002 to Finance Director Coleman from Finance Analyst/Payroll Supervisor Christina Ericksen regarding the Fire Relief and Pension benefit increase. The memo addressed the cost of living increase (COLA) in annual pension benefits to pensioner beneficiaries, Ms. Catherine E. Franklin, Ms. Mary Jane Tinsley, and Ms. Dorothy Hansen. The memo also addressed corrections to the 2001 Fire Relief and Pension increases for beneficiaries Dorothy Hanson and Mary Jane Tinsley. Motion by Member Coleman, second by Member Fugit to approve an increase in annual pension benefits to pension beneficiaries Franklin, Tinsley, and Hansen in the amount of 3.15% based on the 2001 CPI-U and corrections to the 2001 Fire Relief and Pension increases for beneficiaries Hanson and Tinsley. MOTION CARRIED UNANIMOUSLY. 3-0. B. Approval of Claims Board Members briefly reviewed fund expenses including $178,598 in benefit payments, $38,341 in long term care insurance premiums for Fire Relief and Pension Members, and $13,227 in administrative expenses. The Fire Relief and Pension Fund has assets of $3,676,196. Motion by Member Fugit, second by Member Coleman to approve the 2001 expenses of the Fire Relief and Pension Fund. MOTION CARRIED UNANIMOUSLY. 3-0. C. Investment Authorization Motion by Member Fugit, second by Member Coleman to authorize the Treasurer of the City of Auburn to make such investments as may be appropriate from the Fire Relief and Pension Fund. MOTION CARRIED UNANIMOUSLY. 3-0. D. Correspondence Members reviewed correspondence from Ms. Mary Jane Tinsley dated June 12, 2002. Ms. Tinsley requested the City review the method of benefit payments and deductions with regard to the cost of living increase from the State. Member Coleman stated she would review benefit payment procedures. V. Adjournment There being no further business to come before the Fire Relief and Pension Board, Mayor Lewis adjourned the meeting at 10:24 AM. Approved this .::? ~ .......;tJ- day of r ,2003. ...,~..__....<.".- \ ,~;:Ç(£^-~.~-?) 2) L~ C. ~._ L[ ~ ~/ Cathy Richardson, Deputy City Clerk I :/clerk/leoff/2002m6-27FR&P