MINUTES OF THE BOARD OF TRUSTEES
September 25, 2008
CALL TO ORDER
President David Marino called the meeting of the Board of Trustees of the Los Angeles Firemen’s Relief Association to order at 11:06 a.m.
ROLL CALL
MEMBERS PRESENT:
- David Marino, President
- Robert Steinbacher, Vice President
- Trustee Juan Albarran, Battalion 3
- Trustee Chris Hart – Battalion 4
- Trustee Mark Akahoshi, Battalion 5
- Trustee Gary Matsubara – Battalion 7
- Trustee David Peters – Battalion 10
- Trustee Chris Stine – Battalion 11
- Trustee John Jacobsen – Battalion 13
- Trustee Michael Overholser – Battalion 14
- Trustee Francisco Hernandez – Battalion 17
- Trustee Dennis Mendenhall – Battalion 18
- Trustee David Ortiz – Headquarters 1
- Trustee Kurt Stabel – Headquarters 2
- Trustee Warren Braun – Pension 1
- Trustee Tom Stires – Pension 2
- Trustee Robert Henderson – Pension 3
- Executive Director – David Ned Smith
- Controller – Todd Layfer
MEMBERS ABSENT:
- Trustee James Coburn – Battalion 1 (Excused)
- Trustee Tim Larson – Battalion 6 (Excused)
- Trustee Doak Smith – Battalion 9 (Excused)
- Trustee Gene Bednarchik – Battalion 2 (Excused)
- Trustee William Dunn – Battalion 12 (Excused)
- Andrew Kuljis, Secretary-Treasurer (Excused)
- Trustee Glen Prine – Battalion 15 (Excused)
GUEST PRESENT:
- Steve Tufts, UFLAC
INVOCATION
Trustee Warren Braun led the invocation.
PRESIDENT’S REPORT
1) David Marino entertained a motion to ratify and dispense with the reading of the minutes of the Board of Trustees meeting held August 14, 2008. Juan Albarran so moved. David Peters seconded the motion. There was no discussion or objections.
Motion carried to ratify and dispense with the reading of the minutes of the Board of Trustees meeting held August 14, 2008.
2) David Marino mentioned that he attended a meeting with UFLAC members and asked Steve Tufts to come by and visit at their Board meeting.
3) David Marino introduced Steve Tufts, President of UFLAC to the Board. Steve Tufts thanked the Board for all their work and support with widows and memorials. He mentioned that they had conducted a survey last month and reported that a big issue from the results was medical health. He also mentioned that the results wanted physical fitness and to deal with cancer issues. He indicated that they had acquired a deal with 24 Hour Fitness and asked if LAFRA would be interested in administering. He noted that those members signed up with LAFRA would be extended the same deal as UFLAC. David Marino stated we would consider it and get back to him.
INVESTMENT COMMITTEE REPORT
Chairman Kurt Stabel provided a brief synopsis of what has happened over the last two months. He indicated that our funds were performing well, however, they’ve had a couple of concerns in the areas of the money market investments. He mentioned that they’ve contacted U.S. Bank and stated that although are no guarantees the funds should be safe with U.S. Bank. He mentioned how financial markets and stocks had gone down significantly with a few financial stocks that have “weathered the storm”, U.S. Bank being one of them. He stated there are a lot of firms at risk but is hopeful that U.S. Bank will remain safe.
He mentioned that David Smith had prepared a short memo and encouraged Board members to read. He stated that in terms of moving forward with the investment policy, they had no plans to change what they’re doing. He indicated that had a new allocation plan which Garth had just sent and indicated he would distribute to everyone and move forward with the implementation of the allocation plan.
He stated that the PIMCO Bond Fund that we own had the highest one-day return in history due to them going into agency related securities.
David Smith referred to our $8 million of cash at U.S. Bank and which is only as secure as U.S. Bank. He indicated that they have been exploring ways to spread the risk and stated that the immediate option was for them to move the money out of the money market account and move into the checking sweep account. He stated that by doing so, the money would be protected and viewed as being in other instruments if there was an unexpected event that U.S. Bank was taken over by the FDIC. He mentioned that the down side of moving the money would be that the interest rate goes down. He indicated that another option would be to move money out of money market and place into a T-Bill ladder. He noted that the T-Bill ladder pay less than the money market accounts. He asked for the Board’s direction on taking steps to moving money from the money market and perhaps placing into T-Bills.
Kurt Stabel presented the following motion.
The committee recommends and I so move to leave the money as it sits with U.S. Bank in the current account, however, add another form of oversight that they have a formal review of U.S. Bank’s financial status related to LAFRA’s funds each week. There was no discussion or objections.
Motion carried to leave the money as it sits with U.S. Bank in the current accounts and add another form of oversight that U.S. Bank provides formal financial status related to LAFRA’s funds each week.
MEMORANDUM
FROM: Investment Committee, Chairman Kurt Stabel
DATE: September 25,2008
SUBJECT: Market Update from Investment Committee
Currently we are experiencing almost unprecedented upheaval in the debt and equity markets with some market participants saying that we are in the midst of the worst financial crisis since the great depression. The market correction is affecting both stock and bond markets with short-term government issues (treasury bill and notes) being the only safe haven from price erosion. We are experiencing a drastic re-pricing of assets (stocks and bonds) due to an elevated level of risk which has permeated the entire financial system. Initially when the credit crisis broke out credit spreads widened (a traditional measure of risk in the bond markets when creditors demand higher interest rates), now many market observers are reporting that the credit markets are essentially “frozen” with banks refusing to lend to each other and corporate debt issuance near record lows. This is the primary reason for the Fed and Treasury’s argument that a massive liquidity intervention is necessary to “free up” the financial system which is an integral part of our economy or face potential financial doom.
Where we are right now. The first major indication of trouble started in July of 2007 with the failure of two Bear Stearns hedge funds. Both of these funds were heavily invested in sub-prime mortgages as Bear Stearns was one of the largest underwriters of complex investment vehicles linked to home mortgages. This failure along with decreasing home values started the ball rolling on an ever increasing number of homeowners defaulting on mortgages, which has set off a downward spiral of foreclosures and falling home prices, which has ultimately led to more unwinding of complex debt instruments. “Mark to market” accounting has forced investment banks and traditional thrifts to take billions of dollars in write-offs, weakening their balance sheets, which has also set in motion a further downward spiral of asset values tied to instruments like CDO’s and CMO’s. A major problem lies in that the market for these debt instruments is not transparent and valuing the underlying assets is difficult which has led to even further downward pressure on prices. This is where the Fed and Treasury want to step in and stop price erosion to restore an orderly market for these assets. They are proposing to simply remove these “toxic assets” off of the bank’s balance sheets and hold these assets until more buyers come back into the market. Hopefully this action will break the “negative feedback loop” that is gripping these financial instruments.
The Fed and Treasury have already attempted major interventions and bailouts which have not worked. The Fed pledged approx $35 billion to support the buyout of Bear Stearns by JP Morgan. During the weekend of Sept. 6th and 7th the Federal Government effectively nationalized Fannie Mae and Freddie Mac. The ultimate bill for this bailout is estimated to potentially cost $200-$300 billion. A benefit of this bailout was Pimco’s Total Return Fund. We have approximately 35% of our assets invested in this fund. The Total Return Fund experienced its’ highest one day return of 1.3% due to the fact that Bill Gross had correctly taken the position that the government would be forced to stand behind agency issued debt. While exact figures aren’t available it is estimated that approximately 60%-70% of the fund’s $130 billion was invested in mortgage related securities. While we haven’t had any performance reports regarding our new investment in Pimco’s private distressed debt fund I anticipate that the fund’s performance will be extremely strong due to the fact that the government has essential taken all of these loans onto its balance sheet. Bill Gross is strongly behind the proposed $700 billion dollar bailout formulated by the Fed and Treasury which is viewed as essential to breaking the gridlock gripping the financial markets.
An unanticipated problem that has resulted from the credit crunch has been that the normal safe haven of money market funds has been in question. Massive redemptions by investors have caused a liquidity crisis in this market which has historically been virtually risk free. Some investor’s funds have “broken the buck”, a situation where investors have lost principal. This is when an investor’s initial dollar of capital is returned with only .97 or .98 cents. This has caused us to look very closely at the safety of our money market accounts. From all indications available our money at US bank is safe. An indication of the health of a financial institution is often the common stock price. While many financial stocks have hit or are near there 52 week lows US Bank recently hit a 52 week high. We have conferred with Garth Flint and he has agreed that he has not heard of any anticipated weakness which could result in a loss of principal at US Bank. Further the Fed and other central banks have injected approximately $180 billion dollars into global money markets in the last month. While this is not an explicit guarantee of principal of our money market assets it can be seen as a very positive step to ensure that markets are functioning properly in the sub sector of money market accounts. Todd Layfer and David Ned Smith have participated in multiple conference calls with US Bank staff to better understand our potential downside risk and they appear comfortable with our current position with US Bank.
Going forward Garth Flint has submitted to the Investment Committee a “transition plan” to implement our updated asset allocation plan. We are not going to deviate from our current investment strategy as we are long term investors. We are currently positioned to benefit from the downdraft in the markets due to the conservative tilt in our portfolio. We will closely monitor and stay abreast of developments in the capital markets as they unfold.
VICE PRESIDENT’S REPORT
1) Robert Steinbacher referred to the upcoming conferences and reminded the Trustees to book their flights if they hadn’t already.
ADMINISTRATIVE COMMITTEE REPORT
Chairman David Peters presented the following motions.
The committee recommends and I so move to approve the usual and customary bills in the amount of $1,650,560.56. There was no discussion or objections.
Motion carried to approve the usual and customary bills in the amount of $1,650,560.56.
The committee recommends and I so move to approve the professional fees in the amount of $40,439.24. There was no discussion or objections.
Motion carried to approve the professional fees in the amount of $40,439.24.
The committee recommends and I so move to establish a new position of Member Services Coordinator. David Peters stated that this individual will take on the supervisory roll of the other staff member in Member Services which will result in more consistent results from the combined work and give increased training to the subordinate member. Todd Layfer mentioned they wanted to increase sufficiency and provide better service to the members by designating a lead person in the Membership Services area. There was no further discussion or objections.
Motion carried to establish a new position of Member Services Coordinator.
Executive Session
The Board entered into Executive Session at 11:58am.
The Board adjourned from Executive Session at 12:29p.m.
David Peters stated that during Executive Session, they had approved the promotion of Ana Salazar to Member Services Coordinator. He also stated that they reviewed and took action on the Executive Director’s bonus. He indicated that Board had directed the President to send certified correspondence to a Trustee.
The committee recommends and I so move to approve a cell phone email allowance of up to $30 per month, effective July 1, 2008. On the question, there was an objection. Twelve voted in favor of the motion, one voted opposed.
Motion carried to approve a cell phone email allowance of up to $30 per month, effective July 1, 2008.
BY-LAWS COMMITTEE REPORT
Chairman Warren Braun recommended that last month’s board action to change how the Pension positions were elected be rescinded.
The committee recommends and I so move to rescind the last month’s motion to have Pension positions be run as a group. There was no discussion or objections.
Motion carried to rescind the last month’s motion to have Pension positions run as a group.
RELIEF COMMITTEE REPORT
Asst. Chair Gary Matsubara presented the following motions.
The committee recommends and I so move to pay the Sick and Injury benefits for active and retired members in the amount of $34,728.71. There was no discussion or objections.
Motion carried to pay the Sick and Injury benefits in the amount of $34,728.71.
The committee recommends and I so move to pay the Estate Planning benefits in the amount of $6,045. There was no discussion or objections.
Motion carried to pay the Estate Planning benefits in the amount of $6,045.
The committee recommends and I so move to pay the Relief Death benefits in the amount of $31,500. There was no discussion or objections.
Motion carried to pay the Relief Death benefits in the amount of $31,500.
The committee recommends and I so move to pay the Life & Accident Death benefits in the amount of $12,000. There was no discussion or objections.
Motion carried to pay the Life & Accident Death benefits in the amount of $12,000.
The committee recommends and I so move to pay the Life & Accident withdrawals in the amount of $10,288. There was no discussion or objections.
Motion carried to pay the Life & Accident withdrawals in the amount of $10,288.
The committee recommends and I so move to support the Tom Kenyon Golf Tournament for five foursomes up to $3,000 to be sponsored directly to the tournament. There was no discussion or objections.
Motion carried to support the Tom Kenyon Golf Tournament for five foursomes at up to $3,000 to be sponsored directly to the tournament.
MEMORIALS
LAWRENCE R. KORCHAK
LESTER D. TEETERS
ROBERT E. WHITELAW
MAX L. BARLOW
EDWIN W. BLANKE
ROBERT J. KELLY
RICHARD G. ROBERTS
ASSISTANCE COMMITTEE
Asst. Chair Gary Matsubara presented the following motions.
The committee recommends and I so move to accept the donations in the amount of $16,207.52 to the Widows, Orphans & Disabled Firemen’s Fund. There was no discussion or objections.
Motion carried to accept the donations in the amount of $16,207.52 to the Widows, Orphans & Disabled Firemen’s Fund.
DONATIONS TO WIDOWS, ORPHANS & DISABLED FIREMEN’S FUND – AUGUST 2008
- DONATION TO REMAIN ANOYMOUS IN MEMORY OF BRIAN PROSSER AND DOUGLAS R. TINER
- FRAMING INC COAST
- JACK M DAVIS IN GRATITUDE FOR MY DURABLE MEDICAL EQUIPMENT
- HEALTHSCOPE BENEFITS IN MEMORY OF NOREEN HENDERSON
- JULIE A LUND IN MEMORY OF CECIL MCLINN
- MALICIA MCLINN IN LOVING MEMORY OF MY HUSBAND CECIL W. MCLINN
- MARCELLA E. ATKINS IN MEMORY OF MY HUSBAND DUDLEY M. ATKINS
- PENELOPE S CERINO
- PATRICIA A. FIERS IN MEMORY OF MY HUSBAND ROBERT FIERS
- JOYCE L. HOWES IN MEMORY OF DOUG MURPHY
- KAREN A. MURPHY IN MEMORY OF MY HUSBAND DOUG MURPHY
- MERRILL E REED IN HONOR OF CAPTAIN FRANK DAVID FOR THE KINDNESS AND CONSIDERATION HE OFFERED ME AT GRASS VALLEY
- THOMAS VIGAR IN MEMORY OF DOUGLAS C. MURPHY
- LISA A. BLACKFORD IN HONOR OF HARRY & JOYCE CORRELL
- RICHARD D. WUERTH IN HONOR OF MY FATHER ROBERT F. WUERTH, RETIRED PORTLAND OREGON FIRE DEPT., 87TH BIRTHDAY
- JAMES P LANGSFELD IN MEMORY OF DOUG MURPHY
- EVA H CROW IN MEMORY OF ROBERT J. FIERS
- DOLORES HAMILTON IN HONOR OF BILLIE BORGMAN WIFE OF RETIRED CAPTAIN BOB BORGMAN
- CLARENCE A WOODBURN IN MEMORY OF EDIE BURDICK & ANNIE CLAPPER 2 VERY DEAR LADIES
- MARY M KEARNS IN MEMORY OF ROBERT KOENIG MY CLOSE FRIEND, WONDERFUL FATHER, AND A CREDIT TO THE DEPARTMENT
- JANEAN A DANIELS IN RECOGNITION OF FIRE STATION 61 EFFORTS IN THE GAP FIRE
- DENNIS L MENDENHALL IN MEMORY OF DOUG MURPHY
- WILLIAM E. STANTON IN GRATITUDE FOR THE USE OF A WHEELCHAIR FOR MY 101 YEAR OLD GRANDMOTHER
- MAC TREASURE IN MEMORY OF STEVEN P. CLARK
- FIRE STATION 56 FROM OUR FIRE EXTINGUISHER FUND
- FIRE STATION 65 FROM OUR FIRE EXTINGUISHER FUND
- DELBERT C THOMPSON IN MEMORY OF LARRY KORCHAK
- DELBERT C THOMPSON IN MEMORY OF ROBERT KELLY
- GLADYS IREMONGER IN MEMORY OF BOB FIERS
- JOHN E KNIERIM IN MEMORY OF OUR DEAR FRIEND LORETTA DEMPSEY WIFE OF TOM DEMPSEY
- AUDREY M RENSLEN IN MEMORY OF BOB FIERS
- LEO R MULLER IN MEMORY OF LAWRENCE R. KORCHAK
- SUSIE MAJESKY IN MEMORY OF DOUG MURPHY
- ELISSA M. COLLIER IN MEMORY OF LAWRENCE RICHARD KORCHAK
- MERRILL E REED IN MEMORY OF DOUG MURPHY
- EVIE ANGUIANO
- WINIFRED MARICICH IN MEMORY OF LAURENCE R. KORCHAK
- CATHERINE M NAEGLE IN MEMORY OF JOHN NOLAN AND PEGGY PLUMLEE, JACK PLUMLEE’S WIDOW
- STEPHANI M. GARRIDO IN MEMORY OF DOUG MURPHY
- IRENE ENGELSIEPEN IN MEMORY OF BOB FIERS
- LEI AIKO LUM IN MEMORY OF VERNA BEAVER
- NORMAN STEPHENS IN MEMORY OF NOREEN HENDERSON A GREAT CAKE BAKER WIFE OF ROBERT HENDERSON
- CHARLES W COZAD IN MEMORY OF ROBERT FIERS
- EDWARD ROZESKI IN MEMORY OF ROBERT KELLY
- GEORGE J EARLY IN MEMORY OF LAWRENCE R. KORCHAK
- CATHERINE ALDANA
- LUCILLE A PIERSON IN MEMORY OF BOB FIERS
- PATRICIA M ROBBINS IN MEMORY OF JIM DANSKIN
- HAROLD C. MARKOW IN MEMORY OF ROBERT FIERS
- PATRICIA A. FIERS IN MEMORY OF MY HUSBAND ROBERT FIERS
- DALE R. BOOTH
- MICHAEL TOBEY
The committee recommends and I so move to assist the following applications for Assistance.
Widow requesting medical premiums with a six month review.
Widow requesting medical premiums with a six month review.
Widow requesting medical premiums with a six month review.
Widow requesting medical premiums plus $1,200 per month with a six month review.
Widow requesting $600 per month with a six month review.
Widow requesting medical premiums with a six month review.
Widow requesting $750 per month with a six month review.
Widow requesting $500 per month plus medical premiums with a six month review.
Widow requesting medical premiums with a six month review.
Widow requesting $400 per month with a six month review.
There was no discussion or objections.
Motion carried to approve the above applications for Assistance.
EMERGENCY ADVANCEMENTS
Asst. Chairman Gary Matsubara presented the following motions.
The committee recommends and I so move to approve the following emergency advancements.
Member advancement for a one time $2,000 for mortgage.
Member advancement for a one time $4,576 for mortgage.
Member advancement for $1,000 per month with a six month review.
Member advancement for $4,430 per month with a three month review.
Member advancement for a one time $5,000 for funeral expenses.
There was no discussion or objections.
Motion carried to approve the above stated emergency advancements.
The committee recommends and I so move to approve a reversed mortgage in the amount of $11,780 for assisted living with a mortgage payoff of $3,173 per month with a six month review. There was no discussion or objections.
Motion carried to approve a reversed mortgage in the amount of $11,780 for assisted living with a mortgage payoff of $3,173 per month with a six month review.
EXECUTIVE DIRECTOR REPORT
1) David Smith referred to the Strategic Planning offsite and informed the Board that they would be in Terrace D at the Sheraton Universal.
2) David Smith referred to an insurance risk in that AIG held the fiduciary liability policy for LAFRA. He indicated that they were staying in close touch with the broker and indicated that AIG must maintain their AA rating. He stated that if they get a B rating, they would automatically get a new carrier.
MEDICAL COMMITTEE REPORT
Chairman Michael Overholser presented the following motions.
The committee recommends and I so move to accept the applications to the Medical Plan. There was no discussion and no objections.
Motion carried to accept the applications to the Medical Plan.
ACTIVE
MEMBER APPLICANTS COMING ON PLAN EFFECTIVE DATE
- Aguirre, Frank Aguirre, Francisco I. (Son) 7/15/08
- Bennett, Lee Gordon Bennett, Virginia (Spouse) 9/1/08
- Burton, Christopher Burns, Roberta (Spouse) 10/1/08
- Cecola, Anthony Vincent Cecola, Anthony James (Son) 7/12/08
- Contreras, Don Miguel Contreras, Cindy Paola (Spouse) 9/1/08
- Desallernos, Stephen Gabriel Self 11/1/08
- Diaz, David Fernando Diaz, Mariluz (Dtr.) 7/20/08
- Dilbeck, Jacob D. Dilbeck, Jenny M. (Spouse) 11/1/08
- Garcia, Micahel Self 11/1/08
- Goertzen, Robert John Goertzen, Robert John (Spouse) 8/21/08
- Hamilton, Orrie Murray, Tobie (Fiance) 10/1/08
- Hogan, Clayton J. Hogan, Brooklyn (Dtr.) 7/28/08
- Knabe, Adam Wolfgang Knabe, Emma Joy (Dtr.) 7/29/08
- Knudsen, Eric Knudsen, Marshal M. (Son) 8/1/08
- Massey, Keith Eric Massey, Mary Elizabeth (Spouse) 7/26/08
- Moore, Justin Garrett Moore, Joaquin M. (Son) 8/15/08
- Morales, Jose Morales, Danielle Marie (Spouse) 9/1/08
- Penrod, Ryan Carter Penrod, Carter M. (Son) 7/18/08
- Peralta, William Anthony Peralta, Gabriella L. (Dtr.) 7/5/08
- Peralta, William Ryder (Son) 7/5/08
- Ramos, Gilbert N. Ramos, Cherlynne (Spouse) 8/8/08
- Irizarry, Justine Marie (Step Dtr.) 8/8/08
- Lind, Brandon (Step-Son) 8/8/08
- Reddy, Michael Perry Clayton, Kimberly R. 10/1/08
- Clayton, Tyra D. (Step-Child) 10/1/08
- Resendez, Adam M. Resendez, Emilio A. (Son) 7/24/08
- Sandoval, Daniel Paul Sandoval, Mia Bella (Dtr.) 9/8/08
- Tarango, Ian Michael Tarango, Sophia Grace (Dtr.) 8/11/08
- Tavera, Christopher Tavera, Shannon (Spouse) 8/1/08
- Velzasquez, Omar Arturo Velasquez, Ariann V. (Dom Partner) 8/1/08
- Wallace, Ryan Dean, Daniells (Dom. Partner) 10/1/08
- Webber, Matthew P. Self 11/1/08
RETIRED
- Hibbard, Jeffrey Don Kehoe, Martha Ann (Dom. Partner) 9/1/08
ROOKIES
MEMBER APPLICANTS COMING ON PLAN EFFECTIVE DATE
- Belknap, Barry Eugene Self 9/22/08
- Belknap, Amy (Spouse) 9/22/08
- Brown, Emanuel Jason Self 9/22/08
- Buddemeyer, Bruce Self 9/22/08
- Dick, Bryan Self 9/22/08
- Durham, Anthony Self 9/22/08
- Felder, Eriq La’Shown Self 9/22/08
- Felder, Kamala (Spouse) 9/22/08
- Felder, Skyy (Dtr.) 9/22/08
- Figueroa, Arthur Jr. Self 9/22/08
- Giovanini, John Michael Self 9/22/08
- Godoy, Javier Self 9/22/08
- Godoy, Christian (Son) 9/22/08
- Godoy, Bella Elisabeth 9/22/08
- Hahn, David Self 9/22/08
- Hill, Matthew G. Self 9/22/08
- Juarez, Raymond Jesus Jr. Self 9/22/08
- Kile, Brandon Wright Self 9/22/08
- Kile, Rosemarie (Spouse) 9/22/08
- Lopez, Jorge Miranda Self 9/22/08
- Lozano, Albert Christopher Self 9/22/08
- Lusk, Justin W. Self 9/22/08
- Lusk, Juniper (Spouse) 9/22/08
- Lusk, Mackenzie (Dtr.) 9/22/08
- Mercier, Stephen C. Self 9/22/08
- Ochoa, Ramon Self 9/22/08
- Parsons, Jon Self 9/22/08
- Pitts, Derwin Self 9/22/08
- Raabe, Jacob Self 9/22/08
- Randolph, Anthony Self 9/22/08
- Reichardt, Kurt Alexander Self 9/22/08
- Reidel, Mark Richard Self 9/22/08
- Round, Richard Self 9/22/08
- Snyder, Zachary L. Self 9/22/08
- Snyder, Nichole Rae (Spouse) 9/22/08
- Stalter, Chris Self 9/22/08
- Turner, Patrick Robert Self 9/22/08
- Vesey, Angela Self 9/22/08
- Villa, Robert Self 9/22/08
- Webester, Jerrod Self 9/22/08
- Webster. Robin (Spouse) 9/22/08
- Weaver, Shane Eric Self 9/22/08
- White, Ryder A. Self 9/22/08
- Woo, Thomas Self 9/22/08
- Woo, Mary (Spouse) 9/22/08
OPEN ENROLLMENT
MEMBER APPLICANTS COMING ON PLAN EFFECTIVE DATE
- Baker, Stephen Michael Self 7/1/08
- Baker, Jaxon R. 7/1/08
- Baker, Estee M. 7/1/08
- Barrios, Alan P. Barrios, Pamela (Spouse) 7/1/08
- Beck, Jesse Self 7/1/08
- Pearson, Sarah (Spouse) 7/1/08
- Bonar, Ryan Self 7/1/08
- Bonar, Iva K. (Spouse) 7/1/08
- Campana, Pedro A. Self 7/1/08
- Campana, Julian D. (Son) 7/1/08
- Clark, Braxton Self 7/1/08
- Clark, Brandon (Son) 7/1/08
- Cherry, Justin Michael Self 7/1/08
- Cherry, Vanessa N. (Spouse) 7/1/08
- Cullen, Jessica Christine Self 7/1/08
- Dunn, William Self 7/1/08
- Dunn, Alexander (Son) 7/1/08
- Galleano, Melissa J. Self 7/1/08
- Goetze, James Allen Self 7/1/08
- Goetze, Melissa (Spouse) 7/1/08
- Kusar, Jason Paul Self 7/1/08
- Kusar, Maria (Spouse) 7/1/08
- Kusar, Jaden Lynn (Dtr) 7/1/08
- Kusar, Justin Paul (Son) 7/1/08
- Lem, Ronald s. Self 7/1/08
- Lem, Bryan (Son) 7/1/08
- Lew, Wilbert Q. Self 7/1/08
- Lew, Sherrill Higgins (Spouse) 7/1/08
- Meyer, Thomas E. Self 7/1/08
- Middleton, Jennifer Swinney, Karin (Dom. Partner) 7/1/08
- Modster, Rudolph Self 7/1/08
- Modster, Maritess B. (Spouse) 7/1/08
- Modster, Sean W. (Son) 7/1/08
- Modster, Devon L. (Son) 7/1/08
- Mc Eleney, Daniel R. Self 7/1/08
- Newcomb, Bruce Wayne Self 7/1/08
- Newcomb, Karen (Spouse) 7/1/08
- Noonan, Douglas C. Self 7/1/08
- Noonan, Jennifer L. (Spouse) 7/1/08
- Ochoa, Rene Q.` Self 7/1/08
- Olmedo, Gabriel Self 7/1/08
- Olmedo, Natalie J. (Spouse) 7/1/08
- Olmedo, Adriana M. (Dtr.) 7/1/08
- Olmedo, Anthony G. (Son) 7/1/08
- Olmedo, Alexandra T. (Dtr.) 7/1/08
- Opperman, Randall James Jr. Self 7/1/08
- Perez, Sergio I. Self 7/1/08
- Premmer, Daryl M. Self 7/1/08
- Quinn, Scott P. Self 7/1/08
- Lisa, AnnMarie (Dom. Partner) 7/1/08
- Reubens, Rick Self 7/1/08
- Hastings, Lynn (Dom. Partner) 7/1/08
- Rivera, Martin A. Self 7/1/08
- Rivera, Nicolas A. (Son) 7/1/08
- Spears, Michael D. Self 7/1/08
- Shatee, Eric Self 7/1/08
- Terrusa, John L. Self 7/1/08
- Souza, Randolph W. Self 7/1/08
- Souza, Sara F. 7/1/08
- Schlottmann, Jamie Jason Self 7/1/08
- Talamantes, Eric James Self 7/1/08
- Tipton, Corinne B. Self 7/1/08
- Arts. Verna c. (Dom. Partner) 7/1/08
- Ulmer, Bryce Jay Self 7/1/08
- Ulmer, Linda (Spouse) 7/1/08
- Ulmer, Sarah (Dtr.) 7/1/08
- Ulmer, April (Dtr.) 7/1/08
- Vasquez, Adrian Self 7/1/08
RETIRED
- Aubele, Josef Self 7/1/08
- Farmer, Robert Keith Self 7/1/08
- Farmer, Doris (Spouse) 7/1/08
- Farmer, Westley K. (Son) 7/1/08
- Henry, Michael W. Self 7/1/08
- Henry, Adeline P. (Spouse) 7/1/08
- Schenk, Donald W. Self 7/1/08
- Schenk, Gayle A. (Spouse) 7/1/08
- Skinner, Steven Reid Self 7/1/08
- Osgood, Nancy Mae (Spouse) 7/1/08
- Stilson, Patrick Ellis Self 7/1/08
- Stilson, Kateryn E. (Dtr.) 7/1/08
- Stilson, Julie A. (Dtr.) 7/1/08
- Stilson, Connie J. (Spouse) 7/1/08
- Treasure, Malcolm Campbell Self 7/1/08
- Treasure, Michelle R. (Spouse) 7/1/08
The committee recommends and I so move to pay the usual and customary bills in the amount of $466,655.19. There was no discussion or objections.
Motion carried to pay the usual and customary bills in the amount of $466,655.19.
SETTING DATES
1) Strategic Planning Retreat – September 30th – October 1st
2) LAFRA Open House – November 6th
3) Chili Cook Off – November 22, 2008 (7:00a.m. – 2:00p.m.)
4) Holiday Hoorah – December 13th Biltmore Hotel
RETIREMENT DINNERS
1) Steve Norris – September 26th Odyssey Restaurant (Marino)
2) Dennis M. Benkovsky – September 28th Home of Bob Turner
3) Stan Matesich – October 1st Ports O’Call Restaurant (Marino)
4) Will Alderson, Mike Gross, James Just, Richard Miller, Edward Strange – October 3rdOdyssey (Smith)
5) Larry Shipp – October 4th LA Center Studios
6) Robert Vowels – October 7th Simon’s Restaurant
7) G. Expinoza, G. Beckenhauer, M. Martinez, P. Gutierrez, M. Torres, R. Armendariz, J. Loyd – October 10th The Queen Mary
8) Jim Finn – October 13th Sportsmen’s Lodge
9) Jim Sanchez – October 14th Ports O’Call Restaurant
10) James Featherstone – October 15th Kyoto Grand (New Otani)
11) Billy Zaring – October 16th Odyssey Restaurant
12) John “Sparkie” Holloway October 17th Knollwood Country Club
13) Myron Davis – October 28th TBA
14) Thomas Kenyon – November 4th Brookside Country Club
15) David Perez – November 14th Odyssey Restaurant Granada Hills
16) Roger Krueger – November 19th Taix Restaurant
ADJOURNMENT
David Marino entertained a motion to adjourn. Warren Braun so moved. David Ortiz seconded the motion. There was no discussion and no objections.
Motion carried to adjourn in.
The Board of Trustees meeting adjourned at 12:50pm.
David Marino, President