MINUTES OF THE BOARD OF TRUSTEES
August 8, 2018
CALL TO ORDER
President Bob Steinbacher called the meeting of the Board of Trustees of the Los Angeles Firemen’s Relief Association to order at 9:34 a.m.
ROLL CALL
MEMBERS PRESENT:
Bob Steinbacher, President
Jeff Cawdrey, Vice President
Trustee Jim Duffy
Trustee Frank Aguirre
Trustee Henry Gasbarri
Trustee Tim Freeman
Trustee Richard Moody
Trustee Gene Bednarchik
Trustee David Peters
Trustee Danny Wu
Trustee Joe Vigil
Trustee Steve Domanski – Pension
Trustee Doak Smith – Pension
Todd Layfer – Executive Director
Liberty Unciano – Controller-Treasurer
MEMBERS ABSENT:
Trustee John Jacobsen
Trustee Steve Berkery
Trustee Tyler Tomich
Trustee Mike Sailhamer
Trustee Gayle Sonoda
Trustee Tim Larson – Pension
Trustee Kenneth Breskin
Trustee Chris Stine
Trustee Rick Godinez
Trustee Craig White
GUESTS:
David Marino, L.A. Retired Fire & Police
Tom Stires, Retired
Jim Dolan, Asst. Secretary
Dave Wagner, Grapevine Editor
INVOCATION & Flag Salute
Tim Freeman led the invocation. Jim Duffy led the flag salute.
RATIFICATION OF MINUTES
Bob Steinbacher entertained a motion to ratify and approve the Board Meeting Minutes of July 11, 2018. Frank Aguirre so moved. Richard Moody seconded. There was no discussion or objections.
Motion carried to approve the Board Meeting Minutes of July 11, 2018.
PRESIDENT’S REPORT
1) Bob Steinbacher provided an update on the Pension Department issue concerning contracts. He indicated that they discussed recusals and indicated that there would be more clarity brought on this issue.
2) Bob Steinbacher referred to the President and Vice President nominations for 2019 and indicated that the floor was open for nominations.
David Peters nominated Bob Steinbacher for President for the year 2019. Gene Bednarchik seconded. There were no other nominations for President.
David Peters nominated Jeff Cawdrey for Vice President for the year 2019. Gene Bednarchik seconded. There were no other nominations for Vice President.
3) Bob Steinbacher referred to the Trustee Elections and indicated that the Group 1 Trustees would be up for election. He informed them that they would need to submit their intent to run by next Board.
4) Bob Steinbacher referred to the upcoming Board Offsite meeting on September 23rd. He indicated that the RF Code will be available for them to use during the meeting and Golf Tournament.
5) Bob Steinbacher referred to this year’s LAFRA Open House and asked the Trustees for nominations.
Jeff Cawdrey motioned to nominate Bruce Galien and Craig White as this year’s Open House Honorees. Richard Moody seconded. There was no further discussion or objections.
Motion carried to honor Bruce Galien and Craig White as this year’s Open House Honorees.
VICE PRESIDENT REPORT
1) Jeff Cawdrey referred to the upcoming annual IFEBP Conference in New Orleans October 14th through October 17th.
2) Jeff Cawdrey referred to the Colorado Springs Memorial and indicated that Mike Sailhamer, Joe Vigil and Tim Freeman would be attending. He indicated that the Sacramento Memorial would be September 13th through 16th and indicated that Bob Steinbacher and Joe Vigil would attend.
3) Jeff Cawdrey presented the Board with the proposed changes for the Bylaws and Policy Book. He indicated that most was language clean up and changes regarding pregnancy leave. He indicated that they also added language to include purchasing memorial plaques for fire stations under the Flag Benefit Policy.
EXECUTIVE DIRECTOR’S REPORT
1) Todd Layfer referred to the Golf Tournament and asked the Trustees to place their names on the signup sheet.
2) Todd Layfer informed the Board that on July 18th the LAFRA and HSB staff attended active shooter training in the LAFRA Board room. He indicated that the instructor was intense and provided PowerPoint presentations on what to do in those types of situations.
3) Todd Layfer referred to the PCORI fee and indicated that this fee was part of the Affordable Care Act and LAFRA was required to pay $2.39 per member. He indicated that LAFRA has one more year to pay this fee.
4) Todd Layfer informed the Board that we have new SPDs available and indicated that these are effective July 2018.
MEDICAL COMMITTEE REPORT
Frank Aguirre presented the following motion.
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 all applications to the Medical Plan.
ADMINISTRATIVE COMMITTEE REPORT
Frank Aguirre presented the following motions.
The committee recommends and I so move to pay the usual and customary bills in the amount of $954,998.23. There was no discussion or objections.
Motion carried to pay the usual and customary bills in the amount of $954,998.23.
The committee recommends and I so move to approve $720 to purchase a foursome of golf and tee sign for the Craig Alder Charity Golf Tournament. There was no discussion or objections.
Motion carried to approve $720 to purchase a foursome of golf and tee sign for the Craig Alder Charity Golf Tournament.
RELIEF COMMITTEE REPORT
Tim Freeman presented the following motion.
The committee recommends and I so move to pay:
The Sick & Injury benefits in the amount of $57,161.36
The Estate Planning benefit in the amount of $10,830
The Life & Accident Death Benefit in the amount of $36,000
The Relief Death Benefits in the amount of $70,000
There was no discussion or objections.
Motion carried to pay the above Relief benefits.
Tim Freeman read the names of members who recently passed and asked for a moment of silence from the Board.
MEMORIALS
William R. Switzer
Alexander T. de Synadinos
Robert Moore
Earl E. Harris
Donald E. Brian
William C. Honohan
Dean E. Murray
Loren D. Prohaska
Melvin L. Leydecker
Robert L. Secor
James J. O’Neill
Thomas J. Young
James N. Jeffery
Peter D. Varnum
ASSISTANCE COMMITTEE
Tim Freeman presented the following motions.
The committee recommends and I so move to accept the donations in the amount of $7,228.59 to the Widows, Orphans & Disabled Firemen’s Fund. There was no discussion or objections.
Motion carried to accept the donations in the amount of $7,228.59 to the Widows, Orphans & Disabled Firemen’s Fund.
The committee recommends and I so move to approve the financial assistance applications for surviving spouses, active and retired members. There was no discussion or objections.
Motion carried to approve the financial assistance applications for surviving spouses, active and retired members.
ADVANCEMENT COMMITTEE REPORT
The committee recommends and I so move to advance funds for both active and retired members. There was no discussion or objections.
Motion carried to advance funds for both active and retired members.
ASST-SECRETARY REPORT
Jim Dolan reported on the deaths of members and spouses from the past month. He asked the Trustees to encourage members to update their beneficiary with the Relief Association.
BYLAWS COMMITTEE REPORT
David Peters presented the following motion.
The committee recommends and I so move to approve the proposed changes to the Policy Book and Bylaws. There was no discussion or objections.
Motion carried to approve the proposed changes to the Policy Book and Bylaws.
EXECUTIVE SESSION
The Board entered into Executive Session at 10:17 a.m.
The Board adjourned from Executive Session at 10:56 a.m.
Personnel and legal matters discussed during Executive Session. Action was taken on revised job responsibilities for certain individuals.
INVESTMENT COMMITTEE REPORT
Garth Flint of Beacon Pointe Advisors presented the 2nd quarter investment review. He reviewed the market performance and how it affected the LAFRA portfolio. He referred to the labor market with low unemployment, wage increases, the current trade war and interest rates. He stated that we should expect inflation but the Federal Reserve’s target is 2% which we are a little above that currently.
SETTING OF DATES
1) LAFRA Board Offsite – September 23rd
2) LAFD Invitational Golf Tournament – September 24th
3) IFEBP Annual Conf. – October 14 – 17
4) LAFRA Open House – November 3rd
ADJOURNMENT
Bob Steinbacher entertained a motion to adjourn. Gene Bednarchik so moved. David Peters seconded. There was no discussion and no objections.
Motion carried to adjourn. The Board of Trustees meeting adjourned at 11:36 a.m.
Bob Steinbacher, President