MINUTES OF THE BOARD OF TRUSTEES
December 7, 2016
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 10:40 a.m.
ROLL CALL
MEMBERS PRESENT:
Bob Steinbacher, President
Jeff Cawdrey, Vice President
Andrew Kuljis, Secretary
Trustee Frank Aguirre
Trustee Mark Akahoshi
Trustee Juan Albarran
Trustee Gene Bednarchik
Trustee Steve Berkery
Trustee Tim Freeman
Trustee Mike Sailhamer
Trustee Rick Godinez
Trustee John Jacobsen
Trustee David Peters
Trustee David Ortiz
Trustee Chris Stine
Trustee Tyler Tomich
Trustee Joe Vigil
Trustee Steven Domanski – Pension
Trustee Doak Smith – Pension
Trustee Tim Larson – Pension
Todd Layfer – Executive Director
Liberty Unciano – Controller-Treasurer
MEMBERS ABSENT:
Trustee Chris Hart (Excused)
Trustee Steve Ruda (Excused)
Trustee Craig White (Excused)
GUESTS:
James Coburn, Retired
David Lowe, Retired
Dave Wagner, Grapevine Editor
Jim Dolan, Asst. Secretary
Tom Stires, Retired
INVOCATION & Flag Salute
Rick Godinez led the invocation. Tyler Tomich led the flag salute.
RATIFICATION OF MINUTES
Bob Steinbacher entertained a motion to ratify and dispense with the reading of the minutes of the Board of Trustees meeting held November 2, 2016. Juan Albarran so moved. David Ortiz seconded. There was no further discussion or objections.
Motion carried to ratify and dispense with the reading of the minutes of the Board of Trustees meeting held November 2, 2016.
PRESIDENT REPORT
1) Todd Layfer provided the election results and indicated that both of the proposed Bylaw changes had passed. He indicated that the changes in the Bylaws reflected the Oath of Office and Teleconferencing for meeting.
Bob Steinbacher entertained a motion to approve the election results. Juan Albarran so moved. David Peters seconded. There was no discussion or objections.
Motion carried to approve the election results.
2) Bob Steinbacher indicated that Gayle Sonoda will be a new LAFRA Trustee beginning January 2017. He indicated that there will be a new active Trustee position available in January as well.
3) Bob Steinbacher referred to the Mike Reddy funeral services and thanked Steve Berkery, Rick Godinez and the chaplains for their efforts and assistance to the Reddy family.
4) Bob Steinbacher referred to the LAFRA Open House and indicated that it was a successful event and well attended.
5) Bob Steinbacher provided and update on the Pension Department meeting held November 17th.
6) Bob Steinbacher referred to the LAFRA 110th Anniversary Dinner Dance and indicated that they have had an overwhelming response.
7) Bob Steinbacher informed the Board that the Investment Allocation Review meeting will be held on January 24, 2017. He stated that the Annual Investment Committee onsite meeting will be held at Beacon Pointe in Newport Beach on February 15, 2017.
8) Bob Steinbacher referred to the 2017 Committee assignments and asked Trustees to let him know if they would like to change their committees.
9) Bob Steinbacher stated that the 2017 Board and Committee Dates have been provided.
INVESTMENT COMMITTEE REPORT
Derek Newcomer of Beacon Pointe Advisors presented an investment opportunity to the Board with Angelo Gordon Direct Lending Fund II, L.P. He provided some background on Angelo Gordon Co., their capabilities and past performance.
Steve Domanski motioned to approve investing with Angelo Gordon Direct Lending Fund II, L.P. David Peters seconded. John Jacobsen asked Derek Newcomer to provide further information on one of the investment managers. Derek Newcomer stated that he would provide the information requested. Bob Steinbacher asked if the Board wished to table the motion to approve. The consensus of the Board was to move forward pending clarification from Derek Newcomer. There was no further discussion or objections.
Motion carried to approve investing with Angelo Gordon Direct Lending Fund II, L.P.
VICE PRESIDENT REPORT
1) Jeff Cawdrey referred to the IFEBP Conference in Orlando and indicated that he brought back some literature for Trustees.
2) Jeff Cawdrey referred to the Affordable Care Act and prescription drug fraud. He reported that LAFRA is working with PSG for an audit of the prescription drug plan with Express Scripts.
3) Jeff Cawdrey informed that the Investment Institute Conference will be March 13th thru 15th 2017 in Phoenix, AZ. He also indicated that the Annual IFEBP Conference will be held in Las Vegas on October 22nd through October 25th.
EXECUTIVE DIRECTOR’S REPORT
1) Todd Layfer referred to the Social Security harvesting project done each year and indicated that this year we are seeking 89 members for their social security numbers. He indicated that the majority is for newborns from this year.
2) Todd Layfer referred to Open Enrollment and reported that 48 individuals joined the medical plan.
3) Todd Layfer asked the Trustees to submit their expense reports before the end of the year.
4) Todd Layfer informed the Board that we are currently providing information to the City’s Personnel Dept. to comply with the Employer Mandate reporting. He indicated that this provides proof to the IRS that LAFD/LAFRA members have healthcare coverage.
5) Todd Layfer informed the Board that the Active member retro refunds for medical premiums will be paid out over two pay periods. He indicated that the City Personnel Dept. is coordinating this process and is responsible for ensuring that deductions and pay are correct.
6) Todd Layfer informed the Board that there will be an increase in Relief Dues in coordination with the pay increase from the MOU. The increases will take place in January 2017 and July 2017. Active Relief dues increase by $2.47 per month and Retirees Relief dues increase by $ .24 per month starting in January.
7) Todd Layfer and Liberty Unciano presented the 3rd Quarter Expenditure review.
ADMINISTRATIVE COMMITTEE REPORT
Tyler Tomich presented the following motions.
The committee recommends and I so move to pay the usual and customary bills in the amount of $1,225,874.43. There was no discussion or objections.
Motion carried to pay the usual and customary bills in the amount of $1,225,874.43.
The committee recommends and I so move to approve $6K in startup money for the Buzzard Bait Ride. There was no discussion or objections.
Motion carried to approve $6K in startup money for the Buzzard Bait Ride.
The committee recommends and I so move to approve $12K in startup money for the Hook & Ladder Enduro. There was no discussion or objections.
Motion carried to approve $12K in startup money for the Hook & Ladder Enduro.
The committee recommends and I so move to approve $500 for Fire Station 3’s Pancake Breakfast. This fundraiser is for a member’s sick child. There was no discussion or objections.
Motion carried to approve $500 for Fire Station 3’s Pancake Breakfast.
The committee recommends and I so move to approve $1,000 for the Grossman Burn Center Holiday Reunion. There was no discussion or objections.
Motion carried to approve $1,000 for the Grossman Burn Center Holiday Reunion.
MEDICAL COMMITTEE REPORT
David Peters 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.
RELIEF COMMITTEE REPORT
Steve Berkery presented the following motion.
The committee recommends and I so move to pay:
The Sick & Injury benefits in the amount of $15,056.46
The Estate Planning benefit in the amount of $6,000,
The Life & Accident Withdrawals in the amount of $2,404,
The Life & Accident Death benefits in the amount of $24,000
The Relief Death Benefits in the amount of $36,000
There was no discussion or objections.
Motion carried to pay the above Relief benefits.
Steve Berkery read the names of members who recently passed and asked for a moment of silence from the Board.
MEMORIALS
Harry C. Carlson
Richard J. Koenig
Arley V. Tracy
Richard L. Wyckoff
Norman L. Beneke
Francis M. Brown
Walter R. Brey
Earl A. Masoner
ASSISTANCE COMMITTEE
Steve Berkery presented the following motions.
The committee recommends and I so move to accept the donations in the amount of $4,873.47 to the Widows, Orphans & Disabled Firemen’s Fund. There was no discussion or objections.
Motion carried to accept the donations in the amount of $4,873.47 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.
The committee recommends and I so move to approve the Christmas bonuses for the eligible Widows and Orphans. There was no discussion or objections.
Motion carried to approve the Christmas bonuses for the eligible Widows and Orphans.
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.
GRAPEVINE/WEB COMMITTEE REPORT
Dave Wagner informed the Board that we will have the Health Fair at FHMTC on April 6, 2017. He indicated that we are working on getting health screening vendors at the fair.
YEARBOOK COMMITTEE REPORT
David Ortiz indicated that a committee has been created to meet and discuss the style and printing for the yearbook.
SECRETARY REPORT
Jim Dolan informed the Board of a letter from Walter Brey’s widow thanking LAFRA for the flag and photos provided. He mentioned that she had enclosed a donation to the Widows, Orphans & Disabled Firemen’s Fund.
EXECUTIVE SESSION
The Board entered into Executive session at 12:46p.m.
The Board adjourned from Executive session at 1:45p.m.
A personnel matter was discussed but no action was taken.
MARKETING & DEVELOPMENT REPORT
1) Rick Godinez referred to the L.A. Marathon and indicated that the total amount raised so far was $5,000. He indicated that there are flyers available for the fire stations.
2) Rick Godinez reported that the marketing department is currently working on testimonial videos for the LAFRA website.
SETTING OF DATES
1) LAFRA Holiday Party – December 17th
2) Buzzard Bait Ride – January 14th – 16th
3) Hook & Ladder – March 18th
4) Health and Wellness Fair – April 6th
RETIREMENT DINNERS
1) Cori Tipton – Wednesday, January 25th B @ FHMTC (Steinbacher)
2) Tim Freeman – Wednesday, February 22nd C @ The Odyssey (Freeman)
3) Jack Wise – Saturday, April 15th A @ Sagebrush Cantina (Coburn)
ADJOURNMENT
Bob Steinbacher entertained a motion to adjourn. David Peters so moved. Frank Aguirre seconded. There was no discussion and no objections.
Motion carried to adjourn. The Board of Trustees meeting adjourned at 1:50 p.m.
Bob Steinbacher, President
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MINUTES OF THE SPECIAL BOARD OF TRUSTEES MEETING
December 14, 2016
CALL TO ORDER
President Bob Steinbacher called the Special Meeting of the Board of Trustees of the Los Angeles Firemen’s Relief Association to order at 8:57 a.m. The meeting had been noticed to the Board on December 13, 2016.
ROLL CALL
MEMBERS PRESENT:
Bob Steinbacher, President
Jeff Cawdrey, Vice President
Andrew Kuljis, Secretary
Trustee Frank Aguirre
Trustee Juan Albarran
Trustee John Jacobsen
Trustee David Peters
Trustee Gene Bednarchik
Trustee Tim Freeman
Trustee Joe Vigil
Trustee Chris Stine
Trustee Rick Godinez
Trustee Jim Duffy
Trustee Mark Akahoshi
Trustee Craig White
Trustee Tyler Tomich
Trustee David Ortiz
Trustee Tim Larson, Pension
Trustee Steven Domanski, Pension
Trustee Doak Smith, Pension
Todd Layfer – Executive Director
MEMBERS ABSENT:
Trustee Chris Hart (Excused)
Trustee Mike Sailhamer (Excused)
Trustee Steve Ruda (Excused)
Trustee Steve Berkery (Excused)
INVESTMENT BOARD ACTION
Bob Steinbacher informed the Board that they were holding a Special Board Meeting to discuss the previous Board action to approve investing with Angelo Gordon Direct Lending Fund II, L.P.
David Peters motioned to reconsider the action taken at the Board meeting on December 7th regarding approval of investing with Angelo Gordon Direct Lending Fund. Gene Bednarchik seconded. There were no objections.
Motion carried to reconsider the action taken at the Board meeting on December 7th regarding approval of investing with Angelo Gordon Direct Lending Fund.
Additional information was obtained regarding Angelo Gordon Direct Lending Fund II, L.P. and after further deliberations by the Board, a roll call vote was taken and unanimously approved to rescind the previous action to invest with Angelo Gordon Direct Lending Fund II, L.P.
ADJOURNMENT
Bob Steinbacher entertained a motion to adjourn. Juan Albarran so moved. Frank Aguirre seconded. There was no discussion or objections.
The Special Board of Trustees meeting adjourned at 9:52 a.m.