MINUTES OF THE BOARD OF TRUSTEES
May 6, 2015
CALL TO ORDER
President Juan Albarran called the meeting of the Board of Trustees of the Los Angeles Firemen’s Relief Association to order at 9:29 a.m.
ROLL CALL
MEMBERS PRESENT:
Juan Albarran, President
Robert Steinbacher, Vice President
Andrew Kuljis, Secretary
Trustee James Coburn
Trustee Gene Bednarchik
Trustee Rick Godinez
Trustee Mark Akahoshi
Trustee David Peters
Trustee Francisco Hernandez
Trustee Joe Vigil
Trustee Tyler Tomich
Trustee Doak Smith
Trustee Steve Berkery
Trustee Steven Domanski
Trustee Barry Hedberg – Pension
Trustee Tim Larson – Pension
Trustee David Lowe – Pension
Todd Layfer – Executive Director
Liberty Unciano – Controller-Treasurer
MEMBERS ABSENT:
Trustee Chris Stine (Excused)
Trustee Jeff Cawdrey (Excused)
Trustee Chris Hart (Excused)
Trustee Frank Aguirre (Excused)
Trustee David Ortiz (Excused)
Trustee Craig White (Excused)
Trustee Steve Ruda (Excused)
GUESTS:
Dave Wagner, Grapevine Editor
Dennis Mendenhall, Retired
Lee Kebler, L.A. Retired Fire & Police
Bob Olsen, L.A. Retired Fire & Police
INVOCATION & Flag Salute
Rick Godinez led the invocation. David Lowe led the flag salute.
RATIFICATION OF MINUTES
Juan Albarran entertained a motion to ratify and dispense with the reading of the minutes of the Board of Trustees meeting held April 1, 2015. David Lowe so moved. Tim Larson seconded. There was no further discussion or objections.
Motion carried to ratify and dispense with the reading of the minutes and Board actions of the Board of Trustees held April 1, 2015.
PRESIDENT REPORT
1) Juan Albarran provided an update to the 7470 Figueroa building construction and indicated that they have added some additional security measures to enter the building and for access to the stairwells. He stated that they received their first bid for the signage out front and are waiting for the second bid. Todd Layfer provided a timeline of when the move will begin.
2) Juan Albarran informed the Board that there will be a Drill Tower graduation ceremony on May 14th. He stated that the Relief Association will be there to meet with families and provide handouts with information.
3) Juan Albarran indicated that they met with the new Kaiser representatives handling the LAFRA account. He stated that Kaiser has expressed interest in attending one of our Board meetings to observe our operations.
4) Juan Albarran referred to the Town Hall meeting held on March 4th and provided a list of items discussed. The Board reviewed the items and decided on items they would begin to take action.
5) Juan Albarran provided the Policy Book changes for the Board’s review.
6) Juan Albarran reported on the Volunteer Appreciation Luncheon and indicated that they recognized Lydia Andrews as Volunteer of the Year.
AUDIT COMMITTEE REPORT
Tonetta Connor from the Harrington Group provided a summary of results from their 2014 audit. She stated that they tested the systems and processes in the organization to determine vulnerability and risk. Her suggestions for improvement were in the areas of vacation approvals and written documentation of such approvals. She stated that overall, LAFRA received a clean opinion as it relates to the audit.
Doak Smith presented the following motion.
The committee recommends and I so move to approve the 2014 audit as presented by the Harrington Group. There was no discussion or objections.
Motion carried to accept the 2014 audit as presented by the Harrington Group.
INVESTMENT COMMITTEE REPORT
Garth Flint presented the 1st quarter portfolio performance for 2015. He referred to the ranking of stocks by the S & P 500 Index and the YTD return analysis. He indicated that going forward, it’s going to be a challenge for both indexes and active managers because the market is starting to narrow. He did indicate that they have managers that are really good stock pickers and they feel that the portfolio will be fine going forward. He reviewed the international market place and stated that international stocks continue to move up. Garth referred to the growth of the LAFRA fund since inception and indicated that it has grown substantially since 1991. He indicated that the portfolio has outperformed the benchmarks but he noted that the 75% S & P and 25% Barclay has been a challenge. He reviewed the allocation index which is the different asset classes in their respective indexes. He indicated that they don’t have any exceptions in the portfolio except for Symons. He stated that Symons has struggled on their five and seven year performance and indicated that they are on Beacon Pointe’s watch list.
BY-LAWS/POLICY COMMITTEE REPORT
David Lowe presented the following motion.
The committee recommends and I so move to implement the proposed changes to the Policy Book. There was no discussion or objections.
Motion carried to implement the proposed changes to the Policy Book.
EXECUTIVE DIRECTOR’S REPORT
1) Todd Layfer provided an update to Hope for Firefighters and indicated that they have 21 Fire Stations signed up including the Fire Hogs. He reported that we have 12 corporate sponsors and are continuing to cultivate new sponsors at this time. He indicated that we received $67K in sponsorship money; $15K pledged; and in-kind donation from Ralphs at $20K.
2) Todd Layfer reported on the Lane Kemper Softball Tournament and indicated that they now have 17 teams signed up to play.
3) Todd Layfer reported on the stats of the Open Enrollment for the LAFRA Medical Plan.
4) Rick Godinez addressed the Board on Marketing and soliciting members. He provided the LAFRA links developed by the Marketing Department for Trustees to place on their signature lines on their email accounts. He provided the Trustees with information cards to hand out to members at events and retirement dinners. He presented an information flyer that contains the month’s newsletter and showcases the services that LAFRA provides. He also provided a sample of the marketing materials created by the Marketing Department for the Golf Tournament and reported that they netted over $100K at last year’s tournament.
ADMINISTRATIVE COMMITTEE REPORT
Barry Hedberg presented the following motions.
The committee recommends and I so move to pay the usual and customary bills in the amount of $1,925,243.70. There was no discussion or objections.
Motion carried to pay the usual and customary bills in the amount of $1,925,243.70.
The committee recommends and I so move to approve $500 for a pancake breakfast for the Fresno Fire Department. There was no discussion or objections.
Motion carried to approve $500 for a pancake breakfast for the Fresno Fire Department.
The committee recommends and I so move to approve $500 for the Drill Tower graduation ceremony. There was no discussion or objections.
Motion carried to approve $500 for the Drill Tower Graduation Ceremony.
The committee recommends and I so move to approve $200 for the LAFD Civilian Employee Recognition awards. There was no discussion or objections.
Motion carried to approve $200 for the LAFD CER awards.
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.
David Peters reported on the Express Scripts meeting last month and indicated that they discussed issues with service problems with work comp and progress of the EGWP program.
RELIEF COMMITTEE REPORT
James Coburn presented the following motion.
The committee recommends and I so move to pay:
The Sick & Injury benefits in the amount of $22,014.56
The Estate Planning benefit in the amount of $5,500,
The Life & Accident Death Benefits in the amount of $24,000
The Relief Death Benefits in the amount of $40,500.
There was no discussion or objections.
Motion carried to pay the above Relief benefits.
James Coburn read the names of members who recently passed and asked for a moment of silence from the Board.
MEMORIALS
James E. Barr
Robert Lee Aaron
Robert J. Patterson
Lawrence L. Harris
Burton M. Hosterman
Robert A. Moore
Burdette Creath
Horold Myers, Jr.
Donald L. Miller
ASSISTANCE COMMITTEE
James Coburn presented the following motions.
The committee recommends and I so move to accept the donations in the amount of $41,464.23 to the Widows, Orphans & Disabled Firemen’s Fund. There was no discussion or objections.
Motion carried to accept the donations in the amount of $41,464.23 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.
GRAPEVINE/WEB REPORT
David Wagner reported that they have had good participation with the Battalion News thanks to the Trustees. He reported that the Hook & Ladder article will be in the June issue as well as the Lane Kemper Softball Tournament.
SECRETARY’S REPORT
Andy Kuljis reported that they have made some changes on how they report member deaths and how they contact the LAFD when making requests of participation from the department.
SCHOLARSHIP COMMITTEE REPORT
Rick Godinez reported that the essays are currently being graded and indicated that they should know who the winners are by the following week. He stated that they will present the winners at the June 3rd Board meeting.
SETTING OF DATES
1) Lane Kemper Softball Tourn – May 13th
2) LAFRA Pechanga Reunion – May 18 – 22
3) Practice Picnic HFF – May 30th
4) Hope for Firefighters – June 4th
5) Fahrenheit 911 @ FS 88 – June 6th
6) Fire Hog Ride – June 13th
7) Colorado Springs Fallen Firefighter Memorial – September 19th
8) LAFD Memorial – October 11th
9) IFEBP Annual Conference (Hawaii) – November 8th – 11th
RETIREMENT DINNERS
1) Wendell F. Smith – May 8th Odyssey Restaurant
2) Ron Myers – May 9th Seirra La Verne Country Club
3) Gary Makale – May 20th Dalmatians American Club of San Pedro
4) Albert Luna – June 20th The Trump Homes
5) Tim Traurig – June 26th Odyssey Restaurant
ADJOURNMENT
Juan Albarran entertained a motion to adjourn. David Lowe so moved. Rick Godinez seconded. There was no discussion and no objections.
Motion carried to adjourn. The Board of Trustees meeting adjourned at 12:07 p.m.
Juan Albarran, President
