MINUTES OF THE BOARD OF TRUSTEES
November 4, 2010
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 10:54 a.m.
- David Marino, President
- John Jacobsen, Vice President
- Andrew Kuljis, Secretary
- Trustee Jeff Cawdrey – Battalion 1
- Trustee Gene Bednarchik – Battalion 2
- Trustee Juan Albarran, Battalion 3
- Trustee James Coburn – Battalion 4
- Trustee Mark Akahoshi, Battalion 5
- Trustee Tim Larson – Battalion 6
- Trustee Robert Steinbacher – Battalion 7
- Trustee Doak Smith – Battalion 9
- Trustee David Peters – Battalion 10
- Trustee Gary Matsubara – Battalion 11
- Trustee Chris Stine – Battalion 13
- Trustee Michael Overholser – Battalion 14
- Trustee Steven Domanski – Battalion 15
- Trustee Francisco Hernandez – Battalion 17
- Trustee Chris Hart – Battalion 18
- Trustee David Ortiz – Headquarters 1
- Trustee Kurt Stabel – Headquarters 2
- Trustee David Lowe – Pension 1
- Trustee Barry Hedberg – Pension 2
- Trustee Ralph Brownell – Pension 3
- Controller – Todd Layfer
- Trustee Craig White – Battalion 12 (Excused)
- David Ned Smith – Executive Director (Excused)
- Jim Dolan, Asst. Secretary
- Dennis Mendenhall, Retired
- Bob Olsen, L.A. Retired Fire & Police
INVOCATION & Flag Salute
Tim Larson led the invocation.
RATIFICATIONS OF MINUTES
David Marino entertained a motion to ratify and dispense with the reading of the minutes of the Board of Trustees meeting held October 7, 2010. Jeff Cawdrey so moved. Barry Hedberg seconded the motion. 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 October 7, 2010.
1) David Marino presented Liz Denison with a plaque to show the Board’s appreciation for her continued dedication and support to the L.A. Firemen’s Relief Association for the past 20 years.
2) David Marino informed the Board that DME and Death Notices have been readjusted to simplify their automation and distributing.
INVESTMENT COMMITTEE REPORT
Garth Flint of Beacon Pointe Advisors reported on LAFRA’s investments for the 3rd quarter. He indicated that recent economic news has been better than expected with corporate earnings and top line revenue above previous forecasts. He mentioned that the source of growth is because 30% of revenues for the S & P 500 are frp, international sales. He reviewed the Executive Summary which covers performance of the investment managers and reflected their performance and percentile rating in terms of LAFRA’s benchmark.
Kurt Stabel reported on the Wilshire 5000 as being a very broad measure of the stock market and indicated that it was up 11.5% during the 3rd quarter. He stated that LAFRA’s overall portfolio was up by 8.6%. He indicated that performance was strong because of our exposure to emerging markets and commodities. He mentioned that one downside was Knightsbridge’s performance, which was very poor, and suggested that going forward we watch them closely.
ADMINISTRATIVE COMMITTEE REPORT
Robert Steinbacher presented the following motions.
The committee recommends and I so move to pay the usual and customary bills in the amount of $984,573.76. He stated that $531K for Kaiser pass through. There was no discussion or objections.
Motion carried to pay the usual and customary bills in the amount of $984,573.76.
The committee recommends and I so move to pay the professional fees in the amount of $59,769.55. There was no discussion or objections.
Motion carried to pay the professional fees in the amount of $59,769.55.
Todd Layfer reported on the October web page status and indicated that there was just under 4,000 visits which 46% were new visitors.
The committee recommends and I so move to approve up to 12 RB Code hours for those working the day of the Open House Event. There was no discussion or objections.
Motion carried to approve up to 12 RB Code hours for those working the day of the Open House Event.
MEDICAL COMMITTEE REPORT
Robert Steinbacher presented the following motions.
The committee recommends and I so move to accept all but one of the applications to the Medical Plan. Robert Steinbacher noted that one of the members trying to enroll was removed from the plan for nonpayment. There was no discussion and no objections.
Motion carried to accept all but one application to the Medical Plan.
EXECUTIVE DIRECTOR’S REPORT
1) Todd Layfer informed that the L.A. County Assessor came to audit records the LAFRA records on property tax paid and also walked through the office. He mentioned that LAFRA may receive a possible refund.
2) Todd Layfer reviewed the 3rd Quarter Financials.
3) Todd Layfer reported a problem with the transition and handling of WODFF donations handled by the Pension’s accounting department. He stated that the department that now handles the deductions for Retirees did not process the deductions due to a lack of training. He reported that the lost amount of the deductions was $2,800.
VICE PRESIDENT’S REPORT
1) John Jacobsen mentioned that he, David Peters and Dawna Gray attended the Pension benefits committee meeting to discuss MOU negotiations. He stated that LAFRA has been shown in an unfavorable view in being uncooperative in moving forward to signing an agreement. He stated that it is difference of opinion on what they can review. He mentioned that the auditor will come to the LAFRA office and review the past audit completed in 2008. He indicated that they will continue to discuss the audit agreement with the Pension Department and will hopefully have it settled by the end of the year.
2) John Jacobsen mentioned that a few Trustees had visited the Columbus, Ohio operations for HealthScope Benefits and met with the designated LAFRA account staff. He also mentioned the new upcoming platform change that will be implemented July 2011. He felt that this transition would be a substantial added value to the medical plan.
3) Jacobsen stated that he was in the process of scheduling the Committee and Board meetings for next year. He also indicated that they will schedule LAFRA events for the year and suggested that they pick a date for the Golf Tournament. He mentioned that the tentative date for the golf tournament was scheduled for September 12th, however, he indicated that Alder’s Golf Tournament has been on that same date for years. He asked that the Board make a decision on a date. The Board decided to hold the LAFD Golf Tournament on September 19th.
Andy Kuljis indicated that they are finalizing and implementing the new automation for the Death Notices. He mentioned that by doing this, it will minimize the work load and simply the process.
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 $49,690.25,
The Estate Planning benefit in the amount of $10,316,
The Life & Accident Withdrawals in the amount of $2,901,
There was no discussion or objections.
Motion carried to pay the above Relief benefits.
Paul F. Dwight
Orval D. Evans
Herbert A. Slafter
Carl R. May
Fred P. Ten Naple
Christopher C. Cook
George E. Dyer
William N. Glenn
Servando A. Ortega
James Coburn read the names of members who recently passed and asked for a moment of silence from the Board.
James Coburn presented the following motions.
The committee recommends and I so move to accept the donations in the amount of $5,325 to the Widows, Orphans & Disabled Firemen’s Fund. There was no discussion or objections.
Motion carried to accept the donations in the amount of $5,325 to the Widows, Orphans & Disabled Firemen’s Fund.
Donations to WODFF for October 2010
- LYNN D ROGERS IN GRATITUDE FOR THE WORK OF LAFRA
- DON & ANN CARTER PROCEEDS FROM MY RECENT RETIREMENT DINNER
- EDWARD GONZALEZ IN MEMORY OF MY WIFE DEBBIE GONZALEZ
- PHILIP JUE IN MEMORY OF DORIS BUSKIRK
- GEORGE R VARTON IN MEMORY OF MY MOTHER LEONA VARTON
- HELEN L SCHULZ
- JOHN J ADAMS IN MEMORY OF CAPTAIN GEORGE E. DYER
- BETTY V. LARSON
- ANNETTE PRIEMER IN MEMORY OF MY HUSBAND OF 68 YEARS DONALD R. PRIEMER
- ED BURZINSKY IN MEMORY OF GLEN E. YORGASON
- JANET ALLEN IN MEMORY OF GEORGE DYER
- FRANCES ANDERSON IN MEMORY OF LEO F. CHRISTENSEN
- PATRICK & MARSHA ENGEL IN MEMORY OF DICK A. ENGEL
- JERRY & ELLEN BROWN IN MEMORY OF DICK A. ENGEL
- RICHARD A ENGEL JR IN MEMORY OF DICK A. ENGEL
- JOHN J. ADAMS IN MEMORY OF STEVE BASCOM
- JEFF SILVER, PH.D
- JOHN W POTTER IN MEMORY OF BILL SANDERSON & BILLY GLENN
- HENRY O HUIZINGA JR IN MEMORY OF BILL SANDERSON & BILL GLENN
- LEO DEMPSEY IN MEMORY OF BILL SANDERSON & BILL GLENN
- HELEN SCHULZ
- RICHARD M. LAWRENCE IN MEMORY OF FIRE CHIEF GARY CLARK
- JOHN L PECEL IN MEMORY OF MARY KLARIN MOTHER OF CII DINKO KLARIN
- RICHARD L. WATTERS IN MEMORY OF GEORGE E. DYER
- KRISTIN DRACHLIS IN MEMORY OF DICK ENGEL MY FATHER-IN-LAW
- LARRY SPEAK IN MEMORY OF CAPTAIN STEVE BASCOM
- DONALD ENGH
- JACK D. CHELL IN MEMORY OF DICK ENGEL AND SAM ORTEGA
- JULIE HEATH IN MEMORY OF WILLIAM GLENN
- GEORGE F DEMOTT IN MEMORY OF CHRIS IRONS
- GEORGE F DEMOTT IN MEMORY OF DEBBIE GONZALEZ
- DAVE & GRACE EVERETT IN MEMORY OF LLOYD PIEST
- JACK M. DAVIS IN MEMORY OF HERB SLAFTER
- RICKEY & ROSALIE NOTTINGHAM IN MEMORY OF JOSEPH ZITKO
- JOAN ANDERSON IN MEMORY OF LEO F. CHRISTENSEN
- GENE & MARTY OLSON IN MEMORY OF SAM ORTEGA
- HENRY O HUIZINGA JR IN MEMORY OF SAM ORTEGA
- ANONYMOUS DONATION
- RICHARD & JERRYNE SOTO IN MEMORY OF JOEY ZITKO
- DONALD J. JESOLVA FROM “RABBIT FIRE GEAR”
- BOB & ETHEL VANDERHAGEN IN MEMORY OF OTTO & MARION FIRGENS
- RICHARD WATTERS FROM THE MONTHLY “BREAKFAST GET TOGETHER”
- DONALD L CATE IN MEMORY OF MY DEAR WIFE LOIS CATE
- JEFF SILVER PH.D
- KAY FOLTA IN MEMORY OF SAM ORTEGA
- HELEN MEGORDEN
- ROY L OGDEN IN HONOR OF PAUL DWIGHT HUSBAND OF PHYLLIS DWIGHT
- LUCY GREGG IN MEMORY OF JOE ZITKO
- JERRY BROWN IN MEMORY OF RICHARD “DICK” A. ENGEL
- RICHARD L GARNER IN MEMORY OF GENE KAMPFF
- STEVE SKELLY
James Coburn stated that the committee will continue to discuss and review the possible Rolland Scholarship.
The committee recommends and I so move to continue the assistance approved at the committee level for active, retired and surviving spouses. There was no discussion or objections.
Motion carried to continue the assistance approved at the committee level for active, retired and surviving spouses.
James Coburn presented the following motions.
The committee recommends and I so move to continue the advancements approved in committee for active, retired and surviving spouses. There was no discussion or objections.
Motion carried to continue the advancements approved by the committee for active, retired and surviving spouses.
Doak Smith stated that the process for the Scholarship Program will change. He indicated that he will send a notice in the Grapevine and the Website to inform the members. He stated that he wanted to simplify the process and perhaps save money on mailings and staff time.
1) Open House – November 6th
2) Annual IFEPB Conference (Hawaii) – November 14th – 17th
1) John Gibbs – November 4th Fire Station 114 – Lowe
2) Clinton Shelton Jr. – November 10th Kyoto Grand Hotel –
3) Robert W. Rebbe, Jr. – November 14th Fire Station 114 – Marino
4) Chris Baker – November 15th The Odyssey Drive – Doak
David Marino entertained a motion to adjourn. David Peters so moved. Tim Larson seconded. There was no discussion and no objections.
Motion carried to adjourn.
The Board of Trustees meeting adjourned at 12:42pm.
David Marino, President