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 10:22 a.m.
ROLL CALL
MEMBERS PRESENT:
Bob Steinbacher, President
Jeff Cawdrey, Vice President
Andrew Kuljis, Secretary
Trustee David Peters
Trustee Gene Bednarchik
Trustee Chris Stine
Trustee Steve Berkery
Trustee John Jacobsen
Trustee Frank Aguirre
Trustee Steve Ruda
Trustee Danny Wu
Trustee Joe Vigil
Trustee Rick Godinez
Trustee Tim Freeman
Trustee Mike Sailhamer
Trustee Tyler Tomich
Trustee Tim Larson – Pension
Trustee Steve Domanski – Pension
Todd Layfer – Executive Director
Liberty Unciano – Controller-Treasurer
MEMBERS ABSENT:
Trustee Chris Hart
Trustee Doak Smith – Pension
Trustee Craig White
Trustee Jim Duffy
Trustee Gayle Sonoda
GUESTS:
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 approve the Board Meeting Minutes of October 4, 2017. David Peters so moved. Tyler Tomich seconded. There was no discussion or objections.
Motion carried to approve minutes Board Meeting Minutes of October 4, 2017.
PRESIDENT REPORT
1) Bob Steinbacher reminded the Board that Open House was Saturday, November 4th from 12:00 noon to 4:00pm.
2) Bob Steinbacher informed the Board that the L.A. Retired Fire & Police holiday celebration will be on December 9th.
3) Bob Steinbacher referred to the LAFRA Dinner Dance on December 9th and asked those interested to sign up on the website and book their rooms.
4) Bob Steinbacher referred to the open enrollment and the changes made to the letters sent to the membership. He indicated that they will have the final numbers for enrollment by the beginning of November.
5) Bob Steinbacher provided an update on the Ad Hoc Pension Committee meeting and indicated that they may be in agreement to cancel the RFP for a medical plan but the issue has not been laid to rest.
6) Bob Steinbacher indicated that they are currently working on the Board and Committee meeting dates for 2018 as well as the special event dates.
EXECUTIVE SESSION
The Board entered into Executive Session at 10:37am.
The Board adjourned from Executive Session at 11:40am.
Legal and personnel matters were discussed during Executive Session. Action was taken on the personnel matter.
INVESTMENT COMMITTEE REPORT
Garth Flint of Beacon Pointe presented the 3rd Quarter investments for the LAFRA portfolio. He reported that the markets have been very strong across the board and indicated that the driving force is the global economic environment. He indicated that we are not seeing inflation even though there is low unemployment due to a variety of reasons. Mike Breller reviewed the manager performance and asset allocations and indicated that they have discussed with the Investment Committee about terminating some of the managers and reallocating those funds.
John Jacobsen reported on a separate investment option with Southwest Value Partners and indicated that they feel that it would be a good opportunity to invest.
John Jacobsen made the following motion.
The committee recommends and I so move to terminate Symons, Wedgwood and Titan and engage with Engaged Capital, Trian and MIG with funding from Titan and move Symons balance into St. James and engage with Southwest Value Partners on a separate investment with $910,800. There was no discussion or objections.
Motion carried to terminate Symons, Wedgewood and Titan and engage with Engaged Capital, Trian and MIG with funding from Titan and move Symons balance into St. James and engage with Southwest Value Partners on a separate investment with $910,800.
VICE PRESIDENT REPORT
1) Jeff Cawdrey reported on the annual IFEBP conference he and Trustees attended.
2) Jeff Cawdrey referred to the election and mentioned some of the changes and edits to the Bylaws.
EXECUTIVE DIRECTOR’S REPORT
1) Todd Layfer reported that he is currently working on the Employer Mandate reporting with the City of Los Angeles to ensure that the members have adequate medical coverage.
2) Todd Layfer reported that they are currently calculating the Transitional Reinsurance fee.
MARKETING & DEVELOPMENT REPORT
Rick Godinez provided an update on the Marketing events and reported that this has been a record breaking year for Golf sponsorships. He indicated that the Marketing Dept. is working on sending “thank you” letters to the sponsors. He reported on the Discovery School fundraiser that so far raised over $20K. He stated that they are currently working on getting runners for the 2018 L.A. Marathon.
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 $978,158.72. There was no discussion or objections.
Motion carried to pay the usual and customary bills in the amount of $978,158.72.
The committee recommends and I so move to approve $250 for the L.A. Retired Fire & Police Annual Holiday Celebration. There was no discussion or objections.
Motion carried to approve $250 for the L.A. Retired Fire & Police Annual Holiday Celebration.
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 $32,068.64
The Estate Planning benefit in the amount of $4,800
The Life & Accident Death Benefit 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.
Steve Berkery read the names of members who recently passed and asked for a moment of silence from the Board.
MEMORIALS
Wayne A. Havron
Jack Vander-Laan
John A. Wilmes
Richard D. Dickens
John F. Gamrat, Jr.
Herbert M. Brunwin
Ray L. Johnson
Anthony La Palio
Ralph G. Nelson
ASSISTANCE COMMITTEE
Steve Berkery presented the following motions.
The committee recommends and I so move to accept the donations in the amount of $5,245.07 to the Widows, Orphans & Disabled Firemen’s Fund. There was no discussion or objections.
Motion carried to accept the donations in the amount of $5,245.07 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.
SECRETARY’S REPORT
Andy Kuljis reported that the election is running as planned and indicated that the ballots have been sent to the members.
SETTING OF DATES
1) LAFRA Open House – November 4th
2) LAFRA Holiday Dinner Dance – December 9th
3) L.A. Retired Fire & Police Holiday Celebration – December 9th
RETIREMENT DINNERS
1) Taylor Gaskins – Saturday, November 11th San Pedro
ADJOURNMENT
Bob Steinbacher 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 12:39 p.m.
Bob Steinbacher, President