HomeMy WebLinkAboutMINUTES Firemen's Pension Board 1995-06-09B RAOFORD PUBLISHING CO.
RECORD OF PROCEEDINGS
Firemen's Pension Board
June 9, 1995
Board: Mayor Dannels, Fire Chief Rumley, 1st Ass't.
Chief Ford, Treasurer Vavra, Clerk O'Connor
Attending:
Absent:
All
None
Mayor Dannels called the meeting to order at 8:09 A.M.
ACTUARIAL STUDY - PRESENTATION.
Treasurer Vavra submitted an Actuarial Valuation as of January 1,
1995 as prepared by The Actuarial Consulting Group, Inc. The Town
is attempting to conduct such a study every other year. Past
studies have been performed by the william M. Mercer, Inc. firm and
Treasurer Vavra reviewed differing philosophies between both firms.
revenues anticipated for 1995 equal $93,000. The Pension Fund is
acquiring a balance to secure a strong financial position. It was
moved and seconded (Vavra/Ford) the Actuarial Study prepared by The
Actuarial Consulting Group, Inc. be accepted, and it passed
unanimously.
Chief Rumley commented that the Governor signed a new bill
authorizing the State to contribute additional funding into the
Pension Fund. Chief Rumley will obtain and submit additional
information on this item to Treasurer Vavra.
REPORTS.
Treasurer Vavra reported that the $100.00 Death Benefit was
recently issued to the survivor of Don Hoff who passed away in
February, 1995.
The Board reviewed a legal opinion dated February 14, 1995
submitted by Town Attorney White. The Board previously questioned
whether or not an application for pension can be granted by staff
without a meeting of the Board. Pursuant to Section 24-4-105
C.R.S., the granting of a pension necessitates a formal hearing
through the Pension Board. Therefore, the Board will continue to
meet to consider any pension applications.
There being no further business, Mayor Dannels adjourned the
meeting at 8:24 A.M.
0 �l
Vickie O'Connor, CMC/AAE Town Clerk