Volunteer Firefighter Relief Fund Committee
Regular MeetingNorwich, CT · February 18, 2014
Minutes
City of Norwich
Volunteer Firefighters’ Relief Fund Committee Minutes
130th Meeting
February 18, 2014
The Volunteer Firefighters’ Relief Fund Committee held its 130th meeting on Monday,
February 18, 2014, at 5:00 p.m. in Room 209, City Hall, Norwich, Connecticut.
1. Roll Call
a. Members Present:
Richard Benoit, Taftville
Thomas Quinley, Yantic
Brigid Marks, City of Norwich Human Resources
Joshua Pothier, Assistant Comptroller
Donald Leary, East Great Plain
Red McKeon, Occum/Past Chairman
Anthony Madeira, Deputy Comptroller
b. Members Absent:
Karen Mankowski, Occum
Brian Curtin, City Treasurer
Joseph Kochanski, Laurel Hill
Scott Suplita, P&P Board Appointee
Robert Aldi, Citizen Appointee
Richard Benoit called the meeting to order at 5:10p.m.
2. Review of Investments: Art Meizner could not attend the meeting due to weather. No
changes to the portfolio are recommended at this time. The report will be reviewed in detail
by Committee members between now and the next regularly scheduled meeting.
3. Minutes: the November 18th meeting minutes were reviewed. A motion to accept by Brigid
Marks. Seconded by Donald Leary, approved.
4. Treasurer’s Report: presented by Josh Pothier, reviewed by the Committee. A motion to
accept the report as presented by Thomas Quinley. Seconded by Donald Leary, approved.
5. New Business
a. Election of Officers: Motion made to accept a single ballot cast for the following
slate of officers for the year 2014 by Thomas Quinley. Motion seconded by
Donald Leary, approved. Officers for 2014 are:
Richard Benoit, Chair
Brigid Marks, Co-Chair
Thomas Quinley, Secretary
Josh Pothier, Treasurer
b. Refund Requests:
i. East Great Plain has six (6) requests for refunds:
ii. Yantic has one (1) request for refund: Mike Hodges
City of Norwich
Volunteer Firefighters’ Relief Fund Committee Minutes
130th Meeting
February 18, 2014
iii. Motion made by Thomas Quinley to grant the seven (7) refund requests
when Treasurer’s Office has verified time and refund amounts for each
individual. Motion seconded by Brigid Marks, approved.
c. Bills: None
d. New Applications:
i. East Great Plain has one (1) new applicant: Stephen Grivois. Motion made
to accept applicant into the VFFRF Plan by Thomas Quinley; seconded by
Donald Leary. Approved.
ii. Yantic has one (1) new applicant: Keven Maerkel. Motion made to accept
applicant into the VFFRF Plan by Thomas Quinley, seconded by Brigid
Marks. Approved.
e. Applications for Benefits: None
f. Actuarial Changes:
i. Tim Ryer, Hooker & Holcombe Actuarial Representative, recommended
to the City P&P Board that a new more conservative method be used for
actuarial evaluation. The City accepted the new recommendation.
ii. Josh Pothier proposed that the VFFRF follow the same recommendation
for actuarial review. The recommendation mirrors best practice standards
as advocated by the actuarial industry.
iii. Thomas Quinley made a motion to accept the recommendation starting for
1/1/2014. Motion seconded by Donald Leary, approved.
g. Proposed Changes to Tax Abatement Ordinance:
i. Twenty percent (20%) or twenty (20) hours minimum, mirroring the
VFFRF requirements for participation.
ii. Delete any reference to individual companies’ by-laws requirements for
training.
iii. Action item: Richard Benoit agreed to work with Mike Driscoll,
Corporation Council, to find a sponsor to get on the agenda and present
the recommended changes to the City Council.
h. Five (5) Year Plan Review and Enhancements
i. Motion made to begin VFFRF Plan five year review and recommended
enhancements which will be due no later than January 1, 2015, by Thomas
Quinley. Motion seconded by Donald Leary, approved.
i. Special Meetings: Next special meeting scheduled for Monday, March 17 at
4:30pm.
A motion was made by Thomas Quinley to adjourn the meeting, seconded by Josh Pothier.
Approved.
Meeting adjourned at 1747 hrs.
Respectfully submitted,
Thomas G. Quinley, Secretary
Agenda
To: Members of the Volunteer Firefighter Relief Fund Committee
From: Richard Benoit, Chairman of the Volunteer Firefighters’ Relief Fund
Subject: Regular Meeting #130
Meeting Date: Tuesday, February 18, 2014
Meeting Time: 5:00 p.m.
Meeting Location: Room 209, City Hall
Agenda Items:
1. Call to Order
2. Review of December 31, 2013 investment results by Art Meizner from Hooker &
Holcombe Investment Advisors (to be distributed)
3. Review of minutes from the Special Meeting on November 18, 2013 (available on the
website)
4. Treasurer’s report for the quarter ended December 31, 2013 (attached)
5. Election of officers for 2014.
6. Refund request(s):
a. East Great Plain
i. Jeff Bochese $503.55 ($240 contributions plus $263.55 interest)
ii. Greg Ensling $1,470.68 ($912 contributions plus $558.68 interest)
iii. Lisa Ensling $309.04 ($240 contributions plus $69.04 interest)
iv. Louis Fusaro, Jr. $337.80 ($240 contributions plus $97.80 interest)
v. Charles Newman $431.79 ($396 contributions plus $35.79 interest)
vi. Larry W. Smith $1,315.80 ($1,188 contributions plus $127.80 interest)
b. Yantic
i. Michael Hodges $1,210.33 ($624 contributions plus $586.33 interest)
7. Approval of bills
a. None received.
8. New Members
a. East Great Plain
i. Stephen Grivois
b. Laurel Hill - None
c. Occum - None
d. Taftville - None
e. Yantic
i. K. Maerkal
9. New Applications for Benefits
a. None received
10. Discussion of changes in actuarial assumptions for the 1/1/2014 valuation
a. Reduction in amortization period from 30 years to 25 years for old liabilities and
20 years for new liabilities.
11. Discussion of proposed changes to tax abatement ordinance
12. Adjournment
Please notify Richard Benoit (860) 886-1774 or Brigid Marks (860) 823-3786 if you are unable
to attend the meeting.
City of Norwich
Volunteer Firefighters' Relief Fund
Treasurer's Report
For The Quarter Ended 12/31/2013
X:\Finance\Finance Public\Pension & OPEB Information\Volunteer Firefighter Relief Fund Info\Investment statements\[FY 2013-14 VFFRF cash & investments.xls]Dec
Hooker &
Checking Holcombe Total
Beginning Balance 192,219.95 1,927,608.93 2,119,828.88
Receipts:
Annual City Appropriation - - -
East Great Plain - - -
Laurel Hill 864.00 - 864.00
Occum - - -
Taftville - - -
Yantic - - -
Interest Income 49.68 0.76 50.44
Realized Gains/(Losses) - 1,365.83 1,365.83
Unrealized Gains/(Losses) - 35,341.86 35,341.86
Dividends - 49,482.76 49,482.76
-
Total Receipts 913.68 86,191.21 87,104.89
Transfers Between Accounts - - -
Disbursements:
Refunds 1,473.77 - 1,473.77
Pensions Paid 64,719.00 - 64,719.00
Actuary Fees 1,100.00 - 1,100.00
Postage/ Other - - -
Investment Fees - 462.33 462.33
Total Disbursements 67,292.77 462.33 67,755.10
Ending Balance 125,840.86 2,013,337.81 2,139,178.67
Refund was for Marvin Strout III
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