Volunteer Firefighter Relief Fund Committee

City of Norwich Volunteer Firefighters’ Relief Fund Committee Minutes 139th Meeting February 20, 2018 The Volunteer Firefighters’ Relief Fund Committee held a regular meeting on Tuesday, February 20, 2018, at 5:00 p.m. in Room 209, City Hall, Norwich, Connecticut. 1. Roll Call a. Members Present: Thomas Quinley, Yantic, Committee Chair Joshua Pothier, Comptroller, Committee Treasurer Brigid Marks, Human Resource Director, Committee Vice-Chair Donald Leary, East Great Plain Committee Secretary Shane Dupuis, Taftville John A. John, P&P Board Appointee Karen Mankowski, Occum b. Members Absent: Richard Benoit, Taftville, Past Chair Robert Aldi, Citizen Appointee John Salomone, City Manager Joseph Kochanski, Laurel Hill Ronald Stoltz, Citizen Appointee c. Others Present: Art Meizner, guest, Hooker & Holcombe Thomas Quinley called the meeting to order at 5:00p.m. 2. Art Meizner presented the Hooker & Holcombe reviewed the plan’s 4rd Quarter performance. a. Page 1: U.S. stocks, Large Cap Growth – up 30.2% in the past year. b. Page 2: Emerging markets performed the best out of all sectors last year. c. Page 3: Fixed Income – 0.9% yields moved higher in the last quarter amid renewed interest in inflation. d. Page 5: In 2017 Emerging Markets were up 37.8% e. Page 13: Plan Highlights – 4th Quarter 2017 up 3.8%, 2017 up 15.2% f. Page 14 & 15: Percentage Account Review – i. Reviewed each allocation in detail and determined that no modifications were necessary at this time. ii. All selected funds performed in a consistent, positive manner; exceeded expectations. g. The Plan has done well and we will meet in April; 2018 to review 1st quarter performance. 3. Treasurer Reports: Reviewed as presented by Josh Pothier.  City of Norwich Volunteer Firefighters’ Relief Fund Committee Minutes 139th Meeting February 20, 2018 a. Refund made in October to James West, Jr. of Taftville b. Motion made by Thomas Quinley to accept the Report as presented, seconded by Karen Mankowski. Approved 4. Minutes: Minutes from the November 20, 2017 Regular Meeting were reviewed and it was . requested that the extraneous words at the bottom of page three be removed. a. Motion made by John A. John to accept the revised minutes, seconded by Karen Mankowski, Approved. 5. Communications: None 6. Old Business: None 7. New Business: None 8. Bill Payments: None 9. New Members: Applications were received from Nickolas Guile and Cameron Milton both of EGP, Albert Harrison and Paul Wedge both of Occum. a. The applications were reviewed by the Committee b. Motion made by Thomas Quinley to accept the new members, seconded by Shane Dupuis. c. Vote held, all elected to positions unanimously. 10. New applications for benefits a. Yantic: Raymond M. Henry – March 2018. 20 Years of Credited Service. All paper work has been received with the exception of the Connecticut withholding form which Mr. Henry can deliver to the Finance Department at a later date. b. Motion made by Thomas Quinley to accept the new application for benefits, seconded by Donald Leary. c. Vote held, application accepted, unanimously. 11. Status of actuarial valuation. a. Joshua Pothier contacted Hooker and Holcombe on 6 February for them to start an actuarial review for use in preparing the proposed amount to be inserted in the City budget, he expects a reply by April and will email to all members with the recommendation. b. Thomas Quinley asked that Joshua Pothier convey to Hooker and Holcombe that the fee for services is expected remain the same as was approved by the Committee at its November 20, 2017 meeting. 12. May meeting a. Thomas Quinley stated that he and Donald Leary had conflicts on with the 21 May meeting date.  City of Norwich Volunteer Firefighters’ Relief Fund Committee Minutes 139th Meeting February 20, 2018 b. Motion made by Thomas Quinley to canc el the 5/21/2018 meeting and hold a special meeting on 4/30/2018 instead, seconded by Donald Leary. c. Vote held, all accepted, unanimously A motion was made by Thomas Quinley to adjourn the meeting, seconded by Joshua Pothier Approved. Meeting adjourned at 1741 hrs. Respectfully submitted, Donald Leary, Secretary