HomeMy WebLinkAboutO-1979-1050 Pertains to the Increase of Firemen's Pension Benefits and the Funding for Such IncreaseKNIC.N."
OFFICE OF
`3i;ir¢nirtt'srttsian (Qanimissiatter
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COw•.�f f�Ow�A i0�-F SAM MOU9TON iTATE OFFICE iUILOIN6 T{LEFwowE aTi-ii7•
A USTIN. TEXAS 78'701
May 8, 1979
Margie Goyen, Secretary
Firemen's Pension Board
Box III
La Porte, Texas 77571
Dear Mrs_ Goyan:
Enclosed is a copy of City Ordinance No_ 1050, which pertains to
the increase of firemen's pension benefits and the funding for such
increase. Please refer to Section 4 which is outlined for your
consideration_ It appears that this funding was not made for 1978,
according to the annual report. A copy of Form C is also enclosed
Toy- your reference.
Please let us know what the situation with your pension fund is as
we are very concerned about this matter_ Unless we have overlooked
something, your city will be required to fund an amount necessary to
cover 1978 and 1979 to meet the obligations of the actuarial study.
We would appreciate a reply as soon as possible and please inform our
office as to what measures will be taken to alleviate this problem.
Sincer ly,
LcV
Bill Ste'Fka
Auditor
wes
Encl_: (4)
cc: J_ J. Meza, Mayor
Knox Askins, Attorney
Jack Oliphant, Trustee
FORM C
ANNUAL REPORT 1978
BOARD OF FIREMEN'S RELIEF AND RETIREMENT FUN TRUSTE4CEIVED
LA PORTE , TEXAS 1979
TO: FIREMEN'S PENSION COi4MISSIONER
503-F Sam Houston State Office Bldg. STATE FIREMEN'S
Austin, Texas 78701 PENSION COMMISSIONER
Complying with the provisions of Section 3 of Article 624e, Vernon's Revised Civil
Statutes, 1937, as amended, we submit hereon the Annual Report of the Board of Trus-
tees of the Firemen's Pension Fund for the year ending December 31, 1978.
1. Balance on hand Jan. 1, 1978 (a)
Cash on Hand and in Bank
$
-0 -
(b)
Savings $ Loan Accounts
$
9,766.37
(c)
Bonds, purchase price
$
First City La Porte
Y - (d)
Other Investments*
7,000.00
(Name of Bank) (e)
TOTAL . . . . . . . . . .
.$
6:37
2. Receipts During Year 1978
(a)
Paid into Fund by Paid Firemen . . . . . . . . . . .
.$
(b)
Paid into Fund by City on Paid Firemen Provision
$
(c)
1978 Dues for Volunteer Firemen ...
.$
205.00
(d)
1977-78 Appropriation Warrant # $638229
350.82 _
(e)
Emergency Reserve Fund Warrant#
i
(f)
Transfer of Dues
(g)
Miscellaneous Receipts . . . . .
$
(h)
Donations . . . . . . . . . . . . . . . . . . . .
$
(i)
Interest on Bonds . . . . . . . . . . . . . . . . . .
$
(j)
Interest on Savings . . . . . . . . . . . . . . . . .
$
237.16
(k)
Interest on Other Investments . . . . .. . . . . . .
$
(1)
TOTAL RECEIPTS During Yerr 1978 (Items 2a thru k) . .
$
792.98
3. TOTAL RECEIPTS (Items l(e) plus 2(1) . . . . . . . . . . . .
. w
17, 559. 35
4. LESS DISBURSEMENTS DURING YEAR 1978
(a)
Paid on Service Retirement Benefits . . . . . . . . .
$
6,450.00
(b)
Paid on Disability Benefits . . . . . . . . . . . . .
$
(c)
Paid on Widow's Benefits . . . . . . . . . . . . . .
$
3,250.00
(d)
Paid on Children's Benefits . . . . . . . . . . . . .
$
(e)
Paid on Off -Duty Coverage (Section 7-A)
Disability $
Widows $
Children $ .TOTAL 7-A
$
(f)
Transfer of Dues . . . .. . .
. $
(g)
Refund . . . . . . . .
$
(h)
TOTAL DISBURSEMENTS FOR YEAR 1978 . . . . . . . . . . $
9,700.00
S. AMOUNT
ON HAND DECEMBER 31, 1978 (Item 3 minus Item 4(h) . .
$
Item 5 consist of: Cash on Hand and in Bank $ 430.49
Savings $ Loan Accounts $253.53
Bonds (Purchase Price) $
*Other Investments $
ATTEST:
Sec.-Treas�d o rustees t4ayor-Chairman, B
. of
Trustees
*Attach a
complete list of other Q o
investments
and of Savings G Loan
Accounts giving
amount in each. Vi airman, Bd, of
Tru
T
ORDINANCE NO. 1050
AN ORDINANCE INCREASING THE FIREMEN'S PENSION.BENEFITS;
APPROVING AN ACTUARIAL STUDY AND VALUATION; MAKING APPRO-
PRIATIONS THEREFOR; AND PROVIDING AN EFFECTIVE DATE HEREOF.
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF LA PORTE:
Section 1. Pursuant to the Firemen's Relief and Retirement
Law, known as Article 6243e, Vernon's Civil Statutes of Texas,
as amended, the City Commission of the City of La Porte hereby
increases the Firemen's Pension Benefits as follows, to -wit:
1. A11__participating members shall receive an increase
in service retirement benefits (Section 6) and on -duty dis-
ability benefits (Section 7) from $25 per month to $50 per
month.
2. All participating members shall receive a 200 per
cent increase in death benefits (Section 12) for widows from
$16.66 per month to $50.00 per month, and a 100 per cent
increase in death benefits (Section 12) for children from
$6.00 per month to $12.00 per month where a widow is receiv-
ing a benefit or from $12.00 per month to $24.00 per month
where no widow is receiving a benefit. These benefits shall
be paid where death is a result of performance of duty, or
occurs after service or disability retirement, or results
.from any cause after qualification for a pension certificate.
3. All people receiving pensions (retired volunteer
firemen, widows of deceased volunteer firemen and children
of deceased volunteer firemen) shall receive an increase in
their pensions as follows:
a. Retired volunteer firemen - 100 per cent
increase from $25 per month to $50 per month.
b. Widows of deceased volunteer firemen - 200
per cent increase from $16.66 per month to
$50.00 per month.
C. Children of deceased volunteer firemen - 100
per cent increase from $6.00 per month to
$12.00 per month where the widow is receiving
.,. n.�+a.vvR'w�r+*..fF4�'ae eaiYRl�l!`•R3.wr^s "' -
-dinance No. 1050 , Page 2.
a be-nefit and frog. $12.00 per month to
$2.4.00 per month where no widow is re-
ceiving a benefit.
Section 2. The City Commission of the City of La Porte
.ereby approves the actuarial study and valuation by Rudd
nd Wisdom, Consulting Actuaries, dated August 20, 1976, a
.rue and correct copy of which is attached hereto as
xhibit "A", incorporated by reference herein, and made a
cart hereof for all purposes.
Section 3. The City Commission of the City of La Porte
hereby approves notification to Firemen's Pension Commissioner,
Mr. Hal Hood, of benefit and eligibility requirement changes
permitted under Section 7F of the Firemen's Relief and
Retirement Law, a copy of which is attached hereto as Exhibit
"B", incorporated by reference herein, and made a part hereof
for all purposes.
Section 4. The City Commission or the City of La Porte
e appropriates from the General Funds of the City of
rte, to the Firemen's Pension Fund of the City of La Porte,
:�reby agrees to make the following annual contributions:
1. $5er member (active volunteer firemen con-
tributing to fund and inactive volunteer
firemen with 20-year certificates), and
3. $10,429 per year for the 20-year period
beginning October 1, 1976, and ending
September 30, 1996.
Such appropriations to supplement other funds available to
said Firemen's Pension Fund.
Section 5. This Ordinance shall be in full force and
effect immediately upon its passage and approval. The
increased pensions and benefits authorized hereunder shall
be effective as of October 1, 1976.
i
Ordinance No. 1050 , Page 3.
PASSED AND APPROVED, this the 20th day of September,
A.D. 1976.
CITY OF LA PORTE
J. J. Meza, Ma .or
ATTEST:
a
City Clefk
APPROVED:
City Attorney