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LOS ANGELES FIREMEN’S RELIEF ASSOCIATION MINUTES OF THE BOARD OF TRUSTEES April 4, 2012


CALL TO ORDER


President John Jacobsen called the Meeting of the Board of Trustees of the Los Angeles Firemen’s Relief Association to order at 10:10a.m.


ROLL CALL


MEMBERS PRESENT: John Jacobsen, President Juan Albarran, Vice President Andrew Kuljis, Secretary Trustee James Coburn Trustee Jeff Cawdrey Trustee Gene Bednarchik Trustee Chris Stine Trustee Doak Smith Trustee Chris Hart Trustee Craig White Trustee Francisco Hernandez Trustee Steven Domanski Trustee Gary Matsubara Trustee Kurt Stabel Trustee Mark Akahoshi Trustee David Peters Trustee Steve Tufts Trustee Barry Hedberg Trustee David Lowe Trustee Tim Larson


David Ned Smith - Exec. Director Todd Layfer - Controller


MEMBERS ABSENT: Trustee Robert Steinbacher (Excused) Trustee Mike Overholser (Excused) Trustee Rick Godinez (Excused) Trustee David Ortiz (Excused)


GUESTS:


Dennis Mendenhall, Retired Bob Olsen, Retired Fire & Police Bill Quinn, Retired Fire & Police


INVOCATION & Flag Salute


Andy Kuljis led the invocation. David Lowe led the flag salute.


RATIFICATION OF MINUTES John Jacobsen entertained a motion to ratify and dispense with the reading of the minutes of the Board of Trustees meeting held March 7, 2012. David Lowe so moved. David Peters seconded the motion. There was no further discussion or objections.


54 • June 2012


Motion carried to ratify and dispense with the reading of the minutes of the Board of Trustees meeting held March 7, 2012.


MEMBER APPEAL


Jacobsen informed the Board that an ex-member of the Relief Association was present to address the Board and ask to be reinstated as a member of the Relief.


James Coburn provided some insight to the ex-member’s situation and why he chose to no longer be a member of the Relief after his retirement. He also added that the ex-member had been cautioned by the committee about terminating his membership at that time. It was also noted that the ex-member had decided to take his wife’s medical plan after retirement so that he wouldn’t have an out of pocket expense. The member can no longer take his wife’s medical plan now that she is retiring. The member retired at the age of 47. James Coburn informed the member that if he was allowed to be reinstated, he would have to pay the accumulated back dues.


The member appeared before the full Board to state his case. He explained his reasons for not continuing his membership with the Relief. The member was told that he would be informed of the Board’s decision.


James Coburn made the following motion.


The committee recommends and I so move to reinstate the ex-member as a Relief Association member upon payment of back dues. There was no discussion or objections.


Motion carried to reinstate the member as a Relief Association member upon payment of back dues.


PRESIDENT’S REPORT


1) Jacobsen informed the Board that Bill Wick was present and wanted to address the Board about the


upcoming Pension Commissioner election. Bill Wick addressed the Board about his plans for running for Pension Commissioner and spoke on his motivations and qualifications for the position. He stated that he would appreciate any support as individuals from the LAFD.


2) Jacobsen stated that the Open Enrollment materials have already been mailed to the membership. He stated that open enrollment begins April 16th.


3) Jacobsen referred to the six hospitals that were still in negotiations with the Anthem Blue Cross network and indicated that the Medical Committee had decided to honor those particular facilities as a PPO facility until they reached an agreement with Blue Cross. He mentioned that they had sent notifications by website and email to those members affected. He indicated that it was recently learned that those hospitals have reached a contract agreement with Blue Cross, however it has not been placed in writing. It was noted that when the agreement is official we will notify members.


4) Jacobsen indicated that the Pension audit is at its final stages and stated that they have reviewed the draft and made some verbiage changes. He also indicated that they will produce a management report to be included with the audit that states that LAFRA agrees with five of the recommendations, but disagrees with two recommendations.


5) Jacobsen mentioned that the Medical Committee had a meeting yesterday with Medco reviewing various issues as our pharmacy benefit manager. He indicated that we are looking at possible enhanced benefits and efficiencies that Medco would be able to save the medical plan. One of the discussion topics was the merger with Express Scripts. He noted that will should see no impact of this merger in the next year and members will be able to continue to use Walgreens if they desire even though Express Scripts


and Walgreens are having a contract dispute.


6) Jacobsen referred to the DME processing and indicated that HSB has now been processing those claims for about one month. He indicated that the process is working very well and should be seamless to members.


VICE PRESIDENT REPORT


Juan Albarran encouraged the Trustees to attend and spread the word about the upcoming Corbin Bowl event on May 6th, C Shift.


INVESTMENT COMMITTEE REPORT


Kurt Stabel provided a write up of the Investment Committee activities for the Board’s review. He mentioned that they visited potential and current fund managers in New York to talk with these companies to determine their investment strategies. He referred to the Titan managers and stated that they provided a solid view of their process and indicated that he felt comfortable with their arrangement.


EXECUTIVE DIRECTOR’S REPORT


1) David Smith mentioned that they had their first Hope for Firefighters Executive committee meeting. He reported that they have received a pledge from US Bank as the event’s Silver Sponsor with a donation of $15,000. He mentioned that Juliet has been working with the fire stations to sign up and cook in the booths. So far, 14 stations have signed up. He stated that the Muster picnic will be on Saturday, May 19th at Fire Station 27. He mentioned that they have asked the committee to do without the presale of fire bucks because it was hard to get staffed and had poor sales results. He stated that the committee has agreed to have the building offices to do the presales of the fire bucks. He indicated that they are considering having two lines at the popular food booths and asking fire stations to make more food. He mentioned


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