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									Dallas Police & Fire Pension System




                                      Volume 2011.10 — October 2011

                                      2012 Budget Up for Board Review and Approval
                                      By Steve Umlor, Police Trustee and Vice Chairman

                                      After the Trustee Elections   2012 that will serve all our    sultant fees and
                                      earlier this year, Chair-     needs with only a minimal       custodial bank Steve
                                      man George Tomasovic          increase.                       fees. This bud- Umlor,
                                      appointed me as the Chair-                                    get has increased Vice Chairman
                                                                    The budget is basically bro-
                                      man of the Administrative                                     0.7% for 2012
                                                                    ken into three parts. First,
                                      and Audit Advisory Com-                                       compared to 2011. The
                                                                    the Administrative Ser-
                                      mittee. George had previ-                                     last, and most expensive
                                                                    vices Budget includes the
                                      ously chaired that commit-                                    component of the budget,
                                                                    basic expenses to oper-
                                      tee for several years and                                     is Investment Management
                                                                    ate the System including
                                      did an exceptional job of                                     expenses. Generally, the
                                                                    wages and office expenses.
                                      watching over the annual                                      managers hired by the pen-
                                                                    That part of the budget was
                                      budget process. This year,                                    sion system to invest on our
                                                                    reduced by 0.5% as com-
                                      that task became mine.                                        behalf are paid based on the
                                                                    pared to 2011. The Profes-
                                      The Board and Staff have      sional Services portion of      amount of assets they man-
                                      worked diligently in put-     the budget is made up of        age. Many are paid based
                                      ting together a budget for    primarily legal fees, con-       See “2012 Budget” on page 2



                                      Retirement and the City’s Phase Down Program
                                      By Rick Salinas, Deputy Vice Chairman, Fire Trustee
                                      There has been much           uniformed members of the        paid out over a
                                      confusion over a Member’s     Dallas Fire Rescue and          specified period Rick
                                                                                                                       Salinas
                                      status when a Member          Dallas Police Departments.      of time and Dep. Vice Chairman
                                      elects the “Phase Down”       This     program      allows    purchase health
                                      program. The Meet and         the retiring Member an          benefits at the
                                      Confer Agreement, which       opportunity to leave active     active employee rate for the
                                      was effective in October      employment       with     the   period of time the Member
                                      1, 2010, included the         Department, but have his/       is on the Phase Down.
                                      Phase Down Program for        her available leave balances    See “Phase down” on page 2
2 0 12 Bu dget                         sion system, the Board takes      to see more Members, both
(Continued from page 1)                member input seriously and        Active and Retired, show
                                       has decided to cut the Invest-    up at these meetings during
on how well their invest-              ment Research portion of the      the past year. Sergeant Fred
ment choices do. In other              budget by 25% for the com-        Katani has taken the time to
words, they are paid on a              ing year.                         attend several meetings this
performance based contract,                                              year. I have known Fred
where the more they make               The 2012 Budget will have
                                       its first reading at the Octo-    for several years and highly
for us, the more they make                                               respect him. I asked him a
for their companies. With              ber 13 Board meeting, with
                                       the final reading scheduled       couple of months ago if he
this in mind, you will notice                                            would consider expressing
that portion of the budget             to occur at the November
                                       10 Board meeting. Please          his thoughts on what he has
shows an increase of 5.21%,                                              observed at the Board meet-
as we are hopeful our assets           review the 2012 budget that
                                       is printed in the fold out por-   ings, both pro and con. This
and investments will signifi-                                            is what he had to say:
cantly increase in 2012.               tion of this newsletter and
                                       plan to attend one of the         As a result of the recent
Over the past year, your               upcoming board meetings.          changes to the Pension Fund,
e l e c t e d Tr u s t e e s h a v e   We consider the budget item       I have taken it upon myself
attended numerous meetings             at approximately 10 a.m. at       to attend the Pension Board
with members to discuss pen-           each of these two meetings.       meetings to become more
sion related issues. One issue                                           involved and educate myself.
that came up several times             As Members, you are always
                                       welcome to attend the regu-       I have attended all Board
was the amount of money                                                  meetings, with the excep-
spent on travel for education          lar monthly Board meeting
                                       that occurs on the second         tion of one, since December
and research. While these                                                of 2010, following the pro-
expenses are vital to the suc-         Thursday of each month. It
cessful operation of the pen-          has been refreshing for me        See “2012 Budget” on page 3




Ph ase D ow n
                                        down. So, when you choose         Meet and Confer Agreement
(Continued from page 1)                 the phase down program,           for details of the program.
Even though it appears the              you retire from the City. If      Dallas Police Department
Retired Member is on the                you are in Active DROP, you       and Dallas Fire Rescue
City’s payroll because of               must start to receive your        Department        uniformed
the periodic payments of the            pension or defer payments         members should contact their
leave balances, the terms               into Retiree DROP.                respective Human Resources
of the program clearly state            Before electing the phase         Generalist for any further
that the Member terminates              down, be sure to contact a        questions.
employment and is no longer             Pension benefits counselor
a City employee when the                to discuss your retirement        Rick Salinas
                                                                          Deputy Vice Chairman
employee leaves active                  benefits and options. You may
                                                                          Fire Trustee
service and elects the phase            see pages 15 thru 18 in the
                                                      2
         For more budget details and more, fold out here.

2 0 12 Bu dget                    from the truth.                  our Pension Fund Adminis-
(Continued from page 2)                                            trative staff the highest and
                                  At the Board meetings that
                                                                   most feasible wages to con-
                                  I have attended, there have
posal of the recent Amend-                                         tinue working for US. They
                                  been numerous fund man-
ment. I have attended these                                        do a great job. If you don’t
                                  agers providing updates on
meetings on my own time,                                           think so, I invite you to attend
                                  our investments. The Pen-
not the City’s time. This                                          the Pension Board meetings
                                  sion Fund is extremely diver-
was solely due to my anger                                         with me and look outside the
                                  sified and has investments
with the reinstatement of the                                      box.
                                  all over the world. Travel
employee contributions to
                                  by Pension Board members         Fred Katani
the Pension Fund (for DROP
                                  to the locations where these     Badge # 4651, DPD
Members). My perception
                                  investments are located is
of the Pension Fund prior to                                       I wish to personally thank
                                  extremely crucial in order to
attending these meetings was                                       Fred for his involvement
                                  provide accurate Due Dili-
that there was a tremendous                                        and watching over the pro-
                                  gence reports on the fund’s
amount of waste on behalf                                          ceedings of the meetings. I
                                  performance in these vari-
of the Pension Board staff                                         encourage all of you to take
                                  ous sectors. It also lets the
and Pension Administration,                                        an active role regarding your
                                  companies know that we care
specifically in the area of                                        pension. We are all in this
                                  about our investments. If
travel. I became a skeptic of                                      together and everyone’s input
                                  the Fund has $50 million of
the Pension Board, and made                                        counts. As always, please
                                  our money invested in a for-
demands that travel expendi-                                       feel free to contact any Board
                                  est in Uruguay, is the Board
tures be reduced. I felt that                                      member with any questions
                                  only obligated to check on
everyone (Pension Board and                                        or concerns you may have.
                                  the progress of OUR invest-
Administrative Staff employ-
                                  ment?
ees) should have to put up
with the burden that we are       The fact is that we have the     Steve Umlor
going to have to endure. This     BEST public pension system       Vice Chairman
                                                                   Police Trustee
couldn’t have been further        in America! We need to pay


Chief Burns Retires After Over Five Years at Dallas Fire-Rescue
         Chief Eddie Burns,       and has worked in the fire       praise the men and women
         S r. r e t i r e d o n   service a total of 32 years.     of the department. He said,
         September 1 after                                         “The body of work done over
                                  “I appreciate very much the
         serving as Dal-                                           the past few years has been
                                  opportunities that the City of
         las Fire Chief for                                        inspiring and a true team
                                  Dallas has given me to serve
over five years. He previ-                                         effort by all of the members
                                  as Fire Chief,” Burns said.
ously served in Fort Worth,                                        and supporters of DFR.”
                                  Chief Burns was quick to
                                               3
    Dallas Police and Fire Pension System 2012 Proposed Budget


       Administrative Budget                                                                            Professional Services Budget


DESCRIPTION                                                     PROPOSED BUDGET                    DESCRIPTION                                                   PROPOSED BUDGET


SalaRIES & BENEfITS ...................................................... 3,633,751               NON-INVESTMENT MaNaGEMENT EXPENSES:
                                                                                                   aCTUaRIal SERVICES .................................................... 162,500
SUPPlIES & MaTERIalS:                                                                              BaNK CUSTODIal SERVICES .......................................... 475,000
OffICE SUPPlIES ................................................................... 75,000         BUSINESS INSURaNCE .................................................... 390,000

POSTaGE ................................................................................ 90,000    ElECTIONS ................................................................................... 0

EDUCaTIONal PROGRaMS ................................................... 34,500                    fINaNCIal MONITORING.................................................... 64,000

Sub-Total Supplies & Mat. ....................................................... 199,500          INDEPENDENT aUDIT ........................................................ 70,000
                                                                                                   INfORMaTION TECHNOlOGY PROjECTS ..................... 150,000

SERVICES:                                                                                          INVESTMENT CONSUlTaNT............................................. 390,000
                                                                                                   INVESTMENT RESEaRCH EXPENSE .............................. 132,000
PRINTING ................................................................................ 75,000
                                                                                                   lEGal fEES ....................................................................... 600,000
DISaBIlITY MEDICal EValUaTIONS ....................................... 5,000
                                                                                                   lEGISlaTIVE CONSUlTaNTS * ........................................ 258,000
COMMUNICaTIONS ................................................................. 85,000
                                                                                                   lEGISlaTIVE CONfERENCES aND MEETINGS ............... 31,000
REPaIRS & MaINTENaNCE .................................................... 37,000
                                                                                                   MISC. PROfESSIONal SERVICES..................................... 53,000
lEaSED EQUIPMENT ............................................................. 34,000
                                                                                                   NETwORK SECURITY ........................................................ 41,000
MEMBERSHIPS ........................................................................ 12,000
                                                                                                   PENSION aDMINISTRaTION SOfTwaRE ....................... 270,000
SUBSCRIPTIONS ....................................................................... 3,500
                                                                                                   REal ESTaTE CONSUlTaNT ............................................ 220,000
CONTINUING EDUCaTION .................................................... 110,000
                                                                                                   RECORDS MaNaGEMENT ................................................. 10,000
MIlEaGE REIMBURSEMENT ................................................... 5,000
STaff DEVElOPMENT ........................................................... 99,000
                                                                                                   SUBTOTal (NON-INV. MGMT EXPENSES) ................... 3,316,500
BUSINESS CONTINUITY ......................................................... 55,000
                                                                                                   SUPPlEMENTal PlaN EXPENSE ....................................(21,815)
CONTINGENCY RESERVE ...................................................... 25,000
                                                                                                   TOTal- (all NON-INV. MGMT. EXPENSES).................. 3,294,685
EMPlOYMENT EXPENSES ....................................................... 2,000
Sub-Total Services................................................................... 637,500
                                                                                                   INVESTMENT MGMT. fEES ......................................... 34,769,783


fIXED aSSETS-GENERal....................................................... 85,000
SUB-TOT a l ....................................................................... 4,555,751
REVENUE fROM SUPPlEMENTal ......................................(29,966)
                                                                                                   The budget will be presented for
T O T a l =====> ................................................................. 4,525,785       public hearing at the October 13 and
                                                                                                   November 10 Board Meetings.

                                                                                         3-a
Special Needs Seminar Scheduled for                                    DATES TO REMEMBER:
Monday, November 7 at Pension System                                  October 13 - Regular Board
                                                                      Meeting
There are certain provisions      sion System Benefits, Guard-
in the Pension Plan that          ianship, Social Security Ben-       October 24-27 - Board / Staff
focus on children with spe-       efits, City of Dallas Health        Annual Workshop
cial needs. If you are the        insurance, and available
                                                                      November 7 - Special Needs
parent of a mentally and/         resources.
                                                                      Seminar
or physically handicapped
                                  A light breakfast and box
child, you may benefit from                                           November 10 - Regular Board
                                  lunch is included. The semi-
attending a Special Needs                                             Meeting
                                  nar is free to Members and
Seminar, scheduled for Mon-
                                  spouses. To register, contact       November 17 - “Prepare for
day, November 7 from 8:30
                                  Ann Matthews at the Pen-            Tomorrow Today” Class
a.m. until 3:00 p.m.
                                  sion System at a.matthews
Topics to be covered include      @dpfp.org or 214.638.3863.          December 8 - Regular Board
Special Needs Trusts, Pen-                                            Meeting

                                                                      December 13 - Quarterly
                                                                      Board Meeting
                                        .
“Prepare for Tomorrow Today” Class : Nov 17
New Educational Opportunity for Members in Early Stages of Career   New Privacy
The Pension System has             Topics covered include           Protections
added a class to our slate of      credit and credit scores,        A law passed by the Texas
educational offerings. Pre-        use of checking and sav-         Legislature last session pro-
pare for Tomorrow Today will       ing accounts, and insurance,     vides new privacy protec-
be held Thursday, November         including life, home and auto    tions for you as a Member of
17, 8 a.m. - 3:30 p.m. The         policies.                        the Pension System. While
class is specifically targeted     A light breakfast and box        the law provided the public
to those Members in the early      lunch is included. The semi-     greater access to financial
stages of their career, primar-    nar is free to Members and       information, the law protects
ily in their twenties and thir-    spouses, but a $30.00 deposit    the release of information
ties.                              is required to secure your       that would identify a specific
With our PREP class geared         registration (refunded at end    member without his or her
toward those who plan to           of class). To register, con-     consent.
retire within the next five        tact Genieva Lopez at the        From this point forward, we
years, we wanted to offer a        Pension System at g.lopez@       will have Members sign a
class for those who recog-         dpfp.org or 214.638.3863.        consent form before printing
nize the importance of earlier                                      their name or photo in our
planning for retirement.                                            newsletter, Website, or other
                                                                    official communications.
                                                 3-b
                                                                                                  FIRST CLASS
                                                                                                    PRESORT
  4100 Harry Hines Blvd.                                                                          U.S. POSTAGE
        Suite 100                                                                                      PAID
    Dallas, TX 75219                                                                               DALLAS, TX
                                                                                                  PERMIT #430

BOARD OF TRUSTEES
 George J. Tomasovic
      Chairman
   Steven H. Umlor
    Vice Chairman
     Rick Salinas
 Deputy Vice Chairman
     Jerry R. Allen
    Samuel L. Friar
    Sheffie Kadane
    John M. Mays
  David A. Neumann
 Richard H. Wachsman
   Thomas L. White
   Daniel W. Wojcik


First Responder
  October 2011

                                                                                 ADMINISTRATION
From the Administrator                                                             Richard L. Tettamant
By Richard L. Tettamant,                                                               Administrator
Pension System Administrator                                                           Brian F. Blake
                                                                                Chief Investment Strategist
                                                                                     Donald C. Rohan
Greetings! We had so much information for you this month that we had             Assistant Administrator
to add an extra fold-out page to the newsletter. This is the time of the year           Mike Taylor
                                                                                  Chief Financial Officer
that the Board looks at the Budget, so please look at Police Trustee Steve
Umlor’s article on page one, and the budget details inside. Also, on page
1, Fire Trustee Rick Salinas explains aspects of the City’s Phase Down            4100 Harry Hines Blvd.
program that have confused some Members.                                                 Ste. 100
                                                                                   Dallas, Texas 75219
The Board meets on the second Thursday of every month, and these meet-                214.638.3863
                                                                                     1.800.638.3861
ings are public meetings.
                                                                                      www.dpfp.org
Remember, we are here to serve you. Our Website at www.dpfp.org is a                    info@dpfp.org
great resource of information. If you have any specific questions or con-          The F i r s t R e s p o n d e r
cerns, feel free to call and talk to a Benefits Counselor.                          newsletter is published
                                                                                         monthly by the
                                                                                      Dallas Police & Fire
                                                                                        Pension System
                                   Richard L. Tettamant                              for all Active Members.
                                   Pension System Administrator
                                                                                     Kevin W. Killingsworth
                                                                                            Editor

								
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