Nicole Tracy
Reporter
NASHVILLE – Firemen’s pensions,
a review of the 2013 city audit, and
a possible cost of living increase
were major topics discussed at the
Nashville City Council meeting on
Tuesday evening.
The city of Nashville is looking
into possible options to assist the
city’s retired firemen’s pension and
relief fund. The plan in question is
a single-employer defined benefit
pension plan that covers municipal
firemen employed prior to January
1, 1983. The plan, administered
by the city, provides retirement,
disability, and survivor benefits to
retirees and their spouses.
There are eleven retirees and six
survivors on the plan that draw a
total of $48,000 per year. Benefit
and contribution provisions are
established by State law and can
be amended only by the Arkansas
General Assembly. John Turbeville
and Carrie Carr, representatives
with Concert Wealth Management
addressed the Nashville City Council
during the meeting on the topic
and stated that Act 979, enacted in
2011 by the Arkansas State General
Assembly was the reason there was
a cut off in a major part of insurance
turnback funding for the pension
plan.
Turbeville said they want to
avoid invading the principal and
requested the city assist in meeting
the difference to keep the same
level, about $1500 a month. The
fund currently has around $480,000.
City Finance Director Jimmy Dale
pointed out that they want funding
from the city to keep the pension
level, and not cause an increase.
“They’ve had it (the pension)
over the years and each individual
contributed to it, plus the city
matched it and they also got fire
premiums from the state. Act 979
in 2011 stopped a major portion of
the premium coming back to the fire
pensions. As a consequence of that,
they are getting closer to having to
get into the principal. They want the
city to contribute to help maintain
that,” Dale said.
No action was taken and Mayor
Billy Ray Jones said they would consider
the proposal as city officials
start to work on budget preparations
for next year.
The 2013 audit of the
City of Nashville was also
discussed during the meeting.
Jimmy Dale presented
the review, and stated that
“Things are going good for
the city. We did have a few
problems with transfers
of funds being improperly
coded in the finances, but
those problems have been
fixed.” Dale then went on to
say that the city of Nashville
found and recovered
roughly $15,000 in outstanding
checks that had
never been cashed, therefore
were voided, during
the audit process.
The council approved
the audit, and it was passed
11-0.
Two budget workshops
have been set in November
and Mayor Jones proposed
a cost of living raise
for all city employees.
Jones stated that instead
of a three percent raise,
a five percent raise is being
proposed for employees
making less than $13
an hour and a two percent
raise for employees
making more than $13 an
hour. He says this proposal
would allow everyone
to receive the same
raise, while saving the city
money when compared
to giving everyone a flat
three percent raise.
The council approved
and passed Resolution
2015-05, which would keep
the millage rate in the city
the same in 2016 as it was
in 2015. The current rate
is 1.6 mills for the city
from real estate, and 1.6
mills for city from personal
property.
Absent from the meeting
were council member Kay
Gathright and City Attorney
Bryan Chessir. All other
members were present.
