08/18/2008
TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING MINUTES
CITY OF CLEARWATER
August 18, 2008
Present: Frank Hibbard Chair
John Doran Trustee
George N. Cretekos Trustee
Paul Gibson Trustee
Absent: Carlen Petersen Trustee
Also Present: William B. Horne, II City Manager
Jill S. Silverboard Assistant City Manager
Rod Irwin Assistant City Manager
Pamela K. Akin City Attorney
Cynthia E. Goudeau City Clerk
Patricia O. Sullivan Board Reporter
The Chair called the meeting to order at 2:46 p.m. at City Hall.
To provide continuity for research, items are in agenda order although not
necessarily discussed in that order.
2 - Approval of Minutes
2.1. Approve the minutes of the July 14, 2008 Pension Trustees meeting as submitted in
written summation by the City Clerk.
Trustee Gibson moved to approve the minutes of the Pension Trustees meeting of July
14, 2008, as recorded and submitted in written summation by the City Clerk to each Trustee.
The motion was duly seconded and carried unanimously.
3 - Pension Trustee Items
3.1. Discuss presentation by Klausner & Kaufman, Pension Plan attorney.
Human Resources Director Joe Roseto said the Pension Plan requested that this item
be continued as the Pension Plan attorney was unable to attend today’s meeting due to
inclement weather.
Trustee Doran moved to continue Item 3.1 to September 15, 2008. The motion was
duly seconded and carried unanimously.
3.2. Employees listed below be accepted into the City of Clearwater's Employees' Pension
Plan as approved by the Pension Advisory Committee.
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Pension
Eligible
Name, Job Class, & Dept./Div Hire Date Date
Richard Ottinger, Solid Waste Equipment Oper./Solid Waste 06/09/08 06/09/08
David Marlowe, Fire Medic/Fire 06/09/08 06/09/08
Greg Keane, Fire Medic/Fire 06/09/08 06/09/08
Sarah Happs, Fire Medic/Fire 06/09/08 06/09/08
Tracy Becker, Police Cadet/Police 06/16/08 06/16/08
Trustee Cretekos moved to accept the listed employees into membership in the City of
motion carried
Clearwater's Employees' Pension Plan. The was duly seconded and
unanimously.
3.3. Christina Keenan, Police Department, and Raymond Boler, Public Services Department,
be granted regular pensions under Section(s) 2.393 and 2.397 of the Employees’ Pension
Plan as approved by the Pension Advisory Committee.
Christina Keenan, Controller, Police Department, was employed by the City on August
22, 1988, and her pension service credit is effective on that date. Her pension will be effective
September 1, 2008. Based on an average salary of approximately $63,594 per year over the
past five years, the formula for computing regular pensions, and Ms. Keenan’s selection of the
100% Joint & Survivor Annuity, this pension will approximate $34,242 annually.
,
Raymond Boler, Assistant Public Services Director, Public Services Departmentwas
employed by the City on March 17, 1975 and his pension service credit is effective on
September 22, 1975. His pension will be effective July 1, 2008. Based on an average salary
of approximately $76,395 per year over the past five years, the formula for computing regular
pensions, and Mr. Boler’s selection of the 100% Joint & Survivor Annuity, this pension will
approximate $67,679 annually.
These pensions were approved by the Pension Advisory Committee on July 10, 2008.
Section 2.393 provides for normal retirement eligibility when a participant has reached age 55
and completed twenty years of credited service, has completed thirty years of credited service,
or has reached age 65 and completed ten years of credited service. Ms. Keenan qualifies
under the 20 years of service and age 55 criteria. Mr. Boler qualifies under the 30 years of
service criteria.
Trustee Gibbson moved that Christina Keenan, Police Department, and Raymond
Boler, Public Services Department, be granted regular pensions under Section(s) 2.393 and
2.397 of the Employees’ Pension Plan as approved by the Pension Advisory Committee. The
motion was duly seconded and carried unanimously.
3.4. Gary Johnson, Solid Waste/General Services Department, be allowed to vest his pension
under Section(s) 2.397 and 2.398 of the Employees’ Pension Plan as approved by the
Pension Advisory Committee.
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Gary Johnson, Solid Waste Equipment Operator, Solid Waste/General Services
Department, was employed by the City on April 11, 1988, and began participating in the
Pension Plan on that date. Mr. Johnson terminated from City employment on March 8, 2007.
The Employees' Pension Plan provides that should an employee cease to be an
employee of the City of Clearwater or change status from full-time to part-time after completing
ten or more years of creditable service (pension participation), such employee shall acquire a
vested interest in the retirement benefits. Vested pension payments commence on the first of
the month following the month in which the employee normally would have been eligible for
retirement. Section 2.393 (p) provides for normal retirement eligibility when a participant has
reached age 55 and completed twenty years of credited service, has completed 30 years of
credited service, or has reached age 65 and completed ten years of credited service. Mr.
Johnson would have completed at least 20 years. of service and reached age 55 on September
13, 2011. His pension will be effective October 1, 2011. This pension was approved by the
Pension Advisory Committee on July 10, 2008.
Trustee Doran moved that Gary Johnson, Solid Waste/General Services Department,
be allowed to vest his pension under Section(s) 2.397 and 2.398 of the Employees' Pension
Plan as approved by the Pension Advisory Committee. The motion was duly seconded and
carried unanimously.
4 - Other Business
5 - Adjourn
The meeting adjourned at 2:47 p.m.
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Employee's Pension Plan Trustees
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