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04-03-2000Agenda/Pension 4-3-00 01(0a Vl. ACTION AGENDA Board of Trustees of the Employees' Pension Fund April 3, 2000 1. Call to Order - 9:10 a.m. 2.. Approval of Minutes: 3/13/00 - Approved as submitted. 3. Request for acceptance into membership: Richard Knoth, Robin Seats, Michael Lockwood, Lorraine Welch, Dennis Castle, Jason Turaniczo, Donna Swain-McHughes, Kenneth J. Farrell, Joann Thompson, & Anthony White -Approved. 4, Regular Pension(s) to be granted: Virgil Rush, Donald Parker, Richard Warwick, & Robert Lockwood - Approved. 5. Other Business - None. 6. Adjourn - 9:11 a.m. --T?rvs-4-ee? Meeting Date: 1-1. 3 -00 TO: Pension Trustees Approved by Trustees: . CITY OF CLEARWATER EMPLOYEES' PENSION PLAN/ PENSION ADVISORY COMMITTEE FROM: Pension Advisory Committee SUBJECT: Recommendation for Acceptance into Pension Plan DATE: March 9, 2000 As "rrustees of the City of Clearwater Employees' Pension Fund, you 'are hereby notified that the employee(s) listed below have been duly examined by a local physician and each has been designated as a "first class risk". The employment of these individuals brings the number of FTE's as of this date to 1674.5 out of 1777.8 budgeted positions (including the City Commission. These employees are eligible for pension membership as noted in the Pension Eligibility Date column below, and it is the recommendation of the Pension Advisory Committee that they be accepted into membership. Pension Elig. Name. Job. Class, & Dept./Div. Hire Date Date Richard Knoth, Custodial Worker/Library 1 /31 /00 1 /31 /00 Robin Seats, Network Specialist/Police 1 /31 /00 1 /31 /00 Michael Lockwood, Recreation Programmer/Parks & Rec. 1 /31 /00 1 /31 /00 Lorraine Welch, Police Service Technician/Police 2/3/00 2/3/00 Dennis Castle, Parks Service Technician I/Parks & Recreation 2/14/00 2/14/00 Jason Turaniczo, Public Service Technician I/Public Works 2/14/00 2/14/00 Donna Swain-McHughes, Police Com. Operator/Police 1 /1 /85 9/25/99 Kenneth J. Farrell, Maintenance Worker I/General Sup. Services 2/14100 2/14/00 Joann Thompson, Maintenance Worker I/General Sup. Services 2/14/00 2/14/00 Anthony White, Utilities Chemist/Public Works 2/8/00 2/8/00 * Originally employed 1/1 /85; transferred to full-time and pension eligible as of 9/25/99. Pen ' n dvisory Committee Chair Trustees of the Agenda Item li Employees' Pension Plan Meeting Date: 4/3/00 Agenda Cover Memorandum SUBJECT/RECOMMENDATION: Virgil Rush, Fire Department; Richard Warwick, Fire Department; Robert Lockwood, Fire Department; and Donald Parker, Public Works 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. 11 and that the appropriate officials be authorized to execute same. SUMMARY: Virgil Rush, Firefighter/Driver Operator, Fire Department, was employed by the City on August 27, 1973, and his pension service credit is effective on March 22, 1974. His pension will be effective April 1, 2000. Based on an average salary of approximately $45,750 per year over the past five years, the "formula for computing regular pensions, and Mr. Rush's selection of the 10-Year Certain and Life Annuity, this pension will approximate $36,491 annually. Richard Warwick, Firefighter/Driver Operator, Fire Department, was employed by the City on December 17, 1973, and his pension service credit is effective on that date. His pension will be effective March 1, 2000. Based on an average salary of approximately $43,053 per year over the past five years, the formula for computing regular pensions, and Mr. Warwick's selection of the 100% joint & Survivor Annuity, this pension will approximate $30,414 annually. Robert Lockwood, Administrative Support Manager, Fire Department, was employed by the City on May 3, 1982, and his pension service credit is effective on June 20, 1989. His pension will be effective May 1, 2000. Based on an average salary of approximately $54,158 per year over the past five years, the formula for computing regular pensions, and Mr. Lockwood's selection of the 100% Joint & Survivor Annuity, this pension will approximate $15,582 annually. Donald Parker, Parking Meter Technician, Public Works Department, was employed by the City on December 22, 1986, and his pension service credit is effective on November 13, 1989. His pension will be effective May 1, 2000. Based on an average salary of approximately $28,409 per year over the past five years, the formula for computing regular pensions, and Mr. Parker's selection of the Life Annuity, this pension will approximate $9,363 annually. Reviewed by: Originating Dept: Costs Legal NA Info Tech NA Human Resources Total Budget NA Public Works NA User Dept. Funding Source: Purchasing NA DCM/ACM kt Captial Improvement Current Fiscal Year Risk Mgmt NA Other NA Attachments Operating Other Appropriation Code: Submitted by: ? None City Manager 0 Printed on reewled miner Rvv_ ?/9R Regular Pensions Page 2 April 3, 2000 These pensions were approved by the Pension Advisory Committee on March 9, 2000. Section 2.393 (p) provides for normal retirement eligibility when a participant has completed twenty years of credited service in a type of employment described as "hazardous duty" and further specifically defines service as a Firefighter/Driver Operator as meeting the hazardous duty criteria. Mr. Rush and Mr. Warwick qualify under the hazardous duty criteria. Section 2.393 (p) also provides for normal retirement eligibility when a participant has reached age 65 and completed ten years of credited service. Mr. Lockwood and Mr. Parker qualify under this criteria.