01-29-1996'?'Y ?"4'< 5•7?11?' i S 1,'. r 'f? t t 'Ir ' .. I
[?` >.{.?": I.i?.., ?'.e: 1'• "`, ,'t'I.r I .?:r,' ,f r 1. S yl
'< :.t ',P ''i ?'' Ic,'r S.hi :i''„;i''•"?.'-.r• iti ,?1:'`t; •°C3dp"?s.i, A:.I .r },?'? r$'.`rsli f.'a r.F..
trr z • gz.,:,' '.? : ,a.. 1 f+ r??'C . ?' ?Ct, ; +. .{..-+'..<i?` »l...Js :;a,: s,?:I?`. ,?:.' .:?';• ?(''::'`! c. ,'y'..,, ,
1 G 7 ?t' ni, f.'' , F s. i^7; "• ({ 4 ;rt:.•.l 1, a?:'• 1{r,,,'•,a;.'.• },r.'•
p?5(? 'G??9, a'tt 4, kl• .I, I?r?... I"`Y??. ,i :t<;
rFSlct ?ea. iri4f,F•.?? •L'r ln. 'f'i?.gg :?tg •?. '!' ?!+' ?'P? 'r ?: ?., ti;'; ??•. [. .'t r??'?: :°.,r ,r. .: r.?. ?{, 1. to ,I •i•1;'r:e .a. ?'; ,
r ?..,. c ... „e.;.a;?t14f ......?' {P,. Pf!'i..,3,.4 ^1. ..:•. S.',t ?•': ,. .c. .#?', 6' :+?- .. .,P;. 7. •r ,
d/P.
ension-
-1.''29 '96
. r
! I
I.' Call to order 1. 9:04 a.m.
2. Approval of Minutes 2. Approved as submitted.
of 1116/96
3. Regular Pension to be granted: 3. Approved.
Robert E. Morrison
4.. Regular Pension to be granted: 4. Approved.
Elmer E. Willis '
5. Regular Pension to be granted: 5. Approved.
Paul J. Noeske '
6. , Regular Pension to be granted: 6. Approved.
Ralph Lucas
7. Regular Pension to be granted: 7. Approved.
Frederick R.'Casale
8. Regular Pension to be granted: 8. Approved.
Allen H. Edelman.
9. Other Business:
a) Confirm & authorize Pension
Fund to pay for'ouside counsel re
Association of Confederation Life
Contractholders, et al. v.
Commissioner of Insurance of
State of Michigan (regarding
Rehabilitation of Confederation Life
Insurance Company) for an amount
not to exceed $10,000 without
further action
10. Adjournment:
Trustees directed that unless there is a
legal requirement regular pensions can be
approved by the PAC and not have to
come to the Trustees.
9. a) Confirmed/Authorized.
10. 9:12 a.m.
'3
TRUSTEES OF THE EMPLOYEES' PENSION FUND Itom #
Agenda Cover Memorandum Meeting Date: 1129196
Subject:
Pension to be Granted.
Recommendatlon/Motion:
-Robert E. Morrison, Recreation Facilities Supervisor 11, Parks & Recreation Department, be granted
a regular, 'pension under Section(s) 2.393 and 2.397 of the Employees' Pension Plan as approved by
the Pension Advisory Committee.
? and that the'awrooriate officials be authorized to execute same.
Robert E. Morrison, Recreation Facilities Supervisor 11, Parks & Recreation
Department, was employed June 16, 1965, and began participation in the Pension Plan on that
date. . His retirement is effective on January 19, 1996.
Mr Morrison's pension was approved by the Pension Advisory Committee (PAC) on January 11,
1996. Section 2.393 (p) defines normal retirement date as including when. a participant has
completed thirty years of credited service regardless of age.
Based on an average salary of approximately $43,395.15 per year over the past five years, the
formula for computing regular pensions, and Mr. Morrison's selection of the Joint & Survivor
Annuity, this pension will approximate $36,447.36 annually. Charts from Finance which take into
consideration mortality rates and age reflect the "present value cost of financing" this pension
will be approximately $476,499.25. The estimated pension cost (cash payout over the life of t h e
pensioner and his beneficiary) is $1,166,316.
Reviewed by: Originating Dept: Costs: $__4_76,499
Human Resources Total
Legal _ NA AD
Budget _ NA
Purchasing NA User Dept.:
Risk Mgmt. NA
CIS NA
ACM _:Z "Z Advertised:
Other _NA Date:
1(61 Paper:
? Not required
Submitted by: Affected parties
? Notified
? Not required
City Manager
Commission Action:
? Approved
? Approved wlconditions
Current FY ? Denied
? Continued to:
Funding Source:
? Capt. Imp.
? Operating
? Other won Attachments:
Appropriation Code: Letter(s)
646-07410-514100-585- None
Q0
L.`
Human Resources Depurtmonl
(813)462.07D
C I T. Y. O F C L E A R- W A ,.T E R
POST OFFICE SOX 4749
CLEARWATER, FLORIDA 34878-4748
Tr} Honorable Mayor and Members of the City Commission as Trustees of the
Employees' Pension Plan
FROM: Pension Advisory Committee
COPIES: Debbie Bailey, Payroll Services Manager
Employee's File
SUBJECT: Regular Pension-Robert E. Morrison
DATE: • January 1 1, ' 1996
The Pension Advisory Committee received an application for regular pension from Robert E.
Morrison on January- 11, 1996.
Mr. Morrison was employed by (lie City on June 16, 1965, and has been a participant in the
Pension Plan since that date. The amount of Mr. Morrison's pension will be computed by
the Finance Department at such time as his last five years of service and salary can be
calculated.
By motion , made and duly carried at its meeting of January 11, 1996, the Pension Advisory
Committee approved/recommended a regular pension based on years of service for Robert
E. Morrison in accordance with Sections 2.393 and 2.397 of the Pension Ordinance. This
pension will be effective on January 19. 1996, at the end of the day.
I hereby certify that the Pension Advisory Committee has approved the granting of a
regular retirement pension for Robert E. Morrison and the above dates are correct.
Secretary, f Pens
"Equal Employment and Affirmative Action Employer"
dvisory Committee
PENSION REQUEST FORM
L . Robert E. Morrison do hereby apply for retirement from the City of . Clearwater
General Employees' Pension Plan.
My benefits date is 6/16/65 (Entry date into pension plan)
G/16/G5
M y date of hire is
My birthday is_ 5/l/42
My job classification is supervisor zI and I work in the
Parks & Recreation Recreation Facilities
„ ,,,,,,,,, _„• _ Department,._ ? Division.
My resignation date is January 19, 1996
The type of pension for which I am applying is (check only one):
xa .Regular Pension based on years of service
Job-connected Disability Pension
Non-,fob-connected Disability Pension
My spouse's name is: Pat s. 1-la rison 3/24/46
Dependent children under the age of 1$ and residing in my household are:
(Print Child's Full Name) (Child's Date of Birth)
I hereby certify all of the above to be true and correc
_Sr (Stgn ?,r ?r
(Date)
STATE OF FLORIDA Th fore oing tL men as Wledged before me this
COUNTY OF PINELLAS byhp i? pe sogally
MNSS- known to me or who has uied-VL
as ' entification and who did/did not take an oath. j
Notary Public
(Signature)
Commission No.
SEAL ary Printed}
OFF ICIAL NOTARY
CYN-TT lA M ANDER50N
NOTARY PUBLIC STATE OF FLORIDA
CONNIVRON NO. "C397649
Nty cclM'd15!mN r-01 I;Frt 71,1 5
L11 .
?S
CITY OF CLEA.RWATER, FLORIDA,
STATEMENT OF RESIGNATION
?Robert E. Morrison employed us : ecreation :Facilities Supervisor II
in the Recreation Facilities Division-of Parks and +.ecreation
Dcpartittent
do hereby resign from ttw service ofthe City ol'Clearwater. I rt.-4ucst that this resignation be duly accepted by my Dcparl .
nwnt Head and the Appointing Authority to become el1ective on January 1996 at end of the day
P.M.
ut A.M. The reason titir this resignation is as follows: •
Retirement after 30 }years service.
f
Employee's signature Date signed
DEPARTMENT ACTION:
Approved by Divis'ion Head Date
Division Head Comnients. (Optionall
Approved by Department Head Date
Department Head Comments (Optional)
ACTION OF APPOINTING AUTHORITY
I uccept this resignation to become 01'ective on the date and at the tinic shllwn uhove.
Duty
Appointing Authority
Appointing Authority Comments (Optional)
IMPORTANT NOTE: The rcason for this resignatinn must be shown in the space provide!. The original lorm. when
signed by the employee and the division and department head. is to be attached it) the personnel action sheet and lbrwaided
to the Personnel Office. Personnel action sheet must reflect the status of any City monies due tat or by thi's employee
in accordance with the Civil Service Rules and collective bargaining agreements currently in 0ect.
L-
.rrsf. ? r ,:: . ..a,t.r. .. ,,.....a nf•.v.. rf:..?.., R!" o i '. ,. •? •.
CITY OF CLEARWaTER
GENERAL EMPLOYEES' PENSION PLAY
OPTIONS - GENERAL EMPLOYEES
OPTION #].i Employees can receive a lump sure payment for vacation and
holiday pay and 113 of accrued sick leave at the time of
separation from the, City. There will be no.'6170 deduction i'or
pension from this lump sum payment nor will this amount count
as earnings in the calculation of the pension. -The last day of
work will be the termination date and pension benefits. will begin
the following day.
OPTION. #3:1 Employee can extend termination date by the time dice for
vacation, holiday pay, and 1/ of accrued sick leave, i ermination
date will be. the final day of .extended time. Pension benefits .Vill
begin the following. dav,
(Only available to employees hired prior to 10/1,90.)
K i N I{' {l / t < k * A N * * # 11 ll{ 11 f1 ryt # i[ ? M y M ¦ # N i y{ f ? t M? M i? N # J? k M R rl MI al ?f ?f * MI [ i( M M V N M Y M r K • X y
I. Robert E. Morrison an employee of the City of Clearwater, hereby -icp;y for
?erasion benefits under the City's Employees' Pension Plan.
I he.-.-by certify :hat I :ally understand the two options offered to me. I choose :o ,Pare Asia,
oDt-.:.'] 7 One and wish my benefits to be calculated under this option,
I enders:and that )nce this form is sianu-d, my decision :s irrevocable.
t
'
'
EMPLOYEE
S SIGNATL
R.E:
SOCLAL SECL R;:Y 03430--3655
%NTFNESSES: ADDRESS: 2905 Roserr Road E.
Largo ESL 34541
DATE: January 2, 19015
CITY OF CLEARWATER, FLORIDA
EMPLOYEES' PENSION PLAN
Penalon Plan PaMfciRgint's fotection of Nor nalRgtirement
Bonefit Payment or AlternatIM2 1jen,gAt Payment Option
The City of Clearwater Employees' Pension Plan provides multiple options to Plan Participants
as to the manner of the pension benefit payment. Option 1 below represents the standard or
normal form of. retirement benefit. The other optional forms (92 - #6) shall be computed to
be the Actuarial Equivalent of the normal benefit.
Option 1. Joint and Survivor Annuity.
The normal form of retirement benefit shall be an annuity paid monthly for the life of the
Participant, with a 100% survivor annuity paid monthly for a period of five years following
the death'of the Participant to the beneficiary, provided that the following such five year period
the survivor annuity shall be reduced to 50% of the original survivor annuity amount. (See
Section 2.397 (a) (3) (A)). The Participant's surviving spouse, or it no surviving spouse,
dependent children under the age of 18, shall be deemed to be the beneficiary. (Section 2.397
(a)(3) and Section 2.398 (e) (3))
Option 2. Life Annoy.
The Participant receives his/her pension as long as he/she lives. Upon the death of the
Participant, benefits cease. (Section 2.398 (b) (2)(A) (1))
Option 3. 10 Year Certain & Life Annuity.
The Participant receive his/her pension as long as he/she lives. If the Participant dies before
120 monthly payments have been made, the remaining payments up to the 120 payments are
made to his/her beneficiary, or to his estate If his/her beneficiary is not alive. (Section 2.398
(b) (2)(A)(fi))
Option 4. 54% Joint A Survivor Annulty.
The Participant receives his/her pension as tong as he/she lives. It the Participant dies first,
the beneficiary receives 50% of the pension for the rest of their life. If the beneficiary dies
first, the employee continues to receive 100% of his/her pension and upon the death of the
Participant, benefits cease. (Section 2.398 (b)(2) (A) (iii))
j ,
1 ,
Option 5. 75% JgIgj ? SurvlvQr ASoUlty.
The Participant receives his/her pension as long he/she lives. If the Participant dies first, the
beneficiary receives 75% of the pension for the rest of their life. It the beneficiary dies first,
the employee continues to receive 100% of his/her pension and upon the death of the
Participant, benefits cease. (Section 2.3$8 (b) (2) (A) (iii))
S??iloe 6. 100% JQlnj. b Survlvor- Annuity.
The Participant receives his/her pension as long as he/she lives. If the Participant dies first,
the beneficiary receives 100% of the pension for the rest of their life. It the beneficiary dies
first, the Participant continues to receive 100% of his/her pension and upon the death of the,
Participant, benefits cease. (Section 2. 8 (b) (2) (A) (iii)).
r
I' -? `-=?`_?_ --? an employee of the City of
Clearwater and a Partlcipant In the Employees' Penslon Plan, have considered
the normal form of benefit payment under such Plan (which Is designated on
this Form as Option 1) AnA the various alternative optional benefit payment
methods (Options 2 through S) under such Plan and have elected: to receive my
retirement benefits as Indicated below. (Note: Option selection to be indicated
both by Number and Description). I understand that once this Form Is signed,
my declslon Is Irrevocable.
Option .?.
Option Description: -i.
Q-? --------- G•y+.?
EMPLOYEE'S SIGNATURE
SOCIAL SECURITY NUMBER: ??
No#ary-Wbllc U
My Commission expires:
OFFICIAL NOTARY SEAT.
DE130RAH K STRU T
NO'T'ARY PUBLIC STATE OF FLORIDA
COMM155I0N NO. CC283329
/'(1111 S4 ??
11 :
,r
•
5 ! E 1
i•3
w sr>1... ,a«,. ..... ...... ...la
f, il...u:e 43 r.x r » i5.. `(a i .. • .5"' 'I',' .. .:f•i i 1.1 ' r 11 1,
E. .f'
1 '
`
Estimated Pension W orksheet
' Robert E. Morrison
034-30-3655.
CALENDAR GROW '
MOON
YEAR EARNINGS
RESIGNATION DATE: 1/1/96 1991 $38,969.94
FORMULA DATE: 12/31/95- 1992 $43,554.86
BENEFITS DATE: 6116165. 1993 $42,823.77
TOTAL WORKED: • 30.5417 1994 $44,558.09
1995 $47,069.08
$216,975.74 (5 Year.Total)
5/ $43,395.15 (Yearly Avg)
12/ $3,616.26, (Monthly Avg) .
X, 0.0275 (Benefit Rate)
x 30.5417 (Yrs of Service)
$3,037.28 (Est Wly Pension)
Signature:
Date:
:f,?k•
Employee Name:, ,
Employee. Date of Birth:
Marital, Status:
Spouse Date of Birth:
Beneficiary Date,of'Birth:
Benefit Commencement Date
Estimated. Monthly Pension:
clractOl
Version:
Robert E. Morrison 12-29-95
5 1 1942
M
3 24 1946
3 24 1946
1 19 1996
$3,037.28
Actuarial Equivalent Reduction Factors:
Facto r
Normal Form 1.0000
Life Annuity 1.0913
10 Year-Certain 1.0770
50% J&S 1.0324
75%J&S 1.0053
100% J&S . 0.9795
ESTIMATE
Est. Pmt.
$3;037.28
$3,314.52
$3,271.29
$3,135.63
$3,053,24
$2,975.07
expected Pension Cost Cash Payout Over Life of Pe sloner and S ouse
P sent Value of Expected Pension Cost N1pPP1,<p
Annual Interest Rate 7.0%
Annual Pension Amount $36,447.36 'Effective 1119196
Pensioner Sex Male
Pensioner Age 53
Pensioner Life Expectancy 77
Years Remaining 25
Spouse Age 49
' f Spouse Life Expectancy 82
Years Remainin 34
Normal Joint S Survivor Annul
#. Pensioner Spouse Present Annual Amount
Years Age Age Value Interest Paid Balance
1 53 49 476 499.25 32,079.29 36,447.36 472,131.18
2 54 50 1414, 1 -3 1 31,773.53 36,447.36 467,457.35
3 .55 51 467,457.35 31,446.36 36 447.36 462,456.34
4 56 52 462,456.34 31,096.29 36 447.36 457,105.27
5 57 53 457,105.27 30,721.71 361447.36 451,379.62
6 58 54 451,379.62 30,320.92 36 447.36 445,25317
i 7 59 55 445,253.17 29,892.06 360447.36 438,697.88
8 60 56 438,697.88 29,433.19 36,447,36 431,683.71
' 9 61 57 431,683.71 28,942.20 36 447.36 424,178.56
10 62 58 424,178.56 28,416.84 36 447.36 416,148.04
11 63 59 416,148.04 27,854.70 36 447.36 407,555.38
12 64 60 407,555.38 27,253.22 36,447.36 398,361.24
13 65 61 398,361.24 26,609.63 36 447.36 388,523.51
14 66 62 388,523.51 25,920.99 36 447.36 377,997.14
15 67 63 377,997.14 25,184.14 36 447.36 366,733.92
z 16 68 64 366,733.92 24,395.72 36 447.36 354,682.28
17 69 65 354,682.28 23,552.10 36,447.36 341,787.02
18 70 66 341,787.02 22,649.43 36 447.36 327,989.09
19 71 67 327,989.09 21,683.58 36 447.36 313,225.31
} 20 72 68 313,225.31 20,650.11 36 447.36 297,428.07
21 73 69 297,428.07 19,544.31 36 447.36 280,525.01
22 74 70 280,525.01 18,361.09 36 447.36 262,438.75
23 75 71 262,438.75 17,095.05 36 447.35 243,086.44
24 76 72 243,086.44 15,740.39 36 447.36 222,379.47
25 77 73 222,379.47 14,290.91 36 447.36 200,223.02
26 78 74 2001223.02 12,739.95 36 447.36 176,515.61
27 79 75 176,515.61 11,080.44 36 447.36 151,148.69
28 80 76 151,148.69 9,304.75 36 447.36 124,006.08
29 81 77 124,006.08 7,404.77 36 447.36 94,963.49
30 82 78 94,963.49 5,371.79 36 447.36 63,887.91
31 83 79 63,887.91 3,834.33 18 223.68 49,498.56
32 84 80 49,498.56 2,827.07 1223.68 34,101.95
33 85 81 34,101.95 1,749.31 18 223.68 . 17,627.58
34 86 82 17,627.58 596.10 QZ 68 0.00
$1 166 316
1
L
ML&KTA11ZFMEn1M MMFE7V5fL % WC1?A [S JF-%W _
. OU16P6
TRUSTEES OF THE EMPLOYEES' PENSION FUND
Agenda Cover Memorandum
Item #
Meeting Date: 1/29/96
Subject:
Pension to be Granted.
Recommendation/Motion:
Elmer E. Willis, Mechanic Supervisor, General Services Department, be granted a regular pension
under Section(s) 2.393 and 2.397 of the Employees' Pension Plan as recommended by the Pension
Advisory Committee,
? and that the a roriate officials be authorized to execute same.
BACKGRQtJND:
Elmer E. Willis, Mechanic Supervisor, General Services Department, was employed
January 21, 1975, and began participating in the Pension Plan on July 28, 1975. His retirement is
effective on January 30, 1996.
Mr. Willis' pension was approved by the Pension Advisory Committee (PAC) on January 11, 1996.
Section 2,393 (p) defines normal retirement date as including when a participant reaches age 55
and has completed twenty years of credited service.
Based on an average salary of approximately $37,949.77 over the past five years, the formula for
computing regular pensions, and Mr. Willis' selection of the 'Ten Year Certain & Life Annuity, this
pension will approximate $20,892.84 annually. Charts from Finance which take into consideration
mortality rates and age reflect the "present value cost of financing" this pension will be
approximately $239,189.25. The estimated pension cost (cash payout over the life-of the pensioner
.and his spouse) is $459,642.
Reviewed by:
Legal _ NA
Budget _ NA
Purchasing NA
Risk Mgmt... NA _
CIS NA_
ACM _ _K9 r
Other __NA
Originating Dept:
Human Resources
0
User Dept.:
Advertised:
Date:
Paper:
Not required
Affected parties
Notified
Not required
Costs: ;5239.1"
Total
Funding Source:
Capt. Imp.
Operating
Other Pension
Appropriation Code:
Submitted by:
City Manager
M
Commission Action-
Approved
Approved w/conditions
Denied
Continued to:
Attachments:
Letter(s)
0 None
Hurnon Resources Deparlmont
(813)462.6870
C1 T Y O F
C L ]E 'A. R ,W A T E R
POST OFFICE BOX 4748
CL.EARWATER. FLORIDA 34 61 8-474 8
TQ Honorable Mayor and Members of the City Commission as Trustees of the
Employees' Pension Plan
FROM: Pension Advisory Committee
COPIES: Debbie Bailey, Payroll Services Manager
Employee's File
SUBJECT: Regular Pension-Elmer E. Willis
DATE: January It, 1996
The Pension Advisory Committee received an applicatiun for regular pension from Elmer E.
Willis on January H, 1996.
Mr. Willis was employed by the City on January 21, 1975, and has been a participant in t h e
Pension Plan since July 28, 1975. The amount of Mr. Willis's pension will be computed by
the Finance Department at such time as his last five years of service and salary can be
calculated.
By motion made and duly carried at its meeting of January 11, 1996, the Pension Advisory
Committee approved/recommended a regular pension based on years of service for Elmer E.
Willis in accordance with Sections 2.393 and 2,397 of the Pension Ordinance. This pension
will be effective on January 30, 1996, at 3:00 P.M.
I hereby certify that the Pension Advisory Committee 'has approved the granting of u
regular retirement pension for Eimer E. Willis and the above dates are correct.
Secreta
"Equal Employment and Affirmative Action Employer"
Advisory Committee
PENSION REQUEST FORM
1, Elmer it. Willis do hereby apply for' retirement from the City of Clearwater
General Employees' Pension Pl an.
My benefits date is 7/28/75 -(Entry date Into pension plan)
My date of hire is 1/21/75
My birthday is 5/5/1938
My job classification is Mechanic Supervisor and I work in the
General Services Department, Fleet Maintenance Division.
My resignation date is 1/30/1996
The typ- of pension for which I am applying is (check only one):
xx Regular Pension b ased on years of service
Job-connected Di sability Pension
Non-job-connected Disability Pension
My spouse's name is:
Dependent children under the age of 1S and ' residing in my household are:
(Print Child's Full Name)
(Child's Date of Birth)
I hereby . certify all of the above to be true and correct:
(Signature)
(Date)
STATE OF FLORIDA foregoing ;nst ument was kn w]edged before me this
COUNTY OF PINELLAS 1 by woo is pe shnally
Pnow-n to m
e e or ho has produced' % s ide tifietion and wh did/did not take an oath,
rotary Public
( ignature)
Commission No.
ti
ame of Notar 'rated)
CYN-nH 1 M ANDERSON
NOTARY TIJBIX STAW. OF FLORID
Ct M YV?41t1N tills.,'-, sV)
'CIT'Y OF CLEARWATER9 FLORIDA
STATEMENT OF RESIGNATION
I.
EJMP-r F- a .... emplnyed sespchar+i n,tW?t9 adr
in the Division of Dcpanmcnt
do hereby resign from the.%crvicc of the City of Clearwater. I request that this resignation be duly accepted by my Depart.
mcnt Heusi and the Appointing Authority to become effective on January 30- 1296
3:00 P.M.
at The reason for this resignation is as follows:
Retirement on city pension.
C
Employee's signatur Date signet! 9
Approved by Division Head Date
Division Head Comments (Optional)
Approved by Department Head Date
Department Head Comments (Optional)
ACTION OF APPOINTING AUTHORITY
I accept this resignation to become effective on the date and at the tiros shown above:,
Date;
Appointing Authority
Appointing Authority Comments (Optional)
IMPORTANT :MOTE: The reumin for this resignation must be shown in the spree: provided. The original form. when
signal by the employee and the division and dcpanment head, is to be attached to the personnel action sheet and forw•urdt:d
to the Personnel Office. Personnel action sheet must reflect the status of any City monies due to or by this employer
in accordance with the Civil Service Rules and collective barguining agreemems currently in cfl'co.
kv% #%W 2-117
,`.t.f. f. tom....,.. .,, -. .e ... ._. ..,. .. ..f... .. r. ,i .1. . 1 . 'Y 1 .. - .. .r r • ,
CITY OF CLEARWATER
GENERAL' 1a11PLOYEES' PENSION PLAN
OPTIONS GENERAL ELMPLOYEES.
OPTION YI: Employees can recaive a lump sum payment for vacation and
holiday pay, and 1/1 of accrued sick leave at the time of
separation from the City. There will be no. 6% deduction for
pension from this lump sum payment nor will this amount count
as earnings in the calcuiation of the pension. The last day of
work will be the termination date and pension benefits will begin
the following day.
OPTION K Employee can extend termination date by the time due for
vacation, holiday pay, and 112 of accrued sick leave. Terminaticn
date will be the final day of extended time. Pension benefits will
begin the following day,
(Only available to employees hired prior to 1011190.)
' w yt # >R . Ie ,Y # k w 7l 'w A !t w .A it qt ¦ w M M * + • 1t M 111 M ¦ ? * . M
yt * r f w s x .t ? .e at w re rt M t+w ?t # ? x a x ? +e ? Ik . •
I, Elmer E. Willis an employee of the City of Clearwater, hereby apply for
pension benefits under the City's Employees' Pension `Plan.
I hereby cartifv :hat I ;uily understand the two options offered to m=• i choose -o . retire using
Oction y and tvis t my benefits to be' calculated under this option.
i .-nders",and that once this form is signed, my decision is irrevocable.
EMPLOYEE'S SIGNATt:RE.
50CLA.L SECURITY - 265-46-9182
DRESS: 1507 Linwood Drive
t, Clearwater, FL, 34615
p
DATE.,
I, r
i. I
.
• r • r r r . I Ir
DESIGNATION OF BENEFICIARY FOR PENSION
Employee's Name: ..rElmer r.Willis .. L..I ._._..
Job Classification: Mechanic Superyj$gr
Employee's Social Security Number: 265-48-9102
,
1. Elmer Willis having applied
for retirement benefits under the Employees' Pension Plan of the City of
Clearwater and having selected to receive benefits pursuant to Option 3
'10 Year Certain & Life Annuity" option, do hereby designate as my
beneficiary:
/ r. •
Name: t" f7ITG __
Social Security Number:
al
Date of Birth:
_,
Signed:
Date:
..1,r
STATE OF FLORIDA The following inatru ent was acknowledged
COUNTY OFPINELLAS before me this . - v.-•t? P F l+he',• 'P. fir:kk:
who is ers? ona y o r`e. or who has
provided
as identification and who did/did not take an
oath.
--Notary Public
V•ib.Ad tr., IT\ Name of Notary. Printed
My Commission Expires:
CITY OF CLEARWATER, FLORIDA
EMPLOYEES' PENSION PLAN
pension Han PartlclDant'a Sole I[Qn --gf Normal ent
Option
The City of Clearwater Employees' Pension Plan provides multiple options to Plan Participants
as to the manner of the pension benefit payment. Option i below represents the standard or
normal: farm of retirement benefit. The other optional forms (#2 - #6) shall be computed to
be the Actuarial Equivalent of the normal benefit.
Option 1. J9lnj and SUryjyor Annuity,
The normal form of retirement benefit shall be an annuity paid monthly for the life of the
Participant, with a 100% survivor annuity paid monthly for a period of five years following
the death of the Participant to the beneficiary, provided that the following such five year period
the survivor annuity shall be reduced to 50% of the original survivor annuity amount. (See
Section 2.397 (a) (3) (A)). The Participant's surviving spouse, or it no surviving pause,.
dependent children under the age of 18, shall be deemed to be the beneficiary. (Section 2.397
(a)(3) and Section 2.398 (e) (3))
Option 2. Llfg_ Annuity.
The Participant receives his/her pension as long as he/she lives. Upon the death of the
Participant, benefits cease. (Section 2.398 (b) (2)(A) (i}}
Option 3. 10 ? ear Certain & -1-Ife Annuly.
The Participant receive his/her pension as long as he/she lives. If the Participant dies before
120 monthly payments have been made, the remaining payments up to the 120 payments are
made to his/her beneficiary, or to his estate if his/her beneficiary is not alive. (Section 2.398
(b) (2)(A)(11))
Option 4. 50°2 _Jolnt,..If< Suryi-ar_ nnulty.
The Participant receives his/her pension as long as he/she lives. If the Participant dies first,
the beneficiary receives 50% of the pension for the rest of their life. If the beneficiary dies
first, the employee continues to receive 100% of his/her pension and upon the death of the
Participant, benefits cease. (Section 2.398 (b)(2) (A) (iii)}
Option S. 75,%-Joint_ & Survivor may,
The Participant receives his/her pension as long he/she lives. If the Participant dies first, the
beneficiary receives 75% of the pension for the rest of their life. If the beneficiary dies first,
the employee continues to receive 100% of his/her pension and upon the death of the
Participant,- benefits cease. (Section 2.398 (b) (2) (A) (iii))
Or?too IL 100% Joint AnnuliY
The Participant receives his/her pension as long as he/she lives. if the Participant dies first,
the beneficiary receives 100% of the pension for the rest of their life. If the beneficiary dies
first, the Participant continues to receive 100% of his/her pension and upon the death of the
Participant, benefits cease. (Section 2.398 (b) (2) (A) (Ili)).
..._------- I an employee of the City of
Clearwater and a Participant In the Employees' Pension Plan, have considered
the normal form of benefit payment under such Plan (which Is designated on
this Form as Option 1) & d the various alternative optional benefit payment
methods (Options 2 through B) under such plan and have elected to receive my
retirement benefits. as Indicated below. (Note: Option selection to be Indicated
both by Number and Description).. I understand that once this Form Is signed,
my decision Is Irrevocable.
Option 0..
Option Description: -------------
EMPLOYEE'S SIGNATURE +
SOCIAL SECURITY NUMBER: ------
STATE OF FLORIDA The foregWoqnal strument was a k?nowledged befo??ti,
COUNTY OF INELLAS me this by
who J pey ? nown to me or who has provided
?? _?? identification and who
otary Public did/did not take an ost#1`,-?
?_ _- My Commission expires:
(Name of Notary Printed)
CYN-iv.IA Ni AN CRS0N
NCYTARYrtii?i.:CSTnr CF I•C?Z?A
f
' I E,
l
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r
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.
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4F
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•"1 1, r, -. l,r •! ", r. ,r. .1t . , x rr 1
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. 'Y
Estimated ' Penslon 'Worksheet
Elmer E. WHIls
265-48-9182
CALENDAR GROW
PENWN '
YEAR EIAWNGS '
RESIGNATION DATE: 1/1196 199, • $35,664.67
FORMULA DATE: 12131 /95 1992 $37,565.42
BENEFITS DATE: 7128175 1993 $37,139.87
TOTAL WORKED: 20.4250 1994 $38,229.39
1995 $40,949.51
$189,748.86 (5 Year Total) ,
51 $37,949.77 (Yeasty Avg)
12/ $3,162.48 (Monthly Avg)
x 0.0275 (Benefit Rate)
x 20.4250 (Yrs of Service)
$1,776.33 (Est Mtly Pension) r
Signature:
Date:
I
EI
Version:
' Employee Name: Elmer E. Willis 12-29;95
.Employee Date of Birth:. 5 5 1938
Marital Status: S
Spouse Date of Birth:
Beneficiary . Date of Birth:
Benefit Commencement Date : 1 30 1996
Estimated Monthly Pension: $1,776.33
. 1 Actuarial Equivalent Reduction Factors:
Factor Est. ' Pmt.
. Normal Form 1.0000 $1,776.33
Life. Annuity 1.0000 $1,776.33
10 Year Certain 0.9802 $1,741.07
" 50% AS #DIV/01 #DIV/01
75% J&S #DIVIDI #DIVIOI
100% J&S #DIV/01 #DIVIOI
ESTIMATE
1 4A
r
ExpQCted'Pension Coat (Cash Payout Over Life of Pension(
9-,t
PL2s4I j Yalu e of_Exaected Pension Cost WILL
Annual Interest Rate
Annual Pension Amount
'Pensioner Sex
Pensioner Age
Pensioner Ufa Expectancy
Years Remaining
Q tion-Chosen: 10 Year Certain
7.0%
Balance
234,308.41
229,085.91
223,497.84
217,518,59
211,120.81
204,275.17
196,950.35
189,112.78
180,726.59
171,753.36
162,152.00
151,878,56
140,885,96
129,123,89
116,538.48
103,072,08
88,663.04
73,245.36
56,748.44
39,096.75
20,209.43
0.00
$20,892,84: l:ffecOve 1130196
Male
57,
78
22
. # Pensioner Spouse Present Annual
Years Age Age Value Interest
1 ' 57 0 239 189.25 16,012.00
2 58 1 704,308.41 15,670.34
3 59 2 229,085,91 15,304.76-
4 60 3 223,497.84 14,913.60.
5.. 61 4 217,518.59 14,495.05
6 62 5 211,120.81 14,047.21
7 63 6 204,275.17 13,568.01
8 64? 7 196,950.35 13,055.27.
9 65 8 189,112,78 12,506,65
10 66 9 180,726.59 11,919,61
11 , . 67 10 171,753.36 11,291.49
12 68 11 162,152.00 10,619.39
13, 69 12 151,878,56 9,900,25
14 .70 13 140,885.96 9,130.77
15 71 14 129,123.89 8,307.42
16 72 15 116,538.48 7,426,44
17 73 16 103,072,08 6,483,80
18 74 17 88,663,04 5,475:16
19 75 18 73,245.36 4,395.93
20 ' 76 19 56,748.44 3,241.14
21 77 20 39,096.75 2,005.52
22 78 21 20,209,43 683,41
?C?t]rlTw!l?tt??rnA+xNSU?arsr o?vt??tx?.?w?r
MatsRS
M ,
Amount
Paid
r •
' TRUSTEES OF THE EMPLOYEES' PENSION FUND
Agenda Cover Memorandum
Item ff
Meeting Date: 1(ZQ196,•_„-_.
Subject:
Pension to be Granted.
Recommendation/Motion:
Paul J. Noeske, Police Sergeant, Police Department, be granted a regular pension under Section(s)
2.393 and 2.397 of the Employees' Pension Plan as recommended by the Pension Advisory
Committee.
? and that the appropriate officials be authorized to execute same.
111111¦I¦ 1l?IIIII//1?/?//?/ --- -- - -it/I/IIU?III????IIIII?II?II PI IIIII IIIIIPI?I?I'!?///??
SACKGAOUND:
Paul J. Noeske, Police Sergeant, Police Department, was employed by the City on January
14, 1974, and his pension service credit is effective that date. His retirement was effective on
January 3, • 1996.
Sergeant Noeske's pension was approved by the Pension Advisory Committee (PAC) on
January 11, 1996. ' 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 sworn police officer us meeting the hazardous
duty criteria.
Based on an average salary of approximately $53,136.75 per year over the past five years, the
forinula for computing regular pensions, and Sergeant Noeske's selection of the standard benefit
payment (Joint Survivor Annuity,) this pension will approximate $32,094.96 annually. Charts
from Finance which take into consideration mortality rates and age reflect that the "present value
cost of financing" this pension will be approximately $435,635.89. The estimated pension cost
(cash payout over the life of the pensioner and his spouse) is $1,198,514.
Reviewed by:
Legal N _
Budget _ NA
Purchasing NA
Risk Mgmt. ?NA_._ _
CIS NA
AC tat ' za jo-- -
Other NA
Submitted by:
City Manager
Originating Dept:
Human Resources
"0
User Dept.:
Advertised:
Date:
Paper:
? Not required
Affected parties
? Notified
? Not required
oats: $435.636 I Commission Action:
Total
? Approved
? Approved wlconditions
Current FY ? Denied
? Continued to:
Funding Source:
? Capt. Imp.
? Operating
? Other eension
Appropriation Code:
Attachments:
Letter(s)
646.07410-514100.585-
Qu
? None
Human Resourew Department
(813) 462-6870
C,1 T Y Q F
C L E A,R W A T E R
POST OFFICE BOX 4748
CL.EARWATER, FLORIDA 34818-4748
Honorable Mayor and Members of the City Commission as 'Trustees of the
Employees' Pension Plan
FROM: Pension Advisory Committee
COPIES: Debbie Bailey, Payroll Services Manager
Employee's . File
SUBJECT: Regular ` Pension----Paul Noeske
DATE: January 11, 1996
The Pension Advisory Committee received. an application for regular pension' from Paul
Noeske on January 11, 1996.,
Mr: Noeske was employed by the City on January 14, 1974, and has been a participant in the
Pension Plan since that date. The amount of Mr. Noeske's pension will be computed by t h e
Finance Department at such time as his last five years of service and salary can be
calculated.-
By motion made and duly carried at its meeting of January 11, 1996, the Pension Advisory
Committee approved/recommended a regular pension based on years of service for Paul
Noeske in accordance with Sections 2.393 and 2.397 of the Pension Ordinance. This pension
will be effective on January 3, 1996, at 8:00 A.M.
I hereby certify that the Pension Advisory Committee has approved the granting of a
regular ret irement pension for Paul Noeske and the above dates are correct.
Secretary,
dvisory Committee
-Equal Employment and Affirmativo Action Employer"
i
1
{ PENSION REQUEST FORM
1, 'Paul J. 'rtoeske do hereby apply for retirement from the City of .Clearwater'
General Employees' Pension Plan.•
1/14/74
My benefits date is (Entry, date into pension plan)
M y date of hire is 1/14/74
My birthday is 10/19/48
My job classification is Police Sergeant and I work in the
'
Police Department, Patrol Division.
M y resignation date is _January 3, 1995
The type of .pension for . which I am applying is (check only one):
xx Regular, Pension based on years of service
.fob-connected Disability Pension
Non-,job-connected , Disability Pension
Betty Noeske 10-28-49
My spouse's name is:
Dependent children under the age of 18 and residing in my household are:
Tracy Noeske 11/2/79
(Print Child's Full Name) (Child's Date of Birth)
I hereby certify all of the above to be true and correct:
?A
(Signature)`
(Date)
STATE OF 'FLORIDA The foregoing to rument was acknowledged before me this
COUNTY OF PINELLAS .,L-by-. P-A who i personally
known to me or who has produced
as identification and who did/did not take an oath.
t SY4? /11?#n 1 ?r? 2? Notary Public
(Signature),
Commission No.
o otary Printed)
. WY C01i11isM i CC 202M
r E?PM:1AW 24,14 7
flat I nffVHMM P4* 11 I to
J
I
i JAN-M-1996 15.' 15 CHIEF'S OFFICE f' . 01
CITY OF CLEARWAT]ER, FLORIDA
STATEMENT OF RESIGNATION
Paul J. Noeske Police.Officer
t. . empl oycd ax
in the patrol _ Division of Police Dept nrmn
€ do hereby rcyiltn from the scrov of the City of Clearwater. I re4u" that this resignatiun he duly a«vptt.d by my Depart
meat Head and the Appointing Authority to become effcetive ton _JanuaFY 3, 1996
V4MLx
at . 9200 , A. M. The rcuson for thin resignation is as follows: IR,.%A
Employee's signature Date signed
DEPARTMENT ACTION:
Apprmed by Division Head Date I ? ,
Division Head Comments (Optional)
Apprtoved by Department Head pale
__k '
Depunsnent Head Comments (Optional)
ACTION OF APPOINTING AUTHORITY
I accept this resignation to bmimic effective on The i
Post ?t• Fns t?tvto 7677 na"?- 46 cvy..? 1
' 14 xv, eic
I4,u ? S co.
Phone t Phom /
Fax 0
w
fax
IMPORTANT VOTE: The reastm for this resignation must be shown in the spat;v provided. The original form. when
signed by the conployce and the division and depunntcni hcatl. Is to be attached to the perminnel adkin shcct and f4wirded
to the Per,unncl OITcc. Pcrsonnef action shcct must rclled the stutas of any City nxonics due w or by this, employee
in accordance with the Civil Scrvice Rule-. and ciftok bargaining; agreemcnis currently in t:Aect.
-- -- -- Appointing Authority
Appointing Authority Contmcnis (Optional)_
T'OVL» P.®1
s
CITY OF CLEARWATER
„ GENERAL EMPLOYEES' PENSION PLAN
OPTIONS - POLICE OFFICERS
r ,
OPTION #1: Employees can receive a lump sum payment for vacation and
holiday pay and 112 of accrued sick leave at the time of
separation from the City. There will be no 6% deduction for
pension from this lump sum payment 'tor will this amount count
as earnings in the calculation of the pension. The last day of
work will be the termination date and pension benefits will begin
the following day.
OPTION #2: Employee can extend termination date by the time due for
vacation, holiday pay, and 112 of accrued sick leave. Termination
date will be the final day of extended time. Pension . benefits will
begin the following day.
(Only available to employees hired prior to 1{111194.)
OPTION #3:. Employees can split their accumulated sick time at one-quarter
pay and one-quarter early retirement time. That portion
received as one-quarter pay will not have 6% deducted for
pension nor- will it count as earnings in the calcination of the
pension. The portion applied toward early retirement time will
be subject to the 6% pension deduction and will count as earnings
for pension calculations. Termination date will be the final day
of extended time; pension benefits will begin the following day.
(Only available to employees hired prior to 1411194.)
Paul J. Noeske
l
an emp
oyee of the City of Clearwater, hereby apply for
pension benefits under the City's Employees' Pension Plan.
1 hereby certify that I fully understand the two options offered to me. I' choose to retire using
Option # and wish my benefits to be calculated under this option.
I understand that once this form is signed, my decision is irrevocable.
EMPLO
I
T
E'
:
YE
S S
GNA
URE
SOCIAL SECURITY #: 055-40-1529
WITNESSES: ADDRESS: 1d to f .Ate
UNF :
I 1 , 1 - . . M
CITY OF CLEARWATER, FLORIDA
EMPLOYEES' PENSION PLAN
Pens/ ent
Benefit . Paym,ant', or Alternative ' neilt Payment Op Ion
,The City of Clearwater Employees' Pension Plan provides multiple options to Plan Participants
as to the manner of the pension benefit payment. Option 1 below represents the standard or
normal form of retirement benefit. The other optional forms (#2 - #6) shall be computed to
be the Actuarial Equivalent of. the normal benefit.
Option 1, Ieint anal Survlvgr Annuity.
s z
The normal form of retirement benefit shall be an annuity paid monthly for the life of the
Participant, with a iOO% survivor annuity paid monthly for a period of five years following
the death of the Participant to the beneficiary, provided that the following such five year period
the survivor annuity shall be reduced to 50% of the original survivor annuity amount., (See
Section 2.397 (a) (3) (A)).. The Participant's surviving spouse, or if no surviving spouse,
dependent children under the age of 118, shall be deemed to be the beneficiary. (Section 2.397
(a)(3) and Section 2.398 (e) (3))
Option 2. Lifer Annuity.
The Participant receives his/her pension as long as he/she lives. Upon the death of the
Participant, benefits cease. {Section 2.398 (b) (2)(A) (i))
Option 3. 19 Year CertaIn - A- Life Annul y.
The Participant receive his/her pension as long as he/she lives. If the Participant dies before
120 monthly payments have been made, the remaining payments up to the 120 payments are
made to his/her beneficiary, or to his estate if his/her beneficiary is not alive. (Section 2.398
(b) (2)(A)(11))
Option 4. 50% .fofnt Survivor Annstlty.
The Participant receives his/her pension as long as he/she lives. If the Participant dies first,
the beneficiary receives 50% of the pension for the rest of their life. If the beneficiary dies
first, the employee continues to receive 100% of his/her pension and upon the death of the
Participant, benefits cease. (Section 2.398 (b)(2) (A) (iii))
Option S. ty.
The Participant receives his/her pension as long he/she fives. If the Participant dies. first, the
beneficiary. receives 75% of the pension for the rest of their life.' If the beneficiary dies first,
the employee continues to receive 1001/16 of his/her pension and upon the death of the
Participant, benefits cease. (Section 2,398 (b) (2) (A) (111)?
012-tion __a. 14
The Participant receives his/her pension as long as he/she lives, It the Participant dies first,
the beneficiary receives 100% of the pension for the rest of their life. If the beneficiary dies
first, the Participant continues to receive 100% of his/her pension and upon the death of the
Participant, benefits cease. (Section 2.398 (b) (2) (A) (111)}.
1+ _ ?A?`?_ Mt??? an employee of the City of
Clearwater and a Participant In the Employees' Pension Plan, have considered
the normal form of benefit payment under such Plan (which Is designated . on
this Form as Option 1) anA the various' alternative optional benefit payment
methods (Options 2 through 6) under such Plan and have elected to receive my
retirement benefits as Indicated below. (Note: Option selection to be Indicated
bath by Number and Description). I understand that once this Form is signed,
my decision Is Irrevocable.
Option # l
Option Description: Ja ±.?'T4 _,??.?'??Z ?k?Nti1•"~t
EMPLOYEE'S SIGNATURE
SOCIAL SECURITY NUMBER:
?UTT
Notary Public Nrf =11R .:614
My Commission expires:
Lr
'
Eyrj.+,u?+Ery.i. f..b ,Mtir ,,+r-i,^e:. ... .'i .. ....,.. .,,r>i ., :. , .s.w ,r'' ,.:x"I: , •s: •• .. s - ;^> + .1.
City of Clearwater Employees Pension Plan
" -Actuarlal Equivalence . Factors
113/96 '
sm
ciract0l '
Version:
Employee Name: Paul J. Noeske 12-29-95
Employee 'Date of Birth:' 10 19. 1948
Marital Status: M '
'' . Spouse.Date of Birth: 10 28 1949
Beneficiary' Date of Birth: 10 28 1949
Benefit Commencement Date : 1 3 1996
'
Estimated Monthly Pension: $2,674.58
Actuarial Equivalent Reduction Factors:
Factor Est. Pmt.
Normal Form 1.0000 $2,674:58
Life' Annuity 1.0565 $2,825.75
10 Year Certain 1.0497 $2,807,52
50% J&S 1.0205 $2,729.33
75% J&S 1.0034 $2,683.55
100% J&S 0.9868 $2,639.28
' r ' r
r
I?.SS-. "•.t?r{ i)
..St '!p1•t'. .'
"Sy: .a,7?w n.:.. IE ..w.ryn?e.... .....r"e:. M Ir, t-. i6: .. `/• ..v ... .{ [ 4.i .e .' '.I..• i
) ,'
.. ,
Estimated PensionWorksheet
Paul J. N. oeeke
055-4J-1529
G
CALENDAR ROSS
PENSION
YEAR EARNINGS
RESIGNATION DATE: 111196 1991 $44,324.21
• .. FORMULA DATE: 12/31/95
! 1992 $52,093.58
BENEFITS DATE: 1 /14174 ' 1993 $54,607.57
TOTALWORKED: 21.9639 1994 $55,109.06'
1995 .$59,549.33
$265,683.75 (5 Year Total)
5'/ $53,136.75 (Yearly Avg)
12/ $4,428.06 (Monthly Avg)
x 0.0275 (Benefit Rate)
x. 21.9639 (Yrs of Service)
$2,674.58 . (Est Mtiy Pension)
Signature:
Date:
l
Expect
resent
4
E ,
S '
J
i
.
Option C
k #
J Years
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
Annual Interest Rate
Annual Pension Amount
Pensioner Sex
Pensioner Age
Pensioner Life Expectancy
Years Remaining
Spouse Age
Spouse Life Expectancy
Years Remaining
hosen: Normal Joint R Su
Pensioner Spouse
AM- Ave
47 46
48 47
49 48
50 49
51 50
52 51
53 52
54 53
55 54
56 55
57 56
58 57
59 58
60 59
61 60
62 61
63 62
64 63
65 64
66 65
67 66
68 67
69 68
70 69
71 70
72 71
73 72
74 73
75 74
76 75
77 76
78 77
79 78
80 79
81 80
82 81
83 82
84 83
N0E15 KE
rvivor Annuity
Present Annual
Value Interest
435 635,89 29,371.19
432912-11 29,180.52
429,997.68 28,976.51
426,879.23 28,758.22
423,542.49 28,524.65
419,972.19 28,274.73
416,151.96 28,007.31
412,064.31 27,721.18
407,690.53 27,415.01
403,010.58 27,087.42
398,003.04 26,736.89
392,644.97 26,361.82
386,911.83 25,960.50
380,777,37 25,531.05
374,213.51 25,0 71.62
367,190.17 24,579.99
359,675.20 24,053.94
351,634.18 23,491.07
343,030.29 22,888.80
333,824.12 22,244.36
323,973.53 21,554.82
313,433.39 20,817.01
302,155.44 20,027.56
290,088.04 19,182.84
277,175.92 18,278.99
263,359.95 17,311.87
248,576.86 16,277.06
232,758.96 15,169.80
215,833.81 13,985.04
197,72189 12,717.35
178,346.28 11,360.92
157,612.23 9,909.53
135,426,81 8,356.55
111,688,40 6,694.86
86,288.30 4,916.86
59,110.20 3,014.39
30,029.63 1,540.41
15,522,56 524.92
7,0%
--132,094-96 Ettecdve 1103196
Male
47
77
31
46
83
38
Amount
32,094.96
32.094.96
32 094.96
094,96
4.32094.96
3
32 094.96
32 094.96
32 094.96
32 094.96
32,094,96
32,094.96
32,094.96
32,094.96
Balance
432,912.11
429,997.68
426,879.23
423,542.49
419,972.19
416,151.96
412,064.31
407,690.53
403,010,58
398,003,04
392,644,97
386,911.83
380,777.37
374,213.51
367,190,17
359,675.20
351,634.18
343,030.29
333,824,12
323,973.53
313,433.39
302,155.44
290,088.04
277,175.92
263,359,95
248,576,86
232,758.96
215,833,81
197,723,89
178,346.28
157,612.23
135,426.81
111,688.40
86,288,30
59,110.20
30,029.63
15,522.56
0.00
Il $1.187.514
104 1''M 006SK
1tIG1A7i1kt1JFIIFSV1iAt W3111?1?SIOMM? W1?J `7R'IOl'C?
• I
• r
TRUSTEES OF THE EMPLOYEES' PENSION FUND
Agenda Cover Memorandum
Item #
Medting Date: 1129196
Subject:
Pension to be Granted.
Recommendation/Motion:
Ralph Lucas, Fire Lieutenant, Fire Department, be granted a regular pension under Section(s)
2,393 and 2.397 of the Employees' Pension Plan as recommended by the Pension Advisory
Committee. •
? and that the a ro riate officials be authorized to execute same.
BACKGROUND:
Ralph Lucas, Fire Lieutenant, Fire Department, was employed by the City April 13, 1966,
and his pension service credit is effective that date. His retirement will be effective on
January 25, 1996.
Lieutenant Lucas' pension was approved by the Pension Advisory Committee (PAC) on
January IL 1996. 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 ns a Firefighter as meeting the hazardous duty
criteria.
Based on an average salary of approximately $50,833.16 per year over the past five years, the
formula for computing regular pensions, and Lieutenant Lucas' selection of the 100% Joint &
Survivor Annuity, this pension will approximate $40,198.20 annually. Charts from Finance which
take into consideration mortality 'rates and age reflect the "present value cost of financing" this
pension will be approximately $567,910.96. The estimated pension cost (cash payout over the life
of the pensioner and his beneficiary is $1,849,117.
Reviewed by:
Legal NA
Budget NA
Purchasing NA
Risk Mgmt. NA
CIS
ACM t2-
Other N^
Submitted by:
City Manager
Originating Dept:
Human Resource;
User Dept.:
Advertised:
Date:
Paper:
? Not required
Affected parties
? Notified
? Not required
osts: $567,911
Total
Current Fy
Funding Source:
? Capt. Imp.
? Operating
? Other Pension
Appropriation Code:
OD
Commission Action:
? Approved
? Approved wlconditions
? Denied
? Continued to:
Attachments:
Letter(s)
? None
! .
•
Human Resources Daparlment
(813) 4626870 . .
C I T Y O F
C L E A R W A T E R
POST OFFICE BOX 4748
CLEARWATER, FLORIDA 34618-4748
Honorable Mayor and Members of the' City Commission as Trustees of the
Employees' Pension Plan
FROM. Pension Advisory Committee
COPIES: Debbie Bailey, Payroll Services Manager
Employee's File
SUBJEC'T: Regular 'Pension-Ralph Lucas
DATE: January 11, 1996
The Pension Advisory Committee received an application. for regular pension from Ralph
Lucas on January It, 1996.'
Mr. Lucas was employed by the City on April 13, 1966, and has been a participant in t h e
Pension Plan since that date. The amount of Mr. Lucas's pension will be computed by the
Finance Department at such time as his last five years of, service and salary qan be
calculated.
By motion made and duly carried at its meeting of January 11, 1996, the Pension Advisory
Committee approved/recommended a regular pension based on years of service for Ralph
Lucas in accordance with Sections 2.393 and 2,397 of the Pension Ordinance. This pension
will be effective on January. 25, 1996, at the end of shift.
I hereby certify that the Pension Advisory Committee has approved the granting of a
regular retirement pension for Ralph Lucas and the above dates are correct.
Secretary, /Pension Adyfsory Committee
"Equal Employment and Affirmative Action Employer"
PENSION REQUM FORM
I. do hereby apply to retirement from the
City of Clearwater General Employees' Pension Plan:
My job classification is _ ??- 1- ?E ?, ? *? ?. T `. and I work in the
r ? ?,E Department, E n S Division.
My benefits date is,- i j C5 1 L ? My date of hire is u n c,
My date of birth is a ??? u n My resignation date is i 1 A 5 Lq- C.
My spouse's name is o a, and birthday is ,a (x.,:5.2
Dependent children under the age of 18 and residing in my household are:
Child's Flame Sex Date of Birth
The type of pension for which I run applying is (check only one):
-?_X.-__w Regular Pension based on years of service
Job-connected Disability Pension
Non-job-connected Disability Pension
The City of Clearwater Employees' Pension Plan provides multiple options to Plan Participants as to
the manner of the pension benefit payment. Option 1 below represents the standard or normal form of
retirement benefit. The other optional forms (#2 - #d) shall be computed to be the Actuarial
Equivalent of the normal benefit.
Og!tion 1- Joint and Survivor Annuity
The normal form of retirement benefit shall be an annuity paid monthly for the life of the
Participant, with a 104°/a survivor annuity paid monthly for a period of five years following the
death of the Participant to the beneficiary, provided that following such five year period the
survivor annuity shall be reduced to 50% of the original survivor annuity amount. [See section
2.397 (a) (3) (A)] The Participant's surviving spouse receives the designated amount for the
rest ofhisther life or until he/she remarries. If no surviving spouse, dependent children under
the age of 18, shall be deemed to be the beneficiary and receive the designated amount until the
age of 18. (Section 2.397 (a) (3) and Section 2.398 (e) (3)]
Option 2_-Life Annuity
The Participant receives his/her pension as long as he/she lives. Upon the death of the
Participant, benefits cease. (Section 2.398 (b) (2) (A) (i)]
Q Lion 3 - 1Q Year Certain & Life Annul - (must designate a beneficiary)
The Participant receives his/her pension as long as he/she lives. If the Participant dies before
120 monthly payments have been made, the remaining payments up to the 120 payments arc
made to his/her beneficiary, or the his estate if his/her beneficiary is not alive. [Section 2.397
(b) (2) (A) (ii)]
Option 4 - SW1* Joint & 5urvivor_Annaitt - (must designate a beneficiary)
The Participant receives his/her pension as long as he/she lives. If the Participant dies first, the
beneficiary receives 500/a of the pension for the rest of their life. If the beneficiary dies first,
the Participant continues to receive I40"/o of his/her pension and upon-his/her death, benefits
cease. [Section 2.398 (b) (2) (A) (iii))
I
Option _5 -,75% Joint & Survivor Annu& - (must designate a beneficiary)
The Participant receives his/her pension as long as he/she lives. If the Participant dies first, the
i beneficiary receives 75% of the pension for the rest of their life. If the beneficiary dies first;
the Participant continues to receive IM/e of his/her pension and upon his/her death, benefits
cease. [Section 2.398 (b) (2) (A) (iii)]
i•
Qation 6 - 300'9/. Joint & Survivor Annuity - (must designate a benertelary)
The Participant receives his/her pension as long as he/she fives. If the Participant dies first, the
beneficiary receives 100% of the pension for the rest of their life. If the beneficiary dies first,
the Participant continues to receive 100% of his/her pension and upon his/her death, benefits
cease. [Section 2.398 (b) (2) (A) (iii)]
I have considered the normal form of benefit payment under such Plan (which is designated on this
Form as Option I) and the various alternative optional benefit payment methods (Options 2 through 6)
under such Plan and have elected to receive my rctirement benefits as indicated below. (Note: Option
selection to be indicated both by Number and Description.) I understand that once this Form is signed,
my decision is irrevocable.
Option Description: 0 0 % _ r7_~_ `y_,C_y_? ?D ??J?Vui'?
My designated beneficiary is: /?r?Q? ,? U??S _ .
?S
Date of Birth: Z I Social Security Number Z6,5 -- 63 - S -7
Employee's Signature: r?
6
Employee's SSN: 3 Z -- f 7!'z_ Date: :E Z2
STATE OF FLORIDA a Are oinQ i_nstrume t W?s kn wl ged before rite this
COUNTY OF PINELLAS by ' -T . ?.1? `CtC- ? hods
personally known to me or who has provided - l_ C NN t \ #rv.k
?,. as identifeation and who did/did not take an oath.
Public
r ?
r ti (Si lute) r
L.Na?rr e of Notary Printed
My Commission expires:
CITY 'OF CLEARWATER, FLORIDA
STATEMENT OF RESIGNATION
Ralph Lucas employed as Fire Lieutenant
I. . -- - -
in the y Division of Fire - -- - - - Department
do hereby resign from the service of the City of Clearwater. I rquest that this resignation he duty accepted by my Depart.
ment Mead and the Appointing Authority to become effective on ? Z, .6
? ref P.M. 11 r
at ? LA.M. The rcauin for this resignation is as follows:
Employet:'s signature-, ems We signed A
DEPARTMENT ACTION:
Approved by Division Head Date
Division !-lead Comments (Optional)
Appnived by Depurtnzent Head Date
Department Head Comments (Optional)
ACTION OF APPOINTING AUTHORITY
I accept this resignation to became effective on the dutc and at the time shown aNive.
Date
Appointing Authority
Appointing Authority Comments 10ptional)
IMPORTANT ;MOTE: The reason for this resignation must be shown in the space provided. The original furor. when
.igned by the unlployce and the division and department head. is u) be attached tit the perutnael action sheet and forwarded
It, the PerW)nnel Office. Personnel action sheet must reflect the status of any City ttttmics dw to or by this employee
in uccordanec with the Civil Service Rules and collective burguining agrevincnty currently in effect.
I
PENSION REQUEST FORM
h Ralph Lucas do hereby apply for retirement from the City of Clearwater
General Employees' Pension Plan.
My benefits date is 4/13/66 (Entry date into pension plan)
M y date of hire is 4/13/66
My birthday is 2/15/40
My job classification is Fire Leutenant and I work in the
Fire Department, ..TAMS Division.
My. resignation date is
The type of pension for which I am applying is (check only one):
xxx Regular Pension based on years of service .
Job-connected Disability Pension
Non-job-connected Disability Pension
My spouse's name is: Andrea (211/58)
Dependent children under the age of 18 and residing in my household are:
Matthew ?iucas 2/28/05
(Print Child's Full Name) (Child's Date of Birth)
I hereby certify all of the above to be true and correct:
(Signature)
(Date) -
STATE OF FLORIDA T?e ?,.f regoing ?tr? m nt was acknowledged before me this
COUNTY OF PINELLAS by ' who is rsonally
nown to me or who as produced `L" .
as identification and who did/did not take an oath.
Notary Public
(Signature)
\ 1? ` Commission No.
CYN-MIA M ,40NDEREON
INMARY PUBLIC STATr OF RORTDA
Cq\1?.liS?iCfti tiD cc:)., 49
CITY OF CLEARWATER
GENERAL' EMPLOYEES' PENSION PLAN
OPTIONS - FIREFIGRTERS
OPTION #11: Empioyees can receive -a lump sum payment for vacation and
holiday pay and 112 of accrued sick leave at the time of
separation from the City. There will be no 6% deduction for
pension from this lump sum payment nor will this amount count
as earnings in the calculation of the pension. The last day of
work will be the termination date and pension benefits will begin
the following day.
OPTION #2: Employee can extend termination date by the time due for
vacation, holiday pay, and 112 of accrued sick leave. Termination
date will be the final day of extended time. Pension benefits will
begin the following day.
(Only available to employees hired prior to 1011/88.)
*********?***?*#s?s?s******sss***?•**gars*****??****?*****?*???*****
an employee of the City of Clearwater, hereby apply for
pension benefits under the City's Employees' Pension Plan.
I hereby certify that I fully understand the two options offered to me. I choose to retire using
Option # _ nd wish my benefits to be calculated under this option.
I understand that once this form is signed, nay decision is irrevocable.
EMPLOYEE'S SIGNATURE:
SOCIAL, SECURITY #:.-- Z9 ! - .2 12 3
WITNESSES: ADDRESS: __ ASS S _ VJ:5.5 r0 Al T
t DATE: / b
3N
9
4
•'•rl Y'. g?r?iyr?'?','L? et'. f_fi.lrt St... "!t '.J `.?t..f. .',(? j1 ' .. r.?- .. s ? . .•i :?i•'. .i i? .. .. ,.. ?.t ??.. '? ?. ? ?f I i i, e
Estimated , Penslon Worksheet
Ralph, Lucas
291-32-1732
?
?
? ?
`
•
'
. ? Ca
R06S
CALENDAR PENSION
YW EARNINGS
RESIGNATION DATE: 1 /1 /96 1991 $46,328.03
' FORMULA DATE: 12/31/95'. 1992 $51,863.79
BENEFITS DATE: 411'3/66 1993 $49,967.19
TOTAL WORKED: 29.7'167 1994 $52,058.03
1995 $53,948.76
$254,165.80, (5 Year Total)
5/ $500833.16 (Yearly Avg)
Signature: III?
Date:
12/ $4,236.10 (Monthly Avg)
x 0.0275 (Benefit Rate)
x 29.7167 (Yrs of Service)
$3,461.78 (Est Mtly Pension)
. ctractol
Version:
Employee'Name: Ralph Lucus 12-29-95
Employee Date „of 'Birth: 2 15 1940
Marital . Status: M
Spouse .Date of Birth: 2 1 1958
Beneficiary, Date of Birth: 2 1 1958
Benefit Commencement Date : 1. 30 1996
Estimated Monthly Pension: $3,461,.78
Actuarial Equivalent Reduction Factors:
Factor Est. Pmt
Normal Form 1.0000. $3,461.78
Life Annuity 1.1543 $3,995.82
10 Year Certain 1.1358 $3,931.97
50% J&S 1.0528 $3,644.43
75% J&S 1.0084 $3,490.94
100% J&S 0,9677 $3,349.85
L
f
t
tf ? '
LOCAils
Annual Interest Rate
Annual Pension Amount
Pensioner Sex
Pensioner Age
Pensioner Ufe Expectancy
Years Remaining
Spouse Age
Spouse Life Expectancy
Years Remaining
pt on Chosen: 100`9
# Pensioner Spouse
Years Age Age
1 55 37
2 56 38
3 57 39
4 58 40
5 59 41
6 60 42
7 61 43
8 62 44
9 63 45
10 64 46
11 65 47
12 66 48
13 67 49
14 68 50
15 69 51
16 70 52
17 71 53
18 72 54
19 73 55
20 74 56
21 75 57
22 76 58
23 .77 59
24 78 60
25 79 61
26 80 62
27 81 63
28 82 64
29 83 65
30 64 66
31 85 67
32 86 68
33 87 69
34 88 70
35 89 71
36 90 72
37 91 73
38 92 74
39 93 75
40 94 76
41 95 77
42 96 78
43 97 79
44 98 80
45 99 81
46 100 82
ma4rAu:jnLmV1tAV7lWENS107Y1 EArALWA3
Present
Value
567 910.96
564,078.62 .
561, 958.99
559,690.98
557, 264.21
554,667.57
551,889.17
548, 916.27
545,735.27
542, 331.60
538, 689.68
534,792.82
530,623.18
526,161.67
521,387.85
516, 279.86
510,814.31
504, 966.18
498,708.67
492, 013.14
484,848.92
477,183.21
468,980.90
460, 204.43
450,813.60
440, 765.41
430,013.86
418,509.69
406, 200.23
393, 029.11
378,936.01
363, 856.39
347,721.20
330,456.55
311,983.37
292, 217, 07
271,067.13
248,436.69
224, 222.12
198,312.54
170, 589.28
140,925.39
109,185.03
75, 222.84
38, 883.31
Annual
interest
38,346.83
38, 217.23
38,078.57
37,930.19
37,771.43
37,601.56
37,419.79
37, 225.30
37,017.20
36,794.53
36,556.28
36, 301.34
36,028.56
35,736.69
35,424.38
35,090.21
34,732.65
34, 350.06
33, 940.70
33,502.67
33,033.98
32,532.49
31,995.89
31,421.73
30, 807.37
30,150.01
29, 446.64
28,694.03
27,888.74
27, 027.08
26,105.10
25,118.58
24,063.01
22, 933.55
21,725.02
20,431.90
19,048.26
17, 567.76
15,983.63
14, 288.61
12,474.94
10, 534.31
8,457.84
6,236.01
3,858.66
1,314.89
_ 7.0%
$40,198,20 Effective 1/301196
- Male
55
77
23
37
82
46
Balance
566, 059.59
564, 078.62
561, 958.99
559, 690.98
557, 264.21
554,667.57
551,889.17
548, 916.27
545,735.27
542,331.60
538,689.68
534,792.82
530,623.18
526,161.67
521,387.85
516, 279.86
510, 814.31
504,966.18
498,708.67
492, 013.14
484, 848.92
477,183.21
468,980.90
460, 204.43
450,813.60
440,765.41
430,013.86
418, 509.69
406, 200.23
393,029.11
378,936.01
363, 856.39
347, 721.20
330,456.55
311, 983.37
292, 217.07
271, 067.13
248,436.69
224, 222.12
198,312.54
170, 589.28
140, 925.39
109,185.03
75, 222.84
38,883.31
0.00
OJA69&
Amount
r7
TRUS'IE'EES OF THE EMPLOYEES' PENSION FUND Item if
Agenda Cover Memorandum Meeting Date: 1125198
???,q?I,?IPIPIII?I???? ? III IIII II ???????rrrrrrlr??rr• I?Iqu?piP?ginr??r??rr??rr?//?Ir?
Subject:
Pension to be Granted.
Recommendation/Motion:
Frederick R. Casale, Police Officer, Police Department, be granted a regular pension under
Section(s) 2.393 and 2.397 of 'the Employees' Pension Plan as approved by the Pension Advisory
Committee.
? and that the a pro riate officials be authorized to execute same.
BACKGROUND:
Frederick R. Casale, Police Officer, Police Department, was employed by the City
on July 31, 1972, and his pension service credit is effective on that date. His retirement will be
effective on September 19, 1996.
Officer Casale's pension was approved by the Pension Advisory Committee (PAC) on January 11,
1996. 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 sworn police officer as meeting the hazardous duty
criteria.
Based on an average salary of approximately $42,885.25 per year over the past five years, the
formula for, computing regular pensions, and Officer Casale's selection of the standard benefit
payment, this pension will approximate $27,619.56 annually. Charts from Finance which take into
consideration mortality rates and age reflect that the "present value cost of financing" this
pension will be approximately $352,314.49. The estimated pension cost (cash payout over the life
of the pensioner and his spouse) is $948,271.
Reviewed by:
Legal NA
Budget NA
Purchasing NA
Risk Mgmt, NA
CIS
ACM _
Other NA
Submitted by:
City Manager
Originating Dept:
Human Resource;
User Dept.:
Advertisod:
Date:
Paper:
? Not required
Affected parties
? Notified
? Not required
Costs: $252,314 Commission Action:
Total
? Approved
? Approved w/conditions
Current FY ? Denied
? Continued to:
Funding Source:
? Capt. Imp.
? Operating '
? Other Pension Attachments:
Appropriation Code: Letter(s)
646.07410-514]40.565. ? None
Q.QQ
C I T Y OF C: ' L 'E A R W •A T E R,
POST OFFICE BOX 4748
CLEARWATER, FLORIDA 34818-4748
Human Resources Department
(813)462-"70
TO Honorable Mayor and Members of the- City Commission as Trustees of the '
Employees' Pension Plan" "
FROM: Pension Advisory Committee
COPIES: Debbie Bailey, ' Payroll Services Manager
Employee's File
SUBJEC'T': Regular Pension-Frederick R. Casale
DATE: January 11, 1996
The Pension Advisory Committee received an application for regular pension from
Frederick R. Casale on January 11, 1996.
Mr. Casale was employed by the City on July 3 1 , 1972, and has been a participant in t h e
'Pension Plan since that date. The amount of Mr. Casale 's pension will be computed by the
Finance Department at such time as his last five years of, service and salary can be
calculated.
By motion made and duly carried at its meeting; of January 11, 1996, the Pension Advisory
Committee approved/recommended a regular pension based an years of service for
Frederick R. Casale in' accordance with Sections 2.393 and 2.397 of the Pension Ordinance.
This pension will be effective on September 19, 1996, at the end of the day.
T hereby certify that the Pension Advisory Committee has approved the granting' of" a
regular retirement pension for Frederick R. Casale and the above dates are correct.
Secretary, /Pension Aoisory Committee
W
"Equal Employmont and Affirmative Action Employer"
PENSION REQUEST FORM
Frederick R. Casale
I, do hereby apply for retirement from the City of Clearwater
General Employees' Pension Plan.
My benefits date is 7/31/72 (Entry date into pension plan)
M y date of hire is 7/31/72
My birthdiay is 2/12/47
My job classification Pol.ice Officer
is and I work in the
Police Department, Patrol Division.
M y resignation date is September 19, 1996,
The type of pension for which I am applying is (check only one):
xx Regular Pension based on' years of service
.Yob-connected Disability Pension
Non-job-connected Disability Pension
My spouse's name is: Susan Casale (11/26/46)
Dependent children under the age of IS and residing In my household are:
(Print Child's Full Name)
(Child's Date of Birth)
I hereby certify all of the above to be true and ect: ?/
„
/ ignat l
l
(Date)
S'T'ATE OF FLORIDA The foregoing instrument was acknowledged before me this
COUNTY OF PINELLAS 1-.2 . g G. by F ,-.e t1 ` le Ca j.: L.I. , wh o is. personally
known to me or who has produced T L- Dr.v+r's ?-• < <._, {
as identification and who did/did not take an oath.
?' C`S``r-
._...., Notary Public
(Signature)
OFFICIAL NOTARY SEAL Commission No.
DEBORAH K STRUT
NOTARY PUBLIC STATE OF FLORIDA
? ?o r n, t, ?C. ?+'-,, 4+
(Name of
Notary Printed)
y )
COMMISSION NO. CC263329
?3M4i ae?n?; r ooy
my E
CITY OF CLEARWATER
GENERAL EMPLOYEES' PENSION PLAN
OPTIONS -POLICE OFFICERS
OPTION-' #1: Employees can receive a lump sum payment for vacation -and
holiday pay and 112 of accrued, sick leave at the time of
separation from the City. There will be no 6% deduction for
pension from this lump sum payment nor will this amount count
as earnings 'in the calculation of the pension. The last day of
work will be the termination date and pension benefits will begin
the following day.
OPTION, #2: Employee can extend termination date by the time due for
vacation, holiday pay, and 1?9 of accrued sick leave. Termination
date will be the final day of extended time. Pension benefits will
begin the following day.
(Only available to employees hired prior to 10/1190.)
OPTION #3: Employees can split their accumulated sick time at one-quarter
pay and one-quarter early retirement time. That portion
received as one-quarter pay will not have 6 ° I o deducted f o r
pension nor - will it count as earnings in the calculation of the
pension. The portion applied toward early retirement time will
be subject to the 6% pension deduction and will count as earnings
for pension calculations. Termination date will be the final day
of extended time; pension benefits will begin the following day.
(Only available to employees hired prior to 10/1/90.)
I? Frederick R. Casale an employee of the City of Clearwater, hereby apply for
pension benefits under the City's Employees' Pension Plan.
I hereby certify that I fully understand the two options offered to me. I choose to retire using
Option # 2 and wish my benefits to be calculated under this option.
I understand that once this form is signed, my decision is irrevocable.
EMPLOYEE'S SIGNATURE. _ _--
SOCIAL SECURITY #: 093-38--3887
WITNESSES: ADDRESS. _ 2893 Catherine Dr.
Clearwater FL 34619
DATE: _ 12/15/95
0
CITY. OF CLEARWATER, FLORIDA
STATEMENT OF RESIGNATION
Frederick R. Casale Police officer
I. . employed as
Patrol Police
in the Division of Dcpartntent
do hereby resign from the service of the City of Clearwater. I request that this resignation be duly accepted by my Depart.
ment Head and the Appointing Authority to became effective on 992tember 19. 1996 _
end of P.M.
at the, day A.M. The reason for this resignaiitin is as follows:
Retirement after 24 years service.
' - ? /z,- Date si
good ? ?7
Employee's signatu L
z :z
DEPARTMENT ACTION:
Approved by Division Head Date
Division Herd Comments (Optional)
Approved by Department Head Date
Department Head Comments (Optional)
ACTION OF APPOINTING AUTHORITY
I accept this resignation to become effective on the date and at the time shown above.
Date
Appointing Authority
Appointing Authority Comments (Optional) _
IMPORTANT :MOTE: The reason for this resignation must be shown in the space provided, The original form. when
signed by the employee and the division and department head. is to be attached to the personnel action sheet and forwarded
to the Personnel Office. Personnel action sheet must reflect the status of any City monies due to or by this employee
in accordance with the Civil Service Rules and collective bargaining ugritimcnis currently in elfect.
X4:%r%A 2-K7
L",:
a
'CITY OF CLEARWATER, FLORIDA
EMPLOYEES' PENSION PLAN
pennion _ J!Ia,2. S%tiection stLNgrmaL- R_etfrernent
fut. aavment RLAi,ternatlyg_ Bg. ofit Pn=ef - Oetlon
The City of Clearwater Employees' Pension Plan provides multiple options to Plan Participants
as to the manner of the pension benefit payment. Option i below represents the standard or
normal form of retirement benefit. The other optional, forms (#2 - #6) shall be computed to
be the Actuarial Equivalent of the normal benefit.
Option 1. "nLand Surv vor Annuity.
The normal form of retirement benefit shall be art annuity paid monthly for the life of the
Participant, with a 100% survivor annuity paid monthly for a period of five years following
the death of the Participant to the beneficiary, provided that the following such five year period
the survivor annuity shall be ? reduced to S0%' of the original survivor annuity amount. (See
Section 2.397 (a) (3) (A)). The Participant's surviving spouse, or if no surviving spouse,-
dependent children under the age of 18, shall be deemed to be the beneficiary. {Section 2.397
(a)(3) and Section 2.398 (e) (3))
Option 2. LIfe-Annuity.
The Participant receives his/her pension as long as he/she lives. Upon the death of the
Participant, benefits cease. {Section 2,398 (b) (2)(A) (i))
Option 3. 10-Yoar---QQ rtain & Life Apnulty.
The Participant receive his/her pension as long as he/she lives, if the Participant diesj2W=
120 monthly payments have been made, the remaining payments up to the 120 payments are
made to his/her beneficiary, or to his estate if his/her beneficiary Is not alive. {Section 2.398
(b) (2)(A)(II))
Option 4.
The Participant receives his/her pension as long as he/she lives. If the Participant dies first,
the beneficiary receives 50% of the pension for the rest of their life. If the beneficiary dies
first, the employee continues to receive 100% of his/her pension and upon the death of the
Participant, benefits cease. (Section 2.398 (b)(2) (A) (iii))
I
Option. S. 76% joint A Survivor may,
The Participant receives his/her pension as long he/she lives. If the Participant dies first, the
beneficiary receives 75% of the pension for the rest of their life.-.' If the beneficiary dies first,
the employee continues to receive 100% of his/her pension and upon the death of the
Participant, benefits cease. (Section 2.398 (b) (2) (A) (ill))
Qp lon AL 100% Joint__ & Suryiyor__ Annuity_
The. Participant receives his/her pension as long as he/she lives. If the Participant dies first,
the beneficiary' receives 100% of the pension for the rest of their life. If the beneficiary dies
first, the Participant continues to receive 100% of his/her pension and upon the death of the
Participant, benefits cease. (Section 2.398 (b) (2) (A) (iii)).
i* ________________---------------- an employee of the City of
Clearwater and a Participant in the Employees' Pension Plan, have considered
the normal form of benefit payment under such Plan (which is designated on
this Form as Option 1) amd the various alternative optional benefit payment
methods (Options 2 through 6) under such Plan and have elected to receive my
retirement benefits as Indicated below. (Note: Option selection to be Indicated`
both by Number and Description). I understand that once this Form is signed,
my decision is irrevocable.
Option #
Option Description:
EMPLOYEE'S SIGNATURE
SOCIAL SECURITY NUMBER:. r-3 3 17
STATE OF FLORIDA The foregoing instrument was acknowledged
COUNTY OF PINELL S before me this /',;2-96 by Fri oLt r t c t` Ca %,L (o~
n? lG _ r - - - _ _ - who is personnaly known to me or who has -
_ _ provided F L_ Ur a ?l r? Ll.r ,^stas identification and
Notary Publlc who did/did not take an oath.
??borc_h_IC_ S?ruf
(Name of Notary Printed)
My Commission expires:
rFIC1AL NOTARY •A
DEBORAH K STRU'IT
NOTARY PUBLIC STATE OF FLORIDA
COMMISSION NO. CC283329
MT E?!bjtd act PXP: MAY aa7
L
j Ff;: ':•'! r.'Y.•tYl ,.... . .. .. . ' w... . .F ,.r a ..i,. ,f7 ' ... '•y,. , , , : i t S't: r.. , .. , ' ,
Estimated Penslon' Worksheet'
" Frederick R. Casale
093-38-3887
CALENDAR GFK)SS
PENSION
YEAR EARNINGS
RESIGNATION DATE: 111196 1991 $38,794.20
FORMULA DATE: 12131195 1992 $44,126.10
BENEFITS DATE: 7131172 1993 $41,947.16
TOTAL WORKED: 23.4194 1994 $43,697.48
1995 $45,899.29
$214,426.23 (5 Year Total)
' 5/ $42,885.25, (Yearly Avg)
12l $3,573.77 (Monthly Avg)
x 0.0275 (Benefit Rate)
A 23.4194 (Yrs of Service)
$2,301.63_ (Est Mtly Pension)
Signature:
Date:
C7
City of Clearwater Employees" Pension Plan '? ,
Actuarial Equivalence Factors ;
1/3/96
' sm
clractOl
Version:
-Employee Name: Frederick R. Casale 12-29-95
Employee Date of Birth: 2 12 '1947
. Marital Status: -M
,I Spouse Date of Birth:; -11 26 1946
Beneficiary Date of Birth: ' 1 1 26 1946
Benefit Commencement Date : 9 19 1996
Estimated Monthly Pension:
? $2,301.63
.
Actuarial Equivalent Reduction
Factors:
Factor Est. Pmt.
Normal Form 1.0000 $2,301.63
' Life Annuity 1.0632 $2,447.15
10 Year Certain 1,0539 $20425.59
50/0. J&S 1.0228 $2,354.13
75% J&S 1.0037 $2,310.22
100% J&S 0.9854 $2,267.91
Expected Pension Cost (Cash _Payout _Over _Life of Pensioner and Spouse
a;
Presen t Value of Expected Pension _Cos# G4\sP? L:>=
Annual Interest Rate 7.0%
Annual Pension Amount $27,619.56 'Effective 9119196
Pensioner Sex Male
Pensioner Age 48
Pensioner Life Expectancy 77
Years Remaining 30
Spouse Age 49
Spouse Life Expectancy 83
Years Remainin 35
O tion Chosen: Normal Joint & Survivor Annul!
# Pensioner Spouse Present Annual Amount
Years Age A ge Value Interest Paid Balance
1 48 49 352,314,M 24,339.79 9,206.43 367,447.86
2 49 50 24,754.67 27,619.56 364,582.96
3 50 51 364,582.96 24,554.12 27 619.56 361,517.52
4 51 52 361,517.52 24,339.54 27 619.56 358,237.51
5 52 53 358,237.51 24,109.54 27 619.56 354,727.89
6 53 54 354,727.89 23,864.27 27 619.56 350,972.59
7 54 55 350,972.59 23,601.40 27 619.56 346,954.43
8 55 56 346,954.43 23,320.13 27 619.56 342,655.00
9 56 57 342,655.00 23,019.17 27.6 9.56 338,054.60
10 57 58 338,054.60 22,697.14 27.6 9.56 333,132.18
11 58 59 333,132.18 22,352.57 27 619.56 327,865,19
12 59 60 327,865.19 21,983.88 27 619.56 322,229,51
13 60 61 322,229.51 21,589.38 27 619.56 316,199.33
14 61 62 316,199.33 21,167.27 27 619.56 309,747.03
15 62 63 309,747.03 20,715.61 27 619.56 302,843.08
16 63 64 302,843,08 20,232.33 27 619.56 295,455.85
17 64 65 295,455.85 19,715.23 27 619.56 287,551.52
18 65 66 287,551.52 19,161.92 27 619.56 279,093.88
19 fib 67 279,093.88 18,569.89 27 619.56 270,044.21
20 67 68 270,044.21 17,936.41 27.6 9.56 260,361.06
21 68 69 260,361.06 17,258.59 27 619.56 250,000.09
22 69 70 250,000.09 16,533.32 27 619.56 238,913.85
23 70 71 238,913.85 15,757.28 27,61 9.56 227,051.57
24 71 72 227,051.57 14,926.93 27 619.56 214,358.94
25 72 73 214,358.94 14,038.44 27 619.56 200,777.82
26 73 74 200,777.82 13,087.76 27 619.56 186,246.02
27 74 75 186,246.02 12,070.54 27 619.56 170,697.00
28 75 76 170,697.00 10,982.11 27 619.56 154,059.55
29 76 77 154,059.55 9,817.48 27,6 i 9.56 136,257.47
30 77 78 136,257.47 8,571.34 27 619.56 117,209.25
31 78 79 117,209.25 7,237.96 27 619.56 96,827.65
32 79 80 961827.65 5,811.25 27 619.56 75,019.34
33 80 81 75,019.34 4,284.67 27, 6'i 9.56 51,684.45
34 81 82 51,684.45 2,651.23 27 619.56 26,716.12
35 82 83 .26,716.12 903.44 0.00
$948 271
ILWATAIIMFZL MAVVYSVMVSMMCMAMWM D7116W
•' TRUSTEES OF THE EMPLOYEES'. PENSION FUND
Agenda Cover Memorandum
Item #
Meeting Date: 1/29/96
Subject:
Pension to be Granted.
Recommendation/Motion:
Allen H. Edelman, Senior Recreation Supervisor, Parks & Recreation Department, be granted a
regular pension under Section(s) 2.393 and 2.397 of the Employees' Pension Plan as approved by
the Pension Advisory Committee.
? and that the appropriate officials be authorized to execute same.
BACKGROUND:
Allen H. Edelman, Senior Recrention Supervisor, Parks & Recreation
Department, was employed on a part-time basis on December 21, 1959, and began participating as
a full-time employee in the Pension Plan on November 15, 1965. His retirement will be effective
on January 19, 1996.
Mr. Edelman's pension was approved by the Pension Advisory Committee (PAC) on
January 11, 1996. Section 2,393 (p) defines normal "retirement date as when a participant reaches
age 55 and has completed twenty years of credited service or when the participant has completed
thirty years of credited service regardless of age. Mr. Edelman is eligible under either criteria.
Based on an average salary of approximately $40,007.27 per year over the past five years, the
formula for computing regular pensions, and Mr. Edelman's selection of the 100% Joint &. Survivor
Annuity, this pension will approximate $30,826.80 annually. Charts from Finance which take into
consideration mortality rates and age reflect the "present value cost of financing" this pension
will be approximately $382,444.80. The estimated pension cost (cash payout over the life of t h e
pensioner and his spouse) is $832,324.
Reviewed by:
Legal NA
Budget NA
Purchasing b1A
Risk Mgmt. _NA__
CIS _ __ _NA__
ACM -1? .4/y
Other NA
.
Submitted by.
City Manager
Originating Dept:
Human Resources
.A
User Dept.:
Advertised:
Date:
Paper:
? Not required
Affected parties
? Notified
? Not required
Costs: $202-445
Total
Current FY
Funding Source:
? Capt. imp.
? Operating
? Other Pegalgo
Appropriation Code:
646.07414-514100.585-
aw
Commission Action:
? Approved
? Approved w/conditions
? Denied
? Continued to: _
Attachments:
Letter(s)
? None
Human Resources Department
(813) 462.6870
C I T Y O F C L E, 'A R W A T , E R
POST OFFICE BOX 4748
CLEARWATER, FLORIDA 34618-474a
M. Honorable Mayor and Members of the City Commission as Trustees of the' ,
Employees' Pension Plan
FROM: Pension Advisory Committee
COPIES: Debbie -Bailey, Payroll Services. Manager
Employee's File
SUBJECT: Regular Pension-Allen H. Edelman
DATE: January 11, 1996
The Pension Advisory Committee received an application for regular pension from Allen 14.
Edelman on January 11, 1996.-
Mr. Edelman was employed by the City on December 21, 1959, and has been a participant i n
the Pension Plan since ' November 15, 1965. The amount of Mr. Edelman'.,; pension ' will be
computed by the Finance Department at such time as his last five years of service and salary
can be calculated.
By motion made and duly carried at its meeting of January 11, 1996, the Pension Advisory
Committee approved/recommended a regular pension based on years of service for Allen H.
Edelman in accordance with Secti ons 2.393 and 2.397 of the Pension Ordinance. This
pension will be effective on January 19, 1996, at 5:00 P.M.
I hereby certify that the Pension Advisory Committee has a pproved the granting of a
regular retirement pension for Allen II. Edelman and the above dates are correct.
Secretary, Pension Advisory Committee
Equal Employmont and Alf Irmativo Action Employer`
.4.. ,
PENSION REQUEST FORM
I Allen H. EAelman
City of Clearwater General Employees' Pension Plam
do hereby apply to retirement from the
My job classification is senio r Supervisor and I work in the
??Zr?cs t; Ps crgatiaa Department, Division.
My benefits date is 11/15/65 My date of hire is __ •.Z,??? ,?
My date of birth is My resignation date is
My spouse's name is SeL•ty -Idelman and birthday is 7/2-5/38
Dependent children under the age of 18 and residing in my household are:
Child's Name Sex Date of Birth
The type of pension for which i am applying is (check only one):
xx Regular Pension based on years of service
Job-connected Disability Pension
Non-job-connected Disability Pension
The City of Clearwater Employees' Pension Plan provides multiple options to Plan Participants as to
the manner of the pension benefit payment. Option I below represents the standard or normal form of
retirement benefit. The other optional forms (#2 - 06) shall be computed to be the Actuarial
Equivalent of the normal benefit.
Option_ I_- Joint and Survivor Annuity
The normal form of retirement benefit shalt be an annuity paid monthly for the life of the
Participant, with a 140% survivor annuity paid monthly for a period of five years following the
death of the Participant to the beneficiary, provided that following such five year period the
survivor annuity shall be redid to 50% of the original survivor annuity amount. [See section
2.397 (a) (3) (A)] The Participant's surviving spouse receives the designated amount for the
rest of his/her life or until he/she remarries. If no surviving spouse, dependent children under
the age of 18, shall be deemed to be the beneficiary and receive the designated amount until the
age of 18. [Section 2.397 (a) (3) and Section 2.398 (e) (3)]
Option 2 - Life Annuity
The Participant receives his/her pension as long as he/she lives. Upon the death of the
Participant, benefits cease. [Section 2.398 (b) (2) (A) (i)]
Option 3 --10 Year Certain cat Life Annuity - (must designate a beneficiary)
The Participant receives his/her pension as long as he/she lives. If the Participant dies before
120 monthly payments have been made, the remaining payments up to the 120 payments are
made to his/her beneficiary, or the his estate if his/her beneficiary is not alive. [Section 2.397
(b) (2) (A) (ii)]
Option 4 - 5VA Joint & Survivor Annuity - (must designate a benePciary)
The Participant receives his/her pension as long as he/she fives. If the Participant dies first, the
beneficiary receives 50% of the pension for the rest of their life. - If the beneficiary dies first,
the Participant continues to receive 100% of his/her pension and upon his/her death, benefits
cease'. [Section 2.398 (b) (2) (A) (iii)]
Option S - 75% Joint & Survivor Annuity - (must designate a beneficiary)
The Participant receives his/her pension as long as he/she lives. If the Participant dies first, the
beneficiary receives 75% of the pension for the rest of their life. If the beneficiary dies first,
the Participant continues to receive 100% of his/her pension and upon his/her death, benefits
cease. [Section 2.398 (b) (2) (A) (iii)]
4 6tion 6 -100% Joint & Survivor Annul - (mast designate a beneficiary)
The Participant receives his/her pension as long as he/she lives. If the Participant dies first, the
beneficiary receives 104% of the pension for the rest of their life. If the beneficiary dies first,
the Participant continues to receive 100% of his/her pension and upon his/her death, benefits
cease. [Section 2.398 (b) (2) (A) (iii)]
I have consi& -red the normal form of benefit payment under such Plan (which is designated on this
Form as Option 1) and the various alternative optional benefit payment methods (Options 2 through 6)
under such Plan and have elected to receive my retirement benefits as indicated below. (Note: Option
selection to be indicated both by Number and Description.) I understand that once this Form is signed,
my decision is irrevocable.
Option M six Description: 2004 Joint & Survivor
My designated beneficiary is: 13erty Edelman ,•
Date of Birth: 7/25/33 Social Security Number. - -
Employee's Signature:
Employee's SSN: 1no-is-30'0
STATE OF FLORIDA fo egoing instrument acknowledYed before me this
COUNTY OF PINELLAS '? by ?? , ?-"?J?.(,? , wlsq is
personally known to me or who has provided t ; \4,
as identification and who did/did not take an oath.
---- Notary Public
"? (5ig?satuae)
\\ n+ _ +2??? Name of Notary Printed
My Commission expires:
1IyyI C}:,? T--''?i?C7? SKY :•r•,11.
COY!` fir;' IC'S1':'I
LY
CITY OF CLEARWATER, FLORIDA
STATEMENT OF RESIGNATION
1. ' Allen H. Edelman employed as Senior Supervisor
in the Recreation , Division of Parks & Recreation Dcpunmcnt
do hereby resign from the service of the City of Clearwatcr. Z request that this resignation he duly uccepled hy my Depart-
ment Head and thc'Appointing Authority to become effective an January 19, 1996
5:00 P.M.
at *MxThc reason for this resignution is as follow.s•:
Retirement after 36 years.
Employee's signature Date signed 1/2/96
DEPARTMENT ACTION:
Approved by Division Head Date
Division Head Comments (Optional)
Approved by Department Head Datc
Department Head Comments (Optional)
ACTION OF APPOINTING AUTHORITY
accept this resignation to become effective on the date and at the time shown atxivc,
Date
Appointing Authority
Appointing Authority Comments (Optional)
IMPORTANT NOTE: The reason for this resignation must be shown in the space provided. The original form. when
signed by the employee and the division and department head. is to be utiached to the perusnncl action shctt and forwarded
to the Personnel Ofticc. Pcrumnel action sheet must renccl the stutus of any City nx)nics dui to or by this employer
in accordance with the Civil Service Rules and collective barguining agromments currently in effect.
1a.,6%.'a :•K7
CITY OF (LEMATER
GENERAL EMPLOYEES' PENSION PLAN
OPTIONS - RETIRING FIREMEN & GENERAL EMPLOYEES
OPTION1; Employees can receive a lump sum payment for vacation and
holiday pay and 1/2 of accrued sick leave at.the' time of
separation from City; there will be no S% deduction for
pension from this lump sum payment nor will this amount
count as earnings in the calculation of the, pension.
The last day of work will be the termination date and
pension benefits will begin the following day.
OPTION #2: Employee can extend termination date by the time due for
vacation, holiday pay and 1/2 of accrued sick leave.
Termination date will be the final day of extended time;
pension benefits will begin the following day.
___..-.._-__--_----
I, ? ? an employee of the City of
(tee)
Clearwater, hereby apply for pension benefits under the General Employees;
Pension Plan.
I hereby certify that T. fully understand the two options offered to me.
I choose to retire using Option #_L_ and wish my benefits to be calculated
under this option.
I understand that once this form is signed, my decision is irrevocable.
Employee's
WITNESSES :
8dai_L, C4 .
Name:, [4 .?- wy • ???? -_? .?
?11cn N. Edal??n
Social Security #L PO `C 6- - o $' 7
Address: 4 rr,-o F.vr? )-,0. X
Date : ,
rummuLA uHI C:. i /i U/fib VVW NjtO,bL4U.1i/
r• BENEFITS DATE: 1 ?/151s5 , ' 1993 $39,616.36
TOTAL WORKED: 30.1778 1994 $40,840.87
1995 $42',244.07
$200,036.35 .(5 Year Total)
5/ $40,007.27. (Yearly Avg).
12/ $3,333.94 (Monthly Avg)
x 0.0275 (Benefit Rate)
•
x 30.1778 (Yrs of Service).
$2,766.80 (Est Mtly Pension)
Signature:
C??
Date:
i.. ,.... : „ t.?'P'i';....r•. 1.W....._ _ •r.... ..r4`69°r.9 a•(' tr"i'f r I: '•c".r .F:. . 1. .. e, F' r ne,... . ea;. ;.... t ..
City of Clearwater Employees' Pension- Plan
Actuarial Equivalence Fa ctors .. „ ..,
119/96
ESTIMATE sm
:. clractOl
' Version:
Employee Name: Allen H. Edelman 12-29-95 :
'. Employee. Date of Birth: 7 14 1922
• Marital 'Status: M
Spouse Date of Birth: ' 7 25 1938
Beneficiary Date of. Birth: 7 25 1938 .
' BenefitCommencement Date : 1 19 1996
Estimated Monthly. "Pension: $2,766.80 .
Actuarial Equivalent-Reduction Factors:'
Factor. Est. Pmt.
".. Normal Form 1.0000 $2,766.80
Life Annuity 1.4454 $3,999.14'
10 Year Certain 1.2503 $3,459.42
. 50% J&S 1.1307 . $3,128.30
75% J&S 1.0196 $2,821.13
100% J&S 0.9285 $2,568.90
ESTIMATE
Expected, Pension Cost LCash Payout Over Life of Penslc
Present Value of Expected Pension Cost n C -rv1 F4k
Annual Interest Rate
' Annual Pension Amount
Pensioner Sex
Pensioner Age
Pensioner Life Expectancy
Years Remaining
Spouse Age
Spouse Life Expectancy
Years Remainin
Option Chosen: 100% J&S
# Pensioner Spouse Present Annual
Years Ace Ate Value - Interest
1 • 73 57 382,444
80 25,692.20
2 74 58 ,
, 25,332.78
3. 75 59 371,816.17 24,948.19
4 76, 60 365,937.57 24,536.69
5 77 61 359,647.46 24,1196.38
6 78 62 352,917.04 23,625.25
7 79. 63 345,715.50 23,121.15
.8 80 64 338,009,84 22,581.75
9 81 65 329,764,79 22,004.60
10 82 66 320,942.59 21,387.04
11 83 67 311,502.83 20,726.26
12 84 68 301,402.30 20,019.22
13 85 69 290,594.72 19,262,69
14 86 70 279,030.61 18,453.20
15 87 71 266,657.01 17,587.05
16 Be 72 253,417.27 16,660.27
17 89 73 239,250.74 15,668.61
18 90 74' 224,092.55 14,607.54
19 91 75 207,873.29 13,472.19
20 92 76 190,518.69 12,257.37
21 93 77 171,949,26 10,957.51
22 94 78 152,079.97 9,566.66
23 95 79 130,819.83 8,078.45
24 96 80 108,071.47 6,486.07
25 97 81 83,730.74 4,782.21
26 98 .82 57,686,15 2,959.09
27 99 83 29,818.45 1,008.35
x.•su?r?krvxavrNStrfNSra+vkFn?xaux•u?r
7.0%
$30,826.80 Effecdve 1119/96
Male
73
80
8
57
83
27
Amount
Paid
30,826.80
30.826.80
1 30.826.80 1
801
30 826.80
30 826.80
30 826.80
30 826.80
30.826.80
8 Balance
P,30,8
377,310,20
371,816.17
365,937.57
359,647.46
352,917.04
345,715,50
338,009.84,
329,764,79
320,942,59
311,502.83
301,402.30
290,594,72
279,030,61
266,657,01
253,417.27
239,250.74
224,092.55
207,873.29
190,518.69
171,949.26
152,079.97
130,819.83
108,071.47
83,730,74
57,686.15
29,818.45
0.00
MM