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F` t .1 ,r. 5 r?r.f .'•i rE S,"i?. ct. :e`. :r. ;,5 r' ?f?t: '? r. •r d :?ti. ,.G„, "',C?. {1. tr:•i r. i{-..1,. ? ?if] '?°, 1'> 'tkr _ r ' "1 ??. 'F. ? ,,: r, :k„'. ?: iil'?•,': ;iF: ?35?'. rLo-ie5:4r, ,',•• irs `Et. i. .t'?:it9rs ?i• .?;. •'f hl'.1: 'r• •4 Drr?, .,t' r? J.S? '!.` '!.?^e r: !• lj. '[,. ?? "1'?}' ??. .+ ?'s'I l'.t,• ,t; r'r{ ( ;'f :,?" :s1 j`r..,i? .r. 4t`>•? F. ?s .`i r 1 r ' t . 1 r , r .?.Ag'end ension. '9,8 ' fly. •. ' i ' ? ? ? .. .. ? ? .,,? k.r?ilfi?lir?.;Tp. a1? +}? •}?• f{ .. f;? .I: i?. .•I• .p,., 'f ?l?, 1,'?'?_.';i ? 5?`E..YF.??,rY.?Ili N.??tJ . o f . ly' y '!'? ' 1. F >.. :1 t. rl.4, `. ;. .'?.' 's '°.'. ,1.'„ f ` -r.nkty CAS. ? \} :?' t•' I.l: .b•. 'l '1' 41 1 ? 1???'' '?{ ''1 ''x'1 , ACTION AGENDA Board of•Trusteas of the Employees' Pension Fund September 14; .1998 ' 1. Call to order 1.1:37 p.m. / 2. " Approval of Minutes: 8131198" 2. -Approved as submitted, ' 3. Request for acceptance ,3. Approved. . r - into. membership: a) Dale Chappell b) Gray Joyce `c) Jeffrey Palmer ' d) LaDrea Young e) Carol McAnally ' f) Joseph Gabay r. g) Robert Strieder ' - 1 h) Linda Truehaft F i) Linda Galioto t 1) Mary Ann Stuart k)'Robert Postell ! 1) Dexter Waters' . rn) Willie McGee ` n).Anthony Gammon t ' o) Tyrone Floyd t ; t ' p) Terrance R. Labelle f ' q) Brett Faulk r) Yvonne Becker € s) David Robertshaw . t) Kyle Resler i u) Robert Furman v) Virginia G. Gallon w) Sharon Marzola x) Robert Young 4. Regular Pensions to ba granted: 4. Approved. Richard G. Howard Robert D. Pease Stephen M. Brooks Allen O. Hicks Lucinda A. Hicks Carolyn M. Moore pfa 91)4198 1 S?l.. Fk. ', r, !, `, ';': 'i :,lr.., , t ,.!' .'S1 ••.s ' .. ?.1 . -. ? I 1 ° , r ' l?4. "' !. c.{;,` '3`' .'S.l ;•r i! ,'t. :-'?. E?r.,ti' L ;`la,°' ..gi'.??1s, z,? .six `.'y VV, r'+eY •dF ,e.' .', f^-y;.. }r. !fig: i.. ?,r, .f;. 'r , . :r[.•+.fd.• w7>F?..!-. n:.w.Go` w.xt,^atix4:.?•';-i,'.'-1',,>... .... ."?ti • .. r.?, :}. ?til: •.?:: ?' :'' -;f• , ,I •. ,'i ,1- [5,. 1. 'I 5. Pensions to,be vested: 5. ' Approved., , unde'r.Secs. 2.397 & 2.398 of current plan: ' William Held John Haffkass,• .' ' Gretchen Bush under Secs. 2.396 & 2.407 of old plan: John Amiro . Mooney { William i r .i:. 6. Approve administrative' 6. Approved. expenditure,budget far City'of Directed staff to proceed with. Clearwater Employees' Pension'' obtaining outside counsel for trustees' Plan & PAC.- 7. " Other Business:' 7. ' None. S. Adjournment:' .8. 2:08 p.m. f , I I ' 2 • j r . M r ti t S Meeting Date: Approved by Trustees CITY OF CLEARWATER EMPLOYEES' PENSION PLAN PENSION ADVISORY COMMITTEE TO: Pension Trustees FROM:, Pension Advisory Committee SUBJECT: Recommendation for Acceptance Into Pension Plan DATE: August 13, 1998 3 As Trustees 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 1674.6 out of 1707.9 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. N me b. la s Qe . Qiv. Hiram Date Date Dale Chappell, Firefighter/Fire 5126198 5126198 Gray Joyce, Firefighter/Fire 5126198 5126198 Jeffrey Palmer, Firefighter/Fire 5/26198 5126198 LaDrea Young, Police Info. Tech./Police 5111198 5111/98 Carol McAnally, Police Info. Tech./Police 5111198 5/11/98 Joseph Gabay, Sr. Accountant/Finance 618/98 618198 Robert Strieder, WW-I"P Oper. Trainee/Public Works 1218/97 618198 Linda Truehaft, Staff Asst. III/Legal 5111198 5111198 Linda Galloto, Police Service Tech./Police 216195 5111198 Mary Ann Stuart, Library Assistant/Library 115/98 6122/98 Robert Postell, Maintenance Worker I/Solid Waste 2/17198 618198 * Dexter Waters, Maintenance Worker I/Solid Waste 2117198 6/8/98 * Willie McGee, Maintenance Worker I/Solid Waste 6/15/98 6/22198 + Anthony Gammon, Custodial Worker/Parks & Re4. 11/10/97 6/7198 ++ Tyrone Floyd, Public Ser. Tech. I/Public Works 7/6198 716198 Terrance R. LaBelle, Public Ser. Tech. II/Pub. Works 1211186 7121198 + -I- + Brett Faulk, Police Recruit/Police 7120198 7120/98 Yvonne Becker, Library Assistant/Library 7/20198 7/20198 David Robertshaw, Police Recruit/Police 7120198 7120/98 Kyle Resler, Police Recruit /Police 7120/98 7120198 Robert Furman, Police Recruit /Police 7120198 7120198 Virginia G. Gallon, Police Recruit /Police 7/20198 7120/98 Sharon Marzola, Network Engineer/Info. Mgmt. 7120198 7/20198 Robert Young, Maint. Worker l/Parks & Rec. 7/20198 7/20/98 1, .III ' Y'• r r .u ' ' i 1 ,l . 1 c t u??f?.'y:'.•a3jstL :f' ,. ' - Y.?,, } .7'i,; ,, i, .•i; ,,,`; ,? 2?2. i.}:1 r.\. rq? `? ls- "Y `Y lfs': ' ..1 . I.V ` ..f•' A-i:.: _• - 1= .•t.f C Y .. 1 1t ..r.. .,',,, - i .' F i 1#' F' . : i'. .; `. , .. , :.l.d .n.t. .i•}w 'Y .• .,. [.Y .....Ywi. s. t,,.r•.lf .v,. 3."' , , ... , 5 f. ?' Page 2. August 13, 1998' ` originally employed as a temporary; made permanent and eligible for pension on 618/98 ' t *,*' originally employed. part-time on 216195; transferred to full-time on 5111198 * * * originally employed part-time on .115198; transferred to full-time on 6122198 3 'originally employed as a temporary; made permanent and eligible for pension on 6122198 +. + originally employed. as a temporary on 11110197; .made permanent and ' eligible for pension on 617/98. ' + +. + originally employed on 1211186 and denied for medical reasons; reexamined on 7121198 and approved for pension eligibility as hat d Pe lion Advisory Comm a Chain Miff, ? • i ` ? ? Trustees of the -? Employees' Pension Plan Final Agenda Item # Agenda Cover Memorandum Meeting Date, 9114198 SUBJECTIRECOMMENDAT)ON: Richard G. Howard, Police Department; Robert D. Pease, Police Department; Stephen M. Brooks, Police Department; Allen Q. Hicks, Public Works Department; Lucinda A. Hicks, Police Department; and Carolyn M. Moore, Library 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. © and that the appropriate officials be authorized to execute same. SUMMARY; Richard G. Howard, Police Officer, Police Department, was employed by the City on April 17, 1972, and his pension service credit is effective that date. His pension will be effective on August 1, 1998. Based on an average salary of approximately $49,580 per year over the past five years, the formula for computing regular pensions, and Mr. Howard's selection of the Joint and Survivor Annuity, this pension will approximate $35,795 annually. Robert D. Pease, Police Officer, Police Department, was employed by the City on June 12, 1978, and his pension service credit is effective that date. His pension will be effective on August 1, 1998. Based on an average salary of approximately $41,115 per year over the past five years, the formula for computing regular pensions, and Mr. Pease's selection of the 100% Joint and Survivor Annuity, this pension will approximate $22,380 annually. Stephen M. Brooks, Police Officer, Police Department, was employed by the City on April 19, 1967, and his pension service credit is effective that date. His pension will be effective on August 1, 1998. Based on an average salary of approximately $51,858 per year over the past five years, the formula for computing regular pensions, and Mr. Brooks' selection of the 100% Joint and Survivor Annuity, this pension will approximate $37,236 annually. Reviewed by: Originating Department: Costs: Commission Action: Legal NA HU N SOURCES '? ©Approved Budget NA Z Total ? Approved w/Conditione Purchasing NA Uaer apar ent: ? Denied Risk Mgmt. NA Current Fiscal Year ? Continued to: Is NA Funding Source: ACM ? Capital limprovsnicest: _ Other NA Advertised: ? operating: Date: ? Attachments: other: Pension Paper: Submitted by: ? Not Required Appropriation Code Affected Parties: 646-07410-514100-585-000 ? Notified ? None City Manager ? Not Required Printed on recycled paper L14 Regular Pensions Page 2 September 14, 1998 Allen O. Hicks, Wastewater Collection Superintendent, Public Works Department, was employed by the City on April 19, 1967, and his pension service credit is effective that date. His pension will be effective on August 1, 1998. , Based on an average salary of approximately $50,556 per year over the past five years, the formula for computing regular pensions, and Mr. Hicks' selection of the life Annuity; this pension will approximate $46,762 annually. Lucinda A. Hicks, Staff Assistant III, Police. Department, was employed by the City on April 26, 1967, and her pension service credit is effective that date. Her pension will be effective on August 1, 1998. Based on an average salary of approximately $31,304 per year over the past five years, the formula for computing regular pensions, and Ms. Hicks' selection of the life Annuity, this pension will approximate $28,414 annually. Carolyn M. Moore, Library Division Manager, Library Department, was employed by the City on March 26, 1973, and her pension service credit is effective November, 30, 1973. Her pension.will be effective on September 1, 1999. Based on an average salary of approximately $57,003 per year over the past five years, the formula for computing regular pensions, and Ms. Moore's selection of the 100% Joint and Survivor Annuity, this pension will approximate $37,672 annually. These pensions were approved by the Pension Advisory Committee on August 13, 1998. 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 Police Officer as meeting the hazardous duty criteria. Mr. Howard, Mr. Pease, and Mr. Brooks qualify under the hazardous duty criteria. Section 2.393 (p) also provides for normal retirement eligibility when a participant has reached age 55 and completed twenty years of credited service or has completed 30 years of credited service. Mr. Hicks and Mrs. Hicks qualify under the 30 years of service criteria. Ms. Moore qualifies under the age 55 and 20 years of service criteria. I • Trustees of the wat+a?i°ta"f?t,=r: ?-----?-- Employees' Pension Plan Final Agenda Item a Agenda Cover Memorandum Meeting Date: .. 919 4198 SUBJECT/RECOMMENDATION: William Held, Marine Department, John Haffkoss, Gas Department, and Gretchen Bush, Library Department, be allowed to vest their pensions under Section(s) 2.397 and 2.398 of the current Employees' Pension Plan as approved by the Pension Advisory Committee. John Amiro, Engineering Department, and William Mooney, Engineering Department, be allowed to vest their pensions under Section(s) 2.396 and2.407 of the old Employees' Pension Plan as approved by the Pension Advisory Committee. © and that the appropriate officials be authorized to execute same. SUMMARY: William C. Held, Jr., Harbormaster, Marine Department, was employed by the City on November 9, 1981, and his pension service credit is effective on that date. His pension will be effective on December 1, 2001. John Haffkoss, Gas Specialist, Gas Department, was employed by the City on December 19, 1983, and his pension service credit is effective on that date. His pension will be effective on January 1, 2004. Gretchen 'A, Bush, Library Assistant, Library Department, was employed by the City on November 21, 1977, and her pension service credit is effective on that date. Her pension will be effective on September 1, 2002. John Arnim, Signal Systems Engineer, Engineering Department, was employed by the City on March 28, 1977, and his pension service credit is effective on that date. His pension will be effective on March 29, 2007. William Mooney, Laboratory Technician, Engineering Department, was employed by the City an December 10, 1979, and his pension service credit is effective on that date, His pension will be effective on December 11, 1999. Reviewed by: Originating Department: Costs: Commission Action: Lapel NA H11111g ?!!OURCES S ? Approved Budget NA ?// ?? Total ? Approved wlcondidons purchasing NA User Department: ? Denied Risk Mgmt. NA Current Fiscal Year ? Continued to: is NA Funding Source: ACM ? Caphat tmprovemant: other NA Advertised: ? operagng: Date: ? Attachments: oniat.. Pension r ;l Paper: Submitted by: ? Not Required Appropriation Code Affected Parties: 646.07410-514100-585-000 ? Notified ? None city manager ? Not Required Printed an recycled paper M Vd 2:??r'?F.'r' 35, t•'t< ,r Sal 3' ?5. ., .. .• .•','. 1r., ;:??;5`{{?'i or e'.,. .. :). :E ,: :. .S: 'i ?. t, 'rte ll? , ?5•It s. Yr ;jO', it .tit?-' ?.. i.l` ? .1= ?'•' .. 1.: , F'.'.,,°-??i;1'. -fFr?k:S:$.f?"3::,, r.,, .•!+r<xa';,??x.+iLrt?', s's.:, .. .. .. ,.lr - < r 3, Vested Pensions . Page 2 September 14".1998 Both the previous and current Employees' Pension Plans provide that should an employee cease to: be''an.employee of the City of Clearwater after completing ten or more years'of creditable service' . ' (pension participation), then, such employee shall acquire a vested interest in the. retirement' benefits. Under the current plan', vested pension payments commence on the first of the month following the month, in which the employee normally would have been eligible for retirement. Under the old plan, pensions were dffectivEi the day following the date the employee would have been first eligible to retire. Mr. Held would have completed at least twenty years of service and reached age 55 on November 2001. Mr. Haffkoss would have completed at least twenty years of service and reached age 55 on December 19, 2003. Ms. Bush would have completed at least twenty years of service and reached age 55 on August 8, 2002. Mr. Amiro would have completed at least thirty years of service on March 28, 2007: Mr. Mooney would have completed at least twenty years of -service and, f: reached age 55 on December 10, 1999.' These requests to vest pensions were approved by'the Pension Advisory. Committee on August-13, 1998. a' f Trustee Agenda Cover. Memorandum Final Agenda Item # Meeting Date: SUBJECT/RECOMMENDATION: Approve the recommended administrative expenditure budget for the City of Clearwater Employees' Pension Plan. ? and that the appropriate officials be authorized to execute same. SUMMARY: • The Employee's Pension Plan has assets (investments) totaling $395 million (market value) as of 6130/98. This Is an increase of $60 million over last years number. For the year ending 6130198 the plan had a rate of return of 18.40%. • Attached is the proposed budget for fiscal year 1998 - 1999 including historical numbers. Money Manager, Safekeeping Service, Pension Administrator and Actuary fees are all set by contracts approved by the trustees and are not included in this administrative budget. • Travel and training is for members of the Pension Investment Committee to attend the Callan training seminar, visit Callan, the pension plan's performance measurement firm, and a due diligence visit to one of the money managers. • Printing and Binding is for the statutorily required annual information distribution to the members of the pension plan. • Medical Bills is for the medical services that the Pension Advisory Committee authorizes. • Reimbursement to the General Fund is for the cost of oversight of the plan and cost of issuing pension checks. New for this year is an amount to cover administrative oversight costs incurred by Human Resources and Legal. Reviewed by: Legal NIA Info Srvc N/A Budget . >-W Public Works N/A Purchasing DCM/ACM Risk Mgmt N/A Other Submitted by., City Manager Originating Dept: Finance User Dept. Finance Attachments Expenditure Worksheet 13 None Costs Total $37,250 Funding Source: Current FY U Cl OP Other Earn ation Code, Pau- 9140 printed nn reeveled saner ;•:t?;.p"s ;• 3f.,..;t t't? ?? ? i ' `5 '• ' '!' ??.`.. ., .Ya.'?: ,e T, r ' rt1 ?. l b , . F '. . . ," •r Q? O d O D D 4 O p 4 C) LO o a v ca Cat? C37 rn c O N O O O C7 C"7 O' N N cD? O O O co ti UJ 0 C) C) 0 CD C) 0 - W) .=. 0 0 U ) co #- W o C% st U7 r- cv o N a, U) W to 'd' Y N c+1 Wl C7 O v N J CO CA Cn O O E LO Ltd ? = . C{i m O r Y oCf , GLL O OO a LO O U7) Q U') j U) ? O vert N r i? u7 N L " O ?- Y r N H m z c p ; . a.Z J v o a v o 0 o a U d ? U') Q 114* "Cr c? r5 0) a CF) ? Y N N oW ? 0 ? . UO W J c? v cc N v o LO v in m j co rn M a to C a o L U . c c Y c6 :. a r ? C L3 U- z O m (D rn N C U p„ m U m to Q c col CL .< E ro W ? 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