05-13-2002AGENDA
PENSION
TRUSTEES
05/13/02
ACTION AGENDA
TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
Monday - May 13, 2002
The Chair called the meeting to order at 1:16 p.m. at City Hall.
ITEM #2 - Approval of Minutes: 04/29/02
ACTION: Approved as submitted.
ITEM #3 - Request for acceptance into membership:
ACTION: Accepted.
ITEM #4 - Approve expenditure in the amount of $9,500 to AON Consulting Inc. for pension
consulting services
ACTION: Approved.
ITEM #5 - Other Business:
ACTION: A special Pension Trustees meeting was scheduled for 9:00 a.m. on July 19,
2002, to discuss pension changes.
ITEM #6 - Adiourn - 1:21 p.m.
mpf05bO2.act 1 5/13/02
Meeting Date: ,1,3
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: April 11, 2002
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
1710.15 of 1834.7 budgeted positions (including the City Commission).
These employees are eligible for pension membership as noted in the Pension Eligibility Date column
below, and it is the recommendation of the Pension Advisory Committee that they be accepted into
membership.
Pension Elig.
Name, Job. Class, & Dept./Div. Hire Date Date
Peggy Franco, Staff Assistant/Planning & Development Services 2/25/02 2/25/02
Michael Kennedy, Public Utilities Technician I/Public Utilities 2/25/02 2/25/02
Nathan Bergstrom, CAD Technician/Engineering 314/02 3/4/02
Scott Boltz, Communications Technician/General Support Services 3/11/02 3/11/02
Carlos Bonilla, Parks Service Technician I/Parks & Recreation 3/11/02 3/11/02
Jennifer Shaw, Library Assistant/Library 1/14/02 3/9/02
James Hardin, Recreation Leader/Parks & Recreation 5/4/92 3/9/02 "
Joseph Mack, Custodial Worker/Library 12/14/92 3/11/02
Joseph Taylor, Parks Service Technician I/Parks & Recreation 3/11/02 3/11/02
Calvin Peterson, Field Service Representative/Customer Service 3/11/02 3/11/02
Michele Bergeron, Police Service Technician/Police 3/25/02 3825/02
Melvin Maciolek, Construction Inspector I/Public Services 3125/02 3/25/02
Kevin Richendollar, Parks Service Technician I/Parks & Recreation 3/25/02 3/25/02
originally hired as part-time; changed to full-time and pension eligible as of 3/9/02
originally hired as part-time; changed to full-time and pension eligible as of 3/9/02
` originally hired as part-time: changed to full-time and pension eligible as of 3/11/02
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Employee Pension Plan Trustee
Agenda Cover Memorandum
Work Session Item ft:
Final Agenda Item H
Meeting Date:
SUBJECT/RECOMMENDATION:
Approve expenditure in the amount of $9,500 to AON Consulting Inc. for pension consulting services;
E and that the appropriate officials be authorized to execute same.
SUMMARY:
On August 13, 2001 the Trustees approved the FY01-02 Pension Plan budget to include $30, 000 for pension
actuary an consulting services (e.g., comparative pension analysis update, DROP modeling/assessment) related
to potential changes to the Pension Plan.
On March 18, 2002, the Trustees approved an expenditure of $30,000 to PriceWaterhouse, LLP for pension
actuary and consulting services related to potential changes to the pension Plan. The $30,000 expenditure to
PriceWaterhouse, LLP covers all the pension actuary and consulting services related to the potential changes to
the Pension Plan except for the comparative pension analysis update. It will cost $9,500 to conduct a current
comparative pension analysis.
• In 1999, AON Consulting completed a comprehensive survey for the City of Clearwater that compared the
relative net value of current and proposed (e.g., 1.5% COLA) hazardous duty and non-hazardous pension
benefits to those provided by selected government agencies in North/Central Florida and the Tampa Bay area.
The survey results indicated that City of Clearwater's hazardous duty employees were ranked in the 1st
quartile or 3rd (lire) and 4`I` ('Ot1Ce) respectively, out of the 19 surveyed agencies. By comparison, the City of
Clearwater's non-hazardous employees were ranked in the 3' quartile or 6`h out of the 10 surveyed agencies.
City staff is in the process of reviewing and commencing collectively bargaining negotiations with the City's
five employee organizations over the proposed changes to the Pension Plan. We intend to bring forward the
proposed changes to the Pension Plan to the PAC and Trustees in June and July 2002. As part of the staff
analysis of the proposed changes, AON Consulting will conduct an updated comparative analysis of the
relative net value of the current and proposed hazardous duty and non-hazardous pension benefits to those
provided by selected government agencies in North/Central Florida and the Tampa Bay area.
Reviewed by: Originating Dept: Costs
Legal q y Info Srvc N/A Human Resources/ Total $9,500
Paul O'Rourke
Budget r 1? Public Works N/A User Dept. Funding Source:
Purchasin DCM/ACM Human Resources Current FY $9,500 CI
Risk Mgmt N/A Finance LIr
JIL
Attachments
OP
Other Pension
Submitted b
U O None
r
City Manager
Appropriation Code: 646-07410-Sxxx00-5135-000
Printed on recycled paper
Rev. 2/90