Loading...
10/05/1988 Proceedings of the Pension Advisory Committee Meeling of October S, 1988 Page I G >,~~,y Presen l: Thomas Pudelski, Member Glenn Perry, Member / H. Michael Laursen. Personnel Direclor Deborah Lally, Personnel Department Cynthia eHman, Personnel Dcpanment Nancy Degner, Industrial Nurse D. R. Perkins, Payroll, Services Manager The meeting was caUed to order at 9:30 A.M. ",: Tom Pudelski moved to approve the minutes of the meeting of September 21, 1988. The motion was duly seconded by Glenn Perry and carried unanimously. A queslion was raised by Secretary Laursen as to the effective date of Dennis Babini's pension. Officer Babini's job-connected disability pension has been approved by the Committee and the Pension Trustees. However, Officer Babini is still actively employed. Under the rules of the Pension Plan and the Civil Service Rules and Regulations. an employee cannot receive a pension and at the same time continue lo work in any capacity with the City of Clearwater. ',~,';"O' , , Due to the' special circumstances surrounding this matter, Tom Pudclski will speak with Officer Babini and advise him he needs to resign. Cindy Climan advised Mr. Pudelski that if Officer Babini wants to extend his retirement date by the use of his benefits (sick leave. vacalion, etc.). he should contact her so she can do a computation. , " ' ~:~ . ~,::' . , " .. J Another question was raised by Secretary Laursen as to the amount of interest Charles Kettell must. pay 011 the monies he is returning to the Pension Plan. Discussion ensued, regarding the different rates that could be used. It was brought to the Committee's attcntion that at a previous meeting they had agreed to use the amount of interest paid on. treasury bonds as done in the past. However, the current interest rate in Florida is 12 percent. The other rate that could be used is the amount of interest the monies would have earned had they been invested if they had remained in the fund. Tom Pudelski moved that Charles Kettell pay the City 12 percent interest on these monies. Glenn Perry seconded the motion. Discussion ensued. The motion was amended to include that in the future, the interest rate to be charged on the return of pension monies will be the legal interest' rate in the State of Florida at the time. The motion as amended was seconded by Glenn. Perry and carried unanimously. '.... "t> '~. .:'. "I': < r ~'I " .' ~:. . .::::':', ".' ..; ~ . Ii" .' ,~.Il ;:". ~J~:'.:~:." . (:~~ " i: . .. ..., ::.:.' .. ~... . .' Tom Pudelski moved the meeting be adjourned. The motion was duly seconded by Glenn Perry and carried unanimously. The meeting adjourned at 9:42 A.M. Respectfully 'Isubmitted, ,~~ H. Michael Laursen Personnel Direclor an Secre,tary. Pension Advisory '\ v-- --J Committee ;'