02/06/1969
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P.OLICE
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SUPPLEMENTARY
PENSION
'Minutes
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DATE
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AGENDA
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. BOARD OF. TRUSTEES
CLEARWATER POLICE SUPPLEMENTARY PENSION FUND
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Meeting to be held in Office of Police Chief Frank
Daniels on Thursday, February 6" 1969 at 2: 00 P.M.'
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Item No'.' 1
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consideration of. request from Chief Willis D. Booth
for pension benefits.
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Item No. 2
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consideration of request from Vincent Schineller for
. pension benefits.
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It~m No. 3
consideration of request from E. Lester Marston for
pension benefits.
LS, Secretary
clearwater Police Supplementary
,Pension Fund.
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MINUTES of Clearwater Police Supplementary
Pension Fund Meeting held February 6, 1969
in Office of Police Chief Frank Daniels.
Meeting was called to order at 2:00
Everett Hougen. Those present were
Blaine LeCouris and Joseph Molnar.
illness.
P.M. by the Chairman, Mayor H.
Guy Kennedy, Frank Daniels,
Jack Martens was absent due to
The Chairman called for discussion of Item Number One on the agenda,
consideration of a request from retired Police Chief willis D. Booth
for pension benefits. Guy Kennedy read letters from Harry Boggs,
Office of the Insurance "commissioner, Tallahassee, and pan Owenby',
Pension Division, Provident Life and Accident Insurance Co.,Chattanooga.
with respect to a deferred annuity for Willis Booth. Frank Daniels,
Secretary, was instructed to write a letter to Mr. Owenby to ascertain
the cost to the Board of Trustees to purchase a single premium deferred
life annuity, and to break this figure down to show the cash surrender
valu,e of chief. Booth's life insurance policies and the amount remaining
to be paid by the Board of Trustees. Also to set forth the procedure
whereby Chief Booth could continue 'his life insurance on a personal
basis should he so desire. Also, in the event of death prior to his
reaching age 65, what could his beneficiary expect to receive.
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The Chairman called for discussion of Item Number Two on the agenda, a
request from retired Sgt. Vincent Schineller for pension benefits. The
Secretary was instructed to write a letter to Mr. Owenby to give us
a breakdown on the cash surrender value of Sgt. Schineller's life
insurance and the amount remaining to be paid by the Trustees. Also,
the procedure whereby Sgt. Schineller could continue his life insurance on
a personal basis should he so desire, and also the exact monthly annuity
Sg~ Schineller would receive if he chose the life annuity five years
certain, or the life annuity ten years certain. Also, in the event of
death prior to receiving all of the payments, what can the annuitant's
beneficiary expect to receive.
The chai.rman called for discussion of Item Number Three, a request from
retired Sergeant E. Lester Marston for pension benefits. Chief Daniels
read letters from S.T. Register, M.D., William E. Kilgore, M.D., and
Douglas W. Carr, M.D. Officer Molnar made a motion that the Board
concur with the medical findings that Sgt. Marston is totally and
permanently disabled and wholly prevented from useful and efficient
service as a Police Officer of the city of Clearwater, and as such
entitled to receive certain monthly disability benefits, the amount
to be det~rmined by competent actuarial and insurance authorities.
Motion seconded by Major Lecouris apd carried unanimously.. The
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Paqe two
II,
Police Supplementary Pension Fund
Meeting' February 6, 1969.
Secretary was instructed to write a letter to Don OWenby to set forth
the options Sgt.' Marston has insofar as life annuities. Also,to set
forth the exact monthly annuity Sgt. Marston would recJive if he chose
tbe life annuity five years certain and also if he chose the life
annuity ten years certain. Also, in the event of death prior to '
receiving all of the payments, what can the annuitant1s beneficiary
expect to ,receive. And to give the Board a breakdown on the cash
surrender value of Sgt., Marston's life insurance and the amount remain-
ing to"be paid by the T~ustees"
The above requests made by Willis D. Booth, Vincent Schineller, and E.
Lester Marston were held in abeyance until further word ,is received from
Mr." OWenby. '
chief Daniels reported that a check in the amount of $180.00 had been
drawn to Mrs. ,Betty Ward for secretarial and bookkeeping services through
'--"'Decenfuer 31, 1968.
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Chief Daniels read a letter dated November 27, 1968 from the American
National Bank, 1475 Sunset Point Road, covering the purchase of United
States Treasury Notes. Mr. Jack Martens, President of American National
Bank handled the transaction, with Mr. R. E. Prentice, vi~e President, ),
American National Bank making the purchase for the Trustees. The total
transaction came to $106,098.37. The Securities were purchased from the
Citizens and Southern National Bank, Bond Department, Atlanta, Georgia.
The Bank will hold the Securities, clip the coupons and credit the
Trustees with the proceeds semi-annually and be responsible for the entire
transaction.
There being no further business, the meeting was adjourned at 3:05 P.M.
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Respectfully submi tte'd,
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,L.~'rAANI< DAN~l;, Secretary
Clearwater Police Supplementary Pension Fund.
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