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POLICE
SUPPLEM[ENTARY
NSION
Minutes
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4f.: Clearwater: Police Supplementary Pension 'Fund
r AGEIMA
January 10, 1975
roval -of Invoice from Provident
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Insurance ' Company , for premiums for riew
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benefits
and increased
participants
Amount of Invoice.
$13, 274.79
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Clearwater Police Supplementary Pension Fund
MINUTES OF, MEETING HELD JANUARY 10, 1975
IN CONFERENCE ROOM, POLICE DEPARTMENT
Meeting was called to order by the Chairman,
1:30 P.M. Those present were Frank Daniels,
Kennedy, Jr., Assistant City Attorney, Donald
Roberts and Bernard Enlow.
H. Everett Hougen at
Secretary, Guy
Hibbard, Jerry
The minutes of the meeting held November 18, 1974 were distributed
and Donald Hibbard made a motion that the minutes be approved. The
motion was seconded by Captain Enlow. Motion carried unanimously.
Chief Daniels submitted for payment an invoice from Provident Insurance
Company in the amount of $13,274.79. He noted that a $5,000.00 bander
had previously been paid to Provident leaving a balance due of
$8,274.79. This amount'covers the new participants who became eligible
as of September 17, 1974. Mr. Hibbard made a-motion that the invoice
be approved for payment. Chief Daniels advised that the billing
included all new participants with the exception of Officers Jarrell
Britts and Michael Stuart, and as soon as their physicals are completed
we will receive a second billing. Mr. Hibbard amended his motion to
include the approval of the billing for these two officers. Motion
seconded by Officer Roberts. Motion carried unanimously.
s
Mr. Kennedy advised that he had prepared an ordinance amending'the
benefit formula from 1.3% to 1.1% of monthly salary not to exceed a
maximum of thirty five years, effective September 17, 1974 and advised
that the ordinance will be presented to the City Commission for the
first reading on January 20, 1975. Mayor Hougen suggested that Mr.
Kennedy send a memorandum to the City Commission and attach a copy of
the proposed ordinance so that they might have time to read it prior
to the City Commission meeting.
Mr. Kennedy asked the Secretary to request from Provident Insurance
Company written documentation providing that any excess life insurance
over the limit should be paid to the Supplementary Pension Trust Fund
in accordance with the regulations of the Florida State Statutes.
Officer Roberts made a motion that proposed ordinance 1552 amending
the present benefit formula and applying a maximum of 35 years of
credited service be referred to the city commission with the request
that it be officially adopted by the City Commission at the earliest
date. Motion seconded by Captain Enlow.
Officer Roberts made a motion that the secretary be authorized to order
an audit of the Supplementary Pension for the 1974 calendar year. There
being no further business, the meeting adjourned at 2:15 P.M.
espect?lly submitted,
FRANK ]DANIELS, Secretary