06/08/1979
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POLICE
SUPPLEMENTARY
PENSION
Minutes
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DATE
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. CLEARWATER POLICE SUPPLEMENTARY PENSION FUND
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AGENDA
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MEETING: '
Friday, June 8, 1979'
10:30 A.M.
Police Conference Room
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1. Approval of Minutes of meeting held April 20, 1979.
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2. Request from Major E.H. Wichelns for retirernent,benefits.
3. Request from Sergeant James C. Shaffer for retirement benefits.
4., Authorization to finalize pension benefits for George Howell.
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5.' , Final approval for Russell Riendeau cash settlement of contract.
o. Ratification of purchase of Money Market CDls at Clearwater
Federal S&L and First Federal S&L of Largo.
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Maturity dates for Certificates of Deposit:
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a. Florida Federal S&L
$40,000.00 Money Market CD
Maturing: June l5; 1979
Interest: 9.513%
(simple interest)
b. Franklin Federal S&L
$20,000.00 Money ~1arket CD
~aturing June 15, 1979
Simple Interest: 9.51%
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, CLEARWATER POLICE SUPPLEMENTARY PENSION FUND
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MINUTES OF MEETING HELD ~t!~Er'~ L} ~.7_~_.
A meeting of the Board of Trustees was held on
June 8, 1979 in the Conference Room of the Police
Department, 644 pierce Street, Clearwater, Florida.
The following Trustees were present:
CHARLES F. LeCHER, Chairman
FRANK DANIELS, Secretary
WILLIAM'SEDRICK
RAY KAMINSKAS
Also present were Rick Griesinger, Assistant City Attorney,
,and Betty t~ard, Chief Daniels I ' secretary. Trustee Donald
Hibbard was absent.
Hayor LeCher, Chairman, I.::alled the meeting to order at
10:30 A.M. and called for approval of the minutes of the
meeting held April 20, 1979. Ray Kaminskas made a motion
that the minutes be approved. Motion seconded by William
Sedrick. Motion carried unanimously. Since Mr. Griesinger
had to leave early for another meeting, the Board moved to
item number four on the agenda~ which. was authorization to
finalize pension benefits for retired officer George Howell.
Chief Daniels 'advised that Officer Howell had chosen the
lump sum settlement, and Rick Griesinger advised the board
that his office had drawn up an "Acknowledgement of Lump
Sum Settlement" form to be signed by George Howell. Officer
Sedrick made a motion that the paperwork be finalized for
Howell's lump sum. Motion seconded by Ray Raminskas. Motion
carried. Mrs. Ward asked if there could be a clarification
to Officer Sedrick~s motion, to include that the secretary
be authorized to make the necessary transfer of monies
from the savings to checking account, as the board must
add the additional amount of $19,047.11 to the cash
surrender value to be received from Provident, which is
$9,570.02, in order to issue the lump sum in the amount of
$28,617.13 Lv Officer Howell. William Sedrick clarified
his motion to include the amount of funds involved in this
transaction. Motion seconded by Ray Kaminskas.
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The next item to be considered was number 5 which was final
approval for Russell Riendeau cash settlement of contract.
Chief Daniels presented a letter from Provident dated May 3,
1979 stating that the withdrawal value of Riendeau's
supplementary contract is $9,981.28 and that Mr. Riendeau had
completed the necessary paperwork to cash in his contract, and
Chief recommended that this item be approved. Mr. Griesinger
advised that his office had drawn up an Acknowledgement of
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MINUTES OF MEETING HELD JUNE B, 1979.
PAGE TWO
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Lump Sum Settlement" form to be signed by Russell Riendeau.
Ray Kaminskas made a motion that this item be approved.
Motion seconded by William Sedrick. Motion carried
unanimously.
Rick Griesinger left the meeting at 10:45 A.M.
The Board went back to agenda item number two which was a
request from Major Ernest H. Wichelns for retirement benefits.
Chief presented a letter from Major Wichelns requesting
retirement, the exact date to be determined by the Personnel
Department. Chief Daniels recommended that this request be
approved. William Sedrick made a motion that the request'
from Major Wichelns be approved. Motion seconded by Ray
Kaminskas. Motion carried unanimously.
Item number three was a request from Sgt. James C. Shaffer
for retirement benefits. Chief Daniels presented letter of
request from Sergeant Shaffer and recommended that this
. request be approved. The official date of retirement to
'be figured by the Personnel Department. Ray Kaminskas made
a motion that this request be approved. Motion seconded by
William Sedrick. Motion carried unanimously.
I.tem number six was the ratification of money market purchases
by Mrs. Ward. Mrs. Ward advised that on April 26, 1979 she
purchased a Money Market CD at Clearwater Federal in 'the
amount of $40,000.00 with interest rate of 9.295 simple
interest, and on May 1, 1979 she purchased a Money Market CD
in the amount of $40,000.00 at Clearwater Federal with
interest at 9.295 simple interest. William Sedrick made a
motion ,that the purchases be ratified. Motion seconded by
Ray Kaminskas. Motion carried unanimously.
Item number seven was the maturity of certain Certificates of
Deposit. Mrs. Ward advised that the CD's at Florida
Federal in amount of $40,000.00 and Franklin Federal in
amount of $20,000.00 both mature June 15, 1979. Ray Kaminskas
made a motion that the proceeds from the CD's be reinvested
in money market CD's at the best interest rate possible on
date of maturity. Motion seconded by William Sedrick. Motion
carried unanimously.
,Meeting adjourned at 11:15 A.M.
Respectfully submitted.
FRANK DANIELS, Secretary
Board of Trustees
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