08/31/1979
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POLICE
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SUPPLEMENTARY
PENSION
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Minutes
DATE
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AGENDA
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Clearwater Police' Supplementary Pension Fund
MEETING: Friday, August 31, 1979 at 10:30 A.M.
Police Department Conference Room.
Item One
Approval of minutes of meeting held June 8, 1979
Item Two'
Reinvestment of funds from maturing C.D.ls
Item Three
I'.
Correspondence from Provident Insurance Company
'fihalizing Major Wicheln~' retirement benefits
under Supplementary Pension '
, I tern Four
Ratification of p~rchase Certificates of Deposit
c:.' - \
a. Pranklin Federal S&L
b. Florida Federal S&L
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CLEARWATER POLICE SUPPLEMENTARY PENSION FUND ,MINUTES OF MEETING
HELD AUGUST 31, 1979
A meeting of the Board of Trustees was held on August 31,
1979 in the Conference ,Room of the Police Department, 644 Pierce
Street, Clearw~ter, Florida. '
The following Trustees were present:
CHARLES F. LeCHER, Chairman
FRANK DANIELS, Secretary
DONALD HIBBARD
WILLIAM SEDRICK
RAY KAMINSKAS
. I
Also present were Rick Griesinger, Assistant City Attorney, and
Betty Ward, Chief Daniels' secretary.
Mayor LeCher,' Chairman, called the meeting to order at 10:45 A.M.
and called ,for approval of the minutes of meeting, held June 8, 1979.
Officer Sedrick made a motion that the minutes be approved. Motion
seconded ,by Donald Hibbard. Motion carried unanimously.
First item on agenda was the reinvestment of funds from maturing
CD's~ Detective Karninskas recommended purchasing two additional
CD's each in amount of $40,000.00, and renewing the CD at First
Federal, Clearwater, and reducing the $40,000 CD at Guaranty
Federal to $20,000.00. Mayor LeCher recommended the Board follow
this course of action. Det.Kaminskas made his recommendation in
the form of a motion. Motion seconded by Donald Hibbard. Motion
carried unanimously.
Second item on agenda was correspondence from Provident Insurance
with regard to Major E.H. Wichelns' benefits. Chief Daniels advised
that figures from Provident indicated that Major Wichelns would
have various options ranging from $342.05 to $325.51 per month, or
lump sum settlement of $46,450.60. Chief recommended that the
figures be forwarded to Marvin Clayton of the State Treasurer's
office for review. Mr. Griesinger to forward the computations
to Mr. Cl'ayton.
Third item on agenda was the ratification of CD purchases. Mrs.,
Ward reported that a money market CD at Franklin Federal for
$20,000 was renewed at interest rate of 9.047%. Also, a money
market CD was renewed at Florida Federal Savings & Loan in amount
of $40,000 at interest rate of 9.047%. Both transactions were
made on June 15, 1979.
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PAGE TWO
MINUTES of' MEETING August 31, 197,9
:.'
Clearwater Police Supplementary P~nsion
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Chief Daniels submitted an invoice from Bank of Clearwater
in amount of,$lO.OO for annual rental for safe deposit'box.
DonaldUibbard made amotion that the invoice be paid.
Motion seconded by Ray Kaminskas.Motion carried unanimously.
Chief Daniels advised that a Pension Trustees conference
,'sponsored by State Treasurerts Office would 'be held in
Orlando on September 13th and asked Officer Sedrick if he
would represent Clearwater at this meeting.
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further business, meeting was adjourned
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