07/13/1981
" '"
':';.""'1.,<'
~:i(.;'?~;:.'
'l',': j'
~,I~., ',': j<
" I, I C ~
F.~,',;"
" .'. '\ ':', I . . . '?
>!' . \', ' >, "..' " ~ '.\ ~'J .
, .,'.' ~ .", " I."" , :',
I~ : ,1<, ,".r .:' \1 ",.,.
",:;".,:.:., >
" ".'
. . ~ ' 1
., "
~', I...
: t:r~;wrw~~~~',";,~";y.''",(.{~'''''''''~/':''l':'~>'~' ;:~~{ ~r'i\l~' ':;' ::::;,>,:'}:fi:(r~y.r~"~~:~,~><! ;':::';, "'~\}!)';~"; :}~,'
r:~\~I'~t:';:,;;,\,';~~".;:!~<';:':,F',,~';:E!' }.,ii .... · ,.' .'
t,., , ,',' .. '. '.
i,.~ 'i,.:... I'.. M , .
t~ .~. '_ : ' ~': i.".. ~
.~ ~:':;: -
~F~', ~~~.; . ':;~.,:,~
i'~ ,. .;..', T
r', ,: .. .':" '
'~, r"~ J .
; I.: ~~,.~'.:.
-"; ~.: '.
L~ r ';. '.:
. '.:" I . ~, .
, ',' ", ':'''',: ;'~'~'\"f";,';';~?'i'?~'\l~'r;jn~~
r - ,~., ': ~.{
',>
" ';"
"
",,'
:, . .
.; I
,,'
'.'
, . ~
,I
'-:":'/
!:. ;.
..
, ,-' \ ~
"" '
'-'1 ."
1'"
I"
... .
\.:
. '.... i .
~ j
A
I'
"j
i :,
'>+.'
, 'u'
'I
','
,':;l~' , , > ~
.: ;: l~l~"
: 1'" . " ,~
.'
~, '-,' ~ ~ :". < .. ~
',: :'.".', , t. "
,. , ' ..,', 1.1, . \ ....: /
. , ' . , '~.,' '.
~~"'~~r'~~~,,~p1~/~l.\"""rr!,^~:....,_<~...._~'"'t.;_~'~olIrh"~':'~'~ -lt~"";~~'~"''''''M '~r-lpl"'~rl'~.,.,i",.~...t','1-' ';rlt;'I'";;~:'O+~, '," ''1''1-", ~:, ~'"Io..~''' ~:':~"h:."~ .i'
. ~ j.
>~: ':';" y.
",
, ~ " ~ ~ : ; -.
~ ~.
Ii'
t VI
" ,
, .'
.,
'),'
. .<"v,....: ......,+.lJ;..,..~.~
I'
,~"
, ,
,
I
'. . ~'.
"
, ~ ~
,"
. ~.
\<
1\
'"
.,1
",
POLI'CE
I,'.'
"
SUPPLEMENTARY
PENSION
.. .:
Minutes
,'I
,'. '
,:'
Ii
i
"
. :."
'< }~
!'{
DATE
,\
."
'. '
l~>:"l' ~'
o
~Z7
"1
'\
'J .
;'
c'.I;
j;:;S~i;~?:;}{:tE:',;;{"J'N1::t~':~~!:('1":';:':0PSi'~!!V'" ,,!' "i:'.y~r'i ", ,,' ,"," .,':' ' ":i . "",.'" ',". ,..:' "", "",,"',
~\: ..J "{. .
':' ",', , ;:'~:' .:.:': ';', ,:~',,',~,:?:Jii~;U\:!.;~;~\
" ,
"
(\':!., 1 '.
c-:":
.' '
,
"
~!" ~~. .,:
;~. . ,'" ,I.', ,,!
"
"
" ~ c : , '
I " .:'.
'. '.
:.} "
, , ,
. i - .;:'~
. . J. . .+ 0 '.~' ~
,,'
c'..
.J. .'. .'. ..
.. '"
. ,~ "
.<.; "/.
'. \,
.':1-: I .
0,,". 0 .' ,'. 0 '. . I . I \
, ....'~~;..1;JW""ff'\.1f.r""j-...li"'.~;. ,'0 . ~ l .
~. ":; / . ~..3..}ll.~ ~i'J.~ :...."~t4.....!.,"~..i~""'.~4y"';:''"',,... ,t.~.t+..~ ~:-jo'1.f":1'...,,;/o....\~.I~\~.1~f ,:,d,i.Y\~
. ,
'c\'
;'
o . ~,
,"
, ,'.1
",:1
. . ,.' ~.
.i.". .
. ",c
. l~ . ::, J,"~. ~ O~. ." .
-:,.,'j' .~,..~'..~:~.,''-;! \~: ~.' ~~., 'v
"',~",o- L;' 0
.0.0 :. ':.'."~H...."':<~~;~y~:>q_:~"';f..(.~:,:~r(
. . ~ ~
"', "\!
;...0:"
't.ri,1
. : ~~~~
:'.' I
:-
,1.~", '
I"
o
"
~ . ..
.'~}
:.'1
. i,/
. : ~::
CLEARWATER POLICE SUPPLEMENTARY PENSION FUND
"'~
.' "I,c
>Ot'
',1
., "~
~,
. 'AGENDA
..{
: "~
"
~OR MEETING OF JULY 13, 19B1
".:
.{
1. Approval of Minutes of Meeting Held June 19,
19B1..
ni
2. " prop~sed Master, Contract Amendment
113.' Proposed Infprmation Booklet
.' .
"
4., Vested Rights'
. f,{
, "
I':.
, '.
., :
.;. ,:,-" '
, '0
'I' ,
Inquiry from retired Captain DavidlPanossian
relative to life insurance ,policies issued
in his name (at time of retirement) .
Eligibility of Police Chief Klein To Enter Plan
7. Certificates of Deposit. Maturing
(a) 'Ratification of T~ansactions concerning
C.D.'s made by Betty Ward
,!
5.
.. '.
, ;
,- ..
, .":
,
. ,..
"
, . "
!'
~ . ~.
6.
"
':.
,',
, ,
, ,
~ . ~
"':
. ,
.JJ/~4'
. \;
srD KLEIN, Secretary
Board of Trustees
,,'
: t~
I",
:..:...J
..
.... L ,>
-. 0 ....<........'t\~;!~ '.''':'\-'.l', .... ~,,~ ",~~.o..,;o............ .:' l .
.'
>C, , \'
",
,', .
" "l'r':'
..':.... .
\
,''''
1 ., ~': ' . . ':
'.. ':. l \ :, 1 ~
.,; ".\"... ,..,' .,t',.' "'f. r.,"J ,_.. I~" I.~( ,....., .:'.;.'.~,I.:' ,l,.
,>i";;';'~,~"~:~:::\'~",}"> ,!<'?'i;t';~i,!,';/';~.'.':.,":~"",~" "::.
:o'~ .', "._ I.: '<.>
'\ ;.; :.'(
::: ',.-' I', ;""', <.;,:;,i ,-.':
1', ~.
. ,1'0'" . ".... :", <..
'.,. '
. I ,.'~. <.. c' ~
" .. .,
;~::.'<.".\'.'. ~
-:.
/
o
, ,
, , TO: 0
.; I~ "
FROM:
CITY OF CLEARWAT'ER
Interdepartment Correspondence Sheet
,All Board Members, Clearwater Police Supplementary
'Pension Fund
0,
I, .
'"
,',
Sid Klein, Chief of Police ~
,COPIES:
, File .
'SUBJECT: B' d '
, ' 'oar of Trustees M~et1ng To Be Held July 13, 1981
DATE:
June 26, 1981
{,' . ,.. '
There will, be a board of trustees meetirig July 13, 1981 at
10:00 A.M. in the police conference room.
'Find attached copies of the following documents"pertaining
to the Police 'Supplementary Pension.
1. Master Pension Trust 'Contract Number GWL-7978
currently in affect (since 1959).
2. Master Pension Trust Contract Number GWL-7978
containing'proposed AMENDMENT, prepared and
submitted to the Board of Trustees by Provident
Life and Accident Insurance Company.
.',
.'" ..:
.1".
'1
"
3. Information Booklet titled, "Your Retirement Plan"
prepared by Provident Insurance with the assistance
o~ the board of trustees (has not been updated
since the Lump Sum Settlement Ordinance was amended
in 1979).
4. Booklet titled, "City,of Clearwater Supplementary
Police Pension and Retirement" prepared by the
Provident Life and Accident Insurance Company, with
a recommendation that it replace the old booklet.
The following legal matters will also be discussed at the
meeting.' ,
1. Vested Rights
2. Chief Klein's Eligibi~ity To Enter Plan
3. Verbai inquiry from retired Captain David
panossian to Trustee Kaminskas with regard
to retiree being allowed to receive all of
his life insurance policies at date of
retirement and borrow against said 'policies
from Provident Insurance Company.
".....,)
.~, .t '.
I'
, "
'c:-:' 'j,'.,
" :.
~f~~r:r ~.~I:':;:~~~';::'{~1- ~'I\;;,ri,:/ !~l'i';i; .';:,;~~,\'~'i":~ ~ ~~',"
o
'. ~,' ~ "',:, ,.., ." ~ .L .
, . ~ . t~.. >,' "'''., < ~ (? .'
. . '
..
CLEARWATER POLICE SUPPLEMENTARY PENSION FUND MINUTES OF MEETING
HELD JULY 13, 1981.
A meeting of the Board of Trustees was held on July 13, 19B1, in
the Police Conference Room, Police Department, 644 Pierce stre~t,
Clearwater" Florida.
, I"
Thefollowi~g Trustees were present:
CHARLES F. LeCHER, Chairman
DONALD HIBBARD
RAY KAMINSKAS
Absent:
SID KLEIN, Secretary
William Sedri'ck
:-)
-...
Also' present were Richard Griesinger, Assistant City Attorney,
and Betty Ward, secretary tOlPolice Chief Sid'Klein.
In the absence of Sid Klein, Chief of Police, Donald Hibbard made
a motion that Sergeant Ray Kaminskas act as secretary for this
meeting. Motion seconded by Mayor LeCher. Motion carried.
Mayor'LeCher called the meeting to order at 10:00 A.M. and called
for approval of ,the minutes of the meeting held June 19, 198~.
Donald,Hibbard made a motion that the minutes be approved. Motion
seconded by Mayor LeCher. Motion carried unanimously.
The second item on the agenda was a proposed Master Contract
Amendment submitted by Provident Life and Accident Insurance
Company. Sergeant Kaminskas made a motion that the City Attorney
or his designee review both contracts and give the Board a legal
opinion as to the validity of the amendment. Donald Hibbard
seconded the motion. Motion carried unanimously.
The third item on the agenda was a proposed information booklet
submitted by Provident Insurance Company. Sgt. Kaminskas made a
motion that the City Attorney or his designee review the booklet
and report back to the Board at its next meeting as to the
correctness of the new booklet. Motion seconded by Donald Hibbard.
Motion carried unanimously.
_../
Item Number Four on the agenda was the subject of Vested Rights'
for participants. Sgt. Kaminskas made a motion that the City
Attorney or his des'ignee review the present ordinance to determine
what benefits an employee has after participating in the Plan for
ten years or more (and under twenty years), and review whether if
an employee does not request his benefits does he lose them. MaY9r
'LeCher directed Assistant City Attorney Richard Griesinger to look
into the matter of vested ri~hts.
Item number five concerned an inquiry from retired Captain David
panossian relative to the life insurance policies issued in his
name. Sergeant Kaminskas advised that Captain panossian has
inquired verbally whether he could be issued his own life
insurance policies, and perhaps borrow against them, in lieu of
the usual lump sum settlement now in effect. Mayor LeCher
~.~ ~. : \ .:.~ i'.. c.:" ~ "t:'>:"~\~
"
.:.:~;-~i~p,t~~.';~~:;"", "'::,'; \' :,~(:::/':~:":' .'".~,I.:...~"",: "
." ,10 ,J
:' ,', .,.,:' ,/': ,', "
:~ '. c
. '
.'
"
",.,j ,1
',.
. ~I
,-" '".~. .' ". '"" . ~.,.. ~,.:, /. '" ~.~ .~ ~ ,., ~, ..~'
.." ".1 ....~ ....
, .
.
.. 'j
Clearwater Police Supplernenta~y Pension ~und
Minutes of Meeting Held July 13, 1981
Page 2
~
, \
directed Richard Griesinger, Assistant City Attorney, to
look into this matter, generally and in Captain Panossiari's
case particularly. ' '
Item number six was the eligibility of police Chief Sid Klein
to participate in the Supplementary Pension. Sergeant Kaminskas
advised ,there there seems to be a conflict as to requirements for
particip~tion in the Supplementary Pension in the Florida Statutes
and the Code of Ordinances of the City. 'Mayor LeCher directed'
Richard Griesinger to look into this matter and to report ba9k to ,
the Board at the next meeting.
....I'!".
",
,",
....,
,:,j
.' I"
.,
, !
Item number seven concerned certificates of deposit maturing.
Betty Ward reported ~hefollowing:
'Biscayne Federal $40,000 money market matures September 3, 1981
Biscayne Federal $30,000 money market matures.September 4, 1981
Freedom Savings $50,000 money, market matures September 17, 1981.
The Board agreed to. hold off on renewing the above listed 'C.D.'s
until a list of those banks in this area who guaranteed PACT
loans could be obtained. The Mayor stated that he would send a
list of these banks to Betty Ward, and she was instructed to
purchase certificates of deposit from these banks if at all
possible. Sergeant Kaminskas made a motion to that affect. Motion
seconded by Donald Hibbard. Motion carried unanimously.
Betty Ward reported the following certificate of deposit transactions
for ratification by'the Board.
June 23, 1981 Purchased $70,000 Money Market CD at
Atlantic Bank at new interest rate of 14.189%
..'.
" ,
, :
:.l
!~.......
'....,,)
~ : : .
'"
, ~~,
.'
"
',':
~~<.
"
June 23, 1981 Purchased $70,000 Money Market CD at
Clearwater Beach Bank at new interest rate of 14.189%
,','<
June 23, 1981 Purchased $80,000 Money Market CD at
Fortune Federal at new interest rate of 14.189%
. . ~
''i, '
Mrs. Ward also reported that on July 9, 1981 Sergeant
Kaminskas had ~enewed the following certificates of deposit:
+}.'
..'.;',
',.
"
.' ~:t
Franklin Federal
First Federal,
Largo
$80,000
80,000
New Interest Rate: 14.300%
New Interest Rate: l4.3bO%
',' .
::.j.
,',
Sergeant Kamiriskas made a motion that the transactions be ratified.
, Motion seconded by Donald Hibbard. Motion carried unanimously.
._1
<" I ;".' f.' ,:;/.. ~r
','
,
" ,
"
;.\\._;..:l",.,~:,.::,:' . ~<.,!.
. ., .'..; '1''< ; . . ~ . ,'. '. .. ~ ;.
", ,<, ,",
. I' . \ ".'; .:,:I:.....'..:...i..:'."tj:.".~.,..<. ',",C~:~~<~
:..'~':/,,:' ""::'.:,'~''':,: ",' '~::.~,: ,."." ;, .' .
. . . > I":.'.:.,, ,I.
.. ,', ',,' i" ':",':.",_~'",'..' ',,' ,
, ',,'.. '" ,.,,;,:.';'.,','1', ":),,','
t' :.., I I '.~ I .:, :., . ~ . '. :'. .: ....:.. ". ,I '~ _
,.~/.:: I'. J' .:: ~ '," .. I.. '.t" ~. ::.;......:.. t': :'l r
..' ", " " I, . . ". '. ,! ':' l ':<:(: ',C. ~
\:,'.~'."r'.:.:..:.~..:.'~.. ~";I :,\.',!:'X:'(:J ','\'.,: l\::\':.. .~ "
I",,:":,~~'~~,~:~j:'::'>:l.'('~'>':'~>''''''~' \:"',\~'::' ';:.:',:I,~.\ '~~'::"",'. '~~":\I'~.".' ,'~:,"~I', .'~
. ~ , . ...... . ~ I.' . , " I . ., , " ." I ~, .. . l ,~... . . I I I
,,:.',:,:'::,:\';';,:, ::J' :,;' ':: ::,:-:,' ",:,' :'j":' '::'-<',: ., ':>:, :", :<: '::',\ ::":,~:' . '\,;':: ..:.,.::" ".:::,,',.';',<.,:.-
"":,.. . . "il,.,.-" .'...'hD' '." ,'....... '.' .'..,. '"o'l .,../ ',(,' '-'I'
.', :".I..',;,/~ ':::;:: ,,;;::-i:'":"'.'; ,: " ...,..,..:.:~>" "">":<:'/"',:'.:< ,.:',',':.-::.:':.,,:: ',.":. '
l.r' > .", ...,...IiIiIIII) \. I '. ,"", '.. ','. H. " I .', ",",',.
" \ I;" .',:. I,
I' . ", >
i,.:l,.....t::.
, ,
, ..
;f;:::r~?;f:<':':':!':~;:';'{;::: ?i::;:'~~~:;:~~:':U'.',ii':~ ~:<.\ '..::~'" '::,.!:J:'~(.'!~::r,,;>:; :.., ::' :: '.: .
','
~. :'", .f; '.:~.~"~ ,.
. , l ", ' ,'" :' .; 'I '. '. ~ .
;} ~ . '., . .": ",
.r
"'.,.<....,.,.
. ". ~ ,<,.\-: '." '::'..r'~':r~' ;~~I~~
.. ,'~
~ ,.,
f_.I, .
," '.
,,',! :- . ~ ~ .
. ":"",
.,
.,\ .
l ~ .' fl'
t': \.
'.~ . .' ,.',!
.' "
, .
",
." ,,"
!:,', .
"
~J .'
. ~c!. :.: \ ;' .~. .
c.,
i...", I
. . \ ,
\,""
, ,I
~ . ~ .
I
"
.\ ,.'-
" '
t.
. . ~ .
.'
.A.'H~~,..-r"f"".r.."..~.... ,.,:. .~.. :...",..... ~''!"'"'.'.JI''' .:. /.... .~,...."}....- .....,,~,_...Ii..
, . .'~ >.' "..' ~. ,':~ "',~ '.' lfl..-V:~.
-- 41 , ~,
. ,
. .
.
({
Clearwater Police Supplementary Pension Fund
o Minutes of Meeting Held JU,ly 13, 1981
,.,..\ Page 3
, ..
.' '.
":"0
. "
Sgt. Karninskas presented the following correspondence which had'been
'received by the Board:
1. Letter from C~E. Renfroe, President of Clearwater Beach
Bank, thanking the Trustees for purchasing the recent
certificate of deposit at their bank. . Letter was
duly noted and will be filed.
2., Letter to the Board from state Treasurer's Office in
Tallahassee advising that the 13th annual Pension Fund
conference will, be held at the Sheraton Twin-Towers in
,Orlando August 27 and 28, 1981. The cost, in addition
to hotel, was a banquet at a cost of $12.02. Mayor
LeCher suggested that the Board leave the decision to
Chief Klein as to whether he wished anyone to attend.
'3. ,Copy of a letter dated July l~ 1981from Jeffrey E.
Butler, Clearwater Assistant City Manager for,Finance,
to Wayne C. 'Voigt, Chief, Bureau' of Local Retirement'
Systems" Tallahassee. There' had been a question as to
whether the Clearwater Police Supplementary Pension
Fund had received an actuarial report for 1980. Mr.
Butler in his letter advised Mr. Voigt that an' actuarial
report had 'been received for 1980 and enclosed a copy of
,the report. Mr. Butler advised the Board of Trustees to
forward a copy of all future actuarial reports to Mr.
. Voigt, in accordance with Florida statutes, Chapter 112.63.
"',
There 'being no further business, the meeting was adjourned at 10:30 A.M.
V../RL
SID KLEIN, Secretary
Board of Trustees
',-.,)