09/25/1981
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POLI.CE
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SUPPLEMENT ARY
PENSION
Minutes
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CLEARWATER POLICE SUPPLEMENTARY PENSION
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AGENDA
FOR MEETING SEPTEMBER 25.,'1981
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l.,,~pproval of- minutes of meeting held August 28, 1981.
.2. Certificates of Deposit Maturing in October, 1981~
3. Ratification of CD transactions made by Betty Ward.
.4.'. ,Invoice from Provident Insurance Company ,( $25.00)
for calculation. of capital'gains and ordinary income
elements in 1ump'sum distribution for Charles E.
Hayden.
; 5. Legal Opinion submitted by Richard Griesihger, "
.Assistant City Attorney, dated September 17, 1981,
regarding eligibility of Sid Klein, Chief of Police,
to epter Supplementary Pension Plan.
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6. Pending Legal Matters - Report by sid Klein,' Chief
of Police, for Richard Griesinger, Assistant City
Attorh~y.
7. Payment to Betty Ward for secretarial services.
(balance of semi-annual payment - $500.00).
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SID KLEIN, Secretary.
Board of Trustees
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CLEARWATER POLICE SUPPLEMENTARY PENSION FUND - MINUTES OF HEETING
~LD 'SEPTEMBER 25, 1981.
.A meeting of the Board of Trustees was held on September 25, 1981, in
. the Police Conference Room, Police Department, 644 pierce Street,
" .,. Clearwater, .F1orida.
The following. Trustees were present:
Mayor.Charles F. LeCher, Chairman
Police Chief Sid Klein
Donald Hibbard
Sgt. Ray Kaminskas
Officer William Sedrick was absent.
Also'present was Betty Ward, secretary to Police Chief Sid'Klein.
Richard Griesinger, Assistant City Attorney, was absent.
Mayor LeCher called the meeting to order at 11:00 A.M. and called for
approval of the minutes of the meeting held August 28, 1981. Donald
Hibbard made a motion that the minutes be approved. Motion seconded
by Ray Kaminskas. Motion carried unanimously.
Item number t,~o concerned maturing certificates of deposit. Betty Ward
. ,reported the following money market certificates maturing in October,
, , :' 1981:
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$50,000 money market
$40,000 money market
Clearwater Federal
Clearwater Federal
October 22, 1981
October 29, 1981
Ray Kaminskas rnade a motion that the CD's be renewed at the best interest
rate possible at maturity. Motion seconded by Donald Hibbard. Motion
carried unanimously.
Item number three on the agenda was ratification of CD transactions
made by Betty Ward. She reported as follows:
9-3-81 withdrew $40,000 CD at Biscayne Federal
9-4-81 withdrew $30,000 CD at Biscayne Federal
9-17-81 W~thdrew $50,000 CD at Freedom Savings
Mrs. Ward reported that the proceeds were deposited to Barnett
Savings Account, and that on September 17, 1981, a check in
the amount of $130,145.73 was mailed to Provident Insurance
Company for payment of life insurance premiums for present
participants as of anniversary date of 9-17-81. .
'sergeant Kaminskas made a moti~n that the transactions be ratified.
Motion seconded by Donald Hibbard. Motion carried unanimously.
Item number four was an invoice from Provident Insurance Company in
the amount of Twenty Five ($25.00) dollars for calculation of '
.. .)apital gains and ordinary income elements in lump sum distribution
-retired Sergeant Charles Hayden. Chief Klein explained to the
for
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Clearwater Police Supplementary Pension Fund,
~, Minutes of meeting held September 25, 1981
Page 2
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Board that the information which had been requested was for the
purpose of the employee's tax return, and Chief Klein made a
motion that the cost for employees' tax calculations be borne
by the employee, and that the invoice in question be forwarded
to Charles Hayden for payment. Sergeant Kaminskas seconded the
motion. Motion carried unanimously.
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Item number five on the agenda was a legal op~n~on .submitted by
Richard Griesinger, Assistant City Attorney, dated September 17,
1981, regarding eligibility of Sid Klein, Chief of POlice, to
enter the Supplementary Pension Plan. Mayor LeCher stated that
'he had seen a copy of the legal opinion and that he had no
problem with it, and that basically it requires no motion. It
was the consensus of opinion of the Board to accept the legal
opinion as written.
Item number six concerned pending legal matters. In the absence
of Richard Griesinger, Assistant City Attorney, Chief Klein made
the following report:
Richard Griesinger wished the Board to be advised that a
legal opinion would be forthcoming on the reque?t made by
retired Captain David Panossian regarding his life
insurance policies at retirement. Mr. Griesinger also
advised that the proposed insurance contract amendment is
being reviewed by Ed Siver and Associates.
Item number 7 on the agenda was the semi-annual payment to
Betty Ward for bookkeeping and secretarial servIces. Chief
Klein made a motion that the semi-annual payment of $500.00
be approved for payment. Motion seconded by Sgt. Kaminskas.
Motion carried unanimously.
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There being no further business, the meeting was adjourned at
11:25 A.M.
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Board member William Sedrick arrived a few minutes after the
meeting had adjourned and advised the Board that he had, not
known that the meeting had been changed from 11:30 A.M. to
11:00 A.M. He asked if the meeting could be re-convened as
he wished to discuss the previous agenda item (item #5). The
Board agreed to.re-convene the meeting. Officer Sedrick stated
that he would like to discuss the legal opinion submitted by
Richard Griesinge~, Assistant City Attorney, concerning Chief
Klein's eligibility to enter the Supplementary Pension. Chief
Kleint at his own request, left the rr.eeting at this point.
Officer Sedrick stated that, he had some problems with the
interpretation of Florida state Statute 185.01 as it'refers to .
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. Clearwater Police Supplementary Pension Fund
Mihutes of Meeting held September 25, 1981
Page 3
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, "definition of a police officer". It refers to police officers
who investigate accidents in the State of Florida. He was of
-che "opinion that the City had taken what the legislature had
.done and supplemented the general pension plan. He did not
think its, intent was to furnish large life .insurance policies
for, transient administrators, that it was a retirement plan.
Officer' Sedrick stated that i,t wa,shis job to represent the
~'partipiparits of the Plan. Mayor LeCher stated that Officer
,Sedrick had brought up a technical point. He further. stated
. that perhaps a better word than "transient" could be used in
. ' this. cas~. He suggested' .that Officer Sedrick prepare:; a ,
. .. 'memorandum requesting Richard. Griesinger, Assistant 'City
. . Attorney , .~ to . address these points. Officer Sedrick then made
a.. motion. that Richard Griesinger be asked to ,comment on the.
issues he had. brought forth. Motion seconded by Sergeant '
Ray Kaminskas. Motion carried unanimously. Officer Sedrick
stated that he would have something prepared by the next meeting.
The second meeting adjourned at 11:35 A.M.
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SID KLEIN, "Secretary,
Board of Trustees
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