12/08/1983
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',POLICE
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,'SUPPLEMENTARY'
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PENSION
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Minutes
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,AGENDA
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Clearwater Policesuppleme~tary Pension Fund Meeting Thursday,
,December 8', 1983 r at 9 :30 A.M. in the' Police Conferenc~ Room,
Police Dep~rtment, 644 Pierce Street, Clearwater, "Florida.
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1. '
Approval of' minutes of meeting held October 20, 1983.
Certificates of Deposit Maturing
Be,t ty Ward.
2.
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Ratification of business transactions made by Betty l'Jard.
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Request from former Police
're-employment.
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Officer Ken Donagan
for
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SID KLEIN, Secretary
Board of Trustees
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,CLEARWATER POLICE SUPPLEMENTARY PENSION FUND - MINUTES OF MEETING
HELD DECEMBER 8, 1983.
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A meeting of the Board of Trustees was held on December 0, 1983 in
the Police Conference Room, police Department, 644 pierce street,
Clearwater', Florida.
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The following Trustees were present:
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Mayor Kathleen F. Kelly, Chairman
police Chief sid Klein, Secretary
Donald Hibbard
Captain Ray Kaminskas
Officer William Sedrick
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Also present were Robert G. Nalker,'Jr., Assistant City Attorney,
and Betty Ward, secretary to Police Chief Klein.
Chairman Kelly called the meeting to order at 9:30 A.M.
The first item on the agenda was the approval of the minutes of .
the meeting held on October 20, 1983. Donald Hibbard made a motion
that the minutes be approved. Motion seconded by William'Sedrick.
Motion carried unanimously.
Item #2 on the agenda concerned certificates of 'deposit maturing.
Betty Ward reported the' following C.D.ls would be maturing:
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"'.) December 9, 1983 $ 50,000.00 First city Federal
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..... 20,000.00 First City Federal
10,000;00 Pioneer Federal
December 12, 1983 100,000.00 Florida Federal
100,000.00 st. Petersburg Federal
December 20, 1983 40,000.00 l\.meri-First
80,000.00 For.tune Federal
December 21, 1983 100,000.00 Glendale Federal
January 5, 1984 $ 20,000.00 First City Federal
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Ray Kaminskas made a motion that the C.D. 's be renewed for six months'
at the best interest at maturity. Motion seconded by William Sedrick.
Motion carried unanimously.
Item #3 6n the agenda concerned ratification of business transactions
made by Betty Ward. Mrs. Ward reported the following transactions
were completed:
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October 20, 1983 a $50,000 CD at pioneer Federal was renewed
at interest rate of 9.25%
October 21, 1983 a $10,000 CD Wi.lEi purchased at Ameri-First
'0, at interest rate of 9.50%.
October 31, 1983 a $40,000 CD at pioneer Federal was renewed
at interest rate of 9.50%.
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"...J Trustee Sedrick asked the Board if he might bring some sample Share
Plans'to the next meeting. He inquired as to whether the Board
would be interested in pursuing changes to the present Plan, if it
was possible and desired. Mayor Kelly asked if these proposed
changes would need 100% approval of the membership. Officer Sedrick
stated a legal opinion would be needed. , Chief, Klein commented that
the officers presently have a workable Plan and that in order to
change it you may run into problems. The Board did agree that
Trustee Sedrick could bring samples of Share Plans to the next
meeting.
Bob Walker, Legal Advisor, reported that he is still researching the
subject of Vested Rights.
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Minutes of Meeting held December 0, 1983
Page 2
November 15, 1983 $ 20,000.00 CD at Fortune Federal
was renewed at interest rate of 9.50%.
Ray Kaminskas made a motion that the transactions made by Betty
Ward be ratified. Motion seconded by Donald Hibbard. . Motion
carried unanimously.
Item ~4 on the agenda was a request from former Police Officer Ken
Donagan for re-employment. Chief,Klein stated that a request had
been received from Ken Donagan for re-employment. His request has
been approved by the Personnel Department and Chief Klein, subject
to certain conditions set forth by the Civil, Service Rules and
Regulations and'the General Employee's Pension Plan. ' One condition
being that his 'pension benefits would be based on his new employment
date and not on his past service. Chief Klein further stated that
Ken Donagan's participation in the Supplementary Pension was
terminated at the time of his resignation. William Sedrick made a
motion that Ken Donagan be accepted for re-entry into the Police
Supplementary Pension, subject to his official re-employment date
and after one year's service, eligibility to begin the following
September 17th, the anniversary date of the Plan. Motion seconded
by Ray Kaminskas. Motion carried unanimously.
There b~ing no further business, the meeting was adjourned at 9:55 A.M.
Respectfully submitted,
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SID KLEIN, Secretary
Board of 'Trustees
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