01/23/1984
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'POLICE
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SUPPLEMENTARY
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PENSION
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AGJPNDA
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"CLEARWATER POLICE SUPPLEMENTARY PENSION FOND MEETING
Meeting of, January 23, 1984
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1. Approval of minutes of meeting held December 8, 1983.
'2. '
Certificates of Deposit Maturirig -Betty Ward
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3..,' ,Ratification of Transactions made by Betty Ward.
4. corre~pondencefrom'Florida Association of PUbiic
Employee Pension Trustees, dated December 5, 1983.
5., Apprqval of invoice from Provident National Assurance
Company - Prep~ration of,l983 Actuarial Report.
,6. Approval to expend funds to purchase a Deferred
Annuity for retiredpolice officer Monty Krysko.
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7.
Approval to expend funds to'pay for cost of benefits
for retired Sergeant Robert Pitman.
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SID KLEIN, Secretary
Board of Trustees
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',CLEARWATER POLICE SUPPLEMENTARY PENSION FUND - MINUTES OF MEETING
HELD JANUARY 23, 1984
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A rneeting of the Board of Trustees was held on January 23, 1984
in the Police Conference Room, Police Department, 644 pierce
Street, Clearwater, Florida.
The following Trustees were present:
Mayor Kathleen F. Kelly, Chairman
Police Chief Sid Klein, Secretary
,Donald Hibbard
Captain Ray Kaminskas
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Also present were Robert G. Walker, Jr., Police Legal
Advisor, and Betty Ward, secretary to Police Chief 'Klein.
officer Sedrick, Trustee, was absent.
Chairman Kelly called the meeting to order at 8:15 A.M.
The first item on .the agend~ was the approval of the minutes of
the meeting held on December 8, 1983. Ray Kaminskas made a
motion that the minutes be approved. t1otion seconded by Donald
Hibbard. Motion carried unanimously.
Item number two on the agenda concerned certificates of deposit,
maturing. Betty Ward reported, the following CO's would be maturing:
$50,000 CD at Ameri-First matures February 15, 1984
$100,000 CD at citizens Federal matures February 16, 1984.
Ray Kaminskas made a motion that the $50,000 CD be reduced to '
$40,000, in order to have sufficient funds to pay the cost of
three participants who will be retiring within the next few
months, and to renew the $100,000 CD at the best interest rate
at maturity. Motion seconded by Chief Klein. Motion carried
unanimously.
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Item number three on the agenda was the ratification of ,business
transactions made by Betty Ward.
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December 9, 1983 the following CD's
$20,000 First City Federal
60,000 First City Federal
10,000 pioneer Federal
were renew<<;!d:
9.55% interest
9.55%
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. December 12, 1983:
$100,000 Florida Federal
100,000 Centerbanc
9.50%
9.65%
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December 20, 1983:
$ .40,000 Ameri-First
80,000 Fortune Federal
9.25%
9.60
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December 21, 1983:
$100,000 Glendale Federal
9,37%
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January 5, 1984:
$20,000 First city Federal
9.55%
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Clearwater Police Supplementary Pension Fund
Minutes of Meeting held January 23, 1984
Page 2
Chief Klein made a motion that the ,transactions be ratified. Motion
seconded by Ray Kaminskas. Motion carried unanimously~
Item number four on the agenda concerned correspondence from
the Florida Association of Public Employee'Pension Trustees.
Chief Klein reported that a letter dated 'December 5, 1983 had
been received from Jerry Mahoney, Membership Chairman, seeking
new members for their,organization. The Board noted the
contents of the letter and asked that it be filed.
Item number five on the agenda concerned an invoice from
Provident National Assurance Company in the amount of $3,150.00
'for the preparation of the 1983 Actuarial Report. Ray Kaminskas
made a motion that the invoice be approved for payment. Motion
seconded by Donald Hibbard. Motion carried unanimously.
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Item number .six on the agenda concerned a request from Monty
Krysko for pension benefits. Chief' Klein reported that there
was a question relative to the calculations received from
Provident on Krysko's benefits. Ray Kaminskas made a motion
that Monty Krysko's request for benefits be approved and that'
the funds be expended once it is determined that the calculations
are, correct. Motion seconded by Donald Hibbard. Motion carried
unanimously.
Item number seven concerned pension benefits for retired Sergeant
Robert Pitman. Chief Klein reported that the figures from
Provident are being checked to make ,certain they are correct.
Ray Kaminskas made a motion that the funds be expended to pay
for the cost of Sergeant Pitman's benefits when it is determined
that the calculations are accurate. Motion seconded by Donald
Hibbard. Motion carried unanimously. '
There being no further business, the meeting was adjourned at
8:30 A.H.
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SID KLEIN, Secretary
Board of Trustees
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