10/30/1984
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POLICE
,SUPPLEMENTARY
PENSION
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Minutes
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POLICE SUPPLEMENTARY PENSION
MEETING OF OCTOBER 30, 1984
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AGENDA
1. .'Approval of Minut'es of Meeting held September 14,. 1984
2. Certificates of Deposit Maturing - Betty Ward.
3. Ratification of business transactions made by Betty
Ward., '
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3. Approval of Inyoice from provident for Increases 'for
present participants and New Eligibles asoi 9/17/84.
4. Report or,Nomination Meeting held october 17, 1984.
5. Appointment of Trustee by the Board to fill the vacancy
created by the expiration of Donald Hibbard's term of
off i ce . '
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,,6. Approval of expenditure of funds to finalize.lump sum
payment for retired Sergeant Chester Cichowicz.
7. Se~ eligibility date for Supplementary Pension for
position of Recruit.
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SID KLEIN, Secretary
Board of Trustees
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CLEARWATER POLICE SUPPLEMENTARY PENSION FUND - MINUTES OF M8ETING
HELD OCTOBER 30, 1984
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A meeting of the Board of Trustees was held October 30, 1984 in
the second floor Conference Room at police Headquarters,
644 pierce Street, Clearwater, Florida.
The following Trustees were present:
Sid Klein, Secretary
Donald Hibbard
Captain Ray Kaminskas
Officer william Sedrick
Mayor Kathleen F. Kelly, Chairman (Absent)
Also present were Robert G. Walker, Jr., Assistant City
Attorney, and Betty Ward, secretary to Chief Klein.
Chief Klein acted as Chairman and called the meeting to order at
10:15 A.M. The first item on the agenda was the approval of the
minutes of the meeting held September 14, 1984. Donald Hibbard
made a motion that the minutes be approved. Motion seconded by
Captain Kaminskas. Motion carried unanimously.
".~ The second item on the agenda concerned certificates of deposit
maturing. Mrs. Ward reported that there is 1 CD maturing in
November, 8 C.O.ls in December, and one in January, 1985. Officer
<:) Sedrick made a motion that the COls maturing in November,
December, and the one CD in January, 1985 be renewed at the best
rate possible at maturity. Motion seconded by Captain Kaminskas.
Motion carried unanimously.
Item number three on the agenda was the ratification of business
transactions made by Betty Ward. Mrs. Ward reported that
pursuant to the Boardls instructions, she had withdrawn the
$10,000 CD from Ameri-First and deposited the proceeds to the
Fortune Federal Money Market account, had renewed the two CD'S
maturing in October, 1984 at interest rates of 10.95 % and
10.70%. Captain Kaminskas made a motion that the transactions be
,ratifiedG Motion seconded by Officer sedrick. Motion carried
unanimously.
Item number four on the agenda concerned a report on the
Nomination Committee meeting. Chief Klein reported that the
meeting was ~eld on October 17, 1984, and that Sergeant Mike
Egger had nominated Captain Kaminskas, and Mike Stuart had
nominated Officer Sedrick. There were no nominations from the
floor. Chief Klein announced that the election would be held from
7:00 A.M. Thursday~ November 1, '1984 until 7:00 A.M. Friday,
,November 2, 1984. Chief Klein advised that at the conclusion of
the election, an agenda item would be forwarded to City Hall so
that these appointments may be approved by. the City Commission.
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CLEARWATER POLICE SUPPLEMENTARY PENSION FUND
MINUTES OF MEETING HELD OCTOBER 30, 1984
Page 2
Item number five on the agenda concerned the appointment of the
resident Trustee as Mr. Donald Hibbard's term will expire in
November, 1984. Chief Klein asked Mr. Hibbard if he would be
willing, to serve another term, and Mr. Hibbard said he would'
serve. Captain Kaminskas made a motion that Donald Hibbard
be appointed for another term. Motion seconded by Officer
Sedrick. Motion carried unanimously.
Item number six on the agenda concerned the approval for the
expenditure of funds to pay the pension benefits to which retired
Sergeant Chester Cichowicz is entitled. Chief Klein reported
that Cichowicz' lump sum settlement would be $50,239.85, and that
the cash surrender value of his insurance policies amounted to
$18,251.77, leaving $31,988.08 to be paid from the fund assets.
Captain Kaminskas made a motion that the expenditure be approved.
Motion seconded by Donald Hibbard. Motion carried unanimously.
Item number seven on the agenda concerned the new position of,
Police Officer/Recruit. Chief Klein explained the new position of
Recruit, and advised that the matter of an eligibility date for
allowing the Recruit to begin participation in the Police
Supplemtary Pension should be addressed. Bob Walker, Assistant
City Attorney, was asked to research this matter, and to bring
back his findings to the next meeting, which in all probability
would be in the early part of January, 1985.
Officer Sedrick distributed to all board members a list of
questionable items relative to the proposed Share Plan Concept.
Robert G. Walker, Assistant City Attorney, was asked to research
these ,items and report back to the Board at its next meeting.
Officer Sedrick made the following motion: That the Board of
Trustees of the Clearwater Police Department Supplementary
Pension Fund di~ect efforts toward the establishment of a pension
fund based on a share formula. That the above described share
plan system, if and when implemented, shall have met with the'
approval of the Bureau Chief of the Bureau of Municipal Police
Officer's Retirement Trust Fund prior to formal implementation.
That the above described share plan system, if and when
implemented, shall have received approval of a majority of the
participants of the Clearwater Police Department Supplementary
Pension Fund prior to formal implementation. ,That any legal
issue effecting any member of the Clearwater Police Department
Supplementary Pension Plan shall have been resolved to the
satisfaction of the Board of Trustees of the plan prior to formal
implementation of a share plan. The motion was seconded by
Captain Ray Kaminskas. Motion carried.
There being no further business, the meeting adjourned at
10:40 A.M.
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SIrr KLEIN, Secretary
Board of Trustees