08/14/1986
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'POLICE
SUPPLEMENTARY'
'PENSION
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POLICE SUPPLEMENTARY PENSION
AGENDA
MEETING OF AUGUST 14,,1986
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1 . APpr~al of minu'l;.~s of meetin~ held July 23, 1986. '\
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2.' 'O~scussi n of ~nvestment portfolio - Report
from Mr. John Willoughby and Mr. Arvel Gschwepd, ,
Florida National Bank, Tampa, Florida.
3. Status of John Borsch lawsuit - Robert Walker,
Assistant City Attorney.
4. Terminations from Share plan:
1. 'Thomas P. Nestor
2. ,Frankie H. Shroyer, Jr.
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5.' Request from pOlice Officer Charles Hughes for
retIrement benefits from Police, Supplementary
, pens'ion Fund.
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'6. Request'from Sergeant ~ohn Sims for retirement
,benefits from police Suppleme~tary Pension Fund.
7. Amendments to police supplementary Pension
Ordinance - Status ,of proposed Ordinance,
,Robert Walker, Assistant City Attorney.
City Commission Work Session: Report from captain
Ray Kaminskas.
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8. Election Process to Fill Trustee vacancies.
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SID KLEIN, Secretary,
Board of Trustees
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POLICE SUPPLEMENTARY PENSION
MINUTES OF MEETING HELD AUGUST 14, 1986
A meeting of the Board of Trustees was 'held on August 14, 1986 in
the second floor conference room at police Headquarters, 644 pierce
street, Clearwater, Florida.
The following Trustees were present:
Police Chief Sid Klein, Secretary
Donald Hibbard
Captain Ray Kaminskas
Sergeant William Sedrick
Also present were Robert G. Walker, Police Legal Advisorf
Pat Buzek, Internal Auditor, City'of Clea~waterf Mr. John
Willoughby and Mr. Arvel Gschwend, Florida National Bank,
Tampa; and Cindy Hicks, secretary ,in, Chief Klein's office.
Mayor Kelly, Chairman, was absent.
Chief Klein, Acting Chairman, called the meeting to order at
9:00 A.M.
The first item on the agenda was approval of the minutes of the
meeting held on July 23, 1986. Donald Hibbard made a motion that
the minutes be approved. Motion seconded by Sergeant Sedrick.
Motion carried u~animously.
An item 1A was added to the ,agenda. This was a letter from the
state of Florida, Department of Insurance and Treasurer, dated
August 10, 1986 to the Mayor (which will be copied to the Board).
chief Klein related to the Trustees that the State had finally
transmitted ,the state check to the City. Also in this regard,
that the Finance Department called and advised that they have the
check; it will be picked up today.
The second item on the agenda was discussion of the investment
portfolio. A presentation was made by Mr. John Willoughby and
Mr. Arvel Gschwend. A discussion was held regarding the port-
folio and all questions were answered to the satisfaction of the
Board. The Board requested that they be advised of the total
value as of September 30, 1986. A motion was made to retain
Betty Ward to provide clerical assistance for the Board. The
motion was made by Captain Kaminskas and seconded by Donald
Hibbard. It was carried unanimously.
The third item on the agenda concerned the status of the John
Borsch lawsuit. Discussion was' held and the Board agreed to
defer a decision until the next meeting in order to conduct
additional research regarding criteria of the' plan.
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Police Supplementary Pension
Minutes of Meeting Held August 14, 1986
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The fourth item on the agenda was the terminations from the Share
Plan. The Secretary to the Board brought to the'Board's
attention the fact that Officers Thomas P. Nestor and Frankie H.
Shroyer, Jr., have resigned, do not meet the criteria for retire-
ment and their shares are therefore being reverted ,to the Plan.
The fifth item on the agenda concerned a request from Charles
Hughes for retirement benefits. ~ motion was made by Sergeant
Sedrick to approve the retirement benefits for Charles Hughes
upon his official retirement date of January 30, 1987. The
,,' motion was seconded by Donald Hibbard 'and carried unanimously.
The sixth item on the agenda 'concerned a request from John E.
Sims for retirement benefits. A motion was made by Sergeant
Sedrick to approve the, retirement benefits for John E. Sims upon
his official retirement date of January 30, 1987. The motion was
seconded by Donald Hibbard ,and carried unanimously.
The seventh item on the agenda was the amendments to the Police
Supplementary Pension ordinance. This was discussed by the Board
and a final review of the amendments to the pension ordinance
will be done by the Assistant City Attorney, and then it will be
submitted to the Board again for final approval. A discussion
was 'also held by the Board with regard to potential nominees to
fill the vacancy created by the Mayor's resignation.
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The eighth item on the agenda concerned the election to fill
trustee vacancies. Chief Klein advised the Board that nomi-
nations would be accepted on Friday, August 15th for election of
the two police officer positions on the Board.
A discussion was held regarding the October 8 & 9 pension
,conference and tentative arrangements will be made to have Robert
Walker, Donald Hibbard, Sergeant Sedrick, Betty Ward and new
members attend.
A motion was'made by Captain Kaminskas that there being no
further business the meeting be adjourned. Motion ,was seconded
by Donald Hibbard and passed unanimously. Meeting adjourned' at
10:45 A.M.
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SID KLEIN, Secretary
Board of Trustees
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