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09/25/1986 ,,' ':.,. I . ~ t . !~ 1,~;,:t:'~;':1ii,'};:;,~}:;;,,;/;/ ; , ,.'. ,.' ~fj!:(.:; '., ' " " " i~:~~:,,:'d:'., .... .' J:.i:.',c' . I )t, . " . ~::!~;,.:."~:'::'I"';'~:"':"'::'~J:":;:'::'" .... t',:. " . , '. . . I . ., "'. :'" , :- . .. .... ":.:, "" ,'. ,';<, :,,?<;.. ';','::, , ,', ~?~,>" :." .' '; (.;'e' ,10". ,.':. <;'i<.::.{': ;.:'.:::.,. .. \.\~:~.:.~ '. ,': : i~.;' I.~ ;<,.~~'j,:'~C"'~' u .;r~~;:::'.<.'<,',. ,,:.. ..~ ". ' :'~ '~..:~~;; " f.....l' . .;:. ".~..:~.;11.'..""~l~~;'~""""'~1 .1:,":(,,' . . :..;. '. . . ;', ~. ,\ , >1,'(" '. .:. ':.~ ..~' -', ,',' ~~1r~I~~'~;\!'!~Ht~0 j)~IJ~tift~~~r_.~tffi{f~~'~1Itt..~",",~ "~'~'T ." L: , '.. ., ,.;:;. ':.":r ,;: ..:'t::;;:."~ii\"::\~:~f; :.'! .! "" . '. ,,':;. H~ "I " " " . . I .' ;,' ~ '.\ ,. "'<' , " ," .'l ,'. . t.' '~'. .' . "..l. " p 'I . ' ~. . '. " :11 'c' f "1 . \ , .: ~ .. t ~. <.,' . . . . ..:. ~ J ::;;...~i ...: .I"~f'-~. :;,i~' . ,,~.. .~, "., ", I .....:f.." '~ll i''' -I- -.n >, . '''''''~' . ~", ~~~ .1<, ,~ I l :/' .,' "\ , . . 1< ..,.,1' " '. ",1 POLICE' '," . ,.. 'SUPPLEMENTARY . ;II PENSION ..'" .' . . . u ~ Minutes' " " :' '. . , " (. , ~< " ~.I , .0 :',1 . ~.,: '. ;.,' DArrE St'~1IIM&t;. ~ /,,~ ,:\" . ," . ~ . ., .~/99 . ,... ~ ~ . I , '>, '. ., i .~.~ ; , -:~ .:~'/:.:;~ ;.,1,.;:: ~~. .. 'e e '. , .' . ~ ! . .. 1. . :.L " " , . . , ,t ,'~ ~ '. \~i ::;.:.~ "'~ '~ :. .:,.f ..... ~ ,'. ',. ," .:'~':.. ~.. , , . I. , . .', . ,', ~ '-'. ,~ i<>: \ .j . , ,. ....: " .:~':'l.~:~'~~ .J.... " .'.', , ',' ...,:..\1..'> .. , , , .~.>': . . .~F::"-~~9!0~:~?I~~~~~~~""l'i''',''l ~': .,' I. , . '.' . \ . ~. 'r , ~ ~ . ". ': ~ J. . ;':.f > ., . ',. r...". ,,::: ;,:'~ \/':\:\:,:{!!/:");\,j:';x:;?; ;, :,\:)Mi~i;i::'~}i"i1,~';::/:;'~.',':, '~I .':,;:r,:'\?':':',,::",:"t.,/;} ;; :. ~' ;., .~ : ',:,. ~.' . , " ." c:. \ ."', . " l.i~;:}~:"('/':::':~:':'" .', ,,:':';;:,,\;:,\;,~::.~-y( ,::"!:~"; ,; 'i';':"<:;;"'" " ,r ~ ' . ~: .'. . ~" \ ~ ' i "'. ," ". ' {~. :.~ . . "/ .,' I, " '\ " ~+":":}":!:;'~""::":r";l'~:~~;~!:~":'~',~.<:;. ;:;,,,, ,'. ,~"' ", . ",. ,~l:.", ';. ,. ~.... > ': ~ "'. " p" < . .'/ '. . ~ I'. : ~ I ~ . ~ .. ,'~, c, I : .'.." .", I', POLICE SUPPLEMENTARY PENSION . c :.~ MEETING OF SEPTEMBER 25,1986 , '/'-"'" ~~'. f" J AGENDA \' l " 1 . Approval of minutes of meeting held August ,14, 1986. ,., correspondence from Joe Sanchez and Jon Spisick, Dean witter Reynolds,. Inc., Fort Lauderdale.' 3.: Correspondence from Dan Deignan, Finance Director (copy of letter to Dan Deignan from Marvin clayton).' 2. 4. Correspondence to Marvin Clayton from Board of Trustees' r~,ference proposed Supplementary Pension' ordinance . , .... Approval of Payment in amount of $500.00 to Betty Ward .,' for bookkeeping services (second semi-annual payment). Approval of invoice from First Florida Bank for annual fee for safe deposit box rental. Amount: $25.00 ' 7. Status of John Borsch lawsuit. 5. ., '"I 6. ,~' < Olt. 8. ~ Transfer of additional funds to Florida Natiohal Bank. ,', '~-) , , ' '''"-'' Request from retired Police Officer Judi Acker for Supplementary Pension benefits. 10. Terminations from Share Plan - Mark MacMicking. 9.. 11. Renewal,of Surety Bond. 12. Adjournment of Present Board of Trustees. ~e~irman MEETING OF SEPTEMBER 25, 1986 NEWLY ELECTED AND APPOINTED BOARD OF TRUSTEES: ,Donald Hibbard Roy R. May Capt. Ray Kaminskas Sgt. William Sedrick AGENDA 'J 1. Appointment of fifth member to Board of Trustees. A. Election of ~hairman and Secretary 2. Annual Pension Fund Administrator's Conference october 8-9, 1986. " .. . / . ~~/:~~f,: ': : ~. ,. :-.i" . ' (., (- yjr;~~.;;.\/r,~~:,:,~,,~"~~"r:'~,'~:'.:r':': .... ....,. . ~. , \ ~ . POLICE SUPPLEMENTARY PENSION .~ .....,...' MINUTES OF MEETING HELD SEPTEMBER 25, 1986 A meeting of the Board of Trustees was held on September 25, 1986 in the second floor conference room at police Headquarters, 644 Pierge 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 Walker, Assistant City Attorney and Betty Ward, secretary to police Chief Klein.' Mayor Kathleen Kelly, Chairman, was absen~. Chief Klein, Acting Chairman, called the meeting to order at 8:30 A.M. The first item on the agenda was approval of the minutes of the meeting held August 14, 1986. Donald Hibbard made a motion that the minutes be approved. Motion seconded by WilliamSedrick. Motion carried unanimously. ,............. .. ) ~-/ The second item on .the agenda was a letter dated August 18, 1986 from Dean Witter Reynolds, Inc. requesting that they be considered as investment management consultants to the supplementary pension fund. The letter will be filed, and in three years when the time comes for the evaluation of the investment counselors, the firm of Dean Witter Reynolds will be considered. .J The third item on the agenda was a copy of a letter dated August 20, 1986 to Daniel Deignan, Finance Director, from Marvin Clayton, Director of Police and Fire pensions, Tallahassee, in which Mr. Clay.ton responded to questions Mr. Deignan had relative to the changes in Florida state Statute 185. Chief Klein referred specifically to the underlined sentence in paragraph 2, stating that the law itself does not state that the fifth member must be a resident of the City. The fourth item on the agenda .was a letter dated August 25, 1986 to ~\arV'in Clayton from sid Klein, Secretary, in which a copy. of the proposed ordinance was enclosed for State approval. Ray Kaminskas stated that he had received a telephone call from Marvin Clayton, Tallahassee, and that Mr. Clayton said our proposed ordinance looked v.ry gOdd. Mr. Clayton did say. that Section 26.73 (evaluation of money managers) was not necessary, but the Board felt that it should be left in the ordinance. Chief Klein suggested that the board inquire as to whether the city auditors might be able to evaluate the money managers. .) . ....... u.. t~ ... .~. ;:....,,1-.., , ~~lt~;".," ..- ~,,:.:~. >' . ~ ":. .... .. . ,~... . . ..~ ."c~. ',' . 1< . ..~ , .l, " . J.:" d' "... . ., . police Supplementary pension Minutes of Meeting Held september 25, 1986 page 2 ,~. ,. The fifth item on the agenda concerned the second semi-annual. payment in the amount of $500' to Betty Ward for bookkeeping services. William Sedrick made a motion that the payment be approved. Motion seconded by Ray Kaminskas. Motion carried unanimously. ...., .' , The sixth item on the agenda was the approval of an invoice in . the amount of $25 from First Florida Bank, for annual rental of safe deposit box. Ray Kaminskas made a motion that the invoice be approved for payment. Motion seconded by Donald Hibbard. Motion carried unanimously. "I'. The seventh item on the agenda concerned the status of the John Borsch lawsuit. Robert Walker, police Legal Advisor distributed copies of a memorandum written to the Trustees and a copy of the Notice for Bearing. Mr. Walker advised the Board that he may need affidavits from board members concerning this case. The date of the hearing is october 1st at 2:15 P.M. . . I " ~:t The eighth item on the agenda concerned a transfer of funds from the Fortune Federal money market account to the Florida National Bank of Tampa for investing. Chief Klein advised the Board that a check in the amount of $410,000 had been turned over to Arvel Gschwend, Florida National Bank and a receipt received for same. ,"''' -'J This was in compliance with the Board' s wishes to invest the ..-/ proceeds of the State of Flor ida monies which are received annually. ~. \ \ .",'c. >. . ,.,.' i The ninth item on the agenda. was a request from retired Police Officer Judi Acker for benefits to which she is entitled under the Police Supplementary Pension Fund. Chief Klein read the letter from Judi Acker. He advised the Board that Judi Acker had seven shares in the Supplementary pension Fund, for a total of $10,127.18. William Sedrick made a motion that the lump sum settlement be made to Judi Acker in the amount of $10,127.18. Motion seconded by Ray Kaminskas. Motion carried unanimously. The tenth item on the agenda concerned terminations from the Share Plan. Chief Klein advised that Police Officer Mark MacMicking resigned from the'police Department effective september 26, 1986. His date of hire was July 22, 1985. Chief Klein stated that since he did not ~etire under the disability section, and he had not been under the Plan for ten years or more, he was not entitled to benefits. The Board agreed. Robert Walker, Police Legal Advisor, said a motion was not necessary. ',~ ~ ;\~,: " ." ''',' \' " J -,;." " ,\ " ~ " ',' . , <:.t.' ','.:. .1..:<, ',I', ' ",' :",' ':I:f:. :-.'/ 1 i"~; ~, . ..,:! ::: ~ ~ ,'. "-/ Chief Klein advised that the second teimination from the Plan was Richard A. Beste~. His date of hire was July 16, 1984, and his resignation is effective october 3, 1986. He will have 2 shares credited to his account as of the resignation date. Since he has not been in the Plan for ten years, and is not retiring under the disability section, Chief Klein stated that he is not entitled to ~> I. ~. . I,t . , ~. .. 'j "J. " : :.. c;.\\ ,t':_, , ,.... ~:1;:) ....i:.;:: t' :'.""':c ..".'",' ':' '.,.... \.\'.. :/["ii:;':,:,{;:'{","';";;,:':),;::::;'";;~,,:cK4}!\i\..'~'~~i..t:'..;,(~.,..",;, ',",:Y2~".. ........,.", . 'M' '1 .,'.' .. ". ,: , >' . I, r ~ .. . . ,"'. . ". ~':: :... ;:'.,;';,~:L(,~':>,:\>/:<')\ , , :_ . I, ~'>~, : , " " .. (. . ,', . r' . ,.1 ." ~' . ' , ':;~';!< ~ ',. . .' , . , . , ~ " , , . I ,.j . . ~"rt\'~~r.'~~.~"~:'':''~'l..'':I\'':~,:-''')~;f.:",:~}.1'''~,~:} ...~'q,,,,~>,,:'j' ,., "'."'.H. ,~ . J 1....t..-$.1' .. ._ d ~.'.';') :",~"~ ....,~.>..". ~ _, '.'."'. ~ L ',; .' ", L .,..' . f' \ r~, '. , . I ~ ,./.. .... '. .....c ~.. . . . .,...., ',tT ~.t. ~ ..~ ~"', , ....' .~... " . . , police'supplementary Pension Minutes of Meeting Held September 25, 1986 Page 3 . , c ~; '. , ~ benefits. The Board agreed. Robert Walker, Police Legal 'Advisor,. stated that a motion' was not necessary. The Board 'agreed that his two shares would remain on the books since his october 3rd resignation date is later than the fiscal year date of September 30th. Item number 11.on the agenda concerned the renewal of a surety Bond that expires 12-2-86. Chief Klein explained that the surety Bond covers the Trustees and the bookkeeper for $200,000 for a 3-year period. The cost three' years ago was $305, however Chief Klein has been advised that the cost will probably increase to at least $500 for the next-three year's coverage. Donald Hibbard made a motion that the Surety Bond 'be renewed. Motion seconded by Willia~ Sedrick. . Motion carried unanimously. One item not on the agenda concerned copies of correspondence which ,had been received by Al Galbraith, city Attorney, relative to Largo's position concerning the 1986 legislation. chief Klein distributed copies to ,all. board members. Mr. Galbraith stated that Clearwater was not likely to participate in the city of Largo's lawsuit. A motion was made by Donald Hibbard to dissolve the existing Board of Trustees. Motion seconded by William Sedri~k. Motion '-. carried unanimously. The Board .was formally dissolved, and the meeting was adjourned at 8:55 A.M. ~~/4 SID KLEIN, Secretary Board of Trustees , 'J ~N~~w:"';' ..; ,.: ,.' ,~:/!' .~',:" >"', .. ",:' , <. .' ..~ " , I . : .. .... . . .... .r~,;'~}.~,"';'.~ "~ ,,],~ >,~.;:~ '\" - ."," ,. L.... c< .- .."! , ~~'lJ; " POLICE SUPPLEMENTARY PENSION MINUTES OF MEETING HELD SEPTEMBER 25, 1986 ," ~ l In compliance with changes in the legislation concerning Florida statute 185 with regard to the composition of the Board of Trustees, the new Board of Trustees met at 9:00 A.M. on September 25, 1986. The following Trustees were present: I ~.. Donald Hibbard Roy R. May Captain Ray Kaminskas Sergeant William Sedrick Also present were Sid Klein, Chief of police, Robert G. Walker, Assistant city Attorney, and Betty Ward, secretary to Police Chief Sid Klein. , .' I ,'1' . '.' ,.'r, The first item of business was electing a Chairman and a Secretary. William Sedrick served as Acting Chairman during the interim. Sergeant Sedrick called the meeting to order at 9: 00' A.M. t l ~, The first item on the agenda was the appointment of a fifth member to. the Board of Trustees, and electing a Chairman and a Secretary. Donald Hibbard made a motion that Police Chief Sid Klein be appointed as the fifth member of the Board, subject to City Commission approval. William. sedrick seconded the motion. Motion carried unanimously. William Sedrick nominated Ray Kaminskas as Chairman, motion seconded by Donald Hibbard. Motion carried unanimously. ": , }'''.. """'~'r \ I. ~......~' " , ~ . . } ". ~ It was the consensus of th~ Board that a Vice-Chairman was needed to serve when the Chairman was absent. Donald Hibbard made a motion that William Sed rick serve as Vice-chairman. Motion. seconded by Roy May. Motion carried unanimously. Sergeant Sedrick nominated Chief Klein as Secretary. Motion seconded by Donald Hibbard. Motion carried unanimously. The second item on the agenda concerned a conference to be held on October 8th and 9th at the Surfside Holiday Inn. The conference is sponsored by the police and Fire pensions, Insurance Commissioner's Office, Tallahassee. Chief Klein urged the members to attend if possible. Chief Klein advised that he would prepare an agenda item for the City commission requesting approval of the newly elected trustees. ...: .4 ?<.1;- ., .. . '. " \. ,'I' .. '.' ~ : .' \ : ~ I ..~ .. '. .~ I '. . There being no further business, Donald Hibbard made a motion that the meeting be adjourned. Motion seconded by William Sedrick~ Meeting adjourned at 9:10 A.M. .l,',". '. ,~'. ; I ,',\," .:' ~ ' : <../ -S./!~ 1 ~ ~.' ..: SID KLEIN, Secretary Board of Trustees ',:....:. \~ ' ", " ~ :;. .'; ,'o,.,.~........--",,,,,.,,,,,,,,,,,,, .', ,,,-of,,....... ..:., _ _""~L~.......H.i.........., ".c ....<. .'f' ,:i.... ';' :'. ',': "':'J'ii:;:{l;":r!;\r!~';i:i;.:,t\:~rg,,;\ft:iki:'i;;'.{1#s~,;:,\'~~;im;;:.;".~~{:.tt~;;;:t/-",,;;:'!:;:')}.,,';-:;,''0::;);.:.\\, ',.' -,' :::j:. .:: ;..~~::':, ~>\ ':. ' .:~::..:: r:"::;. , ., ... '