Loading...
03/30/1988 ;..,Sf;:t/~:~:t~y:~;::y~~~ :~i}~'(:~,:::?~~~:,f:'?,~:t:<,,:l:,!,"',:;:~'... '::~":,~~~?'?: 1, "'l~~:, >J': " c.~, : ":;,. "c\" , , . ~ '. lc\' '. .'r ,+ ,;'",'(11. ,,', :/. 1"> '>, ' ". ,~ ~. ,~,' I,. , '; ,,:r ,:,' , "'-:':'" :::;;::~W:8: " .t ,\, 1-'; f,.j ,~ . ~ j!";';1 '~" ,', I~~\~~:., : .'. ~, 1 \\ : ~ '; ,.' ,~:- , ~\~.~ ': ' f} >'': ~ .', .'. I., , ' ;:~:<:'>" .' Ii ',;' ,; ..': " " , ,:,.... : ,"'- " ,{; I,:~.,~:\.:. L/ !' ,: .~;~. .' , I. ",t,,,, '. ',I" '. '.. ~:' \ ~ ;' ' " " ",' ,'. ,': ",i. --.~: . ;::;1 ,""I' ";. ' 't .,,: J ',; ~ I: t. ~ ...L, . 1 ,~ '., ~~ ".~,'i' ~~,'" /1: .. ' \., , . .: ',~ ,~, .,:..":;.. I , " ",", i."" " ' ~. , .....~.tl:'.t!l!);'.tr.!'.:'.:p'.!(~~ ~~~H"'~~I)"'~.;r,~,";'I..l...t ~~~',''''''I",,:~~, \-._.,.~. > '1'.":' q' TJ\ : .~f..!'~ Of ',1 '....',..j.,. rl\.U" """'~} ~v, '. , ....~' ~ l. ,.f:-I'". " ' ,i J , , " .}' 'I \ ' ,f POL,ICE . I, ,I SUPPLEMENTARY PENSION 'Ii Minutes " " ., ,'I ;, . DATE, 1hA"~,,, "J~ I' ,P: , , "',. ' " " , 536,' " " " 'l " . , ' , \ ,I \ \ ,I ! " J,. --~'...... ".......: :,.~ ,.' ."......~.."..__~lo..,...-.-:--~.' .:..' ~I:.,; ., ..U'MiI:...... ..'" , ' ~~~('~:j;,: :>;:*:',",, " ",:;, " :,::', "..'. cc .. .: \~:, '::': .=,'Y', ..>, ", "'.c . I ~ , " " " .-.;....'-1,'11..,. .1.". i~'"", .., .. ~ ,. ..~,..~..... ~ c .' QII , _ '+ '4 , ' . .. ~ AGENDA " \" CJ T,:)'" CLEARWATER POLICE SUPPLEMENTARY PENSION FUND Meeting March 30, 1988 9:30 A.M. 1'. Meeting called to order by Chairman Ray Kaminskas. Introduction of newly appointed Assistant City Attorney ROBERT SURETTE. 2. Approval of Minutes of meeting held September 24, 1987. Status of, investment account - David R. Kenney, Vice President, Florida National Bank, Tampa. Reinstatement of Police Officer William Weller as a participant in the Police Supplementary Pension. 5. Terminations from Supplementary Pension. 'i 3 . ," 4 . Gary J. Kolb - resigned October 26, 1987 (date of hire was 12-8-86). ' .-.... , ( , ,-",' Thomas.W. Lynch - resigned December 28, 1987 (date of hire was 5-16-83). 6. John Welch - retired police Officer - change in status of type of disability pension granted by General Employees' Pension Plan. 7. Annual"Report to State of Florida for fiscal year 1987. Distribution of Copies to Board of Trustees 8. Investment Fee invoices from Florida National Bank: $2,570.23 for period 7/1/87 - 9/30/87 $2,613.90 for period 10/1/87 - 12/31/87 9. Request for Legal Opinion (Police Recruit). 10. Approval of second semi-annual payment to Betty Ward in the amount of $500 for bookkeeping and secretarial services. " , I V ,,"p.-" , '.. - ..., . ,~~"...I,~~........t-dl\~.......,..u..J""''''''''''' ..t......, ~..........._.<... . . '..... "',. I",,~._. "'''(II'i...~~......~..,. ~ ,+(.\, . ,~ ",' l" ;. , .. '1" , ~ ~, . ,- ~. ~..... r t.."". I , ! I I , j I I , , , . I ,".. . '. , ,', , ~,. ",' (~' ...",-",," ,.': .1\' ' ':,! ,-I " ',"'. ~:' \>' 'J," , i,';' I".......... i' , '-., .J " .1:.., ',L',I ,',I , " , ~,' ;~' . .'/, I ~ ;.. :1,;' " , . ~.<; , ';;!'; , ~, I P . ..:.> , ,',' ~ '~~ ,~'~ .',,\'i ~:I ;' q' .;\, " \.....,.; ". ,... ~ ' ,\ .'1.', . , '" . ',. . ,. I, ' CLEARWATER POLICE SUPPLEMENTARY PENSION MINUTES OF MEETING HELD MARCH 30, 1988 A meeting of the Board o~ Trustees was held on March 30, 1988 in the second floor Conference Room of police Headquarters, 644 pierce Street, Clearwater, Florida. The following Trustees were present: Captain Ray Kaminskas, Chairman Sergeant William Sedrick, Vice-Chairman Roy May, Secretary Donald Hibbard William Horton . Also present was Robert Surette, Assistant City Attorney. , Betty Ward, Secretary to police Chief sid Klein, was present and, recorded the minutes.' Guests present were David Kenney and Tom James, Investment Counselors, Florida National Bank. 'Chairman Kaminskas called the meeting to order at 9:30 A.M. and introduced Robert Surette, Assistant city Attorney, who will act as Police Legal Advisor to the Board. David.Kenney introduced Tom James, an associate with the Florida National Bank in St. Petersburg, and stated that Mr. James also worked on the portfolio of the investment account for the Police Supplementary Pension. Mr. Kenney distributed copies of an Investment Review dated March 30, 1988 which contained Account Activity, purchases and Sales and portfolio Summary from fiscal year-end September 30, 1987 through March 29, 1988. Mr. Kenney stated that he had met with Betty Ward and Pat Buzek, Inte~nal Auditor, prior to the end of the fiscal year, and that the figures for the annual report seemed to be in good order. The Board complimented Mr. Kenney for his assistance and cooperation in furnishing the figures within the fiscal year time frame. Mr. James stated that he would like to purchase some high quality corporate bonds in the future, as tney had been purchasing all government bonds in the past. Captain Kaminskas asked if they were within the restrictions of types of investments the fund could purchase and he replied that they were. He stated that he would like to mix some of the corporate bonds with the government bonds. Mr. Kenney advised that the fund was not hurt greatly by the stock market crash as the fund did not have that much in stocKS at that time. , Mr. Kenney and Mr. James left the meeting at 9:50 A.M. :r,: n>,:;~~;: ;,ii,c.;,i': '! '.",. ~',..; '.~' . ' I,', I~:',.:..:' ...';." ',::..:: . :':.,,'. :'" ' ~ '." . ',~ ., 't...., >h ".'.: :.~,:"I:,<" ...',. ,'.',',.., . , I" ,',"'. "" /,.", , ,..<' , .... ",:, :'"..:.:....".'~>,',::,:':. .. .:.'.,',;':, ...,', ..".",'.. . ..".,:,.::,.":':.,;."..',: 1, ,"~' ,',':...!"":,,.,".,~., "::: ::,.'" '.:;,i,~:,..._,'....,;.:,'~:::,;'.','~:.:,'::,.".,..".,':':'" ::".,~:.:,.":;:,.,:'..'.;':..,,c;.';,.. ,'.,':' '.',..,,';,':":.,.,'.1': ,:"".,:~...,':.,,:.',_..' .':'.', ,,: ,::"":",' .:::i.~<..~.,:j::>,"::,.:.;',i,;,t,:.:.'::.'\:.:;,'.;:..":;':,:..,,,~:,:.:::;,:;,',,';,!.~,..'.:.<:,:!....<'., '".. '\ ',., ~I' ."" . "'~',.... '" ,,;~., .' \', '...' ." c;'" ,;..~: I,. '.'. ""'\\I',I~' ,:,,\,'~ ,'.': .:','..-:"~.I:.i.iI;:,,:' ...~,:.,~';.:~ . :i~):;t;:';,}'!::'::!u';r>/,' .~' . .. ' " , '. : I ' J . . . '. . . . 'I " ' .....' '.'_ ~;/., "" 'c:l;- '~, ~ ~ . . Minutes of Meeting held March 30, 1988 page 2 o Item *2 on the agenda was the approval of the minutes of the meeting held September 24, 1987. William Sedrick made a motion that the minutes be approved. Motion seconded by Roy May. Motion carried unanimously. J Item 13 - status of investment account at Florida National Bank was handled at the beginning of the meeting. Item 14 - Reinstatement of Police Officer William Weller. Captain Kaminskas advised the board that William Weller had been demoted effective July 20, 1987 from police Officer to Communications Operator II, and that as a result of a court order Weller had been reinstated to Police Officer effective February 1, 1988. . Sergeant Sedrick made a motion that Officer Weller be reinstated as a participant of the Police Supplementary Pension, with no loss of shares. Motion seconded by William Horton. Motion-carried unanimously. Chairman Kaminskas asked Robert Surette if it would be possible for the board to have a copy of the reinstatement order by the court. Mr. Surette stated that he would try to obtain a copy for the files. Item #5 concerned terminations from the Supplementary Pension. Chairman Kaminskas explained the background of terminations, stating that unless a participant ,was retiring with a 'disability pension, or had been a participant in the plan for ten years or more, the terminated employee receives no benefits - their share r totals revert back to the assets of the fund. .....,< Sergeant Sedrick Inade a motion that Gary J. Kolb, whose date of hire was December 8, 1986, and who resigned october 26, 1987, be removed from the list of participants and that his shares be returned to the assets of the Fund. Motion seconded by Roy May. Motion carried unanimously. ~ Sergeant Sedrick made a motion that Thomas W. Lynch, whose date of hire was May 16, 1983, and who resigned December 28, 1987, be removed from the list of participants and that his shares be returned to the assets of the Fund. Motion seconded by Donald Hibbard. Motion carried unanimously. Item #6 concerned retired police Officer John Welch, who retired from the General Employees' Pension plan with a disability pension June 12, 1986, and has since had his status changed by the General Employees' Pension Committee and the approval of the City Commission to that of job-connected disability to become effective April 15, 1987. Chairman Kaminskas explained that this has no effect on,his status in the Supplementary Pension. John Welch was paid a lump sum settlement from the Supplementary Pension and there is no difference in the monies paid as to whether the disability is on or off the job. Item #7 - Annual Report to the State of Florida police and Retirement offices, Tallahassee. Betty Ward distributed copies of the 1987 Annual Report to all board members. I ~"""""'- " I)~f"'''''''''' . , , ,lJ~';'.:<' ,,;. :.' , , , , , . . ~ .... 1'....""\ , :1 "', ~:' ".l " , Minutes of Meeting held March 30, 1988 Page: 3 Item '8 concerned investment fees, which are deducted from the assets by Florida National Bank, but do need a motion to approve. s~rg~ant Sedrick made a motion to ratify the payment of the following invoices from Florida ,National Bank - $2,570.23 for the period 7/1/87 - 9/30/87 and $2,613.90 for the period 10/1/87 - 12/31/87. Motion seconded by William Horton. Motion carried unanimously. " Item #9 concern~d a request from the Board ,to the City Attorney for assistance in amending the present Share Plan ordinance to in~lude the Police Recruit II as being eligible to participate in the Share Plan. Chairman Kaminskas informed Robert Surette that he had sent, a memorandum dated October 20, 1987 to city Attorney AI Galbraith asking that he provide assistance in making the necessary amendment to our city ordinance to' comply with a , request 'from Tallahassee - Florida Statute 185 - to include the classification of Recruit II as being eligible to participate. Captain Kaminskas stated that:he had not heard from Mr. Galbraith. Robert Surette stated. that he would begin working on this for the Board, and that 'he would send a draft of the proposed amendment to the ordinance to Captain Kaminskas so that it could be forwarded to Marvin Clayton, Bureau Chief, Police and Fire Retirement Pen~ions, Tallahassee for, approval. Item #:10 - approval of second semi-annual payment to Betty Ward for bookkeeping and secretarial services to the Board. Motion (--. was made by Donald Hibbard to approve the $500 payment to Betty \......_. Ward. Motion seconded by Roy May. Motion carr ied unanimously. r' \.,./ There being no further business, the meeting was adjourned at 10: 15 A.M. R. ~ 0 r ~ ROY MAY, Secretaty Board of Trustees BW. . "