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08/29/1988 .... .' ~ ,; J ., ,: I ,. .'. " ,( ~;1*t(i,!;;\(:\,,::;"':~:' ':' '" 'I. ",",1',,""':"':'" ":'::~",:: ". ("~Y.';;:{>:',,)'.",;::\:,~~;:~} " ~~" ,,' ,';,) , . I ~;. " ". . '.,' <l ' ~ L " ">fl \' .. 'j" ' ~.i :" '1;", , ", .l ./: ,. ~ . " ~~ ,: .; . , . l> <t ,; ;, ";';. .:"', ,- ~~SL",.,~,,,:::~,~":, " ." ...., , , '\, : '. '" '" ': , IC,_., i : ,.' . . I, ~,~ ~~ ,.... ~ -,oj, -:-^ ":.; " 'I", .,. \, '"t . ~ .,. '~_........~ .' '. POLICE SUPPLEMENTARY .) 'PENSION Minutes ',' DATE lIt/f~sr rJ J 1'" " Ssy " , " ,t' : . ,'l '.t..' C I . ,~ . ~~;~1~,Yc;;e;\(?s\.r:n"',':::f'~"':"~:';;~','" .": ;........ '>; . '."" . , " .. :":,1" ': ';~':} ':'j:, : ':, " ";: '/':,..,;:<}:'::i:.'i::";', :....1:::::;::;;';::"~~~7:~::'::..::~~ " '. ~. :: .', I, . :,:'; '.: c.....,. ~:.. ' , " .". '. ".c " ". . f I :t,.~: ': . i .. '. '4 , ' ~::c . . t ~. ~,.' ,.\ . , ,/:, ,:' ~,,' '.;.~!;;',~, ." .':,,',,':. .," (,\.: . ' I . , . ' , . I, ~ "',' I . :;: .,1 ~: < ' .' .' ..f, '. . . C ~. ' ,', " !.: J' ('.' ,... .... .I' .~.. ~:' . "'. I \: \ .. . i' "~ '. > . ~t;~~~}~~\'"l;;)itf.!;=ft~~1?,{"i~1~~t~$ri~~"/\.r~~.""'_~,,,'~ ... ,. " r '., f> '. , , , ,. ,. .,_.r'~oI.~tn/.' ,,'O\~",',,:,., '~'If~., ...." ...."'. ......'..._. ': :t",~;-'"H I J n ,,::<r .' ...~.. ~ " .: '. . '" C '." . \'l~ : ~... ""':rIf.'$' l' AGENDA CLBARWATER POLICE SUPPLEMENTARY ~ENSION FUND Meeting of August 29, 1988 B:30,A.M. ..: '1~ Approval of Minutes of Meeting held July 6, 1988. 2. Approval of payment of $166.66 to Cindy Hicks for secretarial/bookkeeping duties for the months of August and September 1988. ,\, 3. , ' Approval of invoice from Florida National 'Bank for fee for the period of 4/1/88 to 6/30/88 in the amount of $2,573.77. . " , . 4. Notice of deposit of State monies into the fund in,the ,amount of $500,757.35 on July 21, 1988. , . "- 5. Approval of Proposed Beneficiary Form. 6. Progress Report on Amendment to the City Ordinance. 7. ,Discussion on Upcoming Vacancies on the Board. ,- - .r I'. , ,,, 8. Discussion on Proposed verification of Eligibility Date' Form. .1.., ., " 9. Correspondence from Bill Gunter. , ' , , 10. Distribution of monthly financial reports 'from Florida National Bank for the months of June and July. ,11. Other business. ,. ':~ ~ .. .~ AS, Chalrman Trustees \ : '-" .' " :.., '"..:. ", -,~'~,~:"':::~::~~:;':~'~i~.' .." ':~"':~~',':~-.; , "> 4-. r... .~".....~~... ~"'K""""",Ilj,.... \.......t'...~t..LJ.l.lt.....,~J.h,!..Ju... I ...~,....: . :'1"': .. .. . ~ " .\ , L\:" \"'\.' t:' .' ,_';'. ~,,"'-t" ":li,:.~. '1>'. i'",,; ~,{\',;,:,':',_(;.:'?,:::,..;,:.'::,V:,/:'",~,,~,,;~':.;': ,;,~": ':i:~:( :~: ~;::: \:,.::; ",. ' ,;: '>. ,,':"", '....' '\' ,;;,,:.~;>:,: ..~ <::.': ,!':, ~ "..', .'~:.-..;' ,","'.:..1," "..I~,'" 't.",!,!:.,:,/',':.r:,,:::i,,:,:,',';::~> '.....'" ~ j".<" . . . " ~ C ~ ..>: .." f,f.;.I<,W, _"'C" . ' '.~;.~~.~~' I, c;.. ~ ' . . .~ " " " ' ~ , ( " i' "I . ", , , -..:.-.' , ' ..' . ,,' "! , , '! ' :.:J. c," :"\1 :~: " .. ,~': \j';':" J' ,: .... " .' ',t '. ~ ' \'::' , " ;, . ~ ' . : "'-'" !,". L'> " ".,. .., i,':', .... ":,;'1,1 ".. , /~, t., ~ ~. : . . ' ~: - CLEARWATER POLICE SUPPLEMENTARY PENSION MINUTES OF MEETING HELD AUGUST 29, 1988 6:30 A.M. A meeting of the Board of Trustees was held on August 29, 1988 in the second, floor Conference Room of Police Headquarters, 644 Pierce street, Clearwater, Florida. The following Trustees were present: Captain Ray Kamlnskas, Chairman Sergeant William Sedrick, 'Vice-Chairman Roy May, Secretary William Horton, Trustee Donald Hibbard, Trustee Als~ pre~ent was Assistant city Attorney Miles Lance, Pollce Legal Advisor. Cindy HiCks, Secretary to Assistant Police Chief Ed Desmarais, was present and recorded the mlnutes. ,captain Kaminskas called the meeting to order at 8:'30 A.H. The first item on 'the agenda was the approval of the minutes of the meeting held July 6, 1988. Don Hibbard made a motion that the minutes be approved. Motion seconded by William Horton. Motion carried unanimously. ltE~m #2 'on the agenda was approval of payment of $166.66 to Cindy hicks for secretarial/bookkeeping duties for the months of August and September 1988. William Hort6n made a motion that the payment be. approved. Motion seconded by Don Hibbard. Hotion carried unanimously. Item #3 on the, agenda was approval of payment of invoice from Florida National Bank for their fee for the period of 4-1-88 to 6-30-88 In the amount of $2,573.77. Sergeant'Sedrick made a motion that the payment be approved. Motion seconded by Roy May. Motion carried unanimously. . Item ff4 on the agenda was a report that state monIes in the arn6unt of $500,757.35 for supplementary pension had be~n received and deposited into the account at Fortune Federal. Item #5 on the agenda was the approval of the proposed beneficiary form. Miles Lance explained the revisions he had made to the form and so that any payments made'due to the death of an officer would not have to go through probate, regardless of , ,:/;,,'r<:,;,;:,:,,:,:'::::L'; . ~ \::.: . I":' ;,' ~I' ; ,;: :;, ,::::~;}" />:::~:::,:: ;,':,::, ii,';, "~':~ \'..i::'~+/;:~';::lh\;(,~',;:;}).';:.:::<' ':' //,(::~,/;, :;::; . . , '" t" I ,.,~.. ,..,~ ,\... ",~. I "'.~" ...., :.', ,i .' .~ ::' ':"l ; " .l. '. ~ ' " I , ~ I. ;~~~I~;}t:,~, i ',' , ' , ~ft~,~, ' '.\c~l , " r") , ,c ~; ) th~ employee's will. A motion was made to approved the revised' beneficiary form by william Horton., Seconded by Sergeant Sedrick. Motion passed unanimously. OJ ' Item *6 on the agenda was^ proposed amendment to the city ordinance. The revisions include clarification of the term "police offlcerll (due to the recruit 1 classification) in Section 1 (g);, Section 2 (a) prorating th~ shares on a daily basis; 'and Section 3 (b) requiring corporate bonds to meet the standards required by Florida statute, Chapter 185. captain'Kaminskas' advised the Board that with,their approval, he would prepare the proper agenda form to have the proposal submitted to the City Commission for approval at their september 12th'meeting. captain Kaminskas !Jas ,author ized to proceed. ' ~''''- Item H7 on the agenda concerned the upcoming vacancies caused by the terms of office expiring for Trustees Roy May and Don, Hibbard, !Jhich expire on 09-18-88 and Captain Kaminskas and Sergeant Sedrick, ~hose terms expile on 10-16-88. Mr. May and Mr. Hibbard agreed to serve on the 'Board for two more years. captain Kaminskas advised the Board that he !Jould prepare an agenda item for the City Commission recommending that they be re- appointed to the Board. Captain Kaminskas advised the Boald that he would like to step down when his present term expires, if an Interestedofficer will agree to run for the position. Toward that end, he advised the Board that he will contact F.O.P. president E~ Griffin about surveying the membership regarding their interest in running. Sergeant Sedrick said that if a replacement can be found to run in captain Kaminskas' place, he will a150 run again, 50 that there will only be one new member. In' the meantime, a memorandum !Jill be prepared for members advising them that the terms of office for captain Kaminskas and Sergeant Sedrick are expiring and scheduling a deadline and meeting for acceptinq nominations for the two positions. Item K8 was a proposed form to verify eligibility dates for members of the share plan. Miles Lance told the Board that he felt the form !Jas a good idea since it would show that the member agreed !Jlth the certification date being used by the Board to determine number of shares. The Board agreed unanimously. Item >>9 was correspondence received from Bill Gunter regarding insurance co,:,"erage for banks handling "public" money. 'captain Kaminskas advised the Board that he had contacted Mr. Gunter's office and determined that the information did not apply to our account. '"-,, ( Item Ul0 on the agenda wag the distIibution of the monthly financial reports from Florida National Bank. Each member of the Board received a copy of the reports for the months of June and July. .':, . '. ~" ," "', .1' < +.,: ~ . ,. <'c . I -.. '..; .: ,. ,~ . "1'. " , : :',:, t:"';.':,;l/?:,.f; 'i,.;{:~~!{~"? :,,':,; 1<-:,: ..~': ',., '1",'; ,-":'>', " 'i," ,F . J" .. I'". ' ,I, ~ ." '~. ), '. '. " , , .' "~ . J I' l ,I . \ : " ~ , .,,~ . . :,f. . c', t\J""I, ",c", I.. ,1. r '.: " . ~-t';~~~~<~;P: ~';,,;-,:....t'~ "~.... "~".Jo . ~ _,. .... "f .,'., : ','.I ," ,I f~ .'.,::'U!" Item *11 on the agenda was other business. ,Captain Kaminskas suggested to the Board that a plague and flowers be ordered to commend Detty Ward for, her many years of service to the Board. Miles Lance sa Id tha t as far as, the money was cO,ncerned, if the ordInance vas written including "administrativell costs, there was no problem. He vas advised by' captain Kaminskas the ordinance does have such aseetion and money has been' used in,the past for per diem payments, monthly fees for the money managers, 'etc. ' Hiles Lance said there was no reason why money could not be ,used for a plaque and flowers. sergeant Sidrick agreed to compose the wording for the plaque. Motion vas made by Sergeant ,Sedrlck topu~chase a plaque and flowers for Betty Ward. Motion seconded by William Horton. Motion passed unanimously. ",.,.'\ , . , , "'-, " Undet other busineoo, Sergeant Sedrlck brought up the fact that in 1989 the Board will be required to have th~ money managers evatuated as to effectiveness and capabilIties: Captain Kamlnskas ~dvlsed that he ha~ received numerous letters from investment counselors, 'money managers, etc., requesting to, evaluate our present managers. A" discusei'on was held regarding the evaluation. It' vas unanimously agreed that when the time ,draws closer, Inter'ested parties 'will be invited to present a . proposal to the 'Board and the present money managers (Florida National Bank) will be invited to attend these meetings 'a~d hear the proposals. There being no other business, the meeting was adjourn~d at 9:25 A.M. ,'R ~ 'rq-~ Roy Mfy, Secretary Board bf Trustees , ~ , , ; <; ~'-w....... > . ~,' . :, . ~ " .