01/31/1989
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POLICE
SUPPLEMENTARY
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PENSION
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A. G EN DA
CLEARWATER POLICE SUPPLEMENTARY PENSION FUND
Meeting of January 31, 1989
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1." Approval of, the Minutes of the meeting held on December 5,
1988.
Ratification of ,the Payment of $46,191.03 to James J. Weber
for. his Share . Value effec~!ve on his retirement date 6f
December 2, 1988 (end of day).
3;:, Approval of the request of Dennis L. Babin! for his Share
'~alues on the effective date of his' retirement on Di5~bility'
Pension {end of day February 23, 1989).
2.
4.
Approval of the request
. Values. on' the e ffecti ve
January 31, 1989.
of John H. McNeilly for his Share
day of his retirement, end of day,
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5.
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Distribution of Monthly
National Bank for the
December. 1988.: ,
Financial
months of
RepOl:t
october,
from Florida
November and
6. Appxoval of the entry of five (5) officers into the
Supplementary pension Plan.
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7.
other business.
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WILLIA~~ SED CK, Chairman
Board of Trustees
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CLEARWATER POLICE SUPPLEMENTARY PENSION
MINUTES OF MEETING HELD JANUARY 31. 1989
9:00 A.M.
A meeting of the Board of Trustees was held on January 31, 1989
at 9:00 A.M. 1n the second floor conference room of Police
Headquarters, 644 Pierce street, Clearwater, Florida.
The foiiowlng trustees were present:
Sergeant William Sedrick, Chairman
Roy Hay, Vice-Chairman
Donald Hibbard, Trustee
William Horton, Trustee
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Cindy HIcks, secretary to Deputy Chief Desmarais
was present to record the minutes
Miles Lance, Assistant City Attorney and
Pollee Legal Advisor, ,. and John Dean, Secretary
were not present.
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chairman Sedrlck called the meeting to order at 9:00 A.M.
first item on the agenda was approval of the minutes
meeting held on Decem~er 5, 1988. Motion was made by Bill
that the minutes be approved. Seconded by Don Hibbard.
carried unanimously.
The
of the
Horton
Motion
Item #2 on the agenda was ratification of the payment of
$46,191.03 to James J. Weber for his share value effective on his
retirement date of December 2, 1968 (end of day). Motion to
ratify the payment was made by Don Hibbard. Seconded by Roy May.
Motion carried unanimously.
,
'Item #3 on the agenda was approval of the request of Dennis L.
Babin1 for his share values on the effective date of his
retirement on disability pension (end of day February 23,
1969). Motion to approve the request for share values for Dennis
L. Babinl on his disability' retiremelLt date of February 23, 1989
was made by Roy May. Seconded by Don Hibbard. Motion carried
unanimously.
Item #4 on the agenda was approval of the request of John H.
McNeilly for his share values on the effective date of his
retirement (end of day" January 31, 1989). Motion made to
approve the request for share values upon the effective date of
retirement for John H. McNeilly, January 31, 1969 - end of day,
was made by Bill Horton. Motion seconded by Don Hibbard. Motion
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Minutes
Clearwater Police Supplementary
Pension Plan
Page 2
carried unanimously.'
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Item US on the agenda concerned the distribution of the monthly
ftnanc!al reports from Florida National Bank for the months of
October, November and December 1988. Receipt of these reports
. was noted ',by members of the I)oard.
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Item'36 was approval of the entry of five (5) offlcers into the
supplementary pension plan. The new members are:
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Jeffery H. Clark
Gerard V. Raba5ca
Mark.J. Sena
Ross H. Smith
Jon W~ TenBieg
12-21-88
12-21-88
12-21-68
12-21-88
12-21-88
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(Date of 12-21-88 ls the date the above officers
graduated from the Police Academy and were promoted tq
the rank of Recruit II.) \
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A motion to approve their entry into the plan was made by Bill
Horton; Motion seconded by Roy May ~nd carried unanlmously.
Item na on the agenda was other business. Chairman Sedrick
shared with Board members a'letter that had been received from
Tom Wooten, Chief, Bureau of Local Retirement Systems. The
subject of the letter was "limitation of benefits," reference
the amendment to Florida statute 112.65. Chairman Sedrlck
explained that this amendment does not apply to our plan.
Chairman Sedrick acknowledged receipt of a check for $54.01 from
the Board as reimbursement for expenditures made for the flowers
and plaque presented to Betty Ward upon her departure as
recording secretary/bookkeeper.
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.chairman Sedlick advised the members of the Board that he had
re6elved correspondence from Florida National Bank advising that
a new' money man~ger has been appointed. His name is Dennis
Gaines IJho is entitled "account relationship officer." Chairman
Sedrlck suggested that Mr. Gaines be invi~ed to attend the next
meeting.of the Board. It lJa~ agreed by members' present to
contact Mr.' Gaines reference attendance at the next meeting.
Chairman ~edrldk advised members that he had met with Angela
Sessler (Southeastern Advisory Services) regarding the upcoming
evalllatlon of the investment counselors to get an idea of what
they. do, and what it would cost. she felt that it would cost
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Mtnutes
Clearwater golice Supplementary
Penslon Plan'
Page 3
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approximately .i,soo, per year (which would include quarterly
'reports). Chairman Sedrick suggested that the, number of"
'companies. 'to be invi ted to make presentations be reduced to .
.~hree. After discussion, i~ was agreed by members present to
.limit the number to th~ee, as long' as they were businesses
located In the state of Florida"(or with a 'branch in Florida).
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Ther~ being ria further business,
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William Sedrlck,. chalrman'
for John Dean,' Secretary
the meeting was adjourned at
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