08/14/1995 (2)
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PENSION
(TRUSTEES)
Board of Trustees of the Employees'
Pension Fund
Minutes
Date
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ACTION AGENDA
Board of Trustees of the Employees' Pension Fund
August 14, 1995
1. Call to order 1. 1 :22 p.m.
2. Approval of Minutes 2. Approved as submitted.
of 7/17/95
3. Request for acceptance 3. Approved.
into membership:
a) David Bell
b} Crystal Brandon
c) Christine Brown
d) Patricia Cooke
e) Vicki Dettenwanger
f) Cindy Jones
g) Don McCarty
h) Gene Repetowski
i) Jean Ross
j) Robert Testa
0, k) William Wilson
4. Regular Pension to be granted: 4. Granted.
Jesse J. Dawsey
5. Other Business: 5. None.
6. Adjournment: 6. 1 :23 p.m.
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TRUSTEES OF THE EMPLOYEESt PENSION FUND MEETING
August 14, 1995
The City Commission, meeting as the Board of Trustees of the Employees' Pension
Fund,' met in regular session at City Hall, Monday, August 14, 1995 at 1 :22 P.M., with the
following members present:
Rita Garvey
Sue Berfield
Fred Thomas
J. B. Johnson
William Justice
Chairperson
Trustee
Trustee
Trustee
Trustee
Also Present were:
Elizabeth M. Deptula
Pamela K. Akin
Cynthia E. Goudeau
City Manager
City Attorney,
City Clerk
ITEM 112 . Minutes:
Trustee Thomas moved to approve the minutes of the July 17, 1995, meeting. The
motion was duly seconded and carried unanimously.
(:;)
ITEM 113 - Reauest for Acceotance into Membership:
The City Manager presented the recommendation of the Pension Advisory
Committee to approve membership for the employee(s) listed below:
a) David Bell
b) Crystal Brandon
c) Christine Brown
d) Patricia Cooke
e) Vicki Dettenwanger
f) Cindy Jones
g) Don McCarty
h) Gene Repetowski
i) Jean Ross
j) Robert Testa
k) William Wilson
Trustee Thomas moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
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1
8/14/95
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ITEM #4 - Reauest for Pension:
The City Manager presented the recommendation of the Pension Advisory
Committee that Jesse J. Dawsey be granted a regular pension under Section 2.396 of the
Employees' Pension Plan.
Jesse J. Dawsey was employed on September 19, 1961, and began participating in
the Pension Plan on that date. His retirement will be effective on July 1, 1995, at the
beginning of the day.
Mr. Dawsey's pension was approved by the PAC at its meeting of July 19, 1995.
Based on an average salary of approximately $33,532 over the past five years and
the formula for computing regular pensions, this pension will approximate $28,335
annually. Charts from Finance which take into consideration mortality rates and age reflect
the "present value cost of financing" this pension will be approximately $330,373. The
estimated pension cost (cash payout over the life of the pensioner and his spouse) is
$651,702.
Trustee Thomas moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
ITEM #5 - Other Business: - None.
ITEM #6 - Adiournment:
The meeting adjourned at 1 :23 p.m.
ATTEST'%'-\L~. Ii.
, 'City Clerk
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