11/02/1995 (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
November 2, 1995
1. Call to order 1. 5:30 p.m.
2. Approval of Minutes 2. Approved as submitted.
of 10/16/95
3. Request for acceptance 3. Approved, c) deleted.
into membership:
a) Charles Clark
bl Jean Griggs
c) Joanne Lindstrom
4. Approve $8,000 expenditure for 4. Approved.
Wittner & Company to develop &
analyze an RFP for pension
administration services; to prepare
a written recommendation for the
0 Commission; and oversee &
. coordinate the transition of the
administration of the Employees'
Pension Plan to the selected
Pension Administrator
, 5. Authorize reimbursement of 5. Authorized.
$4,879.38 from Employees'
Pension Fund to the City's
General Fund for payment of
costs incurred for advertisements
of the pension referendum
question on 10/24/95
6. Other Business: 6. None.
7. Adjournment: 7. 5:33 p.m.
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Elizabeth M. Deptula
Kathy S. Rice
Pamela K. Akin
Cynthia E. Goudeau
City Manager
Deputy City Manager
City Attorney
City Clerk
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TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
November 2, 1995
The City Commission, meeting as the Board of Trustees of the Employees' Pension
Fund, met in regular session at City Hall, Thursday, November 2, 1995 at 5:30 P.M., with
the following members present:
Rita Garvey
Sue Berfield
Fred Thomas
William Justice
Chairperson
Trustee
Trustee
Trustee
Absent:
J. B. Johnson
Trustee
Also Present were:
14..~
oJ ITEM #2 - Minutes:
Trustee Thomas moved to approve the minutes of the October 16, 1995, meeting.
The motion was duly seconded and carried unanimously.
ITEM #3 - Request for Acceptance into Membership:
The City Manager presented the recommendation of the Pension Advisory
Committee to approve membership for the employee(s) listed below:
a) Charles Clark
b) Jean Griggs
c) Joanne Lindstrom
The City Attorney stated Joanne Lindstrom's name should be deleted as she has left
city employment.
. Trustee Berfield moved to accept the recommendation of the Pension Advisory
Committee to accept membership for Charles Clark and Jean Griggs. The motion was duly
seconded and carried unanimously.
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ITEM 1/4 - Approve $8.000 expenditure for Wittner & Company to develop & analyze an
RFP for pension administration services: to prepare a written recommendation for the
Commission: and oversee & coordinate the transition of the administration of the
Employees' Pension Plan to the selected Pension Administrator
Changes to the Employees' Pension Plan approved by voters on October 24, 1995
include the administration of the IRS qualified plan by a Third Party Administrator. Wittner
& Company will provide services in two phases: Phase 1 will cost $3,500 and Phase 2 will
cost $4,500. In the event the City chooses not to implement Phase 2 for any reason, the
fees for Phase 2 will not be payable. Wittner & Company's fees are "full service~' and
include no hidden charges. These expenditures will be paid for by the Employees' Pension
Fund.
In response to a question, Kathy Rice explained Phase 1 will be to write the Request
for Proposals (RFP) and to answer any questions that may arise. Phase 2 will be to
evaluate the responses to the RFP.
Trustee Justice moved to approve an $8,000 expenditure for Wittner & Company to
develop & analyze an RFP for pension administration services; to prepare' a written
recommendation for the Commission; and oversee & coordinate the transition of the
administration of the Employees' Pension Plan to the selected Pension Administrator. The
motion was duly seconded and carried unanimously.
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ITEM #5 - Authorize reimbursement of $4.879.38 from Employees' Pension Fund to the
City' S General Fund for payment of costs incurred for advertisements of the pension
referendum Question on 10/24/95
On Sunday, October 22, 1995, a full page ad ran in the St. Petersburg Times
($2,699.97) and the Tampa Tribune 1$765.56). On Monday, October 23, 1995, a half
page ad ran in the same newspapers ($1,030.07 & $383.78 respectively).
The total amount, $4,879.38, was paid from the General Fund. The General Fund
should be reimbursed for this expenditure from the Employees' Pension Fund.
Trustee Berfield moved to authorize reimbursement of $4,879.38 from the
Employees' Pension Fund to the City's General Fund for payment of costs incurred for
advertisements of the pension referendum question on 10/24/95. The motion was duly
seconded and carried unanimously.
ITEM #6 - Other Business: ~ None.
ITEM #7 - Adjournment: - 5:33 p.m.
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mPF11 a.95 City Clerk
2
11/02/95