09/30/1996 (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
September 30, 1996
1, Call to order 1, 10:53 a,m.
2. Approval of Minutes: 9/16/96 2, Approved as submitted,
3, . Request for acceptance 3. Approved.
into membership:
a) Holly Albright ~,
b} Diane Bass
'., c} James Belcher ,'.
d) Benjamin Coccia .
e) John Fellenbaum
f} Cathleen Gill
g) Peter Johnson
h~ Patricia Loblein
n Anthony Monte
j) Herbert Masse
k) Brenda Moses
0 I) Estrella Murphy
m) Craig Murray
n} ~hristopher Precious
, 01 Jana Rodenberger
p} James Wade .
q} James Walser
r) Paul Wassen
s) Marilyn Young
t} Michael Zimmerman
4. Regular Pension to be granted: 4, Approved,
Eugene T. Cavaliere
5. Regular Pension to be granted: 5. Approved.
John D. Eastridge
6, Other Business: 6. None.
7, Adjournment: 7. 10:54 a,m,
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TRUSTEES OF THE EMPLOYEES I PENSION FUND MEETING
September 30, 1996
The City Commission, meeting as the Board of Trustees of the Employees' Pension
Fund, met in regular session at City Hall, Monday, September 30, 1996 at 10:53 A,M.,
with the following members present:
Rita Garvey
J. B, Johnson
Robert Clark
. Ed Hooper
Karen Seel
Chairperson
Trustee
Trustee
Trustee
Trustee
Also Present were:
Elizabeth M, Deptula
Pamela K, Akin
Cynthia E. Goudeau
City Manager
City Attorney
City Clerk
ITEM #2 - Minutes:
f:)
Trustee Johnson moved to approve the minutes of the September 16, 1996,
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} Holly Albright
b} Diane Bass
c) James Belcher
d} Benjamin Coccia
e} John Fellenbaum
f) Cathleen Gill
g} Peter Johnson
h} Patricia Lablein
, i) Anthony Monte
j) Herbert Mosse
k) Brenda Moses
I) Estrella Murphy
m) Craig Murray
n} Christopher Precious
a} Jana Rodenberger
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mPF09b,96
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09/30/96
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p} James Wade
q) James Walser
r} Paul Wassen
s) Marilyn Young
t) Michael Zimmerman
Trustee Hooper moved to accept the recommendation of the Pension Advisory
Committee, The motion was duly seconded and carried unanimously.
ITEM #4 - ReQuest for Pension:
The City Manager presented the recommendation of the Pension Advisory
Committee that Eugene T, Cavaliere be granted a regular pension under Section(s) 2.393
and 2.397 of the Employees. Pension Plan.
Eugene T. Cavaliere was employed on April 8, 1974, and his pension service credit
is effective on that date, His retirement was effective on September 1, 1996,
f.~
Mr. Cavaliere's pension was approved by the PAC on September 12, 1996, Section
2,393 (p) provides for normal retirement eligibility when a participant has completed
twenty years of credited service in a type of employment described as "hazardous duty"
and further specifically defines service ,as a Police Officer as meeting the hazardous duty
criteria.
Based on an average salary of approximately $50,839 per year over the past five
years, the formula for computing regular pensions, and Mr, Cavaliere's selection of the
Joint & Survivor Annuity, this pension will approximate $31,278 annually.
Trustee Clark moved to accept the recommendation of the Pension Advisory
Committee, The motion was duly seconded and carried unanimously.
ITEM #5 - ReQuest for Pension:
The City Manager presented the recommendation of the Pension Advisory
Committee that John D. Eastridge be granted a regular pension under Section(s) 2,393 and
2,397 of the Employees. Pension Plan.
John D, Eastridge was employed on September 8, 1973, and his pension service
credit is effective on March 8, 1974, At the time of Mr, Eastridge's employment, pension
deductions for employees were not Immediately commenced, Subsequently, when
employees were provided an opportunity to make up pension contributions, he did not elect
to do so. His retirement will be effective on April 1, 1 997.
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09/30/96
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~ Mr. Eastridge's pension was approved by the PAC on September 12, 1996, Section
2.393 (p) provides for normal retirement eligibility when a participant. has completed
twenty years of credited service in a type of employment described as "hazardous duty"
and further specifically defines service as a Deputy Police Chief as meeting the hazardous
duty criteria.
Based on an average salary of approximately $68,440 per year over the past five
years, the formula for computing regular pensions, and Mr. Eastridge's selection of the
100% Joint & Survivor Annuity, this pension will approximate $42,613 annually.
Trustee Johnson moved to accept the recommendation of the Pension Advisory
Committee, The motion was duly seconded and carried unanimousty,
ITEM #6 - Other Business: - None,
ITEM 117. Adjournment:
The meeting adjourned at 10:54 a.m,
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ATTE!)T:'/n.~~
'. II ~ I Y Clerk
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