11/03/1997 (2)
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PENSION
(TRUSTEES)
Bo'ard of Trustees of the Employees'
Pension Fund
Minutes
Date
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ACTION AGENDA
Board of Trustees of the Employees' Pension Fund
November 3, 1997
1. Call to order 1. 9:00 a.m.
2. Approval of Minutes: 9/29/97 2. Approved as submitted.
3. Request for acceptance 3. Approved.
into membership:
a) Todd Kuhnel
b) Levi Oatley
c) Stephen Fjnney
d) Isaac Hinson
e) Diane Bennett
f) Brian Sweeney
g) Kathy Wight
4. Regular Pensions to be granted: 4. Approved.
Elizabeth M. Deptula
Donald W. Andrus
0 John W. Rooks, Jr.
Jerry Karlik
5. Pension to be vested: Brian T. 5. Approved.
Cullen
6. Other Business: 6. None.
7. Adjournment: 7. 9:02 a.m.
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TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
CITY OF CLEARWATER
November 3, 1997
, Present:
Rita Garvey
J. B. Johnson
Robert Clark
Ed Hooper
Karen Seel
Michael J. Roberto
Pamela K. Akin
Cynthia E. Goudeau
Patricia O. Sullivan
Chair
Trustee
Trustee
Trustee
Trustee
City Manager
City Attorney
City Clerk '
Board Reporter
The Chair called the meeting to order at 9:00 a.m. at City Hall.
To provide continuity for research, items are in agenda order although not necessarily
discussed In that order.
ITEM #2 ~ Approval of Minutes
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Trustee Hooper moved to approve the minutes of the September 29, 1997,
meeting, as recorded and submitted in written summation by the City Clerk to each
Trustee. The motion was duly seconded and carried unanimously.
ITEM #3 ~ 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) Todd Kuhnel
b) Levi Oatley
c) Stephen Finney
d) Isaac Hinson
e) Diane Bennett
fl Brian Sweeney
g) Kathy Wight
Trustee Johnson moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
ITEM #4 - Reauest for Pension:
The City Manager presented the recommendation of the Pension Advisory
Committee that Elizabeth M. Deptula, Donald W. Andrus, John W. Rooks, Jr., and Jerry
Karlik be granted regular pensions under Sectionls) 2.393 and 2.397 of the Employees'
Pension Plan.
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~ Elizabeth M. Deptula was employed on January 17, 1977, and her pension service
credit is effective July 30, 1977. Her pension will be effective on March 1, 1998.
Based on an average salary of approximately $81,990 per year over tho post flvo
years, the formula for computing regular pensions, and Ms. Deptula's selection of tho Joint
& Survivor Annuity, this pension will approximate $46,379 annually.
Donald W. Andrus was employed on August 31, 1970, and his pension sorvlco
credit is effective on that date. His retirement will be effective on January 1, 1999.
Based on an average salary of approximately $37,319 per year over the past flvD
years, the formula for computing regular pensions, and Mr. Andrus' selection of tho JoInt &
Survivor Annuity, this pension will approximate $29,058 annually.
John W. Rooks, Jr. was employed on February 14, 1977, and his pension sorvlco
credit is effective on that date. His retirement will be effective on May 1, 1998.
Based on an average salary of approximately $44,931 per year over the past flvo
years, the formula for computing regular pensions, and Mr. Rooks' selection of the 100%
Joint & Survivor Annuity, this pension will approximate $25,691 annually.
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Ms. Deptula's, Mr. Andrus', and Mr. Rooks' pensions were approved by the PAC on
October 9, 1997. Section 2.393 (p) provides for normal retirement eligibility when a
participant has reached age 55 and has completed twenty years of credited service or has
completed thirty years of credited service. Ms. Deptula, Mr. Andrus, and Mr. Rooks qualify
under the age 55 and twenty years of service criteria.
Jerry Karlik was employed on October 24, 1 977, and his pension service credit is
effective on that date. His retirement will be effective on March 1, 1998.
Mr. Karlik's pension was approved by the PAC on October 9, 1997. Based on an
average salary of approximately $40,184 per year over the past five years, the formula for
computing regular pensions, and Mr. Karlik's selection of the 100% Joint & Survivor
Annuity, this pension will approximate $22,122 annually
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. Mr. Karlik qualifies under the hazardous duty criteria.
Trustee Clark moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
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ATTEST: 00~ Z ~.1Ju.
City Clerk '
. ITEM #5 - Reauest to Vest Pension:
The City Manager presented the recommendation of the Pension Advisory
Committee that Brian T. Cullen be allowed to vest his pension under Section(s) 2.397 and
2.398 of the Employees' Pension Plan.
Brian T. Cullen was employed on July 28, 1975, and his pension service credit is
effective on that date. Mr. Cullen resigned effective September 26, 1997. As of his
resignation, Mr. Cullen had approximately 22 years of service and pension participation.
The Employees' Pension Plan provides that should an employee cease to be an
employee of the City of Clearwater after completing 10 or more years of creditable service
(pension participation), then such employee shall acquire a vested interest in the retirement
benefits. Vested pension payments commence at the time the employee normally would
have been eligible for retirement. Mr. Cullen would have completed 30 years of service on
July 27 r 2005. His request to vest his pension was approved by the PAC on October 9,
1997, and will be effective August 1, 2005.
Trustee Johnson moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
ITEM #6 - Other Business - None.
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ITEM #7 - Adjournment:
The meeting adjourned at 9:02 a.m.
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