02/02/1998 (2)
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PENSION
. . (TRUSTEES)
'" Board of Trustees of the Employe,cs'
Pension Fund
Minutes
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ACTION AGENDA
,Board of Trustees of the Employees' Pension Fund,
February 2, 1 998
1. Call to order 1. 9:03 a.m.
2. Approval of Minutes: 1/12/98 2. Approved as submitted.
3. Request for acceptance 3. Approved.
into membership:
,a) Reina Carbajal ,
b) Jennifer Gross
c) Agustin Menchaca
d) Philip Ruppel
4. ' Regular Pensions to be granted: 4. Approved.
Jessie Bell
'Joseph Arecco
George Tucker
"Q 5. Other Business: 5. None.
6. . Adjournment: 6. 9:04 a.m.
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Absent:
Rita Garvey
Chair
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TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
CITY OF CLEARWATER
February 2, 1998
Present:
J. B. Johnson
Robert Clark
Ed Hooper
Karen Seal
Michael J. Roberto
Pamela K. Akin
Cynthia E. Goudeau
Brenda Moses
Vice-Chair /Trustee
Trustee
Trustee
Trustee
City Manager
City Attorney
City Clerk
Board Reporter
The Vice-Chair called the meeting to order at 9:03 a.m. at City Hall.
To provide continuity for research, items are in agenda order although not necessarily
discussed in that order.
ITEM #2 - Aooroval of Minutes
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Truste') Hooper moved to approve the minutes of the January 1 2, 1998, meeting,
as recorded and submitted in written summation by the City Clerk to each Trustee. The
motion was duty seconded and carried unanimously.
ITEM #3 - Reouest for Acceotance into Membershin:
The City Manager presented the recommendation of the Pension Advisory
Committee to approve membership for the employee(s) listed below:
a) Reina Carbajal
b) Jennifer Gross
c) Agustin Menchaca
d) Philip Ruppel
, Trustee SeeJ moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
ITEM #4 - Reouest for Pension:
The City Manager presented the recommendation of the Pension Advisory
Committee that Jessie Bell, Joseph Aracco, and George Tucker be granted regular pensions
under Section(s) 2.393 and 2.397 of the Employees. Pension Plan.
Jessie Bell was employed on April 5, 1967, and his pension service credit is
effective that date. His pension will be effective on February 1, 1998.
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Based on an average salary of approximately $29,126 per year over the past five
years, the formula for computing regular pensions, and Mr. Bell's selection of the Joint and
, Survivor Annuity, this pension will approximate $24,625 annually.
Jopseph Arecco was employed on April 3, 1978, and his pension service credit is
, effective that date. His retirement will be effective on May 1, 1998. ,
Based on an average salary of approximately $37,079 per year over the past five
years, the formula for computing regular pensions, and Mr. Arecco's selection of the 100%
Joint and Survivor Annuity, this pension will approximate $19,812 annually.
George Tucker was employed on February 20, 1968, and his pension service credit
,is effective that date. His retirement will be effective on March 1, 1998.
Based on an average salary of approximately $31,095 per year over the past five
years, the formula for computing regular pensions, and Mr. Tucker's selection of the Joint
and Survivor Annuity, this pension will approximate $25,656 annually.
Trustee Seel moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
ITEM #5 ~ Other Business - None.
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ITEM #6 - Adiournment:
The meeting adjourned at 9:04 a.m.
ATTEST:
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