04/13/1998 (2)
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PENSION.
(TRUSTEES)
. Board of Trustees of the Employees'
Pension Fund
Minutes
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ACTION AGENDA
. Board of Trustees of the Employees' ,Pension Fund
April 13, 1998
1. . , Call to order 1. 1:~ 5'p.m.
2. Approval of Minutes: 3/16/98 2. Approved as submitted.
3. Request for acceptance 3. Approved. .
into mem~orship:
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" a) Rober(F. Guerda
b} Keith Downs
c) Karl Pople
d) Teresa Mancini
4., , Regular Pensions to be granted: 4. Approved. I
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James E. Goodloe I
Sylvester Parker )
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5. Pension to be vested: Sidney 5. Approved. 1
Roberts I
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6. Other Business: a) Request to file 6. a) Approved.
interpleader action In circuit court
re release of pension fund moneys
of Dennis Thurston
7. .' Adjournment: 7. 1 :20 p.m,
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TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
CITY OF CLEARWATER
April 1 3, 1998
Present:
Rita G orvey
J. B. Johnson
Robert Clark
Ed Hooper
Karen Seel
Michael J. Roberto
Pamela K. Akin
Cynthia E. Goudeau
Brenda Moses
Chair
Trustee
Trustee
Trustee
Trustee
C,ity Manager
City Attorney
City Clerk
Board Reporter
The Chair called the meeting to order at 1 :15 p,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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Trustee Johnson moved to approve the minutes of the March 16, 1998, 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 Acceptance into Membership:
, The City Manager presented the recommendation of the Pension Advisory
Committee to approve membership for the employee(sl listed below:
a) Robert F. Guercia
b) Keith Downs
cJ Karl Pople
d) Teresa Mancini
Trustee Hooper 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 James E. Goodloe and Sylvester Parker be granted regular pensions under
Section{s)' 2,393 and 2.397 of the Employees' Pension Plan.
James Goodloe was employed on May 19, 1975, and his pension service credit is
effective November 17; 1975, His pension will be effective on April 1, 1998.
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Based on an average salary of approximately $ 52,4 79 per year over the past five
years, the formula for computing regular pensions, and Mr. Goodloe's selection of the 75%
Joint & Survivor Annuity, this pension will approximate $32,365 annually,
Sylvester Parker was employed on June 28, 1967, and his pension service credit is
effective that date. His pension will be effective on July 1, 1998.
Based on an average salary of approximately $33,187 per year over the past five
years, the formula for computing regular pensions, and Mr. Parker's selection of the 100%
Joint & Survivor Annuity, this pension will approximate $ 27.549 annually,
Mr. Goodloe's and Mr, Parker's pensions were approved by the PAC on March 12,
1998. 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 Fire Marshal as meeting the
hazardous duty criteria. Mr. Goodloe qualifies under the hazardous duty criteria. Section
2.393 (p) also provide for normal retirement eligibility when a participant has reached age
55 and completed twenty years of credited service or has completed 30 years of credited
service. Mr, Parker qualifies under both criteria.
Trustee Hooper moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
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ITEM #5 ~ Reauest to Vest Pension:
The City Manager presented the recommendation of the Pension Advisory
Committee that Sidney Roberts be allowed to vest his pension under Section(s) 2.397 and
2.398 of the Employees' Pension Plan.
Sidney Roberts was employed on December 18, 1972, and his pension service
credit is effective on that date. His pension will be effective on April 1, 2001.
The Employee's Pension Plan provides that should an employee cease to be an
employee of the City of Clearwater after completing ten 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. Roberts would have completed at least twenty years
of service and reached age 55 on March 10, 2001. His request to vest his pension was
approved by the PAC on March 12, 1998, and will be effective April 1. 2001.
Trustee Johnson moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
ITEM #6 - Other Business
a) Request to fHe interpleader action in circuit court re release of pension fund moneys of
Dennis Thurston
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Patrick Esposito, who is recognized by the Social Security Administration as the
guardian of. Joshua Thurston (a disabled minor), has requested the release of pension fund
. moneys which may be due to Joshua Thurston, as a result of the death of Joshua's father
in 1993, former City employee Dennis Thurston. Deborah Thurston, Joshua's mother, has
also since passed away.
. Concern was expressed regarding reimbursing the City Attorney's costs for work
performed for the Pension Plan. This will be brought forward in the future.
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. Trustee Hooper moved to approve filing an interpleader action in circuit court to
determine the amount and payee for the pension fund moneys of Dennis Thurston. The
motion was duly seconded and carried unanimously.
ITEM #7 - Adiournment:
The meeting adjourned at. 1 :20 p.m.
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.ATTEST:;~
'.' i,' ".', t City Clerk
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.04/13/98