05/04/1998 (2)
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. PENSION
.(TRUSTEES)
Board of Trustees of the Employe~s'
Pension Fund
Minutes
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ACTION AGENDA
. Boord'ofTrustees of the Employees' Pension Fund
May 4, 1998
1. Call to order
,2. Approval of Minutes: 4/13/98
3. Requestfora~ceptance
into membership:,
a) C~theri~e Ippolito
b} Gary Sheftal
c) Karma Killian
d) Laura 0' Amico
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4. Regular Pensions to be granted:
. Richard Jones
Calvin Mitchum
William ZeUner
Jasper Campbell
'0 5. Other Business:
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1. 9:00 a.m.
2. Approved as submitted.
. 3. Approved.
4., Approved.
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5. Ouestion raised regarding how the
'overpayment to City retiree, Thomas
Pearson, discussed at the 4/9/98 PAC
Meeting, occurred. Staff to respond.
,6.,
Adjournment:
6. 9:03 a.m.
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TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
CITY OF CLEARWATER
May 4, 1998
Present:
Rita Garvey
Ed Hooper
, J. B. Johnson
Robert Clark
Karen Seel
Michael J. Roberto
Pamela K. Akin
Mary K. Diana
Brenda Moses
Chair
Vice-Chair/Trustee
Trustee
Trustee
Trustee
City Manager
City Attorney
Assistant 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 - Aooroval of Minutes
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Trustee Hooper moved to approve the minutes of the April 13, 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 - ReQuest for Acceotance into Membp.rshio:
The City Manager presented the recommendation of the Pension Advisory
Committee to approve membership for the employee(s) listed below:
a) Catherine Ippolito
bl Gary Sheftel
c) Karma Killian
d) Laura D'Amico
Trustee Johnson 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 Richard Jones, Calvin Mitchum, William ZeHner, and Jasper Campbell be
granted regular pensions under Section(s) 2.393 and 2.397 of the Employees' Pension
Plan.
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mpf0598
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05/04/98
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Richard Jones was employed on July 9, 1970, and his pension service credit is
effective that date. His pension will be effective on May 1, 1999.
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Based on an average salary of approximately $39,483 per year over the past five
years, the formula for computing regular pensions, and Mr. Jones' selection of the 100%
Joint & Survivor Annuity, this pension will approximate $29,846 annually.
Calvin Mitchum was employed on October 3, 1966, and his pension service credit is
effective April 3, 1967. His pension will be effective on May 1, 1998.
Based on an average salary of approximately $42,055 per year over the past five
years, the formula for computing regular pensions, and Mr. Mitchum's selection of the
Joint & Survivor Annuity, this pension will approximate $36,035 annually.
William Zellner was employed on May 21, 1973, and his pension service credit is
effective November 21, 1973. His pension will be effective on June 1, 1998.
Based on an average salary of approximately $38,028 per year over the past five
years, the formula for computing regular pensions, and Mr. Zellner's selection of the Joint
& Survivor Annuity, this pension will approximate $25,563 annually.
Jasper Campbell was employed on December 17, 1973, and his pension service
credit is effective June 29, 1974. His pension will be effective on April 1, 1998.
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Based on an average salary of approximately $40,641 per year over the past five
years, the formula for computing regular pensIons, and Mr. Campbell's selection of the
50% Joint & Survivor Annuity, this pension will approximate $26,583 annually
Mr. Jones, Mr. Mitchum, Mr. Zellner, and Mr. Campbell's pensions were approved
by the PAC on April 9, 1998. Section 2.393 (p) provides for normal retirement eligibility
when a participant has reached age 55 and completed twenty years of credited service or
has completed thirty years of credited service. Mr. Jones and Mr. Zellner qualify under the
age 55 and 20 years of service criteria. Mr. Mitchum qualifies under both criteria.
Section 2.393 (pI also 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 Firefighter as meeting the
hazardous duty criteria. Mr. Campbell qualifies under the hazardous duty criteria.
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Trustee Hooper moved to accept the recommendation of the Pension Advisory
Committee. The motron was dUly seconded and carried unanimously.
ITEM #5 - Other Business
A question was raised regarding how the overpayment to City retiree, Thomas
Pearson, discussed at the April 9, 1998 Pension Advisory Committee Meeting, occurred.
Staff to respond.
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ITEM #6 - Adlournm!!!J.!l P 9:03 a.m.
ATTEST:~G. ~~f)n.~
mpf0598U. - City Clerk 2
05/04/98