06/15/1998 (2)
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PENSION.
... (TRUSTEES)
,.Board of Trustees of the Employees'
Pension F'und
Minutes
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" ACTION AGENDA ,
Board of Tr,:,stees of the Employees' Pension Fund
June 16, 1998
1. 9:09 a.m.
2. Approved as submitted.
.3. Approved.
5. None.
4. Approved.
,6. 9: 10 a.m.
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TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
CITY OF CLEARWATER
June 15, 1998
Prasent:
Rita Garvey
Ed Hooper
J. B. Johnson
Karen Seel
Michael J. Roberto
Pamela,K. Akin
Cynthia E. Goudeau
Brenda Moses
, Chair
Vice-Chair/Trustee
Trustee
Trustee
City Manager
City Attorney
City Clerk
Board Reporter
Absent:
Robert Clark
Trustee
The Chair called the meeting to order at 9:09 a.m. at City Half.
To provide continuity for research, items are in agenda order although not necessarily
discussed In that order.
ITEM #2 M Aooroval of Minutes
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a) Albert Carrier
b) David Larremore
c} Jeremy Lewis
d) Angelo Muscarella
e) Lauren Sherman
f) Michael Burden
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Trustee Hooper moved to approve the minutes of the May 4, 1 998, 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:
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 Jimmie Waters and Jessie Myrick be granted regular pensions under
Section{s) 2.393 and 2.397 of the Employees' Pension Plan.
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mpf0698
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06/1 5198
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Jimmie Waters was employed on April 13, 1973, and his pension service credit is
effective October 13, 1 973. His pension will be effective on May 1, 1998.
Based on an average salary of approximately $37,589 per year over the past five
years, the formula for computing regular pensions, and Mr. Waters' selection of the 100%
Joint & Survivor Annuity, this pansion will approximate $24,849 annually.
Jessie Myrick was employed on June 4, 1963, 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 $38,743 per year over the past five
years, the formula for computing regular pensions, and Mr. Myrick's selection of the 100%
Joint & Survivor Annuity, this pension will approximate $36,366 annually.
Mr. Waters and Mr. Myrick's pensions were approved by the PAC on May 14,
) ,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
y'ears of credited service. Mr. Waters qualifies under the age 55 and 20 years of service
critoria. Mr. Myrick qualifies under both criteria.
Trustee Seel moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
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ITEM #5 - Other Business - None.
ITEM #6 - Adiournment: - 9:10 a.m.
'ATTEST: ~i4'~LAt'J
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, 06/15/98
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