03/15/1999 (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
March 15, 1999
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1. ' Call to Order - 9:08 a.m. .
,2. Approval of Minutes: 2/16/99 - Approved as submitted.
3. Request,for acceptance into membership: Yvette Poisson, Ami Dicataldo, Jean M.
Peeke~ Jason Barlet, Miglena Moseley, & Erin Driscoll - Approved.
4. Regular Pension{s) to be granted: Peter St. Martin, Alton W. Brown, Jr.', John Downs
& Steven Kelly - Approved.
5. Request to buy back previous pension service credit as approved by the PAC:
Kenneth Donagan ~ Approved with no interest being required.
6. Other Business - Motion to ~educe the interest amount for Jeff Harper's buy-back into
, the Pension Plan to 5% carried unanimously.
7. . Adjourn - 9:31, a.m.
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TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
CITY OF CLEARWATER
March 15, 1999
Present:
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Rita Garvey
Ed Hooper
J. B. Johnson
Robert Clark
Vacant Seat
Chair
Vice-Chair
Trustee
Trustee
Trustee
Also present: Michael J. Roberto
Pamela K. Akin
Cynthia E., Goudeau
Patricia o. Sullivan
City Manager
City Attorney
City Clerk
Board Reporter
, The Chair called the meeting to order at 9:08 a.m. at City Hall.
To provide continuIty for research, items are in agenda order although not necessarily
, discusc.:'d in that order. '
ITEM #2 - Aooroval of Minutes:
Trustee Clark to approve the minutes of the February 16, 1999, 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 Membershio:
The City Manager presented the recommendation of the PAC (Pension Advisory
Committee) to approve membership for the listed employees:
Yvette Poisson
Ami Dicataldo
Jean M. Peeke
Jason Barlet
Miglena Moseley
Erin Driscoll
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 Peter St. Martin, Arton W. Brown, Jr., John Downs, and Steven Kelly be
granted regular pensions under Section{s) 2.393 and 2.397 of the Employees' Pension
Plan.
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03/1 5199
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Peter St. Martin was employed on January 17, 1972, and his pension service credit
is effective on that date. His pension will be effective March 1, 1999. Based on an
average salary of approximately $40,246 per year over the past five years, the formula for
computing regular pensions, and Mr. St. Martin's selection of the 100% Joint & Survivor
Annuity, this pension will approximate $29,545 annually.
Alton W. Brown, Jr., was employed on December 17, 1973, and his pension service
credit is effective on that date. His pension will be effective March 1, 1999. Based on an
average salary of approximately $41,882 per year over the past five years, the formula for
computing regular pensions, and Mr. Brown's selection of the 100 % Joint & Survivor
Annuity, this pension will approximate $28,329 annually.
John Downs was employed on January 15, 1973, and his pension service credit is
effective on June 15, 1973. His pension will be effective March 1, 1999. Based on an
average salary of approximately $41,202 per year over the past five years, the formula for
computing regular pensions, and Mr. Downs' selection of the 100% Joint & Survivor
Annuity, this pension will approximate $28,415 annually.
Steven Kelly was employed on October 20, 1971, and his pension service credit is
effective on that date. His pension will be effective April 1, 1999. Based on an average
salary of approximately $42,667 per year over the past five years, the formula for
computing regular pensions, and Mr. Kelly's selection of the 100% Joint & Survivor
Annuity, this pension will approximate $31,591 annually.
The PAC approved these on February 11, 1999. 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 Firefighter and Firefighter/Drive-Operator as meeting the hazardous
duty criteria. Mr. St. Martin, Mr. Brown, and Mr. Downs qualify under the hazardous duty
criteria. Section 2.393 (p) also 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. Kelly qualifies under the age 55 and twenty years of service
criteria.
Trustee Johnson moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
ITEM #5 - Reauest to Buv Back Previous Pension Service Credit as Aoproved by the PAC
Kenneth Donagan originally was employed 8S a Police Officer on April 8, 1974. On
September 2, 1983, after 9 % years of service, he resigned from the City and withdrew his
pension contributions in the amount of $10,614.81. On October 31, 1983, Mr. Donagan
formally requested to withdraw his resignation under the appropriate Civil Service Rule. His
request was approved and he returned to work as a Police Officer on February 6, 1984.
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Upon his return, Mr. Donagan's seniority date was adjusted by 156 days, the number of
days he was actually gone, as is done in any case when an employee withdraws a
resignation. Additionally, Mr. Donagan was credited with all his benefits, including sick
leave and vacation.
At that time, Mr. Donagan made a request to pay back the funds he had
withdrawn from the Pension Plan. Upon the recommendation of then Assiatant City
Manager Gerald Weimer that Mr. Donagan not be allowed to pay back the money due
to the future actuarial impact on the Pension Plan, Mr. Donagan's request was
denied.
Since that time, Mr. Donagan has made several requests to buy back his
pension service credit. On February 11, 1999, Andra Dreyfus, attorney for Mr.
Donagan, presented a request to the PAC that Mr. Donagan be allowed to pay back
the amount withdrawn and be credited for his original period of employment. It was
the consensus of the PAC that Mr. Donagan should be allowed to buy back this time
to remedy an inequity caused by a past arbitrary decision. Upon a motion duly made
and seconded, the PAC unanimously approved this request. This matter has been'
forwarded to the Pension Trustees for consideration.
The City Attorney reported the PAC had recommended Mr. Donagan be allowed to
pay back his withdrawn pension contributions without interest. She expressed concern the
PAC has been inconsistent in its decisions related to the interest due on approved pension
contribution pay-backs.
Andra Dreyfus, representing Mr. Donagan, said it would be unfair to charge Mr.
Donagan interest as he had been illegally denied reinstatement in the Pension Plan. She
said the current requirement to repay 5% interest has no bearing on 1983 actions. PAC
members Pat Greer and Pat Shepler spoke in support of Mr. Donagan not being charged
interest. Inconsistencies between cases under consideration were noted.
Trustee Johnson moved to accept the recommendation of the Pension Advisory
Committee with no interest being required. The motion was duly seconded.
Upon the vote being taken, the motion carried unanimously.
ITEM #6 - Other Business
The City Attorney said the interest rate of 7% approved by the Pension Trustees for
Jeff Harper's buy-back should have been a 5% rate, When the issue was discussed, the
approved buy-back amount had included 7% interest. Concern was expressed Mr. Harper
was being charged interest on his pay-back. It was felt Mr. Harper should pay interest as
he had never applied to buy-back his pension service credit prior to his retirement.
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T~ustee Hooper moved to reduce the interest amount for Jeff Harper's buy-back into
the Pension Plan to 5%. The motion was duly seconded and carried unanimously.'
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ITEM #7 ~ Adjournment:,
"The meeting adjourned at 9:3'1 a.m.
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