04/12/1999 (2)
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.... PENSION
(TRUSTEES) .
. Board of Trustees of the Employees'
I Pension Fund
Minutes
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ACTION AGENDA
Board of Trustees of the Employees' Pension Fund
" April 1 2, 1999 .
1. "Call to Order - 1 :04 p.m.
2.' C Approval of Minutes: 3/15/99 ~ Approved as submitted.
. 3. Request for acceptance into membership: Kathi L. Orange, Sarah Gilkerson, Jerry
Absher, J. C. Jones, Jay Gibson, Jaime Cebollero, Nasha Shaw, Richard Ritter, Robart
Steyer, Anthony Newman, Kathleen Welch & Elvira Jackson - Approved.
. 4. ,Regular Pension(s) to be granted: Bonnie O'Neal - Approved.
5'. . Pension Advisory Attorney Services RFP - reference evaluations for responding firms
,& list of firms' charges for reimbursable expenses - Approved having City Attorney
negotiate 8 contract with Christiansen & Dehner, P.A.
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6. Other Business ~ See minutes for,discussion.
7. Adjourn - 1 :14 p.m.
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TRUSTEES OF THE EMPLOYEESt PENSION FUND MEETING
CITY OF CLEARWATER
April 12, 1999
Present:
Brian J. Aungst
Ed Hooper
J. B. Johnson
Robert Clark
Ed Hart
Chair
Vice-Chair/Trustee
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 1 :04 p.m. at City Hall.
To provide continuity for research, items are in agenda order although not neces'sarily
discussed in that order.
ITEM #2 - Approval of Minutes:
Trustee Hooper moved to approve the minutes of the March 15, 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 - Request for Acceptance into Membership:
The City Manager presented the recommendation of the Pension Advisory
Committee to approve membership for the employee(s) listed below:
Kathi L. Orange
Sarah Gilkerson
Jerry Absher
J. C. Jones
Jay Gibson
Jaime Cebollero
Nasha Shaw
Richard Ritter
Robert Steyer.
Anthony Newman
Kathleen Welch
Elvira Jackson,
Trustee Hooper moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
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04/1 2199
The 'PAC (Pension Advisory Committee) approved this pension on March 11, 1999,
Section 2.393(p) provides for normal retirement eligibility when a participant has reached
age 55 and completed 20 years of credited service or has completed 30 years of credited
service. Ms. O'Neal qualifies under the age 55 and 20 years of service criteria,
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~ ITEM #4 - Reauest for Pension:
The City Manager presented the recommendation of the Pension Advisory
Committee that Bonnie O'Neal be granted a regular pension under Section(s) 2.393 and
2.397 of the Employees' Pension Plan,
Bonnie OtNeal was employed on March 26, 1979, and her pension service credit is
effective on that date. Her pension will be effective M3Y 1, 1999. Based on an average
. salary of approximately $33,085 per year over the past five years, the formula for
computing regular pensions, and Ms. O'Neal's selection of the 100% Joint & Survivor
Annuity, this pension will approximate $18,009 annually,
Trustee Johnson to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously,
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ITEM #5 - Pension Advisorv Attornev Services RFP - reference evaluations for respondino
firms & list of firms' charoes for reimbursable expenses
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The City Attorney said on March 26, 1999, the PAC and Pension Trustees heard
presentations from the firms who had responded to the City's RFP (Request for Proposals)
for Pension attorney services: 1) Christiansen & Dehner; 2) Cypen & Cypen; and 3) Kalish
& Ward. The PAC had recommended the Pension Trustees approve the firm of
Christiansen & Dehner, P.A. The final contract will require Pension Trustee approval.
Trustee Johnson moved to authorize the City Attorney to negotiate a contract with
Christiansen & Dehner, P.A. for Pension Attorney Services. The motion was duly seconded
and carried unanimously.
ITEM #6 - Other Business:
Concern was expressed information provided to the PAC is not complete and
difficult to understand. It was noted paperwork, related to pension buy-back requests
provided to PAC, did not include actuarial numbers. It was suggested PAC approval of
David Krieger's request to buy back his pension needs to be reconsidered. The importance
of clarifying ramifications of PAC decisions on the Pension Plan was noted.
Concern was expressed regarding long term consequences to the plan. The City
Attorney said staff can outline the buy-back requests and identify distinctions among them,
In response to a question, Fiscal Administrator Margie Simmons estimated the Pension
Plan is charged approximately $100 per computation of actuarial numbers.
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04/1 2/99
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.consensus was to approve costs related to the computation of actuarial numbers
forbuy:'back ,cases pending before the PAC. .
ITEM #7- Adiournment:
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The meeting adjourned at 1 :14 p.m.
ATTEST: ..~\\L~ Z./:i.. [J,
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04/1 2/99
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