10/04/1999 (2)
,"1
I.J
t'.c,
, c,
c .'
,.
. c . , '
, . '.. "
~~:~:~~;;~~:';;"r~':.;}h ,:",;~,>"',:::.,~""".:.' :' . ''', . c .'d" " . ,':'
. . .
.. "
L .:
i~ .. I
: ~
,:.
;-" .
::.'.: ,
, .
.. .
l:: "
_c '.
~i.: :
)1 ,
~ '.
PENSION
'. (TRUSTEES)
Board of Trustees of the Employees'
Pension Fund'
Minutes '
. .
~. ~...> ~
, . l. ,
.:~' . F . l
\ ,c ,
, .
, c'
n, .
~~ >' ~.'. .
~'. I :: .: c
~:~'.\~ ' .
1;' I,
~,~ .
I
. I
, .
c,
\>c' .
t. .'
" ~ . I
Date Qc~~r ~ Iqq~'
. '
. , .
C/o
~")):4"""'R"'./-4.'P: .
. ~,c".~." ..\ "., .p...-l. ..... .' ::., :.<;, \~ . 'c, c'.. ,~,..., '.~~"-L" ....~ >)-"'" :! ~..""c""~.",,',, .r'.~": .
. l ., 1= ~', .
~, '._ .,. L' ~ ~ ~ .'
, ,'~ - ~
" tt
I "
. , '
I,' c
'"
, '.'.'
.., .'
"
~~J'ij,::t>;i:t%,},,!;.
~~:', "'. :.':. '
'~i",f:'",
:~~~ ,.. r..
Jt,:~.,..,
fl., h...~~
ft;:'",' '.
+,: ~ ,
"'0
o
. " ...~. ,~. :' ~ '
, .
" ,
, "
><., l~n~.::., ; /'
.,' ...,
'.' _:.,' ".:" I..
..'
,. 'j,:'
.'1 L H.
. ,
'+ "I..
ACTION AGENDA
Board of Trustees of the Employees' Pension Fund,
October 4, 1999 - 9:00 A.M.
,1.
Call to Order - 9:02 8.m.
2.' Approval of Minutes': 9/1 3/99 ~ Approved as submitted.
3. ,'..Request for acceptance into membership: Dina K~tsougraklsl Gwen Hollander, Theron
. Winston, Markus DeBose;. Whitney Frank, Jon Lopez, Robert Keane, Michael Jones,
Michael Hutto, Jevon Graham, Joseph Conners, Wi"ie Hoston, Sr., Matthew,Johnson,
Robert T. Smith, Michele Smith, Brian Langille, Kirkwood Hepburn, David Yawn, Robin
Reed, Edward Tumber, Robert Hanson, Kirk Smith, Steve Berenguer, John H. Martin,
, Willie Jones, Abraham Philipson, & William Moran - Approved.
4., Regular 'Pensions to be granted: Dennis Acker, Leon D. .Davis & Carole Ciokiewicz -
Approved.
5. ' Pensions to be vested: Cindi R. Juster & Sharon Walton - Approved.
. 6. ,Other Business - see minutes
7. Adjourn - 9:06 a.m.
IT, .
~''. .
f
'. k . . ., '~" H . . < "
, "
. .
c .~~-: I d. '. .,,~~. ,. 'I
t~,;~i;)',:::" " " , .
:/:~;> .
, I
> c, ~ .
.:\
,. .
'..I' . ~ .'
:: .' 0,
. TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
CITY OF CLEAR\VATER
October 4, 1 999
,
Present: Brian J. Aungst
Ed Hooper
J. B.Johnson
Robert r,lark
Ed Hart
Chair
Vice-Chair/Trustee
Trustee.
Trustee
Trustee
Also present: Michael J. Roberto
Pamela K. Akin
Lee Dehnor
Paul D. O'Rourke
Cynthia E. Goudeau
Patricia O. Sullivan
City Manager
City Attorney
Pension Trustee Attorney
Human Resources Administrator
City Clerk
Board Reporter
The Chair called the meeting to order at 9:02 a.m. at City Hall.
To provide continuity for research, items are in agenda 'order although not necessarily
discussed In that order.
ITEM #2 - Approval of Minutes:
o
Trustee Hooper moved to approve the minutes of the Septembar 13, 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 PAC (Pension Advisory Committee)
recommendation to approve membership for the employees listed below:
Din a Katsougrakis
Gwen Hollander
Theron Winston
Markus DeBose
Whitney Frank
Jon Lopez
Robert Keane
Michael Jones
Michael Hutto
Jevon Graham
Joseph Conners
Willie Hoston, Sr.
::J
1
mpf1099
10/04/99
~~{)
, ,
~
, "
" ."
, ,
, "
Matthew Johnson
Robert T. Smith
Michele Smith
Brian Langille
Kirkwood Hepburn
David Yawn
Robin Reed
Edward Tumber
Robert Hanson
Kirk Smith
Steve Berenguer
John H. Martin
Willie Jones
Abraham Philipson
William Moran '
, . . Trustee Johnson moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
"
o
!. .
'. '
!O
~.t::"~ ' -.,'
ITEM #4 - Reauest for Pension:
. The City Manager presented the PAC recommendation that Dennis Acker. Leon D.
Davis, Bnd Carole Cioklewlcz be granted regular pensions under Section(s) 2.393 and
2.397 of the Employees' Pension Plan.
Dennis Acker was employed on April 17, 1972, and his pension service credit is
effective on that date. His pension will be effective Nove'rnber 1, 1999. Based on an
average'annual salary of $45,628 over the past 5 years, the formula to compute regular
pensions. and Mr. Ackerts selection of the 100% Joint & Survivor Annuity, his annual
pension will approximate $33,521.
Leon D. Davis was employed on September 15, 1975, and his pension service credit
is effective on March 16, 1976. His pension will be effective December 1, 1999. Based
on an average annual salary of $26,625 over the past 5 years, the formula to compute
regular pensions, and Mr. Davis' selection of the 50% Joint & Survivor Annuity, his annual
pension will approximate $18,058.
Carole Ciokiewicz was employed on November 12, 1969, and her pension service
credit is effective on May 1 2, 1970. Her pension will be effective June 1, 2000. Based
on an average annual salary of $59,994 over the past 5 years, the formula to compute
regular pensions, and Ms. Ciokiewicz' selection of the Life Annuity, her annual pension will
approximate $55,674.
The PAC approved these pensions on September 9, 1999.
mpf1099
2
10104/99
> I
',.
,.,..
, . ~ c
:,1
,
~
.
,~
J','"", ".
Section 2.393 (p) provides for normal retirement eligibility when a participant has
completed 20 years of credited service in a type of employment described as "hazardous
duty" and defines service as a Police Officer as meeting the hazardous duty criteria under
which Mr. Acker qualifies. Section 2.393 (p) also 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. Mr. Davis qualifies under the age 55 and 20 years
of service criteria. Ms. Ciokiewicz qualifies under the 30 years of service criteria.
Trustee Hooper moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
ITEM #5 - Request to Vest Pension:
The City Manager presented the PAC recommendation that Cindi R. Juster and
Sharon Walton be allowed to vest their pensions under Section(s) 2.397 and 2.398 of the
Employees' Pension Plan.
Cindi R. Juster was employed on March 21, 1988, and her pension service credit is
effective on that date. Sharon Walton was employed on September 14. 1981, and her
pension service credit is effective on that date.
The Employees' Pension Plan provides that should an employee cease to be an
employee of the City of Clearwater after completing 10 or more years of creditable service
(pension participation), then such employee shall acquire a vested interest in the retirement
benefits. Vested pension payments commence on the first of the month following the
month In which the employee normally would have been eligible for retirement. 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 co;npleted 30 years of credited service.
Ms. Juster would have completed 20 years of service and reached age 55 on March
21, 2008. Her pension will be effective on April 1, 2008. Ms. Walton would have
completed 20 years of service and reached age 55 on April 27, 2011. Her pension will be
effective May 1, 2011.
The PAC approved these requests on September 9, 1999.
Trustee Johnson moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
ITEM #6 - Other Business:
Human Resources Administrator Paul O'Rourke reported John Schmalzbauer has
been elected to the PAC.
mpf1099
3
10104/99
~21Jlfi:~~;<}~;;;6';\,:,'. '.: ..', .
jf,':"~~'" ""d\ '.'" '" .' ~, " .
,~!~H:);~:;~:'::'" .' .. .... '. ....:
~~..>{I'P'C;'C'" "
1{rr'~'<'
~}.,..
h>-::, ,
~i'~' '~ e' ' .
,.Ie
'. ~- "
, "....'.>
I ~ ~ .' . i
"
'.,
t~,h, ."
~~:.:~:,;/' "'. ,"
{~.j::,.; ~
1. '
.'
~. e '
o
"
'.,
,:),
: \'e
y-... ,
t ~ I
/=- .
~, ~..>
;~
. : I~ '.
" ,
.. .
./
.' ;': In response to a question, Pension Trustees Attorney Lee Dehner said the City will
, need .to make some changes to meet recent pension related legislation. Pension Plan
'. Actuary Steve Metz is calculating related actuarial costs. The City does not have to
. implement Items until State funds are provided to cover the additional costs. Concern was
expressed long term impacts may be expensive.
ITEM ii7 - Adiournment:
, The meeting adjourned at 9:06 a.m.
"
;L~
, .
'cr '.
ATTEST:' .~ J: ~.
" , .' ',' . . . City ~lerk ," ' .
I.,
.1
'c:>
f . ~
, ,
mpf1 099 '
4
10104/99
... '
~i~~;:riT~lr.:'~<~i :~~10;' ~:~'~h~!~'~" ~~~<I/ . " ~', ..~. ":
~af,q;".h ,old'1. .,..ll',\",.,...,.".", ,0',' '.
. . I "~ <'
: ,:\ '< ~~I, : ~~ !.. I'. ,
" . "",' ,>" . "I I'. . ~. ., ,.' _. ,.
., .'
:.,.
. ~
.,'1.