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11/13/2000 (2)
. ',\ ", , ~,' I' ~",' ""'j~ ,I.' -'.,,' "'d, ',' . ,.,"',; I "'~I'.:.' ,,' ,l' ~ '.'1 I I, ,",,' ,....a..- ,~' .:',' '~.~: :~'.: ,', ; " ,1. 1:, i .t'; I, ',.., . " '...., ,'. ,~ <:;:', >, .',,', L" ,.. ,'-rH, .' .... " \ c,:-;;:,:": ',,'),: '.: " I . . , ~ .1', ,,: ',,'C\:\' C '<; 'I ',I ': :' ./i". + , .' 0, i' r I '," 'I .' I' ,'cl I . i. ," ' : ,,.',1' I . . I' " , \' I . ' " '0 .', ',' :.). ~: ,~ ~: ,,'. '.", .' ,', I " . '", I. ' ' '. \~ , " , , ,', , I'. ",i: I ~( ... , : ' . .', . . < . ,l :t".. ' : ~. " '>", '..' ,~':l;\L~" ", .,' . 1 '~'.. ," , , , :', \; . ~ c ::r : . '. ;', : ';" c . ~"', : t ' I, . ': '" ' : .', I, .' ~ " : I' ! '. " , c, ~ . ,.~~~,,~:;L);;;<::/:~:);:~..;"!.;;:~ ~...i:(_:".::.";',i,~..,~;,...;,....,.;;;! ;; i" !.'" " ...:....,... "'" : ., J . . I ., , " , :, " ,I , . . ,'.. C,' 1/--'1. ~ ' . _' ,T'<r' t, .';... '" : ,C, , '< t' '. , , .'-.: I , .. ,. ," ,~ . ' ' , ' I".' , ' . " ." I' , , I, .1-' , ,c " . '! ' " , , .1 ~ 1 , , ,. , , , , " " , " ~. 1 , ':l ,'j , " " , I ,'. , . I' 'I " .,' !. . , , i : '. ,<. . , , ;. " . (TRUSTEES) " ~ .', " , ,. ,,' 'Board '. of Truste~s of the Employees' , Pension Fund Minutes r " " ' 'Date', 11-/3.. 0 () ," " , I " i' , I \ "5\o~ '.'~:Ii 8. Agreement with Christiansen & Dehner, P.A., legal services for Trustees & PAC, ~I:~W, 1011/00-9/30/01 - Approved. . ~ ~ I' \ ,'"1.' \:, \' . " ." \, " .I, .( ,I, . ,I ' , , Y", j , ,.' \ ,I." " ; \' . r~. " \ c, \' , , .\!.' , (, '( \ .;,. c ,,'. , '.' I ~ . . c; \: , ..\~ /, ' . \,', ,,1,' ), rrl'. " :i '., I, ',,/ : \ I") ",1.1.\1 } ..t"1 , I::i\ , , ",'I , , ,>;:> ';,1 ..:~.I " (,.'::}: :/:~1~ .'y, ::};: : ',\ \. ;1 \'1\>':'" 'j;::J " . , , \T" ~ \\." I :j:J ~ ,',cl, ::. ~' " \;.:\ ':/:,;' ~ . .!~ ..~:~ ~. '. '" ~fl ':j(: ,1..:'.' <,'. .; >It'.'. 01";' , 1 !r,\ :'~)}.: ,.,i,:','... l\ t~. f(;.:\t ~. ',~ .;,'4.. 'i.? I ,') l\:\.'{' I," ~r.'. >' ,'< '\) .. ',I' . :f'" 1\. co .,.... ~~ , , I . \ '\: \~'> ;, \./ \': :: ~.\ ... ""J ' ; I ,I "~ ..\ :- I, , ,,,. i I" '.,' \., '/ c .' '.' -'" '~/ \:,' :,' \'. ,'cl," ,(,. !:';\ > I . ~ . l "I'. ( . 'r. ,: , ; .' " ';:1 , ' " , ., " , ',' , " i ~ ' .' <. . 11-' l . , '" ,<,,':: '<.:::i,',';::;";,:Lj),. ,iL:,: ,:.... , . 'i... ,: .~:' :". .': \. ':.~ ~l" , .t I' \ . ,l" , ..:~. ,I " ,..;v'. : 1."1 c,. ", ~ . C :: . , ; ~ , ~' I I '. . ',', ", ., .. ~...' .:. . .' \' ~ I . , " " !. , ,,', . I" .' , . , ~ " , ! c " I;' ' , ,., , , , ACTION AGENDA Board of Trustees of the Employees' Pension Fund November 13, 2000 , , 1 ; Call to Order - 10:15 B.m. .. ,2. ' ,Approval of Minutes: 10/1 6/00 ~ Approved as submitted. 3. Request for acceptance into membership: Jennifer Howard, Scott McGrail, Richard Martin, Patricia Rooks, Brian Craig, Ronald Rice, Joseph Smith, Christine Parker, & Paul Burger- Approved. 4. Rogular Pension(s) to be granted: Donn Githens & Patrick Adamson - Approved. , 5. Penslon(s) to be 'vested: Dolores Hofer - Approved. 6: Previous Pension Contributions to be allowed: Birgitt Dowd,' Lawrence Dowd, Mark , Goheen, Alphonso Hinson, & Carol Harvey - Approved. 7. Accept Actuary's Report for Employees' Pension Plan for plan year beginning 111100 - Accepted. :. , 9. Other Business - None. , 10. Adjourn - 10:19 a.m. , , . J. " . !!,'/, +y}:r,,:>:~,;' ': '. "i .>;:>,<i7'; ';::~, ':~i,:.\'/ .', /< ,~:::' :i\:':' .... '~<:(r/.:. ,~..), 'j'{. ,'. . < >.;,' (.';:/" ~.;.' :~:." c.x . [. ~:. .""\,.,' .\',,:: ~ 4.: : ~I,i! r \ ,.:1. "":. "1 ~': . J :f: 'J..:' .~:/~ '\1:-' \ j~:"'1' I ~'''''''-:ijl' : ~.: . '. t ,.: .,\,". :'",: "'":',,I.'.',,,:~~,r.,~ ':,:- :,:;.,",',':; "';"::",::,::",:,'.",:,',1.:,;,'::,,:,''>,:-,,::,'"~';':"":.:/::':"i';'I:');~"~ .,>./1 .'.,'(\ ",,"/.',"c. t.~':,',".>/I.!l..'.....I..".:;I,.~ ".I~. ..li'....,.~ ',t'.."+I\~' : . I:\~/." ,'c. I I':~ \.~.'(.,.e~..~"....,\I.:"';{.{ 'I" :('j \';.:,.'(".l',,-<,i. ~\' ~. .;:~~..I \j . .~,l ~..+"l ....:. ,.'J:J 1,.:" t. I \ I, '. "~I " , \ .') I' I /,' ; , h ::;' i;::;, :,: '::: ; ';;1" ',',": ,:::,. ","" , ). . \ ~. " I ~ \,' " '>.: , r:...'," ','1 ,.,.>.,}'::::.':'"., ;\:;',:,'"..:<..., :;.,I,',,'~' ~':.' j\;i,,:!;:::;.',,: '.,:" ,(, ",;/, ' ~f .' ,..l I 'c 'J . l ;.{.r'~ ~r: .\~q '. I- . " ~t', '~L'''' j t ~ . r :.~;":' '\I~,~ ~. ; ',' c , i J .~. , . ., ~. + . : " I.J "" , " , ~ ~ I , I; ~ " ~ i , ...... \ \;',( . '", .', ,.' "j I '>' , . . .l, ' < " .' , , ~ ~ . . J' .. '. I . . .' ':' - . ' , , , .. '/ ,\ , 1\1 " ", " \ I I" ,."j \; ~,', !\' ." TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING CITY OF CLEARWATER November 13, 2000 I, '. , .' , ;(.. ' .,...: , ,!. .' .\~. \ .:.'0. Present: Brian J. Aungst J. 8. Johnson Robert Clark Ed Hart Vacant Seat Chair Vice-Chair/Trustee Trustee Trustee Trustee " i, 1/' I' , " ~. ',1 \, Also present: William B. Horne II Pamela K.' Akin . Lee Dehner Paul O'Rourke Cynthia E. Goudeau Brenda Moses . Interim City Manager City Attorney , Pension Trustees Attorney Human Resources Administrator City Clerk Board Reporter 'r . " / ii' . '.// : , \', ','t, ..,\;, "J.\I,I ,', -/ , ," ,.c.\ >/; ~ Ht . ;). >.1 LH"" ,;::;' . ,i.; ,~, I.. j ..~ ... \\. " \1:' 1:'.'/;"" 'I;'::} . Jf.~ '" <, :'~ ~ ,.hi \t ,~" \::\V ~;. .1, " The Chair called the meeting to order at 10:15 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: t:"!;;,' \),:".'1 Trustee Clark moved to approve the minutes of the October 16, 2000, meeting, as recorded and submitted in written summation by the City Clerk to each Trustee. The motion was duly seconded and carried unanimously.. .', i,::.'\) ..... . . ~r I. ;\ ':':1\ ( ':: ~, .~ 1'\;" , , .'1 ':.\\ 'j",';' !"~':< I. , . ~ ., f:':rti. ,. ,'. .~~:~tr. ..".':l' . r ,\~. > ,~Ci~l, '; 'I , ITEM #3 - Reauest for Acceptance into Membershio: The Interim City Manager presented the recommendation of the. Pension Advisory Committee to approve membership for the employees listed below: Jennifer Howard, Scott McGrail, Richard, Martin, Patricia Rooks, Brian Craig, Ronald Rice, Joseph Smith, Christine Parker, & Paul Burger Trustee Clark moved to accept the recommendation of the Pension Advisory Committee. The motion was duly 'seconded and carried unanimously. ,:,\,':, I ~. "." ~..." l',; ll\ " t .," , , ~' , '/." , .. . .- ,d\', '; ~ 1 ", \1' " , f,," , .', ....}. ITEM #4 - Reauest,for Pension: The Human Resources Administrator presented the recommendation of the Pension Advisory Committee that Donn Githens and Patrick Adamson be granted a regular pensions under Section(s) 2.393 and 2.397 of the Employees' Pension Plan. ~(,J Donn Githons was employed on August 20, 1979, and his pension service credit is effective on that date. His pension will be effective January 1, 2001. ...'. ,," .. \ I, " :, )' -- mpf1100 1 11/13/00 , " .;.i. ~( oj .1 ~', " ~'. r T. ~', ~ ;, :', 1.. L ;, " : \ ,., ' '/j 1,"':'.'\ ,I" ' . ,'., '~' I , . I ~ "' t ' "':i,:',I,',\~~~,':.., - I' t. I,., . '~' I I I... "~'..." ".~ /. ,.'",.J, ~' ~ ..' ....jt ~<t'H. " ,', ~ \"rl'~' ,: '1 \.,>>, J. {jl < \,~j.~'r. . ~ll ,{... I,., "f.\ ~. .f,,:', 'I"'\'~~ \,.1 ~ . ~I i..j .L: ~ , ",", , i L\I ',', "'" l ..... I I' .,. I', ".' -.',' /'1 '~'I :. .-,' "i +, . II,...... .,'", \'\'~'I" . ~l ~t \ '1. 'j ...... ", J \. '~'\ ".', .r: t." I'" . , , :':'t:r i ,4'1' \ I II '.~l~,;' ',,~ ,~I' i (""'\ ,'r,.' ~~. >'.\:. \., . ..t.~ (". i' '::- I I.", I' :!. '.~' "",. ,': I '<.r~ I'" .,;I.,(.~ ,I'.. r~ t. .':'. (t "~",~ , . ; ;, . ,/- I~"" ". '. ',., ,I I ,. I . ~ l~' :1' t I '" , .. .' ~..~ ,. ."1 ',' . I ,. .' i' 'l' . , '. '.' I I..... . . ....' ,','.,',.:..(:i~':...:.. .\. .:<' '.~ ,~... I I ~. '.",.... " .:' . .,'" i', 1(,(.'.1, .,/Jl"",,', l." 'T" '''''''~t .1." }"1\ . '. .'".1 ',i. , '1" '.1, -.,I} ~..' \. ( ,/./.....,.l'.. , ., " :, :'1.',: :')' \:';',,':" ':,:':":,., ~:,: ,::;!',(,.... '<:,"'~:1,: ;::':.~\~:" ,:'::'1."; '';:''1'':' \,'.. ',- ';"'<"!I~ r :i;\ ':':: \.', i..',": : :\;~:'IR' -f::,; ~I':', ':~ '.:'-:.,: ~:::; ''.;,'/':1'',:\ ~':.<':, :~.,',:\",:',;,"J:,I;'.,':, 1(1,.1.,., )." . I, t"" j .1" 11'lt"'I.I,~~L, "....r1r 'J.'"I,~<\ _":~;\<I ~ /,' ~~~I'.'1. /.' fl'..,l c. ..' ,:.....,1,: /.f 'I,' tJ....,..../. ,.\il 1'4_.1, '.', .q . I' '" ~ ".'" 1.\.. '. f jl \r~ . ~ ..,.,.'\. ,.< l"~.". ," .": ",/~/{i.J./.\, "1..~J,"J'.I~"", ~-'. J ,I~./ '1 J:,. ,', -I. ~:~ ~'~hj~:~..'\ 1;1:;..' .:.'""':....~. '''',''1 't" ~ I:'~ iF:..':,: ';': )::~:;:;:; . ':'::': ; ,i ..c, :., ,. , ~ j . . .. "cl ,) It,1 , '. 'I . . , , .,.. ."" .{. I ~ ", ,i , , , , : ,; IX;'>';"I' "..1 ~ .:<1,:: . '.1't', t: .' ;. . ~ II:' ~ I .( Based on an average salary of approximately $62,696 per year over the past 5 years; the formula for computing regular pensions, and Mr. Githen's selection of the 100% , Joint & Survivor 'Annuity, this pension will approximate $ 36, 147 annually. Patrick Adamson was employed on August 1, 1977, and his pension service credit is effective on that date. His pension will be effective January 1, 2001. ~"/ . j \.~ ( . "j.1 '.. x , ' {: .'1 , \, "\ 'J', 'i'- ',' I' , , Basod on an average salary of approximately $62,298 per year over the past 5 years, the formula for computing regular'pensions, and Mr. Adamson's selection of the 100% Joint & Survivor Annuity, this pension will'approximate $39,217 annually. I:., {'\ The PAC approved these pensions on October 12, 2000. Section 2.393 (p) provides for normal retirement eligibility when a participant has compieted 20 years of credited service in a type of employment described as "hazardous duty" and further spec;:ifically defines service as a Police Captain and Police Lieutenant as meeting the hazardous duty criteria. -., .j'l .( ~: .:-:\' ,0, : ~: i. " " ""j ;'i '(" Trustee Johnson moved to accept the recommendation of the Pension Advisory Committee. The motion was duly se<;:onded and carried unanimously. , " ), .\- ','" ,>~': ~: .', :.,', ! 1. ~ , ~~I . <.1.'. ", ~<. I,':. ,1'" :'''1' , " \'..~ ,; ITEM #5 - ReQuest to Vest Pension: ';i\ The Interim City Manager presented the recommendation of the Pension Advisory tfi~ 'Committee that Dolores Hafer be allowed to vest her pension under Section(s) 2.397 and 2.398 of the Employees' Pension Plan. t, ~;, ,;',) ~ ~. .1 j"', I~,: ., ,1.\.", ';j:' , ,(.1 '.,; r I:c, .: ')ii.' I) , cO 1. : ~;. ~:.! < ".:,11 ,"'~I ! tc ,< ( j., . '. I ,~ ,\: I,' 'I' d Dolores Hofer was employed on January 6, 1 990, and her pension service credit is effective on that date., She resigned from City employment on September 29/ 2000. 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 f:lmployee normally would have been eligible for retirement. , .~: ,J > Section 2.393 (p) provides for normal retirement eligibility when a participant has reached age 55 and completed 20 years of credited service, has completed 30 years of credited service, or has reached age 65 and completed 10 years of credited service. Ms. Hofer would have completed 10 years of service and reached age 65 as of September 18/ 2008. Her pension will be effective on October 1, 2008. The PAC approved this request on October 1 2, 2000. < , , ' I' ./s ;',(' d Trustee Hart moved to accept the recommendation of the Pension Advisory Committee. The motion was duly seconded and carried unanimously. ,.\ I 'I . (' ! \' . . ':, J~ '\~ mpf1100 2 11/13/00 ~ ~. c I ~: '..1 I:': /~~ <, :':~,\:,~ ~'>;\':;~~~:',\'>:<\':',,~~: ':',;" 1""" :. < ......1.0/ \.... ;"'\1' \ ~ ': I i \,/. , \,,': ~ " '.' \, 1 .' '.' , ,~ ., \ ~. I,ll '. " . c, I"~ :' J .' . " I': ," ~, ~ '~,; , '" ,..:<i ::-::: -) :i: .:,'.~, " ; ';:/,:.,':~ !,',\, :. ,\:;.:::::: ,',:.::-, :;~; ::':': :" ~::::' ."/,',:: '~~;<,~""',:~::)':':';~::': ~~~,:: ',,:;:', \ \. '< ." ,.\.Ifl\/t., \ j \' <~, ,~I.," . '1\"'. c, It...... I" . ,"" >'P \. '\ '~.:.. ;'<.:'.' ",' : {i.'" .'.. ".1 i I, "_:..~:'~..'c::~' /.:/.' '1\,I""H\. .1'::':. I;' '~~". :'.~ ..~:~ ..;~.~'>/:.: ~ ',' :.~. '. '. \,"." (."'" J" " /, '( {.',\", \', '. I.. ~' '",'" ,'c '.. ' ":J" "'>'m"L ',."..;,' ()\;', I ',~ ',~ )<~ r:~:/..y.'~',::; ;<:, :'~".' ,,'::': ~:..",: :':":;."i</.::~ .. /\~.:;~:. .:'~i,j,:'", <.'<~6 ~,,:'~':,:'..::~'.,;:':: ': ::,.,.:' , :;/ <: ....... ",i,;. I J,:.: ::' .J :' 'y,,\ ;:'r :;::';;: '.'. ':"..t., ':";'''i "'-,,\: \\ f:(.' ..' ':'i \"',: 'I"" i..~d":..::,p ':.,", ,'~~', \ ~".\jl. ~l',J.jl .,",' \;, ...~. ':;(),;:;;:,T ~ 'a:!,}1;lL~':;' ,\~;,:::t~:~ 1 ;< '. '. . ,/ J;,';, . ,,'" " " \' I. .., '.c. ",-II tl: ' , , '" '/:'" .:.;.' I..,.. .,', ~':;'f{ fft, ::~~), -: C',~. "'{'. . , , . .' 'c~' ;('-: I ,', ,~ ~~ ; , .: 1"1\ ..~ . / ~t.' of . >L :: 1 ~ , '. :., . '/<: .'.' r "' ~; \>'. : jl:;d, , '. .'1i" :ir:'< ~~ : ,\ i , ,- . ~: 'e'J: . r.'< ..,',c 1\/,11. . / {~. f. l :h,' (,"'.'1: .. '1. l ':' i~ 1';"'\ .; Ii ~, \\' . ~ I ./'/,~ . ~ .i I, ,~I. II'.,.!' '\ I' PJ.\ . I' , (. ';:', "<::/; . ::/,'.'( ;'1 + '~; t ,(, ,I, ,\ ". ,( 1 .' ' ~ ;",\' V:'; \;<: , , ;\"" . L~ . 'c \/ f),',' 1,'~;', . \ 'I:, . , ,,,..) ", ',{: .!.(' 'I}. I Ip " ", ~ . '. , , " .' /',". '1 I . , I / " ~ <, l '. /. !:I " " ' . 1.< :,1, . " . " ,t. " I' ~ ., '!.:<. :~::'; , ' I, , ,. ITEM #6 - Previous Pension Contributions to be allowed: The Human Resources Administrator presented the reco'mmendation of the Pension Advisory Committee that Blrgitt Dowd, Lawrence Dowd, Mark Gohoen, Alphonso Hinson,' and Cafol Harvey be allowed to make their previous pension contributions for specified time periods. '~ , .\ ~ ~,: :"c' ~ ' .. ,'I \' "-'; (1/'/ ~ \ \ hI \' (I "~;' l The employees listed below were originally employed as permanent part~time. Although they were classified as permanent part.time employees, it has been determined that they worked full.time hours during the time periods indicated. When their status was chal:'ged to fun-time, they became eligible for pension participation as of that date. ' Indicated below is the amount they would have contributed to the Pension Plan during the time they worked fi.dl-time hours: /'" " , . ~~: \." , ,-,':" '.:.1 !'\ : \, I' -' ~ '~'t' /r ,:,' i:\ ~. \' .~w !'}f \;..:1 ~~;:L \ ';A'~ '~1>~ : J,:'" ".~ ,,~ '\, "1; :!J!:, /.;, ~(~ . \. <<'I (,l,-_ -:/ ': \; I~~" /,)r;:{ C"" J I\:>'~ t:,:: ~ t, " ;V;,; ., J\'~ '; J,:}\'.~, yc: ',i~}' ':)'11 " . :) Birgitt Dowd Lawrence Dowd Mark Goheen Alphonso Hinson Carol Harvey $345.62 $803.32 $401. 15 $263.98 $436.64 12/31/73-12/31174 12/18/74-12/10/76 9/6/79-9/6/80 11114/71-11/10/72 . 7/13/81-7113/82 In 1999 the PAC,considered a similar request from Darold Brink, an employee in the Marine Department, and approved the payment of his pension contributions for the time he was working full-time hours although classified as part-time. After distributing information city-wide asking for a response from former part-time employees who worked 1 950 (tor a 37.5 hour per week position) or 2080 (for a 40 hour per week position I hours in a 12 . month period, Human Resources received responses from 1 9 employees. It was determined that 5 of the 1 9 were improperly classified as part-time and should be entitled to pay their contributions to receive pension credit. At the PAC's meeting on October 12, 2000, the Committee approved these requests to pay contributions to receive service credit with the employees paying 5 % interest per year. Should the Trustees approve these requests, the amount owed as of October 31, 2000, for each of these employees is as follows: Blrgitt Dowd Lawrence Dowd Mark Goheen Alphonso Hinson Carol Harvey $1,219.34 $2,637.17 $1,072.87 $1,033.57 $1,076.06 . " ~, .. v; ({r; r: I i ,:.\ 1},.'; 't:'f \J~. \\.1 ',~ 'I' ,\\' ," '?t\.t !':f! j ~', Section 2.393 (1) of the City of Clearwater Code (1 980) provided that" All permanent employees of the City shall be required to pay the assessments provided for in this division and are required to participate in the fund hereby created. The Trustees of this Pension Plan and Fund shall have the right to determine from time to time which employees are permanent employees of the City... II ~i ; ~\ .;: f:- .;:1. .\ " " I: ~ 'I' ;~ :1.:.;' / mpfl100 3 11/13/00 ....; ~ I: '," ~ I ,\ ~ I.......'.... J 1:'(' ':~\J, .t'..\.. .' !'. 11\"','" '.'(. ..\.~(,/\.\ ",,'.:, l"f.+:/;)\.\\ ....: "','.,. "':' ,"" ~"" ':'\ ':')'> "",.,., j', '.\"1 ,"I ',"I .tl ')/', I....,:'<~, . ',' .).'\"'~': ,.0;' "f'+.I~ ,;....../'... \ . ~ ~l~'(I~, ';'/1 r.'.', "',", { I, 'f I" .,.\ I' '... .... \" V ~~I(.""~ :'."-1.: .~.., ~I' . .' .'. ':\1' ":':;'>'1'" ,;,", I' I, "~,'I ",1,;-'\'1;,." ,:"\,1. '.,1' :(-'~':"":~I"'.(" ;'" ' "\" "'2.>~,\\:',r'A;",<,':""'i"";:'~, >,l ' 'It\ .' \' '. .\ j l'~ ~I ,~. / ,\.. ".,\!.... :. /\..~\ f~,/""""" '11'0 '. r.... ~.. . '". ~'," "I,' ./, ~.. .: '.> +; J,l~ "\'. \ . .,', ~ ',,1.1. .1' ~', " '., ({'j " ~ l' ~,( .;1 !'~""'-;-I .<'./ ~J'~... J. < >, ....j:\....':,'..{ ~r~\.~\:: '."I,.....~., \ ,.,.,~Il\j ('/., '.',' ......,"..', .\' ." ".~II'~:1'" '"",:',.,'...,.\.,", " , t<\ l \I' I 6~ . . "';1 .I "'. 'I " <. 'i' .{. t.\,' / ~ ( ..~. I' < ;' ..:...,...... I/l~~~':' "I. '~, :.:/i,.~~::1...<.'~!,...:.,Jc..,. \". .'1'" ....~:. .... I'~ <::I~'~ '\~~"." ,':- ,:. :.,....'\./ ...,;' ",\\. \";'t.' '~':\: 1.I.~f"~I"":~~:. ".' ". \,r. ,. ,\, \ I' . "<>, "') ", "i'!' '.. j ,\ , . . ',. ~ I . r.l; ; ,~, /,.",' . ~, ',.,. .>J1., . I.,,' I 'j \: r.C .'1") '\" , \. '" /' . ".' . '. . . "./1. '. . " ,... ' " ~. . , ': '" ','," ~", ". i <, " ": \ '. . '. i '.. I' I <.... . J ." " ~ .\ II ., ' /} l : I "I .... \ 'J''J ~. " "", ;\ ',I ~~. ::'~",,'I<'. :l:' I ': ./ .~ I.; 'a' ," ':.. li..,~, ..'.f, ..' .r .~; ... <'::. c :'1 ',/,~,,','p I' .,......~, .' ',1/1 ~. 'I.....,. . . ~ ,'.' ;,\:~),;;:': ;,1:' 'f, '?:; ';':" iI, ;;" 'i~;;;!,::. ,';... : '. I.' " ',' I: ( \ +', ' ~ r .,;. < " '... .1 . F < i J". .,', . l .' . I:', , I , ' .'1;,' '.. .I: ~, ,) 1 ,~ \.; .. ' + ...... .~ { ': ,,' .~.~.:/ 1\' ' , , .' , ~ . <;II , , '. h , ( I' .' 1,\' .;'1 I.: .1 r'\(t .. "l \;; 1" .,1.' k: ,,1;\ !:.I ,:..',\ 1\-1 '. 01, . '1\' :';).::7 '),' ': .'If .::;~~'~ ~ \.. ;-~fl ~~::.~\; ,I. .. , I .V~p -;'f. ~ ',,,'r il':J~ : . I' ! '. . ,," .. .. ~{;:. . Ii , " 'I" . >':.:;. . '1\ i'.t~, ' \" i .:\' "I' ".f ~ t' :' i{~~~ l...., ~ ........ " :.~ :<.~.\~ ~ ".\ ~t: I; i ''',4'. ~,~ ,:, i ,.., :,... ~ ,..' , \, J.....:; (I"~' :~, \~ ."W,.' 1\ ;. . 1'1 'l,~ . ~ , (, ~,',,\ \ .'{;' 'I' \"" . .:' \ . ;', r,/+ ,(;J: '0...-/ 1 .,\ .... .' ~ I, I / i' .~.. , ,. \ 'l.., L' .: 1 1 ' ~ , , .' , Section 2.393 (1) o'f tho City of Clearwater Employees' Pension Fund, effective' January 1, 1996, provides that "Employee shall mean any person employed by the Employer as,a full-time, permanent employee", Section 2.395 (a)(1) provides that "unless otherwise provided herein, all employees of tho Employer shall be required to make the contributions specified in Section 2.396 and shall be required to participate in the Plan". Section 2.393 (2t provides that the Trustees "shall have the right to determine from time to time which persons are full-time employees for the purposes of the Plan ..." Trustee Johnson moved to accept the recommendation of the Pension Advisory' Committee. The motion ,was duly seconded. Upon the vote being taken, Trustees Johnson, Clark and Chair Aungst voted" Aye"; Trustee Hart voted "Nay". Motion carried. ITEM #7 - Acceot Actuarv's Report for Emplovees' Pension Plan for nlan vear beainnina 1/1/00 The January 1 t 2000 actuarial report for the Employees' Pension Plan indicates a City contribution of $1,722,874 is required. However, the City Ordinance governing the pension plan requires the City contribute at least 7% of the compensation of all employees participating the plan (estimated at $3,565,618). The difference between the required contribution of $3,565,618 and the actuarial determined contribution of $1,722,874 will be added to the existing credit balance, currently at $1 2,442,498. The low contribution requirement is primarily due to the phase in of prior asset gains and the excellent ' investment returns realized in 2000. The Employees' Pension Plan experienced a fifth consecutive year of excellent investment performance. The market value basis performance for the last five years (1995, 1996, 1997, 1998, and 1999, respectively) has been 23.36%, 14.80%, 17.49%, 16.74%, and 18.61 %. The funded status of the plan decreased from 174% at January 1, 1999, to 162% at January 1, 2000, primarily due to the plan amendment, which increased the plan's actuarial accrued liabilities by nearly $53 million. This amendment added a 1.5% annual cost of living increase, and additional normat retirement age 01 65 with 10 years of service, plus additional eligibilities and benefits for police and firefighters as required by 175/185 legislation. The draft Actuary Report is available in the City Clerk's Office. In response to a question, Deputy Finance Director Jay Ravens said the City's contribution is $3.5 million as required by City ordinance. Trustee Hart moved to accept the Actuary's Report for the Employees' Pension Plan for the plan year beginning January 1, 2000. The motion was duly seconded and carried unanimously. ITEM #8 - Aareement with Christiansen & Dehner, P.A., leaal services for Trustees & PAC, 10/1/00-9/30/01 In 1999, the Board of Trustees of the City's Employees' Pension Plan entered into an agreement with the law firm of Christiansen & Dehner, P.A., to provide services to the Board of Trustees and Pension Advisory Committee. (PAC). "he PAC and Pension Trustees have been satisfied with the services provided by the firm. Christiansen & Dehner, P.A. mpf1100 , 4 11/13/00 .\:1 I /: \ . \ I \ ~1 " '\ . ~ ,".., '. ~ '\" . {, .., ~,I . n, I I, .~..~ .' "'I".\~i' . ',:',L '1""- ',t"~ 1.\' 'I. \ :'I/~',' :/".~,'~ ~( ,."", "'''//., '<~ I.\' t'1..~{ '\~I"'{~" '~r,~ . ".'.rh\.....~,/. I,\,.tr','f'/ .,.~"'-../I". :J...\,~.i.lr,. :"fi ,;"'l"I\.,.~.1 \'f','J I.' I~"c"f"} 11' I'\I~.'" "!"'J~\~'\'l'"" 'I).. ,.\ .~'(""'l. '.' I,..' ,...., ~ t~/'".,,\ " ... \ '.,:<,,:.~;\,\::,-("',/~f'.l~';.~l\: :'.I....~.I'lf... ,:. './,"/. 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I . ~ ';t . l' " 1+ : I. ~ ~~' \. , ! ~ . ;~ l < ~ ,;, ~. ! . .. .'.' .' , :' ~. , I "~. \ . .,. " ' , .j i I ..('. .\ , " ", " ~ '. e { . '. I " .' .' .' ~ ' . . . '. , , {. , > I ." '. ,'" '\" \. I \ '" I '.' r ';,: i. ,.,',',:: ',:<: '~ "';~.,'t'. ",.~/: (,:' L ..:/; ',; ;", '::~". '~"~:'" ,:':;, / ,..j"..'. 'I',: ,:i,',' ...f .. ',.' i . '. >";f: -'., '.', , \ ','i," ',', ' .. :':1" < :..~.' '! ',~ ~: ',','., "'" .' ,;: ,.;1, ..' ;, " ' "I,', .\,f.ldIJ"'~~'~~.'.r~"~' r\'~l'l'1:I,.':Il'~~>".\"~~f~'1:""ll..r.~t~'::/ .l.i....../"'\I".". ,..'~ 11'~ ,H'.I'r '\~'l'~'j.-; ,.,r... .~I ""r " r~i..I.\L,~{!~.,<..,' ",< .t.....;,\JII~l~Jl..~~ I tIJII....l..F. ~ It l")-, ~\ ~V't~~I"Io~""'\I" (".. ~:v,:.. "-:"""'/"\' ')" L.;.' ,-..,,'1'., ~ '0'.\ ';.'"." '., '~, 'I) " I'.'. ,","','.' .' ~~~\-'.:-l"t''''I.j!-:'''''ivJ'S-I~{~ '~"'rlll'j1",~,~...I;"f,t'\.",."1..I(,lt U.)L~<,I(~~~?'" ~J."!;'~" \'" \ ~""J,llt ~,' I~ " {,,'1-. \.... .!,Jl .<' 'Ji' ~ ~,"!"'it"i"'.' 'f~'~lrl~J>.(','~~~I~.)(.r-il?,'.:t"'!.:j:~.~:~.....~~<~;I:,.,~.'::;~~y\~:\,;::,lj~y'r.;~....~I/';;-:~">":I'P.~: '~\\.\(~~~ ;~I',fl '/....t.. ..~. f ~, "":k '~':.,~ ';J../'.....,. '.. '.I'~.:: .j:..,.~.. .:.~"":. .,~~'....., !t :i.~..t,~~~:, .... . jJ.(",.:. "I{ l.,.\\~'i 'i' \. J., t, ' ~ 1'" ,Jr. )1t...- .\',' r' r~ . " n I (' ,;P II, ~ 'I ~ j .~.~ . . ,~., ,~~ '. , ' .l. "I V ~ II ~ 0" I"~ , ~~, " ~~i:!}~;}:~~>::;\ ~:1>/f/~..f~~;\t~:, :1~ 5. ';~.'~'~f.:' '::~ '.~,~ ~l~ =:" ~',~', ,t,:~ ~.:~ .~~ ;\J ',:> \l(:~ '~:>:;~".; ~ ':' ~-: .:.; ~J~~.:: J, I' ,.. \' , :,::. ~ ~'I...., ;,,"'~'; '.. '. /i ~ ". . .:: " , '~.".: , . .' ,,\. ~'. J ',) '. :.. I : : (tl ',r', .', . /: 11~,~j('-I.!f~....II,~. j.\.. ~l! } j'."""~''''''1 '. '.' 'I"~" '. '. ~" \. ,. .'1/ I,., ,.1 ," ~ , 'f' i.., .' , , f I. 1t~' '~'~{:\'l:~/"", ",'1/ .,. I . 1" ".' .... L .~. I." '.. I . I '. '; f'l . ..' . ,I': . " 1-1'J}<H(<i~;{1/~' It~"~,,, q:.. .~ II" ~,'. l, ", ~\ If . ,". .~. . ..i. . ' , ,., l~' " : t~~,;,'~:":";:'~",:",:"",/: """"", :.." ,",'. .." . :,.' .,' ." . "~', , , > ~ " .,: " 1,\,>. L' " .'r.r',. , , (, . ), ~ '. .."t- . ~ ~. I. " . . has submitted a proposal to renew the contract effective October 1, 2000. The current rate's of $180 per hour for attorney services and $90 per hour for travl1ll time will remain'ln effect until Januiiry 1, 200", at which time' the' rate will be increased to $ 210' per hour and " $105' per hour: respectively. This contract period will run from October 1, 200q, through ,September. 30, 2001 ~ ,The PAC,approved the renewal of this contract on October 12, . ,2000.' ,It now comes before the Board of Trustees for its consideration. . ;. ' "j " ,\ '.'.1 '\. Trustee Hart mov'ed to approve the agreement with Christiansen & Dehner, P.A. for legal services for the term 10/1/00-9/30/01. The motion was duly seconded and carried unanimously. " , ' , " )rl.,'. f. :..'( /y' I, 'ITEM #9 - Other Business - None. J..... ITEM #10 - Adiournment , , \ :L :...'i'\ ~ .1' ~ ~ . : ,\:'~::: ~. '/':: ~ ~ , ,'" , .~ ~'... \ The meeting adjourned at 10: 19 a.m. " (': ::: ".~~ . ';;".'.1. . 'J.' \ ,~r. 1. ',' "'J :\\;,",' , ,/ ATTEST: ~..~ Ji~..9... City Crerk , , , , ~ .:;:\ ,:,y' t .5.+ :.:......,l .,' '/; ."". fIt . I: ~ . " "!..I' "",' , >n '('1/ j" . " ' .'1.: :"1." ;' '..1., ' <..', .\ ,<'Ij '.(". "i:, ~ / I ;: r '0':" .4.J! 'j. , 1'1":'" (." , . .. I I ", '.j r.' ' I,:. ;': ,\ I . , I:~<: . , , " >:. , " '. , , .' , ~,\ ":1:,, ,'\, f .: e I ."0 ~, , .', " , /',:.' . ~ ' o mpf1100 5 11/13/00 . ~ I . '. ", ' . ,. ... ~> \ I ., .i\;', '.I t, I' 'I ' .' . . . ,. 'e. ,. .J Hi ;' \ <;/,,:' ~,' r ,~::'.< ,:,:~,;,"" I" . i~ .1: .Il ,..., I .. ':. ;' ~ . ':~.:: .: .;.:~ I ~ .' '1 ""... .'. " : ~ \ . ~ ,\,." 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