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ACTION AGENDA
Board of Trustees of the Employees', Pension Fund
February 12, 2001
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'Call to Order- 1': 07 p.m.
Approval of Minutes: 1/16/01 - Approved as submitted.'
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Request 'for acceptance into membership: Richard Clayton, Maurice Hunter, Beverly
Ice,Christoph~r Potts, & Melanie Hasburgh' - ~pproved. .
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Regular Pension(s} to; be granted: Phillip Gatewood & Peter Verhoeven
App~oved..
Other Business, - None.
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1 :08 p.m.
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TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
CITY OF CLEARWATER
February 12, 2001
Present:
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Brian J. Aungst
J. B. Johnson
Ed Hart
Robert Clark
F. David Hemerick
Chair
Vice-Chair/Trustee
Trustee
Trustee
Trustee
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Also present: William B. Horne II
. Pamela K: Akin
Lee Dehner
Paul O'Rourke
Cynthia E. Goude~u
Brenda Moses
Interim City Manager
City Attorney
Pension Trustees Attorney .
Human Resources Administrator
City Clerk
Board Reporter
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02/12/01
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The Chair called the meeting to order at 1 :07 p.m. at City Hall.
To provide continuity for research, items are in agenda order although not necessarily .
, ' .' discussed in that order.
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ITEM #2 - Approval of Minutes:
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Trustee Johnson moved to approve the minutes of the January 1 ~, 2001, meeting,
as recorded a'nd submitted in written summation by the City Clerk to each Trustee. The
motion was duly seconded and carried unanimously.
ITEM #3 - Reauest for Acceptance into Membershio:
The Human Resources Administrator presented the recommendation of the Pension
Advisory Committee to approve membership for the employees listed below:
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Richard Clayton, Maurice Hunter, Beverly Ice, Christopher Potts, & Melanie Hasbur9h
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Trustee Hart moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
ITEM #4 - Reauest for Pension:
The Interim City Manager presented the recommendation of the Pension Advisory
, Committee that Phillip Gatewood & Peter Verhoeven be granted regular pensions under,
Section(s) 2.393 and 2.397 of the Employees' Pension Plan.
, Phmip Gatewood was employed on December 2, ,1974, and his pension service
, credit is effective on May 25, 1975. His pension will be effective February 1, 2001.
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. Based on an average salary of approximately $36,693 per 'year over the past 5
years, the formula for computing regular pensions, and Mr. Gatewood's selection of the
, 50% Joint & Survivor Annuity; this pension will approximate $26,881 annually.
PeterVerhoeven was employed on January 17, 1972, and his pension service credit
. is effective on December 2, 1979. His pension will be effective February 1, 2001.
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Based on an average salary of approximately $49,041 per year over the past 5
, years, the formula for computing regular pensions, and Mr. Verhoeven's selection of the
Joint & Surv!vor Annuity, this pension will approximate $28,527 annually.
These pensions were. approved by the PAC on January 11, 2001. 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. Section 2.393 (p) also
provides for normal retirement eligibility when a pafticipant has completed 20 years of.
credited service in a type of employment described as "hazardous duty" and further
specifically defines service as a Fire Support Manager as meeting the hazardous' duty
criteria. 'Mr. Gatewood qualifies under'the age 55 and 20 years of service criteria and Mr.
Ve'rhoeven qualifies under the hazardous duty criteria.
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Trustee Johnson 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 - Adjournment:
The meeting adjourned at 1 :08 p.m.
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ATTEST: '
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02/12/01
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