05/14/2001 (2)
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',' '. ':,: Board of Trustees of the Employees'
Pension' Fund,'
Minutes
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ACTION AGENDA
" Board of Trustees of the Employees' Pension Fund
.', Ma'y 14, 200 J '
'1; "Call to, Order - 1:09 p.m.
'2. Approval of Minutes: 4/2/01 - Approved as submitted.
3. ' ' Request for acceptance into membership: Timothy Buis, 'Deven Filer, Donathan Clark,
Jay Ne'al, Timothy Coleman, TrEl;yis Lowei,Barbara Buchinsky, Eric McBride, Angela
, Aldrich, Benjamin Hailey, Steve White, Rodney Rivera, John Mascatelli, Eric McGraw,
, ,Christopher Lyons, Laman Green, JohnRementer, S~ott Maurer, Suzanne Ruley,
, Stanley' Conard, Roy Ree,l, JoAnn Stinyard, Kelly King, Linda Beli,nske, Jason Clark, &
, , ,', . SC,ott Oster - Approved.
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Regular' Pensian(s) to be granted: Margaret 'Jewett, Nancy Burgarella, & Wilson
'McGill ~ Approved. ,
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5.,' Pension(s) to be vested: Patricia Schrembs - Approved.
6. Other Business - None.
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7. A~journ - 1 :11' p.m.
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TRUSTEES OF THE EMPLOVEES' PENSION FUND MEETING
CITY OF CLEARWATER
May 14, 2001
Present:
Brian J. Aungst
Ed Hart
Whitney Gray
Hoyt P. Hamilton
William C. Jonson
Chair
Vice-Chair/Trustee
Trustee
Trustee
Trustee
Also present: William B. Horne 11
Pamela K. Akin
Lee Dehner
PaulO' Rourke
Cynthia E. Goudeau
Brenda Moses
Interim City, Manager
City Attorney
. Pension Trustees Attorney
Human Resources Administrator
City Clerk
Board Reporter'
The Chair called the meeting to ord~r at 1 :09 p.m. at City Hall. ,
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To provide continuity for research, items are in agenda order although not necessarily
discussed in that order. '
ITEM #2 - Aporoval of Minutes:
Trustee Gray moved to approve the minutes of the April 2, 2001, meeting, as
. recorded and submitted in written summation by the City Clerk to each Trustee. The
motion was 'duly seconded and carried un'animously.
ITEM #3 - Reauest for Acceptance into Membership:
The Human Resources Administrator presented the recommendation of the Pension
" Advisory Committee to approve membership for the employees listed below: .
Timothy Buis, Deven Filer, Donathon Clark, Jay Neal, Timothy Coleman, Travis Lowe,
Barba'ra Buchinsky, Eric McBride, Angela Aldrich, Benjamin Hailey, Steve White, Rodney
Rivera, John Moscatelli, Eric'McGraw, Christopher Lyons, Lamon Green, John Rementer,
Scott Maurer, Suzanne Ruley, Stanley Conard, Roy Reel, JoAnn Stinyard, Kelly King, Linda
Belinske, Jason Clark, & Scott Oster '
Trustee Jonson moved to accept the recommendation of the Pension Advisory
C'!mmittee. The motion was duly seconded and carried unanimously.
ITEM #4 - Reauest for Pension:
Mr. O'Rourke presented the recommendation of the Pension Advisory Committee
that Margaret Jewett, Nancy Burgnrella, & Wilson McGill be granted regular pensions under
Section(s) 2.393' and 2.397 of the Employees' Pension Plan. '
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05/14/01
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, These pensions were approved by the PAC on April 12, 2001. Section 2.393 (p)
provides for normal retirement eligibility when a participant has completed 20 years of
:,.dnl) credited service in a type of employment described as "hazardous duty" and further
~.~..l specifically defines service as a Police Officer as meeting the hazardous duty criteria.
Section 2.393 (p) also 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.
Jewett 'and Ms. Burgarella qualify under the hazardous duty criteria. Mr. McGill qualifies
under the age 55 and 20 years of service and 30 years of service criteria.
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Margaret Jewett was employed on November 23, 1979, and her pension service
credit is effective on that date. Her pension will be effective September 1, 2001.
Based on an average salary of approximately $47,499 per year over'the past 5
years, the formula for computing regular pensions, and Ms. Jewett's selection of the 100%
Joint, & Survivor Annuity, this pension will approximate $ 28,083 annually.
. Nancy Burgarella was employed on October 18, 1971, and her pension service
. credit is effective on April 18, 1972. Her pension will be effective September 1, 2001.
Based on an average salary of approximately $47,660 per year over the past 5
years, the formula for computing regular pensions, and Ms. Burgarella's selection of the
100% Joint & Survivor Annuity, this pension will approximate $37,9i9 annually.
Wilson MC(3i11, Jr. was employed on June 23, 1967, and his pension service credit
.. is effective on that date. His pension will be effective July 1, 2001.
Based on an average salary of approximately $43,647 per year over the past 5
years, the formula for computing regular pensions, and Mr. McGill's selection of the 75%
Joint & Survivor Annuity, this pension will approximate $39,488 annually. '
Trustee Hamilton moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
ITEM #5 - Reauest to Vest Pension:
Mr. O'Rourke presented the recommendation of the Pension Advisory Committe'e
that Patricia Schrembs be allowed to vest her pension under Section(s) 2.397 'and 2.398 of
the Employees' Pension Plan.
Patricia Schrembs was employed on January 28, 1991, and her pension service
credit is effective on that date. She terminated from City employment on March 30, 2001.
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06/14/01
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, The Employees' Pension Plan provides that should an employee c~ase to bo'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, has completed 30 years of
credited service, or has reached age 65 and completed 10 years of credited service. Ms.
Schrembs would' have completed 10 years of service and reached age 65 on March 1 7,
2003., Her pension will be effective on April 1, 2003. This request was approved by the
,PAC on April 12, 2001.,
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" . Trustee Hamilton moved to accept the recommendation of the Pension Advisory
Committee. The mot~on was duly seconded and carried una,nimously.
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ITEM #6 - Other Business
Mr. O'Rourke said PAC (Pension Advisory Committee) Member Dick Fitzgerald is
now Ch~tir .of the PAC, replacing former Chair Aungst.
Mr. O'Rourke said required investment training for the Trustees has been sche~uled
for June 14 and ,19, 2001.
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