07/09/2001 (2)
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,.'.',"PENSION
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":Qoard, of Trustee~ of 'the Employees,'
Pension Fund
Minutes
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ACTION AGENDA
Boar~ of Trustees of the Employees; Pension Fund
July 9, 2001
1.
Call t!' Order - 12:24 p.m~
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.2; , ,Approval of Minutes: 6/18/01 - Approved.
3. 'Request for acceptance Into membership: Jack Bruce, Kay Norred, Jennifer Wargin,
. Anthony Tedesco, Greg Newland, Melody Benbow; Kristin Wolanski, Jeremy,
. Albrecht, Oeedra Chatman, Jeffrey Nolan, Thomas Meagher, Brandon Kinnecom,
Arnold Retzer, Jr., Cherie Epley, & ~odney Byrd- Approved.
.4~ Regular Pe'nsion(s) to b.e' granted: Wallace Green - Approved..
. 5.. Pens'i~n(s) to be vested: Lori 'Metzner - Approved.
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6. Approve .contract with CapitaI' Guardian Trust Company as domestic large cap value
equity manager for Employees' Pension Plan - Pulled.
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7. ' Recommend Commission" pass Ord. #6826-01 on 1 st reading & adopt on 2nd reading
which will correct technical errors in Pension Plan - Approved. '
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8. Othe(Business - item ra Chief Klein's application for inclusion in Pension Plan. to be
agendaed'for 8/13/01.
, ' 9. " Adjourn - 12:29 p.m.
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'TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
CITY OF CLEARWATER
July 9, 2001
Present:
Ed Hart
Whitney' Gray
Hoyt P. Hamilton
William C. Jonson
Vice-Chair/Trustee
Trustee
Trustee
Trustee
Absent:
Brian J., Aungst'
Chair
Als~present: Pamela K. Akin
, Paul O'Rourke '
Cynthia E. Goudeau
. Patricia O. Sullivan
City Attorney
Human Resources Administrator
City Clerk
Board Reporter
The Chair called the meetin~ to order at 12:24 p;m. at City Hall.
To provide continuity for research, items are in agenda order although not ,
necess'arily discussed in, that order.
ITEM '#2 -' Approval of Minutes:
Tru~tee Gray moveq to approve the minutes of the June 18, 2001, meeting, as
recorded and submitted in written summation by the City Clerk to each Trustee. The
motion was duly seconded and carried un~nimously.
ITEM #3 - Request for Acceptance Into Membership:
The Inte'~im City Manager presented the PAC (Pension Advisory Committee)
recommendation to approve membe~ship for the listed employees:
Jack Bruce, Kay Norred, Jennifer Wargin, Anthony Tedesco, Greg Newland, Melody
Benbow, Kristin Wolanski, Jeremy Albrecht, Deedra Chatman, Jeffrey Nolan, Thomas
Meagher, Brandon Kinnecom, Arnold Retzer, Jr., Cherie Epley, & Rodney Byrd
Trustee Gray moved to accept the recommendation of the Pension Advisory
~ommitiee" The mot~on was duly seconded and carried unanimously.
ITEM #4 - Request for Pension:
The Interim City Manager presented the PAC recommendation that Wallace Green
, 'be granted a regular pension under Se.ction{s) 2.393 and 2.397 of the Employees' Pension
Plan. ' ,
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07/09/01
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Wallace Green was employed on August 6, 1979, and his p,ension service credit is
effective on that date. His 'pension will be effective September 1, 2001. Based on an
average salary of approximately $42,315 per year over the past 5 years, the formula for
computing regular pensions, and Mr. Greents selection of the 100% Joint & Survivor
Annuity, this pension will approximate $25,295 annually.
The PAC approved the pension on June 14, 2001. 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 further specifically defines
service' as a Firefighter as'meeting the hazardous duty criteria. Mr. Green qualifies under
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.
Trustee Hamilton moved to grant Wallace Green, Fire Department, a regular pension
" under Section(s) 2.393 and 2.397 of the Employees' Pension Plan as approved by the
Pension Advisory Committee. The motion was duly seconded and carried unanimously.
ITEM #5 - Reauest to Vest Pension:
The Interim City Manager presented the recommendation of the Pension Advisory
Committee that Lori Metzner be allowed to vest her pension under Section Is) 2.397 ahd
2.398 of the Employees' Pension Plan. '
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, ,.~~-I! Lori Metzner previously worked for the City and vested her pension after 10 years
of service. She returned to employment on September 6, 1994 and her pension service
credit date was' adjusted to June 30, 1989. She again terminated from employment on
June 1, 2001. 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 employe~ 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.
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Section 2.393(pl 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, orhas reached age 65 and completed 10 years of credited service. Ms.
Metzner would have completed 20 years of service and reached age 55 on January 1,
2010. Her pension will be effective on February 1, 2010. PAC approved this request on
June 14, 2001.
Trustee Jonson moved to allow Lori Metzner, Library Department, to'vest her
pension under Section(sl 2.397 and 2.398 of the Employeest Pension Plan as approved by
the Pension Advisory Committee. The motion ~as d,uly seconded and carried unanimously.
mpf0701
07/09/01
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ITEM #6 ~AoDrove contract with Capital Guardian Trust Companv as domestic larae cap
valueeauitv mananer for Emolovees' Pension Plan
Human Resources Administrator Paul O'Rourke stated this item has been pulled.
The contract is under review.
ITEM #7 - Recommend Commission pass Ord. #6826.01 on 1 st readinq & adopt on 2nd
readinCl which will correct technIcal errors in Pension Plan
It recently' was discovered several technical errors are contained in the Pension Plan
codification as it appears in the City of Clearwater Municipal Code of Ordinances. On June
14, 2001, the PAC recommended approval of the corrections.
Re'commended corrections: 1) language in Section 2.397, subsection (f), granting
'1.5% cost ,of living allowance effective April 1, 2000, be added back into the ordinance
and current subsections (f) and (g) be renumbered as subsections (g) and (hI; 2) Section
, 2.398, time. and manner of benefit payments, subsection (a) 11 )c. 1. be amended to indicate
the guarantee of ,1 20 payments for disability benefits applies only to police officer and,
firefighter, participants; and 3) Section 2.398, time and manner of benefit payments, ,
subsection (b)(2)a.3. be amended to indicate that the 66 2/3 percent payment option
applies only to police officer and firefighter participants~
, Trustee jonson moved to recommend the City Commission approve Ordinance
#6826-01 to correct technical errors in the Employees' Pension Plan.' The motion was duly
seconded and carried unanimously.
ITEM #8 - Other Business:
Mr. O'Rourke reported Stephen Cypen, of Cypen & Cypen, had replied to the City
regarding Pol!ce Chief Sid Klein's attorney's request for pre litigation mediation related to
his application for inclusion in the Pension Plan. The item will be agendaed for August 13;,
2001.
ITEM #9 - Adiournment:
The meeting adjourned at 12:29 p.m.
ATTEST: ~t. IL-P..,
, " City Clerk '
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