02/04/2002 (2)
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:(TRUSTEES)
. '. B~ard of l'rust~esof ~he Employ~e,s':.
,Pension ,Fund
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.' ACTION AGENDA, . , .
Board of Trustees of the Employees' Pension' Fund
, February 4,2002 - 9:00 a.m..
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Convene as Pension Trustees: c
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.1. Call to Order
2. . Approval of Minutes: 01122/02 - Approved
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Request-for acceptance into membership: Daniela Riccellit Jarred Stifft Charles'
Redinger, Dana Harrison, Arban Goodrum. .Kurt Zamor,.David Ganote, Joel,
'. .,',Morley, Norma Skinner, John Bennett,' Jeff McCannt VernardBerrien, James
.' Jones, Jr., 'Mark Viola; Todd Johnson, Kris Familiari, Steve Salagaras, David.
c., " : Demarest, Timothy Downes, Edmund Kardauskas. Lisa Brownt Rachel Franklin;
. '. Suzanne Judge, & Renee McS~ain. - Approved
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:, , .4:,. ,Regular Pension(s) to be granted: Michael Teyner & Joh~ H. Jeffries-
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, Other Business '
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TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
CITY OF CLEARWATER
February 4, 2002
Present:
Brian J. Aungst
Ed Hart
Whitney Gray
Hoyt P. Hamilton
Chair
Vice-Chair/Trustee
Trustee
Trustee
Absent: '
William C. Jonson
Trustee
Also present:
William B. Horne II
Pamela K. Akin
Lee. Dehner.
PaulO I Rourke .
Cynthia E; Goudeau
Patricia O. Sullivan
City Manager
City Attorney
Pension Trustees Attorney
Human Resources Director
City Clerk
Board Reporter
The Chair called the meeting to order at 9:05 a.m. at City Hall.
To provide , continuity for research, items are in agenda order although not
n,ecessarily discussed in that order. '
'ITEM #2 - Approval ot' Minutes:.
Trustee Hamilton moved to approve the minutes oJ the January 22, 2002, meeting,
as recorded and submitted in written summation by the City Clerk to each Trustee. The
mo'tion was duly seconded and carried unanimously. The motion was duly seconded and
carried 'unanimously., I
ITEM #3 - Request for Acceptance into Membership:
'; Human Resources Administrator PaulO' Rourke presented the recommendation of
the Pellsion Advisory Committee to approve membership for employees: Daniela Riccelli,
Jarred Stiff, Charles Redinger, Dana Harrison, Arban Goodrum, Kurt Zamor, David Ganote,
Joel Morley, Norma Skinner, John Bennett, Jeff McCann, Vernard Berrien, James Jones,
Jr.; Mark Viola, Todd Johnson, Kris Familiari, Steve Salagaras, David Demarest, Timothy
Do~nes, Edmund Kardauskas, ,Lisa Brown, Rachel Franklin, Suzanne Judge~ and Renee
McSwain. .
Trustee Gray moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
ITEM #4 - Requests for Pension
. Mr. O'Rourke presented the recommendation of the Pension Advisory Committee
. that Michael Teyner and John H. Jeffries be granted regular pensions under Sections
, 2.393 and 2.397 of the Employees' Pension Plan.
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02/04/02
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Michael Teyner was employed on October 27, 1980, and his pension service credit
is effective on that date. His pension will be effective April 11. 2002. Based on an
av.erage salary of $36,310 per year over the past 5 years, the formula for computing
regular pensions, and Mr: Teyner's selection of the Joint & Survivor Annuity, this pension
will approximate $ 21,341 annually.
John H. Jeffries was employed on February 2, 1977, and his pension service credit
. is effective. on that date. His pension will be effective March 1, 2002. Based on an
average salary of $46,163 per ye.ar over the past 5 years, the' formula for computing
.. regular pensions, and Mr. Jeffries' selection of the Joint & Survivor Annuity, this pension
will approximate $ 31,741 .annually. '
The. PAC (Pension A~visory Committee) approved these pensions, on Jan.uary 10,
2002. Section 2.393 (p) provides for normal retirement eligi~i1ity 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.
Messrs.. Teyner and Jeffrie~ qualify under the age 55 and 20 years of service criteria.
Trustee Hamllton moved to grant regular pensions for Michael Teynef and John H.
Jeffries be granted under Sections 2.393 and 2.397 of the Employees' Pension Plan, as
approved by the PAC accept. the recommendation of the Pension Advisory Committee.
The ~otlon was duly seconded and carried unanimously.
ITEM #5 - Other Business
Human Resources Director Paul O'Rourke said the assumption analysis, completed
,by Actuary Steve Metz, will be presented to the.Tru'stees in Marc~.
ITEM #6 - Adjournment
The meeting adjourned at 9:06 a.l)1.
Chfr~
Board of Pension Trustees
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02104/02
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