04/15/2002 (2)
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PENSION
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'.' .Board of Trustees of the Employees" .
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Pension Fund \
Minutes
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ACTION AGENDA
Board of Trustees of the Employees' Penslon Fund
April 16t 2002 - 9:00 a.m. '
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1 ~.: " Call to Order ~ 9:21 a;m.
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Approval of Minutes: 03/18/02 - Approved
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Request for acceptance into membership: Kim Peterson, Raymond Gallu'cciol Melanie Klndredl
'lance KfaUch. Edward lear, Robert Russell, Ronald FrancIs. - Approv~d . . . '..
Regula~,Pel1s1on(s) to' ~e' granted: Charles J. Dunn. Jr., Charles Flowe;s"Patrlcia Buzek. and
Thomas Walbolt. - Approved '
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. Pension to be vested: Carla qolllns. - Approved
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.' .6;, Other Business - Paul O'Rouke thanked Commissione'rs
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Adjourn - 9:22 8.m.
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TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
CITY OF CLEARWATER
April 15, 2002.
Present:
. Brian J. Aungst
Whitney Gray
Hoyt P. Hamilton
William C, Jonson
Frank Hibbard
Chair
Trustee
Trustee
Trustee
Trustee
Also present:
City Manager
City Attorney
Pension Trustees Attorney
Finance Director
City Clerk ,
Board Reporter
William B. Horne II
Pamela K. Akin
Lee Dehner
Margie Simmons .
Cynthia E. Goudeau
Patricia O. Sullivan :
The Chair called the meeting to order at 9:21 a.m. at City Hall.
To provide continuity for research. items are in agenda order although not
,necessarily discussed In that order.
ITEM 112 - Approval of Minutes:
, Trustee jonson moved to approve the minutes of the March 18. 2002, meeting, as
. recorded and submitted in written summation by the City Clerk to each Trustee.. The
motion was duly seconded and carried unanimously.
ITEM #3 - Request for Acceptance into Membership:
The City Manager presented the PAC IPension Advisory Committee)
. recommendation to approve membership for employees:
Kim Peterson, Raymond Galluccio, Melanie Kindred, Lance Kielich. Edward Lear, Robert
Russell, and Ronald Francis '
. Trustee Gray'moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
Item #4 - Regular Pensions to be Qranted:
The City Manager presented the PAC recommendation that Charles J. Dunn, Jr.,
Charles Flowers. Patricia Buzek. and Thomas Walbolt be granted regular pensions under
Section(s) 2.393 and 2.397 of the Employees' Pension Plan.
Charles J. Dunn., Jr., Police Officer, Police Department, was employed by the City
on June 5, 1973, and his pension service credit Is effective on that date, His pension will
be effective June 1, 2002. Based on an average salary of approximately $63,917 per
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04/15/02
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year over the past five years, the formula for computing regular pensions, and Mr. Dunn's
selection of the 75% Joint & Survivor Annuity, this pension will approximate $43,184
annually.
Charles Flowers, Fire Deputy Chief, Fire Department, was employed by the City on
February 14, 1977, and his pension service credit is effective on that date, His pension
will be effective September 1, 2002. Based on an average salary of approximately
$62,612 per year over the past five years, the formula for computing regular pensions,
and Mr. Flowers' selection of the 100% Joint & Survivor Annuity, this pension will
approximate $43,298 annually.
Patricia Buzel(, Senior Accountant, Finance Department, was employed by the City
on December 19, 1977, and her pension service credit is effective on November 2, 1989,
Her pension will be effective April 1, 2002. Based on an average salary of approximately
$50,439 per year over the past five years, the formula for computing regular pensions,
and Ms. Buzek's selection of the 100% Joint & Survivor Annuity, this pension will
approximate $10,134 annually.
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Thomas Walbott, Recreation Supervisor, Parks & Recreation Department, was
employed by the City on April 4, 1966, and his pension service credit is effective on
September 4, 1976. His pension will be effective April 1; 2002. Based on an average
salary of approximately $41,629 per year over the past five years, the formula for
computing regular pensions, and Mr. Walbolt's selection of the Ufe Annuity, this pension
will approximate $31,975 annually.
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04/15/02
These pensions were approved by the Pension Advisory Committee on March 14,
2002. Section 2.393 (p) provides for normal retirement eligibility when a participant has
completed twenty years of credited service in a type of employment described as
"hazardous duty" and further specifically defines service as a Police Officer and Fire
Deputy Chief as meeting the hazardous duty criteria. Mr. Dunn and Mr. Flowers qualify
under the hazardous duty criteria, Section 2.393 (p) also provides for normal retirement
eligibility when ~ participant has reached age 55 and completed twenty years of credited
service, has completed thirty years of credited service, or has reached age 65 and
completed ten years of credited service. Ms, Buzek qualifies under the age 65 and ten
years of service criteria. Mr. Walbolt qualifies under the age 55 and twenty years of
service criteria.
Trustee Hamilton moved t~at Charles J. Dunn, Jr., Police Department; Charles
Flowers, Fire Department; Patricia Buzek, Finance Department; and Thomas Walbolt,
Parks & Recreation Department, be granted regular pensions under Section Is} 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 - Pension to be vested:
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The City Manager presented the recommendation of the Pension Advisory
Committee that Carla ColUns be allowed to vest her pension under Section(s) 2.397 and
2.398 of the Employeesf Pension Plan.
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, . ,I,.' Carla Collins, Police Service Technician, Police Department, was employed by the
City on August 19, 1986. M's. Collins terminated from City employment on May 3, 2002.
. The Employees' Pension Plan provides that should an employee cease to be an
employee of the City of Clearwater after completing ten 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 2.3~3 (p) provides for normal retirement eligibility when a participant has
reached age 55 and completed twenty years of credited service, has completed 30 years
of credited service, or has reached age 65 and completed ten years of credited service..
Ms. Collins would have completed twenty years of service and reached age 55 on April
13, 2011. Her pension will be effective May 1, 2011. This pension was approved by the
Pension Advisory Committee on March 14, 2002. .
Trustee Jonson moved that Carla Collins, Police Department, be allowed to vest her
,pension under Section(s) 2.397 and 2:398 of the Employees' Pension Plan as approved by
the Pension Advisory Committee. The motion was duly seconded and carried
'. unanimously.' '
'r-' Item #6 - Other Business
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Human Resources Director PaulO' Rourke thanked Commissioner Gray for chairing
the April 11, 2002, Pension Advisory Committee meeting and Commissioners Hamilton
, .
. and Hibbard for their diligence and patience during the extended meeting.
, ITEM #7 - Adjournment
The meeting adjourned at 9:22 a.m.
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