01/11/2010
TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
MINUTES
CITY OF CLEARWATER
January 11, 2010
Present: Chair/Trustee Frank Hibbard, Trustee George N. Cretekos, Trustee John
Doran, Trustee Paul Gibson, and Trustee Carlen Petersen.
Also William B. Horne II - City Manager, Jill S. Silverboard - Assistant City
present: Manager, Rod Irwin - Assistant City Manager, Pamela K. Akin - City Attorney,
Cynthia E. Goudeau - City Clerk, and Karen Vaughan - Administrative
Analyst.
To provide continuity for research, items are in agenda order although not necessarily
discussed in that order.
1. Call to Order
The meeting was called to order at 9:35 a.m. at City Hall.
2. Approval of Minutes
2.1 Approve the minutes of the December 14, 2009 Pension Trustees Meeting as
submitted in written summation by the City Clerk.
Trustee Carlen Petersen moved to approve the minutes of the December 14, 2009
Pension Trustees Meeting as submitted in written summation by the City Clerk. The
motion was duly seconded and carried unanimously.
3. Pension Trustee Items
3.1 Employees listed below be accepted into membership in the City of Clearwater
Employees’ Pension Plan as approved by the Pension Advisory Committee.
Pension Name, Job Classification, & Department/Division Hire Date Elig. Date
Scott Lipp, Parks Service Technician/Parks & Rec. 10/25/09 10/26/09
Trustee John Doran moved to accept the Employees listed below into membership in
the City of Clearwater Employees’ Pension Plan as approved by the Pension Advisory
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Committee. The motion was duly seconded and carried unanimously.
3.2 Terry Teunis, Police Department, and Carol Schmidt, Police Department, be
granted regular pensions under Section(s) 2.393 and 2.397 of the Employees
Pension Plan as approved by the Pension Advisory Committee.
Terry Teunis, Police Lieutenant, Police Department, was employed by the City on
January 17, 1990, and his pension service credit is effective on that date. His
pension will be effective February 1, 2010.
Based on an average salary of approximately $90,725 per year over the past five
years, the formula for computing regular pensions, and Mr. Teunis’ selection of
the 100% Joint & Survivor Annuity, this pension will approximate $49,102
annually.
Carol Schmidt, Police Officer, Police Department, was employed by the City on
June 30, 1986, and her pension service credit is effective on that date. Her
pension will be effective February 1, 2010.
Based on an average salary of approximately $71,780 per year over the past five
years, the formula for computing regular pensions, and Ms. Schmidt’s selection of
the 10-Year Certain & Life Annuity, this pension will approximate $46,547
annually.
These pensions were approved by the Pension Advisory Committee on December
10, 2009. Section 2.393 provides for normal retirement eligibility when a
participant has completed twenty years of credited service or has reached age 55
and completed ten years of credited service in a type of employment described as
“hazardous duty” and further defines service as a Police Lieutenant and Police
Officer as meeting the hazardous duty criteria. Mr. Teunis and Ms. Schmidt qualify
under the hazardous duty criteria.
Trustee George N. Cretekos moved to grant Terry Teunis, Police Department, and
Carol Schmidt, Police Department, regular pensions 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.
3.3 Gina Henry, Parks & Recreation Department, and Jon Marcin, Finance
Department, be allowed to vest their pensions under Section(s) 2.397 and 2.398
of the Employees Pension Plan as approved by the Pension Advisory Committee.
Gina Henry Recreation Programmer, Parks & Recreation Department, was
employed by the City on January 15, 1990, and began participating in the Pension
Plan on that date. Ms. Henry terminated from City employment on October 30,
2009.
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Jon Marcin, Risk Management Specialist, Finance Department, was employed by
the City on May 9, 1994, and began participating in the Pension Plan on that
date. Mr. Marcin will terminate from City employment on March 19, 2010.
The Employees’ Pension Plan provides that should an employee cease to be an
employee of the City of Clearwater or change status from full-time to part-time
after completing ten or more years of creditable service (pension participation),
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 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. Henry would have completed 20 years of service and
reached age 55 on February 4, 2013. Her pension will be effective March 1,
2013. Mr. Marcin would have completed 10 years of service and reached age 65
on June 19 2011. His pension will be effective July 1, 2011. These pensions were
approved by the Pension Advisory Committee on December 10, 2009.
Trustee Paul Gibson moved to allow Gina Henry, Parks & Recreation Department, and
Jon Marcin, Finance Department, to vest their pensions 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.
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4. Other Business - None.
5. Adiourn
The meeting was adjourned at 9:36 a.m.
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Chair
Employee's Pension Plan Trustees
Attest
Pension Trustees 2010-01-11
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