08/12/2010
PENSION ADVISORY COMMITTEE MEETING MINUTES
CITY OF CLEARWATER
August 12, 2010
Present: Tom Jensen Vice-Chair
John Doran Committee Member/Councilmember
Paul Gibson Committee Member/Councilmember
Brian De Witt Committee Member
Bill Jonson Committee Member/Councilmember
Absent: Nathan Hightower Chair
John Schmalzbauer Committee Member
Also Present: Joe Roseto Human Resources Director
Patricia O. Sullivan Board Reporter
The Vice-Chair called the meeting to order at 9:00 a.m. at City Hall.
To provide continuity for research, items are in agenda order although not
necessarily discussed in that order.
2 - Approval of Minutes
2.1. Approve minutes of the regular Pension Advisory Committee meeting of July 8, 2010, as
submitted in written summation to each board member
Member Doran moved to approve the minutes of the regular Pension Advisory
Committee meeting of July 8, 2010, as submitted in written summation to each board member.
The motion was duly seconded and carried unanimously.
3 - Review and Action on Employee Requests for Regular Pension
3.1. Recommend approval of employee requests for regular pensions, as listed
Mark Carlson, Construction Inspector II, Engineering Department
, was employed by
the City on January 26, 1981, and his pension service credit is effective on that date. His
pension will be effective November 1, 2010. Based on an average salary of approximately
$50,018 per year over the past five years, the formula for computing regular pensions, and Mr.
Carlson’s selection of the 100% Joint & Survivor Annuity, this pension will approximate $40,115
annually.
Gregory Wolfe, Gas Technician III, Gas Department
, was employed by the City on
November 19, 1990, and his pension service credit is effective on that date. His pension will be
effective December 1, 2010. Based on an average salary of approximately $47,159 per year
over the past five years, the formula for computing regular pensions, and Mr. Wolfe’s selection
of the 75% Joint & Survivor Annuity, this pension will approximate $26,025 annually.
Elaine Muldowney, Customer Service Representative, Gas Department
, was
employed by the City on September 28, 1987, and her pension service credit is effective on that
Pension Advisory 2010-08-12 1
date. Her pension will be effective September 1, 2010. Based on an average salary of
approximately $35,980 per year over the past five years, the formula for computing regular
pensions, and Ms. Muldowney’s selection of the 10-Year Certain & Life Annuity, this pension will
approximate $24,779 annually.
Joseph Arrien, Fleet Manager, Solid Waste/General Services Department
, was
employed by the City on October 4, 1982, and his pension service credit is effective on that
date. His pension will be effective August 1, 2010. Based on an average salary of
approximately $66,645 per year over the past five years, the formula for computing regular
pensions, and Mr. Arrien’s selection of the Life Annuity, this pension will approximate $58,547
annually.
Muhammad Abdur-Rahim, Stormwater Maintenance Manager, Public Services
Department,
was employed by the City on March 20, 1974, and his pension service credit is
effective on October 3, 1983. His pension will be effective November 1, 2010. Based on an
average salary of approximately $70,564 per year over the past five years, the formula for
computing regular pensions, and Mr. Abdur-Rahim’s selection of the Joint & Survivor Annuity,
this pension will approximate $52,475 annually.
Cynthia Goudeau, City Clerk, Official Records & Legislative Services Department
,
was employed by the City on November 27, 1978, and her pension service credit is effective on
October 1, 1979. Her pension will be effective October 1, 2010. Based on an average salary of
approximately $96,259 per year over the past five years, the formula for computing regular
pensions, and Ms. Goudeau’s selection of the 50% Joint & Survivor Annuity, this pension will
approximate $84,583 annually.
Section 2.393 provides for normal retirement eligibility when a participant has completed
thirty years of credited service, has reached age 55 and completed twenty years of credited
service, or has reached age 65 and completed ten years of credited service. Messrs. Carlson,
Wolfe, and Arrien, and Ms. Muldowney, qualify under the 20 years of service and at least age
55 criteria and Ms. Goudeau qualifies under this criteria and the 30 years of service criteria.
Member Doran moved to recommend approval of employee requests for regular
.
pensions, as listedThe motion was duly seconded and carried unanimously.
4 - Review and Action on Employee Requests to Vest Pensions
4.1. Recommend approval of employee requests to vest pensions, as listed
Katrina Breedlove, Senior Systems Programmer, Information Technology
Department,
was employed by the City on June 12, 2000, and began participating in the
Pension Plan on that date. Ms. Breedlove terminated from City employment on July 2, 2010.
Jim Sokol, Electronics Technician, Engineering Department,
was employed by the
City on January 8, 1996, and began participating in the Pension Plan on that date. Mr. Sokol
terminated from City employment on July 2, 2010.
Pension Advisory 2010-08-12 2
Ami Beery, Customer Service Coordinator, Customer Service Department,
was
employed by the City on January 19, 1999, and began participating in the Pension Plan on that
date. Ms. Beery terminated from City employment on August 6, 2010.
David Marshall, Police Officer, Police Department,
was employed by the City on June
9, 1997, and began participating in the Pension Plan on that date. Mr. Marshall terminated from
City employment on July 15, 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.
Breedlove would have completed 20 years of service and reached age 55 on October 2, 2026.
Her pension will be effective November 1, 2026. Mr. Sokol would have completed 10 years of
service and reached age 65 on June 16, 2013. His pension will be effective July 1, 2013. Ms.
Beery would have completed twenty years of service and reached age 55 on August 14, 2025.
Her pension will be effective September 1, 2025. Section 2.393 (p) also 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 as meeting the hazardous duty criteria. Mr. Marshall would have completed 20
years of service on June 9, 2017. His pension will be effective July 1, 2017.
Member Jonson moved to recommend approval of employee requests to vest pensions,
as listed. The motion was duly seconded and carried unanimously.
5 - Approval of New Hires as Plan Members
5.1. Recommend acceptance of new hires into Pension Plan, as listed.
Pension
Name, Job. Class, & Dept./Div . Hire Date Elig. Date
Gervis Ochoa, Administrative Analyst/Public Utilities 06/21/10 06/21/10
Jeremy Kotter, Solid Waste Worker/Solid Waste-General Svcs. 02/15/10 07/17/10
Robert Bostick, Solid Waste Worker/Solid Waste-General Svcs. 03/04/10 07/17/10
Michael Finocchio, WWTP Operator Trainee/Public Utilities 05/24/10 07/17/10
Sean Witherspoon, Electronics Technician/Engineering 07/19/10 07/19/10
Jeremy Kotter originally was hired as temporary on February 15, 2010; status changed
to permanent and pension eligible as of July 17, 2010. Robert Bostick originally was hired as
temporary on March 4, 2010; status changed to permanent and pension eligible as of July 17,
2010. Michael Finocchio originally was hired as temporary on May 24, 2010; status changed to
permanent and pension eligible as of July 17, 2010.
Pension Advisory 2010-08-12 3
Member Doran moved to recommend acceptance of new hires into Pension Plan as
listed. The motion was duly seconded and carried unanimously.
6 - Director's Report:
Human Resources Director Joe Roseto said the City Council had approved moving
forward with changes to the Pension Plan. General fund reserves will pay for the process. The
goal is to submit changes for referendum in 2012.
7 - Committee Members to be Heard:
Members thanked retiring employees for their hard work for the City and its citizens.
Special notice was made regarding efforts by Cyndie Goudeau and Muhammad Abdur-Rahim.
Members Jonson and Doran will attend fall FPPTA (Florida Public Pension Trustees
Association) training.
Item not on the Agenda
A resident recommended reducing Pension Plan expenses.
8 - Adjourn
The meeting adjourned at 9:19 a.m
C1
Chair
Pension Advisory Committee
Pension Advisory 2010-08-12 4