11/01/2010
TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
MINUTES
CITY OF CLEARWATER
November 1, 2010
Present: Chair/Trustee Frank Hibbard, Trustee George N. Cretekos, Trustee John
Doran, Trustee Paul Gibson, and Trustee Bill Jonson.
Also William B. Horne II - City Manager, Jill S. Silverboard - Assistant City
present: Manager, Rod Irwin - Assistant City Manager, Pamela K. Akin - City Attorney,
Rosemarie Call - City Clerk, and Patricia O. Sullivan - Board Reporter.
To provide continuity for research, items are in agenda order although not
necessarily discussed in that order.
1. Call to Order - Chair/Trustee Frank Hibbard
The meeting was called to order at 9:06 a.m. at City Hall.
2. Approval of Minutes
2.1 Approve the minutes of the October 18, 2010 Pension Trustees meeting as
submitted in written summation by the City Clerk.
Trustee Bill Jonson moved to approve the minutes of the October 18, 2010 Pension
Trustees meeting as submitted in written summation by the City Clerk. The motion was
duly seconded and carried unanimously.
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3. Pension Trustee Items
3.1 Approve new hires for membership into Pension Plan as listed.
Pension
Name, Job. Class, Dept./Div. Hire Date Elig.
Date
Nicole Allen, Design & Mapping
8/30/10 8/30/10
Tech./Engineering
Chris Daugherty, Design & Mapping
8/30/10 8/30/10
Tech./Engineering
Kelly Hollinger, Accounting
4/21/03 9/11/10*
Clerk/Finance
Eric Kelly, Solid Waste Equip. Oper./Solid
9/13/10 9/13/10
Waste/Gen.Ser.
Ann Marie Hughes, Accounting Clerk/Finance 9/13/10 9/13/10
Dale Marion, WWTP Operator Trainee/Public
9/13/10 9/13/10
Utilities
Kari Connor, Accounting Clerk/Solid Waste/General
9/13/10 9/13/10
Ser.
Sheri Bowers, Accounting Clerk/Information
9/20/10 9/20/10
Technology
William Olive, Police Com.
9/27/10 9/27/10
Oper./Police
Martin Tobin, Systems Prog./Information
9/27/10 9/27/10
Technology
Leanne Walker, Library
3/15/10 9/25/10**
Assistant/Library
*originally hired on 4/21/03 as part-time; voluntarily demoted and pension eligible
as of 9/13/10
**originally hired on 3/15/10 as part-time; promoted and pension eligible as of
9/25/10
Trustee John Doran moved to approve new hires for membership into Pension Plan as
listed. The motion was duly seconded and carried unanimously.
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3.2 Approve the request of employee Margie Simmons, Finance Department, for a
regular pension as provided by Sections 2.397 and 2.398 of the Employees
Pension Plan.
Margaret Simmons, Finance Director, Finance Department, was employed by the
City on September 20, 1982, and her pension service credit is effective on that
date. Her pension will be effective March 1, 2011. Based on an average salary of
approximately $113,248 per year over the past five years, the formula for
computing regular pensions, and Ms. Simmons' selection of the 100% Joint and
Survivor Annuity, this pension will approximate $87,475 annually. Section 2.397
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. Ms. Simmons qualifies under the 20 years of service and at least age 55
criteria.
Trustee George N. Cretekos moved to approve the request of employee Margie
Simmons, Finance Department, for a regular pension as provided by Sections 2.397
and 2.398 of the Employees Pension Plan. The motion was duly seconded and carried
unanimously.
3.3 Approve the administrative rule governing the return of employee contributions.
The City of Clearwater Employees’ Pension Plan provides for a return of
employee contributions upon an employee’s termination should it occur prior to
the employee’s early retirement date or normal retirement date.
The Plan defines an employee as any person employed as a full-time permanent
employee. At times employees will transfer from full-time permanent status to
part-time permanent status. Upon this change in status, the employee is no
longer eligible to participate in the Plan.
There is an ambiguity in the Plan, as full-time employees who have become part-
time are not allowed to participate in the Plan. Under these circumstances, the
employee should be entitled to a return of his/her contributions. Staff is asking
that the Trustees adopt an administrative rule governing the refund of employee
contributions.
In response to questions, Human Resources Director Joe Roseto said the
City does not provide tax advice but encourages employees who request the
return of their contributions to contact a tax advisor.
Discussion ensued regarding the origin of the ordinance requirement that the
plan pay 5% simple interest on returned employee contributions. It was
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recommended that this amount be reviewed when other changes to the
pension are considered.
Trustee Paul Gibson moved to approve the administrative rule governing the return of
employee contributions. The motion was duly seconded and carried unanimously.
4. Other Business - None.
5. Adjourn
The meeting was adjourned at 9:12 p.m.
Chair
Employee's Pension Plan Trustees
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