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07/18/2011 PENSION TRUSTEES AGENDA Location: Council Chambers - City Hall Date: 7/18/2011- 8:30 AM 1. Call to Order 2. Approval of Minutes 2.1Approve the minutes of the May 31, 2011 Pension Trustees meeting as submitted in written summation by the City Clerk. Attachments 3. Pension Trustee Items 3.1Approve the new hires for acceptance in the Pension Plan as listed. Attachments 3.2Approve the requests of employee Glen Altomare, Public Utilities Department; Robert Schneider, Public Utilities Department; Earl Barrett, Engineering Department; Robert Kinchen, Police Department, and Mark Trulock, Police Department, for a regular pension as provided by Sections 2.397 and 2.398 of the Employees’ Pension Plan. Attachments 4. Other Business 5. Adjourn Pension Trustees Agenda Council Chambers - City Hall Meeting Date:7/18/2011 SUBJECT / RECOMMENDATION: Approve the minutes of the May 31, 2011 Pension Trustees meeting as submitted in written summation by the City Clerk. SUMMARY: Review Approval: Cover Memo D R A F T Council 5/31/2011 1 75867((62)7+((03/2<((6¶3(16,21)81'0EETING MINUTES CITY OF CLEARWATER May 31, 2011 Present: Chair/Trustee Frank Hibbard, Trustee George N. Cretekos, Trustee John Doran, Trustee Paul Gibson, and Trustee Bill Jonson. Also Present: Jill S. Silverboard - Assistant City Manager, Rod Irwin - Assistant City Manager, Pamela K. Akin - City Attorney, Rosemarie Call - City Clerk, and Nicole Sprague ± Official Records and Legislative Services Coordinator. Unapproved To provide continuity for research, items are agenda order although not necessarily discussed in that order. 1. Call to Order ± Chair Frank Hibbard The meeting was called to order at 9:50 a.m. at City Hall. 2. Approval of Minutes 2.1 Approve the minutes of the May 16, 2011 Pension Trustees Meeting as submitted in written summation by the City Clerk. Trustee Paul Gibson moved to approve the minutes of the May 16, 2011 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 Approve new hires for acceptance in the Pension Plan as listed. Name, Job. Class, & Dept./Div. Hire Date Pension Elig. Date Patrick Brafford, Water Safety Supervisor/Pks. & Rec. 4/4/11 4/4/11 Maurice Vickers, SW Equip. Oper./Sol. Waste Gen Ser. 4/25/11 4/25/11 Joseph Marshall, SW Equip. Oper./Sol. Waste Gen Ser. 4/25/11 4/25/11 Attachment number 1 Page 1 of 4 D R A F T Council 5/31/2011 2 Stephanie Emrich, Police Com. Oper. Trainee/Police 4/25/11 4/25/11 Joseph Russo, Police Com. Oper. Trainee/Police 4/25/11 4/25/11 Andrew Barnes, Police Com. Oper. Trainee/Police 4/25/11 4/25/11 Jessica Silvas, Police Com. Oper. Trainee/Police 4/25/11 4/25/11 Trustee Bill Jonson moved to approve new hires for acceptance in the Pension Plan as listed. The motion was duly seconded and carried unanimously. 3.2 Approve the requests of employee Sharon Walton, Finance Department; William Patterson, Public Utilities Department; Barbara Amiro, Engineering Department; and Mark Weaver, Police Department, for a regular pension as provided by Sections 2.397 and 2.398 of the Employees Pension Plan. Sharon Walton, Risk Manager, Finance Department, was employed by the City on May 5, 1982, and her pension service credit is effective on that date. Her pension will be effective July 1, 2011. Based on an average salary of approximately $66,114 per year over the past five years, the formula for computing regular pensions, and Mr. Walton's selection of the 100% Joint & Survivor Annuity, this pension will approximate $51,997 annually. William Patterson, Water Plant Operator A, Public Utilities Department, was employed by the City on December 5, 1983, and his pension service credit is effective on that date. His pension will be effective May 1, 2011. Based on an average salary of approximately $53,300 per year over the past five years, the formula for computing regular pensions, and Mr. Patterson's selection of the 100% Joint & Survivor Annuity, this pension will approximate $39,348 annually. Barbara Amiro, Traffic Technician, Engineering Department, was employed by the City on December 22, 1986, and her pension service credit is effective on January 11, 1993. Her pension will be effective July 1, 2011. Based on an average salary of approximately $42,113 per year over the past five years, the formula for computing regular pensions, and Ms. Amiro's selection of the Joint & Survivor Annuity, this pension will approximate $21,657 annually. Mark Weaver, Police Officer, Police Department, was employed by the City on May 14, 1988, and his pension service credit is effective on that date. His pension will be effective May 1, 2011. Based on an average salary of approximately $88,204 per year over the past five years, the formula for computing regular pensions, and Mr. Weaver's selection of the 100% Joint & Survivor Annuity, this pension will approximate $55,131 annually. Attachment number 1 Page 2 of 4 D R A F T Council 5/31/2011 3 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. Section 2.397 also 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 Officer as meeting the hazardous duty criteria. Ms. Walton and Mr. Patterson qualify under the age 55 and twenty years of service criteria. Ms. Amiro qualifies under the age 65 and ten years of service criteria. Mr. Weaver qualifies under the hazardous duty criteria. Trustee John Doran moved to approve the requests of employee Sharon Walton, Finance Department; William Patterson, Public Utilities Department; Barbara Amiro, Engineering Department; and Mark Weaver, Police 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 request of employee Brett Gardner, Engineering Department, to vest his pension as provided by Section 2.397 of the Employees Pension Plan. Brett Gardner, Engineering Department, was employed by the City on December 10, 1984, and began participating in the Pension Plan on that date. Mr. Gardner terminated from City employment on April 28, 2011. 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 2.397) 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. Mr. Gardner would have completed at least 20 years of service and reached age 55 on February 21, 2013. His pension will be effective March 1, 2013. Trustee George N. Cretekos moved to approve the request of employee Brett Gardner, Engineering Department, to vest his pension as provided by Section 2.397 of the Employees Pension Plan. The motion was duly seconded and carried unanimously. Attachment number 1 Page 3 of 4 D R A F T Council 5/31/2011 4 4. Other Business ± None. 5. Adjourn The meeting was adjourned at 9:51 a.m. Chair (PSOR\HHV¶3HQVLRQ3ODQTrustees Attest City Clerk Attachment number 1 Page 4 of 4 Pension Trustees Agenda Council Chambers - City Hall Meeting Date:7/18/2011 SUBJECT / RECOMMENDATION: Approve the new hires for acceptance in the Pension Plan as listed. SUMMARY: Pension Name, Job. Class, & Dept./Div. Hire Date Elig. Date Geoffrey Newton, Police Officer/Police 5/23/11 5/23/11 Andrew Anderson, Police Officer/Police 5/23/11 5/23/11 Robert Main, Police Officer/Police 5/23/11 5/23/11 Justin Howard, Police Officer/Police 5/23/11 5/23/11 James Troutman, WWTP Operator Trainee/Public Utilities 5/23/11 5/23/11 Gregg Kunz, Custodial Worker/Marine & Aviation 4/4/11 5/23/11 * Keri James, Service Dispatcher/Gas 5/23/11 5/23/11 *originally hired as temporary on 4/4/11; transferred to permanent and pension eligible as of 5/23/11 Review Approval: Cover Memo Pension Trustees Agenda Council Chambers - City Hall Meeting Date:7/18/2011 SUBJECT / RECOMMENDATION: Approve the requests of employee Glen Altomare, Public Utilities Department; Robert Schneider, Public Utilities Department; Earl Barrett, Engineering Department; Robert Kinchen, Police Department, and Mark Trulock, Police Department, for a regular pension as provided by Sections 2.397 and 2.398 of the Employees’ Pension Plan. SUMMARY: Glen Altomare, Utilities Mechanic, Public Utilities Department, was employed by the City on August 11, 1986, and his pension service credit is effective on that date. His pension will be effective July 1, 2011. Based on an average salary of approximately $50,357 per year over the past five years, the formula for computing regular pensions, and Mr. Altomare’s selection of the 100% Joint & Survivor Annuity, this pension will approximate $33,440 annually. Robert Schneider, Utilities Mechanic, Public Utilities Department, was employed by the City on February 25, 1991, and his pension service credit is effective on that date. His pension will be effective August 1, 2011. Based on an average salary of approximately $48,065 per year over the past five years, the formula for computing regular pensions, and Mr. Schneider’s selection of the 50% Joint & Survivor Annuity, this pension will approximate $27,848 annually. Earl Barrett, Real Estate Services Coordinator, Engineering Department, was employed by the City on January 14, 1991, and his pension service credit is effective on that date. His pension will be effective August 1, 2011. Based on an average salary of approximately $60,040 per year over the past five years, the formula for computing regular pensions, and Mr. Barrett’s selection of the 50% Joint & Survivor Annuity, this pension will approximate $35,868 annually. Robert Kinchen, Police Sergeant, Police Department, was employed by the City on November 3, 1989, and his pension service credit is effective on that date. His pension will be effective July 1, 2011. Based on an average salary of approximately $87,635 per year over the past five years, the formula for computing regular pensions, and Mr. Weaver’s selection of the Joint & Survivor Annuity, this pension will approximate $52,196 annually. Mark Trulock, Police Sergeant, Police Department, was employed by the City on May 20, 1988, and his pension service credit is effective on that date. His pension will be effective October 1, 2011. Based on an average salary of approximately $100,303 per year over the past five years, the formula for computing regular pensions, and Mr. Trulock’s selection of the 100% Joint & Survivor Annuity, this pension will approximate $63,362 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. Section 2.397 also 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 Sergeant as meeting the hazardous duty criteria. Mr. Altomare, Mr. Schneider, and Mr. Barrett qualify under the age 55 and twenty years of service criteria. Mr. Kinchen and Mr. Trulock qualify under the hazardous duty criteria. 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