08/15/2011 TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING MINUTES
CITY OF CLEARWATER
ALIgUSt 15, 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.
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 3:13 p.m. at City Hall.
2. Approval of Minutes
2.1 Approve the minutes of the July 18, 2011 Pension Trustees Meeting as
submitted in written summation by the City Clerk.
Trustee John Doran moved to approve the minutes of the July 18, 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 Pension
Date Elig. Date
Sherman Young, Police Officer/Police 5/23/11 5/23/11
Nathaniel Bowne, Custodial Worker/Parks & 1/15/04 4/9/11
Recreation
Matthew Jackson, Planner II/Planning & Development 5/31/11 5/31/11
Nathaniel Browne originally was hired as part-time on November 15, 2004;
transferred to full-time and pension eligible as of April 9, 2011
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Trustee George Cretekos 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 Dirk Curls, Police Department; Stephen
Doherty, Engineerinq Department; and Marlinda Neal, Customer Service
Department, for a regular pension as provided by Sections 2.397 and 2.398 of
the Employees' Pension Plan.
Dirk Curls, Police Sergeant, Police Department, was employed by the City on January
7, 1985, 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 $87,439 per
year over the past five years, the formula for computing regular pensions, and Mr. Curls'
selection of the 75% Joint & Survivor Annuity, this pension will approximate $64,641
annually.
Stephen Doherty, Engineering Specialist 1, Engineering Department, was employed by
the City on August 19, 1985, and his pension service credit is effective on that date. His
pension will be effective September 1, 2011. Based on an average salary of
approximately $60,730 per year over the past five years, the formula for computing
regular pensions, and Mr. Doherty's selection of the Life Annuity, this pension will
approximate $47,636 annually.
Marlinda Neal, Senior Customer Service Representative, Customer Service
Department, was employed by the City on August 17, 1981, and her pension service
credit is effective on that date. Her pension will be effective September 1, 2011. Based
on an average salary of approximately $45,253 per year over the past five years, the
formula for computing regular pensions, and Ms. Neal's selection of the 10-year Certain
& Life Annuity, this pension will approximate $37,036 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.
Doherty qualifies under the age 55 and twenty years of service criteria. Ms. Neal
qualifies under the 30 years of service criteria. Mr. Curls qualifies under the hazardous
duty criteria.
Trustee Paul Gibson moved to approve the requests of employee Dirk Curls, Police
Department; Stephen Doherty, Engineering Department; and Marlinda Neal, Customer
Pension Trustees 8/15/2011 2
Service 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 Brian Murphree, Parks and Recreation
Department, and Steven DeSimone, Gas Department, to vest their pensions as
provided by Section 2.397 of the Employees' Pension Plan.
Brian Murphree, Landscape Manager, Parks and Recreation Department, was
employed by the City on November 20, 2000, and began participating in the Pension
Plan on that date. Mr. Murphree terminated from City employment on June 17, 2011.
Steven DeSimone, Gas Technician 111, Gas Department, was employed by the City on
July 16, 1990, and began participating in the Pension Plan on that date. Mr. DeSimone
terminated from City employment on June 23, 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. Murphree would have completed at least 20 years of service and reached age 55 on
July 24, 2028. His pension will be effective August 1, 2028. Mr. DeSimone would have
completed at least 20 years of service and reached age 55 on September 12, 2016. His
pension will be effective October 1, 2016.
Trustee Bill Jonson moved to approve the request of employee Brian Murphree, Parks
and Recreation Department, and Steven DeSimone, Gas Department, to vest their
pensions as provided by Section 2.397 of the Employees' Pension Plan. The motion
was duly seconded and carried unanimously.
4. Other Business — None.
5. Adjourn
The meeting was adjourned at 3-14 p.m.
Pension Trustees 8/15/2011 3
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Pension Trustees 8/15/2011 4