Loading...
09/08/2011 PENSION ADVISORY COMMITTEEMEETING MINUTES CITY OF CLEARWATER September 8, 2011 Present: Chair Nathan Hightower, Vice-Chair Tom Jensen, Committee Member/Councilmember John Doran, Committee Member/Councilmember Paul Gibson, Committee Member Brian De Witt, Committee Member/Councilmember Bill Jonson, Committee Member Daniel Slaughter Also present: Joe Roseto – Human Resources Director, Patricia O. Sullivan- Board Reporter 1. Call to Order at 9:00 a.m. 2. Approval of Minutes 2.1 Approve the minutes of the August 18, 2011, Pension Advisory Committee meeting as submitted in written summation. Member Doran moved to approve Item 2.1. The motion was duly seconded and carried unanimously. 3. Employees to be Heard: None. 4. Review and Action on Employee Requests for Regular Pension 4.1 Recommend approval of the request of employee John Scacca, Police Department, for a regular pension as provided by Sections 2.397 and 2.398 of the Employees’ Pension Plan. John Scacca, Police Sergeant, Police Department , was employed by the City on August 20, 1979, 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 $90,860 per year over the past five years, the formula for computing regular pensions, and Mr. Scacca’s selection of the 66 2/3% Joint & Survivor Annuity, this pension will approximate $81,964 annually. Section 2.397 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. Scacca qualifies under the hazardous duty criteria. Member DeWitt moved to approve Item 4.1. The motion was duly seconded. In response to questions, Human Resources Director Joe Roseto discussed the calculation of retirement benefit options. Retiree pensions are capped at 100% of salary. If a beneficiary percentage other than the standard one is chosen, an actuary calculates the benefit. Pension Advisory 9/8/2011 1 Upon the vote being taken, the motion carried unanimously. 5. Approval of New Hires as Plan Members: 5.1 Recommend approval of new hires for acceptance into the Pension Plan as listed. Hire Date Elig. Date Brian Munoz, Police Officer/Police 02/02/05 08/01/11 * *originally employed in November 1, 2004; resigned April 29, 2011 and withdrew pension contributions; withdrew resignation and returned to work August 1, 2011 pension eligible as of this date. Member Jensen moved to approve Item 5.1. The motion was duly seconded and carried unanimously. 6. Director's Reports Jack DeShazo Mr. Roseto said the CD re Jack DeShazo’s application for a non-job connected disability was distributed. The City has no available jobs that Mr. DeShazo can do. The Pension Attorney is reviewing the case. Mr. Roseto recommended the PAC (Pension Advisory Committee) schedule the hearing for next month. Member Doran moved to schedule a hearing for Jack DeShazo’s disability application on October 13, 2011. The motion was duly seconded and carried unanimously. Thomas Stubblefield appeal Mr. Roseto reported Pension Attorney Stuart Kaufman had represented the Plan before the Appellate Court last week during oral arguments on Thomas Stubblefield’s appeal of the Circuit Court judgment favoring PAC’s decision to withdraw his disability pension. Pension Advisory 9/8/2011 2 7. Committee Members to be Heard On behalf of staff, members complimented Deb Ford and the Human Resources Department for the information and help they provide employees when they plan to retire. Members thanked John Scacca for his service to the City and its residents. Member Gibson said he could not attend the October meeting. 8. Adjourn The meeting adjourned at 9:20 a.m. Chair Attest / Pension Advisory Committee Board Report: Pension Advisory 9/8/2011 3