03/12/2012 TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING MINUTES
CITY OF CLEARWATER
March 12, 2012
Present: Chair/Trustee George N. Cretekos, Trustee Paul Gibson, Trustee
Doreen Hock-DiPolito, Trustee Bill Jonson, and Trustee Jay E.
Polglaze.
Also Present: William B. Horne II - City Manager, 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 in agenda order although not
necessarily discussed in that order.
1. Call to Order— Chair George N. Cretekos
The meeting was called to order at 1:06 p.m. at City Hall.
2. Approval of Minutes
2.1 Approve the minutes of the February 13, 2012 Pension Trustees meeting as
submitted in written summation by the City Clerk.
Trustee Bill Jonson moved to approve the minutes of the February 13, 2012 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 the new hires for acceptance into the Pension Plan as listed.
Pension
Name, Job. Class. & Dept./Div .. Hire Date Elig. Date
James Halios, Landscape Maint. Coord./Parks & Rec. 1/3/12 1/3/12
Lanette Richards, Utilities Chemist/Public Utilities 1/3/12 1/3/12
Pension Trustees 2012-03-12 1
Trustee Doreen Hock-DiPolito moved to approve the new hires for acceptance into the
Pension Plan as listed. The motion was duly seconded and carried unanimously.
3.2 Approve the request of employee Thomas Long, Parks and Recreation
Department, for a regular pension as provided by Sections 2.397 and 2.398 of
the Employees Pension Plan.
Thomas Long, Tradesworker, Parks and Recreation Department, was employed
by the City on June 30, 1990, and his pension service credit is effective on that
date. His pension will be effective April 1, 2012.
Based on an average salary of approximately $44,751 per year over the past five
years, the formula for computing regular pensions, and Mr. Long's selection of the
100% Joint & Survivor Annuity, this pension will approximate $25,728 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. Mr. Long qualifies under the age 55 and twenty years of
service criteria.
Trustee Jay E. Polglaze moved to approve the request of employee Thomas Long,
Parks and Recreation 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 Louise Schult, Police Department, to vest her
pension as provided by Section 2.397 of the Employees Pension Plan.
Louise Schult, Police Service Technician, Police Department, was employed by
the City on May 18, 1994, and began participating in the Pension Plan on that
date. Ms. Schult terminated from City employment on December 19, 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.
Pension Trustees 2012-03-12 2
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. Ms. Schult would have completed at least 10 years of service
and reached age 65 on May 8, 2013. Her pension will be effective June 1, 2013.
Trustee Paul Gibson moved to approve the request of employee Louise Schult, Police
Department, to vest her pension 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 1:08 p.m.
— eVAYV. CPC W-OS
Chair
Attest Employees' Pension Plan Trustees
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Pension Trustees 2012-03-12 3