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07/12/2012 PENSION ADVISORY COMMITTEEMEETING MINUTES CITY OF CLEARWATER July 12, 2012 Present: Chair Nathan Hightower, Vice-Chair Tom Jensen, Committee Member/Councilmember Paul Gibson, Committee Member Brian De Witt, Committee Member Daniel Slaughter, Committee Member/Councilmember Doreen Hock-DiPolito Absent: Committee Member/Councilmember Bill Jonson Also present: Allen Del Prete – Human Resources Manager, Patricia O. Sullivan - Board Reporter 1. Call to Order The Chair called the meeting to order at 9:00 a.m. at City Hall. 2. Approval of Minutes 2.1 Approval of Minutes of June 14, 2012, Pension Advisory Committee meeting as submitted in written summation. Member DeWitt 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 employees Steve Bocho of the Solid Waste/General Services Department; Lawrence G. Gallop of the Engineering Department; Gordon Jerrell of the Gas Department and Russell Carter of the Parks and Recreation Department for a regular pension as provided by Sections 2.397 of the Employees’ Pension Plan. Steve Bochno, Administrative Analyst, General Services, was employed by the City on January 28, 1991, and his pension service credit is effective on that date. His pension will be effective July 1, 2012. Based on an average salary of approximately $49,377.05 per year over the past five years, the formula for computing regular pensions, and Mr. Bochno’s selection of the 100% Joint and Survivor Annuity, this pension will approximate $28,225.32 annually. Lawrence G. Gallop, Survey Assistant II, Engineering Department, was employed by the City on April 23, 1984, and his pension service credit is effective on that date. His pension will be effective August 1, 2012. Based on an average salary of approximately $39,109.50 per year over the past five years, the formula for computing regular pensions, and Mr. Gallop’s selection of the Joint and Survivor Annuity, this pension will approximate $30,332.40 annually. Gordon Jerrell, Service Dispatcher, Gas Department, was employed by the City on September 11, 1980, and his pension service credit is effective July 13, 1992. Pension Advisory Committee 7/12/2012 1 Gordon Jerrell, Service Dispatcher, Gas Department, was employed by the City on September 11, 1980, and his pension service credit is effective July 13, 1992. His pension will be effective August 1, 2012. Based on an average salary of approximately $37,972.61 per year over the past five years, the formula for computing regular pensions, and Mr. Jerrell's selection of the Joint and Survivor Annuity, this pension will approximate $20,884.92 annually. Russell Carter, Athletic Field Coordinator, Parks and Recreation Department, was employed by the City on December 21, 1987, and his pension service credit is effective on that date. His pension will be effective October 1, 2012. Based on an average salary of approximately $59,818.14 per year over the past five years, the formula for computing regular pensions, and Mr. Carter's selection of the 100% Joint and Survivor Annuity, this pension will approximate $39,866.88 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. Messrs. Bochno, Gallop, Jerrell, and Carter qualify under the age 55 and 20 years of service criteria. Member Jensen moved to approve Item 4.1. The motion was duly seconded and carried unanimously. 5. Review and Action on Employee Requests to Vest Pensions 5.1 Recommend approval of the request of employee Douglas Pulver, General Services to vest his pension as provided by Section 2.397 of the Employees' Pension Plan. Douglas Pulver, Fleet Mechanic, General Services Department, was employed by the City on May 27, 1986, and began participating in the Pension Plan on that date. Mr. Pulver terminated from City employment on June 18, 2012. 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 2.393 (p) 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. Pulver would have completed at least 20 years of service and will reach age 55 on July 16, 2013. His pension will be effective August 1, 2013. Member Jensen moved to approve Item 5.1. The motion was duly seconded and Pension Advisory Committee 7/12/2012 2 carried unanimously. 6. Approval of New Hires as Plan Members 6.1 Recommend approval of the new hires for acceptance into the pension plan as listed. Hire Date Elig. Date Kevin Salzer, Planner III/Planning and Development 06/04/12 06/04/12 Andrew McCormick, Public Utilities Tech/Public Utilities 06/18/12 06/18/12 Chad Paukert, Parks Service Tech I/Parks & Recreation 06/18/12 06/18/12 Darla Ismail, Police Comm. Operator Trainee/Police 06/18/12 06/18/12 Christopher Dahmer, Police Comm. Oper. Trainee/Police 06/18/12 06/18/12 Roger Beatty, Engineer Specialist/Engineering 06/18/12 06/18/12 Gina Trieste, HR Analyst/Human Resources 06/18/12 06/18/12 Member Gibson moved to approve Item 6.1. The motion was duly seconded and carried unanimously. 7. Director's Reports: None. 8. Committee Members to be Heard: None. 9. Adjourn The meeting adjourned at 9:01 a.m. VC/ /w� fi0/04 Chair Attest ' Pension Advisory Committee :oard Repo er Pension Advisory Committee 7/12/2012 3