09/12/2005
TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING MINUTES
CITY OF CLEARWATER
September 12, 2005
Present: Frank Hibbard Chair
William C. Jonson Trustee
Hoyt Hamilton Trustee
Carlen Petersen Trustee
John Doran Trustee
Also Present: William B. Horne, II City Manager
Garry Brumback Assistant City Manager
Rod Irwin Assistant City Manager
Pamela K. Akin City Attorney
Cynthia E. Goudeau City Clerk
Patricia O. Sullivan Board Reporter
The Chair called the meeting to order at 9:22 a.m. at City Hall.
To provide continuity for research, items are in agenda order although not
necessarily discussed in that order.
Approval of Minutes:
Trustee Doran moved to approve the minutes of the August 15, 2005, regular meeting,
as recorded and submitted in written summation by the City Clerk to each Trustee. The
motioncarried
was duly seconded and unanimously.
Pension Trustees Items
1. Accept the employees listed into membership in the City of Clearwater's Employees'
Pension Plan: Shannon Shepard, Rebecca Davis, Joseph Fishback, Barry LeCavalier, Thomas
Galbo, Jonathan Yuen, Kenneth Hay, Ahmad Jackson, Betty Jane Hoskins, David Pettay,
Ryan Lonchar, Robert Bishop, David Rooker, Deidre Jones, Aileen Howard, Darcy Hunt, and
Peter Keresztes,
The Pension Advisory Committee recommended that these employees be accepted
into membership in the City of Clearwater's Employees' Pension Plan.
Trustee Petersen moved to accept the recommendation of the Pension Advisory
motioncarried
Committee. The was duly seconded and unanimously.
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2. Mark F. Cairns, Fire Department, and Mark D. Love, Fire Department, be granted regular
pensions under Sections 2.393 and 2.397 of the Employees’ Pension Plan as approved by the
Pension Advisory Committee.
Mark F. Carins, Firefighter, Fire Department, was employed by the City on September
10, 1973, and his pension service credit is effective on that date. His pension will be effective
September 1, 2005. Based on an average salary of approximately $49,540 per year over the
past five years, the formula for computing regular pensions, and Mr. Cairns’ selection of the
100% Joint & Survivor Annuity, this pension will approximate $42,962 annually.
Mark D. Love, Firefighter/Driver Operator, Fire Department, was employed by the City
on August 28, 1978, and his pension service credit is effective on that date. His pension will
be effective September 1, 2005. Based on an average salary of approximately $51,635 per
year over the past five years, the formula for computing regular pensions, and Mr. Love’s
selection of the 100% Joint & Survivor Annuity, this pension will approximate $37,382 annually.
These pensions were approved by the Pension Advisory Committee on August 11,
2005. Section 2.393 provides for normal retirement eligibility when a participant has
completed twenty years of credited service in a type of employment described as “hazardous
duty” and further defines service as a Firefighter and Firefighter Driver/Operator as meeting the
hazardous duty criteria. Mr. Cairns and Mr. Love qualify under the hazardous duty criteria.
Trustee Jonson moved that Mark F. Cairns, Fire Department, and Mark D. Love, Fire
Department, be granted regular pensions under Sections 2.393 and 2.397 of the Employees’
motion
Pension Plan as approved by the Pension Advisory Committee. The was duly
carried
seconded and unanimously.
3. Gregory Turman, Public Utilities Department; Glenn Weaver, Engineering Department; and
Ronald Reist, General Services Department, be allowed to vest their pensions under Sections
2.397 and 2.398 of the Employees’ Pension Plan as approved by the Pension Advisory
Committee.
Gregory Turman, Public Utilities Supervisor II, Public Utilities Department, was
employed by the City on August 13, 1984, and began participating in the Pension Plan on that
date. Mr. Turman terminated from City employment on July 29, 2005.
Glenn Weaver, Signal Systems Engineer, Engineering Department, was employed by
the City on March 20, 1989, and began participating in the Pension Plan on that date. Mr.
Weaver terminated from City employment on July 29, 2005.
Ronald Reist, Fleet Mechanic, General Services Department, was employed by the City
on January 15, 1991, and began participating in the Pension Plan on that date. Mr. Reist
terminated from City employment on August 5, 2005.
The Employees’ Pension Plan provides that should an employee cease to be an
employee of the City of Clearwater after completing ten or more years of creditable service
(pension participation), such employee shall acquire a vested interest in the retirement
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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. Turman would have completed at
least 30 years of service on August 13, 2014. His pension will be effective September 1,
2014. Mr. Weaver would have completed at least 20 years of service and reached age 55 on
March 20, 2009. His pension will be effective April 1, 2009. Mr. Reist would have completed
at least 20 years of service and reached age 55 on January 15, 2011. His pension will be
effective February 1, 2011.
These pensions were approved by the Pension Advisory Committee on August 12,
2005.
Trustee Petersen moved that Gregory Turman, Public Utilities Department, Glenn
Weaver, Engineering Department, and Ronald Reist, General Services Department, be
allowed to vest their pensions under Sections 2.397 and 2.398 of the Employees’ Pension
motion
Plan as approved by the Pension Advisory Committee. The was duly seconded and
carried
unanimously.
4. Approve the recommended administrative expenditures for Employees' Pension Plan fiscal
year 2005-06 totaling $376,500.
The Employees’ Pension Plan does not have a legal requirement to have a budget.
The Trustees must approve all expenditures. The following are routine expenditures that staff
is requesting approval for the sake of efficiency.
These expenditures involve routine business matters and are mostly small dollar
amounts: 1) Medical bills are the medical services that the Pension Advisory Committee
authorizes; 2) Printing and binding is for the statutorily required annual information distribution
to the members of the pension plan; and 3) Travel and training is for the mandatory training
required by State statute for PAC (Pension Advisory Committee) Members, Trustees, and
Investment Committee Members.
Included with these numbers is the annual authorization for our pension attorneys,
Klausner & Kaufman. Money manager, safekeeping, actuary, and pension administration fees
are all set by contracts approved by the Trustees and are not included here. Reimbursement
to the General Fund and the Self Insurance Fund is for the cost of oversight of the Plan and is
recognized as revenue to the funds. This reimbursement covers the services provided by the
Human Resources (some of these employees are paid out of the Self Insurance Fund),
Payroll, and Finance Departments.
Trustee Hamilton moved to approve the recommended administrative expenditures for
motion
Employees' Pension Plan fiscal year 2005/06 totaling $376,500. The was duly
carried
seconded and unanimously.
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. Other Business: - None.
Adiourn
The meeting adjourned at 9:24 a.m.
Attest:
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Pension Trustees 2005-09-12
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chair
Employee's Pension Plan Trustees
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