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09/12/2005 Pension Trustees Agenda Date: 09/12/2005 Location: Council Chambers - City Hall Call to Order Approval of Minutes 08-15-2005 Pension Trustee Items 1. Accept the employees listed below into membership in the City of Clearwater's Employees' Pension Plan. 2. Mark F. Cairns, Fire Department, and Mark D. Love, Fire Department, be granted regular pensions under Section(s) 2.393 and 2.397 of the Employees' Pension Plan as approved by the Pension Advisory Committee. 3. Gregory Turman, Public Utilities Department; Glenn Weaver, Engineering Department; and Ronald Reist, General Services Department, be allowed to vest their pensions under Section(s) 2.397 and 2,398 of the Employees' Pension Plan as approved by the Pension Advisory Committee. 4. Approve the recommended administrative expenditures for Employees' Pension Plan fiscal year 2005-06 totaling $376,5000. Other Business Adjourn Pension Trustees Agenda 9/12/2005 Page 1 of 1 f :~. Pension Trustee Cover Memorandum Trackinq Number: 1,552 Actual Date: 09/12/2005 Subiect / Recommendation: Accept the employees listed below into membership in the City of Clearwater's Employees' Pension Plan. Summary: Pension Elig. Name, Job. Class, & Dept.jDiv. Hire Date Date Shannon Shepard, Police Cadet/Police 6/13/05 6/13/05 Rebecca Davis, Americorps Clearwater Coordinator/Police 6/20/05 Joseph Fishback, Utilities Chemist/Public Utilities 6/13/05 6/13/05 Barry LeCavalier, Utilities Chemist/Public Utilities 7/11/05 7/11/05 Thomas Galbo, Police Officer/Police 7/11/05 7/11/05 Jonathan Yuen, Police Officer/Police 7/11/05 7/11/05 Kenneth Hay, Parking Technician/Engineering 7/11/05 7/11/05 Ahmad Jackson, Custodial Worker/Parks & Recreation 7/11/05 7/11/05 Betty Jane Hoskins, Personnel Payroll Technician/Police 7/11/05 7/11/05 David Pettay, Customer Service Rep.jCustomer Service 7/11/05 7/11/05 Ryan Lonchar, Police Officer/Police 7/11/05 7/11/05 Robert Bishop, Police Officer/Police 7/11/05 7/11/05 David Rooker, Parks Service Technician I/Parks & Recreation 7/11/05 Deidre Jones, Fire Public Educ. & Information Spec.jFire 7/11/05 Aileen Howard, Librarian I/Library 7/11/05 7/11/05 Darcy Hunt, Police Cadet/Police 7/11/05 7/11/05 Peter Keresztes, WWTP Operator Trainee/Public Utilities 7/25/05 7/25/05 6/20/05 7/11/05 7/11/05 Oriqinatinq: Human Resources Review Approval Cvndie Goudeau 09-01-2005 09:18:52 f :~. Pension Trustee Cover Memorandum Trackinq Number: 1,551 Actual Date: 09/12/2005 Subiect / Recommendation: Mark F. Cairns, Fire Department, and Mark D. Love, Fire Department, be granted regular pensions under Section(s) 2.393 and 2.397 of the Employees' Pension Plan as approved by the Pension Advisory Committee. Summary: 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. Oriqinatinq: Human Resources Review Approval Cvndie Goudeau 09-01-2005 09:19:56 f :~. Pension Trustee Cover Memorandum Trackinq Number: 1,553 Actual Date: 09/12/2005 Subiect / Recommendation: Gregory Turman, Public Utilities Department; Glenn Weaver, Engineering Department; and Ronald Reist, General Services Department, be allowed to vest their pensions under Section(s) 2.397 and 2.398 of the Employees' Pension Plan as approved by the Pension Advisory Committee. Summary: 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 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. Oriqinatinq: Human Resources Review Approval Cvndie Goudeau 09-01-2005 09:18:16 Crystal Report Viewer Pension Trustee Cover Memorandum Trackinq Number: 1,567 Actual Date: 09/12/2005 Subiect / Recommendation: Approve the recommended administrative expenditures for Employees' Pension Plan fiscal year 2005-06 totaling $376,500. Summary: 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. Medical bills are the medical services that the Pension Advisory Committee authorizes. Printing and binding is for the statutorily required annual information distribution to the members of the pension plan. Travel and training is for the mandatory training required by state statute for PAC 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. Oriqinatinq: Finance Review Approval Margie Simmons 08-22-2005 16:04:48 Cyndie Goudeau 09-02-2005 09:39:33 Bill Horne 09-01- 2005 17:30:28 Tina Wilson 08-23-2005 06:24:59 Garry Brumback 09-01- 2005 10:51:33 http://netfyi/NetFYl/Clients/0214f3cO-f93e-4b 15-9d73-931373cb74cl/9913F5C7.hl1n (I of2)6/27/2006 12:29:58 PM City of Clearwater Employees' Pension Plan Administrative Expenses IncreaselD Description FY 05/06 FY 04/05 ecrease Printing $ 750 $ 750 Misc 750 750 Training 5,000 2,500 2,500 Travel Expense 5,000 4,500 500 Medical Bills 7,000 7,000 Reimbursement to Self Insurance Fund (Human Resources) 45,000 24,000 21,000 Physicals 38,000 35,000 3,000 Reimbursement to General Fund (Finance & Payroll) 85,000 84,000 1,000 Klausner & Kaufman 140,000 140,000 Costs of conducting a Referendum 50,000 50,000 $ 376,500 $ 298,500 $ 78,000 ....! C5 I.... 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O"'.Q Q.Q.~ E E Q) WWo... 0000 C'? 000 "<tCOI"-OO I"-"<t"<t"<t ...- ...- ...- IJ') IJ') IJ') Klausner & Kaufman Invoice 9/30/2004 10/29/2004 11/30/2004 12/31/2004 1/31/2005 2/25/2005 3/31/2005 4/29/2005 5/31/2005 6/30/2005 5,157.14 12,352.20 5,509.39 9,619.75 8,416.06 12,027.20 3,067.90 5,494.30 8,243.19 5,673.12 $ 75,560.25 Pension Figures for Budget 2005/06 Salary (biweekly figure) Debbie Ford Dina Hyson Vickie Davenport/Sherilla Pittman/ Michelle Sheldon Anna Fierstein Allen Del Prete Sara DeBella Joe Roseto TOTAL Physicals: Post-offer physical Post-offer police/fire physical Post-offer Com. Ctr. Physical Back screenings. Respirator physicals TOTAL GRAND TOTAL 30.0 x 26.303446 2.0 x 33.315077 5.0 x 19.280047 10.0 x 27.618618 3.0 x 32.830786 10 x 23.214111 4.0 x 43.946667 1734 x 26 = 150 x 70 30 x 355 (male Police) 15 x 385 (female Police) 2 x 405 (female Fire) 10 x 355 (male Fire) 6 x 230 (male) 6 x 280 (female) 20 x 20 20 x 140 789 67 96 276 98 232 176 $45,084 10,500 10,650 5,775 810 3550 1,380 1,680 400 2,800 $37,545 $82,629 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 !: 0 1.0 0 0 0 0 0 II) 0 0 1.0 1.0 0 (j) ..- 0 0 I"- 0 1.0 l"- I"- N 00 CO CI> CJ) - - tFt tFt tFt ..- ..- 1.0 N N OJ CI> !: ..- tFt tFt tFt N ... CI> tFt tFt C'Cl OJ c.. f!:! .c:: ... - C'Cl - !: (.) .c:: (.) C'Cl CI> ca (.) CI> .c:: E i;: CJ) !: ca f!:! E 0 !: '0 0 '.;::::; 0 0 ... U C'Cl '.;::::; - >. ... C'Cl CI> ~ "C c.. c.. CI> CI> ~ 0 - c.. CJ) ::J ~ ~ ~ ~ 0 ::::l ~ ~ ~ ~ 0 ...... I.... ..c ::J ::J ::J .c:: >. "C ::J ::J ::J ::J ::J 0 0 0 - ;:: <C 0 0 0 0 0 1.0 ..c ..c ..c !: C'Cl ..c ..c ..c ..c ..c I"- 0 0 1.0 0 CI> ..- N N N N C'? 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CI) Q) _CI) CIl Q) I C Q) Q) ...J C 0 ~ I- Q) Q) Q) Q) Q) OJ c.. ..c Q) Q) Q) Q) Q) .S:2 0 LL. Cii ..I<: Q. Q. Q. Q. Q. CIl ..c (,) Q. Q. Q. Q. Q) - >. 0 Q) Q) (,) - - 0 - c - m (,) (j) ::J Q) 0 0 0 0 0 c 0 0 0 0 0 ...J "'0 I.... CI) 0 0 0 CIl ~ 0 ~ (j) c Q) S ..c Q) Q) Q) Q) Q) 0 0 0 Q) Q) Q) Q) Z W 0 c LL. 0 0... 0... 0... 0... 0... 0... 2: ..- N 0... 0... 0... 0... i< 2: i.i: w 0 ..- <( Salary (Monthly Amounts) Margie Simmons Jay Ravins Bill Kleinsorge Steve Moskun Carol Barden 10.0 x 53.69 8.0 x 39.30 5.0 x 27.59 20.0 x 33.59 3.5 x 13.70 644 10-20 hours per month 377 166 605 58 1,850 Total Annual 1792 x 12 = 22,194 * Note - Hourly wage taken off of budget sheet, 20% additional for benefits.