04/10/2014 PENSION ADVISORY COMMITTEE MEETING MINUTES
CITY OF CLEARWATER
April 10, 2014
Present: Chair Nathan Hightower, Vice-Chair Daniel Slaughter, Committee Member
Tom Jensen, Committee Member/Councilmember Bill Jonson, Committee Member Bill
Renfroe, Committee Member/Councilmember Hoyt Hamilton
Absent: Committee Member/Councilmember Doreen Hock-DiPolito
Also present: Joe Roseto — Human Resources Director, 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. Employees/Citizens to be Heard: None.
3. Approval of Minutes
3.1 Approve minutes of March 13, 2014 Pension Advisory Committee meeting as
submitted in written summation.
Member Slaughter moved to approve Item 3.1. The motion was duly seconded and
carried unanimously.
4. Review and Action on Employee Requests for Regular Pension
4.1 Recommend approval of the following request of employees Luis Acosta, Public
Utilities Department; Michael Faulkner, Fire Department; and Linda Myers,
Finance Department for a regular pension as provided by Sections 2.416 and
2.424 of the Employees Pension Plan.
Luis Acosta, Utilities Chemist, Public Utilities Department, was employed by the
City on May 30, 1989 and his pension service credit is effective on that date. His
pension will be effective May 1, 2014. Based on an average salary of
approximately $52,580.06 over the past five years, the formula for computing
regular pensions and Mr. Acosta's selection of the 75% Joint and Survivor
Annuity, this pension benefit will be approximately $35,831.16 annually.
Michael Faulkner, Fire Lieutenant, Fire Department, was employed by the City
on September 8, 1992 and his pension service credit is effective on that date.
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His pension will be effective on April 1, 2014. Based on an average salary of
approximately $87,248.49 over the past five years, the formula for computing
regular pensions, Mr. Faulkner's selection of the 10 Year Certain and Life
Annuity and a 30% partial lump sum distribution, this pension benefit will be
approximately $36,180 annually.
Linda Myers, Accountant, Finance Department, was employed by the City on
July 12, 1976 and her pension service credit is effective on that date. Her
pension will be effective May 1, 2014. Based on an average salary of
approximately $47,816.69 over the past five years, the formula for computing
regular pensions and Ms. Myers' selection of the 50% Joint and Survivor
Annuity, this pension will be approximately $51,894.72 annually.
Section 2.416 provides for normal retirement eligibility for non-hazardous duty
employees hired prior to the effective date of this reinstatement (1/1/13), a
member shall be eligible for retirement following the earlier of the date on which
a participant has reached the age of fifty-five (55) years and completed twenty
(20) years of credited service; the date on which a participant has reached age
sixty-five (65) years and completed ten (10) years of credited service; or the date
on which a member has completed thirty (30) years of service regardless of age.
For non-hazardous duty employees hired on or after the effective date of this
restatement, a member shall be eligible for retirement following the earlier of the
date on which a participant has reached the age of sixty (60) years and
completed twenty-five (25) years of credited service; or the date on which a
participant has reached the age of sixty-five (65) years and completed ten (10)
years of credited service. Mr. Acosta and Ms. Myers have met the non-
hazardous duty criteria.
Section 2.416 provides for normal retirement eligibility for hazardous duty
employees, a member shall be eligible for retirement following the earlier of the
date on which the participant has completed twenty (20) years of credited
service regardless of age, or the date on which the participant has reached fifty-
five (55) years and completed ten (10) years of credited service. Mr. Faulkner
has met the hazardous duty 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 Elizabeth Pearce, Parks and
Recreation Department, to vest her pension as provided by Section 2.419 of the
Employees Pension Plan.
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Elizabeth Pearce, Aquatic Programmer, Parks and Recreation Department, was
employed by the City on November 20, 1999, and began participating in the
Pension Plan on that date. Ms. Pearce terminated from City employment on
March 19, 2014.
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 2.416 provides for normal retirement eligibility for non-hazardous duty
employees hired prior to the effective date of this reinstatement (1/1/13), a
member shall be eligible for retirement following the earlier of the date on which
a participant has reached the age of fifty-five (55) years and completed twenty
(20) years of credited service; the date on which a participant has reached age
sixty-five (65) years and completed ten (10) years of credited service; or the date
on which a member has completed thirty (30) years of service regardless of age.
For non-hazardous duty employees hired on or after the effective date of this
restatement, a member shall be eligible for retirement following the earlier of the
date on which a participant has reached the age of sixty (60) years and
completed twenty-five (25) years of credited service; or the date on which a
participant has reached the age of sixty-five (65) years and completed ten (10)
years of credited service. Ms. Pearce will meet the non-hazardous duty criteria
and begin collecting a pension in December 2019.
Member Jonson moved to approve Item 5.1. The motion was duly seconded and 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.
Name, Job Class, & Dept./Div. Pension Eligible Date
Alioune Fall, Meter Reader, Customer Service Department 3/10/2014
Reynold Choo Chew, Accounting Technician, Parks and Rec Dept 3/10/2014
Victor Rosado, Solid Waste Equip. Oper., Solid Waste/Gen Svcs 3/10/2014
John Conyers, Water Plant Operator A, Public Utility Department 3/10/2014
Karla Maffia, Customer Service Representative, Customer Svc Dept 3/10/2014
Caleb Holman, Parks Service Tech I, Parks and Recreation Dept 3/10/2014
Scott Ehlers, Fire Division Chief Emergency Manager, Fire Dept. 3/17/2014
Steve Murphy, Building Construction Inspector, Planning/Dev Dept 3/24/2014
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Sean Blout, Wastewater Plant Operator C, Public Utilities Dept 3/24/2014
Peter Johnson, Field Service Representative, Customer Svc Dept 3/24/2014
Member Renfroe moved to approve Item 6.1. The motion was duly seconded and
carried unanimously.
7. Director's Reports
Human Resources Director Joe Roseto said the Plan's advocate had not completed
work re Linda Leaghty's disability pension hearing, scheduled for May 8, 2014. Mr.
Roseto will email Committee members prior to the May meeting and report if the case
will be heard in May or need to be rescheduled.
Re Kris Wise's disability pension reapplication, Mr. Roseto said Mr. Wise's attorney was
requested to send his records to the Plan's attorney. The records will be forwarded to
the IME (Independent Medical Exam) physician for reevaluation. Once the City receives
the IME opinion, the Committee can schedule a preliminary hearing.
Mr. Roseto said the Employees' Pension Plan Investment and Actuary reports will be
presented to the Pension Trustees on April 14, 2014. Finance Director Jay Ravins
reported the Plan's investment performance last year was 16.9% net of fees.
8. Committee Members to be Heard
Chair Hightower welcomed Member Hamilton.
Member Jensen requested information re upcoming PAC (Pension Advisory
Committee) election.
9. Adjourn
The meeting adjourned at 9:05 a.m.
Chair
Pension Advisory committee
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