01/31/1994 TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
January 31, 1994
The City Commission, meeting as the Board of Trustees of the Employees Pension Fund, met in regular session at City Hall, Monday, January 31, 1994 at 9:00 A.M., with the following members
present:
Rita Garvey Chairperson
Richard Fitzgerald Trustee
Sue Berfield Trustee
Arthur X. Deegan, II Trustee
Fred Thomas Trustee
Also Present were:
Elizabeth M. Deptula Interim City Manager
Milton A. Galbraith, Jr. City Attorney
Cynthia E. Goudeau City Clerk
ITEM #2 - Minutes:
Trustee Berfield moved to approve the minutes of the January 18, 1994, meeting. The motion was duly seconded and carried unanimously.
ITEM #3 - Request for Acceptance into Membership:
The City Manager presented the recommendation of the Pension Advisory Committee to approve membership for the employee(s) listed below:
a) David R. Brady
b) Carlos Lang
c) Jacqueline R. Maltry
d) Lucette M. Wombacher
Trustee Fitzgerald moved to accept the recommendation of the Pension Advisory Committee. The motion was duly seconded and carried unanimously.
ITEM #4 - Request for Regular Pension: John C. Brady
The City Manager presented the recommendation of the Pension Advisory Committee that John C. Brady be granted a regular pension under Section 2.396 of the Employees' Pension Plan.
John C. Brady was employed on December 17, 1973, and began participating in the Pension Plan on that date. His retirement will be effective on January 21, 1994, at the beginning of
the day.
Mr. Brady's pension was approved by the PAC at their meeting of January 5, 1994. Based on an average salary of approximately $40,288 over the past five years and the formula for computing
regular pensions, Mr. Brady's pension will approximate $20,144 annually. Charts from Finance which take into consideration mortality rates and age reflect the "present value cost of
financing" this pension will be approximately $222,740.
Trustee Berfield moved to accept the recommendation of the Pension Advisory Committee. The motion was duly seconded and carried unanimously.
ITEM #5 - Request for Regular Pension: Donald A. Konen, Jr.
The City Manager presented the recommendation of the Pension Advisory Committee that Donald A. Konen, Jr. be granted a regular pension under Section 2.396 of the Employees' Pension
Plan.
Donald A. Konen, Jr. was employed on September 12, 1973, and began participating in the Pension Plan on March 13, 1974. His retirement will be effective on March 26, 1994, at the beginning
of the day.
Mr. Konen's pension was approved by the PAC at their meeting of January 5, 1994. Based on an average salary of approximately $31,320 over the past five years and the formula for computing
regular pensions, Mr. Konen's pension will approximate $15,660 annually. Charts from Finance which take into consideration mortality rates and age reflect the "present value cost of
financing" this pension will be approximately $121,291.
Trustee Thomas moved to accept the recommendation of the Pension Advisory Committee. The motion was duly seconded and carried unanimously.
ITEM #6 - Request for Job-Connected Disability Pension: Earl J. Stanford
The City Manager presented the recommendation of the Pension Advisory Committee that Earl J. Stanford be granted a job-connected disability pension under Section(s) 2.397 and/or 2.399
of the Employees' Pension Plan.
Earl J. Stanford was employed on July 21, 1986, and began participating in the Pension Plan on August 11, 1989. On November 6, 1992, he injured his back while at work which is the
basis for his request for this job-connected disability pension.
Mr. Stanford has submitted letters from Dr. Dennis M. Lox, dated August 10, 1993, and December 23, 1993, and Dr. Clinton B. Davis II, dated September 3, 1993, in support of his request
for a disability pension. This pension will be effective at the expiration of his vacation and sick leave as prorated with Workers' Compensation.
The letter from Dr. Lox states that "requirements of using vibrational equipment such as jackhammers, sledge hammers, picks and heavy lifting ... predispose him to further injury.
He has sustained an underlying permanent injury as a result of his 11/6/92 work related injury." The letter
from Dr. Davis states "Mr. Earl Stanford was seen ... for evaluation ... relating to an 11/6/92 work-related injury while employed by the City of Clearwater Water Division .... I do
not think Mr. Stanford can return to the physical demands of his previous occupation in the Water Division. This opinion comes after review of the requirements of that position where
he is frequently required to use jackhammers, sledgehammers, and pick up heavy tools and objects ... He has sustained a permanent injury as a result of the 11/6/92 work-related injury."
Based on an average salary of approximately $20,844 over the past five years and the formula for computing job-connected disability pensions, Mr. Stanford's pension will approximate
$15,633 annually. Charts from Finance which take into consideration mortality rates and age reflect the "present value cost of financing" this pension will be approximately $168,223.
Note: At the time of hire, Mr. Stanford was over the age of 45. In 1989 when employees over the age of 45 at the time of hire were given an option to join the Pension Plan, Mr. Stanford
exercised this option. Therefore, his pension eligibility date is August 11, 1989.
Trustee Thomas questioned the status of the ordinance to remove disability from the Pension Plan.
Chairperson Garvey stated this is an issue which has to be bargained. It will be discussed at the closed bargaining session scheduled for later today.
Trustee Thomas moved to accept the recommendation of the Pension Advisory Committee. The motion was duly seconded and carried unanimously.
ITEM #7 - Other Business: - None.
ITEM #8 - Adjournment:
The meeting adjourned at 9:04 a.m.