04/18/1994 TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
April 18, 1994
The City Commission, meeting as the Board of Trustees of the Employees Pension Fund, met in regular session at City Hall, Monday, April 18, 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:
Kathy S. Rice Deputy City Manager
Paul Richard Hull Assistant City Attorney
Cynthia E. Goudeau City Clerk
ITEM #2 - Minutes:
Trustee Fitzgerald moved to approve the minutes of the April 4, 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) Roberto J. Felici
b) Valerie Phillips
c) Paul G. Wiggins
d) Stephen Martindale, Sr.
e) George A. Elfter
f) Lula Brooks
Trustee Fitzgerald moved to accept the recommendation of the Pension Advisory Committee. The motion was duly seconded and carried unanimously.
ITEM #4 - Request for Pension:
The City Manager presented the recommendation of the Pension Advisory Committee that Genevieve P. Beachler be granted a regular pension under Section 2.396 of the Employees' Pension
Plan.
Genevieve P. Beachler was employed on June 26, 1972, and began participating in the
Pension Plan on that date. Her retirement will be effective on August 3, 1994, at the beginning of the day.
Ms. Beachler's pension was approved by the PAC at its meeting of March 17, 1994. Based on an average salary of approximately $25,745 over the past five years and the formula for computing
regular pensions, Ms. Beachler's pension will approximate $14,211 annually. Charts from Finance which take into consideration mortality rates and age reflect the "present value cost
of financing" this pension will be approximately $120,866.
Trustee Thomas moved to accept the recommendation of the Pension Advisory Committee. The motion was duly seconded and carried unanimously.
ITEM #5 - Request for Pension:
The City Manager presented the recommendation of the Pension Advisory Committee that Frederick Starzinger be granted a regular pension under Section 2.396 of the Employees' Pension
Plan.
Frederick Starzinger was employed on January 10, 1964, and began participating in the Pension Plan on that date. His retirement will be effective on December 21, 1994, at the beginning
of the day.
Mr. Starzinger's pension was approved by the PAC at its meeting of March 17, 1994. Based on an average salary of approximately $34,096 over the past five years and the formula for
computing regular pensions, Ms. Beachler's pension will approximate $26,339 annually. Charts from Finance which take into consideration mortality rates and age reflect the "present
value cost of financing" this pension will be approximately $255,129.
Trustee Fitzgerald moved to accept the recommendation of the Pension Advisory Committee. The motion was duly seconded and carried unanimously.
ITEM #6 - Other Business: - None.
ITEM #7 - Adjournment:
The meeting adjourned at 9:01 a.m.