11/02/1995 TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
November 2, 1995
The City Commission, meeting as the Board of Trustees of the Employees' Pension Fund, met in regular session at City Hall, Thursday, November 2, 1995 at 5:30 P.M., with the following
members present:
Rita Garvey Chairperson
Sue Berfield Trustee
Fred Thomas Trustee
William Justice Trustee
Absent:
J. B. Johnson Trustee
Also Present were:
Elizabeth M. Deptula City Manager
Kathy S. Rice Deputy City Manager
Pamela K. Akin City Attorney
Cynthia E. Goudeau City Clerk
ITEM #2 - Minutes:
Trustee Thomas moved to approve the minutes of the October 16, 1995, 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) Charles Clark
b) Jean Griggs
c) Joanne Lindstrom
The City Attorney stated Joanne Lindstrom’s name should be deleted as she has left city employment.
Trustee Berfield moved to accept the recommendation of the Pension Advisory Committee to accept membership for Charles Clark and Jean Griggs. The motion was duly seconded and carried
unanimously.
ITEM #4 - Approve $8,000 expenditure for Wittner & Company to develop & analyze an RFP for pension administration services; to prepare a written recommendation for the Commission; and
oversee & coordinate the transition of the administration of the Employees’ Pension Plan to the selected Pension Administrator
Changes to the Employees’ Pension Plan approved by voters on October 24, 1995 include the administration of the IRS qualified plan by a Third Party Administrator. Wittner & Company
will provide services in two phases: Phase 1 will cost $3,500 and Phase 2 will cost $4,500. In the event the City chooses not to implement Phase 2 for any reason, the fees for Phase
2 will not be payable. Wittner & Company’s fees are “full service” and include no hidden charges. These expenditures will be paid for by the Employees’ Pension Fund.
In response to a question, Kathy Rice explained Phase 1 will be to write the Request for Proposals (RFP) and to answer any questions that may arise. Phase 2 will be to evaluate the
responses to the RFP.
Trustee Justice moved to approve an $8,000 expenditure for Wittner & Company to develop & analyze an RFP for pension administration services; to prepare a written recommendation for
the Commission; and oversee & coordinate the transition of the administration of the Employees’ Pension Plan to the selected Pension Administrator. The motion was duly seconded and
carried unanimously.
ITEM #5 - Authorize reimbursement of $4,879.38 from Employees’ Pension Fund to the City’s General Fund for payment of costs incurred for advertisements of the pension referendum question
on 10/24/95
On Sunday, October 22, 1995, a full page ad ran in the St. Petersburg Times ($2,699.97) and the Tampa Tribune ($765.56). On Monday, October 23, 1995, a half page ad ran in the same
newspapers ($1,030.07 & $383.78 respectively).
The total amount, $4,879.38, was paid from the General Fund. The General Fund should be reimbursed for this expenditure from the Employees’ Pension Fund.
Trustee Berfield moved to authorize reimbursement of $4,879.38 from the Employees’ Pension Fund to the City’s General Fund for payment of costs incurred for advertisements of the pension
referendum question on 10/24/95. The motion was duly seconded and carried unanimously.
ITEM #6 - Other Business: - None.
ITEM #7 - Adjournment: - 5:33 p.m.