07/29/1996 TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
July 29, 1996
The City Commission, meeting as the Board of Trustees of the Employees' Pension Fund, met in regular session at City Hall, Monday, July 29, 1996 at 9:00 A.M., with the following members
present:
Rita Garvey Chairperson
J. B. Johnson Trustee
Robert Clark Trustee
Ed Hooper Trustee
Karen Seel Trustee
Also Present were:
Elizabeth M. Deptula City Manager
Pamela K. Akin City Attorney
Cynthia E. Goudeau City Clerk
ITEM #2 - Minutes:
Trustee Johnson moved to approve the minutes of the July 15, 1996, 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) Karen Cooper
b) Theresa Ferguson
c) Jeff Jeffcoat
d) Terri Ralat
e) Terry Washington
f) Jennifer Woods
g) Steve Wright
Trustee Hooper 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 Edmund K. Walther be granted a regular pension under Section(s) 2.393 and 2.397 of the Employees'
Pension Plan.
Edmund K. Walther was employed on July 30, 1973, and his pension service credit is effective on that date. His retirement will be effective on August 1, 1996.
Mr. Walther's pension was approved by the PAC on July 11, 1996. Section 2.393 (p) 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 specifically defines service as a Police Officer as meeting the hazardous duty criteria.
Based on an average salary of approximately $43,382 over the past five years, the formula for computing regular pensions, and Mr. Walther’s selection of the 100% Joint & Survivor Annuity,
this pension will approximate $27,256 annually.
Trustee Johnson 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 James H. Gravely be granted a regular pension under Section(s) 2.393 and 2.397 of the Employees'
Pension Plan.
James H. Gravely was employed on January 14, 1974, and his pension service credit is effective on that date. His retirement was effective on July 1, 1996.
Mr. Gravely's pension was approved by the PAC on July 11, 1996. Section 2.393 (p) 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 specifically defines service as a Police Officer as meeting the hazardous duty criteria.
Based on an average salary of approximately $42,557 over the past five years, the formula for computing regular pensions, and Mr. Gravely’s selection of the Joint & Survivor Annuity,
this pension will approximate $26,287 annually.
Trustee Hooper 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: - 9:01 a.m.