09/30/1996 TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
September 30, 1996
The City Commission, meeting as the Board of Trustees of the Employees' Pension Fund, met in regular session at City Hall, Monday, September 30, 1996 at 10:53 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 September 16, 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) Holly Albright
b) Diane Bass
c) James Belcher
d) Benjamin Coccia
e) John Fellenbaum
f) Cathleen Gill
g) Peter Johnson
h) Patricia Loblein
i) Anthony Monte
j) Herbert Mosse
k) Brenda Moses
l) Estrella Murphy
m) Craig Murray
n) Christopher Precious
o) Jana Rodenberger
p) James Wade
q) James Walser
r) Paul Wassen
s) Marilyn Young
t) Michael Zimmerman
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 Eugene T. Cavaliere be granted a regular pension under Section(s) 2.393 and 2.397 of the Employees'
Pension Plan.
Eugene T. Cavaliere was employed on April 8, 1974, and his pension service credit is effective on that date. His retirement was effective on September 1, 1996.
Mr. Cavaliere's pension was approved by the PAC on September 12, 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 $50,839 per year over the past five years, the formula for computing regular pensions, and Mr. Cavaliere’s selection of the Joint & Survivor
Annuity, this pension will approximate $31,278 annually.
Trustee Clark 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 John D. Eastridge be granted a regular pension under Section(s) 2.393 and 2.397 of the Employees'
Pension Plan.
John D. Eastridge was employed on September 8, 1973, and his pension service credit is effective on March 8, 1974. At the time of Mr. Eastridge’s employment, pension deductions for
employees were not immediately commenced. Subsequently, when employees were provided an opportunity to make up pension contributions, he did not elect to do so. His retirement will
be effective on April 1, 1997.
Mr. Eastridge's pension was approved by the PAC on September 12, 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 Deputy Police Chief as meeting the hazardous duty criteria.
Based on an average salary of approximately $68,440 per year over the past five years, the formula for computing regular pensions, and Mr. Eastridge’s selection of the 100% Joint &
Survivor Annuity, this pension will approximate $42,613 annually.
Trustee Johnson 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 10:54 a.m.