03/31/1997 TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
March 31, 1997
The City Commission of the City of Clearwater, meeting as the Board of Trustees of the Employees' Pension Fund, met in regular session at the Municipal Services Building, Monday, March
31, 1997 at 9:01 A.M., with the following members present:
Rita Garvey Chairperson
J. B. Johnson Trustee
Robert Clark Trustee
Ed Hooper Trustee
Elizabeth M. Deptula City Manager
Pamela K. Akin City Attorney
Cynthia E. Goudeau City Clerk
Absent: Karen Seel Trustee
ITEM #2 - Minutes:
Trustee Clark moved to approve the minutes of the March 3, 1997, 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) Juan Butler
b) Carol Boteler
c) Robert C. Chilcote
d) Anthony S. Nellis
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 Wayne Sibbert be granted a regular pension under Section(s) 2.393 and 2.397 of the Employees' Pension
Plan.
Wayne Sibbert was employed on December 23, 1968, and his pension service credit is effective on that date. His pension will be effective on April 1, 1997.
Mr. Sibbert’s pension was approved by the PAC on March 13, 1997. 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 Lieutenant as meeting the hazardous duty criteria.
Based on an average salary of approximately $64,745 per year over the past five years, the formula for computing regular pensions, and Mr. Sibbert’s selection of the 50% Joint & Survivor
Annuity, this pension will approximate $52,523 annually.
Trustee Johnson moved to accept the recommendation of the Pension Advisory Committee. The motion was duly seconded and carried unanimously.
ITEM #5 - Request to Vest Pension:
The City Manager presented the recommendation of the Pension Advisory Committee that Daniel Freeman be allowed to vest his pension under Section(s) 2.397 and 2.398 of the Employees'
Pension Plan
Daniel Freeman was employed on January 7, 1980, and his pension service credit is effective on that date. Mr. Freeman resigned from City employment effective March 1, 1997. As of
his resignation, he had approximately 17 years of service and pension participation.
The Employees’ Pension Plan provides that should an employee cease to be an employee of the City of Clearwater after completing 10 or more years of creditable service (pension participation),
then such employee shall acquire a vested interest in the retirement benefits. Vested pension payments commence at the time the employee normally would have been eligible for retirement.
Mr. Freeman would have completed 20 years of service on January 7, 2000, in a hazardous duty position. His request to vest his pension was approved by the PAC on March 13, 1997, and
will be effective February 1, 2000.
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: 9:02 a.m.