06/15/1998
TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
CITY OF CLEARWATER
June 15, 1998
Present: Rita Garvey Chair
Ed Hooper Vice-Chair/Trustee
J. B. Johnson Trustee
Karen Seel Trustee
Michael J. Roberto City Manager
Pamela K. Akin City Attorney
Cynthia E. Goudeau City Clerk
Brenda Moses Board Reporter
Absent: Robert Clark Trustee
The Chair called the meeting to order at 9:09 a.m. at City Hall.
To provide continuity for research, items are in agenda order although not necessarily
discussed in that order.
ITEM #2 - Approval of Minutes
Trustee Hooper moved to approve the minutes of the May 4, 1998, meeting, as
motion
recorded and submitted in written summation by the City Clerk to each Trustee. The
carried
was duly seconded and 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) Albert Carrier
b) David Larremore
c) Jeremy Lewis
d) Angelo Muscarella
e) Lauren Sherman
f) Michael Burden
Trustee Hooper moved to accept the recommendation of the Pension Advisory
motioncarried
Committee. The was duly seconded and unanimously.
ITEM #4 - Request for Pension:
The City Manager presented the recommendation of the Pension Advisory Committee
Jimmie Waters and Jessie Myrick regular pensions
that be granted under Section(s) 2.393
and 2.397 of the Employees' Pension Plan.
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Jimmie Waters was employed on April 13, 1973, and his pension service credit is
effective October 13, 1973. His pension will be effective on May 1, 1998.
Based on an average salary of approximately $37,589 per year over the past five
years, the formula for computing regular pensions, and Mr. Waters’ selection of the 100% Joint
& Survivor Annuity, this pension will approximate $24,849 annually.
Jessie Myrick was employed on June 4, 1963, and his pension service credit is
effective that date. His pension will be effective on July 1, 1998.
Based on an average salary of approximately $38,743 per year over the past five
years, the formula for computing regular pensions, and Mr. Myrick’s selection of the 100%
Joint & Survivor Annuity, this pension will approximate $36,366 annually.
Mr. Waters and Mr. Myrick’s pensions were approved by the PAC on May 14, 1998.
Section 2.393 (p) provides for normal retirement eligibility when a participant has reached age
55 and completed twenty years of credited service or has completed thirty years of credited
service. Mr. Waters qualifies under the age 55 and 20 years of service criteria. Mr. Myrick
qualifies under both criteria.
Trustee Seel moved to accept the recommendation of the Pension Advisory
motioncarried
Committee. The was duly seconded and unanimously.
ITEM #5 - Other Business - None.
ITEM #6 - Adjournment: - 9:10 a.m.
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