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01/19/1999 TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING CITY OF CLEARWATER January 19, 1999 Present: Rita Garvey Chair Ed Hooper Vice-Chair/Trustee J. B. Johnson Trustee Robert Clark Trustee Karen Seel Trustee Michael J. Roberto City Manager Pamela K. Akin City Attorney Cynthia E. Goudeau City Clerk Patricia O. Sullivan Board Reporter The Chair called the meeting to order at 9:33 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 Seel moved to approve the minutes of the December 10, 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: Phillip Cheek Matthew Pippin John A. Walton III Franklyn Campbell Thomas Chaplinsky Tito Vieta Trustee Johnson moved to accept the recommendation of the Pension Advisory motioncarried Committee. The was duly seconded and unanimously. ITEM #4 - Other Business: a) Discussion of Jeffrey Harper’s first 4.5 years with City On November 12, 1998, the City Attorney requested the PAC (Pension Advisory Committee) review their previous approval of a Years of Service Pension for Jeffrey Harper. mpf0199 1 01/19/99 Mr. Harper was not admitted to the Pension Plan during his first approximate 4.5 years of employment. No record indicates the reason or legal exclusion on which he was refused admission. Upon his retirement, Mr. Harper entered into an agreement with the City that enabled him to apply for pension based on his hire date. On November 12, 1998, the PAC remanded approval of Jeffrey Harper’s Years of Service Pension to the Pension Trustees for a final decision. In his January 15, 1999, letter, Steve Metz, the City’s actuary, said if Mr. Harper does not repay the 4.5 years of “missed” contribution of approximately $16,000, the Pension Plan’s funded status or City’s contribution requirements would not be affected in a meaningful way. In response to a question, the City Attorney said Mr. Harper would have contributed to the plan had he been permitted. Kelley Bosecker, the City’s Pension Counsel, recommended approval of Mr. Harper’s request based on IRS regulations which require employers to “fix” pension problems caused by employer errors. Discussion ensued and concerns were expressed regarding the possibility of setting a precedent and the need to treat Mr. Harper fairly. Ms. Bosecker said Mr. Harper’s situation is unique as his exclusion from the plan was not based on pension plan rules in place at that time. Mr. Harper offered to repay his “missed” contribution but did not believe it would be fair to ask him to pay 30 years of interest. It was stated that would be a fair compromise. Concern was expressed approval not subject the plan to legal jeopardy. The City Attorney said that would not be case. Trustee Seel moved to approve a Pension for Jeffrey Harper with Jeffrey Harper paying the Pension Plan $16,368.81 to cover “missed” contributions during the period from 10/27/69 motion to 6/29/74 and to add this same period of time to his service credit. The was duly carried seconded and unanimously. PAC Outside Counsel The City Attorney reported the City had received three responses to a RFP (Request for Proposals) issued for PAC counsel. New counsel will be appointed by March 1999. ITEM #5 - Adjournment: The meeting adjourned at 9:58 a.m. mpf0199 2 01/19/99