04/12/1999
TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
CITY OF CLEARWATER
April 12, 1999
Present: Brian J. Aungst Chair
Ed Hooper Vice-Chair/Trustee
J. B. Johnson Trustee
Robert Clark Trustee
Ed Hart Trustee
Also Present: 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 1:04 p.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 March 15, 1999, 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:
Kathi L. Orange
Sarah Gilkerson
Jerry Absher
J. C. Jones
Jay Gibson
Jaime Cebollero
Nasha Shaw
Richard Ritter
Robert Steyer
Anthony Newman
Kathleen Welch
Elvira Jackson
Trustee Hooper moved to accept the recommendation of the Pension Advisory
motioncarried
Committee. The was duly seconded and unanimously.
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ITEM #4 - Request for Pension:
The City Manager presented the recommendation of the Pension Advisory Committee
Bonnie O'Nealregular pension
that be granted a under Section(s) 2.393 and 2.397 of the
Employees' Pension Plan.
Bonnie O'Neal was employed on March 26, 1979, and her pension service credit is
effective on that date. Her pension will be effective May 1, 1999. Based on an average salary
of approximately $33,085 per year over the past five years, the formula for computing regular
pensions, and Ms. O'Neal's selection of the 100% Joint & Survivor Annuity, this pension will
approximate $18,009 annually.
The PAC (Pension Advisory Committee) approved this pension on March 11, 1999.
Section 2.393(p) provides for normal retirement eligibility when a participant has reached age
55 and completed 20 years of credited service or has completed 30 years of credited service.
Ms. O'Neal qualifies under the age 55 and 20 years of service criteria.
Trustee Johnson to accept the recommendation of the Pension Advisory Committee.
motioncarried
The was duly seconded and unanimously.
ITEM #5 - Pension Advisory Attorney Services RFP - reference evaluations for responding
firms & list of firms' charges for reimbursable expenses
The City Attorney said on March 26, 1999, the PAC and Pension Trustees heard
presentations from the firms who had responded to the City’s RFP (Request for Proposals) for
Pension attorney services: 1) Christiansen & Dehner; 2) Cypen & Cypen; and 3) Kalish &
Ward. The PAC had recommended the Pension Trustees approve the firm of Christiansen &
Dehner, P.A. The final contract will require Pension Trustee approval.
Trustee Johnson moved to authorize the City Attorney to negotiate a contract with
motion
Christiansen & Dehner, P.A. for Pension Attorney Services. The was duly seconded
carried
and unanimously.
ITEM #6 - Other Business:
Concern was expressed information provided to the PAC is not complete and difficult to
understand. It was noted paperwork, related to pension buy-back requests provided to PAC,
did not include actuarial numbers. It was suggested PAC approval of David Krieger’s request
to buy back his pension needs to be reconsidered. The importance of clarifying ramifications
of PAC decisions on the Pension Plan was noted.
Concern was expressed regarding long term consequences to the plan. The City
Attorney said staff can outline the buy-back requests and identify distinctions among them. In
response to a question, Fiscal Administrator Margie Simmons estimated the Pension Plan is
charged approximately $100 per computation of actuarial numbers.
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Consensus was to approve costs related to the computation of actuarial numbers for
buy-back cases pending before the PAC.
ITEM #7 - Adjournment:
The meeting adjourned at 1:14 p.m.
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