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06/01/2000 TRUSTEES OF THE EMPLOYEES' PENSION FUND SPECIAL MEETING CITY OF CLEARWATER June 1, 2000 Present: Brian J. Aungst Chair J. B. Johnson Vice-Chair/Trustee Ed Hooper Trustee Robert Clark Trustee Ed Hart Trustee Also present: Michael J. Roberto City Manager Pamela K. Akin City Attorney Scott Christiansen Pension Trustees Attorney Paul O'Rourke Human Resources Administrator Cynthia E. Goudeau City Clerk Patricia O. Sullivan Board Reporter The Chair called the meeting to order at 5:04 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 May 15, 2000, meeting, as motion recorded and submitted in written summation by the City Clerk to each Trustee. The carried was duly seconded and unanimously. payment of pension benefits & interest from ITEM #3 - (Cont’d from 5/15/00) - Approve Pension Fund for following retirees: Larry Hahn, Jr., Judi Acker, Terrence Rowe, Emanuel Hutchinson, Gary Lutman, John Nicholson, & Michael Dandaneau, for total $84,761.72 including reimbursement to Central Insurance Fund of $18,453 that has already been paid Job-connected disability pensions are subject to offsets for collateral benefits such as Workers’ Compensation and Social Security so that pension benefits, combined with collateral benefits, do not exceed 100% of an employee’s average monthly wage. According to recent Florida Supreme Court and First District Court of Appeals’ decisions, annual Workers’ Compensation permanent total supplemental benefits cannot be included in the pension offset calculation. The rulings impact the pensions of 7 City retirees. Previously, the City included the annual cost of living supplemental benefits when computing pension offsets, which resulted in underpayments of pension benefits to these retirees. As of May 1, 2000, it is estimated retirees are owed $91,649.87, including $64,911.33 – additional pension, $7,603.20 - penalties, & $19,135.34 - interest: 1) Judi Acker – $12,782.97 ($10,811.52 - pension, $1,081.15 – penalty, $890.30 – interest); 2) Lawrence Hahn, Jr. – $6,930.27 ($5,614.75 - pension, $561.48 – penalty, $754.04 – interest); 3) Terrence Rowe – $393.55 ($111.63 - pension, $11.16 – penalty, $270.76 – interest); 4) Emanuel Hutchinson – mpf06a00 1 06/01/00 $15,067.21 ($11,017.19 - pension, $2,203.44 – penalty, $1,846.58 – interest); 5) Gary Lutman – $6,207.60 ($4,903.01 - pension, $980.60 – penalty, $323.99 – interest); 6) John Nicholson – $19,775.31 ($14,794.09 - pension, $1,727.47 – penalty, $3,253.75 – interest); and 7) Michael Dandaneau – $30,492.96 ($17,659.14 - pension, $1,037.90 – penalty, $11,795.92 – interest). Interest owed is estimated. Staff recommends paying the additional pension benefits and interest from the Pension Fund. Benefits for Acker, Hahn, and Rowe have been paid from the Central Insurance Fund to satisfy a Florida Supreme Court mandate and to avoid additional penalties. Staff recommends the Pension Fund reimburse the Central Insurance Fund $18,453 for those payments. The Central Insurance Fund will pay all penalties as they resulted from a Florida Workers’ Compensation Statute that impacts the Pension Fund. Pension Trustees Attorney Scott Christiansen said he had reviewed the court rulings and staff recommendations. He complimented staff’s research of related issues. He said the courts probably would rule against a technical argument to exclude four retirees not represented by the Acker case. He concurred with staff and recommended payment with interest amounts updated. It was agreed such payments should not be handled administratively but be presented to the Pension Trustees for approval. In response to a question, Mr. Christiansen said payments are retroactive to the Acker case. Concern was expressed the related rulings may affect additional retirees. Risk Management Specialist Jon Marcin said no other retirees should be affected as staff has adjusted all Pensions affected by the Barrigan ruling. Since that ruling, qualifying retirees have received Pension and Workers’ Compensation benefits. Trustee Hart moved to approve payment of Pension benefits and interest from the Clearwater Employees Pension Fund, for retirees: Judi Acker, Lawrence Hahn, Jr., Terrence Rowe, Emanuel Hutchinson, Gary Lutman, John Nicholson, and Michael Dandaneau for a total of $84,761.72, including reimbursement to the Central Insurance Fund of $18,453 that already motion has been paid, and that the appropriate officials be authorized to execute same. The carried was duly seconded and unanimously. ITEM #4 - Approve Chapter 175 and Chapter 185 changes to City of Clearwater Employees' Pension Plan; authorize staff to proceed with ordinance revision The Pension Plan must be amended by July 1, 2000, to comply with Florida Chapters 175 and 185, as amended by Chapter 99-1, which require the Pension Plan to adopt all non- cost amendments and all amendments covered by additional State monies in excess of the 1997 amount. Under this provision, the City’s annual funding requirement, pursuant to Florida Statutes, would increase by approximately $12,000 on a long term basis: 1) $7,000 for Police and 2) $5,000 for Firefighters. The State’s annual 175/185 dividend to the City will offset additional costs. The ordinance will be forwarded to the City Commission for adoption. Related requirements for firefighters and police officers: 1) early retirement age of 50 & 10 with 3% per year reduction cap; 2) 55 & 10 normal retirement age; 3) normal form of benefit of life with 10-year guarantee, unless current normal form is of greater value; 4) delete pre- existing condition exclusion for disability entitlement; 5) limit workers’ compensation set-off so mpf06a00 2 06/01/00 that Plan disability benefits are not reduced below the greater of 2% per year of service or 42% of average monthly compensation calculated with 2% benefit rate; 6) delete reassignment provision for disability claimants & add provision requiring reassignments be to similar job classification at no reduction in rank or pay; 7) add presumptions for disability incurred in line of duty where claims are based on certain infectious diseases, hypertension, heart disease, & tuberculosis; 8) add optional forms of benefits for disability retirees with normal form having a 10-year guarantee; 9) add 66 2/3% joint & survivor option; 10) add forfeiture provisions for commission of certain specified offenses that are breaches of the public trust & where an attempt is made to obtain a pension benefit by fraud, misrepresentation, or false statements; 11) add buy-back provision allowing members who terminate employment & withdraw their contributions, an opportunity if reemployed, to buy prior service time by depositing contributions with interest within 90 days of reemployment; 12) credited service must be given members who separate from service to go into military active duty & are reemployed within 1 year after discharge for up to 5 years of military service; and 13) if members’ employment is terminated, their contributions remain in the Plan, & they are reemployed within 5 years, their new service time will bridge to their prior service time. Mr. Christiansen said the Pension Plan’s Actuary Steve Metz had estimated the cost of these changes. Discussion ensued regarding the effects of presumptions for disability claims based on certain diseases. The Pension Plan must provide clear and convincing evidence that proves another cause, such as a family history of hypertension. As HIV is not an included disease, claimants must provide clear and convincing evidence to prove infection had occurred in the line of duty. Trustee Johnson moved to approve Chapter 175 and Chapter 185 changes to the City’s Employees’ Pension Plan and authorize staff to proceed with ordinance revision. The motioncarried was duly seconded and unanimously. ITEM #5 - Other Business – None. ITEM #6 - Adjournment The meeting adjourned at 5:20 p.m. mpf06a00 3 06/01/00