05/14/2001
TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
CITY OF CLEARWATER
May 14, 2001
Present: Brian J. Aungst Chair
Ed Hart Vice-Chair/Trustee
Whitney Gray Trustee
Hoyt P. Hamilton Trustee
William C. Jonson Trustee
Also present: William B. Horne II Interim City Manager
Pamela K. Akin City Attorney
Lee Dehner Pension Trustees Attorney
Paul O'Rourke Human Resources Administrator
Cynthia E. Goudeau City Clerk
Brenda Moses Board Reporter
The Chair called the meeting to order at 1:09 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 Gray moved to approve the minutes of the April 2, 2001, meeting, as recorded
motion
and submitted in written summation by the City Clerk to each Trustee. The was duly
carried
seconded and unanimously.
ITEM #3 - Request for Acceptance into Membership:
The Human Resources Administrator presented the recommendation of the Pension
Advisory Committee to approve membership for the employees listed below:
Timothy Buis, Deven Filer, Donathon Clark, Jay Neal, Timothy Coleman, Travis Lowe, Barbara
Buchinsky, Eric McBride, Angela Aldrich, Benjamin Hailey, Steve White, Rodney Rivera, John
Moscatelli, Eric McGraw, Christopher Lyons, Lamon Green, John Rementer, Scott Maurer,
Suzanne Ruley, Stanley Conord, Roy Reel, JoAnn Stinyard, Kelly King, Linda Belinske, Jason
Clark, & Scott Oster
Trustee Jonson moved to accept the recommendation of the Pension Advisory
motioncarried
Committee. The was duly seconded and unanimously.
ITEM #4 - Request for Pension:
Mr. O’Rourke presented the recommendation of the Pension Advisory Committee that
Margaret Jewett, Nancy Burgarella, & Wilson McGill regular pensions
be granted under
Section(s) 2.393 and 2.397 of the Employees' Pension Plan.
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Margaret Jewett was employed on November 23, 1979, and her pension service credit
is effective on that date. Her pension will be effective September 1, 2001.
Based on an average salary of approximately $47,499 per year over the past 5 years,
the formula for computing regular pensions, and Ms. Jewett's selection of the 100% Joint &
Survivor Annuity, this pension will approximate $28,083 annually.
Nancy Burgarella was employed on October 18, 1971, and her pension service credit is
effective on April 18, 1972. Her pension will be effective September 1, 2001.
Based on an average salary of approximately $47,660 per year over the past 5 years,
the formula for computing regular pensions, and Ms. Burgarella's selection of the 100% Joint &
Survivor Annuity, this pension will approximate $37,979 annually.
Wilson McGill, Jr. was employed on June 23, 1967, and his pension service credit is
effective on that date. His pension will be effective July 1, 2001.
Based on an average salary of approximately $43,647 per year over the past 5 years,
the formula for computing regular pensions, and Mr. McGill's selection of the 75% Joint &
Survivor Annuity, this pension will approximate $39,488 annually.
These pensions were approved by the PAC on April 12, 2001. Section 2.393 (p)
provides for normal retirement eligibility when a participant has completed 20 years of credited
service in a type of employment described as “hazardous duty” and further specifically defines
service as a Police Officer as meeting the hazardous duty criteria. Section 2.393 (p) also
provides for normal retirement eligibility when a participant has reached age 55 and completed
20 years of credited service, has completed 30 years of credited service, or has reached age
65 and completed 10 years of credited service. Ms. Jewett and Ms. Burgarella qualify under
the hazardous duty criteria. Mr. McGill qualifies under the age 55 and 20 years of service and
30 years of service criteria.
Trustee Hamilton moved to accept the recommendation of the Pension Advisory
motioncarried
Committee. The was duly seconded and unanimously.
ITEM #5 - Request to Vest Pension:
Mr. O’Rourke presented the recommendation of the Pension Advisory Committee that
Patricia Schrembs vest her pension
be allowed to under Section(s) 2.397 and 2.398 of the
Employees' Pension Plan.
Patricia Schrembs was employed on January 28, 1991, and her pension service credit
is effective on that date. She terminated from City employment on March 30, 2001.
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
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(pension participation), then such employee shall acquire a vested interest in the retirement
benefits. Vested pension payments commence on the first of the month following the month in
which the employee normally would have been eligible for retirement.
Section 2.393 (p) provides for normal retirement eligibility when a participant has
reached age 55 and completed 20 years of credited service, has completed 30 years of
credited service, or has reached age 65 and completed 10 years of credited service. Ms.
Schrembs would have completed 10 years of service and reached age 65 on March 17, 2003.
Her pension will be effective on April 1, 2003. This request was approved by the PAC on April
12, 2001.
Trustee Hamilton moved to accept the recommendation of the Pension Advisory
motioncarried
Committee. The was duly seconded and unanimously.
ITEM #6 - Other Business
Mr. O’Rourke said PAC (Pension Advisory Committee) Member Dick Fitzgerald is now
Chair of the PAC, replacing former Chair Aungst.
Mr. O’Rourke said required investment training for the Trustees has been scheduled for
June 14 and 19, 2001.
ITEM #7 - Adjournment
The meeting adjourned at 1:11 p.m.
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