02/04/2002
TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
CITY OF CLEARWATER
February 4, 2002
Present: Brian J. Aungst Chair
Ed Hart Vice-Chair/Trustee
Whitney Gray Trustee
Hoyt P. Hamilton Trustee
Absent: William C. Jonson Trustee
Also present: William B. Horne II City Manager
Pamela K. Akin City Attorney
Lee Dehner Pension Trustees Attorney
Paul O'Rourke Human Resources Director
Cynthia E. Goudeau City Clerk
Patricia O. Sullivan Board Reporter
The Chair called the meeting to order at 9:05 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 Hamilton moved to approve the minutes of the January 22, 2002, meeting, as
motion
recorded and submitted in written summation by the City Clerk to each Trustee. The
carriedmotioncarried
was duly seconded and unanimously. The was duly seconded and
unanimously.
ITEM #3 - Request for Acceptance into Membership:
Human Resources Administrator Paul O’Rourke presented the recommendation of the
Pension Advisory Committee to approve membership for employees: Daniela Riccelli, Jarred
Stiff, Charles Redinger, Dana Harrison, Arban Goodrum, Kurt Zamor, David Ganote, Joel
Morley, Norma Skinner, John Bennett, Jeff McCann, Vernard Berrien, James Jones, Jr., Mark
Viola, Todd Johnson, Kris Familiari, Steve Salagaras, David Demarest, Timothy Downes,
Edmund Kardauskas, Lisa Brown, Rachel Franklin, Suzanne Judge, and Renee McSwain.
Trustee Gray moved to accept the recommendation of the Pension Advisory
motioncarried
Committee. The was duly seconded and unanimously.
ITEM #4 - Requests for Pension
Mr. O’Rourke presented the recommendation of the Pension Advisory Committee that
Michael Teyner and John H. Jeffries regular pensions
be granted under Sections 2.393 and
2.397 of the Employees' Pension Plan.
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Michael Teyner was employed on October 27, 1980, and his pension service credit is
effective on that date. His pension will be effective April 1, 2002. Based on an average salary
of $36,310 per year over the past 5 years, the formula for computing regular pensions, and Mr.
Teyner’s selection of the Joint & Survivor Annuity, this pension will approximate $21,341
annually.
John H. Jeffries was employed on February 2, 1977, and his pension service credit is
effective on that date. His pension will be effective March 1, 2002. Based on an average
salary of $46,163 per year over the past 5 years, the formula for computing regular pensions,
and Mr. Jeffries’ selection of the Joint & Survivor Annuity, this pension will approximate
$31,741 annually.
The PAC (Pension Advisory Committee) approved these pensions on January 10,
2002. 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. Messrs.
Teyner and Jeffries qualify under the age 55 and 20 years of service criteria.
Michael Teyner and John H.
Trustee Hamilton moved to grant regular pensions for
Jeffries
be granted under Sections 2.393 and 2.397 of the Employees’ Pension Plan, as
approved by the PAC accept the recommendation of the Pension Advisory Committee. The
motioncarried
was duly seconded and unanimously.
ITEM #5 – Other Business
Human Resources Director Paul O’Rourke said the assumption analysis, completed by
Actuary Steve Metz, will be presented to the Trustees in March.
ITEM #6 - Adjournment
The meeting adjourned at 9:06 a.m.
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