04/12/2004
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TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
CITY OF CLEARWATER
April 12, 2004
Present:
Brian Aungst
Frank Hibbard
Hoyt Hamilton
William C. Jonson
Carlen Petersen
Chair
Trustee
Trustee
Trustee
Trustee
Also Present:
William B. Horne II
Pamela K. Akin
Joe Roseto
Cynthia E. Goudeau
Patricia O. Sullivan
City Manager
City Attorney
Human Resources Director
City Clerk
Board Reporter
The Chair called the meeting to order at 1: 11 p.m. at City Hall.
To provide continuity for research, items are in agenda order although not
necessarily discussed in that order.
2 - Approval of Minutes:
Trustee Hibbard moved to approve the minutes of the March 15, 2004, meeting, as
recorded and submitted in written summation by the City Clerk to each Trustee. The motion
was duly seconded and carried unanimously.
3 - Request for acceptance into membership:
Human Resources Director Joe Roseto presented the recommendation of the Pension
Advisory Committee that the following employees be accepted into membership: Sergio Fidelis,
Amy Forrest, Tracie Black, Clement Vericker, Shaun Beasley, George Agovino, Richard
Callahan, Christopher Priest, Guillermo Lopez, Jason Johnson, and Gregory Harvey.
Trustee Hamilton moved to accept the recommendation of the Pension Advisory
Committee. The motion was duly seconded and carried unanimously.
4 - Requests for Pension
Mr. Roseto presented the recommendation of the Pension Advisory Committee that
Jeffery Klamo, Robert Miller, David Daiker, and Charles Saporito be granted regular
pensions under Sections 2.393 and 2.397 of the Employees' Pension Plan.
Jeffery Klamo, Parks Service Technician III, Parks & Recreation Department, was
employed by the City on June 4, 1973, and his pension service credit is effective on April 27,
1974. His pension will be effective May 1, 2004. Based on an average salary of approximately
$36,658 per year over the past five years, the formula for computing regular pensions, and Mr.
Klamo's selection of the 100% Joint & Survivor Annuity, this pension will approximate $29,764
annually.
Robert Miller, Recreation Superintendent, Parks & Recreation Department, was
employed by the City on June 22, 1973, and his pension service credit is effective on April 3,
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1974. His pension will be effective May 1, 2004. Based on an average salary of approximately
$66,164 per year over the past five years, the formula for computing regular pensions, and Mr.
Miller's selection of the 75% Joint & Survivor Annuity, this pension will approximate $54,877
annually.
David Daiker, Fire Lieutenant, Fire Department, was employed by the City on January
11, 1971, and his pension service credit is effective on that date. His pension will be effective
March 1, 2004. Based on an average salary of approximately $62,258 per year over the past
five years, the formula for computing regular pensions, and Mr. Daiker's selection of the 10-
year Certain and Life Annuity, this pension will approximate $68,301 annually.
Charles Saporito, Firefighter/Driver Operator, Fire Department, was employed by the
City on December 17,1973, and his pension service credit is effective on that date. His
pension will be effective March 1, 2004. Based on an average salary of approximately $52,579
per year over the past five years, the formula for computing regular pensions, and Mr.
Saporito's selection of the 75% Joint & Survivor Annuity, this pension will approximate $43,854
annually.
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These pensions were approved by the Pension Advisory Committee on March 4, 2004.
Section 2.393 (p) provides for normal retirement eligibility when a participant has reached age
55 and completed twenty years of credited service, has completed thirty years of credited
service, or has reached age 65 and completed ten years of credited service. Section 2.393
also (p) provides for normal retirement eligibility when a participant has completed twenty years
of service in a hazardous duty position. It further specifically defines service as a Fire
Lieutenant, Firefighter/Driver Operator, and Firefighter/Lead Medic as meeting the hazardous
duty criteria. Messrs. Klamo and Miller qualify under the 30 years of service criteria. Messrs.
Daiker, Saporito, and Gillette qualify under the hazardous duty criteria.
Trustee Jonson moved to grant regular pensions for Jeffery Klamo, Robert Miller, David
Daiker, and Charles Saporito under Sections 2.393 and 2.397 of the Employees' Pension Plan,
as approved by the Pension Advisory Committee. The motion was duly seconded and carried
unanimously.
5 - Pension to be vested
Dale Stoddard, Police Communications Operator, Police Department, was employed by
the City on November 22, 1983, and began participating in the Pension Plan on that date. Mr.
Stoddard terminated from City employment on March 5, 2004. The Employees' Pension Plan
provides that should an employee cease to be an employee of the City of Clearwater after
completing ten or more years of creditable service (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.
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Section 2.393 (p) provides for normal retirement eligibility when a participant has
reached age 55 and completed twenty years of credited service, has completed 30 years of
credited service, or has reached age 65 and completed ten years of credited service. Mr.
Stoddard would have completed twenty years of service and reached age 55 on February 7,
2005. His pension will be effective March 1, 2005. This pension was approved by the Pension
Advisory Committee on March 4, 2004.
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Trustee Petersen moved that Dale R. Stoddard, Police Department, be allowed to vest
his pension under Sections 2.397 and 2.398 of the Employees' Pension Plan as approved by
the Pension Advisory Committee. The motion was duly seconded and carried unanimously.
6 - Other Business - None.
7 - Adiournment
The meeting adjourned at 1: 12 p.m.
Atte1\
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City CI '
Pension Trustees 2004-04-12
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