01/13/2005
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PENSION ADVISORY COMMITTEE MEETING
CITY OF CLEARWATER
January 13, 2005
Present:
John Lee
Nathan Hightower
Tom Jensen
John Schmalzbauer
Hoyt P. Hamilton
Frank Hibbard
Carlen Petersen
Chair
Vice-Chair
Committee Member
Committee Member
Committee Member/Councilmember
Committee Member/Councilmember
Committee Member/Councilmember
Also Present: Joe Roseto
Brenda Moses
Human Resources Director
Board Reporter
The Chair called the meeting to order at 9:01 a.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
Member Hibbard moved to approve the minutes of the regular meeting of December 9,
2004, as submitted in written summation to each board member. The motion was duly
seconded and carried unanimously.
3 - Emplovees to be Heard - None.
4 - Action Items:
a. Review and Action on Employee Requests for Regular Pensions:
1. Donna Gardner, Police
2. Joyce Geisel, Customer Service
3. Charles Cronin, Police
4. Gladys Young, Customer Service
Member Schmalzbauer moved to approve the requests for regular pensions for Donna
Gardner, Joyce Geisel, Charles Cronin, and Gladys Young. The motion was duly seconded
and carried unanimously.
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b.
Approval of New Hires as Plan Members:
As of December 23, 2004, the City had 1797.14 FTEs out of 1895.4 budgeted positions.
Member Petersen moved to accept the following employees into membership in the
Pension Plan:
Pension Elig.
Name. Job. Class. & Dept./Div.
Hire Date Date
11/29/04 11/29/04
11/29/04 11/29/04
11/29/04 11/29/04
11/29/04 11/29/04
11/27/04 11/27/04
12/13/04 12/13/04
Gretchen Urquhart, Police Com. Operator Trainee/Police
Kathleen Rowett, Police Com. Operator Trainee/Police
Charles Scrivens, Custodial Worker/Parks & Recreation
Theodore Magganas, Container Mtce Worker/Solid Waste
David Wilson, Recreation Programmer/Parks & Recreation
Sandra Doria, Staff Assistant/Public Services
David Wilson originally was hired as part-time on 8/19/96; transferred to full-time and
pension eligible.
The motion was duly seconded and carried unanimously.
5 - PendinQ/New Business
a.
James Albright
Human Resources Director Joe Roseto said Mr. Albright has requested a continuance.
b. Ronnie White (continued to date unknown)
Mr. Roseto said the PAC (Pension Advisory Committee) attorney was unsuccessful in
contacting Mr. White's attorney, therefore the case needs to be continued to a date uncertain.
In response to a question, Mr. Roseto said individual video surveillance tapes discussed
at the November PAC meeting were provided to Mr. White's attorney. PAC members were
provided a summary of all the tapes. No tapes have been returned. He said PAC members do
not need to return their tapes to staff after review. The City has the original copies.
Other
Mr. Roseto requested a disability hearing be scheduled for Cherie LePrevost on
February 10, 2005. She is in a no-pay status and has requested her case be heard as soon as
possible. Consensus was to schedule the hearing.
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6 - Director's Report
Mr. Roseto requested PAC members, who will attend the free seminar hosted by
Klausner & Kaufman on March 2 - 4, 2005, at the Cypress Grand Hyatt in Orlando, notify him
as soon as possible. Hotel and meal expenses will be reimbursed on a per diem basis. The
seminar covers pension issues. An investment manager and actuary also will be present.
7- Award contract to PriceWaterhouseCoopers LLP for actuarial services for the Employees'
Pension Plan and other related services for the five-year period endinQ December 31.
2009. at a total cost not to exceed $217.500.
Assistant Finance Director Jay Ravins said PriceWaterhouseCoopers LLP was chosen
after evaluation of responses to RFP (Request for Proposals) 2604. The five-member
evaluation committee was composed of one PAC representative, and four management
representatives from Finance, Human Resources, and the City Manager's office.
The City of Clearwater also will be contracting separately with PriceWaterhouseCoopers
LLP, at a later date, for health and welfare actuarial services as a result of this RFP process.
PriceWaterhouseCoopers has performed actuarial services for the Employees' Pension Plan
for the past sixteen years.
Fees included in the requested "not to exceed" amount include: fixed fees for the annual
actuarial report of $21,000 annually for the five-year period; annual pension plan individual
benefit statements for a fixed annual fee of $2,500; and actuarial advice to City staff over the
five-year period, on an as-needed basis, in the amount of $25,000. Additional funding of
$75,000 is included for cost studies, if needed, to determine the impact of any pension plan
changes proposed via the collective bargaining process.
It was remarked that PriceWaterhouseCoopers has experienced personnel with vast
corporate knowledge. The firm previously responded to City concerns, outside the scope of the
normal process, at no additional cost.
Other
Mr. Roseto said a Pension Workshop is scheduled at 2:00 p.m. on January 31, 2005, in
Council Chambers to discuss issues and ask questions. Pension Trustees, employee groups,
and unions have been invited. The PAC attorney will present an analysis of the Employees'
Pension Plan. No decisions will be made nor action taken.
In response to a question, Mr. Roseto said no costs would be associated with the 2000
actuary study if updates are needed. Finance Director Margie Simmons said the Trustees
authorized staff to move forward with an asset allocation study. She said at the February 9,
2005, Pension Investment Committee meeting, staff will review preliminary results. Discussion
with the PAC regarding the results is planned in March.
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8 - Committee Members to be Heard
Member Hamilton wished all a Happy New Year.
Member Hightower thanked staff for providing information in advance of Ms. LePrevost's
disability hearing.
9 - Adjournment
The meeting adjourned at 9:18 a.m.
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