10/12/2015Monday, October 12, 2015
1:00 PM
City of Clearwater
City Hall
112 S. Osceola Avenue
Clearwater, FL 33756
Council Chambers
Pension Trustees
Meeting Agenda
October 12, 2015Pension Trustees Meeting Agenda
1. Call To Order
2. Approval of Minutes
2.1 Approve the minutes of the August 17, 2015 Pension Trustees meeting as
submitted in written summation by the City Clerk.
3. Citizens to be Heard Regarding Items Not on the Agenda
4. New Business Items
4.1 Approve the new hires for acceptance into the Pension Plan as listed.
4.2 Approve the new hires for acceptance into the Pension Plan as listed.
4.3 Approve the following request of employees Roger Duncan, Marine and
Aviation Department, and Joseph Falcone, Police Department, for a regular
pension as provided by Sections 2.416 and 2.424 of the Employees’ Pension
Plan.
4.4 Approve the following request of employees Peter Hegedus, Solid Waste
General Services Department; Kevin Matthews, Police Department; Janet
McMahan, Planning and Development Department; Wadine Shawen, Planning
and Development Department; and Gregory Turman, Public Utilities
Department, for a regular pension as provided by Sections 2.416 and 2.424 of
the Employees’ Pension Plan.
4.5 Approve the following request of employee Linda Treuhaft, Legal Department,
to vest her pension as provided by Section 2.419 of the Employees’ Pension
Plan.
4.6 Approve the following request of employee Vern Erickson, Public Utilities, to
vest his pension as provided by Section 2.419 of the Employees’ Pension Plan.
4.7 Approve the recommended pension plan expenditures for fiscal year 2016,
totaling $318,400.
5. Adjourn
Page 2 City of Clearwater Printed on 10/8/2015
Cover Memo
City of Clearwater City Hall
112 S. Osceola Avenue
Clearwater, FL 33756
File Number: ID#15-1628
Agenda Date: 10/12/2015 Status: Agenda ReadyVersion: 1
File Type: MinutesIn Control: Pension Trustees
Agenda Number: 2.1
SUBJECT/RECOMMENDATION:
Approve the minutes of the August 17, 2015 Pension Trustees meeting as submitted in written
summation by the City Clerk.
SUMMARY:
APPROPRIATION CODE AND AMOUNT:
USE OF RESERVE FUNDS:
Page 1 City of Clearwater Printed on 10/8/2015
Pension Trustees Meeting Minutes August 17, 2015
City of Clearwater
City Hall
112 S. Osceola Avenue
Clearwater, FL 33756
Meeting Minutes
Monday, August 17, 2015
1:00 PM
Pension Trustees
Page 1 City of Clearwater Draft
Pension Trustees Meeting Minutes August 17, 2015
Roll Call
Present 4 - Chair George N. Cretekos, Trustee Doreen Hock-DiPolito, Trustee
Bill Jonson, and Trustee Hoyt Hamilton
Absent 1 - Trustee Jay E. Polglaze
Also Present - William B. Horne II - City Manager, Jill S. Silverboard - Assistant City
Manager, Rod Irwin - Assistant City Manager, Pamela K. Akin - City
Attorney, Nicole Sprague - Official Records and Legislative Services
Coordinator
To provide continuity for research, items are listed in agenda order although not necessarily
discussed in that order.
Unapproved 1. Call To Order
The meeting was called to order at 1:31 p.m. at City Hall. 2. Approval of Minutes
2.1 Approve the minutes of the July 13, 2015 Pension Trustees meeting as submitted in
written summation by the City Clerk.
Trustee Jonson moved to approve the minutes of the July 13, 2015
Pension Trustees meeting as submitted in written summation by
the City Clerk. The motion was duly seconded and carried
unanimously.
3. Citizens to be Heard Regarding Items Not on the Agenda – None. 4. New Business Items
4.1 Approve the new hires for acceptance into the Pension Plan as listed.
Pension
Name, Job. Class, & Dept./Div. Elig. Date
Lamonte Monroe, Customer Service Rep, Customer Service Dept 6/01/2015*
John Linse, Police Communications Operator Trainee, Police Dept 6/01/2015
Symone Watts, Police Comm Operator Trainee, Police Dept 6/01/2015
Kelsey Paulton, Police Comm Operator Trainee, Police Dept 6/01/2015
Sarah Czekaj, Industrial Pretreatment Tech, Public Utilities Dept 6/01/2 015
Cristian Rubiano, Traffic Engineering Assistant, Engineering Dept 6/15/2015
Page 2 City of Clearwater Draft
Pension Trustees Meeting Minutes August 17, 2015
Matthew Blansit, Parks Support Specialist, Parks and Rec Dept 6/15/2015**
* Lamonte Monroe was employed in a part time position from 4/20/2015 to
5/31/2015. He transferred to a full time position effective 6/01/2015, and will be
eligible for pension as of 6/01/2015.
** Matthew Blansit was employed in a temporary position from 8/11/2014 to
6/13/2015. He transferred to a full time position effective 6/15/2015, and will
be eligible for pension as of 6/15/2015.
Trustee Hock-DiPolito moved to approve the new hires for
acceptance into the Pension Plan as listed. The motion was duly
seconded and carried unanimously.
4.2 Approve the following request of employees Vicki Dettenwanger, Finance Department,
and Stephen Sarnoff, Solid Waste General Services Department, for a regular
pension as provided by Sections 2.416 and 2.424 of the Employees’ Pension Plan.
Vicki Dettenwanger, Risk Management Specialist, Finance Department, was
employed by the City on July 24, 1995, and her pension service credit is
effective on that date. Her pension will be effective October 1, 2015. Based on
an average salary of approximately $42,027.16 over the past five years, the
formula for computing regular pensions and Ms. Dettenwanger’s selection of
the Single Life Annuity, this pension benefit will be approximately $23,118.12
annually.
Stephen Sarnoff, Solid Waste Accounts Coordinator, Solid Waste General
Services Department, was employed by the City on October 14, 1989, and his
pension service credit is effective on that date. His pension will be effective
August 1, 2015. Based on an average salary of approximately $47,448.29 over
the past five years, the formula for computing regular pensions and Mr.
Sarnoff’s selection of the 100% Joint and Survivor Annuity, this pension benefit
will be approximately $32,283.36 annually.
Section 2.416 provides for normal retirement eligibility for non-hazardous duty
employees hired prior to the effective date of this reinstatement (January 1,
2013), a member shall be eligible for retirement following the earlier of the date
on which a participant has reached the age of fifty-five years and completed
twenty years of credited service; the date on which a participant has reached
age sixty-five years and completed ten years of credited service; or the date on
which a member has completed thirty years of service regardless of age. For
non-hazardous duty employees hired on or after the effective date of this
restatement, a member shall be eligible for retirement following the earlier of
the date on which a participant has reached the age of sixty years and
completed twenty-five years of credited service; or the date on which a
participant has reached the age of sixty-five years and completed ten years of
Page 3 City of Clearwater Draft
Pension Trustees Meeting Minutes August 17, 2015
credited service. Ms. Dettenwanger and Mr. Sarnoff have met the
non-hazardous duty criteria.
Section 2.416 provides for normal retirement eligibility for hazardous duty
employees, a member shall be eligible for retirement following the earlier of the
date on which the participant has completed twenty years of credited service
regardless of age, or the date on which the participant has reached fifty-five
years and completed ten years of credited service.
Trustee Hamilton moved to approve the following request of
employees Vicki Dettenwanger, Finance Department, and Stephen
Sarnoff, Solid Waste General Services Department, for a regular
pension as provided by Sections 2.416 and 2.424 of the Employees’
Pension Plan. The motion was duly seconded and carried
unanimously.
4.3 Appoint Wayne R. Huneke to the Pension Investment Committee with term to expire
August 31, 2017.
APPOINTMENT WORKSHEET
BOARD: Pension Investment Committee
TERM: 2 years
APPOINTED BY: City Council (Pension Trustees)
RESIDENCY REQUIREMENT: City of Clearwater
CONTACT: Jay Ravins, Finance Dir.
APPTS. NEEDED: 1
THE FOLLOWING PENSION INVESTMENT COMMITTEE MEMBER HAS A
TERM, WHICH WILL BE EXPIRING AND NOW REQUIRES REPLACEMENT
BY A NEW APPOINTEE:
1. Herbert W. McLachlan - 1180 Gulf Blvd., #102, 33767 - CPA
Original Appointment: 12/6/07
Interest in reappointment: Does not wish to continue
(term expires 8/31/15)
THE NAME BELOW IS BEING SUBMITTED FOR CONSIDERATION TO FILL
THE ABOVE VACANCY:
1. Wayne R. Huneke - 612 Snug Island, 33767 - Retired/Bachelor of Business
Adm./CPA
Trustee Jonson moved to appoint Wayne R. Huneke to the Pension
Investment Committee with term to expire August 31, 2017. The
motion was duly seconded and carried unanimously.
Page 4 City of Clearwater Draft
Pension Trustees Meeting Minutes August 17, 2015
5. Adjourn
The meeting adjourned at 1:33 p.m.
Chair
Employees’ Pension Plan Trustees
Attest
City Clerk
Page 5 City of Clearwater Draft
Cover Memo
City of Clearwater City Hall
112 S. Osceola Avenue
Clearwater, FL 33756
File Number: ID#15-1561
Agenda Date: 10/12/2015 Status: Agenda ReadyVersion: 2
File Type: Action ItemIn Control: Pension Trustees
Agenda Number: 4.1
SUBJECT/RECOMMENDATION:
Approve the new hires for acceptance into the Pension Plan as listed.
SUMMARY:
Name, Job. Class, & Dept./Div .Pension Elig. Date
Chad Bugansky, Service Dispatcher, Gas Department 6/27/2015
Antwain Hamm, Recreation Specialist Parks and Recreation Department 6/29/2015
Felicia Dunn, Police Comm Operator Trainee, Police Department 6/29/2015
Stephany Maxwell, Police Comm Operator Trainee, Police Department 6/29/2015
Logan Bashline, Water Dist Operator Trainee, Public Utilities Department 6/29/2015
Zachary Harrell, Water Dist Operator Trainee, Public Utilities Department 6/29/2015
Joseph Gomes, Water Dist Operator Trainee, Public Utilities Department 6/29/2015
Marquis Cheeks, Solid Waste Worker, Solid Waste Department 6/29/2015*
Harold Davis, Solid Waste Worker, Solid Waste Department 6/29/2015**
Jacob Johnson, Survey Assistant I, Engineering Department 7/13/2015
Elizabeth Kirchoffer, Parks Service Tech I, Parks and Recreation Dept 7/13/2015
Lakeisha Sims, Police Property Clerk, Police Department 7/13/2015
Anna Hancock, Public Info Coordinator, Public Communications Dept 7/13/2015
Gerimy Tisdale, Water Dist Operator Trainee, Public Utilities Department 7/13/2015
Andrew Schmidt, Police Service Technician, Police Department 7/13/2015
* Marquis Cheeks was employed in a temporary position from 4/13/2015 to 6/28/2015. He
transferred to a full time position effective 6/29/2015 and will be eligible for pension as of
6/29/2015.
** Harold Davis was employed in a temporary position from 4/13/2015 to 6/28/2015. He
transferred to a full time position effective 6/29/2015 and will be eligible for pension as of
6/29/2015.
APPROPRIATION CODE AND AMOUNT:
N/A
USE OF RESERVE FUNDS:
N/A
Page 1 City of Clearwater Printed on 10/8/2015
File Number: ID#15-1561
Page 2 City of Clearwater Printed on 10/8/2015
Cover Memo
City of Clearwater City Hall
112 S. Osceola Avenue
Clearwater, FL 33756
File Number: ID#15-1660
Agenda Date: 10/12/2015 Status: Agenda ReadyVersion: 2
File Type: Action ItemIn Control: Pension Trustees
Agenda Number: 4.2
SUBJECT/RECOMMENDATION:
Approve the new hires for acceptance into the Pension Plan as listed.
SUMMARY:
Name, Job. Class, & Dept./Div .Pension Elig. Date
Laura Del Valle, Graphics Designer, Public Communications Dept 8/10/2015 *
Ryan Carrington, Fire Medic, Fire Department 8/10/2015
James Parks, Fire Medic, Fire Department 8/10/2015
David Sellman, Fire Medic, Fire Department 8/10/2015
Paul Sudduth, Fire Medic, Fire Department 8/10/2015
Joshua True, Fire Medic, Fire Department 8/10/2015
Carlos Pellitero, Fire Medic, Fire Department 8/10/2015
Cherise Wehinger, Personnel/Payroll Tech, Parks and Rec. Dept.8/10/2015
Ramon Pires, Recreation Leader, Parks and Recreation Department 8/10/2015**
Robert Diehl, Fleet Mechanic, General Services Department 8/10/2015
Clarence Yancey, Police Property Clerk, Police Department 8/10/2015
Sean Deeran, Solid Waste Equipment Operator, Solid Waste Dept 8/10/2015
Roxana Grinov, Librarian I, Library Department 8/23/2015 ***
Tabitha Green, Library Assistant, Library Department 8/24/2015 ****
Brandon Mize, Parks Service TechI, Parks and Recreation Dept 8/24/2015 *****
Schnyyder Louis, Recreation Leader, Parks and Recreation Dept 8/24/2015 ******
Angel Gonzalez-Pagan, Parking Enforcement Specialist, Engin. Dept 8/24/2015
Bryson Church, Solid Waste Worker, Solid Waste Department 8/24/2015 *******
* Laura Del Valle was employed in a temporary position from 1/26/2015 to 8/09/2015. She
transferred to a full time position effective 8/10/2015, and will be eligible for pension as of
8/10/2015.
** Ramon Pires was employed in a temporary position from 5/16/2015 to 8/08/2015. He was
hired into a full time position effective 8/10/2015, and will be eligible for pension as of
8/10/2015.
*** Roxana Grinov was employed in a temporary position from 1/13/2014 to 8/22/2015. She
transferred to a full time position effective 8/23/2015, and will be eligible for pension as of
8/23/2015.
**** Tabitha Green was employed in a part time position from 1/27/2014 to 8/23/2015. She
transferred to a full time position effective 8/24/2015, and will be eligible for pension as of
Page 1 City of Clearwater Printed on 10/8/2015
File Number: ID#15-1660
8/24/2015.
***** Brandon Mize was employed in a temporary position from 6/08/2015 to 8/23/2015. He
transferred to a full time position effective 8/24/2015, and will be eligible for pension as of
8/24/2015.
****** Schnyyder Louis was employed in a temporary position from 5/30/2015 to 8/22/2015. He
was hired into a full time position effective 8/24/2015, and will be eligible for pension as of
8/24/2015.
******* Bryson Church was employed in a temporary position from 7/13/2015 to 8/23/2015. He
was hired into a full time position effective 8/24/2015, and will be eligible for pension as of
8/24/2015.
APPROPRIATION CODE AND AMOUNT:
N/A
USE OF RESERVE FUNDS:
N/A
Page 2 City of Clearwater Printed on 10/8/2015
Cover Memo
City of Clearwater City Hall
112 S. Osceola Avenue
Clearwater, FL 33756
File Number: ID#15-1650
Agenda Date: 10/12/2015 Status: Agenda ReadyVersion: 2
File Type: Action ItemIn Control: Pension Trustees
Agenda Number: 4.3
SUBJECT/RECOMMENDATION:
Approve the following request of employees Roger Duncan, Marine and Aviation Department,
and Joseph Falcone, Police Department, for a regular pension as provided by Sections 2.416
and 2.424 of the Employees’ Pension Plan.
SUMMARY:
Roger Duncan, Tradesworker, Marine and Aviation Department, was employed by the City on
May 18, 1987, and his pension service credit is effective on that date. His pension will be
effective October 1, 2015. Based on an average salary of approximately $49,767.33 over the
past five years, the formula for computing regular pensions and Mr. Duncan’s selection of the
100% Joint and Survivor Annuity, this pension benefit will be approximately $37,350.12
annually.
Joseph Falcone, Police Sergeant, Police Department, was employed by the City on February
6, 1995, and his pension service credit is effective on that date. His pension will be effective
October 1, 2015. Based on an average salary of approximately $91,407.57 over the past five
years, the formula for computing regular pensions and Mr. Falcone’s selection of the 100%
Joint and Survivor Annuity, this pension benefit will be approximately $50,873.04 annually.
Section 2.416 provides for normal retirement eligibility for non -hazardous duty employees
hired prior to the effective date of this reinstatement (January 1, 2013), a member shall be
eligible for retirement following the earlier of the date on which a participant has reached the
age of fifty-five years and completed twenty years of credited service; the date on which a
participant has reached age sixty -five years and completed ten years of credited service; or
the date on which a member has completed thirty years of service regardless of age. For
non-hazardous duty employees hired on or after the effective date of this restatement, a
member shall be eligible for retirement following the earlier of the date on which a participant
has reached the age of sixty years and completed twenty -five years of credited service; or the
date on which a participant has reached the age of sixty -five years and completed ten years of
credited service. Mr. Duncan has met the non-hazardous duty criteria.
Section 2.416 provides for normal retirement eligibility for hazardous duty employees, a
member shall be eligible for retirement following the earlier of the date on which the participant
has completed twenty years of credited service regardless of age, or the date on which the
participant has reached fifty -five years and completed ten years of credited service. Mr.
Falcone has met the hazardous duty criteria.
Page 1 City of Clearwater Printed on 10/8/2015
File Number: ID#15-1650
APPROPRIATION CODE AND AMOUNT:
N/A
USE OF RESERVE FUNDS:
N/A
Page 2 City of Clearwater Printed on 10/8/2015
Cover Memo
City of Clearwater City Hall
112 S. Osceola Avenue
Clearwater, FL 33756
File Number: ID#15-1563
Agenda Date: 10/12/2015 Status: Agenda ReadyVersion: 2
File Type: Action ItemIn Control: Pension Trustees
Agenda Number: 4.4
SUBJECT/RECOMMENDATION:
Approve the following request of employees Peter Hegedus, Solid Waste General Services
Department; Kevin Matthews, Police Department; Janet McMahan, Planning and Development
Department; Wadine Shawen, Planning and Development Department; and Gregory Turman,
Public Utilities Department, for a regular pension as provided by Sections 2.416 and 2.424 of
the Employees’ Pension Plan.
SUMMARY:
Peter Hegedus, Building and Maintenance Supervisor, Solid Waste General Services
Department, was employed by the City on January 3, 1985, and his pension service credit is
effective on that date. His pension will be effective August 1, 2015. Based on an average
salary of approximately $60,748.40 over the past five years, the formula for computing regular
pensions and Mr. Hegedus’ selection of the 75% Joint and Survivor Annuity with a 10% Partial
Lump Sum, this pension benefit will be approximately $45,988.80 annually.
Kevin Matthews, Police Officer, Police Department, was employed by the City on August 2,
1999, and his pension service credit is effective on that date. His pension will be effective
October 1, 2015. Based on an average salary of approximately $74,767.91 over the past five
years, the formula for computing regular pensions and Mr. Matthews’ selection of the 100%
Joint and Survivor Annuity, this pension benefit will be approximately $31,991.40 annually.
Janet McMahan, License Inspector, Planning and Development Department, was employed by
the City on December 3, 1984, and her pension service credit is effective on that date. Her
pension will be effective August 1, 2015. Based on an average salary of approximately
$55,345.54 over the past five years, the formula for computing regular pensions and Ms .
McMahan’s selection of the 50% Joint and Survivor Annuity, this pension benefit will be
approximately $45,121.20 annually.
Wadine Shawen, License Inspector, Planning and Development Department, was employed
by the City on August 27, 1984, and her pension service credit is effective on that date. Her
pension will be effective August 1, 2015. Based on an average salary of approximately
$49,587.63 over the past five years, the formula for computing regular pensions and Ms .
Shawen’s selection of the 50% Joint and Survivor Annuity, this pension benefit will be
approximately $40,009.92 annually.
Gregory Turman, Public Utilities Coordinator, Public Utilities Department, was employed by
the City on July 24, 1985, and his pension service credit is effective on that date. His pension
Page 1 City of Clearwater Printed on 10/8/2015
File Number: ID#15-1563
will be effective August 1, 2015. Based on an average salary of approximately $65,105.35
over the past five years, the formula for computing regular pensions and Mr. Turman’s
selection of the 100% Joint and Survivor Annuity with a 20% Partial Lump Sum, this pension
benefit will be approximately $39,205.08 annually.
Section 2.416 provides for normal retirement eligibility for non -hazardous duty employees
hired prior to the effective date of this reinstatement (January 1, 2013), a member shall be
eligible for retirement following the earlier of the date on which a participant has reached the
age of fifty-five years and completed twenty years of credited service; the date on which a
participant has reached age sixty -five years and completed ten years of credited service; or
the date on which a member has completed thirty years of service regardless of age. For
non-hazardous duty employees hired on or after the effective date of this restatement, a
member shall be eligible for retirement following the earlier of the date on which a participant
has reached the age of sixty years and completed twenty -five years of credited service; or the
date on which a participant has reached the age of sixty -five years and completed ten years of
credited service. Mr. Hegedus, Ms. McMahan, Ms. Shawen and Mr. Turman have met the
non-hazardous duty criteria.
Section 2.416 provides for normal retirement eligibility for hazardous duty employees, a
member shall be eligible for retirement following the earlier of the date on which the participant
has completed twenty years of credited service regardless of age, or the date on which the
participant has reached fifty -five years and completed ten years of credited service. Mr.
Matthews has met the hazardous duty criteria.
APPROPRIATION CODE AND AMOUNT:
N/A
USE OF RESERVE FUNDS:
N/A
Page 2 City of Clearwater Printed on 10/8/2015
Cover Memo
City of Clearwater City Hall
112 S. Osceola Avenue
Clearwater, FL 33756
File Number: ID#15-1651
Agenda Date: 10/12/2015 Status: Agenda ReadyVersion: 2
File Type: Action ItemIn Control: Pension Trustees
Agenda Number: 4.5
SUBJECT/RECOMMENDATION:
Approve the following request of employee Linda Treuhaft, Legal Department, to vest her
pension as provided by Section 2.419 of the Employees’ Pension Plan.
SUMMARY:
Linda Treuhaft, Paralegal, Legal Department, was employed by the City on May 11, 1998 and
began participating in the Pension Plan on that date. Ms. Treuhaft terminated from City
employment on September 5, 2015.
The Employees’ Pension Plan provides that should an employee cease to be an employee of
the City of Clearwater or change status from full -time to part-time after completing ten or more
years of creditable service (pension participation ), 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 2.416 provides for normal retirement eligibility for non -hazardous duty employees
hired prior to the effective date of this reinstatement (January 1, 2013), a member shall be
eligible for retirement following the earlier of the date on which a participant has reached the
age of fifty-five years and completed twenty years of credited service; the date on which a
participant has reached age sixty -five years and completed ten years of credited service; or
the date on which a member has completed thirty years of service regardless of age. For
non-hazardous duty employees hired on or after the effective date of this restatement, a
member shall be eligible for retirement following the earlier of the date on which a participant
has reached the age of sixty years and completed twenty -five years of credited service; or the
date on which a participant has reached the age of sixty -five years and completed ten years of
credited service. Ms. Treuhaft will meet the non -hazardous duty criteria and begin collecting a
pension in May 2017.
Section 2.416 provides for normal retirement eligibility for hazardous duty employees, a
member shall be eligible for retirement following the earlier of the date on which the participant
has completed twenty years of credited service regardless of age, or the date on which the
participant has reached fifty-five years and completed ten years of credited service.
APPROPRIATION CODE AND AMOUNT:
N/A
USE OF RESERVE FUNDS:
Page 1 City of Clearwater Printed on 10/8/2015
File Number: ID#15-1651
N/A
Page 2 City of Clearwater Printed on 10/8/2015
Cover Memo
City of Clearwater City Hall
112 S. Osceola Avenue
Clearwater, FL 33756
File Number: ID#15-1562
Agenda Date: 10/12/2015 Status: Agenda ReadyVersion: 2
File Type: Action ItemIn Control: Pension Trustees
Agenda Number: 4.6
SUBJECT/RECOMMENDATION:
Approve the following request of employee Vern Erickson, Public Utilities, to vest his pension
as provided by Section 2.419 of the Employees’ Pension Plan.
SUMMARY:
Vern Erickson, Water Plant Operator A, Public Utilities Department, was employed by the City
on March 7, 2005, and began participating in the Pension Plan on that date. Mr. Erickson
terminated from City employment on July 30, 2015.
The Employees’ Pension Plan provides that should an employee cease to be an employee of
the City of Clearwater or change status from full -time to part-time after completing ten or more
years of creditable service (pension participation ), 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 2.416 provides for normal retirement eligibility for non -hazardous duty employees
hired prior to the effective date of this reinstatement (January 1, 2013), a member shall be
eligible for retirement following the earlier of the date on which a participant has reached the
age of fifty-five years and completed twenty years of credited service; the date on which a
participant has reached age sixty -five years and completed ten years of credited service; or
the date on which a member has completed thirty years of service regardless of age. For
non-hazardous duty employees hired on or after the effective date of this restatement, a
member shall be eligible for retirement following the earlier of the date on which a participant
has reached the age of sixty (60) years and completed twenty -five years of credited service; or
the date on which a participant has reached the age of sixty -five years and completed ten
years of credited service. Mr. Erickson will meet the non -hazardous duty criteria and begin
collecting a pension in April 2019.
Section 2.416 provides for normal retirement eligibility for hazardous duty employees, a
member shall be eligible for retirement following the earlier of the date on which the participant
has completed twenty years of credited service regardless of age, or the date on which the
participant has reached fifty-five years and completed ten years of credited service.
APPROPRIATION CODE AND AMOUNT:
N/A
USE OF RESERVE FUNDS:
Page 1 City of Clearwater Printed on 10/8/2015
File Number: ID#15-1562
N/A
Page 2 City of Clearwater Printed on 10/8/2015
Cover Memo
City of Clearwater City Hall
112 S. Osceola Avenue
Clearwater, FL 33756
File Number: ID#15-1788
Agenda Date: 10/12/2015 Status: Agenda ReadyVersion: 1
File Type: Action ItemIn Control: Pension Trustees
Agenda Number: 4.7
SUBJECT/RECOMMENDATION:
Approve the recommended pension plan expenditures for fiscal year 2016, totaling $318,400.
SUMMARY:
The Employees’ Pension Plan does not have a legally required budget, however all
expenditures must be approved by the Trustees. The following are routine administrative
expenditures that staff is requesting approval of for administrative efficiency.
The recommended expenditures for fiscal year 2016 reflect a $9,400, or 3.0% increase from
the fiscal 2015 expenditures . This increase is primarily due to increased administrative support
charges from the Human Resources Department and the Finance Payroll Division, along with
a $1,400 increase in estimated costs of post-employment physicals.
Training and travel are the estimated costs of pension training and related travel, including
fiduciary training for the Trustees and Pension Advisory Committee (PAC) members. This is a
not-to-exceed amount given uncertainty regarding the number of Trustees and PAC members
that may elect to pursue training.
Reimbursements to the General Fund and Central Insurance Fund are for the cost of
oversight and administration of the Plan. The reimbursements are for services provided by
Human Resources, Payroll, and Finance personnel, along with related operating expenditures.
The firm of Klausner, Kaufman, Jensen and Levinson currently serves as the Plan ’s pension
attorneys. Annual attorney fees also include medical bills for medical services authorized by
the PAC.
Money manager, performance measurement consulting, safekeeping, and actuary fees are all
governed by contracts separately approved by the Trustees, and are not included in this
agenda item total.
APPROPRIATION CODE AND AMOUNT:
0646-xxxxx-5xxxxx (various pension plan expenditure codes)
USE OF RESERVE FUNDS:
N/A
Page 1 City of Clearwater Printed on 10/8/2015
Description FY 2016 FY 2015
Increase/
(Decrease) % Incr.
Printing & Binding 400 400 -
Postage 400 400 -
Memberships 600 600 -
Misc 100 100 -
Training 5,000 5,000 -
Travel Expense 3,000 3,000 -
Physicals 26,400 25,000 1,400 5.6%
Reimbursement to General Fund/Central Ins. Fund (Human Resources)37,800 34,500 3,300 9.6%
Reimbursement to General Fund (Accounting & Finance)20,100 20,000 100 0.5%
Reimbursement to General Fund (Payroll & IT)84,600 80,000 4,600 5.8%
Pension Attorney 140,000 140,000 -
318,400$ 309,000$ 9,400$ 3.0%
City of Clearwater
Employees' Pension Plan
Administrative Expenses