07/16/2007
TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING MINUTES
CITY OF CLEARWATER
July 16, 2007
Present: Frank Hibbard Chair
John Doran Trustee
George N. Cretekos Trustee
Paul Gibson Trustee
Absent: Carlen Petersen Trustee
Also Present: William B. Horne, II City Manager
Garry Brumback Assistant City Manager
Rod Irwin Assistant City Manager
Pamela K. Akin City Attorney
Cynthia E. Goudeau City Clerk
Patricia O. Sullivan Board Reporter
The Chair called the meeting to order at 2:21 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
2.1 Approve the minutes of the June 18, 2007 Pension Trustees meeting as submitted in
written summation by the City Clerk.
Trustee Doran moved to approve the minutes of the June 18, 2007, meeting, as
motion
recorded and submitted in written summation by the City Clerk to each Trustee. The
carried
was duly seconded and unanimously.
3 - Pension Trustee Items
3.1 Employees listed below be accepted into the City of Clearwater's Employees' Pension
Plan.
Pension Eligible
Name, Job Class, & Dept./Div Hire Date Date
Kevin Duffy, WWTP Operator B/Public Utilities 04/16/07 04/16/07
Shaun Cunningham, Systems Programmer/IT 04/30/07 04/30/07
William Slattery, Parking Technician/Engineering 04/30/07 04/30/07
Jesse Myers, Police Cadet/Police 04/30/07 04/30/07
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Trustee Cretekos moved to accept the listed employees into membership in the City of
motion carried
Clearwater's Employees' Pension Plan. The was duly seconded and
unanimously.
3.2 Approve the recommended administrative expenditures for Fiscal Year 2007/08 totaling
$334,500.
Accountant Joyce Hunt reviewed the request. The Employees’ Pension Plan does not
have a legal requirement to have a budget. The Trustees must approve all expenditures. The
following are routine expenditures that staff is requesting approval for the sake of efficiency.
These expenditures involve routine business matters and are mostly small dollar amounts.
Printing and binding is for the statutorily required annual information distribution to the
members of the pension plan. This number has been decreased due to actual experiences.
Postage is for certified mailings required under a rule passed by the Pension Trustees and
other pension related materials. Membership dues are for the annual dues for the Florida
Public Pension Trust Association. Training is for the mandatory training required by State
statute. Travel is the estimated cost for training. Klausner & Kaufman is the pension attorney
firm. Annual attorney’s fees also include medical bills that are for the medical services
authorized by the Pension Advisory Committee. Reimbursement to the General Fund and the
Self Insurance Fund is for the cost of the oversight of the Plan and is recognized as revenue to
the funds. This reimbursement covers the services provided by Human Resources, Payroll,
and Finance.
At this time, staff is not budgeting for a Referendum for the next year. If a referendum
is needed approval will be sought at that time. Money manager, safekeeping, actuary, and
other contractual fees are all set by contracts approved by the Trustees and are not included in
this budget.
In response to a question, Finance Director Margie Wilson said the travel budget
covers training required by law. No travel funds were spent last year.
Discussion ensued regarding training opportunities. The City Attorney said it is
important that all PAC (Pension Advisory Committee) members and Pension Trustees receive
training regarding their fiduciary responsibilities. Ms. Simmons will report on the cost of in-
house training.
Trustee Doran moved to approve the recommended administrative expenditures for
motion carried
fiscal year 2007-08 totaling $334,500. The was duly seconded and
unanimously.
3.3 George Hudson, Solid Waste/General Services Department; Barbara Downs, Parks &
Recreation Department; Ellen Foster, Gas Department; Jack Howell, Solid Waste/General
Services Department, and Ronald Heck, Police Department, be granted regular pensions
under Section(s) 2.393 and 2.397 of the Employees’ Pension Plan as approved by the
Pension Advisory Committee.
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George Hudson, Solid Waste Equipment Operator, Solid Waste/General Services
Department, was employed by the City on July 12, 1971, and his pension service credit is
effective on that date. His pension will be effective July 1, 2007. Based on an average salary
of approximately $42,283 per year over the past five years, the formula for computing regular
pensions, and Mr. Hudson’s selection of the 100% Joint & Survivor Annuity, this pension will
approximate $40,307 annually.
Barbara Downs, Staff Assistant, Parks & Recreation Department, was employed by the
City on February 5, 1996, and her pension service credit is effective on January 10, 1997. Her
pension will be effective July 1, 2007. Based on an average salary of approximately $26,622
per year over the past five years, the formula for computing regular pensions, and Ms. Downs’
selection of the Joint & Survivor Annuity, this pension will approximate $7,665 annually.
Ellen Foster, Senior Service Dispatcher, Gas Department, was employed by the City on
January 21, 1974, and her pension service credit is effective on July 21, 1974. Her pension
will be effective May 1, 2007. Based on an average salary of approximately $36,386 per year
over the past five years, the formula for computing regular pensions, and Ms. Foster’s
selection of the Joint & Survivor Annuity, this pension will approximate $32,795 annually.
Jack Howell, Licensed Electrician, Solid Waste/General Services Department, was
employed by the City on June 27, 1977, and his pension service credit is effective on August
13, 1977. His pension will be effective September 1, 2007. Based on an average salary of
approximately $46,629 per year over the past five years, the formula for computing regular
pensions, and Mr. Howell’s selection of the Joint & Survivor Annuity, this pension will
approximate $38,469 annually.
Ronald Heck, Police Officer, Police Department, was employed by the City on June 13,
1977, and his pension service credit is effective on July 30, 1977. His pension will be effective
September 1, 2007. Based on an average salary of approximately $67,626 per year over the
past five years, the formula for computing regular pensions, and Mr. Heck’s selection of the
Joint & Survivor Annuity, this pension will approximate $55,946 annually.
These pensions were approved by the Pension Advisory Committee on June 14, 2007.
Section 2.393 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
provides for normal retirement eligibility when a participant has completed twenty years of
credited service or has reached age 55 and completed ten years of credited service in a type
of employment described as “hazardous duty” and further defines service as a Police Officer
as meeting the hazardous duty criteria. Mr. Hudson and Ms. Foster qualify under both the age
55 and twenty years of service and the thirty years of service criteria. Mr. Howell qualifies
under the thirty years of service criteria. Ms. Downs qualifies under the age 65 and ten years
of service criteria. Mr. Heck qualifies under the hazardous duty criteria.
Trustee Gibson moved that George Hudson, Solid Waste/General Services
Department; Barbara Downs, Parks & Recreation Department; Ellen Foster, Gas Department;
Jack Howell, Solid Waste/General Services Department, and Ronald Heck, Police Department,
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3.4 Daniel Carpenter. Fire Department. be allowed to vest his pension in accordance with
Section 2.397 and 2.398 of the Emplovees' Pension Plan as approved bv the Pension Advisory
Committee.
Daniel Carpenter, Administrative Support Manager, Fire Department, was employed by
the City on April 18, 1992, and began participating in the Pension Plan on that date. Mr.
Carpenter terminated from City employment on May 8,2007.
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), 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 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. Carpenter would have completed at least 30 years of service on April 18, 2022. His
pension will be effective May 1, 2022. This pension was approved by the Pension Advisory
Committee on June 14, 2007.
Trustee Doran moved that Daniel Carpenter, Fire Department, be allowed to vest his
pension in accordance with Section 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.
4 . Other Business
5 . Adjourn
The meeting adjourned at 2:31 p.m.
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Employee's Pension Plan Trustees
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