09/17/2018 Pension Trustees Meeting Minutes September 17, 2018
City of Clearwater
City Hall
112 S. Osceola Avenue
Clearwater, FL 33756
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Meeting Minutes
Monday, September 17, 2018
1 :00 PM
Council Chambers
Pension Trustees
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City of Clearwater
Pension Trustees Meeting Minutes September 17, 2018
Roll Call
Present 4 - Chair George N. Cretekos, Trustee Doreen Caudell, Trustee Bob
Cundiff, and Trustee David Allbritton
Absent 1 - Trustee Hoyt Hamilton
Also Present—William B. Horne — City Manager, Pamela K. Akin — City
Attorney, Rosemarie Call — City Clerk, Nicole Sprague — Official
Records and Legislative Services Coordinator, and Joe Roseto —
Human Resources Director
To provide continuity for research, items are listed in agenda order although not
necessarily discussed in that order.
1. Call to Order— Chair Cretekos
The meeting was called to order at 1:02 p.m. at City Hall.
2. Approval of Minutes
2.1 Approve the minutes of the August 13, 2018 Pension Trustees Meeting as submitted in
written summation by the City Clerk.
Trustee Caudell moved to approve the minutes of the August 13,
2018 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 Classification/Department Eligibility Date
Jenelle Ostrowski, Senior Professional Engineer, Engineering 07/09/2018
Kelly Gumto, Accounting Technician, Parks and Recreation 07/09/2018
Eustace Trocard, Heavy Equipment Operator, Parks and Recreation
07/09/2018
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City of Clearwater
Pension Trustees Meeting Minutes September 17, 2018
Deandre Lane, Parks Service Technician I, Parks and Recreation
07/09/2018
Marcus Boykins, Solid Waste Equipment Operator, Solid Waste
07/09/2018
Michael Finocchio, Wastewater Treatment Plant Operator C, Public Utilities
07/09/2018
Michael Buis, Police Officer, Police
07/23/2018
Brittany Camera, Police Officer, Police
07/23/2018
Paul Gonzales, Police Officer, Police
07/23/2018
Jared Karpiscak, Police Officer, Police
07/23/2018
Michael Omer, Police Officer, Police
07/23/2018
Nicholas Paloma, Police Officer, Police
07/23/2018
Mikul Robinson, Police Officer, Police
07/23/2018
Scott Yeates, Police Officer, Police
07/23/2018
Nancy Gardner, Staff Assistant, Planning and Development
07/23/2018
Todd West, Building Construction Inspector, Planning and Development
07/23/2018
Nicholas Galante, Parking Enforcement Specialist, Engineering
07/23/2018
Julian McClaney, Parks Service Technician I, Parks and Recreation
07/23/2018
Peyton James, Solid Waste Equipment Operator, Solid Waste
07/23/2018
Trustee Cundiff 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 employee Shari Lepper, Economic Development and
Housing Department to vest their pension as provided by Section 2.419 of the
Employees' Pension Plan.
Shari Lepper, Staff Assistant, Economic Development and Housing
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City of Clearwater
Pension Trustees Meeting Minutes September 17, 2018
Department, was employed by the City on June 16, 2003, and began
participating in the Pension Plan on July 25, 2005. Ms. Lepper terminated from
City employment on July 14, 2018.
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. Lepper will meet the non-hazardous duty criteria and begin collecting a
pension in August 2025.
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 Allbritton moved to approve the following request of
employee Shari Lepper, Economic Development and Housing
Department to vest their pension as provided by Section 2.419 of
the Employees' Pension Plan. The motion was duly seconded and
carried unanimously.
4.3 Approve the following request of employees Holly Albright, Finance Department, Linda
Galioto, Police Department, Jay Schmitt, Fire Department, Patricia Shields, Finance
Department, Christopher Varnis, Solid Waste General Services Department, and Brenda
Patrick, Gas Department for a regular pension as provided by Sections 2.416 and 2.424
of the Employees' Pension Plan.
Holly Albright, Accounting Technician, Finance Department, was employed by
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City of Clearwater
Pension Trustees Meeting Minutes September 17, 2018
the City on May 20, 1996, and her pension service credit is effective on that
date. Her pension will be effective August 1, 2018. Based on an average salary
of approximately $38,862.90 over the past five years, the formula for computing
regular pensions and Ms. Albright's selection of the Life Annuity, this pension
benefit will be approximately $23,693.16 annually.
Linda Galioto, Police Service Technician, Police Department, was employed by
the City on February 6, 1995, and her pension service credit is effective on April
27, 1998. Her pension will be effective September 1, 2018. Based on an
average salary of approximately $44,893.60 over the past five years, the formula
for computing regular pensions and Ms. Galioto's selection of the 100% Joint
and Survivor Annuity, this pension benefit will be approximately $21,567.00
annually.
Jay Schmitt, Fire Lieutenant, Fire Department, was employed by the City on
May 18, 1992, and his pension service credit is effective on that date. His
pension will be effective August 1, 2018. Based on an average salary of
approximately $137,566.35 over the past five years, the formula for computing
regular pensions and Mr. Schmitt's selection of the 100% Joint and Survivor
Annuity, this pension benefit will be approximately $96,907.56 annually.
Patricia Shields, Senior Payroll Technician, Finance Department, was
employed by the City on April 17, 2006, and her pension service credit is
effective on that date. Her pension will be effective September 1, 2018. Based
on an average salary of approximately $35,613.72 over the past five years, the
formula for computing regular pensions and Ms. Shield's selection of the Life
Annuity, this pension benefit will be approximately $12,043.56 annually.
Christopher Varnis, Building and Maintenance Foreman, Solid Waste General
Services Department, was employed by the City on May 18, 2002, and his
pension service credit is effective on that date. His pension will be effective
September 1, 2018. Based on an average salary of approximately $40,617.35
over the past five years, the formula for computing regular pensions and Mr.
Varnis' selection of the Life Annuity, this pension benefit will be approximately
$18,191.16 annually.
Brenda Patrick, Personnel Payroll Tech, Gas Department, was employed by the
City on March 30, 1987, and her pension service credit is effective on that date.
Her pension will be effective August 1, 2018. Based on an average salary of
approximately $44,540.12 over the past five years, the formula for computing
regular pensions and Ms. Patrick's selection of the 100% Joint and Survivor
Annuity, this pension benefit will be approximately $35,361.36 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
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City of Clearwater
Pension Trustees Meeting Minutes September 17, 2018
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. Albright, Ms. Galioto, Ms. Shields and Mr. Varnis 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. Schmitt has met the
hazardous duty criteria.
Trustee Caudell moved to approve the following request of
employees Holly Albright, Finance Department, Linda Galioto, Police
Department, Jay Schmitt, Fire Department, Patricia Shields, Finance
Department, Christopher Varnis, Solid Waste General Services
Department, and Brenda Patrick, Gas 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.
4.4 Approve pension plan expenditures for fiscal year 2019 totaling $351,600.
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 2019 reflect a $13,100, or 3.9%
increase over the approved fiscal 2018 expenditures, per attached. This
increase is primarily due to increased reimbursements to the General Fund and
Central Insurance Fund for Human Resources and Finance personnel
administrative support totaling $6,500, or 4.4%; along with a $6,800, or 23.1%,
increase in expected costs for employee 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.
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City of Clearwater
Pension Trustees
Meeting Minutes September 17, 2018
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, as well as attorney fees for disability
cases and hearings.
Money manager, performance measurement consulting, custodial/safekeeping,
and actuary fees (other than actuary hourly consulting) are all governed by
contracts separately approved by the Trustees and are not included in this
agenda item total.
APPROPRIATION CODE AND AMOUNT:
646-xxxx-5xxxxx (various pension plan expenditure codes)
Trustee Cundiff moved to approve pension plan expenditures for
fiscal year 2019 totaling $351,600. The motion was duly seconded
and carried unanimously.
5. Director's Report — None.
6. Adjourn
The meeting adjourned at 1:06 p.m.
City of Clearwater
qeO(vACrAtkf
Chair
Employees' Pension Plan Trustees
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