06/15/2020Monday, June 15, 2020
9:00 AM
City of Clearwater
Main Library - Council Chambers
100 N. Osceola Avenue
Clearwater, FL 33755
Main Library - Council Chambers
Pension Trustees
Meeting Agenda
June 15, 2020Pension Trustees Meeting Agenda
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advance.
1. Call To Order
2. Approval of Minutes
2.1 Approve the minutes of the February 18, 2020 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 following request of employee Mark Tokar, Parks and Recreation
Department to vest their pension as provided by Section 2.419 of the
Employees’ Pension Plan.
4.3 Approve the following request of employees William Buzzell, Solid Waste
General Services Department, Richard Hughes, Fire Department, Rose Lara,
Public Utilities Department, Jane Sloan, Planning & Development Department,
Steven Smith, Fire Department and Mark Wallace, Parks and Recreation
Department, for a regular pension as provided by Sections 2.416 and 2.424 of
the Employees’ Pension Plan.
4.4 Ratify and Confirm correction of error of underpayment of pension death benefit
for Stephen Doherty
Page 2 City of Clearwater Printed on 6/10/2020
June 15, 2020Pension Trustees Meeting Agenda
5. Director's Report
6. Adjourn
Page 3 City of Clearwater Printed on 6/10/2020
Cover Memo
City of Clearwater Main Library - Council
Chambers
100 N. Osceola Avenue
Clearwater, FL 33755
File Number: ID#20-7606
Agenda Date: 6/15/2020 Status: Agenda ReadyVersion: 1
File Type: MinutesIn Control: Pension Trustees
Agenda Number: 2.1
SUBJECT/RECOMMENDATION:
Approve the minutes of the February 18, 2020 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 6/10/2020
Pension Trustees Meeting Minutes February 18, 2020
Page 1
City of Clearwater
City of Clearwater
Main Library - Council Chambers
100 N. Osceola Avenue
Clearwater, FL 33755
Meeting Minutes
Tuesday, February 18, 2020
9:00 AM
Main Library - Council Chambers
Pension Trustees
Pension Trustees Meeting Minutes February 18, 2020
Page 2
City of Clearwater
Roll Call
Present 5 - Chair George N. Cretekos, Trustee Bob Cundiff, Trustee Hoyt
Hamilton, Trustee David Allbritton, and Trustee Jay Polglaze
Also Present – William B. Horne II – City Manager, Micah Maxwell – Assistant
City Manager, Michael Delk – Assistant City Manager, Pamela
K. Akin – City Attorney, Rosemarie Call – City Clerk, Nicole
Sprague – Official Records and Legislative Services
Coordinator and Jennifer Poirrier – Human Resources Director
To provide continuity for research, items are listed in agenda order although not
necessarily discussed in that order.
Unapproved
1. Call to Order – Chair Cretekos
The meeting was called to order at 9:09 a.m. in Council Chambers at the
Main Library.
2. Approval of Minutes
2.1 Approve the December 16, 2019 Pension Trustees Meeting Minutes as submitted in
written summation by the City Clerk.
Trustee Allbritton moved to approve the December 16, 2019
Pension Trustees Meeting Minutes 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 Trustees Meeting Minutes February 18, 2020
Page 3
City of Clearwater
Name/Job Classification/Department Pension
Eligibility Date
Robert Farris, Senior Construction Inspector Engineering 11/12/2019
Amy Dickman, Utility Dispatcher, Gas
11/12/2019
Ali Ismailoski, Arborist, Parks & Recreation
11/12/2019
Robert Testa, Parks Service Technician, Parks & Recreation
11/12/2019
Suzan Hauser, Police Records Clerk, Police
11/12/2019
Jessica Hoskins, Police Records Clerk, Police 11/12/2019
Tracy Boone, Police Records Clerk, Police 11/12/2019
Alyssa Poole, Customer Service Rep, Gas 11/25/2019
Derek Smith Jr.. Lead Parks Service Technician, Parks & Recreation 11/25/2019
Ryan DeFonso, Customer Service Rep, Planning & Development 11/25/2019
David Ball, Utilities Electronics Technician, Public Utilities 11/25/2019
Deborah Boyer, Customer Service Representative, Utility Customer Service 12/09/2019
Jesse Rhoades, Lead Engineering Specialist, Engineering/Traffic 12/09/2019
Elise Heal, Human Resources Analyst, Human Resources 12/09/2019
Andrew Donelson, Utilities Mechanic, Public Utilities 12/09/2019
Jakob Blass, Police Cadet, Police 11/12/2019
Jonathon Roth, Survey Assistant, Engineering 12/16/2019
Brenda Fontane-Villamil, Sr Development Rev Tech, Planning and Development 12/09/2019
Trustee Polglaze 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 Jeremiah Mills, Fire Department, to vest their
pension as provided by Section 2.419 of the Employees’ Pension Plan.
Jeremiah Mills, Fire Medic, Fire Department, was employed by the City on
February 28, 2006, and began participating in the Pension Plan on that date.
Mr. Mills terminated from City employment on November 4, 2019.
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,
Pension Trustees Meeting Minutes February 18, 2020
Page 4
City of Clearwater
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.
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. Mills will meet the
hazardous duty criteria and begin collecting pension in March 2026.
Trustee Cundiff moved to approve the following request of
employee Jeremiah Mills, Fire 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 Michael Deegan, Gas Department, Matthew
McCombs, Solid Waste General Services and Karl Pople, Police Department, for a
regular pension as provided by Sections 2.416 and 2.424 of the Employees’ Pension
Plan.
Michael Deegan, Gas Safety and Reg Comp Coordinator, Gas Department,
was employed by the City on January 2, 1985, and his pension service credit is
effective on that date. His pension will be effective February 1, 2020. Based on
an average salary of approximately $87,275.57 over the past five years, the
formula for computing regular pensions and Mr. Deegan’s selection of the 75%
Joint and Survivor Annuity, this pension benefit will be approximately $83,935.32
annually.
Matthew McCombs, Fleet Mechanic, Solid Waste General Services
Department, was employed by the City on February 24, 2003, and his pension
service credit is effective on that date. His pension will be effective January 1,
2020. Based on an average salary of approximately $45,210.65 over the past
five years, the formula for computing regular pensions and Mr. McCombs’
selection of the 50% Joint and Survivor Annuity, this pension benefit will be
approximately $18,667.20 annually.
Karl Pople, Police Telecommunicator, Police Department, was employed by the
Pension Trustees Meeting Minutes February 18, 2020
Page 5
City of Clearwater
City on January 16, 1991, and his pension service credit is effective on January
20, 1998. His pension will be effective February 1, 2020. Based on an average
salary of approximately $54,183.40 over the past five years, the formula for
computing regular pensions and Mr. Pople’s selection of the 50% Joint and
Survivor Annuity, this pension benefit will be approximately $30,726.72 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. Deegan, Mr. McCombs and Mr. Pople have met the non-hazardous duty
criteria.
Trustee Hamilton moved to approve the following request of
employees Michael Deegan, Gas Department, Matthew McCombs,
Solid Waste General Services and Karl Pople, Police 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 Ratify and confirm correction of error of underpayments for members where amounts
were calculated incorrectly by software.
In response to questions, Finance Director Jay Ravins said the $1,800
was for all 7 pensioners who were impacted by the miscalculation and
included interest. The software has been corrected.
Trustee Allbritton moved to ratify and confirm correction of error
of underpayments for members where amounts were calculated
incorrectly by software. The motion was duly seconded and
carried unanimously.
Pension Trustees Meeting Minutes February 18, 2020
Page 6
City of Clearwater
4.5 Approve the termination of mid cap value equity money manager Wedge Capital
Management and authorize the appropriate officials to execute same.
Wedge was hired as a mid cap value equity manager for the plan in January
2007. As of January 31, 2020, the market value of the plan’s investment in
Wedge’s mid cap value equity product totaled $39.25 million, or 3.50% of the
Plan’s total investment portfolio. Wedge’s performance has declined in recent
years, as detailed below. The Pension Investment Committee unanimously
recommends termination at this time.
Percentile
As of 9/30/2019 Systematic Ranking Benchmark
Last 3 years 6.46% 99th 7.82%
Last 5 years 6.59% 94th 7.55%
Last 10 years 12.57% 65th 12.29%
Staff will be bringing a separate agenda item forward for replacement of Wedge
in the mid cap value portfolio category.
In response to questions, Finance Director Jay Ravins said staff will be
bringing forth another mid cap manager. Staff tries to diversify the
investment portfolio to minimize while earning a reasonable return. The
Plan's current assumption rate is 6.5% on investment returns. Wedge
Capital has 3.5% of the plan’s portfolio.
Trustee Cundiff moved to approve the termination of mid cap
value equity money manager Wedge Capital Management and
authorize the appropriate officials to execute same. The motion
was duly seconded and carried unanimously.
4.6 Approve an agreement with Boston Partners Global Investors, Inc (dba Boston Partners)
for investment in the Boston Partners Mid Cap Value Equity product and authorize the
appropriate officials to execute same.
One of the plan’s mid cap value equity money managers, Wedge Capital
Management, has been recommended for termination per a previous agenda
item.
The City’s investment consultant, CapTrust Advisors, conducted a manager
search for a replacement mid cap value equity manager. The pension
investment committee reviewed the search results at the November 22, 2019
Pension Trustees Meeting Minutes February 18, 2020
Page 7
City of Clearwater
quarterly committee meeting and selected Boston Partners for
recommendation to the Pension Trustees.
The pension investment committee unanimously recommends Boston Partners
Mid Cap Value Equity to the Trustees for an initial investment of up to $45
million, or approximately 4.0% of the total plan investment portfolio.
As of December 31, 2019, Boston Partners’ Mid Cap Value Equity performance
over the past ten years has been as follows:
(net of fees) Russell Midcap
Performance Value Index
Last 3 years 9.19% 8.10%
Last 5 years 9.11% 7.62%
Last 10 years 13.92% 12.41%
Investment manager fees will be 0.80% on the first $25 million; and 0.60%
thereafter.
The pension plan’s attorney, Klausner, Kaufman, Jensen and Levinson, has
reviewed and approved the Investment Management Agreement for execution.
APPROPRIATION CODE AND AMOUNT:
6467410-530100 $380,000 annually
Trustee Hamilton moved to approve an agreement with Boston
Partners Global Investors, Inc (dba Boston Partners) for
investment in the Boston Partners Mid Cap Value Equity product
and authorize the appropriate officials to execute same. The
motion was duly seconded and carried unanimously.
5. Director's Report - None
6. Adjourn
The meeting adjourned at 9:16 a.m.
Chair
Employees’ Pension Plan Trustees Attest
Pension Trustees Meeting Minutes February 18, 2020
Page 8
City of Clearwater
City Clerk
Cover Memo
City of Clearwater Main Library - Council
Chambers
100 N. Osceola Avenue
Clearwater, FL 33755
File Number: ID#20-7577
Agenda Date: 6/15/2020 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 Classification/Department Pension Eligibility Date
Jonathon Roth, Survey Assistant, Engineering 01/06/2020
Heather Davidson, Human Resources Staff Assistant, Human Resources 01/06/2020
Alyssa Gaudreault, Recreation Manager - Volunteers, Parks & Recreation 01/06/2020
Braxton Jones, Parks Service Technician, Parks & Recreation 01/06/2020
Owen Reich, Police Telecommunicator Trainee, Police 01/06/2020
Amanda Gill, Police Telecommunicator Trainee, Police 01/06/2020
Cheyenne Calle, Police Telecommunicator Trainee, Police 01/06/2020
Wycliffe Crosse Jr., Solid Waste Equipment Operator, Solid Waste 01/06/2020
James Cusic, Lead Parks Service Technician, Parks & Recreation 01/06/2020
Mark Fodor, Senior Accountant, Solid Waste 01/21/2020
Serena Lawrence, Stormwater Technician, Engineering 01/21/2020
John Kenny, Parks Service Technician, Parks & Recreation 01/21/2020
Marvin Garcia, Police Officer, Police 01/21/2020
Matthew High, Police Officer, Police 01/21/2020
Enea Kume, Parks Service Technician, Parks & Recreation 01/21/2020
Christopher Barber, Customer Service Assistant Manager, Utility Customer Service 02/03/2020
Jeffrey Zalmanoff, Fleet Mechanic, General Services 02/03/2020
Tara Deegan, Human Resources Staff Assistant, Human Resources 02/03/2020
Jourdon Rich, Parks Service Technician, Parks & Recreation 02/03/2020
Hannah Hodges, Crime Analyst, Police 02/03/2020
Steve Heppler, Wastewater Treatment Plant Operator, Public Utilities 02/03/2020
Bridget McCord, Police Telecommunicator Trainee, Police 02/03/2020
Philip Kirkpatrick, Sr. Economic Dev. Coord., Economic Dev. & Housing 02/18/2020
Peter Smutko, Gas Technician - Apprentice, Gas 02/18/2020
Guido Lubrano Jr., Gas Technician - Apprentice, Gas 02/18/2020
Mitchell Johnson, Parks Service Technician, Parks & Recreation 02/18/2020
Kenneth Kinnear, Recreation Specialist, Parks & Recreation 02/18/2020
Page 1 City of Clearwater Printed on 6/10/2020
File Number: ID#20-7577
Page 2 City of Clearwater Printed on 6/10/2020
Interoffice Correspondence Sheet
TO: Pension Advisory Committee
FROM: Jennifer Poirrier, Human Resources Director
SUBJECT: Recommendation for Acceptance into Pension Plan
DATE: February 24, 2020
Subject/Recommendation: Recommend approval of the new hires for acceptance into the Pension Plan as listed.
Name Job Classification Department Pension
Eligibility
Date
Jonathon Roth Survey Assistant Engineering 01/06/2020
Heather Davidson Human Resources Staff Assistant Human Resources 01/06/2020
Alyssa Gaudreault Recreation Manager - Volunteers Parks & Recreation 01/06/2020
Braxton Jones Parks Service Technician Parks & Recreation 01/06/2020
Owen Reich Police Telecommunicator Trainee Police 01/06/2020
Amanda Gill Police Telecommunicator Trainee Police 01/06/2020
Cheyenne Calle Police Telecommunicator Trainee Police 01/06/2020
Wycliffe Crosse Jr. Solid Waste Equipment Operator Solid Waste 01/06/2020
James Cusic Lead Parks Service Technician Parks & Recreation 01/06/2020
Mark Fodor Senior Accountant Solid Waste 01/21/2020
Serena Lawrence Stormwater Technician Engineering 01/21/2020
John Kenny Parks Service Technician Parks & Recreation 01/21/2020
Marvin Garcia Police Officer Police 01/21/2020
Matthew High Police Officer Police 01/21/2020
Enea Kume Parks Service Technician Parks & Recreation 01/21/2020
Christopher Barber Customer Service Assistant Manager Utility Customer Service 02/03/2020
Jeffrey Zalmanoff Fleet Mechanic General Services 02/03/2020
Tara Deegan Human Resources Staff Assistant Human Resources 02/03/2020
Jourdon Rich Parks Service Technician Parks & Recreation 02/03/2020
Hannah Hodges Crime Analyst Police 02/03/2020
Steve Heppler Wastewater Treatment Plant Operator Public Utilities 02/03/2020
Bridget McCord Police Telecommunicator Trainee Police 02/03/2020
Philip Kirkpatrick Sr. Economic Dev. Coord. Economic Dev. & Housing 02/18/2020
Peter Smutko Gas Technician - Apprentice Gas 02/18/2020
Guido Lubrano Jr. Gas Technician - Apprentice Gas 02/18/2020
Mitchell Johnson Parks Service Technician Parks & Recreation 02/18/2020
Kenneth Kinnear Recreation Specialist Parks & Recreation 02/18/2020
Cover Memo
City of Clearwater Main Library - Council
Chambers
100 N. Osceola Avenue
Clearwater, FL 33755
File Number: ID#20-7578
Agenda Date: 6/15/2020 Status: Agenda ReadyVersion: 2
File Type: Action ItemIn Control: Pension Trustees
Agenda Number: 4.2
SUBJECT/RECOMMENDATION:
Approve the following request of employee Mark Tokar, Parks and Recreation Department to
vest their pension as provided by Section 2.419 of the Employees’ Pension Plan.
SUMMARY:
Mark Tokar, Parks Service Foreman, Parks and Recreation Department, was employed by the
City on November 14, 2005, and began participating in the Pension Plan on that date. Mr.
Tokar terminated from City employment on January 25, 2020.
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.
Mr. Tokar will meet the non-hazardous duty criteria and begin collecting a pension in March
2030.
APPROPRIATION CODE AND AMOUNT:
N/A
USE OF RESERVE FUNDS:
N/A
Page 1 City of Clearwater Printed on 6/10/2020
Cover Memo
City of Clearwater Main Library - Council
Chambers
100 N. Osceola Avenue
Clearwater, FL 33755
File Number: ID#20-7579
Agenda Date: 6/15/2020 Status: Agenda ReadyVersion: 2
File Type: Action ItemIn Control: Pension Trustees
Agenda Number: 4.3
SUBJECT/RECOMMENDATION:
Approve the following request of employees William Buzzell, Solid Waste General Services
Department, Richard Hughes, Fire Department, Rose Lara, Public Utilities Department, Jane
Sloan, Planning & Development Department, Steven Smith, Fire Department and Mark
Wallace, Parks and Recreation Department, for a regular pension as provided by Sections
2.416 and 2.424 of the Employees’ Pension Plan.
SUMMARY:
William Buzzell, Solid Waste Manager, Solid Waste General Services Department, was
employed by the City on March 26, 1990, and his pension service credit is effective on that
date. His pension will be effective April 1, 2020. Based on an average salary of approximately
$67,108.05 over the past five years, the formula for computing regular pensions and Mr .
Buzzell’s selection of the 50% Joint and Survivor Annuity with a 10% partial lump sum, this
pension benefit will be approximately $48,396.00 annually.
Richard Hughes, Fire Lieutenant, Fire Department, was employed by the City on August 9,
1993, and his pension service credit is effective on that date. His pension will be effective
March 1, 2020. Based on an average salary of approximately $102,120.59 over the past five
years, the formula for computing regular pensions and Mr. Hughes’ selection of the 50% Joint
and Survivor Annuity, this pension benefit will be approximately $76,174.20 annually.
Rose Lara, Public Utilities Supervisor, Public Utilities Department, was employed by the City on
October 14, 1996, and her pension service credit is effective on that date. Her pension will be
effective April 1, 2020. Based on an average salary of approximately $48,470.74 over the past
five years, the formula for computing regular pensions and Ms. Lara selection of the 10 Year
Certain and Life Annuity with a 10% partial lump sum, this pension benefit will be approximately
$27,657.96 annually.
Jane Sloan, Development Review Tech II, Planning and Development Department, was
employed by the City on November 13, 2007, and her pension service credit is effective on
August 4, 2008. Her pension will be effective February 1, 2020. Based on an average salary of
approximately $34,107.74 over the past five years, the formula for computing regular pensions
and Ms. Sloan’s selection of the Life Annuity, this pension benefit will be approximately
$10,778.76 annually.
Steven Smith, Fire Lieutenant, Fire Department, was employed by the City on October 4, 1999,
and his pension service credit is effective on that date. His pension will be effective March 1,
2020. Based on an average salary of approximately $91,163.59 over the past five years, the
formula for computing regular pensions and Mr. Smith’s selection of the 50% Joint and Survivor
Annuity with a 10% partial lump sum, this pension benefit will be approximately $42,790.68
Page 1 City of Clearwater Printed on 6/10/2020
File Number: ID#20-7579
annually.
Mark Wallace, Sr Park Streets and Sidewalks Tech, Parks and Recreation Department, was
employed by the City on August 30, 1999, and his pension service credit is effective on October
18, 1999. His pension will be effective February 1, 2020. Based on an average salary of
approximately $38,473.47 over the past five years, the formula for computing regular pensions
and Mr. Wallace’s selection of the Life Annuity with a 10% partial lump sum, this pension
benefit will be approximately $19,316.88 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. Buzell, Ms. Lara, Ms. Sloan and Mr. Wallace 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.
Hughes and Mr. Smith have met the hazardous duty criteria.
APPROPRIATION CODE AND AMOUNT:
N/A
USE OF RESERVE FUNDS:
N/A
Page 2 City of Clearwater Printed on 6/10/2020
Cover Memo
City of Clearwater Main Library - Council
Chambers
100 N. Osceola Avenue
Clearwater, FL 33755
File Number: ID#20-7582
Agenda Date: 6/15/2020 Status: Agenda ReadyVersion: 2
File Type: Action ItemIn Control: Pension Trustees
Agenda Number: 4.4
SUBJECT/RECOMMENDATION:
.
Ratify and Confirm correction of error of underpayment of pension death benefit for Stephen
Doherty
SUMMARY:
APPROPRIATION CODE AND AMOUNT:
N/A
USE OF RESERVE FUNDS:
N/A
Page 1 City of Clearwater Printed on 6/10/2020