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08/16/2021 Pension Trustees Meeting Minutes August 16, 2021 City of Clearwater Main Library- Council Chambers 100 N. Osceola Avenue Clearwater, FL 33755 m Meeting Minutes Monday, August 16, 2021 9:00 AM Main Library - Council Chambers Pension Trustees Page 1 City of Clearwater Pension Trustees Meeting Minutes August 16, 2021 Roll Call Present 5 - Chair Frank Hibbard, Trustee David Allbritton, Trustee Hoyt Hamilton, Trustee Kathleen Beckman, and Trustee Mark Bunker Also Present— Micah Maxwell — Assistant City Manager, Michael Delk — Assistant City Manager, Pamela K. Akin — City Attorney, Rosemarie Call — City Clerk, Nicole Sprague — Deputy City Clerk and Jennifer Poirrier— 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 Hibbard The meeting was called to order at 9:00 a.m. A moment of silence was observed in tribute for the late City Manager William B. Horne ll. 2. Approval of Minutes 2.1 Approve the June 14, 2021 Pension Trustees Meeting Minutes as submitted in written summation by the City Clerk. Trustee Hamilton moved to approve the June 14, 2021 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. Name/Job Classification/ Department Pension Eligibility Date Kadarious Brown, Solid Waste Worker, Solid Waste & Recycling 05/10/2021 Page 2 City of Clearwater Pension Trustees Meeting Minutes August 16, 2021 Carlos Dennis, Solid Waste Worker, Solid Waste & Recycling 05/10/2021 Oral Grant, Streets &Sidewalks Technician, Parks & Recreation 05/10/2021 Shay Mavis, Utilities Mechanic, Public Utilities 05/10/2021 Kevin Ramberac, Parking Enforcement Specialist , Engineering - Parking 05/10/2021 Logan Wells, Parks Service Technician, Parks & Recreation 05/10/2021 Kyon Devine, Wastewater Collections Technician, Public Utilities 05/24/2021 Corey Dunn, Solid Waste Equipment Operator, Solid Waste & Recycling 05/24/2021 Damon Merricks, Solid Waste Equipment Oper., Solid Waste & Recycling 05/24/2021 Bret Mershon, Skilled Tradesworker, General Support Services 05/24/2021 Christopher Rose, Solid Waste Equipment Oper., Solid Waste & Recycling 05/24/2021 Kylon Lamar, Parks Service Technician, Parks & Recreation 06/07/2021 Kendall Clark, Parking Enforcement Specialist, Engineering/Parking 06/21/2021 Joel Rudolph, Traffic Signs & Markings Tech, Engineering/Traffic 06/21/2021 Lindsey Dicicco, Accounting Technician, Parks & Recreation 06/21/2021 Nathan Pandy, Senior Staff Assistant, Public Utilities 06/21/2021 Trustee Allbritton 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 Mark Coffin, Parks and Recreation Department, Michelle Fry, Gas Systems Department, Richard Long, Police Department and Scott O'Hare, Police Department, to vest their pensions as provided by Section 2.419 of the Employees' Pension Plan. Mark Coffin, Senior Parks Service Tech, Parks and Recreation Department, was employed by the City on April 8, 2002, and began participating in the on April 7, 2003. Mr. Coffin terminated from city employment on June 2, 2021. Michelle Fry, Engineering Tech, Gas Systems Department, was employed by the City on June 26, 2006, and began participating in the Pension Plan on that date. Ms. Fry terminated from city employment on June 11, 2019. Richard Long, Police Sergeant, Police Department, was employed by the City on January 12, 2004, and began participating in the Pension Plan on that date. Mr. Long terminated from city employment on May 7, 2021. Scott O'Hare, Police Officer, Police Department, was employed by the City on July 16, 2001, and began participating in the Pension Plan on that date. Mr. Page 3 City of Clearwater Pension Trustees Meeting Minutes August 16, 2021 O'Hare terminated from city employment on June 16, 2021. 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. Coffin will meet the non-hazardous duty criteria and begin collecting a pension in May 2023. Ms. Fry will meet the non-hazardous duty criteria and begin collecting a pension in December 2027. 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. Long will meet the hazardous duty criteria and begin collecting pension in February 2024. Mr. O'Hare will meet the hazardous duty criteria and begin collecting pension in August 2021. Trustee Beckman moved to approve the following request of employees Mark Coffin, Parks and Recreation Department, Michelle Fry, Gas Systems Department, Richard Long, Police Department and Scott O'Hare, Police Department, to vest their pensions 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 Edward Davis, Parks and Recreation Department, Paul Estes, Engineering Department, Kimberly Feeney, Planning and Page 4 City of Clearwater Pension Trustees Meeting Minutes August 16, 2021 Development Department, William Higginbotham III, Police Department, Cindy Jones, Police Department, JC Jones, General Support Services Department, Steven Kotches, Gas System Department, Brian McAuley, Police Department, Stephen Miller, Gas System Department, Kerry Nelson, Gas System Department, Michael Ogliaruso, Police Department and Brian Rogers, Police Department, for a regular pension as provided by Sections 2.416 and 2.424 of the Employees' Pension Plan. Edward Davis, Arborist, Parks and Recreation Department, was employed by the City on March 19, 1984, and his pension service credit is effective on that date. His pension will be effective October 1, 2021. Based on an average salary of approximately $52,403.57 over the past five years, the formula for computing regular pensions and Mr. Davis' selection of the 10 Year Certain and Life Annuity, this pension benefit will be approximately $51,192.84 annually. Paul Estes, Street Sweeper Operator, Engineering Department, was employed by the City on June 4, 1990, and his pension service credit is effective on that date. His pension will be effective July 1, 2021. Based on an average salary of approximately $54,021.21 over the past five years, the formula for computing regular pensions and Mr. Estes' selection of the Joint and Survivor Annuity, this pension benefit will be approximately $46,164.48 annually. Kimberly Feeney, Senior Staff Assistant, Planning and Development Department, was employed by the City on October 9, 2000, and her pension service credit is effective on April 7, 2001. Her pension will be effective September 1, 2021. Based on an average salary of approximately $41,121.08 over the past five years, the formula for computing regular pensions and Ms. Feeney's selection of the Life Annuity, this pension benefit will be approximately $23,059.56 annually. William Higginbotham III, Police Officer, Police Department, was employed by the City on October 9, 2000, and his pension service credit is effective on that date. His pension will be effective June 1, 2021. Based on an average salary of approximately $86,976.00 over the past five years, the formula for computing regular pensions and Mr. Higginbotham's selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $48,130.44 annually. Cindy Jones, Custodial Worker, Police Department, was employed by the City on July 10, 1995, and her pension service credit is effective on that date. Her pension will be effective July 1, 2021. Based on an average salary of approximately $33,898.63 over the past five years, the formula for computing regular pensions and Ms. Jones' selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $22,042.92 annually. CJ Jones, Skilled Tradesworker, General Support Services Department, was employed by the City on February 1, 1999, and his pension service credit is effective on that date. His pension will be effective July 1, 2021. Based on an Page 5 City of Clearwater Pension Trustees Meeting Minutes August 16, 2021 average salary of approximately $43,600.55 over the past five years, the formula for computing regular pensions and Mr. Jones' selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $19,775.40 annually. Steven Kotches, Senior Gas Technician, Gas System Department, was employed by the City on December 7, 1998, and his pension service credit is effective on December 23, 1998. His pension will be effective June 1, 2021. Based on an average salary of approximately $42,994.41 over the past five years, the formula for computing regular pensions and Mr. Kotches' selection of the 10 Year Certain and Life Annuity, this pension benefit will be approximately $25,481.52 annually. Brian McAuley, Police Major, Police Department, was employed by the City on March 30, 1992, and his pension service credit is effective on that date. His pension will be effective June 1, 2021. Based on an average salary of approximately $126,205.15 over the past five years, the formula for computing regular pensions and Mr. McAuley's selection of the 100% Joint and Survivor Annuity, this pension benefit will be approximately $99,128.28 annually. Steven Miller, Gas System Specialist, Gas System Department, was employed by the City on May 28, 1996, and his pension service credit is effective on that date. His pension will be effective July 1, 2021. Based on an average salary of approximately $52,490.71 over the past five years, the formula for computing regular pensions and Mr. Miller's selection of the 50% Joint and Survivor Annuity, this pension benefit will be approximately $34,428.12 annually. Kerry Nelson, Gas System Specialist, Gas System Department, was employed by the City on June 28, 2004, and his pension service credit is effective on that date. His pension will be effective August 1, 2021. Based on an average salary of approximately $49,434.42 over the past five years, the formula for computing regular pensions and Mr. Nelson's selection of the Life Annuity, this pension benefit will be approximately $23,093.52 annually. Michael Ogliaruso, Police Lieutenant, Police Department, was employed by the City on January 8, 1996, and his pension service credit is effective on that date. His pension will be effective July 1, 2021. Based on an average salary of approximately $121,872.24 over the past five years, the formula for computing regular pensions and Mr. Ogliaruso's selection of the Life Annuity with a 30% partial lump sum, this pension benefit will be approximately $60,100.56 annually. Brian Rogers, Police Officer, Police Department, was employed by the City on July 16, 2001, and his pension service credit is effective on that date. His pension will be effective August 1, 2021. Based on an average salary of approximately $85,594.47 over the past five years, the formula for computing regular pensions and Mr. Rogers' selection of the 100% Joint and Survivor Annuity this pension benefit will be approximately $46,274.88 annually. Section 2.416 provides for normal retirement eligibility for non-hazardous duty Page 6 City of Clearwater Pension Trustees Meeting Minutes August 16, 2021 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. Davis, Mr. Estes, Ms. Feeney, Ms. Jones, Mr. Jones, Mr. Kotches, Mr. Miller and Mr. Nelson 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. Higginbotham, Mr. McAuley, Mr. Ogliaruso and Mr. Rogers have met the hazardous duty criteria. Trustee Bunker moved to approve the following request of employees Edward Davis, Parks and Recreation Department, Paul Estes, Engineering Department, Kimberly Feeney, Planning and Development Department, William Higginbotham III, Police Department, Cindy Jones, Police Department, JC Jones, General Support Services Department, Steven Kotches, Gas System Department, Brian McAuley, Police Department, Stephen Miller, Gas System Department, Kerry Nelson, Gas System Department, Michael Ogliaruso, Police Department and Brian Rogers, 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 Approve pension plan administrative expenditures for fiscal year 2022 totaling not-to-exceed $371,900. 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 2022 reflect a $9,400, or 2.5%, Page 7 City of Clearwater Pension Trustees Meeting Minutes August 16, 2021 decrease over the approved fiscal 2021 expenditures. This net decrease results primarily from decreased annual licensing and maintenance costs for the new Tyler Munis payroll system. 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. Expenditures for physicals are per the pension ordinance requirement that new employees must pass a comprehensive physical exam to be accepted into the pension plan. 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 and special projects) are all governed by contracts separately approved by the Trustees and are not included in this agenda item total. APPROPRIATION CODE AND AMOUNT: 646xxxx-5xxxxx (various pension plan expenditure codes) Finance Director Jay Ravins provided a PowerPoint presentation. Trustee Hamilton moved to approve pension plan administrative expenditures for fiscal year 2022 totaling not-to-exceed $371,900. The motion was duly seconded and carried unanimously. 5. Director's Report — None. Page 8 City of Clearwater Pension Trustees 6. Adjourn Attest City Clerk Meeting Minutes August 16, 2021 The meeting adjourned at 9:06 a.m. City of Clearwater Chair Employees' Pension Plan Trustees Page 9