04/15/2024 Pension Trustees Meeting Minutes April 15, 2024
City of Clearwater
Main Library- Council Chambers
100 N. Osceola Avenue
Clearwater, FL 33755
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Meeting Minutes
Monday, April 15, 2024
1 :00 PM
Main Library - Council Chambers
Pension Trustees
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City of Clearwater
Pension Trustees Meeting Minutes April 15, 2024
Roll Call
Present 5 - Chair Bruce Rector, Trustee Ryan Cotton, Trustee Michael Mannino,
Trustee David Allbritton, and Trustee Lina Teixeira
Also Present—Jennifer Poirrier—City Manager, Michael Delk — Assistant City
Manager, David Margolis - City Attorney, Rosemarie Call — City
Clerk, Nicole Sprague — Deputy City Clerk, and Tiffany Makras —
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 Rector
The meeting was called to order at 1:14 p.m.
2. Approval of Minutes
2.1 Approve the minutes of the February 12, 2024 Pension Trustees meeting as submitted in
written summation by the City Clerk.
Trustee Allbritton moved to approve the minutes of the February 12,
2024 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
The City Clerk said Items 4.1 through 4.3 need to be continued to the next meeting as the
items have not been reviewed by the Pension Advisory Committee. No action by the
Trustees is needed at this time.
4.1 Approve the new hires for acceptance into the Pension Plan as listed.
Name/Job Classification/Department Pension
Eligibility Date
William Perdue, Fleet Operations Trainer, General Services 12/18/2023
Alyssa Allen, Human Resources Analyst , Human Resources 12/18/2023
Michelle Wannike, Librarian , Library 12/18/2023
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City of Clearwater
Pension Trustees Meeting Minutes April 15, 2024
Mark Still, Code Inspector I , Planning & Development 12/18/2023
Hezekiah Swann, Solid Waste Worker I, Solid Waste & Recycling 12/18/2023
Vincent Hollingsworth, S.W. Worker I, Solid Waste & Recycling 12/18/2023
Sarah Davis, Recreation Leader I, Parks & Recreation 01/02/2024
Modesto Gonzalez, Traffic Engineering Assistant, Public Works 01/02/2024
Sam Wells, Utilities Mechanic, Public Utilities 01/02/2024
Jim Fry, Gas Operations Division Head, Gas 01/02/2024
Patricia Peterson, Librarian I, Library 01/02/2024
Isabella Patton, Library Assistant , Library 01/02/2024
Samantha Reilly, Engineering Specialist III, Public Works 01/02/2024
Lloyd Gardner, Industrial Electrician, Public Utilities 01/02/2024
Kemar Bonner, S.W. Equip. Operator, Solid Waste & Recycling 01/02/2024
Jordan Phillips, Stormwater Technician I, Public Works 01/02/2024
Delaney Rose, Librarian I, Library 01/02/2024
Steven Alejandre-Mar, Marine Facility Operator, Parks & Rec. 01/02/2024
Gregory Perles, Parks Service Supervisor II, Parks & Recreation 01/02/2024
Jason Larson, Police Telecommunicator I, Police 01/02/2024
Terrell Smith, S.W. Equipment Operator, Solid Waste & Recycling 01/08/2024
Raymond Dresch, Engineering Specialist III, Public Works 01/16/2024
Annabella Hullen, Engineer II, Public Works 01/16/2024
Darrell Perry, S.W. Equipment Operator, Solid Waste & Recycling 01/16/2024
Kenneth Scherer, Water Plant Operator Trainee, Public Utilities 01/16/2024
William Bridges, Recreation Leader I, Parks & Recreation 01/16/2024
Kayla Cowart, Customer Service Rep I, Planning & Development 01/16/2024
Sarah Crowell, Librarian I, Library 01/16/2024
Michael Alberty, Utility Dispatcher I, Gas 01/16/2024
Melissa Adams, Parks Service Technician I, Parks & Recreation 01/16/2024
Dizzmond Kelly, Meter Reader I, Finance & Budget 01/16/2024
Casey O'Day, Recreation Leader I, Parks & Recreation 01/16/2024
Krista Akers, Parks Service Technician I, Parks & Recreation 01/16/2024
Julie Quattrocki, Customer Service Rep I, Utility Customer Service 01/16/2024
Tracy Boone, Payroll Technician I, Police 01/16/2024
Christopher Corrales, Police Cadet, Police 01/16/2024
Peter Mullady, Police Cadet, Police 01/16/2024
Terry Winthrop, Police Cadet, Police 01/13/2024
Erin McHenry, Police Cadet, Police 01/13/2024
Madison Booth, Police Cadet, Police 01/13/2024
Kenneth Scherer, Water Plant Operator Trainee, Public Utilities 01/29/2024
Seanna White, Crime Analyst I, Police 01/29/2024
Scott Selover, Parks Service Technician I, Parks & Recreation 01/29/2024
Donna Groce,Accounting Technician I, Library 01/29/2024
Deandre Lane, Parks Service Technician I, Parks & Recreation 01/29/2024
Elizabeth Ponga, Police Telecommunicator I, Police 01/29/2024
Anthony Medina, Police Telecommunicator I, Police 01/29/2024
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City of Clearwater
Pension Trustees Meeting Minutes April 15, 2024
Brian Rautmann, Parking, Facility &Security Aide, Public Works 01/29/2024
Richard Hartman, Transportation Planner, Planning & Dev. 01/29/2024
Michael Gunnin, Wastewater Collection Tech. I, Public Utilities 01/29/2024
Misty Autery,Administrative Assistant , Public Utilities 01/29/2024
William McCoy, S.W. Equipment Oper., Solid Waste &Recycling 01/29/2024
AND
4.2 Approve the following request of employees Jason Gray, Public Utilities
Department, and Kevin Nurnberger, Planning and Development Department to vest their
pension as provided by Section 2.419 of the Employees' Pension Plan.
Jason Gray, Water Distribution Supervisor I, Public Utilities Department, was
employed by the City on November 18, 2002, and his pension service credit is
effective on that date. Mr. Gray terminated from city employment on February 2,
2024.
Kevin Nurnberger, Senior Planner, Planning and Development Department, was
employed by the City on October 18, 2010, and his pension service credit is
effective on that date. Mr. Nurnberger terminated from city employment on
September 5, 2023.
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 five or more years (non-hazardous duty) and ten or more years
(hazardous duty) 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 (1/1/13), a
member shall be eligible for retirement following the earlier of the date on which
a participant has reached the age of 55 years and completed 20 years of
credited service; the date on which a participant has reached age 65 years and
completed ten years of credited service; or the date on which a member has
completed 30 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 60 years and completed 25 years of credited
service; or the date on which a participant has reached the age of 65 years and
completed ten years of credited service. Mr. Gray will meet the non-hazardous
duty criteria and begin collecting a pension in December of 2032. Mr.
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City of Clearwater
Pension Trustees Meeting Minutes April 15, 2024
Nurnberger will meet the non-hazardous duty criteria and begin collecting a
pension in November of 2030.
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 20 years of credited service
regardless of age, or the date on which the participant has reached 55 years
and completed ten years of credited service.
AND
4.3 Approve the following request of Stephen Avise, Fire Department, Heath
Brenner, Fire Department, Regina Dewitt, City Attorney's Office, Randy Foltz, Public
Utilities Department, John Garakop, Solid Waste & Recycling Department, Carol
McAnally, Police Department, Howard McChesney, Information Technology Department,
Christian Schuele, Fire Department, and Laurie Sullivan, Library Department for a regular
pension as provided by Sections 2.416 and 2.424 of the Employees' Pension Plan.
Stephen Avise, Firefighter/Driver-Operator, Fire Department, was employed by
the City on February 9, 2004, and his pension service credit is effective on that
date. His pension will be effective March 1, 2024. Based on an average salary
of approximately $83,837.32 over the past five years, the formula for computing
regular pensions and Mr. Avise's selection of the 100% Joint and Survivor
Annuity with the 30% partial lump sum, this pension benefit will be
approximately $31,777.44 annually.
Heath Brenner, Fire Lieutenant, Fire Department, was employed by the City on
February 9, 2004, and his pension service credit is effective on that date. His
pension will be effective March 1, 2024. Based on an average salary of
approximately $126,735.92 over the past five years, the formula for computing
regular pensions and Mr. Brenner's selection of the 50% Joint and Survivor
Annuity with the 30% partial lump sum, this pension benefit will be
approximately $49,771.08 annually.
Regina Dewitt, Legal Office Administrator, City Attorney's Office, was employed
by the City on November 27, 1995, and her pension service credit is effective on
that date. Her pension will be effective April 1, 2024. Based on an average
salary of approximately $92,521.59 over the past five years, the formula for
computing regular pensions and Ms. Dewitt's selection of the 75% Joint &
Survivor Annuity, this pension benefit will be approximately $66,199.32 annually.
Randy Foltz, Utilities Maintenance Supervisor, Public Utilities Department, was
employed by the City on October 30, 1995, and his pension service credit is
effective on that date. His pension will be effective March 1, 2024. Based on an
average salary of approximately $67,237.22 over the past five years, the formula
for computing regular pensions and Mr. Foltz's selection of the 100% Joint and
Survivor Annuity with the 10% partial lump sum, this pension benefit will be
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City of Clearwater
Pension Trustees Meeting Minutes April 15, 2024
approximately $38,775.84 annually.
John Garakop, Welder/Manufacturer, Solid Waste & Recycling Department,
was employed by the City on November 28, 2005, and his pension service
credit is effective on that date. His pension will be effective May 1, 2024. Based
on an average salary of approximately $53,367.67 over the past five years, the
formula for computing regular pensions and Mr. Garakop's selection of the 75%
Joint and Survivor Annuity, this pension benefit will be approximately $22,553.04
annually
Carol McAnally, Police Records Specialist, Police Department, was employed
by the City on May 11, 1998, and her pension service credit is effective on that
date. Her pension will be effective March 1, 2024. Based on an average salary
of approximately $42,372.93 over the past five years, the formula for computing
regular pensions and Ms. McAnally's selection of the Single Life Annuity, this
pension benefit will be approximately $30,070.08 annually.
Howard McChesney, Senior Network Engineer, Information Technology
Department, was employed by the City on June 12, 1995, and his pension
service credit is effective on that date. His pension will be effective April 1,
2024. Based on an average salary of approximately $100,113.33 over the past
five years, the formula for computing regular pensions and Mr. McChesney's
selection of the Single Life Annuity, this pension benefit will be approximately
$79,289.76 annually.
Christian Schuele, Fire Inspector, Fire Department, was employed by the City
on March 10, 2003, and his pension service credit is effective on that date. His
pension will be effective February 1, 2024. Based on an average salary of
approximately $100,034.61 over the past five years, the formula for computing
regular pensions and Mr. Schuele's selection of the Single Life Annuity with the
20% partial lump sum, this pension benefit will be approximately $46,234.20
annually.
Laurie Sullivan, Library Assistant, Library Department, was employed by the
City on May 19, 2003, and her pension service credit is effective on August 21 st,
2006. Her pension will be effective May1, 2024. Based on an average salary of
approximately $34,957.88 over the past five years, the formula for computing
regular pensions and Ms. Sullivan's selection of the Single Life Annuity, this
pension benefit will be approximately $16,994.40 annually.
Section 2.416 provides for normal retirement eligibility for non-hazardous duty
employees hired prior to the effective date of this reinstatement (1/1/13), a
member shall be eligible for retirement following the earlier of the date on which
a participant has reached the age of 55 years and completed 20 years of
credited service; the date on which a participant has reached age 65 years and
completed ten years of credited service; or the date on which a member has
completed 30 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
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City of Clearwater
Pension Trustees Meeting Minutes April 15, 2024
participant has reached the age of 60 years and completed 25 years of credited
service; or the date on which a participant has reached the age of 65 years and
completed ten years of credited service. Ms. Dewitt, Mr. Foltz, Mr. Garakop, Ms.
McAnally, Mr. McChesney, and Ms. Sullivan 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 20 years of credited service
regardless of age, or the date on which the participant has reached 55 years
and completed ten years of credited service. Mr. Avise, Mr. Brenner, and Mr.
Schuele have met the hazardous duty criteria.
Trustee Mannino moved to continue Items 4.1 through 4.3 to the
next meeting. The motion was duly seconded and carried
unanimously.
4.4 Annual review of the Employees' Pension Plan investment performance for the calendar
and plan year that ended December 31, 2023.
Annually a presentation of the Plan's calendar year investment performance is
made to the Trustees. For calendar 2023, the Plan realized an investment
return of 13.46%, versus the plan's benchmark of 11.42%. It was a very good
year of investment performance on both an absolute basis and a relative basis.
For the last three calendar years, the plan had an average annualized return of
3.16%, versus a benchmark of 4.44%; and for the last five calendar years, the
plan had an annualized return of 8.83% versus a benchmark of 8.44%.
The investment committee, with the assistance of the Plan's investment
consultant, CapTrust Advisors, meets on at least a quarterly basis to monitor
asset allocation and money manager performance, and will continue to
recommend money manager terminations, replacements, and/or additions
when appropriate.
STRATEGIC PRIORITY:
Professional administration of the pension plan assists in attracting and
retaining top-quality personnel via this attractive and competitive compensation
benefit.
4.5 Appoint an individual to the Pension Investment Committee with a term to expire April 18,
2026.
APPOINTMENT WORKSHEET
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City of Clearwater
Pension Trustees
Meeting Minutes April 15, 2024
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 HAD A
TERM THAT EXPIRED AND NOW REQUIRES REPLACEMENT BY A NEW
APPOINTEE:
1. Sheldon Goldberg - 2060 Marilyn Street, 33765 - Real Estate Broker
Resigned 11/19/21
THE NAME BELOW IS BEING SUBMITTED FOR CONSIDERATION TO FILL
THE ABOVE VACANCY:
1. John Connolly - 521 Mandalay Ave, #402, 33767 - Retired
Financial/Consulting/Management
2. Cary Green - 1100 Cleveland St, #204, 33755 - Financial Planner
Trustee Allbritton moved to appoint John Connolly to the Pension
Investment Committee with a term to expire April 4, 2026. The
motion was duly seconded and carried unanimously.
5. Old Business Items — None.
6. Adjourn
Attest
The meeting adjourned at 1:30 p.m.
Chair
Employ
• City Clerk
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City of Clearwater
Ian Trustees