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12/06/1995 PENSION ADVISORY COMMITTEE CITY OF CLEARWATER December 6, 1995 Present: Edwin Hooper Chair Richard Breest Committee Member Fred Ratley Committee Member Michael Laursen Human Resources Director Jackie Kline Temporary Staff Assistant III Patricia O. Sullivan Board Reporter The Chair called the meeting to order at 9:32 a.m. at City Hall. To provide continuity for research, items are in agenda order although not necessarily discussed in that order. ITEM #2 - Approval of Minutes Member Breest moved to approve the minutes of the regular meeting of November 8, 1995, as recorded and submitted in written summation to each member. The motion was duly seconded and carried unanimously. ITEM #3 - Old Business a) Light Duty Policy (Cont'd) b) William Matlin - Mechanic II, Fleet Maintenance - Job-connected Disability Pension - Not present - Case pending c) Leo Thompson - Spray Technician, Parks & Recreation Department - Job-connected Disability Pension - Not present - Case pending d) Discussion regarding additional members of Pension Advisory Committee Human Resources Director Mike Laursen reported the City Commission appointed three Commissioners to the PAC (Pension Advisory Committee): 1) Mayor Garvey; 2) Commissioner Johnson; and 3) Commissioner Clark. ITEM #4 - New Business a) Special Meeting Mr. Laursen announced a meeting has been scheduled for Tuesday, December 12, 1995 at 9:00 a.m. in the Large Conference Room to overview the new pension Plan. Finance Director Margie Simmons will provide information regarding pension fund investments. Appointment of the seventh member will be discussed, a chair will be selected, and a meeting schedule will be established. b) Brenda McLaughlin - Police Communications Operator - Police Department - Reinstatement into Pension Plan - Ms. McLaughlin worked full-time from September 1982 to June 1987 and then part-time until the present. On January 1996, she will return to full-time status and has requested reinstatement into the Pension Plan with credit for her previous full-time service. Mr. Laursen said the Revised Plan, effective January 1, 1996, has provisions making it possible to buy back into the Plan. He said an actuarial evaluation would need to be done and indicated the amount required for reinvestment would likely be significantly greater than the amount withdrawn in 1987. Chair Hooper said under the current Plan, it is impossible to receive credit for previous service. It was suggested Ms. McLaughlin submit a written request after January 1, 1996, requesting the PAC to hear her request that her past service be credited. It was noted she will be accepted into the Pension Plan automatically as of the time of her return to full-time status, subject to passing the required physical exam. c) Edwin Hooper Chair Hooper said he will resign from the PAC effective January 2, 1996. His written resignation will be submitted later. He reported this today to expedite the appointment of his replacement. Mr. Laursen suggested the PAC take whatever action is necessary for a normal election. It was noted the process may take several months. d) Fred Ratley Member Ratley said he will not seek reelection when his term expires June 30, 1996. e) New Pension Plan Because of the members' experience, Mr. Laursen recommended they make suggestions regarding issues they feel need to be addressed, especially concerning the new Plan. He noted the new PAC will need to determine a number of things. For example, considering the new pre-existing clause, it may be appropriate for the PAC to review the City's pre-employment physical to widen its scope Mr. Laursen said under the new Plan, employees will be able to select benefits from various options and a new form will be required. The City's insurance consultant has put out a RFP (Request for Proposal) for a third-party administrator for the Plan. One of the administrator's roles will be to explain to employees the dollar values of the various options. Until the administrator has been appointed, that service will be provided by the City's Actuary, Steve Metz. Chair Hooper noted the new PAC will need to formulate a new set of policies, procedures, and forms. Staff will provide PAC members with a synopsis of the new Plan at the December 12, 1995 meeting. The Committee recessed from 9:55 to 9:59 a.m. ITEM #5 - Approval of New Members Chair Hooper moved to accept the following employee(s) into membership in the Pension Plan: Date of Pension Employment Elig Date. Regina Artus, Paralegal Legal Department 11/27/95 11/27/95 Randy Foltz, Utilities Chemist Engineering Dept./WPC 10/30/95 10/30/95 Andre Hudson, Recreation Leader Recreation Department 11/27/95 11/27/95 Kelly Legg, Telecommunication Supv Info. Mgmt. Dept. 11/27/95 11/27/95 Darnell Malone, Maintenance Worker I Parks & Rec. Dept/Parks 12/11/95 12/11/95 Thomas Robertson, Computer Aided Drafting Technician Gas Department 11/27/95 11/27/95 The motion was duly seconded and carried unanimously. ITEM #6 - Adjournment The meeting adjourned at 10:00 a.m.