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12/01/2025Monday, December 1, 2025 1:00 PM City of Clearwater Main Library - Council Chambers 100 N. Osceola Avenue Clearwater, FL 33755 Main Library - Council Chambers Pension Trustees Meeting Agenda - Final December 1, 2025Pension Trustees Meeting Agenda - Final 1. Call to Order 2. Approval of Minutes ID#25-0147 Approve the minutes of the November 3, 2025 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 ID#25-1118 Approve the new hires for acceptance into the Pension Plan as listed. 4.2 ID#25-1119 Approve the following request of employee Michael Beaver, Police Department and Andrew Sullivan, Fire Department, to vest their pension as provided by Section 2.419 of the Employees’ Pension Plan. 4.3 ID#25-1120 Approve the following request of David Clark, Planning & Development Department, John Klinefelter, Fire Department, Gary Martinez, Police Department, Norton McGiffin, Public Works Department, Gabriel Parra, Economic Development & Housing Department, Marvin Pettingill, Fire Department, Terry Swatzell, Parks & Recreation Department, Anita “Lynn” Vincent, Finance Department, and Cheryl Wood, Police Department for a regular pension as provided by Sections 2.416 and 2.424 of the Employees’ Pension Plan. 5. Adjourn Page 2 City of Clearwater Printed on 11/24/2025 Cover Memo City of Clearwater Main Library - Council Chambers 100 N. Osceola Avenue Clearwater, FL 33755 File Number: ID#25-0147 Agenda Date: 12/1/2025 Status: Agenda ReadyVersion: 1 File Type: MinutesIn Control: Pension Trustees Agenda Number: SUBJECT/RECOMMENDATION: Approve the minutes of the November 3, 2025 Pension Trustees meeting as submitted in written summation by the City Clerk. Page 1 City of Clearwater Printed on 11/24/2025 Pension Trustees Meeting Minutes November 3, 2025 Page 1 City of Clearwater City of Clearwater Main Library - Council Chambers 100 N. Osceola Avenue Clearwater, FL 33755 Meeting Minutes Monday, November 3, 2025 1:00 PM Main Library - Council Chambers Pension Trustees Draft Pension Trustees Meeting Minutes November 3, 2025 Page 2 City of Clearwater 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, Daniel Slaughter – Assistant City Manager, David Margolis – City Attorney, 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. Unapproved 1. Call to Order – Chair Rector The meeting was called to order at 1:37 p.m. 2. Approval of Minutes 2.1 Approve the minutes of the August 18, 2025 Pension Trustees meeting as submitted in written summation by the City Clerk. Trustee Teixeira moved to approve the minutes of the August 18, 2025 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 termination of mid-cap growth equity money manager Artisan Partners and authorize the appropriate officials to execute same. Artisan Partners was hired as a mid-cap growth equity money manager for the plan in August 2001. As of June 30, 2025, the market value of the plan’s investment in Artisan’s mid-cap growth product totaled $57.2 million, or 4.11% of the Plan’s total investment portfolio. Artisan’s performance has declined in recent years, as detailed below. The Pension Investment Committee unanimously recommended termination at their June 5, 2025, quarterly committee meeting. Performance versus benchmark index as of June 30, 2025: Draft Pension Trustees Meeting Minutes November 3, 2025 Page 3 City of Clearwater Last year Last 3 years Last 5 years Net of fees return 14.72% 13.08% 6.57% Benchmark index 26.49% 21.46% 12.65% Trustee Allbritton moved to approve the termination of mid-cap growth equity money manager Artisan Partners and authorize the appropriate officials to execute same. The motion was duly seconded and carried unanimously. 4.2 Approve Investment Management Agreement with Northern Trust Investments, Inc. for a separately managed mid-cap growth equity index investment account and authorize the appropriate officials to execute same. The Pension Investment Committee is recommending the addition of a separately managed mid-cap growth equity index fund. This index account will be used to replace terminated money manager Artisan Partners if approved by the Trustees. The Pension Investment Committee unanimously recommends Northern Trust’s separately managed mid-cap growth index account for an initial investment of $60 million, or approximately 4.3% of the total plan investment portfolio. The addition of this index fund increases the diversification of the mid-cap equity category by allocating current actively managed monies to a passive index fund with lower management fees. Investment manager fees will be 4 basis points (0.04%), versus a previous fee of 80 basis points (0.80%) for the actively managed account that is being terminated. The pension plan’s attorney, Klausner, Kaufman, Jensen and Levinson, has reviewed and approved the Investment Management Agreement. APPROPRIATION CODE AND AMOUNT: 6467410-530100 $25,000 annually STRATEGIC PRIORITY: Trustee Mannino moved to approve Investment Management Agreement with Northern Trust Investments, Inc. for a separately managed mid-cap growth equity index investment account and authorize the appropriate officials to execute same. The motion was duly seconded and carried unanimously. Draft Pension Trustees Meeting Minutes November 3, 2025 Page 4 City of Clearwater 4.3 Approve changes to the City of Clearwater Employees’ Pension Fund Statement of Investment Objectives and Guidelines (Investment Policy) to update the fund’s investment benchmark index, to adjust the minimum allocation to fixed income, and other minor changes as recommended by the Plan’s Investment Committee. The Pension Plan’s investment policy was last revised in December of 2023. The policy was recently reviewed by the Plan’s Investment Committee for recommended revisions as proposed below: • The Plan’s custom benchmark for performance measurement was updated to more accurately reflect the Plan’s asset allocations. • The minimum allocation to domestic fixed income was reduced from 25% to 20% due to the Plan’s diversification into real estate and infrastructure, and to decrease the potential for noncompliance due to volatility in the stock market and related allocations to equities. • Minor change to eliminate a position on the committee (Finance Debt Manager) due to elimination of the position. • Minor change to “Investment Return Objectives” to revise “materially above average” to a more specific “50th percentile or above over a five-year period”. • Various other minor wordsmithing changes In response to a question, Finance Director Jay Ravins said the Investment Committee reviews the statement of investment objectives and guidelines annually, recommending substantive changes as needed. Trustee Cotton moved to approve changes to the City of Clearwater Employees’ Pension Fund Statement of Investment Objectives and Guidelines (Investment Policy) to update the fund’s investment benchmark index, to adjust the minimum allocation to fixed income, and other minor changes as recommended by the Plan’s Investment Committee. The motion was duly seconded and carried unanimously. 4.4 Approve the new hires for acceptance into the Pension Plan as listed. Draft Pension Trustees Meeting Minutes November 3, 2025 Page 5 City of Clearwater Name/Job Classification/Department Pension Eligibility Date Gabriel Timberlake, Aquatics Coordinator, Parks & Recreation 06/14/2025 Aulden Lloyd, Risk Management Specialist I, Finance & Budget 06/16/2025 Brandon Nault, Customer Service Rep I, Utility Customer Service 06/16/2025 Celeste Casillas, Police Cadet, Police Department 06/16/2025 Holden Midkiff, Police Cadet, Police Department 06/16/2025 Samuel Miller, Solid Waste Worker I, Solid Waste & Recycling 06/16/2025 Skyler Belloise, Engineering Specialist I, Public Utilities 06/16/2025 Thomas Glick, Police Cadet, Police Department 06/16/2025 Yan Ramirez-Figueroa, Solid Waste Worker I, Solid Waste & Recycling 06/16/2025 Alexandra Vakos, Police Officer, Police Department 06/30/2025 Bryce Miller, Police Officer, Police Department 06/30/2025 Courtney Davis, Parks Service Technician I, Parks & Recreation 06/30/2025 Crystal Flores, Network Analyst I, Information Technology 06/30/2025 Draft Pension Trustees Meeting Minutes November 3, 2025 Page 6 City of Clearwater Dehvan Truckenmiller, Police Officer, Police Department 06/30/2025 Jack Donahue, Public Info Coordinator I, Public Communications 06/30/2025 Joseph Phillips, Parks Service Technician I, Parks & Recreation 06/30/2025 Kyle Pauze, Network Analyst I, Information Technology 06/30/2025 Markus Jalaber, Water Distribution Operator Trainee, Public Utilities 06/30/2025 Regina Bavington, Account Collector I, Utility Customer Service 06/30/2025 Aaron Head, Solid Waste Worker I, Solid Waste & Recycling 07/14/2025 Aidan Coyne, Parks Service Technician III, Parks & Recreation 07/14/2025 Caden Skaggs, Gas Tech Apprentice, Gas System 07/14/2025 Cage Gregory, Gas Technician II, Gas System 07/14/2025 Cassidy Gordon, Customer Service Rep I, Utility Customer Service 07/14/2025 Laura Daniels, Accounting Tech I, Parks & Recreation 07/14/2025 Timothy Huse, Solid Waste Worker I, Solid Waste & Recycling 07/14/2025 Tyler Hileman, Parks Service Technician I, Parks & Recreation 07/14/2025 Kristopher Williams, Solid Waste Worker I, Solid Waste & Recycling 07/26/2025 Draft Pension Trustees Meeting Minutes November 3, 2025 Page 7 City of Clearwater Adam Singer, Parking, Fac & Sec Aide, Marine & Aviation 07/28/2025 Anthony Walker-Collins, Solid Waste Worker I, Solid Waste & Recycling 07/28/2025 David Wells, Streets & Sidewalks Tech I, Public Works 07/28/2025 Gabriel Greco Gilreath, Meter reader I, Utility Customer Service 07/28/2025 Jason Mckoy, Industrial Electrician, Public Utilities 07/28/2025 Marques Alexander, Solid Waste Worker I, Solid Waste & Recycling 07/28/2025 Ramona Hunter, CRA Coordinator, Community Redevelopment Agency 07/28/2025 Wade Brockman, Streets & Sidewalks Tech I, Public Works 07/28/2025 Aaron Cornwell, Scada Specialist, Public Utilities 08/11/2025 Jayce Ortiz, Solid Waste Worker I, Solid Waste & Recycling 08/11/2025 Kenyatta Anderson, Solid Waste Worker I, Solid Waste & Recycling 08/11/2025 Rashad Banks, Solid Waste Worker I, Solid Waste & Recycling 08/11/2025 Trustee Teixeira moved to approve the new hires for acceptance into the Pension Plan as listed. The motion was duly seconded and carried unanimously. 4.5 Approve the following request of employee Michael Morea, Police Department, to vest his pension as provided by Section 2.419 of the Employees’ Pension Plan. Draft Pension Trustees Meeting Minutes November 3, 2025 Page 8 City of Clearwater Micheal Morea, Police Officer, Police Department, was employed by the City on January 9, 2006, and his pension service credit is effective on that date. Mr. Morea terminated from city employment on June 11, 2025. 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 five 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 five 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 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. Morea will meet the hazardous duty criteria and begin collecting a pension in February of 2026. Trustee Allbritton moved to approve the following request of employee Michael Morea, Police Department, to vest his pension as provided by Section 2.419 of the Employees’ Pension Plan. The motion was duly seconded and carried unanimously. 4.6 Approve the following request of Steven Baginski, Police Department, Jevon Graham, Fire Department, and Sandra Lear, Information Technology Department for a regular pension as provided by Sections 2.416 and 2.424 of the Employees’ Pension Plan. Steven Baginski, Police Lieutenant, Police Department, was employed by the Draft Pension Trustees Meeting Minutes November 3, 2025 Page 9 City of Clearwater City on February 6, 1995, and his pension service credit is effective on that date. His pension will be effective September 1, 2025. Based on an average salary of approximately $150,847.68 over the past five years, the formula for computing regular pensions and Mr. Baginski’s selection of the 100% Joint and Survivor Annuity with the 30% partial lump sum, this pension benefit will be approximately $86,947.32 annually. Jevon Graham, Fire Division Chief, Fire Department, was employed by the City on July 19, 1999, and his pension service credit is effective on that date. His pension will be effective September 1, 2025. Based on an average salary of approximately $121,962.86 over the past five years, the formula for computing regular pensions and Mr. Graham’s selection of the Single Life Annuity, this pension benefit will be approximately $88,219.08 annually. Sandra Lear, Business System Analyst II, Information Technology Department, was employed by the City on November 10, 1997, and her pension service credit is effective on that date. Her pension will be effective January 1, 2026. Based on an average salary of approximately $97,957.74 over the past five years, the formula for computing regular pensions and Ms. Lear’s selection of the Single Life Annuity, this pension benefit will be approximately $75,779.16 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 five 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 five years of credited service. Ms. Lear has 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. Baginski and Mr. Graham have met the hazardous duty criteria. Trustee Mannino moved to approve the following request of Steven Baginski, Police Department, Jevon Graham, Fire Department, and Sandra Lear, Information Technology Department for a regular Draft Pension Trustees Meeting Minutes November 3, 2025 Page 10 City of Clearwater pension as provided by Sections 2.416 and 2.424 of the Employees’ Pension Plan. The motion was duly seconded and carried unanimously. 5. Director's Report – None. 6. Adjourn The meeting adjourned at 1:44 p.m. Chair Employees’ Pension Plan Trustees Attest City Clerk Draft Cover Memo City of Clearwater Main Library - Council Chambers 100 N. Osceola Avenue Clearwater, FL 33755 File Number: ID#25-1118 Agenda Date: 12/1/2025 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: APPROPRIATION CODE AND AMOUNT: N/A USE OF RESERVE FUNDS: N/A Page 1 City of Clearwater Printed on 11/24/2025 Interoffice Correspondence Sheet TO: Pension Advisory Committee FROM: Tiffany Makras, Human Resources Director SUBJECT: Recommendation for Acceptance into Pension Plan DATE: November 13, 2025 Subject/Recommendation: Recommend approval of the new hires for acceptance into the Pension Plan as listed. Name Job Classification Department Pension Eligibility Date Todd Brown Stormwater Technician I Public Works 08/25/2025 Branden Hill Construction Inspector I Public Works 08/25/2025 Jaylyn Kimbrough Stormwater Technician II Public Works 08/25/2025 Luis Nava Business Systems Analyst I Public Utilities 08/25/2025 Johannes Rech Parks Service Technician I Parks & Recreation 08/25/2025 Cassandra Thomas Human Resources Analyst I Human Resources Department 08/25/2025 Brandy Bobb Marine Facility Operator Parks & Recreation 09/08/2025 Brandon Campbell Solid Waste Equipment Operator Solid Waste & Recycling 09/08/2025 Joshua Cross Police Cadet Police Department 09/08/2025 Justin Felix-Feliciano Police Cadet Police Department 09/08/2025 Taner Hamzawi Engineer II Public Works 09/08/2025 Dimitri Higgins Parks Service Technician I Parks & Recreation 09/08/2025 Ambre Jordan Marine Facility Operator Parks & Recreation 09/08/2025 James Larsen Building Inspector Technician Planning & Development 09/08/2025 Rosalee Martinez Marine Facility Operator Parks & Recreation 09/08/2025 Viktoria Poniava Engineering Specialist III Public Works 09/08/2025 Andrew Ramos Parking Enforcement Specialist Public Works 09/08/2025 Thomas Super Solid Waste Equipment Operator Solid Waste & Recycling 09/08/2025 Cristian Ybarra Stormwater Technician I Public Works 09/08/2025 Richard Gardner Engineer II Public Works 09/20/2025 Jamal Hairston Human Resources Analyst I Human Resources Department 09/22/2025 Edwin Simmonds Parking Enforcement Specialist Public Works 09/22/2025 Nicholas Spach Parks Service Technician I Parks & Recreation 10/04/2025 Nathaniel Bermudez Parks Service Technician I Parks & Recreation 10/06/2025 Cirila Cervantes Gutieerez Custodial Worker Police Department 10/06/2025 Nicholas Cvetanovich Parks Service Technician I Parks & Recreation 10/06/2025 David Harrison Solid Waste Worker I Solid Waste & Recycling 10/06/2025 Todd Lambert Stormwater Heavy Equipment Operator Public Works 10/06/2025 Drew Merta Survey Crew Leader Public Works 10/06/2025 Alejandro Reyes Suero Fleet Mechanic General Services 10/06/2025 Jeanne Smallcomb Utility Dispatcher I Gas System 10/06/2025 Gregory Casebier Parks Service Technician I Parks & Recreation 10/20/2025 John Pierce Parks Service Technician I Parks & Recreation 10/20/2025 Cover Memo City of Clearwater Main Library - Council Chambers 100 N. Osceola Avenue Clearwater, FL 33755 File Number: ID#25-1119 Agenda Date: 12/1/2025 Status: Agenda ReadyVersion: 2 File Type: Action ItemIn Control: Pension Trustees Agenda Number: 4.2 SUBJECT/RECOMMENDATION: Approve the following request of employee Michael Beaver, Police Department and Andrew Sullivan, Fire Department, to vest their pension as provided by Section 2.419 of the Employees’ Pension Plan. SUMMARY: Micheal Beaver, Police Sergeant, Police Department, was employed by the City on February 27, 2012, and his pension service credit is effective on that date. Mr. Beaver terminated from city employment on October 3, 2025. Andrew Sullivan, Fire Inspector II, Fire Department, was employed by the City on April 6 2015, and his pension service credit is effective on that date. Mr. Sullivan terminated from city employment on September 5, 2025. 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 five 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 five 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 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. Beaver will meet the hazardous duty criteria and begin collecting a pension in March of 2032. Mr. Sullivan will meet the hazardous duty criteria and begin collecting a pension in May of 2035 APPROPRIATION CODE AND AMOUNT: Page 1 City of Clearwater Printed on 11/24/2025 File Number: ID#25-1119 N/A USE OF RESERVE FUNDS: N/A Page 2 City of Clearwater Printed on 11/24/2025 Cover Memo City of Clearwater Main Library - Council Chambers 100 N. Osceola Avenue Clearwater, FL 33755 File Number: ID#25-1120 Agenda Date: 12/1/2025 Status: Agenda ReadyVersion: 2 File Type: Action ItemIn Control: Pension Trustees Agenda Number: 4.3 SUBJECT/RECOMMENDATION: Approve the following request of David Clark, Planning & Development Department, John Klinefelter, Fire Department, Gary Martinez, Police Department, Norton McGiffin, Public Works Department, Gabriel Parra, Economic Development & Housing Department, Marvin Pettingill, Fire Department, Terry Swatzell, Parks & Recreation Department, Anita “Lynn” Vincent, Finance Department, and Cheryl Wood, Police Department for a regular pension as provided by Sections 2.416 and 2.424 of the Employees’ Pension Plan. SUMMARY: David Clark, Plans Examiner IV, Planning & Development Department, was employed by the City on July 1, 2002, and his pension service credit is effective on that date. His pension will be effective January 1, 2026. Based on an average salary of approximately $84,066.37 over the past five years, the formula for computing regular pensions and Mr. Clark’s selection of the Single Life Annuity, this pension benefit will be approximately $54,302.28 annually. John Klinefelter, Fire Division Chief, Fire Department, was employed by the City on June 3, 2002, and his pension service credit is effective on that date. His pension will be effective November 1, 2025. Based on an average salary of approximately $128,157.36 over the past five years, the formula for computing regular pensions and Mr. Klinefelter’s selection of the 66 2/3% Joint & Survivor Annuity with the 20% partial lump sum, this pension benefit will be approximately $66,252.48 annually. Gary Martinez, Police Sergeant, Police Department, was employed by the City on May 19, 2003, and his pension service credit is effective on that date. His pension will be effective November 1, 2025. Based on an average salary of approximately $126,560.55 over the past five years, the formula for computing regular pensions and Mr. Martinez’s selection of the 100% Joint & Survivor Annuity, this pension benefit will be approximately $76,060.08 annually. Norton McGiffin, Parking Supervisor, Public Works Department, was employed by the City on March 1, 2010, and his pension service credit is effective on February 14, 2011. His pension will be effective October 1, 2025. Based on an average salary of approximately $53,671.67 over the past five years, the formula for computing regular pensions and Mr. McGiffin’s selection of the Single Life Annuity, this pension benefit will be approximately $21,594.24 annually. Gabriel Parra, Community Development Coordinator I, Economic Development & Housing Department, was employed by the City on July 14, 2003, and his pension service credit is effective on that date. His pension will be effective October 1, 2025. Based on an average salary of approximately $74,361.42 over the past five years, the formula for computing regular Page 1 City of Clearwater Printed on 11/24/2025 File Number: ID#25-1120 pensions and Mr. Parra’s selection of the Single Life Annuity, this pension benefit will be approximately $45,426.12 annually. Marvin Pettingill, Fire Deputy Chief, Fire 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 October 1, 2025. Based on an average salary of approximately $140,548.34 over the past five years, the formula for computing regular pensions and Mr. Pettingill’s selection of the 50% Joint & Survivor Annuity with the 30% partial lump sum, this pension benefit will be approximately $81,993.36 annually. Terry Swatzell, Parks Service Technician II, Parks & Recreation Department, was employed by the City on November 17, 2003, and his pension service credit is effective on that date. His pension will be effective December 1, 2025. Based on an average salary of approximately $40,981.96 over the past five years, the formula for computing regular pensions and Mr . Swatzell’s selection of the 50% Joint & Survivor Annuity, this pension benefit will be approximately $22,992.72 annually. Anita “Lynn” Vincent, Payroll Technician II, Finance Department, was employed by the City on November 14, 2005, and her pension service credit is effective on that date. Her pension will be effective December 1, 2025. Based on an average salary of approximately $57,607.65 over the past five years, the formula for computing regular pensions and Ms. Vincent’s selection of the Single Life Annuity, this pension benefit will be approximately $31,688.64 annually. Cheryl Wood, Police Officer, Police Department, was employed by the City on April 28, 1997, and her pension service credit is effective on that date. Her pension will be effective October 1, 2025. Based on an average salary of approximately $104,335.13 over the past five years, the formula for computing regular pensions and Ms. Wood’s selection of the Single Life Annuity with the 20% partial lump sum, this pension benefit will be approximately $65,688.12 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 five 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 five years of credited service. Mr. Clark, Mr. McGiffin, Mr. Parra, Mr. Swatzell, and Ms. Vincent 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 5 years and completed ten years of credited service. Mr. Klinefelter, Mr. Martinez, Mr. Pettingill, and Ms. Wood 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 11/24/2025 File Number: ID#25-1120 Page 3 City of Clearwater Printed on 11/24/2025