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04/20/2026 Pension Trustees Meeting Minutes April 20, 2026 City of Clearwater Main Library- Council Chambers 100 N. Osceola Avenue Clearwater, FL 33755 Meeting Minutes Monday, April 20, 2026 1 :00 PM Main Library - Council Chambers Pension Trustees Page 1 City of Clearwater Pension Trustees Meeting Minutes April 20, 2026 Roll Call Present 5 - Chair Bruce Rector, Trustee Ryan Cotton, Trustee David Allbritton, Trustee Lina Teixeira, and Trustee Michael Mannino Also Present: Jennifer Poirrier— City Manager, Al Battle —Assistant City Manager, Owen Kohler— Interim 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. 1. Call to Order— Chair Rector The meeting was called to order at 4:47 p.m. 2. Approval of Minutes 2.1 Approve the minutes of the February 2, 2026 Pension Trustees meeting as submitted in written summation by the City Clerk. Trustee Teixeira moved to approve the minutes of the February 2, 2026 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 new hires for acceptance into the Pension Plan as listed. Pension Name/Job Classification/Department Eligibility Date Taylor Johnson, Recreation Supervisor, Parks & Recreation 12/29/2025 Joi Lee, Solid Waste Equipment Operator, Solid Waste& Recycling 12/29/2025 Page 2 City of Clearwater Pension Trustees Meeting Minutes April 20, 2026 Andrew Nash, Solid Waste Equipment Operator, Solid Waste & Recycling 12/29/2025 Terry Daniels, Recreation Coordinator I, Parks & Recreation 01/10/2026 Nicholas Castellana, Police Cadet, Police Department 01/12/2026 Ozzie Galvan, Police Cadet, Police epartment 01/12/2026 James Griffin, Police Cadet, Police Department 01/12/2026 Wyatt Hartke-Gale, Police Cadet, Police Department 01/12/2026 Roneisha Magloire, Police Cadet, Police Department 01/12/2026 Michael Pisciotta, Wastewater Coll Tech I, Public Utilities 01/12/2026 Deondre Randall, Recreation Leader I, Parks & Recreation 01/12/2026 Domingo Sarante, Solid Waste Equipment Oper., Solid Waste & Recycling 01/12/2026 Kreesade Taylor, Payroll Tech II, Financial & Budget 01/12/2026 Austin Wagner, Police Officer, Police Department 01/12/2026 Austin Whitehall, Recreation Leader I, Parks & Recreation 01/12/2026 Scott Bavery, Fire Deputy Chief, Fire Department 01/26/2026 Sowmiya Dinakaran, Business Systems Analyst III, Information Tech. 01/26/2026 Mackenzie Espinoza, Police Telecommunicator I, Police Department 01/26/2026 Henry Folce, Customer Service Rep I, Utility Customer Service 01/26/2026 Steven Jaeck, Marine Facility Operator, Parks & Recreation 01/26/2026 William Fisher, Assistant Fire Marshal, Fire Department 02/09/2026 Eddie Medina, Solid Waste Equipment Operator, Solid Waste & Recycling 02/09/2026 Angela Reardon, Staff Assistant I, Parks & Recreation 02/09/2026 Lindsey Van Deusen, Police Office Specialist, Police Department 02/09/2026 Crystal Carlevaro, Police Telecommunicator I, Police Department 02/23/2026 Joshua Dallmann, Marine Facility Operator, Parks & Recreation 02/23/2026 LaMarr Dixon, Fleet Parts Specialist, General Services 02/23/2026 Trey Dixon, Solid Waste Worker I, Solid Waste & Recycling 02/23/2026 Rashaad Fennell, Water Plant Operator A, Public Utilities 02/23/2026 Jasia Martinez, Solid Waste Worker I, Solid Waste & Recycling 02/23/2026 Jairjodai Olguin Gonzalez, Water Distribution Oper.Trainee, Public Utilities 02/23/2026 Richard Oliver, Police Telecommunicator I, Police Department 02/23/2026 Ali Shallal, Engineer II, Public Works 02/23/2026 Robert Thurman, Parks Service Tech I, Parks & Recreation 02/23/2026 Lauren Wolf, Planner II, Planning & Development 02/23/2026 Samual Aldrich, Marine Facility Operator, Marine &Aviation 03/09/2026 Fatmire Fejoski, Payroll Tech I, Fire Department 03/09/2026 Edward Galan, Police Officer, Police Department 03/09/2026 James Seabo, Police Officer, Police Department 03/09/2026 James Smaldone, Police Officer, Police Department 03/09/2026 Trustee Allbritton moved to approve the new hires for acceptance into the Pension Plan as listed. The motion was duly seconded and carried unanimously. Page 3 City of Clearwater Pension Trustees Meeting Minutes April 20, 2026 4.2 Approve the following requests of employees Cheri Drigan, Gas Department, and Michael Mouroukis, Information Technology Department to vest their pension as provided by Section 2.419 of the Employees' Pension Plan. Cheri Drigan, Customer Service Rep, Gas Department, was employed by the City on October 11, 2010, and her pension service credit is effective on that date. Ms. Drigan terminated from City employment on March 9, 2026. Michael Mouroukis, Network Engineer III, Information Technology Department, was employed by the City on September 17, 2007, and his pension service credit is effective on that date. Mr. Mouroukis terminated from City employment on November 6, 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. Ms. Drigan will meet the non-hazardous duty criteria and begin collecting a pension in October of 2026. Mr. Mouroukis will meet the non-hazardous duty criteria and begin collecting a pension in October of 2029. 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. Page 4 City of Clearwater Pension Trustees Meeting Minutes April 20, 2026 Trustee Mannino moved to approve the following requests of employees Cheri Drigan, Gas Department, and Michael Mouroukis, Information Technology 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 following requests of Edward Bryant, Solid Waste and Recycling Department, Timothy Chaplinsky, Parks and Recreation Department, Kris Familiari, Fire Department, Kimberly Handville, Gas Department, Milisa Harris, Finance Department, Philip Kirkpatrick, Economic Development and Housing Department, Eric Kleinman, Parks & Recreation Department, Nichole Loux, Police Department, Melody Phelps, Police Department, George Phillips, Police Department, Terri Rowland, Solid Waste and Recycling Department, Emery Rumsey, General Services Department, John Stone, General Services Department, David Storck, General Services Department, Joseph Taylor, Parks and Recreation Department, Carolyn Sue Tellier, Public Works Department, and Bernadette Weiers, Library Department for a regular pension as provided by Sections 2.416 and 2.424 of the Employees' Pension Plan. Edward Bryant, Solid Waste Equipment Operator, Solid Waste & Recycling Department, was employed by the City on December 20, 2010, and his pension service credit is effective on March 18, 2011. His pension will be effective February 1, 2026. Based on an average salary of approximately $55,788.36 over the past five years, the formula for computing regular pensions, and Mr. Bryant's selection of the Single Life Annuity, this pension benefit will be approximately $22,812.36 annually. Timothy Chaplinsky, Parks Service Technician III, Parks & Recreation Department, was employed by the City on February 20, 1996, and his pension service credit is effective on that date. His pension will be effective March 1, 2026. Based on an average salary of approximately $58,427.04 over the past five years, the formula for computing regular pensions, and Mr. Chaplinsky's selection of the 75% Joint & Survivor Annuity, this pension benefit will be approximately $45,297.00 annually. Kris Familiari, Fire Lieutenant, Fire Department, was employed by the City on December 3, 2001, and his pension service credit is effective on that date. His pension will be effective March 1, 2026. Based on an average salary of approximately $134,106.73 over the past five years, the formula for computing regular pensions, and Mr. Familiari's selection of the 100% Joint & Survivor Annuity with the 30% partial lump sum, this pension benefit will be approximately $61,102.20 annually. Kimberly Handville, Payroll Technician I, Gas Department, was employed by the City on December 2, 2013, and her pension service credit is effective on that date. Her pension will be effective June 1, 2026. Based on an average salary of approximately $45,398.69 over the past five years, the formula for computing Page 5 City of Clearwater Pension Trustees Meeting Minutes April 20, 2026 regular pensions, and Ms. Handville's selection of the Single Life Annuity, this pension benefit will be approximately $12,132.12 annually. Milisa Harris, Procurement Analyst I, Finance Department, was employed by the City on August 9, 2004, and her pension service credit is effective on that date. Her pension will be effective February 1, 2026. Based on an average salary of approximately $56,419.51 over the past five years, the formula for computing regular pensions, and Ms. Harris's selection of the 100% Joint & Survivor Annuity, this pension benefit will be approximately $29,766.84 annually. Philip Kirkpatrick, Economic Development Coordinator II, Economic Development & Housing Department, was employed by the City on February 18, 2020, and his pension service credit is effective on that date. His pension will be effective May 1, 2026. Based on an average salary of approximately $85,691.32 over the past five years, the formula for computing regular pensions, and Mr. Kirkpatrick's selection of the 66 2/3% Joint & Survivor Annuity with the 30% partial lump sum, this pension benefit will be approximately $7,711.08 annually. Eric Kleinman, Athletic Field Manager, Parks & Recreation Department, was employed by the City on September 13, 1999, and his pension service credit is effective on that date. His pension will be effective February 1, 2026. Based on an average salary of approximately $85,544.32 over the past five years, the formula for computing regular pensions, and Mr. Kleinman's selection of the Single Life Annuity, this pension benefit will be approximately $62,065.92 annually. Nichole Loux, Police Telecommunicator Supervisor, Police Department, was employed by the City on February 21, 1995, and her pension service credit is effective on that date. Her pension will be effective March 1, 2026. Based on an average salary of approximately $84,400.57 over the past five years, the formula for computing regular pensions, and Ms. Loux's selection of the 75% Joint & Survivor Annuity, this pension benefit will be approximately $64,924.92 annually. Melody Phelps, Police Officer, Police Department, was employed by the City on January 9, 2006, and her pension service credit is effective on that date. Her pension will be effective February 1, 2026. Based on an average salary of approximately $100,357.48 over the past five years, the formula for computing regular pensions, and Ms. Phelps's selection of the 100% Joint & Survivor Annuity with the 20% partial lump sum, this pension benefit will be approximately $43,735.20 annually. George Phillips, Police Officer, Police Department, was employed by the City on October 4, 2004, and his pension service credit is effective on that date. His pension will be effective March 1, 2026. Based on an average salary of approximately $104,362.67 over the past five years, the formula for computing regular pensions, and Mr. Phillips's selection of the 100% Joint & Survivor Annuity, this pension benefit will be approximately $60,442.08 annually. Terri Rowland, Staff Assistant I, Solid Waste & Recycling Department, was employed by the City on October 31, 2005, and her pension service credit is Page 6 City of Clearwater Pension Trustees Meeting Minutes April 20, 2026 effective on that date. Her pension will be effective April 1, 2026. Based on an average salary of approximately $49,949.58 over the past five years, the formula for computing regular pensions, and Ms. Rowland's selection of the Single Life Annuity, this pension benefit will be approximately $28,044.60 annually. Emery Rumsey, Fleet Mechanic, General Services Department, was employed by the City on November 5, 2012, and his pension service credit is effective on that date. His pension will be effective May 1, 2026. Based on an average salary of approximately $65,002.10 over the past five years, the formula for computing regular pensions, and Mr. Rumsey's selection of the 100% Joint & Survivor Annuity, this pension benefit will be approximately $18,719.40 annually. John Stone, Fleet Buying Coordinator, General Services Department, was employed by the City on September 8, 2003, and his pension service credit is effective on that date. His pension will be effective February 1, 2026. Based on an average salary of approximately $70,157.36 over the past five years, the formula for computing regular pensions, and Mr. Stone's selection of the Single Life Annuity, this pension benefit will be approximately $43,211.52 annually. David Storck, Air Conditioning Technician, General Services Department, was employed by the City on February 6, 2006, and his pension service credit is effective on that date. His pension will be effective March 1, 2026. Based on an average salary of approximately $62,192.46 over the past five years, the formula for computing regular pensions, and Mr. Storck's selection of the 50% Joint & Survivor Annuity, this pension benefit will be approximately $32,781.36 annually. Joseph Taylor, Parks Service Supervisor II, Parks & Recreation Department, was employed by the City on March 11, 2002, and his pension service credit is effective on that date. His pension will be effective March 1, 2026. Based on an average salary of approximately $68,715.17 over the past five years, the formula for computing regular pensions, and Mr. Taylor's selection of the 66 2/3% Joint & Survivor Annuity, this pension benefit will be approximately $41,607.24 annually. Carolyn Sue Tellier, Parking System Assistant Manager, Public Works Department, was employed by the City on April 3, 2006, and her pension service credit is effective on that date. Her pension will be effective March 1, 2026. Based on an average salary of approximately $75,144.64 over the past five years, the formula for computing regular pensions, and Ms. Tellier's selection of the Single Life Annuity, this pension benefit will be approximately $41,128.68 annually. Bernadette Weiers, Library Assistant I, Library Department, was employed by the City on September 14, 1998, and her pension service credit is effective on November 8, 1998. Her pension will be effective April 1, 2026. Based on an average salary of approximately $43,923.60 over the past five years, the formula for computing regular pensions, and Ms. Weiers' selection of the Single Life Annuity, this pension benefit will be approximately $33,012.48 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 Page 7 City of Clearwater Pension Trustees Meeting Minutes April 20, 2026 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. Bryant, Mr. Chaplinsky, Ms. Handville, Ms. Harris, Mr. Kirkpatrick, Mr. Kleinman, Ms. Loux, Ms. Rowland, Mr. Rumsey, Mr. Stone, Mr. Storck, Mr. Taylor, Ms. Tellier, and Ms. Weiers 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. Familiari, Ms. Phelps, and Mr. Phillips have met the hazardous duty criteria. Trustee Cotton moved to approve following requests of Edward Bryant, Solid Waste and Recycling Department, Timothy Chaplinsky, Parks and Recreation Department, Kris Familiari, Fire Department, Kimberly Handville, Gas Department, Milisa Harris, Finance Department, Philip Kirkpatrick, Economic Development and Housing Department, Eric Kleinman, Parks & Recreation Department, Nichole Loux, Police Department, Melody Phelps, Police Department, George Phillips, Police Department, Terri Rowland, Solid Waste and Recycling Department, Emery Rumsey, General Services Department, John Stone, General Services Department, David Storck, General Services Department, Joseph Taylor, Parks and Recreation Department, Carolyn Sue Tellier, Public Works Department, and Bernadette Weiers, Library 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 Annual review of the Employees' Pension Plan investment performance for the calendar and plan year ended December 31, 2025. Annually a presentation of the Plan's calendar year investment performance is Page 8 City of Clearwater Pension Trustees Meeting Minutes April 20, 2026 made to the Trustees. For calendar 2025, the Plan realized an investment return of 11.45%, versus the plan's benchmark of 13.36% and actuarial assumption of 6.5% It was a very good year of investment performance on an absolute basis, but the plan underperformed relative to the index. For the last three calendar years, the plan had an average annualized return of 11.75%, versus a benchmark of 11.20%; and for the last five calendar years, the plan had an annualized return of 6.19% versus a benchmark of 6.96%. During calendar 2025, the Pension Trustees approved the termination and replacement of three of the plan's investment money managers due to underperformance versus their benchmarks and peers. 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. Finance Director Jay Ravins provided an overview. 4.5 Determine Trustees' expected rate of return for pension plan investments for current year, each of the next several years, and for the long term thereafter, in accordance with Florida Statutes 112.661(9). Florida Statutes 112.661(9) requires an annual determination of expected rates of return by filed with the Florida Department of Management Services, with the plan's sponsor, and with the consulting actuary. Staff is recommending the current plan investment rate of return assumptions of 6.5%, net of investment-related fees, as the expected annual rate of return for the current year; 6.5% for the next year; and 6.5% for all years thereafter. Trustee Teixeira moved to determine Trustees' expected rate of return for pension plan investments for current year, each of the next several years, and for the long term thereafter, in accordance with Florida Statutes 112.661(9). The motion was duly seconded and carried unanimously. Page 9 City of Clearwater Pension Trustees Meeting Minutes 5. Adjourn The meeting adjourned at 4:52 p.m. Attest City of Clearwater Chair Employees' Pension Plan Trustees April 20, 2026 Page 10