12-16-2004 Joint Meeting•
Minutes
City of Clermont, Florida
Police Officers/Firefighters Pension Board of Trustees Joint Meeting
December 16, 2004
Meeting started at 9:00 A.M. in the Clermont City Hall Conference Room No. 202.
Police Officers trustees present were Keith Mullins, Mike Blackmon, David Lofgren, Mike Scheller
and Oakley Seaver. Firefighters trustees present were Paul Anderson, Keith Mullins, Tom Jones,
Steve D'Amico and Harold Cummings. Administrative Services Director Joe Van Zile was also present.
Minutes of the September 20, 2004 Firefighters Pension Board Meeting were approved.
Motion by Keith Mullins and seconded by Steve D'Amico. Approved.
Minutes of the September 20, 2004 Police Officers Pension Board Meeting were approved.
Motion by Oakley Seaver and seconded by Mike Blackmon. Approved.
Trustees discussed the idea of using pension funds to assist retirees with health insurance costs.
Administrative Services Director Van Zile updated the trustees on the status of the City's Group Medical
Insurance Committee.
Trustees discussed the possibility of allowing members to purchase prior years service at the current
higher benefit accrual rate of 3.00%. Administrative Services Director Van Zile informed the trustees
of the cost estimates associated with this change. According to the plan actuary, the cost estimate
for this benefit to be funded by the members would range between $50,000 to $60,000 for selected
police officers and between $7,000 to $16,000 for selected firefighters. The annual cost increase if the City
were to fund this benefit would be approximately $37,000 for the police plan and $7,800 for the firefighters
plan. The consensus of the trustees was that the employee contributed estimates were too high and not
practical for the members to pay. The consensus of the trustees was that the City contributed benefit
may not be the best use of plan funds since the majority of the cost increase would be attributed to a
small number of members.
Administrative Services Director Van Zile reminded trustees that all benefit changes similar to what are
being discussed would be subject to the collective bargaining process involving the police and firefighter
unions.
Trustees discussed the possibility of adopting an annual COLA for members and to raising the line of duty
disability benefit to 65% from 42%. Additional information regarding these changes would be presented
at the next meeting.
Trustee D'Amico raised the issue of how much flexibility the local board's have in directing the investments
of the plan. Information regarding this will be presented at the next board meeting.
Meeting adjourned at 9:55 A.M.
airman, Pau Anderson
ecretary, Tom nes