02-15-2001 Board Meeting• •
M11~UT~S
City of Clermont, Florida
Firefighters Pension Board of Trustees Meeting
February 15, 2001
Meeting started at 9:10 A.M. at the Police Department Community Services Room.
Firefighters trustees present were Paul Anderson (Chairman), Harold Cummings and Richard Bell.
City Finance Director Joe Van Zile was also present.
Minutes of the January 25, 2001 Firefighters Pension Board of Trustees Meeting were approved.
Motion by Harold Cummings and seconded by Paul Anderson.
Trustees discussed the selection of a Board Secretary. Mr. Bell volunteered to serve as secretary
and was approved.
Trustees discussed the following voluntary pension changes:
> Increasing the benefit accrual rate from the current 2% to 3%
> Lowering the vesting requirement from the current 10 years to either 8 or 6 years
> Lowering the normal retirement age from the current 55 to 50 and the early retirement
age from 50 to 45
> Providing a cost of living adjustment to retirees
> Providing a deferred retirement option plan (DROP)
> Allowing full-time firefighters who have previous experience as a Clermont volunteer firefighter
to have their full-time benefit accrual rate applied toward all years of service (including
volunteer firefighter years) instead of just the full-time years of service
Since all trustees were not present for this meeting, it was felt that it would be better to have the other
trustees input regarding these possible changes before submitting any requests to the plan actuarial
consultant for cost studies.
Next meeting was scheduled for March 1, 2001 at 9:00 A.M.
Meeting adjourned at 10:25 A.M.
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Paul Anderson
Chairman
Richard Bell
Secretary