CITY OF KNOXVILLE PENSION BOARD
AGENDA
Thursday – July 8, 2010
8:15 A.M.
917B E. 5TH AVENUE
CALL TO ORDER:
APPROVAL OF REGULAR MEETING MINUTES FOR June 10, 2010:
APPROVAL OF REVISED AGENDA:
CONTRACTS:
ADMINISTRATIVE MATTERS:
EXECUTIVE DIRECTOR COMMENTS:
ATTORNEY COMMENTS:
ENROLLMENTS:
The following General Government employees have filed applications to become members of the Plan G1 pension system.
Ricky Davis
Scot Stier
WITHDRAWALS:
The following employees have filed an application to withdraw employee pension contributions plus 4% interest and the supplemental retirement account as applicable in Plan G Option 1.
Mary K. Davis, General Govt. – Plan G1, Non-vested
Michael Tinsley, General Govt. – Plan G1, Non-vested
DISABILITY
APPLICATION FOR INJURY IN LINE OF DUTY: PLAN G2 – See Folder
CHARTER SECTION 1360.22
Goble J. Bell, General Government Option A-4
50% with reinstatement
Date of birth, January 23, 1952: 58 years of age*
Total credited service: 36 years 2 months 5 days**
*Computed as if 62 years of age
**Computed as if worked until age 62 (39 years 8 months 5 days)
$2,482.79 pension effective August 1, 2010.
APPLICATION FOR NORMAL RETIREMENT: PLAN A
CHARTER SECTION 1360.12
Mamie Knott, Schools Non-Certified No Option
Date of birth, July 1, 1941: 69 years of age
Total credited service: 37 years 9 months (combined City & County)
$1,870.14 Total benefit
1,233.87 minus County benefit
$ 636.27 pension effective July 1, 2010.
Frank Scimonelli, Jr., Schools Certified Option A-6
100% without reinstatement
Date of birth, September 10, 1946: 63 years of age
Total City credited service: 15 years
Total County credited service: 23 years
Total credited service: 38 years
$359.07 pension effective July 1, 2010
The City benefit payment is determined using City only salaries and City service time.
The City benefit does not include any County service.
The total amount of the combined City & County benefit is $3,048.79.
APPLICATION FOR EARLY RETIREMENT: PLAN A
CHARTER SECTION 1360.17
Brenda Harbin-Hankins, Schools Certified Option A-5
75% without reinstatement
Date of birth, September 18, 1949: 60 years of age
Total City credited service: 16 years
Total County credited service: 23 years
Total credited service: 39 years
$306.40 pension effective July 1, 2010
The City benefit payment is determined using City only salaries and City service time.
The City benefit does not include any County service.
The total amount of the combined City & County benefit is $3,594.39.
25 years required for Early retirement. Supreme Court ruling entitles retiree to combine City & County credited service.
APPROVAL OF INVOICES FOR PROFESSIONAL SERVICES: - Invoice copies in folder
Bryan, Pendleton, Swats & McAllister – Actuary (May 2010) $ 3,807.00 State Street – Custodial (April – 2010) 8,395.78
State Street – Custodial (May – 2010) 8,419.25
Pinnacle Associates – Money Manager (1st Qtr – 2010) 54,532.00
Mr. Cherry, Executive Director, has reviewed the bills and certifies that they are consistent with the services provided and are within the budgeted figures of the system’s financial plan.
OTHER:
PUBLIC COMMENTS:
ADJOURNMENT:
ESTIMATE OF TIME FOR MEETING: 1 hr.