12-21-1971 Regular MeetingMIAMI SHORES VILLAGE PENSION BOARD
MEETING
A meeting of the Miami Shores -Village Pension Board was held on
Tureday' December 21, 1971 at 8:00 a. m. in Uncle John's Pancake House,
Biscayne Blvd., Miami, Florida
The following were present:
Mayor
xxx Elwood Jones
John Mr. McIntyre
Michael Franco
Marjorie Dunn
Dean Miller
Jeff Fowler
Gerald McFarl in
Absent:
Glen E. Byrd
Minutes of the mast meeting were read and approved.
The application for -late -retirement and certification by the actuary on
Lacy Beaks was read. Michael Franco moved that the application be
approved. The motion was seconded by Jeff Bowler, and passed unanimously.
The meeting adjourned at 8135 a. m.
APPROVED:
Chairman
Respectfully submitted
&acre
MIAMI SHORES
PENSION PLAN
Calculation of Late Retirement Income
1. Name Lacy Beaks
2. Date of birth October 17, 1909
3. Date of employment March 28, 1952
•i 4. Normal retirement date November 1, 1971
5. Late retirement date January 1, 1972
6. Credited service at LRD 19.750 years
7. Final monthly compensation $460.10
Basic Compensa- No. of
Year tion paid Months
1971 $ 6,445.00 12
1970 $ 6,168.00 12
1969 $ 5,886.00 12
1968 $ 4,882.00 12
1967 $ 4,225.00 12
$27,606.00 6o
8. Monthly retirement income payable for life, first
payment payable on January 1, 1972 $181.74
(.02) (19.750) ($460.10)
Based on information supplied by the Village and the provisions of the plan,
the monthly late retirement income payable to Lacy Beaks is $181.74. The first payment
is due on January 1, 1972 with subsequent payments due on the first day of each succeed-
ing month and the last payment being the payment due in the month in which death occurs.
Prepared by:
•
Certified by: THE WYATT COMPANY
Actuaries for Plan
Reviewed by:
0
Larry H. Weitzner Owen C. Schlaug, Jr., A.S.A.
Consultant
Associate Actuary
THE " // gal/ COMPANY
•
Date: /�9 - 6 7�
Pension Board
Miami Shores Pension Plan
Miami Shores9 Florida
Gentlement
I hereby apply for a service retirement annuity in
accordance with the provisions of Miami. Shores Pension. Plan to
take effect as of p . /_ 72 , as of which
date I discontinued service with Miami Shores Village.
I desire to avail myself of the Reversionary Annuity
Option under the Plan and hereby designate my
who is dependent upon met as my beneficiary. I wish to provide
for my beneficiary an annuity equal to % of the amount of
my annuity.
I was born on ("'i�� 157,67 •/'*
My beneficiary was born on ./4
Yours very truly,
* To be verified by the Board.