07-26-1973 Regular Meeting•
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MIAMI SHORES VILLAGE PENSION BOARD
A meeting of the Pension Board was held Thursday July 26, 1973
at Uncle Johnins Pancake House 9099 Biscayne Blvd. at 8 A.M.
The following were present:
Michael Franco
Dean Miller
Mayor James Condit
John McIntyre, Village Manager
Finance Director James Glaid also attended
Absent:
Chief Thurman
Minutes of the last meeting were read and approved.
A motion was made by Mr. Franco to resend the motion of the
last meeting on the retirement of the Village Manager John McIntyre
as the retirement had not taken place. This was seconded by Mr.
Miller and passed.
A motion was then made by Mr. Franco and seconed by Mr. McIntyre
to approve the retirement of Clyde R. Blue at the Wyatt Company's
certified rate of $298.25 per month for life. This motion was passed.
A discusion was held after
tying future retirement benefits
was made by Mr. Miller, seconded
Wyatt Co. what the cost would be
costs to the Pension plan.
Adjournment 8:50 A.M.
Approved:
the Mayor brought up the subject of
to the cost of living index. A motion
by Mr. Franco and passed to ask the
to make such a study on the future
Respectfully submitted
214 o
ing Secretary
RETIREMENT PLAN FOR EMPLOYEES OF
MIAMI SHORES PENSION PLAN
Calculation of Normal Retirement Income
1. Name
2. Date of birth
3. Date of employment
4. Normal retirement date
5. Credited service at NRD
6. Age of participant as of normal retirement date
7. Final monthly compensation
Basic Compensa- No. of
Year tion paid Months
1973 $ 6,528.00 * 7
1972 $ 10,021.40 12
1971 $ 8,891.00 12
1970 $ 8,694.11 12
1969 $ 8,429.46 12
1968 $ 3,129.75 5
$ 45,693.72 bo
8. Accrued monthly retirement income
(a) 2°% (.020) x $761.56 = $15.23
(b) Item 5 x Item 8(A) = $298.25.
Clyde R. Blue
July 29, 1911
December 18, 1953
August 1, 1973
19.583
62.000 years
$ 761.56
* Estimated Compensation for
period 1-1-73 to 8-1-73.
Based on information supplied by the Village and the provisions of the
plan, the monthly normal retirement income payable to Clyde R. Blue is $298.25.
The first payment is due on August 1, 1973 with subsequent payments due on the
first day of each succeeding month and the last payment being the payment due
in the month in which death occurs.
Certified by: THE. WYATT COMPANY
Actuaries for Plan
Prepared by:0z� �--
Reviewed by:
Robert B.E. Glasgow Larry H. 7tzner, A.S
Actuarial Assistant Associate Actuary
THE Waft' COMPANY
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Dates
Pension Board
Miami Shores Pension Plan
Miami Shores, Florida
Gentlemen;
I hereby apply for a service retirement annuity in
accords.nce with the provisions of Miami Shores Pension ,Plan to
take effect as of (Z ' - C , as of which
date I discontinued se vice with Miami Shores Village.
I desire to avail myself of the Reversionary Annuity
Option under t• ' Plan and hereby designate my
who is dep=dent upon me, as \beneficiary. wi 'h to provide
for / enef iciary an annuity equal to f of the amount of
'my annuity.
I was born on
09-ly//
• /*
v
t bn i ci Ary— w t ..be .al- on f*
/tJ- jf—Gv— oG -CP`
* To be verified by the Board.
April 20, 1973
Mr. Dennis I. C3. Vice Pres.
The First State Bank of Miami - Trust Dept.
8017 N • E. 2nd Ave.
Miami, Fla.
Dear Mr.. Clum:
Inclosed is the Wyatt Co. -certification on the retire•
ment of Phyrne K. .Jopp starting May 1, 1973. This was
authorized at The Pension F3oard meeting of March 27, 1973.
Her current address is listed belovs
Phyrne K. Jopp
11217 N. E. -8th Ct.
Miami, Fla., 33161
Thanking you for your cooperation.
Very truly . yours,
Village Manager
For Pension Board