03-12-1974 Regular MeetingPENSION BOARD MEETING
A meeting of the Miami Shores Village Pension Board was held on Tuesday morning,
March 12, 1974 at Uncle Johns Pancake House on Biscayne Boulvard.
The following were present:
Absent was:
Mayor James Condit
John McIntyre
Michael Franco
Jim Glaid
Harry Smenner
Ann Vigneron
Dean Miller
John Fletcher ( recuperating from his operation)
The meeting began at approximately 8:00 am. After a brief discussion regarding
the birth date of our Country Club Shack Waitress, Elizabeth Dabney, Mr. Franco
made a motion and it was seconded by Mr. Miller that the pension of $110.75 per
month for life be awarded to her as per the Wyatt Co. calculation. The motion
was passed.
Much discussion was held on the considered change in the maximum entry age into
the plan. Finally a motion was made by Ann Vigneron and seconded by Mike Franco,
to recommend to Council to change the maximum entry age of employees into the
pension plan from 45 years of age (as presently written) to 51 years of age. It
was further recommended that this revision should become effective and retractive
to March 1, 1974.
The meeting adjourned at 8:45 am and a general discussion of Village happenings
continued for about 20 minutes.
411111 Approved:
Respectfully submitted
3 3 1 3 8
ALL PENSION BOARD QRS
JOHN W. McINTYRE
VILLAGE MANAGER
There vi11 be a meeting of the Pension Board at Uncle Johns
Pancake House on Biscayne Boulevard at 7:45 AM on Tuesday
Morning, March 12, 1974
The Agenda will be as follows:
1) Application for retirement of Elizabeth Dabney, as per
copy of Actuary Statement enclosed.
2) Decision on increasing the maximum entry age from 45 to
either 50 or 55. Copies of informative material enclosed.
RETIREMENT PLAN FOR EMPLOYEES OF
VILLAGE OF MIAMI SHORES
Calculation of Late Retirement Income
1. Name
2. Date of Birth
3. Date of employment
4. Normal retirement date
5. Late Retirement date
6. Credited service at late retirement date
7. Age of participant as of late retirement date
8. Final monthly compensation
Basic Compensa- No. of
Year tion paid Months
1974 $ 1,189.50 3
1973 $ 3,854.67 12
1972 $ 3,377.00 12
1971 $ 3,305.20 12
1970 $ 3,280.00 12
1969 $ 2,884.00 9
$.17,890.37 60
9. Accrued monthly retirement income at late retirement date
(a) 2% (.0200) x $298.17 = $5.96
(b) Item 6. x Item 9(a) =
Elizabeth Dabney
January 16, 1911
August 27, 1955
February 1, 1973
April 1, 1974
18.583 years
63.250 years
$ 298.17
110.75
Based on information supplied by the Village and the provisions of the plan, the
monthly late retirement income payable to Elizabeth Dabney is $110.75. The first pay-
ment is due on April 1, 1974 with subsequent payments due on the first day of each suc-
ceeding month and the last payment being the payment due in the month in which death
occurs.
Prepared by: /f`4.46a,s
L. F. Wilson
Actuarial Assistant
Certified by: THE WYATT COMPANY
Actuaries for the Plan
Reviewed by: J '??7.616 . ti -/2't2
James L. Shaw, A.S.A.
- Associate Actuary
THE 66)9.1/ COMPANY a
Dater 1
Pension Board
Miami Shores Pension Plan
Miami. Shores, Florida
Gent1emenr
I hereby apply for a service retirement annuity in
accordance with the provisions of Miami Shores Pension ,Plan to
take effect as of
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 me, as my beneficiary. I wish to provide
for my beneficiary an annuity equal to fo of the amount of
my annuity. f
I was born on r'�U, /6", e O P ./*
My beneficiary ° 9 born on ./a
Fours very truly,
L C.
* To be verified by the Bgaard.
M�.
Firc.n
iitarmiiitary s
1. PLACE OF GIRTH
0
IVRNING: It is illegal to duplicate this copy by photostat or photograph.
Vi,Z.‹.;.)fA/
COMMONWEALTH OF PENNSYLVANIA
DEPARTMENT OF HEALTH
VITAL STATISTICS
Township
Borougp/
City
3. Name of Child
S. Name of Father
CERTIFICATION OF BIRTH
N° 561341
File No/' Oy —
Dale Filed 19. /./
Date of
2. Birth /
(Month, day, year)
4 Sex
6. Maiden Name of Mother
This is to certify, that this is a correct copy of a birth
certificate as filed in the Vital Statistics office, Pennsylvania
Department of Health, Harrisburg.
Secretor/ of Health
JAN 111973
Date hawed
SURVEY OF PENSION PLANS
ON THE MAXIMUM ENTRY AGE FOR ADMISSION TO THE PLAN
MIAMI SHORES 45
BAL HARBOUR 61
CORAL GABLES 64
DADE COUNTY 55
MIAMI SPRINGS 55
NORTH MIAMI 64
NORTH MIAMI BEACH 60
SOUTH MIAMI 55
SURFSIDE 53
SOME MUNICIPALITIES HAVE WAITING PERIODS OF UP TO 4 YEARS
BEFORE AN EMPLOYEE CAN ENTER THE PLAN AT THE ABOVE AGES .
E1[PL0YEES BETWEEN 45 and 50 YEARS OF AGE
NOT IN PENSION PLAN and FIGURED IN STUDY AS PER WYATT'S LETTER OF 11/2/73
NAME BIRTH DATE STARTING DATE DEPT # SEX YEARLY SALARY
Narciso Maia 3/28/28 2/23/73 102 M $ 6,240
Ozzie McBride 10/11/27 5/31/72 14 M $ 7,488
James Glaid 6/14/27 3/29/73 5 M $13,222
James Phillips 4/24/27 10/30/71 103 M $ 8,476
Marilyn Fujarek 5/16/25 9/4/73 5 F $ 5,876
Helen Brown 3/6/24 3/14/73 6 'F $ 7,124
NAME
EMPLOYEES BETWEEN 50 and 55 YEARS OF AGE and NOT IN PENSION PLAN
BIRTH DATE
STARTING DATE
Paul Tons 11/25/23 2/6/70
Norman Hanks 5/11/22 12/5/72
Elizabeth Buckley 12/1/21 10/26/71
Pedro Roteta 10/23/21 12/17/73
Richard Brawn 6/2/21 4/17/72
Eddie Lee 5/7/20 8/22/66
John Ely 4/2/20 4/19/73
Sal Sciatna 11/18/19 11/28/73
DEPT # SEX
YEARLY SALARY
14 M $ 6,852
104 M $ 8,000
107 F $ 7,488
16 M $ 6,500
200 M $ 7,852
14 $ 8,684
loi M 315,000
104 M $ 8,000
f
Deceaber 31, 1973
NOTICE
3 3 1 3 8
ALL PENSION BOARD MEMBERS
1111116.1.3111.M1.1.1010 1•1•1•011.11•11•111010.0 IIIMIlmlombommomms
JOHN W McINTYRE
VILLAGE MANAGER
THERE WILL BE A MEETING OF THE PENSION BOARD AT THE VILLAGE
HALL ON WEDNESDAY, JANUARY 16, 1973 AT 4:00 PM IN THE AFTERNOON.
A MEMBER OF THE AC'RUARY ( THE 9aYATT COMPANY ) MULL BE PRESENT
TO DISCUSS OUR PLAN AND ANSWER QUESTIONS.
J. A. GLAID
PENSION BOARD SECRETARY