01-11-1977 Regular MeetingJanuary 11, 1977
Miami Jhoresciillage
F L o R 1 D A
PENSION BOARD MEETING
A breakfast meeting of the Miami Shores Pension Board was held on Tuesday,
January llth at the Howard Johnson's Restaurant on 95th Street.
The following Board Members were present:
Mayor Donald W. McIntosh
John Fletcher
Ann Vigneron
Also present were:
William Al Davis
Dean Miller
Robert Day
William Fenn Michael Franco
Jim Glaid
Absent was: Earl K. Andersen
The meeting began at 8:15 a.m. with the reading and acceptance of the min—
utes of the previous November 3, 1976 meeting.
A motion to pay the Wyatt Company's invoice was unanimously passed. However,
the Board asked the Secretary to request a breakdown of the yearly charge.
On a motion by Mayor McIntosh and a second by Ann Vigneron, the pension of
Harry Brown (Henry Boliek's long-time employee) was approved unanimously.
On reviewing the Auditors' (Coopers & Lybrand) summary sheet covering the
Pension Plan, a question arose as to the large difference in the "Pensions
Paid" disbursement line between the 1975 and 1976 report. The Secretary
agreed to investigate this difference and report back to the Board.
Bill Fenn asked the Board to permit him more time to negotiate further with
Mr. Vereen and the State of Florida on the Statute 175 funds they are
requesting.
The Hal Petrey situation was discussed at some length. All avenues were
explored on how to qualify Mr. Petrey for membership in the plan. All sugges—
tions had many stumbling blocks, and no motions were made and passed after
about 20 minutes of review.
January 11, 1977 —2—
Pension Board Meeting
A motion was made, seconded and passed to recommend that the Pension Ordinances
not be changed to permitthose between the ages of 18 and 21 to join the plan.
The meeting was adjourned at approximately 9:15 a.m.
APPROVED:
•
Respectfully submitted,
e/i./4eL:10
James A. Glaid
Secretary
CHICAGO
CLEVELAND
DALLAS
DETROIT
FORT WORTH
HONOLULU
HOUSTON
LOS ANGELES
January 13, 1977
THE COMPANY
ACTUARIES AND EMPLOYEE BENEFIT CONSULTANTS
9595 NORTH KENDALL DRIVE
MIAMI, FLORIDA 33156
(305) 274-8080
Mr. James Glaid
Financial Director
Miami Shores Village
10050 N.E. 2nd Avenue
Miami Shores, Florida 33138
Re: Miami Shores Village Retirement Plan
Dear Mr. Glaid:
MIAMI
NEW YORK
PHILADELPHIA
SAN FRANCISCO
WASHINGTON
OTTAWA
TORONTO
The following will provide you with an estimated breakdown, by
major task accomplished, of the charges reflected in our state-
ment of December 6, 1976:
1. Completion of January 1, 1976 actuarial
valuation, employee benefit statements $3,000
2. Study of valuation assumptions of
Retirement Plan $ 750
3. Completion of Annual Reports to
the State Treasurer for Policemen and Firemen $ 590
4. Calculation and correspondence involved in
determining assets available to distribute .
to Firemen $1,200
5. Miscellaneous assignments, correspondence and
• attendance at meetings $ 289
TOTAL $5,829
The amounts above are merely estimates since we keep track of our
time, in the aggregate, per client, rather than on an assignment
basis.
m 4
Page Two
We have recently received the "Annual Report to the State
Treasurer of Florida" forms for your policemen. We will be
able to complete such forms upon receipt of the Retirement
Plan Record Cards (including salaries paid to terminated
employees during the 1976 year) and the December 31, 1976
bank statements on the trust fund. These reports are to be
filed by March 15, 1977.
If you have any questions with regard to the above, please do
not hesitate to contact us.
Sincerely,
Wallace W. Wilson, F.S.A.
Actuary
WWW/j
•
Employees Pension Trust
Miami Shores Village
10050 N.E. 2nd Avenue
Miami Shores, Florida 33138
Attn.: Mr. Earl Anderson, Village Manager January 20, 1977
No. 20602
IN ACCOUNT WITH
COOPERS IS LYBRAND
CERTIFIED PUBLIC ACCOUNTANTS
2900 FIRST FEDERAL BUILDING
MIAMI, FLORIDA 33131
TELEPHONE 3581419a3t 6363
Professional services rendered re:
Examination of Trust Accounting Report for the year
ended September 30, 1976
Preparation of schedules of Analysis of Transactions
and Analysis of Trust Assets for inclusion in
Miami Shores Village Audit Report
tits. V. PENSlom
i i O sT FUND
$ 400.00
•
COOPERS & LYBRAND
CERTIFIED PUBLIC ACCOUNTANTS
2900 FIRST FEDERAL BUILDING
MIAMI, FLORIDA 33131
)305) 358-6363
February 8, 1977
Mr. Jim Glaid
Finance Director
Miami Shores Village
10050 N. E. Second Avenue
Miami Shores, Florida 33128
Dear Jim:
In response to your inquiry regarding the apparent fluctuation from
1975 to 1976 in payments to Pension Plan participants, a review of our
workpapers indicate that a misclassification between Pension Paid, and
Loss on Sale of Securities existed in the September 30, 1975 report. -
Pensions Paid (line 1), as reported in the "Analysis of Transactions
in Pension Trust Fund" for the fiscal year ended September 30, 1975,
were understated by approximately $15,000 and Loss on Sale or Maturity
of Securities (line 6) was overstated by a like amount.
Thus, the amount of Pensions Paid for that period (September 30,
1975) should have been approximately $76,000 as compared to approximately
$81,000 for the fiscal year ended September 30, 1976. The actual fluctu-
ation between the two periods is approximately $5,000 which results from:
1. A cost of living increase in payments given to participants
in the last month of the 1975 fiscal year.
2. Additions and deletions of two participants during the 1975
fiscal year.
I hope this information is of assistance to you and appreciate your
advising me of the apparent misclassification. Please call me or Jan
Anderson if you have any further questions regarding this, or any other
item.
JS/sk
MIAMI SHORES VILLAGE, FLORIDA
ANALYSIS OF TRANSACTIONS IN PENSION TRUST FUND
for the fiscal year ended September 30, 1975
,III
Total fund assets (at cost)
at October 1, 1974, as
previously reported
Adjustments:
Reallocation of beginning cash
balance
Total of fund assets (at cost)
at October 1, 1974, as restated
Receipts or increases in fund:
1. From Village
2. From State of Florida
3. From employees
4. Interest income
5. Dividends on Corporate stocks
6. Loss on sale or maturity
of securities
7. Other
Expenditures or decreases in fund:
1. Pensions paid
2. Withdrawals by employees
no longer employed
3. Trustee fee
4. Audit fee
5. Actuary fee
Total of fund assets (at cost)
September 30, 1975
•
Miami
Shores
Pension
Fund
Fire
Dept.
Pension
Fund
Police
Dept.
Pension
Fund
$1,168,480 $6,714 $ 5,264
(8,244)
1,160,236
66,000
15,585
60,068
55,582
21,592
8244
Total
$1,180,458
6,714 13,508 1,180,458
(16,170)
8,574 (6,714)
(61,455) -1- /1c0m
(17,595)
(1,635)
(400)
(4,176)
$1,286,206
See accompanying notes
38
0
(1,860)
7
(4,385)
66,000
15,585
60,068
55,582
21,592
(16,170)
11171
(61,455) 16,45-
(21,980)
4(5
(21,980)
(1,635)
(400)
(4,176)
S - $ 7,263 $1,293.469
0011r -
/JAI
rl/3d17
7/30(7c
0 O 2 S�
fart"
20.
1/30/7
el/ ff)
f4..0-.2/1/7)
3
3t7.4r
el
if, 3 4 o �
Page 2 Continued
Club House Activities:
Salaries
Exterminating 6 Cleaning
Boiler Service
Cleaning Supplies
Miscellaneous Expense
Bldg. Repairs 6 Maintenance
Music 6 Functions
Club House Supplies
Laundry -Locker Rooms
Electricity
Fuel Oil
City Wate
Gas for Air. onditioning
Telephone
Capital Impro -ment Reserve
Kitchen 6 Dinin:. Rm. Remodl.
Annual
Appropriations
Dining Room:
Salaries
Degreasing Ovens
Air Conditioning 6 -frig.
Car Expense
Dish Replacement
Repairs
Silver Replacement
Kitchen Utensils
Miscellaneous Supplies
Laundry
Paper Goods
Licenses
Gas for Cooking 6 Heating
57,334.00
4,820.00
1,200.00
3,000.00
2,000.00
10,220.00
14,500.00
5,000.00
4,700.00
30,000.00
2,500.0'0.;
800.00
1,100.00
500.00
5,000.00
20,760.00
Expended in Expended % Exp.
July to Date to Date
5,550.10
715.00
59.65
213.90
66.00
605.45
328.8
346.!4
2,50•.40
1 � .16
9.67
14.39
r r r
56,293.68 98%
2,590.00 54
1,166.15 97
2,024.45 67
1,282.65 64
1,193.94 12
12,856.90 89
2,459.17 49
2,745.83 58
23,166.78 77
1,703.06 68
1,104.09 138
1,028.53 93
*NI 41M
20,760.00 100
163,434.00
10,802.80 130,375.23 80%
176,073.00
200.0
7,200.;00
600.00
3,10 .00
1,8 0.00
1, 00.00
1,'600.00
300.00
7,300.00
5,800.00
150.00
500.00
Bar:
S a� res
Repairs
Glass Replacement
Bar Supplies
Uniforms 6 Towels
Licenses
Golf Activities:
Salaries
Computer Handic Service
Computer Handi=p Posting
Supplement fo,;Registrar.
Laundry
Miscellaneo Expense
Printing 6;.tationery
Tournamen Expense
Electric art Expense Supp.
Junior G.lf Activities
Drinking Fountains
Electric Cart Power
Telephone
Renovation of Locker Rooms
New Golf Carts
Electric Golf Cart Payment
22 923.00
17,746.50 152,410.13 87%
1,051.40 5,351.58 74
50.00 500.00 83
274.59 4,149.24 134
293.83 3,628.14 202
35.76 806.18 62
- -- 1,160.25 73
711.90 7,280.64 78
2,262.16 19,840.16 115
490.07 4,270.65 74
- -- 5.00 3
197.66 2 372.58 158
23,113.87 201 774.55 89%
65 21.00
1,0 ►.0.00
1,00 .00
3,000 00
800.''0
1,804.
73 225.0
46,672.00
1,000.00
1,500.00
8,000.00
300.00
1,500.00
2,000.00
5,500.00
12,000.00
500.00
300.00
8,000.00
400.00
r r -
18,000.00
14,153.00
119,825.00
4,960.60
45.70
5.55
25.89
ON IND =I
5,037.74
3,634.83
210.60
125.00
666.67
18.88.
8.00
22.50
20.18
2 .56
1,37 .67
15.60
4110.11.410
6,524.49
41,832.43
25.00
513.15
1,256.86
180.63
54.00
43 862.07
64%
3
51
42
23
3
60%
35,236.31 75%
882.60 88
1,250.00 83
6,666.66 83
654.94 218
727.42 48
1,353.77 68
3,323.18 60
10,518.46 88
192.60 64
4,206.08 53
660.64 165
r r r
18,450:00 103
14,152.51 100
98,275.17 82%.
OM =II IMP
10
144,42 frviAitta4-4
764 404
7 2-
cb 0 , 00
Page 2 Continued
Club House Activities:
Salaries
Exterminating 8 Cleaning
Boiler Service
Cleaning Supplies
Miscellaneous Expense
Bldg. Repairs 8 Maintenance
Music 8 Functions
Club House Supplies
Laundry -Locker Rooms
Electricity
Fuel Oil
City Water
Gas for Air Conditioning
Telephon
Capital I`•rovement Reserve
Kitchen 8 l'
Dining Room:
Salaries
Degreasing Ovens
Air Conditioning 8 efrig.
Car Expense
Dish Replacement
Repairs
Silver Replacement
Kitchen Utensils
Miscellaneous Supplies
Laundry
Paper Goods
Licenses
Gas for Cooking 8 Heating
Annual
Appropriations
57,334.00
4,820.00
1,200.00
3,000.00
2,000.00
10,220.00
14,500.00
5,000.00
4,700.00
30,000.00
2,500.00
800.00
1,100.00
500.00
5,000.00
ning Rm. Remodl. 20,760.00
163 434.00
Bar:
Salaries
Repairs
Glass Replacement
Bar Supplies
Uniforms 6 Towels
Licenses
Golf Activities:
Salaries
Computer Handicap Se vice
Computer Handicap P• ting
Supplement for Regi,'trar.
Laundry
Miscellaneous ExpePse
Printing 6 Statio.-ry
Tournament Expens
Electric Cart Expense Supp.
Junior Golf Activities
Drinking Fountains
Electric Cart Power
Telephone
Renovation of Locker Rooms
New Golf Carts
Electric Golf Cart Payment
Expended in
July
5,550.10
715.00
59.65
213.90
66.00
ell• MO IMO
605.45
328.84
346.2
2,509,40
154.16
139.67
114.39
gm me
Expended % Exp.
to Date to Date
176,073.00
200.0
7,200."0
600 00
3,10 t.00
1,8."0.00
1, °'00.00
1 ,.00.00
9i, 300.00
1',300.00
5,800.00
150.00
,500.00
/ 10,802.80
17,746.50
ilM• 1=11 OM
1,051.40
50.00
274.59
293.83
35.76
711.90
2,262.16
490.07
197.66
56,293.68 98%
2,590.00 54
1,166.15 97
2,024.45 67
1,282.65 64
1,193.94 12
12,856.90 89
2,459.17 49
2,745.83 58
23,166.78 77
1,703.06 68
1,104.09 138
1,028.53 93
WO 1M MED
dm ammo wma
20,760.00 100
130,375.23 80%
152,410.13 87%
IMO WEI 06111
5,351.58
500.00
4,149.24
3,628.14
806.18
1,160.25
7,280.64
19,840.16
4,270.65
5.00
2,372.58
74
83
134
202
62
73
78
115
74
3
158
225',923.00
65,6 .00
1,00 00
1,000.'0
3,000.0
800.00
1,804.00
2.3,113.87
4,960.60
45.70
5.55
25.89
OM MO Mk
201,774.55 89%
41,832.43
25.00
513.15
1,256.86
180.63
54.00
73 225.00
46,672.00
1,000.00
1,500.00
8,000.00
300.00
1,500.00
2,000.00
5,500.00
12,000.00
500.00
300.00
8,000.00
400.00
18,000.00
14,153.00
119,825.00
5,037.74
3,634.83
210.60
125.00
666.67
18.88
8.00
22 .50
220.18
25.56
1,376.67
15.60
MMDMIO
6,524.49
43 862.07
35,236.31
882.60
1,250.00
6,666.66
654.94
727.42
1,353.77
3,323.18
10,518.46
192.60
4,206.08
660.64
18,450.00
14,152.51
98,275.17
64%
3
51
42
23
3
60%
75%
88
83
8
2883
48
18 411
68
60
88
64
53
165
103
100
82%
f
aiami efhorentage
F L OR ID A
December 30, 1976
ALL PENSION BOARD MEMBERS
There will be a breakfast meeting of the Pension Board at
the Howard Johnson's Restaurant on 95th Street and N.E. 2nd
Avenue on Tuesday, January llth, 1977 at 8:15 A.M.
The agenda will include:
1. Reading the minutes of the last meeting (November 3, 1976)
2. Approval of the Actuaries (The Wyatt Company) invoice for
services rendered to the Pension Plan for the year. (Copy
of bill attached)
3. Approval of Harry Brown request to go on pension as of
1/1/77, and the Actuary Report.
4. Review on Auditors (Coopers 6 Lybrand) summary sheet on
Miami Shores Pension Plan as per fiscal year 9/30/76
audit report. Presented by Pension Secretary, Jim Glaid.
5. Settlement with the State of Florida on Statute 175 Monies.
6. Hal Petrey situation, and recommendations from Village
Council on possible entry into the Pension Plan.
7. Discussion on proposal to allow employees to join plan
at age 18, rather than age 21. (Copy of Officer B. Brenman's
letter of 11/10/76 attached)
JAG/vn
dl4A44
JAMES A. GLAID
Pension Secretary
CHICAGO
CLEVELAND
DALLAS
DETROIT
FORT WORTH
HONOLULU
HOUSTON
LOS ANGELES
THE
COMPANY
ACTUARIES AND EMPLOYEE BENEFIT CONSULTANTS
9595 NORTH KENDALL DRIVE
MIAMI, FLORIDA 33156
306) 274-8080
December 6, 1976
Mr. James Glaid
Financial Director
Miami Shores Village
10050 N.E. 2nd Avenue
Miami Shores, Florida 33138
Dear Mr. Glaid:
Enclosed is our statement for actuarial services rendered
through November 30, 1976, in the amount of $5,829.00.
If you have any questions regarding this statement, please
do not hesitate to call or write.
Sincerely,
R. James Methven
Consultant and Manager
/j
Enclosure
31 air ��aR
MIAMI
NEW YORK
PHILADELPHIA
SAN FRANCISCO
WASHINGTON
OTTAWA
TORONTO
tiVp
December 21, 1976
Pension Board
Miami Shores Pension Plan
Miami Shores, Fla.
Gentlemen:
I hereby apply for a service retirement annuity in accordance
with the provisions of Miami Shores Pension Plan to take effect. as of
January 1, 1977. I will have discontinued service with Miami Shores
Village, Public Services at the end of the date, December 31, 1976.
I was born on March 22, 1913.*
My beneficiary was born on August 18, 1929 .
* To be verified by the Board.
Yours very truly,
Harry Browne zze ri /7
Signed /�
Beneficiary Name Lonnie Mae Donaldson
( Niece) 1229 N V71 72nd St.
Miami, Fla.
%O...• u. o.tt• ....b,H1144 tier
REPORT OF
I• CONFIDENTIAL SOCIAL SECURITY BENEFIT INFORMATION
Information about o parson's Social Security benefits is confidential by law. Except undor cortain Circumstances
specified by tow and regulations, the Social Security Administration doos not reveal such information to any per.
son except the beneficiary involved, or his or her authorized representative.
SOCIAL. iniC,.uniT`r CLAIM NUMBER)
021 0/c>21 Pt `71
Beneficiary's name and address
aICA
a r Ora (20
ib 3?" st-
/72/M O , , 33/ 4/7
1. Name of person or agency from whom a
request for benefit information was
received.
,'Beneficiary
❑ Other (Show name and address)
The person or agency named in item (1) above hos requested information about your benefits. The information re-
quested has been provided in the items checked (1) below, and is being sent to you for your convenience. If you
want the requesting agency (other than yourself) to have this information, you may show or send them this official
report.
2. ❑ The gross amount of your monthly benefit is $
The amount deducted for Medicare is $
The net amount of your social security check each month is $
3. ❑ The above amount became effective
(Month) (Year)
4. ❑ Your monthly benefit (before deduction for Medicare) from
to was $
Mo. Yr. Mo. Yr. /`
. According to our records your date of birth is )714reh 2 &) /g'/
6. C]
e ore unable, at this time, to tell you whether benefits may be payable in your case, because the processing
of your claim for disability benefits has not been completed. If it is determined that benefits are payable, you
will receive notification of the exact amount and effective date.
T. ❑ Other
•
ORM SSA.2458 rs•tst
SIGN T
SS 01 T
TITL
F AUTHORIZED OFFICIAL.
y/ 1
FFIC OGRESS
SOCIAL SECURITY ADMINISTRATION
P. 0. Box 1100
633 N. E. 167th Street
North Miami Beach, Fia. 33160
TRItiPHONR 110.
DATE
1uMM 1 ONgNt»s—
* u.s.Oo.o nn sisPss,nss
MIAMI SHORES PENSION PLAN
Calculation of Deferred Retirement Income
1. Name.
2. Date of birth
3. Date of employment
4. Normal retirement date
5. Deferred retirement date
6. Credited service as of deferred retirement date
7. Average final compensation as of deferred retirement
date $671.43
Basic No. of
Year Compensation Paid Months
Harry Brown
March 22, 1914
March 23, 1949
April 1., .1976
January 1, 1977
27.750 years
1976
1975
1974
1973
1972
$ 9,147.60
$ 8,949.00
$ 8,060.00
$ 7,306.00
$ 6,823.00
$40,285.60
12
12
12
12
12
60
8. Accrued monthly retirement income as of deferred
retirement date
(a) 2% (.0200) x $671.43 = $13.43
(b) Item 6. x Item 8.(a) _ $372.68
9. Monthly deferred retirement income payable for
life, first paymentpayable on January 1, 1977 $372.68
Based on information.supplied by the Village and the provisions of the plan,
the monthly deferred retirement income payable to Harry Brown is $372.68.
The first payment is due on January 1, 1977 with subsequent payments due on
the first day of each succeeding month and the last payment being the pay-
ment due in the month in which death occurs. Mr. Brown is guaranteed to
receive payments which'total $5,952.27, his accumulated .employee contri-
butions.
Prepared by:
Certified by: The Wyatt'Company
Actuaries for the Plan
`�el/li i ter,. ri
Reviewed by: , 6' %-J ,li`'f�,2.f4-,!.c..
Wallace W. Wilson, F.S.A.
Actu a'rial Assistant Actuary
Terry ,i�. Fox
THE Wail COMPANY
Wm,
1
0
Cl
1 S7curity Aw
erti
C76342 CMI
(IA
e
L
Department of Health, Education, and Welfare
Social Security Administration
Date
Name and Address of Payee as the Claimant
Or as Representative of the Claimant
•
HARRY BROWN
1506 NW 7o ST
MiAmI FL 33147
12/13/76
Claim Number 264202241"A
Type
lYpe of Date of Monthly
Benefit Entitlement Benclit
RETIREMENT 1/77 8280.00
Amount of First Payment: $2R0•90
SH;IRTLY AFTER 2/03/77, YOU W/LI: RECEIVE YOUR.FIRST CHECK WHICH
WILL INCLUDE ALL BENEFITS DUE YOU THROUGH 1/77. AFTER THAT, A
CHECK FOR $280.90 WILL: BF SENT TO YOU EACH MONTH.
This certifies that you (or the person(s) on whose behalf you
applied), became entitled under the Social Security Act to the
social security benefits shown.
James 13. Cardwell
Commissioner of Social Security
SSA -30 (3-76) Important: See other side for information about your rights and responsibilities E>
If you believe this determination is not correct, you may request that your claim be
re-examined. If you want this reconsideration you must request it not later than 60 days from
the date you receive this notice. You may make your request through any social security office.
If additional evidence is available, you should submit it with your request.
The right to receive social security benefits carries with it certain responsibilities. They are
explained in the booklet furnished you. Read this booklet carefully. Be sure that you .
understand. clearly what you can expect by way of benefits, and what is to be expected of you.
If you have any questions or wish additional information about your benefits, please get in
touch with any social security office. Most questions can be handled by telephone or mail. If
you visit an office, however, please take this Certificate with you.
KEEP AS A PERMANENT RECORD -- DO NOT DESTROY
MIAMI SHORES VILLAGE, FLORIDA
ANALYSIS OF TRANSACTIONS IN PENSION TRUST FUND
for the fiscal year ended September 30, 1976
Total fund assets (at cost)
at October 1, 1975
Miami
Shores
pension
Fund
.$1,286,206
Receipts or increases in fund: ,000
1. From Village 65 65,00
2.. From State of Florida 1 ,2
0609
3., From employees 61,118
4. Interest income 21,707
5. Dividends on Corporate stocks
6. Net gain on sale or maturity 2,040
of securities
Expenditures or decreases in fund:
1. Pensions paid
2. Withdrawals by employees
. no longer employed
3. Trustee fee
4. Audit fee
.5. Actuary fee
Total of fund assets (.at'cost)
September 30,.1976
(81';025)
(22,961)
(1,869)
(400)
(5,831)
Police
Dept.
Pension
Fund
$7,263
Total
$1,293,469
65,000
10,692
61,118
• 62,638.
21,707
2,040
(81,025)
(22,961)
(1,869)
(400)
(5,831)
• 11.397.315, , $1.404.578
FLORIDA
'33138
Mr. James R. Vereen, Director
Municipal Firemen's Retirement Trust Funds
State Treasurer Insurance Commissioner
Tallahassee, Florida' 32304
Dear Mr. Vereen:
EARL K. ANDERSEN
VILLA06 MANAOBR
December 16, 1976
Thank you for your latest letters of November 16th and November 24th,
regarding return of Chapter 175 Funds.
This is to advise you that we are planning a Pension Board Meeting
for the first part of January, to help resolve your claim. I cannot
speak for the Board, since I am not a voting member, but I know their
individual.concern for settling this matter according to the legal statutes.
I can also see their concern for funding the liabilities of the City which
are•and will be due to Mr. Fowler and Mr. Sennef, as you are concerned with
funding your employee benefits. Several members of the Board are anxious
to get this. settlement made promptly.
'JAG db.
Very truly yours,
/441-')
J. A. Glaid
Pension Board Secretary
BILL GUNTER
XiatinVeUX
STATE TREASURER
INSURANCE COMMISSIONER
TALLAHASSEE, FLORIDA 32304
Municipal Fireman's
Pension Trust Fund
1
Mr. James A. Glaid
Secretary, Pension Board
Miami Shores Village
10050 N. E. 2nd Avenue
Miami Shores, Florida 33138
November 24, 1976
Mr, William F. Fan 1, J
Village Attorney
Miami Shores Village
10050 N. E. 2nd Street
Miami Shores Village, Florida 33138
Dear Mr. Fann:
The decisionreachedby this office concerning the
Municipal Fireman Pension Fund of the City of Miami
Shores Village, was related to your office by a
copy of a letter addressed to Mr. Wallace W. Wilson.
As stated in that letter this office has taken the
position that the City of Miami Shores Village should
return to the State of Florida the entire contributions`
placed in this fund since 1970. The total amount to be
returned to the State of Florida by the City of Miami
Shores Village is $20,512.01.
If you have further questions concerning this matter,
please call this office at any time.
Sincerely,
BILL GUNTER
STATE TREASURER AND
INSURANCE COMMISSIONER
James R. Vereen
Municipal Police and Firemen • s
Retirement Trust Fund
JRV:sa
cc: Mr. James A. Glaid
Secretary, Pension Board,
Miami Shores Village
F L OR 1 DA
3 3 I 3 8
November 17, 1976
James R. Vereen, Director
Municipal Police and Firemen's
Retirement Trust Fund
Office of Treasurer
Insurance Commissioner State of Florida
Tallahassee, Florida 32304
WILLIAM F. FANN. JR.
VILLAGE ATTORNEY
Re: Chapter 175, F.S.A. - Transfer of Firemen to State
Pension Fund by Miami Shores Village
Dear Mr. Vereen:
This is a follow up on the letter of Wallace W. Wilson,
Actuary, dated November 5, 1976.
As stated previously, I am prepared to recommend settlement
of this dispute on the basis of yielding on the question
of vested rights of Mr. Fowler. According to Mr. Wilson's
figure, as set forth in his letter of November 5, 1976, the
amount has increased to the sum of $5,555.61.
Please let me know if you are agreeable to a settlement on
this basis, and, if so, I will recommend it to my Board, and
I am fairly confident that my recommendation will be accepted.
Very truly yours,
WILLIAM F. FANN, JR.
WFF,Jr/cp
cc - Mr. James A. Glaid, Secretary
Pension Board, Miami Shores Village
10050 N. E. Second Avenue
Miami Shores, Florida 33138
111 November 16, 1976
1
Mr. Wallaoe W. Wilson, F.,S.;A.
Actuary
The Wyatt Company
9595 North Kendall Drive
Miami, Florida 33156
Dear Mr. Wilson:
Mr.. S. A. Senneff retired March 1, 1969, under the provisions of
the City of Miami Shores Village Pension Plan established by
Ordinance #273 and amended by Ordinance #291. Section 20 of
Ordinance #273 created a special fund for Firemen and Police
Officers and the excise tax monies contributed through this
office was placed in this special fund for the benefit of .the.
Firemen and Police Officers. Section 20(A) states the special
fund is created separate and distinct from the City of Miami
Shores Pension Fund and all monies received by Miami Shores
Village under the provisions of Chapter 175 and 185, Florida
Statutes, will be placed in this special fund. Under the
provisions of Section 20 the participant was allowed at his
retirement to b paid the entire amount standing to his credit
in the special fund. Records in this office indicated Mr.
Senneff received his full share of this special fund upon his
retirement. Since Mr. Senneff received the full amount credit-
ed to his standing at the time of his retirement, it is the
opinion of this office that the State of Florida has no further
obligations concerning his retirement. Any retirement due
Mr. Senneff must come from the City of: Miami Shores Village
since no retiree could expect to receive the full amount credited
to his standing in a lump sum and. also receive .a monthly pension
from the same fund.
The Miami Shores Village Pension Plan was amended August 18, 1970,•
and State contributions was placed in the fund for additional
benefits for Firemen and Police Officers. All Firemen in the City
of Miami Shores elected to join the Dade County Retirement Plan
October 1, 1975. These Firemen were then no longer eligible to
participate in the excise tax under the provisions of Chapter 175,
Florida Statutes. Since your city has no Firemen eligible for
r.-tirement or with a vested right as of October 1, 1975, this
plan must be terminated and the assets distributed under the
.Mr. Wallace W. Wilson, F.B.A.
Page Two
November 16, 1976
provisions of Sub -section 175.361(D).
This office is requesting the City of Miami Shores to return
the excise tax, in the amount of $20,512.41, distributed under
the provisions of Section 175.351, Florida Statutes, to the
Miami Shores Village Pension Plan.
Thank you for all of your past services to this office,when we
can be of service to you, please do not hesitate to call.
' Sincerely,
JRV;sa
BILL GUNTER
STATE TREASURER AND
INSURANCE COMMISSIONER
James R. Vereen
Munioipal Police and Firemen's
Retirement Trust Fund
cc* Honorable Donald W. McIntosh
Mayor, Miami Shores
William F. Fann,'Jr.
�n�l �rytlt
STATE TREASURER
INSURANCE COMMISSIONER
FIRE MARSHAL
Mr. William F. Fann, Jr.
Village Attorney
10050 N. E. 2nd Avenue
Miami Shores Village, FL 33138
Dear Mr. Fann:
o
trrect.wreit
e//L:1ff)(4Zl,Ce gI71mG.Swner
STATE OF FLORIDA
TALLAHASSEE 32304
October 6, 1976
A further review of the records indicates that James
J. Fowler also withdrew his share of the Special Fund
established by Ordinance No. 291, of the City of Miami Shores
Village.(See attached copy). This places Mr. Fowler in the
position of participating in the City of Miami Shores Village
Plan and the City assuming responsibility for his retirement
until Ordinance No. 349, the new plan, was adopted August 18,
1970. From August 18, 1970 until July 31, 1972, when Mr.
Fowler resigned, this office participated in the City of
Miami Shores Village Retirement Fund.
When a city has its own retirement plan, the money from
this office is used to provide additional benefits as pro-
vided in subsection 185.35(2), Florida Statutes. The amount
calculated by this office for the August 18, 1970 to July 31,
1972 period for James J. Fowler is in the amount of $743.40.
In my letter to Mr. Wallace Wilson dated May 3, 1976, I
asked him to provide this office with his calculations concern-
ing this matter, as of this date I have not received this
material. Your statement concerning the transfer of funds in
the amount of $1,994.80 is not clear, will you please clarify
your position op this point.
If this office can be of further service to you concerning
this matter, please do not hesitate to call on us at any time.
Sincerely,
P
ILI
TATE
NSU
F. ASHLER
TREASURER
CE COIONER
Vereen, Director
ipal Police and Firemen's
rement Trust Funds
JRV/pfs
Enclosure
Jame
Mun'
Re
ADMINISTRATION / BANKING AND COLLATERAL. SECURITIES / REHABILITATION AND LIQUIDATION / FINANCIAL RESPONSIBILITY
ARSON AND FIRE PREVENTION / LIQUEFIED PETRfLsum =Ala
MIAMI SHORES POLICE DEPT.
MEMORANDUM
TO:
FROM:
RE:
Lt. Zoovas, Acting Chief via channels
Ptl. B. Brenman
Pension Plan
DATE: 10 Nov. 1976
Regarding theiMiami Shores. Pension Plan, I have been
employed by Miami Shores Police Department since
October 31, 1975 and have not as yet been enrolled
in the Pension Plan.
I feel as though since I am a police officer I should
be enrolled in this plan regardless of my age, since
I perform my dutibs in the same manner as those officers
who are 21 years of age and older.
RECEIVED
MIAMI SHORES POLICE DEPT.
MEMORANDUM
111 TO: Village Manager DATE: 10 Nov. 76
FROM: Lt. M. A. Zoovas
RE:
Pension Plan
Please refer to the "Membership" provisions of the attached
pension plan summary sheet, as well as the accompanying memo-
randum by Officer Brenman.
Soon, our Police Department will have in its employ two officers
under the age of 21, one of whom is Officer Brenman. A second
young man, Steve Sadowski, will begin his employment with our
agency on November 19, 1976. Inasmuch as Sadowski has recent-
ly celebrated his 19th birthday, the 21 year old pension plan
requirement will be significant to him.
I bring this to your attention in the hopes that a revision
of the plan might be considered by the Pension Board.
Thank -you.
Lt. M. A. Z•o =s
Acting Chief of Police
Attachments