02-25-1982 Regular Meeting•
Miami Shores Village
PENSION BOARD MEETING
February 25, 1982
A meeting of the Miami Shores Pension Board was held on
Thursday, February 25, 1982, 8:00 a.m. at the Village Hall, with the
following Board members in attendance:
Mayor Robert Lodge
Mr. Joseph Gionfriddo
Mr. John McCoy
Chief John Fletcher
Miss Ann Vigneron
Absent: Councilman Herbert Spahn
City Manager (vacancy)
Also present:Mr. Sri Balgobin, Pension Administrator
This meeting was called for the purpose of approving the
retirement income for Willie Troupe, retiring March 1, 1982.
An actuarial calculation of Willie Troupe's benefits was
received from the Wyatt Company, which indicated a monthly retirement
income of $479.26. Mr. Gionfriddo moved that the Board approve
payment of this pension. The motion was seconded by Mr. McCoy and
passed unanimously.
As there was no further business the meeting adjourned at
8:05 p.m.
771"
Secretary
• Approved:
Robert J. Lodg:ihairm
Herbert Spahn, Jr.,, hairman pro tem
c .-
MIAMI SHORES PENSION PLAN
Estimation of Normal Retirement Income.
1. Name
2. Social Security number
3. Sex
4. Date of birth
5. Date of employment
6. Normal retirement date
7. Age on normal retirement date
8. Credited service as of normal
retirement date 23.667 years
9. Average final compensation as
of normal retirement date $1,012.39
Willie Troupe
260-42-6048
Male
February 9, 1920
June 24, 1958
March 1, 1982
62.083 years
Year
Basic No. of
Compensation Paid Months
1982 $ 1,641.60* 02
1981 $ 13,808.50 12
1980 $ 12,705.33 12
1979 $ 11,792.16 12
1978 $ 11,533.83 12
1977 $ 9,261.81 10
$ 60,743.23 60
*Estimated
10. Accrued monthly retirement income as
of normal retirement date
(a) 2% (.0200) x $1,012.39 = $20.25
(b) Item 8. x Item 10.(a) =
11. Monthly normal retirement income
payable to the participant for
life, first payment payable on
March 1, 1982
12. Actuarial reduction factor for the
100% Reversionary Annuity Option
form of payment with a female
beneficiary, age 56.833 years,
born May 5, 1925
THE Will COMPANY
$ 479.26
479.26
.7459
Page Two
13. Monthly normal retirement income
payable during the lifetime of the
participant under the Reversionary
Annuity Option, first payment com-
mencing as of March 1, 1982
($479.26 x .7459)
Willie Troupe
$ 357.48
Calculated by: THE WYATT COMPANY
Actuaries for the Plan
.7 7�Prepared by: , t
Jean Mauldin
Administrative
Assistant
Reviewed by:
THE Waal COMPANY
Wallace W. Wilson, F.S.A.
Actuary