06-27-2002 Special Meeting•
MIAMI SHORES VILLAGE
POLICE PENSION BOARD SPECIAL MEETING
JUNE 27, 2002
1. CALL TO ORDER
The special meeting of the Miami Shores Village Police Pension Board was held on Thursday, June
27, 2002 in the Conference Room of the Village Hall. The meeting was called to order at 8:35 A.M.
2. ROLL CALL
In order for the record to reflect those present the roll was called with the following members present:
Mark Ulmer, Chairman
Robert Blum
Sergeant Robert Frame
Detective Timothy Dearden
Absent: William Heffernan
Also Present: Lisa Keeley, Recording Secretary
3. APPROVAL OF ROBERT KNOWLES RETIREMENT OPTION
• Mrs. Keeley explained that Sergeant Robert Knowles is opting to enter into the DROP plan effective July 1, 2002.
He has elected the 100% joint and survivor annuity with a monthly benefit payment of $3,574.02. Detective
Dearden moved for approval of the retirement election which was seconded by Sergeant Frame. The motion
passed unanimously.
4. APPROVAL OF REVISED RETIREMENT OPTION FOR STEVEN SADOWSKI
Mrs. Keeley indicated that during the recent contract negotiations, there was an increase in the benefit calculation
that should have applied to Detective Sadowski's retirement calculation effective January 1, 2002. The actuary
has re -calculated the benefit option of 66 2/3% to a value of $3,250.76. Detective Sadowski's DROP account
will be recalculated to reflect the corrected election. Detective Dearden moved for approval the revised benefit
calculation with a second from Mr. Blum. The vote was unanimous in favor.
5. ADJOURNMENT
The June 27, 2002 special meeting of the Police Pension Board was adjourned at 8:45 A.M..
Mark Ulmer, Chairman
. Lisa Keeley, Recording Secretary