Laserfiche WebLink
., <br />Albert Heselton, who worked for the DPW Department and retired on March 25, 1977, passed away on 6/1/04. He chose <br />Option C at his retirement but then popped -up to Option A upon the death of his spouse in 1990. <br />Richard Brown, who worked for the Fire Department and retired on December 31, 1974, passed away on 6/16/04. He <br />chose Option B at his retirement but there are no funds remaining. <br />A "Notification of Suspension" has been received from PERAC regarding Paul Sheridan and Murray Airhart for failure to <br />file their required Annual Statement of Earned Income. The Board Administrator notified them that they have an <br />opportunity to be heard by the Board and that they can attend the board meeting on June 29 or ask for another date more <br />convenient for them. However, they have until July 19 to come in for a hearing. As noted above, Murray Airhart attended <br />this meeting. <br />The board reviewed the following items relating to the Reading Retirement System: <br />Bank Reconciliation for the month ending May 31, 2004. <br />The PRIT fund's monthly account statement and fund performance for the period ending May 31, 2004. <br />Reading's Profile in the PRIT Fund as of first quarter ending March 31, 2004. <br />Memos & miscellaneous letters received: <br />PERAC - Memo # 21/2004, dated 6/4/04 — Change to the Definition of Veteran <br />Retired State County and Municipal Emolovees Association of Massachusetts — Notice dated June 15, 2004 — <br />Conference Comrnittee releases final FY05 Budget — Brief description of some of the key retirement related <br />changes that are contained within the conference report (H13 4850). <br />PRIM — Based upon PERAC's 2003 annual report Michael Reardon, senior client service officer at PRIM, <br />compiled rankings for retirement boards who are invested in PRIT by their 2003 returns, 5 year returns and 19 <br />year returns (since inception). <br />MACRS — Notice dated June 25, 2004 — 2004 Fall Conference, October 3- October 6, 2004 in Danvers <br />The next board meeting will be held on July 21, 2004 <br />Meeting adjourned at 7:30 P.M. <br />Present: Foley, Klepeis, Veno, Seferian, DeAngelis, and Murray Airhart <br />Henry J. Boissoneau, 1" elected <br />W0 �4z <br />Richard P. Foley, Ex Officio <br />