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1236 <br />• FRANCIS DRISCOLL moved to accept the allocated lump sum settlement of Mark Spataro's Accidental <br />Disability: <br />SECONDED BY: RICHARD FOLEY <br />VOTED: (5 -0 -0) UNANIMOUS <br />• FRANCIS DRISCOLL moved to allow remote participation, 940 CMR 29.10: <br />SECONDED BY: RICHARD FOLEY <br />VOTED: (5 -0 -0) UNANIMOUS <br />APPROVAL OF INVOICES TO BE PAID <br />• FRANCIS DRISCOLL moved to approve the following warrant #AP 122011 totaling $651,679.94: <br />Commonwealth of Mass. <br />$ <br />583.72 <br />RHA Health Ins. Deductions <br />Commonwealth of Mass. <br />$ <br />1,969.11 <br />State Tax Deductions <br />Commonwealth of Mass. <br />$ <br />216.66 <br />Child Support <br />Internal Revenue Service <br />$ <br />58,649.03 <br />Federal Tax Deductions <br />Reading Credit Union <br />$ <br />32,423.00 <br />Credit Union Deductions <br />Dec. Retirement Allowances <br />$ <br />506,710.32 <br />Net Retiree Payroll <br />Town of Reading Treasurer <br />$ <br />47,166.85 <br />Hlth, Life, & Dental Ins. Deductions <br />Town of Reading <br />$ <br />174.04 <br />Postage due Town <br />Town of Reading Treasurer <br />$ <br />3,697.65 <br />December's Administrator's Salary <br />Kingsbury Press <br />$ <br />89.56 <br />Administrative Expense — 1099R's <br />SECONDED BY: RICHARD FOLEY <br />VOTED: (5 -0 -0) UNANIMOUS <br />INFORMATION /QUESTIONS /OTHER ITEMS <br />• Patricia Shields, school employee who works 22 pay periods, was not having the correct amount withheld for <br />her 2% retirement deductions. The Treasurer has brought this to the school's attention and the issue has been <br />corrected going forward. The member owes the Reading Retirement System $260.12. The Board agreed to <br />allow her to make installments in a reasonable timeframe. <br />• Paul Todisco, Senior Client Services Officer from the PRIM Board, PRIT, would like to attend the February <br />21, 2012 board meeting to discuss the performance of the funds in PRIT. <br />• Received an email from Daniel Sherman informing the board that he has established a new actuarial <br />consulting services firm: Sherman Actuarial Services, LLC. <br />• The Board received notice from PERAC that the amount to be appropriated for the Reading Retirement <br />System for FY13 is $4,543,434. <br />• The Board received notice from PERAC that the funding schedule recently adopted has been approved. The <br />schedule assumes payments are made July 1 and January 1 each fiscal year. 1 <br />• Received a draft copy of the Lump Sum settlement agreement from Attorney Alan Pierce for Accidental <br />Disability retiree Mark Spataro. The attorney is inquiring if the allocations are acceptable to the Board as to <br />allow Mr. Spataro to receive his full 72% ADR benefit following approval of this settlement. Spoke to Judy <br />