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2012-09-25 Retirement Board Minutes
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2012-09-25 Retirement Board Minutes
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y r. <br />SECONDED BY: SHARON ANGSTROM <br />VOTED: (3 -0 -0) UNANIMOUS <br />APPROVAL OF MISCELLANEOUS ITEMS <br />• There was a unanimous consensus of the Board to send a letter to PERAC regarding William Van Horn's <br />medical panel report. <br />RICHARD FOLEY moved to elect Colleen Loughlin as the election officer for the election of the second <br />member, Joseph Veno: <br />SECONDED BY: SHARON ANGSTROM <br />VOTED: (3 -0 -0) UNANIMOUS <br />RICHARD FOLEY moved to approve request from Board Administrator to attend the MACRS Fall <br />Conference being held October 14 — October 17, 2012 at Sheraton Springfield in Springfield, MA. <br />SECONDED BY: SHARON ANGSTROM <br />VOTED: (3 -0 -0) UNANIMOUS <br />APPROVAL OF INVOICES TO BE PAID <br />RICHARD FOLEY moved to approve the following warrant #AP092012 totaling $673,298.97: <br />Commonwealth of Mass. <br />$ <br />646.05 <br />RHA Health Ins. Deductions <br />Commonwealth of Mass. <br />$ <br />1,749.40 <br />State Tax Deductions <br />Commonwealth of Mass. <br />$ <br />216.66 <br />Child Support <br />Internal Revenue Service <br />$ <br />59,905.44 <br />Federal Tax Deductions <br />Reading Credit Union <br />$ <br />33,978.00 <br />Credit Union Deductions <br />Sept. Retirement Allowances <br />$ 521,790.73 <br />Net Retiree Payroll <br />Town of Reading Treasurer <br />$ <br />50,611.98 <br />Hlth, Life, & Dental Ins. Deductions <br />Town of Reading <br />$ <br />167.75 <br />Postage due Town <br />Town of Reading Treasurer <br />$ <br />4,232.96 <br />September's Administrator's Salary <br />SECONDED BY: SHARON ANGSTROM <br />VOTED: (3 -0 -0) UNANIMOUS <br />INFORMATION/QUESTIONS/OTHER ITEMS <br />• At the June 26, 2012 board meeting, the Board approved retirement application for Mark Russell with a <br />retirement date of 9/1/12. Correct date of retirement should be 9/2/12. <br />• Discussed issue with Jospeh Belmonte's veteran buyback. <br />• James Sharkey chose Option C at his retirement and his spouse has passed away. PERAC has included in <br />their records the payment of an Option A retirement allowance to Mr. Sharkey (Option C "pop -up "), effective <br />as of July 27, 2012. <br />• Copies of the following Reading Retirement Board reports were handed out for review: <br />The PRIT fund's monthly statement & fund performance for period ending August 31, 2012. <br />General Ledger Trial Balance as of August 31, 2012. <br />Bank Reconciliation for the month ending August 31, 2012. <br />
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