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2013-06-24 Retirement Board Minutes
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2013-06-24 Retirement Board Minutes
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11/24/2013 8:52:13 PM
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1315 <br />SECONDED BY: SHARON ANGSTROM <br />VOTED: (3.0 -0) UNANIMOUS <br />APPROVAL OF MISCELLANEOUS ITEMS <br />• Discuss and approve RFP for legal services. <br />TABLED <br />• THOMAS CLOUGH moved to approve accidental death benefits to Margaret Thurston. <br />Chester Thurston, who worked for the Police Dept. and retired on December 30, 1983, passed away on <br />5/24/13. He chose Option B at his retirement. He retired on an accidental disability retirement. He retired <br />from hypertension, and he died of myocardial infarction, pneumonia, right hip replacement. His spouse, <br />Margaret has applied for accidental death benefits. <br />SECONDED BY: SHARON ANGSTROM <br />VOTED: (3 -0 -0) UNANIMOUS <br />APPROVAL OF INVOICES TO BE PAID <br />THOMAS CLOUGH moved to approve the following warrant #AP062013 totaling $745,518.68: <br />Commonwealth of Mass. <br />$ <br />655.75 <br />RHA Health Ins. Deductions <br />Commonwealth of Mass. <br />$ <br />1,808.33 <br />State Tax Deductions <br />Commonwealth of Mass. <br />$ <br />216.66 <br />Child Support <br />Internal Revenue Service <br />$ <br />61,805.45 <br />Federal Tax Deductions <br />Reading Credit Union <br />$ <br />35,153.00 <br />Credit Union Deductions <br />June Retirement Allowances <br />$ 536,053.15 <br />Net Retiree Payroll <br />Town of Reading Treasurer <br />$ <br />49,418.67 <br />Hlth, Life, & Dental Ins. Deductions <br />Town of Reading <br />$ <br />175.79 <br />Postage due Town <br />Town of Reading Treasurer <br />$ <br />4,540.99 <br />June's Administrator's Salary <br />Colleen Loughlin <br />$ <br />419.09 <br />Travel Expense — MACRS Conference <br />State Retirement Board <br />$ <br />55,271.80 <br />Section 3(8xc) Reimb for 2012 <br />SECONDED BY: SHARON ANGSTROM <br />VOTED: (3-0 -0) UNANIMOUS <br />INFORMATION/OUESTIONS /OTHER ITEMS <br />Irene Sunbury, who worked for the Library and retired on September 14, 1995, passed away on 4/19/13. She <br />chose Option A at her retirement. The board administrator was notified of her death by her sister on June 10, <br />2013. She is aware that she will owe money back to the retirement system, but she has to wait until she is <br />POA and has access to Gene's funds. <br />• The Board Administrator attended the MACRS training and Spring Conference in Hyannis. Disability <br />Retirements were a topic of discussion. It was suggested by an attorney to have a "hearing" as part of the <br />disability process. PERAC can't by Statue demand a hearing but it is another `tool" boards are using. The <br />Hearing is a fact finding process and is not adversarial and it is done before the Board decides to convene a <br />Medical Panel. The Attorney is the hearing officer and conducts the hearing. It is only recommended for <br />Accidental Disabilities and not Presumptions. It is a due diligence of the Board to observe and interview the <br />member and to gather facts. Surveillance is another tool Boards are using to deny disability applications <br />before the Board convenes a medical panel. <br />
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