2009-10-28 Retirement Board Minutes

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• A transfer amount of $13,149.44 dated September 30, 2009 was received from Winchester Retirement Board for Elizabeth Conway, School Human Resources Administrator. Winchester will accept liability for 2 years, and 10 months of creditable service for the period of 9/25/06-8/14/09. • A transfer amount of $21,097.00 dated October 26, 2009 was received from Essex Regional Retirement Board for Kathleen Miksis, Librarian. Essex will accept liability for 21 years, and 4 months of creditable service. • The Reading Retirement Board was copied on a letter that was sent to Robert Toussaint's Medical Panel. The letter was advising the medical panel to review the correspondence and the information provided by the retirement board and to submit their addendum, which addressed the specific questions posed by the retirement board, to PERAC so that the application may be processed. • Received PERAC's approval, of the Reading Retirement Board's supplementary regulation regarding the recovery of amounts in excess of the limitations set forth in G.L. c. 32, § 91A. • Received notification from the Commonwealth of Massachusetts Executive Office of Transportation. This summer, the Commonwealth enacted a landmark transportation reform bill that will integrate existing transportation agencies into the Massachusetts Department of Transportation (MassDOT). • Received a letter from Alliant Driver Specialty Group regarding National Fiduciary Liability Insurance Program. They would like.the opportunity to provide the retirement board with a Fiduciary Liability proposal under their program. • The Board Administrator attended the Fall MACRS Conference in Springfield, MA. Some of the topics - ; included Health Care Reform Update, Social Security Update, and Chapter 21 of the Acts of 2009. MACRS will be having a Comprehensive Training Program for Board Members and Staff at the Spring Conference in Hyannis, MA held in June 2010. • Copies of the following Reading Retirement Board reports were handed out for review:. The PRIT fund's monthly statement & fund performance for period ending September 30, 2009. General Ledger Trial Balance as of September 30, 2009. Bank Reconciliation for the month ending September 30, 2009. The PERAC Financial Bulletin, Financial Market Review, Third Quarter 2009. • The next board meetings will be November 24(Tues), and December 16, 2009 at 6:00 pm in the Lower Level Conference Room. M EMORANDU-MS & LETTERS RECEIVED PERAC - Memo #36/2009 - New Disability Pension Fraud Poster PERAC - Memo #37/2009 - Withdrawal of Accumulated Total Deductions PERAC - Memo #3 8/2009 - Appropriation Data Due October 31, 2009 (Sent to PERAC 10/16/09) PERAC - Memo #39/2009 -Investment Manager List PERAC - Memo #40/2009 - Tobacco Company List PERAC - Memo 441/2009 - Updated CD of PDF Fill-in Forms: Disability & General Membership