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Medford Retirement Board <br />- Cambridge Retirement Board <br />Norfolk County Retirement Board <br />- Taunton Retirement Board <br />1112 <br />• Elinor Mello, who worked for the Finance Dept and retired on May 28, 1999, passed away on 2/16/09. She <br />chose Option A at her retirement. <br />• Copies of the following Reading Retirement Board reports were handed out for review: <br />The PRIT fund's calendar year to date statement & fund performance for period Jan. 1, 2008 to Dec. 31, <br />2008. <br />• The next board meetings will be March 25, April 22, May 27, and June 24, 2009 at 6:00 pm in the Lower <br />Level Conference Room. <br />MEMORANDUMS & LETTERS RECEIVED <br />PERAC Memo #8/2009 - Buyback and Make-up Repayment Worksheets Using Buyback Interest <br />PERAC Memo #9/2009 - Data Verification for PERAC's 2008 Annual Report <br />PERAC Memo #10/2008 - Update - Exclusion from Gross Income of Payments for Health Insurance Premiums. <br />The Pension Protection Act of 2006 allows public safety officers to exclude from their gross income an amount <br />up to $3,000 that is deducted from a taxable retirement allowance for health insurance premiums or long term care <br />insurance contracts. There have been no changes in these federal provisions. <br />PERAC Memo #11/2009 - 840 CMR 10:10(3) & 10:15(4) - Annual Review of Medical Testing Fees. 840 CMR <br />10:10(3) and 10:15(4) states "the medical panel may suggest `non-invasive' medical tests, which the panel <br />considers necessary to render an opinion of the member's medical condition." The regulation further states that <br />the Commission shall assume the cost of any non-invasive test suggested by the medical panel up to an amount <br />the Commission shall determine annually. There are very few instances where reimbursements for medical <br />services ordered by a Regional Medical Panel exceed $100.00. The Commission voted at their meeting held <br />January 27, 2009 to continue the past practice of allowing PERAC staff to approve up to $100.00 per case for <br />non-invasive medical testing associated with the medical panel process. <br />PERAC Memo #12/2009 - 2009 Disability Seminars <br />PERAC Memo #13/2009 - IRS Questionnaire - The IRS has issued a Pilot Governmental Plan Questionnaire to <br />25 governmental pension plans. Even though each of the plans has already filed a Request for a Determination <br />Letter, tax counsel advises PERAC that this will not keep one the plans from being randomly selected and sent a <br />questionnaire. PERAC is asking that we don't attempt to complete the questionnaire on our own, but make a <br />copy and send the original to PERAC to complete. <br />MACRS 2009 Spring Conference is being held June 7 - June 10, 2009 at Four Points Sheraton Hyannis Resort. <br />PERAC Memo #14/2009 - Selection of the Fifth Member - The fifth member shall be chosen by the other four <br />members. All members of the retirement board must be present when this individual is selected. An attempt to <br />appoint a fifth member without the other four members all participating and all voting will be invalid. The vote <br />need not be unanimous. A person may be appointed by a majority. <br />PERAC Pension News <br />OLD & NEW BUSINESS <br />