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100 Andover Retirement System $ 91,415.33 Transfer to Other System-D.Billard <br />SECONDED BY: FRANCIS DRISCOLL <br />VOTED: (5-0-0) UNANIMOUS <br />INFORMATIONWESTIONS/OTHER ITEMS <br />• A transfer amount of $15,569.46 dated November 30, 2008 was received from Everett Retirement Board for <br />Dina McCarron, Public Health Nurse. Everett will accept liability for 4 years and 1 month of creditable <br />service for the period of 9/7/04-10/31/08. <br />Accidental Disability retiree Donald Stead had excess earnings for 2007. Notification letter was sent out on <br />December 8, 2008 to either pay the amount due to the retirement board or to request a hearing. If neither has <br />happened then his retirement allowance will be terminated until the total amount has been collected. He must <br />fulfill his obligation from years 2001-2004. Mr. Stead's lawyer has contacted the office and would like to <br />attend the January 28, 2009 meeting for a hearing. PERAC did offer to attend the hearing for Mr. Stead <br />regarding his excess earnings for 2007. Mr. Stead's lawyer set up a hearing for January 28, 2009 board <br />meeting. Because it is a night meeting, PERAC cannot attend. <br />• Received a copy of a letter that was sent to Donald Stead from PERAC. PERAC is requesting copies of Mr. <br />Stead's 2005 &2006 Federal Income Tax Forms Schedule E from his form 1040 for each of those years. As <br />of December 10, 2008, Mr. Stead has not complied. Failure to submit the requested documents by December <br />31, 2008, will result in the termination of his retirement allowance. <br />• Received notification from PERAC that they are in receipt of the Reading Retirement Board's Form 5300, <br />Form 2848, Form 8821, Local Option Checklist and payment in connection with its request for an IRS <br />Determination Letter. <br />• The Board received a request from PERAC to update a list of disability retirees. Also, would like a "New <br />Member Data" form for all new retirees approved by the board for accidental or ordinary disability in 2008 <br />Request for information should be returned to PERAC no later than January 16, 2009. <br />• The next board meetings will be January 28, 2009 at 6:00 pm in the Berger Conference Room, February 25, <br />2009, March 25, 2009, April 22, 2009, May 27, 2009, and June 24, 2009 in the Lower Level Conference <br />Room. <br />MEMORANDUMS & LETTERS RECEIVED <br />PERAC Memo #39/2008 - Portfolio Rebalancing <br />OLD & NEW BUSINESS <br />ADJOURNMENT <br />• FRANCIS DRISCOLL moved to adjourn this open session at 6:40 P.M. <br />SECONDED BY: DANIEL SEFERIAN <br />VOTED: (5-0-0) UNANIMOUS <br />