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2008-08-27 Retirement Board Minutes
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2008-08-27 Retirement Board Minutes
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• DANIEL SEFERIAN moved to approve final calculations for the following retirements approved by PERAC: <br />Judith Colella School-SPED 6/19/08 18 years, 8 mths Option A <br />(Superannuation) Annuity: $ 1,986.60 <br />Pension: $ 5,011.68 <br />Yearly: $ 6,998.28 <br />Monthly: $ 583.19 <br />Margaret Gaskill School-Cafeteria 6/19/08 28 years, 10 mths Option B <br />(Superannuation) Annuity: $ 2,774.40 <br />Pension: $ 7,300.20 <br />Yearly: $10,074.60 <br />Monthly: $ 839.55 <br />Jane Cann School-SPED 6/22/08 21 years, 9 mths Option C <br />(Superannuation) Annuity: $ 2,095.20 <br />Pension: $ 4,514.72 <br />Yearly: $ 6;61192 <br />Monthly: $ 551.16 <br />Michael Cloonan Police 6/30/08 33 years, 6 mths Option C <br />(Superannuation) Annuity: $ 9,386.28 <br />Pension: $62,459.28 <br />Yearly: $71,845.56 <br />Monthly: $ 5,987.13 <br />James Collins RMLD 8/1/08 <br />(Superannuation) Annuity: <br />Pension: <br />Yearly: <br />Monthly: <br />SECONDED BY: RICHARD FOLEY <br />VOTED: (4-0-0) UNANIMOUS <br />APPROVAL OF MISCELLANEOUS ITEMS <br />16 years, 1 mth Option C <br />$ 6,174.36 <br />$19,306.44 <br />$25,480.80 <br />$ 2,123.40 <br />• DANIEL SEFERIAN moved to approve request from eligible member to purchase military service for <br />creditable service: <br />William Hill Air Force/Reg AF 11/10/66-11/9/70 4 years, 0 months <br />The total purchase amount is $11,289.64. William will begin payroll deductions with the September 5, 2008 <br />pay period. <br />SECONDED BY: RICHARD FOLEY <br />VOTED: (4-0-0) UNANIMOUS <br />• DANIEL SEFERIAN moved to require members to repay the system for the amount previously included in <br />their retirement allowance for the monetary value of the personal use of an employer-supplied motor vehicle. <br />Such payments are to be obtained over a period not to exceed 6 years from October 31, 2008 in 72 equal <br />monthly installments. <br />SECONDED BY: RICHARD FOLEY <br />VOTED: (4-0-0) UNANIMOUS <br />
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