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Marianne (Baker) Fabbri was buying back a total of 2 years and 4 months of creditable service. The Board <br />allowed Marianne to stop her deductions for make up payments beginning with P/E 12/5/03. She had a <br />balance of $2,092.00. Her buyback was pro-rated, allowing 11 months of creditable service to be added to <br />her total years of creditable service. The buyback was recalculated for the remaining 1 year and 5 months of <br />creditable service from Stoneham and Division of Employment Security. The current cost is $2,319.16 and <br />Marianne has requested $25 to be deducted each pay period. Marianne will begin payroll deductions with the <br />June 13, 2008 pay period. <br />SECONDED BY: FRANCIS DRISCOLL <br />VOTED: (5-0-0) UNANIMOUS <br />APPROVAL OF VOUCHERS <br />RICHARD FOLEY moved to approve the following vouchers: <br />2008 Voucher # 44 <br />Town of Reading Treasurer <br />$5 <br />51,661.84 <br />45 <br />Town of Reading <br />$ <br />143.64 <br />46 <br />Wellesley Retirement System <br />$ <br />2,497.34 <br />47 <br />W.B. Mason Co., Inc. <br />$ <br />17.03 <br />48 <br />MACRS <br />$ . <br />250.00 <br />49 <br />Winthrop Retirement Board <br />$ <br />3,355.53 <br />May retiree payroll <br />Postage due to Town <br />Section 3(8)(c) Reimbursement <br />Administrative Exp - supplies <br />Administrative Exp - MACRS Conf. <br />Section 3(8)(c) Reimbursement <br />Voucher #48 was approved on May 23, 2008 by three board members. <br />SECONDED BY: FRANCIS DRISCOLL <br />VOTED: (5-0-0) UNANIMOUS <br />INFORMATIONWESTIONS/OTHER ITEMS <br />• At the March 26, 2008 board meeting, the Board approved retirement application for Jane Cann with a <br />retirement date of 6/29/08. Correct date of retirement should be 6/19/08. <br />• Gertrude Asmussen, Option C beneficiary of Frederick Asmussen, died May 6, 2008. <br />• Gladys Brown who worked for School Dept. and retired on June 30, 1993, passed away on 5/12/08. 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 monthly statement & fund performance for period ending April 30, 2008. <br />General Ledger Trial Balance as of January 31, 2008 - April 30, 2008. <br />Bank Reconciliation for the month ending January 31, 2008 - April 30, 2008. <br />• The next board meetings will be June 24, July 23, August 27, September 24, October 29, November 25, and <br />December 17, 2008 at 6:00 pm in the Lower Level Conference Room. <br />MEMORANDUMS & LETTERS RECEIVED <br />PERAC Memo #19/2008 - Former Members Returning to Public Employment - The Commission has received <br />several inquiries regarding the treatment of former members of a retirement system who return to public <br />employment. They give a summary of several scenarios. <br />