2006-01-25 Retirement Board Minutes

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MINUTES OF THE READING RETIREMENT BOARD MEETING WEDNESDAY, January 25, 2006 The Reading Retirement Board held a regular session meeting on January 25, 2006, in the Accounting and Finance Department Office, Town Hall, Reading, Massachusetts. The meeting was called to order at 6:00 P.M. by Chairman Joseph Veno in the presence of members Francis Driscoll, Gail LaPointe, Richard Foley, Daniel Seferian, and Board Administrator, Colleen Loughlin. MINUTES • Regular session minutes for the November 29, 2005 meeting were signed by all board members who were present except for Elizabeth Klepeis who is no longer on the board. • DAN SEFERIAN moved to accept the December 14, 2005 regular session minutes as amended. SECONDED BY: GAIL LAPOINTE VOTED: (4-0-1) ABSTAINED RICHARD FOLEY APPROVAL OF NEW MEMBERS, RETIREMENTS, TRANSFERS AND REFUNDS • FRANCIS DRISCOLL moved to approve the following new members: Peter Dion RMLD Date of hire & membership 12/15/05 9%+2% Timothy Brennan Community Serv Date of hire > 1/3/06 8%+2% Date of membership - 1/5/06 Funds to be transferred from Beverly Sharon Thomas Elder Services Date of hire - 7/12/99 9%+2% Date of membership -10/3/05 Contributed to ICMA so prior service can be purchased SECONDED BY: GAIL LAPOINTE VOTED: (5-0-0) UNANIMOUS • The Board agreed to allow Sharon Thomas to combine the required contribution for the service time (10/3/05 - 12/30/05 - time she was suppose to be in the retirement system) with her buyback for prior Reading service. • FRANCIS DRISCOLL moved to approve the following transfers: Catherine Mahoney To Haverhill Retirement (RMLD) SECONDED BY: DAN SEFERIAN VOTED: (5-0-0) UNANIMOUS APPROVAL OF MISCELLANEOUS ITEMS $17,969.68 6 years, 11 months • FRANCIS DRISCOLL moved to approve request from eligible member to purchase military service for creditable service: Sean Wilson USMC 1993 - 2002 10 years, 9 months, 21 days Maximum amount 4 years