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The Reading Retirement Board held a meeting on APRIL 24, 2002, in the Accounting and Finance Department Office, <br />Town Hall, Reading, Massachusetts. The meeting was called to order at 6:00 P.M. <br />Minutes from the February 20, 2002 meeting were signed by the board members. <br />Minutes from the March 27, 2002 meeting were read and accepted. <br />There were no new members this month. <br />There were no retirement applications this month. <br />There were no PERAC approved retirements this month. <br />Approved refunds <br />James d'Entremont Resigned from DPW - 3/29/02 <br />Town of Reading Treasurer <br />Total deductions and interest <br />$13,387.15 <br />Less 50% interest <br />$ 352.40 <br />Less 20% federal income taxes <br />$ N/A <br />Net refund (rollover) <br />$13,034.75 <br />Joseph L. Boyan Terminated by RMLD - 3/4/02 <br />20 <br />Total deductions and interest <br />$ 2,691.87 <br />Less 0% interest <br />$ 0.00 <br />Less 20% federal income taxes <br />$ 538.37 <br />Net refund (cash) <br />$ 2,153.50 <br />Reviewed and approved the following vouchers <br />2002 Voucher # 17 <br />Town of Reading Treasurer <br />$402,166.74 <br />18 <br />Town of Reading Treasurer <br />$ <br />2,487.53 <br />19 <br />3(8)(c) Reimbursement <br />$ <br />240.73 <br />20 <br />American Express Trust Co. <br />$ <br />13,034.75 <br />21 <br />Joseph L. Boyan <br />$ <br />2,153.50 <br />22 <br />Town of Reading Treasurer <br />$ <br />538.37 <br />23 <br />West Group <br />$ <br />84.00 <br />24 <br />Leonard Rucker <br />$ <br />86.88 <br />25 <br />Petty Cash <br />$ <br />25.00 <br />6 years 1 month <br />0 years 6 months <br />April retiree payroll <br />April admin. salary <br />Middlesex Retirement <br />Refund to member (rollover for <br />James d'Entremont) <br />Refund to member (cash) <br />20% Federal taxes (J Boyan) <br />6 copies MA Gen Laws 32 <br />Erroneous retirement deduction <br />Notary Public Commission Fee <br />Phyllis Maloney, an active member of the Reading Retirement System and teacher aide since 971, attended this meeting to <br />ask the Board to consider allowing her to buy back prior Reading service, from 1971 to 1991, at the rate of 5 %. She <br />became a member of the Reading Retirement System in March of 1994 and should buy back her time at the rates in effect <br />during each time period. The Board decided that any buy back of time should be at the rates in effect during each time <br />period and also that Phyllis Maloney's current deduction rate should remain at 8 %. The Board agreed to send a letter to <br />PERAC explaining Phyllis Maloney's situation, along with copies of backup from the Zena Merullo case, which is very <br />similar to Phyllis Maloney's situation. <br />The Board members voted to grant a 3% cost -of- living increase to retirees for FY 2003, which begins on July 1, 2002 and <br />ends June 30, 2003. <br />The Board members signed the Annual Statement. <br />The Board members discussed Mass Laws Chapter 32, Section 15 - Misappropriation of Funds. <br />The Board has been notified by PERAC of a restoration to service for Charles Johnson. The employer has been notified by <br />the Board Administrator. <br />As discussed at the January 23, 2002 Board meeting, the Board Administrator wrote a letter to Robert Castine asking for <br />the date of birth of a dependent he listed on his 2001 affidavit. His wife called to say that their daughter was bom after his <br />retirement for accidental disability, therefore he is not eligible for a supplementary dependent allowance. <br />805 <br />