2002-07-24 Retirement Board Minutes

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81J The Reading Retirement Board held a meeting on JULY 24, 2002, in the Accounting and Finance Department Office, Town Hall, Reading, Massachusetts. The meeting was called to order at 6:05 P.M. Minutes from the April 24, 2002 meeting were signed by the board members. Minutes from the May 29, 2002 meeting'were signed by the board members. Minutes from the June 26, 2002 meeting were read and accepted. Minutes from the July 8, 2002 meeting were read and accepted by all members except Joseph Veno, who was absent for that meeting. Approved new membership: John Feudo Recreation- Program Coordinator DOH - 7/9/02 9%+2% Approved refunds Jonathan Breton Resigned from DPW- Highway - 2/7/02 0 years 10 months Total deductions and interest $ 2,040.87 Less 100% interest $ 14.10 Less 20% federal income taxes $ 405.35 Net refund (cash) $ 1,621.42 Jonathan Colleran Resigned from DPW - Laborer - 6/7/02 0 years 10 months Total deductions and interest $ 1,835.74 Less 100% interest $ 6.76 Less 20% federal income taxes $ 365.80 Net refund (cash) $ 1,463.18 Approved transfer to other system: Joann McMahon To Mass Teachers' Retirement Reviewed and approved the following vouchers 2002 Voucher # 40 41 42 43 44 45 46 Town of Reading Treasurer Town of Reading Treasurer Jonathan Breton Town of Reading Treasurer Jonathan Colleran Town of Reading Treasurer MA Teachers' Retirement Board $ 37,711.40 18 years 2 months $409,615.57 July retiree payroll $ 2,575.50 July admin. salary $ 1,621.42 Refunds to members (cash) $ 405.35 20% Fed income tax (Breton) $ 1,463.18 Refunds to members (cash) $ 365.80 20% Fed income tax (Colleran) $ 37,711.40 Trsf to other systems (McMahon) Roberta Maillett had filed an appeal with CRAB in July 2001 regarding the Reading Retirement Board members' vote of June 27, 2001 denying her a refund of her deductions and interest. A hearing was scheduled for April 11, 2002 at DALA. Roberta did not attend the hearing and on April 17, 2001 an order to show cause as to why the appeal should not be dismissed was issued by DALA. She did not respond in a timely manner so the appeal was dismissed with prejudice. The cost of living increase for the FY 2003 will be reflected in the July 2002 retiree checks. A notice from PERAC, dated June 12, 2002, regarding M.G.L. c.32, §91A was received. Two retirees, Paul Vallee and Paul Sheridan, were sent "notification of suspension" letters by PERAC because they had not submitted the required annual report of earnings and failed to show good cause for such. A written notice was provided by the Board Administrator to both retirees on June 14, 2002 giving them an opportunity to be heard by the retirement board. Paul Vallee has. submitted his required annual report of earnings. PERAC sent the Board a letter confirming this. Paul Sheridan has not responded by the July 12, 2002 deadline. The Board Administrator will file with the Commission copies of the Board's determinations regarding this issue. The Board voted to continue to suspend Paul Sheridan's retirement allowance.