2002-11-20 Retirement Board Minutes

Home Browse Search

835 The Reading Retirement Board held a meeting on NOVEMBER 20, 2002, in the Accounting and Finance Department MU, Town Hall, Reading, Massachusetts. The meeting was called to order at 6:00 P.M. Minutes from the September 25, 2002 meeting were signed by all board members. Minutes from the October 23, 2002 meeting were read and accepted by all board members. Approved transfers to other systems Donald Sullivan To Wellesley Retirement System $ 1,488.37 6 months Alan K. Perkins To State- Boston Retirement Sys. $12,561.74 3 years Reviewed and approved the following vouchers: 2002 Voucher # 64 Town of Reading Treasurer $412,790.72 Nov. retiree payroll 65 Town of Reading Treasurer $ 2,588.25 Nov. admin. Salary 66 Hastings - Tapley Insurance $ 1,238.00 Admin Exp- Public Officials Bond 67 W.B. Mason Company $ 113.84 Admin Exp- Minute Book & supplies 68 Karen DeAngelis $ 80.99 Admin Exp -Petty Cash 69 Wellesley Retirement System $ 1,488.37 Trsf to other system (D. Sullivan) 70 Reading Co- operative Bank $ 6.50 Admin Exp- Deposit slips (Directly deducted from checking account on 10/22/02) 71 State- Boston Retirement System $ 12,561.74 Trsf to other system (A. Perkins) A transfer of $61,480.50, dated 10/31/02, was received from the Cambridge Retirement System for Elizabeth Dickinson, assistant director of the library. Cambridge will accept liability for 16 years and 7 months of service for the period 8/16/85- 9/5/02. The pension fund assessment payment of $825,300 was received from the Municipal Light Department on October 31, 2002. The Board discussed the actuarial projections from the Segal Company. The Board discussed a draft of the 'Procedures for Releasing Information About Town Employees." The Board made some changes and the administrator will revise the draft. The Board will vote on the revised procedures at the next meeting. The Board was notified that the appointment of Elizabeth Klepeis to the Reading Retirement Board expires on December 31, 2002. Wilfred Boudreau, Jr., a retired firefighter, passed away on November 12, 2002. He chose Option A at his retirement on June 24, 1988. Reading Retirement System - Items reviewed by the Board: General Ledger Trial Balance as of September 30, 2002 Bank Reconciliation for month ended September 30, 2002 PRIM - The Board postponed the review of the Monthly Account Statement and PRIT Fund Performance for Period Ending October 31, 2002 until the December meeting. The information was not received in time for this meeting.