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875 <br />The Reading Retirement Board held a meeting on February 25, 2004, in the Accounting and Finance Department Office, <br />Town Hall, Reading, Massachusetts. The meeting was called to order at 6:05 P.M. <br />Minutes from the December 16, 2003 meeting were signed by all board members. <br />Minutes from the January 28, 2004 meeting were read and accepted by all board members. <br />Approved new members: <br />Fire Captain 1/23/04 <br />32 years, 6 months Option A <br />. Superannuation <br />Joseph Donovan <br />School custodian 2/02/04 <br />9%+2% <br />Pension <br />Richard Ward <br />Asst Facilities Dir 2/02/04 <br />9%+2% <br />$54,391.92 <br />Paul Dalton <br />Firefighter 2/17/04 <br />9 %+ <br />2% (Trsf from Winchester Retirement) <br />Approved PERAC approved retirement <br />Stephen Ballou <br />Fire Captain 1/23/04 <br />32 years, 6 months Option A <br />. Superannuation <br />Annuity <br />$ 6,172.44 <br />Pension <br />$48.219.48 <br />Yearly <br />$54,391.92 <br />Monthly <br />$ 4,532.66 <br />Approved retirement application: <br />Michael McGuinness <br />Inactive (RMLD) 2/19/04 <br />13 years 9 months Option A <br />Superannuation <br />Approved refund: <br />Joseph Lacerda <br />Resigned 12/24/03 <br />6 months <br />(DPW -Civil Eng) <br />Total deductions and interest <br />$21523.24 <br />Less 100% interest <br />$ 0.00 <br />Less 20% Federal income taxes <br />$ 0.00 <br />Net refund (rollover to IRA) <br />$2,523.24 <br />Reviewed and approved the following vouchers: <br />2004 Voucher # 08 Town of Reading Treasurer $451,702.97 Feb retiree payroll <br />09 Town of Reading Treasurer $ 2,866.05 Feb admin. salary <br />10 Citizens Investment Services $ 2,523.24 Refund- Lacerda (rollover) <br />FBO Joseph A. Lacerda <br />11 Section 3(8)(c) Reimbursements $ 15,685.43 Rmb to other systems (various) <br />12 Corporate Express $ 59.66 Supplies for election <br />Michael Reardon, Senior Client Services Officer from the PRIM Board, could not attend the February board meeting as <br />planned. He will attend the March board meeting to discuss the performance of the funds in PRIT through the period <br />ending December 31, 2003 as well as the returns received by the Reading Retirement System since inception. <br />Approved request from eligible member to purchase military service for creditable service: <br />Joseph Donovan Army 10/14/66 - 10/13/69 3 years <br />The board administrator will send a letter to the Town Moderator on February 26 to notify him that the board will be voting <br />on granting a COLA increase at the April meeting. <br />On January 29, 2004 PERAC's Disability Unit sent a letter requesting current information on three disability retirees, <br />Domenic Ricci, Donald Stead, and Kevin Ryan. They will be scheduled for evaluations in the next three months to <br />determine if they are able to return to service. <br />On February 18, 2004 PERAC notified the board that Donald Stead was evaluated for possible return to service and <br />PERAC's internal Nurse Case Manager determined that he is unable to perform the essential duties of his job. The board is <br />not required to take any action at this time. <br />The Town Counsel Review Committee. is reviewing the current model and provider of legal services to the Town. To <br />support this effort the members of this retirement board have been asked for their opinions and input relative to the legal <br />services under the next contract. <br />