2004-03-24 Retirement Board Minutes

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877 The Reading Retirement Board held a meeting on March 24, 2004, in the Accounting and Finance Department Office, Town Hall, Reading, Massachusetts. The meeting was called to order at 6:03 P.M. Michael Reardon, Senior Client Services Officer from the PRIM Board, attended this board meeting to discuss the performance of the funds in PRIT. Minutes from the January 28, 2004 meeting were signed by all board members. Minutes from the February 25, 2004 meeting were read and accepted by all board members. Approved PERAC approved retirement: Michael McGuinness RMLD- Inactive Superannuation Approved retirement application: Robert Cormier RMLD Superannuation 2/19/04 13 years, 9 months Option A Annuity $ 4,514.16 Pension $15,513.00 Yearly $20,027.16 Monthly $ 1,668.93 4/19/04 34 years 6 months Option A The board members approved the board administrator's request to attend the Spring Seminar, hosted by the Middlesex Retirement System on April 5 -7, 2004. The cost is $50.00. Reviewed and approved the following vouchers 2004 Voucher # 13 Town of Reading Treasurer 14 Town of Reading Treasurer 15 Section 3(8)(c) Reimbursements 16 Town of Reading Treasurer $ 85.35 (stamps for the election) 17 The Graphics Shop 18 Middlesex Retirement System $451,424.91 Mar retiree payroll $ 2,866.05 Mar admin. salary $ 4,751.33 Rmb to other systems (Quincy) $ 222.00 Reimb Town for petty cash $ 85.35 Ballot envelopes for election $ 50.00 Middlesex Retirement seminar The check that was made payable to Citizens Investment Services in February for Joseph Lacerda's rollover was voided and a replacement check was issued to Fisery Securities, Inc. as instructed by the letter dated March 2, 2004 from Citizens Investment Services Corp. An election was held on March 23, 2004 for the second member of the Reading Retirement Board. Joseph Veno and Francis Driscoll were the candidates. The official count was Joseph Veno 187 votes and Francis Driscoll 86 votes so Joseph Veno will continue as the second elected member for another term which will run from April 1, 2004 to March 31, 2007. Medical records for William Hitchcock, accidental disability retiree who passed away in November 2003, have been received. The board was going to discuss whether or not his spouse, Lillian, is eligible for an accidental death benefit. The board voted to table this issue until the board administrator could get a letter from Mr. Hitchcock's primary care physician explaining any correlation between the cause of his death and the reason for which he retired. Based upon the criteria the board laid out at the Feb meeting, Nicholas Poser has been hired as the attorney to handle Robert Toussaint's accidental disability retirement matter. Attorney Nicholas Poser suggested, after reading the medical records of Mr. Toussaint, that the board administrator request additional authorization forms (to use or disclose protected health information) from Mr. Toussaint. One form is to be requested for a doctor in the medical records who was not listed on the member's application and for which there was no authorization form. Other forms are to be requested for any physician or hospital that also were not listed on the member's application. This issue is on hold while the board awaits the additional authorization forms. The board voted unanimously to rescind the prior vote of the October 29, 2003 board meeting to send a request to PERAC to convene a medical panel for Robert Toussaint once the board has received all signed authorization forms and all medical records associated with these forms. Andrea Fitzpatrick from the RMLD has filed an application for an accidental disability retirement.