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12 58 <br />MINUTES OF THE READING RETIREMENT BOARD MEETING <br />Tuesday, May 29, 2012 <br />The Reading Retirement Board held a regular session meeting on May 29, 2012, in The Lower Level Conference <br />Room, Town Hall, Reading, Massachusetts. <br />The meeting was called to order at 6:02 P.M. by Chairman Joseph Veno in the presence of members Richard <br />Foley, Gail LaPointe, Francis Driscoll, Thomas Clough, and Board Administrator, Colleen Loughlin. <br />MINUTES <br />• RICHARD FOLEY moved to accept the March 27, 2012 regular session minutes as written. <br />SECONDED BY: THOMAS CLOUGH <br />VOTED: (5 -0 -0) UNANIMOUS <br />• RICHARD FOLEY moved to accept the April 24, 2012 regular session minutes as written. <br />SECONDED BY: THOMAS CLOUGH <br />VOTED: (5 -0 -0) UNANIMOUS <br />APPROVAL OF NEW MEMBERS, RETIREMENTS, TRANSFERS AND REFUNDS <br />• RICHARD FOLEY moved to approve the following transfer of funds to other systems: <br />Ann Visconti To State Retirement <br />(School) <br />James Sullivan To Marblehead Retirement <br />(Recreation) <br />SECONDED BY: THOMAS CLOUGH <br />VOTED: (5 -0 -0) UNANIMOUS <br />$12,968.67 4 years and 7 months <br />$18,947.59 5 years and 0 months <br />• RICHARD FOLEY moved to approve the following retirement application: <br />Lynne Graham Paraprofessional 6/18/12 23 years, 8 mths Option A <br />(School) <br />SECONDED BY: THOMAS CLOUGH <br />VOTED: (5 -0 -0) UNANIMOUS <br />APPROVAL OF MISCELLANEOUS ITEMS <br />• RICHARD FOLEY moved to approve a 3% COLA increase for FY2013 which begins on July 1, 2012 and <br />ends June 30, 2013 on the first $12,000 of retirement benefit, which is reflected in the July 1, 2011 actuarial <br />valuation. <br />SECONDED BY: THOMAS CLOUGH <br />VOTED: (5 -0 -0) UNANIMOUS <br />