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MINUTES OF THE READING RETIREMENT BOARD MEETING <br />Wednesday, July 23, 2008 RECEIVED <br />The Reading Retirement Board held a regular session meeting on July 23, 2008, in The l tK erence <br />Room, Town Hall, Reading, Massachusetts. ` <br />The meeting was called to order at 6:05 P.M. by Chairman Joseph Veno in the zoss a 10 in mtZis3jai1 <br />LaPointe, Francis Driscoll, and Board Administrator, Colleen Loughlin. Richard Foley and Daniel Seferian were <br />not able to attend. Also present was Paul Sheridan. <br />HEARING <br />A hearing was held upon the request of Retired Police Officer Paul Sheridan. A "Notification of Termination" <br />has been received from PERAC regarding Paul Sheridan for failure to file the required Annual Statement of <br />Earned Income. Mr. Sheridan attended this meeting to explain that he had not submitted his paperwork to <br />PERAC. The Board agreed to give Mr. Sheridan 1 month to comply before terirfdnating his health insurance. The <br />Board Administrator will follow up with PERAC to see if they have his statement on file. <br />MINUTES <br />• Regular session minutes for the May 28, 2008 meeting were signed by all board members who were present. <br />Minutes from the June 24, 2008 regular session to be read and approved by all board members, except <br />Richard Foley and Francis Driscoll who were not present. <br />Tabled until next meeting <br />APPROVAL OF NEW MEMBERS RETIREMENTS TRANSFERS AND REFUNDS <br />• FRANCIS DRISCOLL moved to approve the following new member: <br />Lori Miller School -Central Date of hire -12/7/98 9%+2% <br />Date of membership - 7/1/08 <br />The member should have been in the Reading Retirement System as of 7/1/08. The Retirement Board did not <br />receive the PAF until 7/22/08.. Since the payroll department was able to collect retirement` deductions from <br />payroll w/e 7/25/08, the Board only needs to collect retirement deductions for period 7/1/08-7/11/08 in the <br />amount of $140.89. The board agreed to allow the member to make up to 3 equal payments. <br />SECONDED BY: GAIL LAPOINTE <br />VOTED: (3-0-0) UNANIMOUS <br />• FRANCIS DRISCOLL moved to approve the following refund of accumulated deductions: <br />Brian Lees Resigned 6/16/08 <br />(RMLD) Total deductions & interest <br />Less 50% interest <br />Net refund (Rollover to IRA) <br />SECONDED BY: GAIL LAPOINTE <br />VOTED: (3-0-0) UNANIMOUS <br />8 years, 8 months <br />$52,919.82 <br />$ 604.26 <br />$52,315.56 <br />