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r <br />1 Lt <br />r <br />MINUTES OF THE READING RETIREMENT BOARD MEETING <br />Wednesday, October 24, 2007 R E- C E I V DK <br />The Reading Retirement Board held a regular session meeting on 0~qq~~ 6W ~ S The Lower Level <br />Conference Room Town Hall, Reading, Massachusetts. <br />The meeting was called to order at 6:05 P.M. by Chairman Joseph )oQ9tMprPse4e b members Gail <br />LaPointe, Richard Foley, Daniel Seferian, Francis Driscoll, and Board Administrator, Colleen Loughlin. Also <br />present were Kathy Riley from Segal Company and 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 submitted his Annual Statement of <br />Earned Income to PERAC in April 2007. He sent the information via certified mail with return receipt. Joan <br />Arsenault signed for the document on April 13, 2007. The Board Administrator will follow up with PERAC to <br />see if they have on file. If not, a copy will be sent to PERAC for their review. <br />INFORMATION/QUESTIONS/OTHER ITEMS <br />• Kathy Riley from The Segal Company gave a report on the results of the July 1, 2007 actuarial valuation. <br />MINUTES <br />• Regular session minutes for the August 22, 2007 meeting were signed by all board members, <br />• FRANICS DRISCOLL moved to accept the September 26, 2007 regular session minutes as written. <br />SECONDED BY: RICHARD FOLEY <br />VOTED: (5-0-0) UNANIMOUS <br />APPROVAL OF NEW MEMBERS, RETIREMENTS, TRANSFERS AND REFUNDS <br />• FRANCIS DRISCOLL moved to approve the following new members: <br />Nancy Giannone School - SPED Date of hire - 7/13/95 5% <br />(Paraprofessional) Funds to be transferred from MTRB <br />The Board has collected the required contributions for the service time (8/28/07 - 9/21/07) - time she was <br />suppose to be in the retirement system. <br />Larry Ramdin Health <br />(Health Services Administrator) <br />Date of hire -10/1/07 9%+2% <br />Funds to be transferred from Newton <br />SECONDED BY: RICHARD FOLEY <br />VOTED: (5-0-0) UNANIMOUS <br />• FRANCIS DRISCOLL moved to approve the following transfer of funds to other systems: <br />Tricia Richard To Marlborough Retirement $19,199.82 4 years, 0 months, & 24 days <br />'(Fire) <br />SECONDED BY: RICHARD FOLEY <br />VOTED: (5-0-0) UNANIMOUS <br />