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C <br />The Reading Contributory Retirement Board held a meeting on NOVEMBER 22, 2000, Conference wn <br />~ ` Hall, Reading, Massachusetts. The meeting. was called to order at 7:30 A.M. R <br />RL 11G, MASS. <br />Minutes from the October 25, 2000 meeting were read and accepted. <br />Minutes from the September 20, 2000 meeting were signed by the board members. 2001 NEAR 26 P 4° o <br />Approved new membership: <br />Sylvia Vaccaro 11/13/00-RMLD-Customer Assistant 9% <br />Approved refunds/transfers: <br />Francis Reen transfer to Middlesex 6 years and 9 months $ 17,451.34 <br />Kevin Valcour transfer to Middlesex 1 years and 6 months $ 5,193.71 <br />Jeanne Young transfer to Essex Cnty 0 years and 6 months $ 1,082.12 <br />Ronald Sebeika refund $ 800.50 <br />Reviewed and approved the following vouchers: <br />2000 Voucher # 58 <br />Town of Reading Treasurer <br />$ 365,510.45 <br />deductions $65,334.76/net $300,175.69 <br />59 <br />Town of Reading Treasurer <br />$ 2,985.22 <br />staff salary <br />60 <br />The Segal Company <br />$ 750.00 <br />7/1/00 update <br />61 <br />Middlesex Retirement System <br />$ 17,451.34 <br />F. Reen <br />62 <br />Middlesex Retirement System <br />$-5,193.71 <br />K. Valcour <br />63 <br />Essex County Retirement System <br />$ 1,082.12 <br />J. Young <br />64 <br />Ronald Sebeika <br />$ 800.50 <br />refund <br />Town of Reading Treasurer <br />$ 200.12 <br />IRS <br />Kathy Riley, at The Segal Company, has quoted $11,500 for the 2001 actuarial study and $1,000 for the 2002 <br />update. The board voted to have The Segal Company complete these studies. <br />Brackett & Lucas is the new firm that will be providing legal services to the Town of Reading. The Board voted to <br />contact the following 4 firms in January to make an appointment for an interview: Keegan, Werlin & Pabian (Ted <br />Cohen), Deutsch, Williams, Brooks, DeRensis, Hoolan & Drachman (Scott C. Merrill), Nicholas C. Posner and <br />Brackett & Lucas. <br />The Reading Retirement Board must 'designate a person to serve as Custodian of all records which the retirement <br />board holds' per the Supplemental Regulations. The board designated Rosamond Martin, the Retirement <br />Administrator. <br />Christopher Picco would like to buyback the 1 year and 5 months he worked in the Middlesex Sheriffs Office from <br />May 20, 1995 to October 20, 1996. He was a "temp" and did not contribute to Social Security, a deferred <br />compensation plan or the Middlesex Retirement System. The total cost is $2,571.52 and he will pay $25.00 per <br />paycheck for approximately 4 years. The Board voted to postpone their decision until the December meeting when <br />they will have more information. <br />An election notice will be posted in the December 'Town of Reading Employee Newsletter'. A notice to the retirees <br />will be sent with their December 15, 2000 retirement checks and another notice to the active members will be posted <br />at 8 locations and at the schools. <br />All affidavits have been returned. <br />PRIT Performance Summary for the period ending 9/30/00 (all returns are net): <br />1 year return 16.46% Calendar year to date 2.14% <br />3 year return 12.47% 3`d quarter -0.75% <br />5 year return 15.51% January through October 2000 net return: 1.11% <br />s <br />