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2010-10-26 Retirement Board Minutes
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2010-10-26 Retirement Board Minutes
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1186 <br />MINUTES OF THE READING RETIREMENT BOARD MEETING <br />Tuesday, October 26, 2010 <br />The Reading Retirement Board held a regular session meeting on October 26, 2010, in The Lower Level <br />Conference Room Town Hall, Reading, Massachusetts. <br />The meeting was called to order at 6:00 P.M. by Chairman Joseph Veno in the presence of members Richard <br />Foley, Gail LaPointe, Thomas Clough, and Board Administrator, Colleen Loughlin. Francis Driscoll was not able <br />to attend. <br />SPECIAL ITEM <br />Paul Todisco, Senior Client Services Officer from the PRIM Board attended this meeting to discuss the <br />performance of the funds in PRIT. <br />MINUTES <br />• RICHARD FOLEY moved to accept the August 10, 2010 regular session minutes as written. <br />SECONDED BY: THOMAS CLOUGH <br />VOTED: (4-0-0) UNANIMOUS <br />• RICHARD FOLEY moved to accept the August 24, 2010 regular session minutes as written. <br />SECONDED BY: THOMAS CLOUGH <br />VOTED: (3-0-1) ABSTAINED: GAIL LAPOINTE <br />- APPROVAL OF NEW MEMBERS RETIREMENTS, TRANSFERS AND REFUNDS <br />• RICHARD FOLEY moved to approve the following new members: <br />Joseph Beninati, Jr. Van Driver Date of hire & membership -10/4/10 9%+2% <br />(Community Service) <br />Robert Drake Firefighter Date of hire & membership - 10/25/10 9% + 2% <br />(Fire) <br />SECONDED BY: THOMAS CLOUGH <br />VOTED: (4-0-0) UNANIMOUS <br />• RICHARD FOLEY moved to approve the following retirement application: <br />Ralph Coffill DPW - Water Dept 1/19/11 39 years, 3 mths Option C <br />(Superannuation) <br />SECONDED BY: THOMAS CLOUGH <br />VOTED: (4-0-0) UNANIMOUS <br />• - RICHARD FOLEY moved to approve final calculations for the following retirements approved by PERAC: <br />Nancy Smethurst Library 9/18/10 '25 years, 4 mths Option C <br />(Superannuation) Annuity: $ 3,549.24 <br />Pension: $10,194.12 <br />Yearly: $13,743.36 <br />Monthly: $ 1,145.28 <br />
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