HomeMy WebLinkAbout2001-06-27 Retirement Board Minutes757
The Reading Retirement Board held a meeting on JUNE 27, 2001, in the Conference Room, Town Hall,
Reading, Massachusetts. The meeting was called to order at 7:05 A.M.
Minutes from the April 25, 2001 meeting were signed by the board members.
Minutes from the May 30, 2001 meeting were read and accepted.
Approved new membership
Victoria E. Avery Dispatcher
Town of Reading Treasurer
5/29/01 9%
Daniel T. Leccese School Maintenance
6/4/01 9%
Thomas F. Davis RMLD
6/18/01 9%
Approved refunds /transfers:
$9,571.73
refund
Robert Bugden worked for Human Services for 7 years and 8 months and resigned as of 6/8/01.
Total deductions and interest
$12,401.39
(less 50% interest $436.73)
Federal Income taxes withheld
$2,392.93
$ 28.68
Net Refund
$9,571.73
Brookline Retirement Board
Sophie Beninati resigned 10/17/97
Total deductions and interest (through 9/30/99) $6,548.64 (less 50% interest $506.76)
Federal Income taxes withheld $1,208.38
Net Refund $4,833.50
William O'Brien
Total deductions and interest
Federal Income taxes withheld
Net Refund
resigned 6/14/01
$7,795.51
$1,512.67
$6,050.68
(less 100% interest $232.16)
Approve PERAC approved retirement calculation for:
Margaret K. Plansky Reading Housing Authority Director 4/19/01 Option C
Monthly Annuity $375.15
Monthly Pension $1,234.98
Monthly Allowance $1,610.13
Annual Allowance $19,321.56
PERAC approved a $6,000 Section 101 benefit for Norma McSheehy, the beneficiary of Herbert
McSheehy, who passed away on April 26, 2001.
Reviewed and approved the following vouchers
2001 Voucher # 38
Town of Reading Treasurer
$378,103.54
deductions $71,548.44 /net $306,555.10
39
Robert Bugden
$9,571.73
refund
40
Town of Reading Treasurer
$2,392.93
Bugden - federal taxes
41
Elizabeth W. Klepeis
$ 28.68
hearing- Boston
42
Brookline Retirement Board
$ 155.53
3(8)C reimb.
corrected 43
Sophie Beninati
$ 4,833.50
refund
corrected 44
Town of Reading Treasurer
$ 1,208.38
Beninati - federal taxes
45
William OBrien
$ 6,050.68
refund
46
Town of Reading Treasurer
$ 1,512.67
OBrien- federal taxes
Carolyn Martino bought back 5 years of creditable service during the period she was employed in North
Reading. Middlesex County will not accept liability for non - contributing employment service of non-
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members. The board voted to review the buyback policy for members from other systems who were not
in the retirement system.
Phillip Cail of the RMLD would like to buy back his first 6 months of service in which retirement
deductions were not withheld (2/7/72 through 8/7/72). The total cost of the buyback, with interest
through June 30, 2001, is $643.67. The board approved the buyback.
Roberta Maillett is resigning from her full time position as a secretary at the RMHS as of July 6, 2001.
She has 2 years and 6 months of creditable service. She has accepted a position working 20 hours a week
at the RMLD starting August 20, 2001. She would like a refund of her deductions. The board denied her
request for a refund due to the fact she will have a continuation of service. The RMLD will be instructed
to withhold deductions at 9 %.
A hearing was held on May 30, 2001 at DALA regarding the group classification for Field Technician
Frederick Jackson. Elizabeth Klepeis, John Gannon and Joseph Delaney attended. The opinion will be
sent within 60 days.
Paul K. Sheridan did not submit his 2000 Annual Statement of Earnings to PERAC. His pension has
been suspended since July 1997 for not submitting prior Annual Statement of Earnings.
Mr. Joseph Cummings and Mr. Murray Airhart have not responded to PERAC's request for any medical
information since their disability retirement became effective. Their failure to contact PERAC after this
second request "shall result in their allowances being terminated ". Rosamond Martin will try to contact
Mr. Cummings and Joseph Veno will try to contact Mr. Airhart.
The board members approved the Affidavit that is being sent out to retirees on September 28, 2001.
PERAC's internal nurse case manager has determined that disability retirees Gerald Hoyt, Steven Granelli
and Chester Thurston are unable to perform the essential duties of their jobs.
Reading total assets in the PR1T Fund through 5/31/01 was $59,065,266.67
Meeting adjourned 7:50 A.M.
Present: Foley, Klepeis, Seferian, Veno and Martin.
Henry J. Boissoneau, I ' elected
Richard P. Foley, Ex Officio
W
Joseph R. Vino, 2' elected
Daniel B. Seferian, 2° aptlinted
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