HomeMy WebLinkAbout2001-07-18 Retirement Board Minutes761
The Reading Retirement Board held a meeting on JULY 18, 2001, in the Conference Room, Town Hall, Reading,
Massachusetts. The meeting was called to order at 7:00 A.M.
Minutes from the May 30, 2001 meeting were signed by the board members.
Minutes from the June 27, 2001 meeting were read and accepted.
Approved new membership:
Pamela Brown Elder/Human Services Administrator 6/18/01 9%
LorettaBeaird Clerk -DPW 7/16/01 9%
Approved refunds/transfers:
Russell J. Dean, Assistant Town Manager -6 years and 3 months -laid off on 6/30/01.
Total deductions and interest $23,005.47
Federal Income taxes withheld $4,601.09
Net Refund $18,404.38
Cheryl Joyce resigned 7/6/01 -2 years 1 month
Total deductions and interest $4,488.98 (less 100% interest $59.71)
Federal Income taxes withheld $885.85
Net Refund $3,543.42
Diane Boyd resigned 6/22/01 -11 years 4 months
Total deductions and interest $11,756.23
Federal Income taxes withheld $2,351.25
Net Refund $9,404.98
James Hodges transfer to State Retirement Board: 4 months $787.45
Kevin Aberle transfer to Middlesex County Board: 2 years 6 months $5,724.10
Approved retirement application for:
Joseph R. Veno Safety Officer 9/7/01 33 years 11 months Option A
Board member, Joseph Veno, abstained from this vote.
Approved retirement calculation/application for
Robert J. Moreschi Patrolman 7/13/01 32 years service Option B
Monthly Annuity $371.93
Monthly Pension $2,533.65
Monthly Allowance $2,905.58
Annual Allowance $34,866.9]
Reviewed and approved the following vouchers
2001 Voucher # 47
Town of Reading Treasurer
$ 386,607.10
retiree payroll
48
Town of Reading Treasurer
$ 1,980.39
July Admin salary
49
Diane Boyd
$ 9,404.98
refund
50
Town of Reading Treasurer
$ 2,351.25
20% taxes
51
State Board of Retirement
$ 787.45
Hodges - transfer
52
Russell Dean
$ 18,404.38
refund
53
Town of Reading Treasurer
$ 4,601.09
20% taxes
54
Cheryl Joyce
$ 3,543.42
refund
55
Town of Reading Treasurer
$ 885.8520%
taxes
56
Corporate Express
$ 12.78
6 -data binders
57
Middlesex County Ret. Board
$ 5,724.10
Aberle- transfer
58
West Group
$ 433.50
6 -Ch 32
59
Town of Reading
$ 2,500.00
FY02 banking,postage
762
76 J
Roberta P. Maillett has filed an appeal with the Contributory Retirement Appeal Board regarding the Reading
Retirement Board members vote of June 27, 2001 denying her a refund of her deductions and interest.
Valerie O'Brien has transferred from the position of Educational Assistant to the position of Guidance Secretary at
the High School starting 7/5/01. According to the current Secretaries' contract she will work 52 weeks a year, 37.5
hours per week during the school year and for the months of July and August she is able to work "flex hours ", which
is'no less than 20 hours per week with the Principal's approval. For the months of July and August 2001 she is
working 20 hours per week. She is currently not in the Reading Retirement System. The Board members voted to
accept her into the retirement system as of July 5, 2001.
Reviewed the buyback policy for members who were employed in another system but were not members of that
retirement system. The current Supplementary Regulations are satisfactory to the Board members.
As of July 9, 2001 Loretta Beaud is a full time Clerk in the DPW. She would like to buy back the 10 months service
(October 16, 2001 through July 9, 2001) when she was employed part time -30 hours per week. For those 10 months
she opted to enrolled in the deferred compensation plan, not Social Security. The total cost is $1,230.39 and she will
pay $25.00 per paycheck starting August 3, 2001. The board members approved this buyback.
Mr. Joseph Cummings has contacted PERAC and is planning to submit the required documents regarding his
disability retirement. Joseph Veno was not able to contact Mr. Murray Airhart. He will try again to contact him.
PERAC has requested information on the following 1l disability retirees regarding the amount of disability
retirement allowance they received in 2000 and the regular compensation they would have received had they
continued in service: Kevin Ryan, Gerald Powers, Richard Mullen, Charles Johnson, Malcolm Hubbard, John
Green, Bruce Donaghey, Joseph Cummings, Robert Buote, Richard Wood and Murray Airhart. These retirees have
reported earnings for 2000 in an amount that may result in an adjustment to their disability retirement allowance.
Meeting adjourned 7:57 A.M.
Present: Boissoneau, Foley, Klepeis, Seferian, Veno and Martin.
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