HomeMy WebLinkAbout2002-11-20 Retirement Board Minutes835
The Reading Retirement Board held a meeting on NOVEMBER 20, 2002, in the Accounting and Finance Department
MU, Town Hall, Reading, Massachusetts. The meeting was called to order at 6:00 P.M.
Minutes from the September 25, 2002 meeting were signed by all board members.
Minutes from the October 23, 2002 meeting were read and accepted by all board members.
Approved transfers to other systems
Donald Sullivan
To Wellesley Retirement System
$ 1,488.37
6 months
Alan K. Perkins
To State- Boston Retirement Sys.
$12,561.74
3 years
Reviewed and approved the following
vouchers:
2002 Voucher # 64
Town of Reading Treasurer
$412,790.72
Nov. retiree payroll
65
Town of Reading Treasurer
$ 2,588.25
Nov. admin. Salary
66
Hastings - Tapley Insurance
$ 1,238.00
Admin Exp- Public Officials Bond
67
W.B. Mason Company
$ 113.84
Admin Exp- Minute Book & supplies
68
Karen DeAngelis
$ 80.99
Admin Exp -Petty Cash
69
Wellesley Retirement System
$ 1,488.37
Trsf to other system (D. Sullivan)
70
Reading Co- operative Bank
$ 6.50
Admin Exp- Deposit slips
(Directly deducted from checking account on 10/22/02)
71
State- Boston Retirement System
$ 12,561.74
Trsf to other system (A. Perkins)
A transfer of $61,480.50, dated 10/31/02, was received from the Cambridge Retirement System for Elizabeth Dickinson,
assistant director of the library.
Cambridge will accept liability for 16
years and 7 months of service for the period 8/16/85-
9/5/02.
The pension fund assessment payment of $825,300 was received from the Municipal Light Department on October 31,
2002.
The Board discussed the actuarial projections from the Segal Company.
The Board discussed a draft of the 'Procedures for Releasing Information About Town Employees." The Board made some
changes and the administrator will revise the draft. The Board will vote on the revised procedures at the next meeting.
The Board was notified that the appointment of Elizabeth Klepeis to the Reading Retirement Board expires on December
31, 2002.
Wilfred Boudreau, Jr., a retired firefighter, passed away on November 12, 2002. He chose Option A at his retirement on
June 24, 1988.
Reading Retirement System - Items reviewed by the Board:
General Ledger Trial Balance as of September 30, 2002
Bank Reconciliation for month ended September 30, 2002
PRIM - The Board postponed the review of the Monthly Account Statement and PRIT Fund Performance for Period Ending
October 31, 2002 until the December meeting. The information was not received in time for this meeting.
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Memos received:
PERAC - Memo #40 /2002, dated October 24, 2002 - Public Hearing and Comment Period on Proposed
Regulations - regarding Retirement Board Travel.
PERAC - Memo #41/2002, dated October 25, 2002 - Hedge Fund Investment Guidelines.
PERAC - Memo #42 /2002, dated October 25, 2002 - Forfeiture of Retirement Allowance for Dereliction of Duty
by Members - temporary order to protect the systems requiring all retirement boards to act to assure that the
provisions of G.L. c. 32, § 15 have been carried out where appropriate. All boards must act immediately to
comply with this order.
PERAC - Memo # 43/2002, dated October 25, 2002 - Heart, Lung, and Cancer Presumption Guidelines and
Certificates - Newly revised guidelines and certificates effective November 1, 2002.
PERAC - Memo # 44/2002, dated October 29, 2002 - New Disability Pension Fraud Poster.
Retired State County and Municipal Employees Association - Local Early Retirement Incentive update as of
November 1, 2002.
Massachusetts Association of Contributory Retirement Systems, Inc. - DALA's decision on vehicle use credit on
November 7, 2002.
Meeting adjourned at 7:17 P.M.
Present: Boissoneau, Foley, Klepeis, Veno, Seferian and DeAngelis
HenryJ.,B" ' soneau, 1 elected
Richard P. Foley, Ex Offi 'o