HomeMy WebLinkAbout2013-12-10 Retirement Board Minutes1340
S OF THE READING RETIREMENT BOARD MEETING
W N CLERK Tuesday, December 10, 2013
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The Reading Retirement Board held a regular session meeting on December 10, 2013, in The Lower Level
Conference �`4�ifo Hftl,;eg, Massachusetts.
The meeting was called to order at 6:00 P.M. by Chairman Francis Driscoll in the presence of members Richard
Foley, Joseph Veno, Thomas Clough, and Board Administrator, Colleen Loughlin. Linda Bournival from KMS
Actuaries was also present to discuss the funding schedule breakout. Sharon Angstrom is still on maternity leave.
Richard stepped out of the meeting at 6:30 and returned at 7:00 pm.
SPECIAL ITEM
• Linda Bournival, KMS Actuaries, attended meeting to present various funding schedules to the Board.
MINUTES
• Regular session minutes for the October 22, 2013 meeting were signed by all board members.
• JOSEPH VENO moved to accept the November 25, 2013 special session minutes as written.
SECONDED BY: RICHARD FOLEY
VOTED: (3 -0 -1) ABSTAINED: THOMAS CLOUGH
• JOSEPH VEND moved to accept the November 26, 2013 regular session minutes as written.
SECONDED BY: RICHARD FOLEY
VOTED: (4 -0 -0) UNANIMOUS
• JOSEPH VENO moved to accept the November 5, 2013 special session minutes as written.
SECONDED BY: RICHARD FOLEY
VOTED: (3 -0 -1) ABSTAINED: THOMAS CLOUGH
• JOSEPH VENO moved to accept the November 5, 2013 executive session minutes as written.
SECONDED BY: RICHARD FOLEY
VOTED: (3 -0 -1) ABSTAINED: THOMAS CLOUGH
APPROVAL OF NEW MEMBERS, RETIREMENTS, TRANSFERS AND REFUNDS
APPROVAL OF MISCELLANEOUS ITEMS
APPROVAL OF INVOICES TO BE PAID
• JOSEPH VENO moved to approve the following warrant #AP 122013 totaling $706,375.22:
Commonwealth of Mass. $ 509.08 RHA Health Ins. Deductions
Commonwealth of Mass. $ 1,774.32 State Tax Deductions
Commonwealth of Mass. $ 216.66 Child Support
13 1
Internal Revenue Service
$
62,704.51
Reading Credit Union
$
34,017.00
Dec Retirement Allowances
$ 555,145.73
Town of Reading Treasurer
$
44,865.10
Town of Reading
$
164.12
Town of Reading Treasurer
$
5,172.94
The Graphics Shop
$
173.71
Kinsbury Press
$
154.12
Colleen Loughlin
$
42.85
Law Offices of Michael Sacco $ 1,357.90
Colleen Loughlin, Petty Cash $ 77.18
Federal Tax Deductions
Credit Union Deductions
Net Retiree Payroll
Hlth, Life, & Dental Ins. Deductions
Postage due to Town
December's Admin's Salary & Benefits
Admin Expense - Envelopes
Administrative Exp -I099R Forms
*Travel Exp — Auburn Conference
(Stoneham Reimbursement)
Legal Expense — L. Palermo & client
Memos
Administrative Expense — Postage
*Previous payment of $42.85 was paid on August warrant. Stoneham reimbursed for travel expense to
the Reading Retirement Board on 12/3/13.
SECONDED BY: RICHARD FOLEY
VOTED: (4 -0 -0) UNANIMOUS
INFORMATION /QUESTIONS /OTHER ITEMS
• Final notices for Affidavits were mailed to all retirees. All have been received.
• The next board meeting is scheduled for Tuesday, January 28, 2014 at 6:00 pm in the Lower Level
Conference Room.
MEMORANDUMS & LETTERS RECEIVED
OLD BUSINESS
OPEN SESSION FOR TOPICS NOT REASONABLY ANTICIPATED 48 FIRS IN ADVANCE OF
MEETING
ADJOURNMENT
• JOSEPH VENO moved to adjourn this open session at 7:45 P.M.
SECONDED BY: RICHARD FOLEY
VOTED: (4 -0 -0) UNANIMOUS
1342
Chairman, Francis P. Driscoll, 1" elected
Sharon M. Angstrom, Ex Officio
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Richar P. Foley, 1 S` appointed
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Vice Chairman, Joseph R. Veno, 2° elected
Thomas A. Clough, 2° 4Kpointed