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Home My WebLink About2016-07-26 Retirement Board MinutesOFA �c Town of Reading Meeting Minutes Board - Committee - Commission - Council:t, ^ ref Contributory Retirement Board _. Date: 2016-07-26 Time: 4:05 PM HII DEC I I Building: Reading Retirement Administration Location: Conference Room Address: 2 Haven Street Unit 307 Session: Open Session Purpose: General Version: Final Attendees: Members - Present: Vice -Chairman Thomas Clough, Sharon Angstrom, Nancy Heffernan, Louis deBrigard Jr.. Members - Not Present:. Joe Veno Others Present: Attorney Richard Fitpatr ick, Rachid Kourbali, Colleen Loughlin, Rebecca Furilla Minutes Respectfully Submitted By: Elaine Kelly Topics of Discussion: SEE ATTACHED Page 1 1 C 1489 MINUTES OF THE READING RETIREMENT BOARD MEETING Tuesday, July 26, 2016 The Reading Retirement Board held a regular session meeting on July 26, 2016, in The Conference Room, at 2 Haven Street, Unit 307, Reading, Massachusetts.. 1 The meeting was called to order at 4:05 P.M. by Vice -Chairman Thomas Clough in the presence of members Sharon Angstrom, Nancy Heffernan, Louis deBrigard, Jr., Attorney Michael Sacco, Attorney Richard Fitzpatrick, Rachid Kourbali, and Board Administrators, Colleen Loughlin and Rebecca Furilla. Joseph Verio was not present EXECUTIVE SESSION (4:05) • SHARON ANGSTROM moved to enter into executive session for the purpose of evidentiary hearing regarding the accidental disability application of Rachid Kourbali and to return to open session to continue the meeting. Z . . ` . SECONDED BY: NANCY HEFFERNAN VOTED: (4-0-0) UNANIMOUS ca- c) : C --) o ; OPEN SESSION (4:43 PM) ` . - C, _ r- mow, �CD, APPROVAL OF MISCELLANEOUS ITEMS �- • LOUIS DEBRIGARD, JR. moved to offer unlimited sick leave for Retirement emoyees until the Board has a formal policy in place. Will be subject to a monthly review by the Board. ' SECONDED BY: NANCY HEFFERNAN VOTED: (4-0-0) UNANIMOUS • NANCY HEFFERNAN. moved to hire Carol Roberts for $30/hour up to a maximum of 100 hours to help create a policy for the Board. SECONDED BY: VOTED MINUTES SHARON ANGSTROM (4-0-0) UNANIMOUS • Minutes from the,December 1, 2015 executive session meeting were signed by"all board members, except Thomas Clough who was not present. • Minutes from the April 26, 2016 executive session meeting were signed by all board members, 4 except Sharon Angstrom who was not present. J i 1490 • Minutes from the May 24, 2016 regular session were signed by all board members, except for Joe Veno who was not present. • Minutes from the June 14, 2016 special meeting were signed by all board members, except Thomas Clough and Sharon Angstrom, who were not prersent. • SHARON ANGSTROM moved to accept the June 21, 2016 regular session minutes. SECONDED BY: LOUIS DEBRIGARD, JR. VOTED: (3-0-1) ABSTAINED:, THOMAS CLOUGH APPROVAL OF NEW MEMBERS, RETIREMENTS, TRANSFERS AND REFUNDS • SHARON ANGSTROM moved to approve the following new members: Alan Brussard Computer Date of hire -6/20/16 9% + 2% Gr. I (School) Technician Date of membership — 6/20/16 Matthew Knowles Computer Date of hire -6/13/16 9% + 2% Gr. I (School) Technician Date of membership — 6/13/16 Patricia Cameron Staff Acct. Date of hire -6/16/16 9% + 2% Gr. I (RMLD) C Date of membership — 6/16/16 Robert Frisiello Control Room Date of hire -6/16/16 9% + 2% Gr. 1 (RMLD) Operator Date of membership — 6/16/16 i Shawn Bohannon " Laborer Date of hire -6/22/15 9% + 2% Gr. I (Water/Sewer) Date of membership — 6/27/16 Domenic Maida Laborer Date of hire -8/10/15 9% + 2% Gr. I (Water/Sewer) Date of membership — 6/27/16 Kevin Cabuzzi Asst.', Facilities Date of hire -7/5/16 9%+2% Gr. I (Facilities) Director Date of membership — 1/10/05 (Transfer from State-prev. worked in Reading) Michele Zellen Dispatcher Date of hire -7/18/16 9%+2% Gr. I (Police) Date of membership — 2/25/14 (Transfer from Peabody) Kevin Edmonds Dispatcher Date of hire -7/18/16 9% + 2% Gr. I (Police) Date of membership — 7/18/16 (possible eligible to purchase non -membership) 9 SECONDED BY: NANCY HEFFERNAN VOTED: (4-0-0) UNANIMOUS SHARON ANGSTROM moved to approve the following retirements approved by PERAC: Ronan Laskey Water/Sewer (Superannuation) Charles Helmka RMLD-Lineman (Accidental Disability) SECONDED BY: NANCY HEFFERNAN VOTED: (4-0-0) UNANIMOUS 5/19/16 28 years, 0 months Option B Annuity: $ 6,808.08 Pension: $17,662.44 Yearly: $24,470.52 Monthly: $ 2,039.21 1/1/15 11 years, 10 months Option B Annuity: $ 5,954.16 Pension: $59,239.20 Yearly: $66,014.88 Monthly: $ 5,501.21 SHARON ANGSTROM moved to approve the following transfer of funds to other systems: Edward Wilkins Jr. To Worcester Reg. Ret.Board $102.384.96 28yrs, 10 months (School Facilities) Edward Hudson To Belmont Retirement Board . $3,820.77 11 yrs, 0 months (Police - Dispatcher) SECONDED BY: NANCY HEFFERNAN VOTED: (4-0-0)__ UNANIMOUS APPROVAL OF INVOICES TO BE PAID • SHARON ANGSTROM moved to approve the following warrant #AP072016 totaling $1,064,474.82: Commonwealth of Mass. $ 388.21 RHA Health Ins. Deductions Commonwealth of Mass. $ 1,783.13 State Tax Deductions Commonwealth of Mass. $ 1,684.35 Child Support Internal Revenue Service $ - 80,734.66 Federal Tax Deductions Reading Credit Union $• 40,524.00 Credit Union Deductions July Retirement Allowances $ 759,157.42 Net Retiree Payroll Town of Reading Treasurer $ 53,338.73 Hlth, Life, & Dental Ins. Deductions Town of Reading Treasurer $ 14,262.23 July Staff Salary & Benefits Law Offices of Michael Sacco Canon Financial Services GWT Realty RMLD National Grid MIIA Belmont Retirement Board Worcester Regional Ret Board Colleen Loughlin, Petty Cash Patricia Shields Internal Revenue Service $ 1,882.00 $ 168.48 $ 2,800.00 $ 97.33 $ 23.10 $ 316.22 $ 3,820.77 $ 102,384.96 $ 59.72 $ 846.02 $ 94.00 Medical Records Associates $ 109.49 SECONDED BY: LOUIS DEBRIGARD, JR. VOTED: (4-0-0) UNANIMOUS INFORMATION/QUESTIONS/OTHER ITEMS 1492 Legal Expense -Miscellaneous Service Contract - Copier Rent Admin Expense - Electric Admin Expense — Heat/Gas Admin Expense -Worker's Compensation Transfer to Other System. -Edward Hudson Transfer to Other System - E. Wilkins Jr Administrative Expense — Postage Partial Refund to Member — erroneous deductions Refund to Member — Federal Taxes (P. Shields) Medical Records — Ronan Laskey • Retiree Paul Sheridan received a "Notification of Termination" from PERAC for failure to file their 2015 Annual Statement of Earned Income. The Board Administrator sent a letter to Mr. Sheridan regarding this issue. No response from Mr. Sheridan. • Gael Desmond who worked for the DPW Administration and retired on May 14, 1999, passed away on July 8, 2016. She chose Option A at her retirement. • Received MIIA Property and Casualty Group, Inc. Membership Agreement • A COLA reimbursement of $76,277.43 from the State for the period 1/1/16-6/30/16 was received on 7/5/16. • ESS (Employee Self -Service) Portal through PTG. Board would like to schedule a demonstration with ESS Portal at the next board meeting. • Copies of the following Reading Retirement Board reports were emailed for review: The PRIT fund's monthly statement & fund performance for period ending June 30, 2016. General Ledger Trial Balance as of June 30, 2016. Cash Receipts, Adjustments, and Disbursements as of June 30, 2016 Bank Reconciliation for the month ending June 30, 2016. Reading Co-op Bank Statement for the month ending June 30, 2016. MMDT Bank Statement for the month ending June 30, 2016. • The next board meeting is scheduled for Tuesday, August 23, 2016 at 5:00 pm in the Conference Room at 2 Haven Street, Unit 307,,Reading. 1 4.9 3 MEMORANDUMS & LETTERS RECEIVED PERAC Memo #18/2016 --Mandatory Retirement Board member Training -3rd Quarter 2016 PERAC Memo #19/2016—COLA increase for Supplemental' Dependent Allowance .Paid to Accidental Disability Retirees and Accidental Death Survivors PERAC Memo. #20/2016—Reinstatement-of Service under G.L.Ch. 32 & 105 OLD & NEW BUSINESS • At the June 21, 2016 meeting the board requested more information on the services that PBI provided to the retirement system. Administrator Assistant reached out to Boards using PBI Research Services to get some input on the service that PBI provides for them. PBI specializes in protecting retirement funds by utilizing resources outside of the typical state and SSA death records through a data base system that -is compatible with PTG. DISCUSSION: Board would like to set up a demonstration with PBI services at the next board meeting. • Discussed whether the Board could determine if Linda Perry resigned or was terminated. Member is requesting a refund and was not clear whether member resigned or was terminated. The only record in her file was a letter from the Retirement Board requesting her supervisor to suspend Linda due to absence of proper physical being taken in regard to her employment with the Town of Reading; therefore the Board agreed that to apply termination when calculating interest on the refund of accumulated deductions. OPEN SESSION FOR TOPICS NOT REASONABLY ANTICIPATED 48 HRS IN ADVANCE ADJOURNMENT • SHARON ANGSTROM moved to adjourn this open session at 6:30 P.M. SECONDED BY: NANCY HEFFERNAN VOTED: (4-0-0) UNANIMOUS Chairman, Joseph R. Veno, 2"° elected Sharon M. Angstrom, Ex Offici _ Na'aejJ. Heff�qiaj, 1" appoifited G� F Vice Chairman, Thoma Clough, 2" appointed Louis E. deBr'tard, 3r., 1St elected 0