The URL can be used to link to this page

Home My WebLink About2016-09-27 Retirement Board MinutesO N FR - 4 / r. y Town of Reading Meeting Minutes .j i .;=L•r.;.1 `i i co TOWN CL..RF 1 Board - Committee - Commission - Council: Contributory Retirement Board Zall DEC 1 I P t: 441 Date: 2016-09-27 Time: 5:06 PM Building: Reading Retirement Administration Location: Conference Room Address: 2 Haven Street Unit 307 Session: Open Session Purpose: General Version: Final Attendees: Members - Present: Chairman Joseph Veno, Thomas Clough, Sharon Angstrom, Nancy Heffernan, Louis deBrigard Jr. Members - Not Present: Others Present: Colleen Loughlin, Rebecca Furilla, Joseph Belmonte Minutes Respectfully Submitted By: Elaine Kelly Topics of Discussion: SEE ATTACHED Page 1 1 1500 MINUTES OF THE READING RETIREMENT BOARD MEETING Tuesday, September 27, 2016 The Reading Retirement Board held a regular session meeting on September. 27, 2016, in The Conference Room, at 2 Haven Street, Unit 307, Reading, Massachusetts. The meeting was called to order at 5:06 P.M. by Chairman Joseph Veno in the presence of members Thomas Clough, Sharon Angstrom, Nancy Heffernan, Louis deBrigard, Jr., and Board Administrators, Colleen Loughlin and Rebecca Furilla. Joseph Belmonte was also present. SPECIAL ITEM —+ ca CD • Joseph Belmonte attended the meeting to request that the Board allow him to purchase hxs--' veteran service. He was given a notice in 2007 that his 10 year anniversary date waCl cor;ia�; up and based on the Board's supplemental regulations, if the member has not ki;gun payback by his 10`x' year as a member, then he must begin payroll deductions, make -ft lump - sum payment or notify the Reading Retirement Board in writing of his decision. to pt out of the program. In 2012 he addressed the Board asking for another opportunity to purchase his veteran service stating he did not receive the letter dated in 2007. At the October 23, 2012 Board Meeting, the Board voted to allow Mr. Belmonte to purchase his 4 years of military service. He is now asking the Board again to allow him to purchase his veteran service since he did not do so when he received a second opportunity in 2012. • LOUIS DEBRIGARD, JR. moved to table decision to approve/deny Joseph Belmonte's request to purchase his veteran service until research has been done to determine why the supplemental regulation was created. SECONDED BY: NANCY HEFFERNAN VOTED: (5-0-0) UNANIMOUS MINUTES • LOUIS DEBRIGARD, JR. moved to accept August 23, 2016 regular session minutes, except Thomas Clough and Sharon Angstrom who were not present. SECONDED BY: NANCY HEFFERNAN VOTED: (3-0-2) ABSTAINED: THOMAS CLOUGH, SHARON ANGSTROM 1501 • LOUIS DEBRIGARD, JR. moved to accept July 26, 2016 regular session minutes, except Joseph Veno who was not present. SECONDED BY:, SHARON ANGSTROM VOTED: (4-0-1) ABSTAINED: JOSEPH VENO • LOUIS DEBRIGARD, JR. moved to accept July 26, 2016 executive session minutes, except Joseph Veno.who was not present. SECONDED BY: 'SHARON ANGSTROM VOTED: (4-0-1) ABSTAINED: JOSEPH VENO APPROVAL OF NEW MEMBERS,. RETIREMENTS, TRANSFERS AND REFUNDS • LOUIS DEBRIGARD, JR. moved to approve the following new members: Gail Dowd Director of Finance Date of hire & membership—,8/25/16 9% + 2% Gr. 1 (Schools) Stacy Scouten (School) . Tracy Schultz (RMLD) SECONDED BY VOTED: Secretary' Date of hire — 8/22/16 9% + 2% Gr. 1 Date of membership — 9/29/14 (Transfer from Melrose) Executive Secretary Date of hire & membership -9/13/16 9% + 2% Gr. I SHARON ANGSTROM (5-0-0) UNANIMOUS • LOUIS' DEBRIGARD, JR. moved to approve the following retirements approved by PERAC: Kenneth Evans RMLD 7/30/16 27 years, 2 mths Option B (Superannuation) Annuity: $ 17,3.91.48 - Pension: $ 59,533.56 Yearly: $ 76,925.04 Monthly: $ 6,410.42 1502 Yeri Castellanos School 7/16/16 15 years, 9 mths Option A (Superannuation) Annuity: $ 6,842.52 Pension: $ 10,265.40 Yearly: $ 17,107.92 Monthly: $ 1,425.66 Robert Fournier RMLD 7/16/16 27 years, 2 mths Option C (Superannuation) Annuity: $ 19,987.20 Pension: $ 44,944.56 Yearly:. .$ 64,931.76 Monthly: $ 5,410.98 SECONDED BY: SHARON ANGSTROM VOTED: (5-0-0) UNANIMOUS • LOUIS DEBRIGARD, JR. moved to approve the following retirement applications: Valerie O'Brien Guidance Secretary 10/1/16 14 years, 10 months Option B (School), Keith Strong Custodian 09/19/16 17 years, 3 months Option A (School) John Hixson Executive Director 09/30/16 14 years, 2 months Option C (RHA) SECONDED BY: SHARON ANGSTROM VOTED: (5-0-0) UNANIMOUS APPROVAL OF MISCELLANEOUS ITEMS • LOUIS DEBRIGARD, JR. moved to forward request, from Evilo Livingstone, for Accidental Death benefits to PERAC for a medical opinion. SECONDED BY: SHARON ANGSTROM VOTED: (5-0-0) UNANIMOUS • LOUIS DEBRIGARD, JR.moved to approve Board Administrator and Assistant to attend the PTG User Group Meeting being held October 19, 2016 in Topsfield, MA. SECONDED BY: SHARON ANGSTROM VOTED: (5-0-0) UNANIMOUS • NANCY HEFFERNAN moved to elect Colleen Loughlin as election officer of the first elected member, Louis E. deBrigard, Jr.'s term as board member expires'on March 31, 2017. SECONDED BY: SHARON ANGSTROM VOTED: (5-0-0) UNANIMOUS • SHARON ANGSTROM moved to approve the ESS (Employee Self -Service) Portal contract. SECONDED BY: LOUIS DEBRIGARD, JR VOTED: (5-0-0) UNANIMOUS • SHARON ANGSTROM moved to approve'PBI (Pension Benefit Information) contract. SECONDED BY: LOUIS DEBRIGARD, JR VOTED: (5-0-0) UNANIMOUS • SHARON ANGSTROM moved to allow Retirement Board Staff to snake payments to Neopost and monthly utilities not to exceed $1000.00 in order to avoid late fees. SECONDED BY: LOUIS DEBRIGARD, JR VOTED: (5-0-0) UNANIMOUS APPROVAL OF INVOICES TO BE PAID • SHARON ANGSTROM moved to approve the following warrant #AP092016A totaling $432.46: Neofunds by Neopost $ 200.00 Admin Expense — postage Neofunds by Neopost $ 134.90 Service Contract- Rental Equipment RMLD $ 97.56 Admin Expense - Electric SECONDED BY: LOUIS DEBRIGARD, JR VOTED: (5-0-0) UNANIMOUS • SHARON ANGSTROM moved to approve the following warrant #AP092016 totaling $873,041.24: t Commonwealth of Mass. $ 388.21 Commonwealth of Mass. $ 1,783.13 Commonwealth of Mass. $ 1,684.35 Internal Revenue Service $ 82,796.88 Reading Credit Union $ 38,921.00 Sept Retirement Allowances $ 676,381.89 Town of Reading Treasurer $ 54,793.65 RHA Health Ins. Deductions State Tax Deductions Child Support Federal Tax Deductions Credit Union Deductions Net Retiree Payroll Hlth, Life, & Dental Ins. Deductions 1504 Town of Reading Treasurer $ 10,624.19 Sept Staff Salary & Benefits Law Offices of Michael Sacco $ 1,920.00 Legal Expense -Miscellaneous Canon Financial Services $ 168.48 Service Contract - Copier GWT Realty $ 2,800.00 Rent National Grid $ 21.18 Admin Expense — Heat/Gas WB Mason Co., Inc. $ 135.10 Administrative Expense - Supplies Metropolitan Telephone $ 525.33 Furniture/Equip-Phone handsets Colleen Loughlin $ 13.99 Travel.— MACRS — PTG Training Nancy Heffernan $ 83.86 Travel — Training SECONDED BY: LOUIS DEBRIGARD, JR VOTED: (5-0-0) UNANIMOUS INFORMATION/QUESTIONS/OTHER ITEMS • Received a copy of letter from Board Attorney Michael Sacco regarding questions that need to be forwarded to Mr. Laskey's doctor. • A transfer amount of $42,834.51 dated 8/22/16 was received from Essex Regional Retirement Board for Allison Jenkins. Essex Regional Retirement System will accept liability for 10 years and 2 months of creditable service. • Gerald Lees, who worked for Light Department and retired on February 28, 1997, passed away on 8/18/16. He chose Option C at retirement. His spouse, Elizabeth Lees, will receive a monthly allowance of $2,476.66, which is 2/3rds of the amount Gerald was receiving when he died. • Julie Cosentino, .who worked for Finance Department as the Assistant Treasurer/Collector and retired on June 6, 2003, passed away on 9/23/16. She chose Option B at retirement. The amount of remaining funds in her account is $6,765.54 before taxes. • Affidavits were mailed to all retirees September 13, 2016. Second notices will be sent out in October. • Copies of the following Reading Retirement Board reports were emailed for review: The PRIT fund's monthly statement & fund performance for period ending August 31, 2016. ° Bank Reconciliation for the month ending August 31, 2016 Reading Co-op Bank Statement for the month ending August 31, 2016. MMDT Bank Statement for the month ending August 31,.2016. • Special board meeting scheduled for Tuesday, October 11, 2016 at 5:00 pm in the Conference Room at 2 Haven Street, Unit 307, Reading. • The next board meeting is scheduled for Tuesday, October 25, 2016 at 5:00 pm in the Conference Room at 2 Haven Street, Unit 307, Reading. 1505 MEMORANDUMS & LETTERS RECEIVED PERAC Memo #21/2016 - Updating PERAC's Website on Supplemental Regulations PERAC Pension News #43/August 2016 OLD & NEW BUSINESS • Board would like to request Carol Roberts to attend the special meeting, October 11`", to discuss Employee Handbook. • SHARON ANGSTROM moved to approve $840.00 budget to hire Gail LaPointe to train the Admin. Assistant. SECONDED BY: LOUIS DEBRIGARD, JR VOTED: (5-0-0) UNANIMOUS • Board had discussion based on the request from the Administrative Asst. to adjust her hours to Monday through Thursday 8:00-4:00 and the Board was not able to accommodate this request. Administrative Asst. agreed to reassess her needs. OPEN SESSION FOR TOPICS .NOT REASONABLY ANTICIPATED 48 HRS IN ADVANCE OF MEETING ADJOURNMENT • LOUIS DEBRIGARD, JR moved to adjourn this open session at 6:30 P.M. SECONDED BY: . SHARON ANGSTROM VOTED: (5-0-0) UNANIMOUS C -h _ firman, Joseph R. Veno 2" elected it - �f Sharon M. Angstrom, Ex Officibj Nati J. Heff`6rdYn. 15` Vice Chairman, Thoma dough, 2 nd appointed Louis E. deBrigard, r., I" elected