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Home My WebLink About2016-12-27 Retirement Board Minutes4�N bFBFA�irY ,. Town.of Reading Meeting Minutes t L�...�`. y�q. Iz Board - Committee - Commission - Council: { 43-1 Contributory Retirement Board 201 SLC I I' P �' Date: 2016-12-27 Time: 5:05 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, Nancy Heffernan, Louis deBrigard Jr., Members - Not Present: Sharon Angstrom, Thomas Clough Others Present: Colleen Loughlin Minutes Respectfully Submitted By: Elaine Kelly Topics of Discussion: SEE ATTACHED Page I 1 MINUTES OF THE READING RETIREMENT BOARD MEETING Tuesday, December 27, 2016 The Reading Retirement Board held a regular session meeting on December 27, 2016, in The -Conference Room, at 2 Haven Street, Unit 307, Reading, Massachusetts. The meeting was called to order at. 5:05 P.M. by Chairman Joseph Veno in the presence of members Nancy Heffernan, Louis deBrigard, Jr., and Board Administrator, Colleen Loughlin. Sharon Angstrom and Thomas Clough were not able to attend'. SPECIAL ITEM • Carol Roberts attended the meeting to present .Draft 2 of the Employee Handbook. The Board would like to wait for all members to be present before approving as a mal o_y., Board Administrator will forward to Sharon and Tom for review. c, i A ; at MINUTES v • NANCY HEFFERNAN moved to accept the November 22, 2016 regular sessiori'Yninu` es' , V except Sharon Angstrom who was not present. 6 - SECONDED BY: LOUIS DEBRIGARD, JR. VOTED: (3-0-0) UNANIMOUS • Minutes from the October 26, 2016 regular session to be signed by all board members. APPROVAL OF NEW MEMBERS, RETIREMENTS, TRANSFERS AND REFUNDS • NANCY HEFFERNAN moved to approve the following new members: Andrew Corona Economic Dev. Date of hire & membership — 11/28/16 9% + 2% Gr. 1 (Planning) Director Aimee Lowery Dispatcher Date of hire & membership — 12/19/16 9% + 2% Gr. 1 (Police) SECONDED BY: LOUIS DEBRIGARD, JR. , VOTED: (3-0-0) UNANIMOUS r • NANCY HEFFERNAN moved to approve the following return of accumulated deductions: Michelle Lamson Terminated 6/7/16 4 years, 4 months (RMLD) Total deductions & interest $ 23,413.03 Less -20% Federal Taxes $ 4,682.61 Net refund (Cash) $ 18,730.42 SECONDED BY: LOUIS DEBRIGARD, JR. VOTED: (3-0-0) UNANIMOUS APPROVAL OF MISCELLANEOUS ITEMS • NANCY HEFFERNAN moved to approve the Budget for calendar year 2017 as adjusted. SECONDED BY: LOUIS DEBRIGARD, JR. VOTED: (3-0-0) UNANIMOUS APPROVAL OF INVOICES TO BE PAID • NANCY HEFFERNAN moved to approve the following warrant #AP122016A totaling $96.08: National Grid $ 31.82 Admin Expense — Heat/Gas RMLD $ 64.26 Admin Expense_— Electric 1.520 • NANCY HEFFERNAN moved to approve the following retirement applications: Phillip Perry Equip Operator 12/28/16 28 years, 0 months Option C (DPW) Kenneth Campbell, Jr. Firefighter — Captain 12/31/16 44 years, 3 months Option C (Fire) David Stamatis Lieutenant 01/07/17 32 years, 0 months Option C (Police) Michael Saunders Detective 01/08/17 32 years, 0 months Option C (Police) SECONDED BY: LOUIS DEBRIGARD, JR. VOTED: (3-0-0) UNANIMOUS • NANCY HEFFERNAN moved to approve the following return of accumulated deductions: Michelle Lamson Terminated 6/7/16 4 years, 4 months (RMLD) Total deductions & interest $ 23,413.03 Less -20% Federal Taxes $ 4,682.61 Net refund (Cash) $ 18,730.42 SECONDED BY: LOUIS DEBRIGARD, JR. VOTED: (3-0-0) UNANIMOUS APPROVAL OF MISCELLANEOUS ITEMS • NANCY HEFFERNAN moved to approve the Budget for calendar year 2017 as adjusted. SECONDED BY: LOUIS DEBRIGARD, JR. VOTED: (3-0-0) UNANIMOUS APPROVAL OF INVOICES TO BE PAID • NANCY HEFFERNAN moved to approve the following warrant #AP122016A totaling $96.08: National Grid $ 31.82 Admin Expense — Heat/Gas RMLD $ 64.26 Admin Expense_— Electric 1511 SECONDED BY: LOUIS DEBRIGARD, JR. VOTED: (3-0-0) UNANIMOUS • NANCY HEFFERNAN. moved to approve the following warrant #AP 122016 totaling $922,864.17: Commonwealth of Mass. $ 388.21 RHA Health Ins. Deductions Commonwealth of Mass. $ 1,683.13 State Tax Deductions Commonwealth of Mass. $ 1,684.35 Child Support Internal Revenue Service $ 82,613.45 Federal Tax Deductions Reading Credit Union. $ 38,361.00 Credit Union Deductions Dec Retirement Allowances $ 702,804.20 Net Retiree Payroll Town of Reading Treasurer $ 56,21.9.25 Hlth, Life, & Dental:Ins. Deductions Town of Reading Treasurer $ 9,389.80 Dec Staff Salary & Benefits Law Offices of Michael Sacco $ 570.00 Legal Expense -Miscellaneous GWT Realty $ 2,800.00 Rent Canon Financial Services $ . 168.48 Service Contract — Copier Michelle Lamson $ 18,730.42 Refund to Member Internal Revenue Service $ 4,682.61 Ref. to Mem-20% Fed Tax -M. Lamson W.B. Mason Co., Inc. $ 139.72 Admin Expense — Supplies Flyers Unlimited $ 164.30 Admin Expense — Envelopes Commonwealth Print Services $ 378.50 Admin Expense — Retirement Guides Carol Roberts $ 2,010.00 Admin Expense — Employee Handbook Colleen Loughlin, Petty Cash $ 76.75 Admin Expense - postage SECONDED BY: LOUIS DEBRIGARD, JR. VOTED: (3-0-0) UNANIMOUS INFORMATION/QUESTIONS/OTHER ITEMS • The Town Manager has approved the Retirement Board to piggy back off the Town's benefits. Reference Appendix A in Employee Handbook. • A COLA reimbursement of $74,831.15 from the State for the period 7/1/16-12/31/16 was received -,on 12/22/16. • One outstanding affidavit... Thelma Moran. Spoke to daughter and she has form and will get Thelma to sign affidavit. • Luigi Sablone, who worked for the Elder Services and retired on September 11, 1981, passed away on September 26, 2016. He chose Option A at his retirement. Family member reimbursed the Retirement System for the overpayment. 15-:2 z • Joyce Miller, who worked for the Library and retired on June 30, 1983, passed away on December 9, 2016. She chose Option A at her retirement. • On December 14, 2016, PERAC notified this board that Linda M. Polcari was evaluated for possible return to service and PERAC's internal Nurse. Case Manager determined that she is unable to perform the essential duties of her job. • Copies of the following Reading Retirement Board reports were emailed for review: The PRIT fund's monthly statement & fund performance for period ending November 30, 2016. General Ledger Trial Balance as of November 30, 2016. Cash Receipts, Adjustments, and Disbursements as of November 30, 2016. Bank Reconciliation for the month ending November 30, 2016. Reading Co-op Bank Statement for the month ending November 30, 2016. MMDT Bank Statement for the month ending November 30, 2016. • The next _board meeting is scheduled for Tuesday, January 24, 2017 at 5:00 pm in the Conference Room at 2 Haven Street, Unit 307, Reading. MEMORANDUMS & LETTERS RECEIVED PERAC Memo #27/2016 — Tobacco Company List PhRAC Memo #28/2016 — Disability Data PERAC Memo 929/2016 — The Buyback of Call Firefighter Time OLD & NEW BUSINESS • Discussion on Supplemental Regulations — put on the January agenda for discussion. Need to look into the intent on the regulation for membership and would like to have all board members present for discussion. • Discussion on Military Service — approximately 5 active employees have past their 10 year anniversary date within 2015/2016. Will wait for a complete board discussion to consider allowing these members to purchase military purchase. Might want to consider a new regulation. Put on January agenda for discussion; not all board members present. OPEN SESSION FOR TOPICS NOT REASONABLY ANTICIPATED 48 HRS IN ADVANCE OF MEETING r 1523 r ADJOURNMENT • NANCY HEFFERNAN moved to adjourn this open session at 5:50 P.M. SECONDED BY: LOUIS DEBRIGARD, JR. VOTED: (3-0-0) UNANIMOUS Ch firman, oseph R. Veno, 2° elected . Sharon M. Angstrom, Ex Officio Na J. Heff ' , 1s' appointed Vice Chairmail, Thomas A., lough, 2" appointed p7 LfJ/A Louis E. B igard, ,., 1 t elected C