HomeMy WebLinkAbout2018-02-12 Retirement Board Minutes � N OFR
,. Town of Reading
Meeting Minutes , .
O d
Board - Committee - Commission - Council:
Contributory Retirement Board � � APR 25 PM 3: 18
Date: 2018-02-12 Time: 5:00 PM
Building: Reading Retirement Administration Location: Conference Room
Address: 2 Haven Street Unit 307 Session: Open Session
Purpose: General Business Version: Final
Attendees: Members - Present:
Chairman-Thomas Clough
Joseph Veno
Sharon Angstrom
Carol Roberts
David Gentile
Members - Not Present:
Others Present:
Colleen Loughlin, Elaine Kelly
Minutes Respectfully Submitted By: Elaine Kelly
Topics of Discussion:
Page 1 1
1 .602 - a
1
J
MINUTES OF THE READING RETIREMENT BOARD MEETING
Monday February 12, 2018
1
The Reading Retirement Board held a special session meeting on February 12, 2018 in The Conference
Room, at 2 Haven Street, Unit 307, Reading, Massachusetts.
The meeting was called to order at 11:00 A.M. by Chairman Joseph Veno in the presence of members
Thomas Clough, Sharon Angstrom, Carol Roberts, David Gentile, Board Administrators Colleen Loughlin
and Elaine Kelly.
APPROVAL OF MISCELLANEOUS ITEMS
• SHARON ANGSTROM moved to increase the Retirement Administrator's base salary to $86,701
(Step 7) retroactive to January 1, 2018 based on the new median of$86,701(Step 7) effective 1/1/1.8.
The Assistant Retirement Administrator's base salary will increase to $51,794 (Step 4) retroactive to
January 1, 2018, based on the new median of$54,965 (Step 7) effective 1/1/18. The annual step and
COLA will be addressed in September 2018 in alignment with the budget. The Board will do a salary
analysis on both salaries on a 3 year cycle ensuring that the salaries are market competitive. Salaries
will be reviewed September 2020.
SECONDED BY: CAROL ROBERTS
VOTED: (5-0-0) UNANIMOUS
INFORMATION/QUESTIONS/OTHER ITEMS
• Tom Clough compiled a list of questions for the Investment Consultant candidates and presented them,
to the Board. Tom will edit the final draft before the Board forwards them to the three prospective
candidates prior to the February 20, 2018 meeting.
• Job descriptions were presented to the Board for the Administrator and Assistant Administrator
positions which will be reviewed at the March 27, 2018 meeting.
•
' The next board.meeting is scheduled for Tuesday February 20, 2018 at 1:45 AM in the Conference
Room at 2 Haven Street, Unit 307, Reading.
OLD & NEW BUSINESS
OPEN SESSION FOR TOPICS NOT REASONABLY ANTICIPATED 48 HRS IN ADVANCE
3
l J
'� 603
ADJOURNMENT
SHARON ANGSTROM moved to adjourn this open session at 1:00 PM
SECONDED BY: CAROL ROBERTS
VOTED: (5-0-0) UNANIMOUS
airman, Joseph R. Veno, 2" elected
Sharon M. Angstrom, Ex Officio
Carol B. Roberts, 1St appointed
J
Vice Chairman, Thomas A lough, 2n
mappointed
David A. Gentile, 1St elected