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Home My WebLink About2018-04-24 Retirement Board Minutes ra Town of Reading Meeting Minutes Board - Committee - Commission - Council: Contributory Retirement Board Pita OCi -4 PM 12: 51 Date: 2018-04-24 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-Joseph Veno Thomas Clough Sharon Angstrom Carol Roberts David Gentile Members - Not Present: Others Present: Colleen Loughlin-Board Administrator Elaine Kelly-Asst. Board Administrator Minutes Respectfully Submitted By: Elaine Kelly Topics of Discussion: Page I 1 '1618 = � u MINUTES OF THE READING RETIREMENT BOARD MEETING Tuesday April 24, 2018 The Reading Retirement Board held a regular session meeting on April 24, 2018 in The Conference Room, at 2 Haven Street, Unit 307, Reading, Massachusetts. The meeting was called to order at 5:00 P.M. by Chairman Joseph Veno in the presence of members Thomas Clough, Sharon Angstrom, Carol Roberts, David Gentile and Board Administrator Colleen Loughlin and Assistant Board Administrator Elaine Kelly. SPECIAL ITEM • Joseph Veno stepped down as the Chairman of the Reading Retirement Board. Nominations were conducted. Thomas Clough indicated that he would like to be considered for the position as Chairman of the Board. There was no interest from any of the other Board members to be considered for the position as Chairman of the Board. • JOSEPH VENO motioned to close the nominations. SECONDED BY: DAVID GENTILE VOTED: (5-0-0) UNANIMOUS • JOSEPH VENO moved to nominate THOMAS CLOUGH as Chairman of the Reading Retirement Board. SECONDED BY: SHARON ANGSTROM VOTED: (5-0-0) UNANIMOUS • THOMAS CLOUGH moved to nominate JOSEPH VENO as Vice Chairman of the Reading Retirement Board. SECONDED BY: SHARON ANGSTROM VOTED: (5-0-0) UNANIMOUS APPROVAL OF MINUTES • Minutes from the February 12, 2018 special session were signed by all board members. • Minutes from the February 20, 2018 regular session were signed by all board members, except for Joseph Veno and Thomas Clough who were not present. • Minutes from March 5, 2018 special session were signed by all board members, except Joseph Veno who was not present. • SHARON ANGSTROM moved to accept the March 27, 2018 regular session minutes. X461 9 ' SECONDED BY: JOSEPH VENO VOTED: (5-0-0) UNANIMOUS • SHARON ANGSTROM moved to accept the March 27, 2018 executive session minutes. SECONDED BY: JOSEPH VENO VOTED: (5-0-0) UNANIMOUS APPROVAL OF NEW MEMBERS,RETIREMENTS, TRANSFERS,AND REFUNDS • SHARON ANGSTROM moved to approve the following retirement applications: Brian McFadden Laborer 04/19/18 10 years, 7 mths Option A (DPW) Patrice O'Donnell Sr. Library 07/07/18 14 years, 6 mths Option A (Library) Associate SECONDED BY: JOSEPH VENO VOTED: (5-0-0) UNANIMOUS • SHARON ANGSTROM moved to approve final calculations for the following retirements approved by PERAC: Anthony Caturello Police 01/13/I8 32 years, 0 mths Option A (Superannuation) Annuity: $ 14,356.92 Pension: $ 48,805.20 Yearly: $ 63,162.12 Monthly: $ 5,263.51 William Marks RMLD 02/03/18 18 years, 0 mths Option C (Superannuation) Annuity: $ 10,774.80 Pension: $ 16,770.96 Yearly: $ 27,545.76 Monthly: $ 2,295.48 Evelyn Holt RMLD 02/10/18 18 years, 0 mths Option B (Superannuation) Annuity: $ 7,442.64 Pension: $ 17,116.56 Yearly: $ 24,559.20 Monthly: $ 2,046.60 Jeanne Foti RMLD 03/03/18 18 years, 0 mths Option C (Superannuation) Annuity: $ 13,165.20 Pension: $ 31,995.00 Yearly: $ 45,160.20 Monthly: $ 3,763.35 1620 - , Cynthia Keenan Fire 02/08/18 18 years, 0 mths Option C (Superannuation) Annuity: $ 9,097.92 Pension: $ 30,783.24 Yearly: $ 39,881.16 Monthly: $ 3,323.43 SECONDED BY: JOSEPII VENO VOTED: (5-0-0) UNANIMOUS APPROVAL OF MISCELLANEOUS ITEMS • The Retirement Administrator will provide, to the board members, a copy of the 2013 RFP for legal services drafted by the Reading Retirement Board. This item will be tabled to the May 7, 2018 special meeting agenda. • SHARON ANGSTROM moved to approve request from eligible member to purchase prior non- membership service for creditable service: Kim Saunders Reading 09/01/07-09/25/09 1 year, 4 months(pro-rated) The total principal cost is $2,672.69. Kim will start payroll deductions of$25.00/pay period starting May 4, 2018. SECONDED BY: JOSEPH VENO VOTED: (5-0-0) UNANIMOUS • SHARON ANGSTROM moved to approve request from eligible member to purchase prior non- membership service for creditable service: Denise Santoro Reading 01/06/14-06/30/16 1 year, 6 months (pro-rated) The total principal cost is $4,320.23. Denise will rollover funds from ICMA account and start payroll deductions of$25.00/pay period starting May 4, 2018. SECONDED BY: JOSEPH VENO VOTED: (5-0-0) UNANIMOUS • SHARON ANGSTROM moved to approve and sign the Annual Statement for PERAC for calendar year ended December 31, 2017. SECONDED BY: JOSEPH VENO VOTED: (5-0-0) UNANIMOUS 1621 ' , • SHARON ANGSTROM moved to approve the request for the administrators and the board members that are interested, to attend the MACRS Annual 2018 Conference being held June 4 - 6, 2018 (woulc only attend June 5 —June 6) at the Resort and Conference Center in Hyannis, MA. SECONDED BY: JOSEPH VENO VOTED: (5-0-0) UNANIMOUS • SHARON ANGSTROM moved to approve the job descriptions for the Retirement Administrator and Assistant Retirement Administrator. SECONDED BY: JOSEPH VENO VOTED: (5-0-0) UNANIMOUS • SHARON ANGSTROM moved that The Board follow the direction of PERAC regarding sick and vacation leave in conjunction with worker's compensation payments (PERAC Memo #12/2018; PERAC Memo #17/2018; Attorney Sacco's memo to all board clients). SECONDED BY: JOSEPH VENO VOTED: (5-0-0) UNANIMOUS APPROVAL OF INVOICES TO BE PAID • SHARON ANGSTROM moved to approve the following warrant 4AP042018A totaling $491.59: RMLD $ 74.60 Admin Expense—Electric National Grid $ 37.48 Admin Expense—Heat/Gas NEOFUNDS $ 379.51 Admin Expense—Postage SECONDED BY: JOSEPH VEND VOTED: (5-0-0) UNANIMOUS • JOSEPH VENO moved to amend the following warrant #AP042018 totaling $1,006,164.38 to add $320.00 to the MACRS Spring Conference request, changing the total from $640.00 to $960.00: SECONDED BY: SHARON ANGSTROM VOTED: (5-0-0) UNANIMOUS • SHARON ANGSTROM moved to approve the following warrant#AP042018 totaling $1,006,484.38: Commonwealth of Mass. $ 560.61 RHA Health Ins. Deductions Commonwealth of Mass. $ 1,613.13 Statc Tax Deductions 1622 Commonwealth of Mass. $ 1,467.69 Child Support Internal Revenue Service $ 79,934.21 Federal Tax Deductions Reading Credit Union $ 48,821.00 Credit Union Deductions April Retirement Allowances $ 759,217.93 Net Retiree Payroll Town of Reading Treasurer $ 61,772.31 Hlth, Life, &Dental his. Deductions Town of Reading Treasurer $ 10,970.23 April Staff Salary& Benefits Law Offices of Michael Sacco $ 1,625.00 Legal Expense-Miscellaneous GWT Realty $ 2,927.40 Rent Cannon Financial Services $ 168.48 Service Contracts—Copier Middlesex Cry Retirement Bd $ 31,111.58 Section 3(8)(c)Reimb for 2017 Quincy Retirement Board $ 4,751.33 Section 3(8)(c) Reimb for 2017 MACRS $ 960.00 Education& Training 2018 MACRS Spring Conference MailFinanee $ 379.98 Service Contract—Postage Machine Thomson Reuters—West $ 124.00 Administrative Expense—Ch. 32 Inserts Town of Reading $ 79.50 Service Contracts—Metrofax SECONDED BY: JOSEPH VENO VOTED: (5-0-0) UNANIMOUS INFORMATION/OUESTI ONS • Signature required for the FY2019 Renewal Proposal for Property, Liability and Workers' Compensation coverages. • Treasurer needs updated signatures from the Board. Board members will sign next month as there was a re-organization of the Board. • The board will be voting on a COLA increase at the May 22, 2018 board meeting for FY 2019, which begins on July 1, 2018 and ends June 30, 2019. It is limited to a maximum amount of 3%of$12,000. • On January 17, 2018, PERAC notified this board that Joseph P. Guazzaloca was evaluated for possible return to service and PERAC's internal Nurse Case Manager determined that he is unable to perform the essential duties of his job. • On February 2, 2018, PERAC notified this board that David T. Ballou was evaluated for possible return to service and PERAC's internal Nurse Case Manager determined that he is unable to perform the essential duties of his job. • On February 22, 2018, PERAC notified this board that Charles D. Helmka was evaluated for possible return to service and PERAC's internal Nurse Case Manager determined that he is unable to perform the essential duties of his job. �1623 ' > • Marion Kohler, who worked for the Veteran's Dept. and retired on May 31, 1983, passed away on February 4, 2018. She chose Option B at her retirement but there are no remaining funds in her annuity. Payments ceased upon her death. • A check was received from the following Boards for full payment of its Section 3(8)(c) reimbursement: - City of Boston Retirement System - Essex Regional Retirement System • A special meeting is scheduled for Monday, May 7, 2018 at 5:00 pin in the Conference Room at 2 Haven Street, Unit 307, Reading, MA to meet with FIA. • The next board meeting is scheduled for Tuesday, May 22, 2018 at 5:00 pm in the Conference Room at 2 Haven Street, Unit 307, Reading, MA. MEMORANDUMS & LETTERS RECEIVED PERAC Memo#16/2018—Mandatory Retirement Board Member Training—god Quarter 2018 PERAC Memo 917,12018—Implementation of the V emava decision Received letter from Attorney Robert O'Brien addressed to Bob LeLacheur requesting that the Town's panel (Section 10013 Committee) selected to review Laura Bullis' claim for continued medical care. OLD & NEW BUSINESS OPEN SESSION FOR TOPICS NOT REASONABLY ANTICIPATED 48 HRS IN ADVANCE ADJOURNMENT • SHARON ANGSTROM moved to adjourn this open session at 6:35 pm. SECONDED BY: JOSEPH VENO VOTED: (5-0-0) UNANIMOUS 1624 v Chairma Thomas A. ough, 2" appointed Vic hairman, Joseph R. Veno, 2" elected Sharon M. Angstrom, Ex OM Carol B. /Roberts, I" appointed D—'avid A. Gentile, 1"elected