HomeMy WebLinkAbout2018-07-18 Retirement Board Minutes A
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Contributory Retirement Board
Date: 2018-07-18 Time: 4:00 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-Board Administrator
Elaine Kelly-Asst. Board Administrator
Anthony Tranghese-Fiduciary Investment Advisors
Peter Lydecker-Finance Committee
Minutes Respectfully Submitted By: Elaine Kelly
Topics of Discussion:
Page I 1
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MINUTES OF THE READING RETIREMENT BOARD MEETING
Wednesday July 18,2018
The Reading Retirement Board held a special session meeting on July 18, 2018 in The Conference
Room at 2 Haven Street, Unit 307, Reading, Massachusetts.
The meeting was called to order at 4:00 P.M. by Chairman Thomas Clough in the presence of members
Joseph Veno, Sharon Angstrom, Carol Roberts, David Gentile and Board Administrator Colleen
Loughlin and Assistant Board Administrator Elaine Kelly. Anthony Tranghese from Fiduciary
Investment Advisors(FIA) and Peter Lydecker, a member of Reading's Finance Committee(FINCOM),
were also present.
SPECIAL ITEM
Anthony Tranghese from Fiduciary Investment Advisors presented an overview of the Reading
Retirement Plan's (the "Plan") investment portfolio, which is invested fully in the Pension Reserves
Investment Trust(PRIT) fund. Anthony explained how the liabilities in the Plan aligned with the current
investment portfolio. The request was made to do some additional analysis before the Board makes a
determination as to whether a change in investment strategy is warranted. A follow up meeting is
scheduled for Tuesday August 14, 2018.
INFORMATION/QUESTIONS
• The next regular board meeting is scheduled for Tuesday, July 24, 2018 at 5:00 pm in the
Conference Room at 2 I laven Street, Unit 307, Reading, MA
• There is a special board meeting scheduled for Tuesday August 14, 2018 with FIA at 4:00 pm in the
Conference Room at 2 Haven Street, Unit 307, Reading, MA
OLD & NEW BUSINESS
OPEN SESSION FOR TOPICS NOT REASONABLY ANTICIPATED 48 HRS IN ADVANCE
OF MEETING
ADJOURNMENT
JOSEPH VENO moved to adjourn this open session at 7:10 pm.
SECONDED BY: SHARON ANGSTROM
VOTED: (5-0-0) UNANIMOUS
1636
i
Chai man Thomas A. C ugh, 2h, appointed
4ViqhwrmX,,l� -Joseph R. Veno,2" electdt/I
Sharon M. Angstrom, Ex UfUcio
to B Roberts, 1' appointed
/F
A. entile, ls�elected