HomeMy WebLinkAbout2018-05-07 Retirement Board Minutes F
Town of Reading
Meeting Minutes
Board - Committee - Commission - Council:
seta OCT —a Pr, iz: s i
Contributory Retirement Board
Date: 2018-05-07 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
Sharon Angstrom
Carol Roberts
David Gentile
Members - Not Present:
Joseph Veno
Others Present:
Colleen Loughlin-Board Administrator
Peter Lydecker-Finance Committee
Minutes Respectfully Submitted By: Elaine Kelly
Topics of Discussion:
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MINUTES OF THE READING RETIREMENT BOARD MEETING
Monday, May 7, 2018
The Reading Retirement Board held a special session meeting on May 7, 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 Thomas Clough in the presence of members,
Sharon Angstrom, Carol Roberts, David Gentile and Board Administrator Colleen Loughlin. Joseph Veno
was not able to attend due to medical issues. The Chairman of the Finance Committee, Peter Lydecker,
attended the meeting.
SPECIAL ITEM
• Anthony Tranghese from Fiduciary Investment Advisors requested a kick-off meeting to make sure
that beyond the presentation initially given that FIA is covering all materials and topics that are
important to the Board. As stated in the RPP: "It shall be the primary purpose of the consultant to
advise the Board with respect to its available investment options, provide performance
comparatives for the last ten (10) years and to make a recommendation to the Board whether its
current investment portfolio and asset allocation is prudent given the Board's liabilities and existing
funding schedule." The Board agreed to meet on Tuesday, June 19, 2018 at 4:00 pm for FIA to offer
recommendations on how to proceed with investments.
• The Board reviewed the legal RFP that was created by Attorney Michael Sacco, The Board mads
some amendments to the RFP and will approve the final version of the RFP at the next regula.
scheduled board meeting.
INFORMATION/QUESTIONS
• 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.
ADJOURNMENT
• SHARON ANGSTROM moved to adjourn this open session at 7:30 pm.
SECONDED BY: CAROL ROBERTS
VOTED: (4-0-0) UNANIMOUS
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Chairman,T Thomas A. Clou�g i� appointed
Vice Chairman,Joseph R. Veno, 2" elected
Sharon M. Angstrom, Ex Offic'
C 1 -1) 1� - j
Caro . Roberts, 11`appointed
i A. entile, �'elected