HomeMy WebLinkAbout2018-10-09 Retirement Board Minutes Town of Reading
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Meeting Minutes iLOWN CLERK
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Board - Committee - Commission - council: 2119 JAN 16 PM 12: 30
Contributory Retirement Board
Date: 2018-10-09 Time: 3:00 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
Joseph Veno
Carol Roberts
David Gentile
Members- Not Present:
Others Present:
Colleen Loughlin-Board Administrator
Elaine Kelly - Board Assistant Administrator
Peter Lydecker (FINCOM)
Paul Todisco (PRIM)
Francesco Daniele (PRIM)
Minutes Respectfully Submitted By: Elaine Kelly
Topics of Discussion:
Page I 1
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MINUTES OF THE READING RETIREMENT BOARD MEETING
Tuesday,October 9,2018
The Reading Retirement Board held a special session meeting on October 9, 2018 in The Conference
Room at 2 Haven Street,Unit 307, Reading, Massachusetts.
The meeting was called to order at 3:00 P.M. by Chairman Thomas Clough in the presence of members
Joseph Veno, Sharon Angstrom, Carol Roberts, David Gentile, Board Administrator Colleen Loughlin
and Assistant Board Administrator Elaine Kelly, Peter Lydecker from the Finance Committee
(FINCOM), Paul Todisco and Francesco Daniele from the Pension Reserves Investment Management
Board(PRIM).
SPECIAL ITEMS
• Paul Todisco, (PRIM) attended and di§#*j4,the long term strategy of the Massachusetts Pension
Reserves Investment Trust (FRIT). The Board feels they need more clarification. Thomas Clough
will reach out to Anthony Tranghese, FIA, for information about PRIT and to inquire if he plans to
attend the PRIM Conference being held at The College of the Holy Cross in Worcester slated for
January 2019. It intends to be an in-depth view of the direction the PRIT fund Board will take with
its asset allocation over the next 5+years. The Retirement Board will then make a decision to stay
with the PRIT fund as is based on their asset allocation strategy or to adopt another asset allocation
strategy as provided by FIA.
• JOSEPH VENO moved to approve Attorney Michael Sacco as the Legal Counsel in accordance with
the recent RFP. The duration of the contract will.be 5 years with the ability to extend 2 years.
SECONDED BY: CAROL ROBERTS
VOTED: (5-0-0) UNANIMOUS
INFORMATION/OUESTIONS
• The next regular board meeting is scheduled for Tuesday, October 23, 2018 at 5:00 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
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ADJOURNMENT
SHARON ANGSTROM moved to adjoum this open session at 5:05 pm.
SECONDED BY: CAROL ROBERTS
VOTED: (5-0-0) UNANIMOUS
Chairman,Thomas A. Clm t,2" appointed
Vicee AChaaiir nan,Joseph R.Veno,2 elected
ic
Sharon M. Angstrom,Ex Officio
Caro�B. RAk1 appointed
avid d A. Gen*el�elected