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Home My WebLink About2019-04-23 Retirement Board Minutes Town of Reading a i Meeting Minutes RECEIVED TOWN CLERK �•:,„�aa.a� READING, MA. Board - Committee - commission - Council: 2115 AUG 13 PM 1 41 Contributory Retirement Board Date: 2019-04-23 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: Thomas Clough Sharon Angstrom Carol Roberts Joseph Coughlin Members - Not Present: David Gentile Others Present: Colleen Loughlin - Board Administrator Elaine Kelly - Board Assistant Administrator Minutes Respectfully Submitted By: Elaine Kelly Topics of Discussion: Page 1 1 1700 MINUTES OF THE READING RETIREMENT BOARD MEETING Tuesday April 23, 2019 The Reading Retirement Board held a regular session meeting on April 23, 2019 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 Carol Roberts, Joseph Coughlin, Board Administrator Colleen Loughlin, Assistant Board Administrator Elaine Kelly,Atty. Michael Sacco, Johanna Roman, Alessandra Campo and Donna O'Handley. Sharon Angstrom joined the meeting at 4:10. David Gentile was unable to attend. OPEN SESSION • CAROL ROBERTS motioned to move into Executive Session for an evidentiary hearing regarding the Accidental Disability Application of Johanna Roman. SECONDED BY: JOSEPH COUGHLIN ROLL CALL VOTE: THOMAS CLOUGH Aye CAROL ROBERTS Aye JOSEPH COUGHLIN Aye VOTED: (3-0-0) UNANIMOUS EXECUTIVE SESSION(4:00 PM) Atty. Sacco, Johanna Roman, Alessandra Campo and Donna O'Handley left the Executive Session at 5:00 PM. • SHARON ANGSTROM motioned to exit the Executive Session at 5:00 PM and reconvene in Open Session. SECONDED BY: JOSEPH COUGHLIN ROLL CALL VOTE: THOMAS CLOUGH Aye SHARON ANGSTROM Aye CAROL ROBERTS Aye JOSEPH COUGHLIN Aye VOTED: (4-0-0) UNANIMOUS 1701 !" RECONVENED IN OPEN SESSION (5:00 PM) SPECIAL ITEM The Reading Retirement Board tabled the internal re-organization to the May 28, 2019 regular session in an effort to give all Board members the opportunity to participate. MINUTES • Minutes from the February 19,2019 regular session were signed by all members. • Minutes from the March 13, 2019 special session were signed by all members, except Joseph Veno and Thomas Clough who were unable to attend. • SHARON ANGSTROM moved to accept the minutes from the March 26,2019 regular session. SECONDED BY: CAROL ROBERTS VOTED: (3-0-0) UNANIMOUS ABSTAINED: JOSEPH COUGHLIN APPROVAL OF NEW MEMBERS RETIREMENTS,TRANSFERS,AND REFUNDS • SHARON ANGSTROM moved to approve the following new members: Mitchell Fisher Laborer Date of hire— 10/29/18 9%+2% Gr. 1 (DPW) Date of membership—3/18/19 (possible non-membership make-up) Roni Holzer Asst. Director Date of hire—03/20/19 9% +2% Gr. 1 (RMLD) Utility Tech Date of membership—3/20/19 Thomas Komola Line Foreman Date of hire—4/3/19 9%+2% Gr.4 (RMLD) Date of membership—4/3119 (possible buyback) Kelsey Good Dispatch Date of hire—4/29/19 9%+2% Gr. 1 (Police) Date of membership—4/29/19 Brad Mickle Dispatch Date of hire—4/29/19 9%+2% Gr. I (Police) Date of membership—4/29/19 Mark Vousboukis Dispatch Date of hire—4/29/19 9%+2% Gr. I (Police) Date of membership—4/29/19 (possible non-membership make-up) Meghan Ebbitt Library Date of hire—4/22/19 9%+2% Gr. 1 (Library) Date of membership—4/22/19 1702 a SECONDED BY: CAROL ROBERTS - VOTED: (4-0-0) UNANIMOUS • SHARON ANGSTROM moved to approve the following retirement application: Brenda Wettergreen Librarian 06/01/19 31 yrs, 7 mths Option B (Library) SECONDED BY: CAROL ROBERTS VOTE: (4-0-0) UNANIMOUS • SHARON ANGSTROM moved to approve the final calculation for the following retirement approved by PERAC: Scott Hanson RMLD 02/09/19 32 yrs, 8 mths Option C (Superannuation) Yearly: $73,262.52 Monthly: $ 6,105.21 SECONDED BY: CAROL ROBERTS VOTED: (4-0-0) UNANIMOUS APPROVAL OF MISCELLANEOUS ITEMS • SHARON ANGSTROM moved to approve the request from eligible member to purchase prior non- membership service for creditable service: Donna Beaulieu Reading 2/11/08-7/29/18 5 years, 5 months, (pro-rated) The principal purchase cost is $16,741.61. Donna will begin payroll deductions of$1,000.00 with the May 3, 2019 pay period. SECONDED BY JOSEPH COUGHLIN VOTED: (4-0-0) UNANIMOUS • SHARON ANGSTROM moved to approve the April 2019 wire transfer from PRIM to MMDT in the amount of$750,000.00. SECONDED BY: CAROL ROBERTS VOTED: (4-0-0) UNANIMOUS 17 03 t ' • SHARON ANGSTROM moved to approve the April 2019 wire transfer from MMDT to Reading Co-op in the amount of$1,123,548.77. SECONDED BY: CAROL ROBERTS VOTED: (4-0-0) UNANIMOUS APPROVAL OF INVOICES TO BE PAID • SHARON ANGSTROM moved to approve the following wan-ant#AP042019A totaling$876.54: Canon Financial Services $ 168.48 Service Contracts—Copier National Grid $ 35.48 Admin Expense—Heat/Gas Reading Municipal Light Dept $ 72.58 Admin Expense -Electric NEOFUNDS $ 600.00 Admin Expense—Postage SECONDED BY: CAROL ROBERTS VOTED: (4-0-0) UNANIMOUS • SHARON ANGSTROM moved to approve the following warrant #AP042019 totaling $1,017,871.52: Commonwealth of Mass. $ 562.95 RHA Health Ins. Deductions Commonwealth of Mass. $ 1,747.88 State Tax Deductions Commonwealth of Mass. $ 1,467.69 Child Support Internal Revenue Service $ 81,713.74 Federal Tax Deductions Reading Credit Union $ 45,951.00 Credit Union Deductions April Retirement Allowances $ 810,938.58 Net Retiree Payroll Town of Reading Treasurer $ 43,917.84 Hlth, Life, &Dental Ins. Deductions Town of Reading Treasurer $ '11,327.34 April Staff Salary/&Benefits GWT Realty $ 2,977.17 Rent Law Office of Attorney Sacco $ 2,166.00 Legal Expenses W.B. Mason Co.,Inc. $ 90.02 Admin Expense—supplies Fiduciary Investment Advisors $ 8,750.00 Investment Consultant Fees-Quarterly Town of Reading $ 79.50 Service Contracts—Fax Thomson Reuters—West $ 142.00 Admin Expense—Ch. 32 inserts Concord Retirement System $ 6,039.81 Reimb from Other System(owed) SECONDED BY: CAROL ROBERTS VOTED: (4-0-0) UNANIMOUS 1704 , INFORMATION/QUESTIONS • Patricia Keane, who worked for the School Department and retired on June 13, 2000, passed away on April 13,2019. She chose Option A at her retirement. • On March 22, 2019, PERAC notified this board that Laura M. Bullis was evaluated for possible return to service and PERAC's internal Nurse Case Manager determined that she is unable to perform the essential duties of her job. • A check was received from the following Boards for full payment of its Section 3(8)(c) reimbursement: - Danvers Retirement Board - Boston Retirement Board • Copies of the following Reading Retirement Board reports were emailed for review: The PRIT fund's monthly statement&fund performance for period ending March 31, 2019 General Ledger Trial Balance as of Jan 31 —March 31, 2019 Cash Receipts, Adjustments,and Disbursements as of Jan 31 —March 31,2019 Bank Reconciliation for the month ending March 31,2019 Reading Co-op Bank Statement for the month ending March 31,2019 MMDT Bank Statement for the month ending March 31, 2019 • The next regular board meeting is scheduled for Tuesday, May 28, 2019 at 4:00 pm in the Conference Room at 2 Haven Street,Unit 307,Reading, MA MEMORANDUMS & LETTERS RECEIVED PERAC Memo 02/2019—Tobacco Company List PERAC Memo#13/2019—Mandatory Retirement Board Member Training—2n" Quarter 2019 PERAC Memo#14/2019 Forfeiture of Retirement Allowance for Dereliction of Duty by Members PERAC Memo 915-2019—Application for a Waiver of Education Restrictions PERAC Pension News#51 —April 2019 OLD & NEW BUSINESS 1705 = >' OPEN SESSION FOR TOPICS NOT REASONABLY ANTICIPATED 48 HRS IN ADVANCE OF MEETING ADJOURNMENT • SHARON ANGSTROM moved to adjourn this open session at 5:30 pm. SECONDED BY: CAROL ROBERTS VOTED: (4-0-0) UNANIMOUS Chairman Thomas A. ough, 2" appointed ao" ►M a4- . Sharon M. Angstrom,Ex O o r_ G.A,Q 'R. pU-Y� . Roberts, I"a po. tt avid A. Gentile, 1"elee e Joseph J1 C hlin, 2nd a eted L'