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Home My WebLink About2021-01-20 Retirement Board Minutes � FNrg0 { c Town of ReadingL.�EIVt lN CLERK f `0�Meeting Minutes ERI( Rc iJ1Ig6, R1A. O J9IMOPp� 2021 APF - I PM 12� 42 Board - committee - commission - council: Contributory Retirement Board Date: 2021-01-20 Time: 9:30 AM 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 David Gentile Joseph Coughlin Members - Not Present: Others Present: Colleen Loughlin - Board Administrator Elaine Kelly - Asst Board Administrator John Halsey Minutes Respectfully Submitted By: Elaine Kelly Topics of Discussion: Page I 1 1834 MINUTES OF THE READING RETIREMENT BOARD MEETING Wednesday January 20, 2021 The Reading Retirement Board held a regular session meeting on January 20, 2021 remotely in The Conference Room. at 2 Haven Street, Unit 307, Reading, Massachusetts. The meeting was called to order at 9:30 A.M. by Chairman Thomas Clough remotely via Zoom with board members Sharon Angstrom, Carol Roberts,David Gentile, Joseph Coughlin,Board Administrator Colleen Loughlin, Asst Board Administrator Elaine Kelly,and John Halsey. MINUTES • SHARON ANGSTROM moved to approve a revision to the September 23, 2020 Minutes regarding the Board's denial of the Treasurer's request for a stipend. The Board voted at the September 23, 2020 Board Meeting to deny the Treasurer's request for a stipend, however, the vote was inadvertently documented as VOTED: (4-1-0), when, in fact, it should have read VOTED: (1-4-0),as the roll call vote indicates. SECONDED BY: CAROL ROBERTS ROLL CALL VOTE: SHARON ANGSTROM Aye CAROL ROBERTS Aye DAVID GENTILE Aye JOSEPH COUGHLIN Aye THOMAS CLOUGH Aye VOTED: (5-0-0) UNANIMOUS • Minutes from the November 25, 2020 regular session will be signed by all board members at a later date. • SHARON ANGSTROM moved to accept the minutes from the December 16,2020 regular session. SECONDED BY: CAROL ROBERTS ROLL CALL VOTE: SHARON ANGSTROM Aye CAROL ROBERTS Aye DAVID GENTILE Aye JOSEPH COUGHLIN Aye VOTED: (4-0-1) ABSTAINED: THOMAS CLOUGH 1835 APPROVAL OF NEW MEMBERS RETIREMENTS TRANSFERS AND REFUNDS SHARON ANGSTROM moved to approve the following new members: Joseph Bialecki Firefighter/ Date of hire—01/04/21 9%+2% Gr.4 (Fire) Paramedic Date of membership—01/04/21 Transfer from Essex Noah Clark Patrolman Date of hire—01/04/21 9%+2% Gr. 4 (Police) Date of membership 01/04/21 Transfer from Essex Michael DeNaro Patrolman Date of hire—01/04/21 9%+2% Gr.4 (Police) Date of membership—01/04/21 Transfer from State Allyson Dowds Librarian Date ofhire—01/11/21 9%+2% Gr. I (Library) Date of membership- 01/11/21 Transfer from Boston SECONDED BY: CAROL ROBERTS ROLL CALL VOTE: SHARON ANGSTROM Aye CAROL ROBERTS Aye DAVID GENTILE Aye JOSEPH COUGHLIN Aye THOMAS CLOUGH Aye VOTED: (5-0r 0) UNANIMOUS ' SHARON ANGSTROM moved to approve the following retirement applications: Christopher Voegelin Patrolman 02/10/21 37 yrs, 7 mths Option B (Police) David Savio Patrolman 02/12/21 26 yrs, 5 mths Option B (Police) I _1 1836 SECONDED BY: CAROL ROBERTS ROLL CALL VOTE: SHARON ANGSTROM Aye CAROL ROBERTS Aye DAVID GENTILE Aye JOSEPH COUGHLIN Aye THOMAS CLOUGH Aye VOTED: (5-0-0) UNANIMOUS APPROVAL OF MISCELLANEOUS ITEMS • SHARON ANGSTROM moved to approve the January 2021 wire transfer from PRIM to MMDT in the amount of$750,000.00. SECONDED BY: CAROL ROBERTS ROLL CALL VOTE: SHARON ANGSTROM Aye CAROL ROBERTS Aye DAVID GENTILE Aye JOSEPH COUGHLIN Aye THOMAS CLOUGH Aye VOTED: (5-0-0) UNANIMOUS • SHARON ANGSTROM moved to approve the January 2021 wire transfer from MMDT to Reading Co-op in the amount of$783,803.81. SECONDED BY: CAROL ROBERTS ROLL CALL VOTE: SHARON ANGSTROM Aye CAROL ROBERTS Aye DAVID GENTILE Aye JOSEPH COUGHLIN Aye THOMAS CLOUGH Aye VOTED: (5-0-0)UNANIMOUS • SHARON ANGSTROM moved to transfer 2AM from MMDT to PRIT. SECONDED BY: CAROL ROBERTS ROLL CALL VOTE: SHARON ANGSTROM Aye CAROL ROBERTS Aye DAVID GENTILE Aye JOSEPH COUGHLIN Aye THOMAS CLOUGH Aye VOTED: (5-0-0)UNANIMOUS The Retirement Board Administrator will direct the Town Treasurer to move the funds as soon as possible. APPROVAL OF INVOICES TO BE PAID • SHARON ANGSTROM moved to approve the following warrant#AP012021 totaling$1,069,517.42: Commonwealth of Mass. $ 570.65 RHA Health Ins. Deductions Commonwealth of Mass. $ 1,582.88 State Tax Deductions Internal Revenue Service $ 85,120.29 Federal Tax Deductions Reading Credit Union $ 46,411.00 Credit Union Deductions Jan Retirement Allowances $ 829,926.27 Net Retiree Payroll Town of Reading Treasurer $ 61,991.74 Filth, Life, &Dental Ins. Deductions Town of Reading Treasurer $ 11,900.19 Jan Staff Salary & Benefits GWT Realty $ 3,045.00 Rent Law Office of Michael Sacco $ 1,725.00 Legal Expense-Misc Canon Financial Services $ 168.48 Service Contracts—Copier Reading Municipal Light Dept $ 72.31 Admin Expense—Electric National Grid $ 49.32 Admin Expense—Heat/Gas Wellesley Retirement Board $ 2,497.34 Section 3(8)(c)Reimb for 2020 Andover Retirement Board $ 4,773.13 Section 3(8)(c)Reimb for 2020 Lawrence Retirement Board $ 8,473.55 Section 3(8)(c) Reimb for 2020 Winthrop Retirement Board $ 3,355.53 Section 3(8)(c)Reimb for 2020 Brookline Retirement Board $ 103.69 Section 3(8)(c)Reimb for 2020 Somerville Retirement Board $ 799.47 Section 3(8)(c) Reimb for 2020 Peabody Retirement Board $ 5,154.71 Section 3(8)(c)Reimb for 2020 ShareCare $ 34.83 Medical Records—E. Blackman Quadient Finance USA $ 1,000.00 Admin Expense—Postage Town of Reading $ 45.00 Admin Expense—Direct Deposit stock MACRS $ 600.00 Admin Expense—2021 Annual Dues Colleen Loughlin,Petty Cash $ 69.43 Admin Expense—Postage Sharecare $ 47.61 Medical Records—E. Blackman 1838 SECONDED BY: CAROL ROBERTS ROLL CALL VOTE: SHARON ANGSTROM Aye CAROL ROBERTS Aye DAVID GENTILE Aye JOSEPH COUGHLIN Aye THOMAS CLOUGH Aye VOTED: (5-0-0)UNANIMOUS INFORMATION/QUESTIONS • Fifth Board Member Candidate—The Board will interview the sole candidate at the start of the February 17, 2021 Board Meeting,as the first agenda item. • Carol Roberts has been re-appointed to the Reading Retirement Board. • The Board agreed to hold an evidentiary hearing for Mark Segalla at the March 20 Board meeting. The Board has agreed to go into Executive Session at the conclusion of the March 24, 2021 regular Board meeting via remote participation. Mark Segalla, his attorney and the Board's attorney will be extended the option of meeting via Zoom or in person in the Retirement Office's conference room. • A COLA reimbursement of$59,348.59 from the State for the period 7/1/20-12/31/20 was received on 12/31/20. • A transfer amount of $138,446.16 dated 1/8/21 was received from the State Retirement Board for Keny Meisinger. The State Retirement System will accept liability for 15 years, 1 month, and 18 days of creditable service. (Boston- 13 years, 5 months, and 3 days). • Robert Nordstrand, who worked for the Assessor's Office and retired on July 15, 1999, passed away on December 12, 2020. He chose Option C at his retirement. His spouse,Nathalie Nordstrand, will receive a monthly allowance of$195.53, which is 2/3rds of the amount Robert was receiving at the time of his death. • Lillian Racine, Accidental Disability Beneficiary of Harvey Racine, who worked for the Reading Fire Dept. and retired on February 12, 1977,passed away on January 2,2021. • Copies of the following Reading Retirement Board reports will be emailed for review: The PRIT fund's monthly statement&fund performance for period ending Dec 31, 2020 General Ledger Trial Balance as of Dec 31,2020 Cash Receipts,Adjustments, and Disbursements as of Dec 31,2020 Book Reconciliation for the month ending Dec 31, 2020 Reading Co-op Bank Statement for the month ending Dec 31, 2020 MMDT Bank Statement for the month ending Dec 31,2020 1839 The next regular board meeting is scheduled for Wednesday,February 17, 2021 at 9:30 AM,remote participation, in the Conference Room at 2 Haven Street, Unit 307, Reading, MA. MEMORANDUMS& LETTERS RECEIVED PERAC Memo #34/2020 — Cost of Living Increase for Supplemental Dependent Allowance Paid to Accidental Disability Retirees and Accidental Death Survivors PERAC Memo #35/2020 — Post Retirement Work Waiver During the State of Emergency Extended to 2021 PERAC Memo#36/2020—2020 Disability Data PERAC Memo #37/2020—Mandatory Retirement Board Member Training— 1"Quarter, 2021 PERAC Memo#38/2020—Questions arising in wake of the Gomes decision PERAC Memo#39/2020—Tobacco Company List PERAC Memo#1/2021 —Annual Review of Medical Testing Fee PERAC Memo#2/2021 —2021 Limits under Chapter 46 of the Acts of 2002 PERAC Memo#3/2021 —2021 Limits under Section 23 of Chapter 131 of the Acts of 2010 PERAC Memo#4/2021 —COLA Notice Mass PRIM Memo—PRIM Annual CAFR Report OLD & NEW BUSINESS A Public Records Request was received by the Town Clerk, Laura Gemme, requesting Retirement Board investment information. The Town Clerk forwarded this request to the Town Treasurer, Endri Kume. The Town Treasurer sent an email to the Reading Retirement Administrator informing her that he had received the Public Records Request and that he would be responding to it within the next couple of days. The Board Administrator sent an email back to the Treasurer informing him that he had no authority to respond to the request and that the request should have come directly from the requestor to the Retirement Board Administrator, who is the Records Access Officer for the Reading Retirement System. The Treasurer sent a follow-up email to the Board Administrator stating the reasons why he should respond to the Public Records Request. The Board's counsel, Attorney Michael Sacco, has opined on this matter in a recent memo to the Town Treasurer. __ i 1840 , • Carol Roberts of the Reading Retirement Board conducted a Salary Survey with regard to the Step and COLA increase for the Board Administrator/Assistant Board Administrator for calendar year 2021. She requested 17 peer community Retirement Boards to participate, with 13 responding. In conclusion,it has been determined that the Reading Retirement office staff salaries meet the average salary of those peer communities. This topic will be revisited in three years, (2024),to determine if the staff salaries continue to be in accordance with the average salary of those peer communities rather than fall behind the average. OPEN SESSION FOR TOPICS NOT REASONABLY ANTICIPATED 48 HRS IN ADVANCE OF MEETING ADJOURNMENT • SHARON ANGSTROM moved to adjourn this open session at 10:34 AM: SECONDED BY: CAROL ROBERTS ROLL CALL VOTE: SHARON ANGSTROM Aye CAROL ROBERTS Aye DAVID GENTILE Aye JOSEPH COUGHLIN Aye THOMAS CLOUGH Aye VOTED: (5-0-0)UNANIMOUS Chairman Thomas A. Clou r, 2nd appointed Sharon M.a /A��ngstrom,rExx Ofi� �-q, l noY `C v B. Roberts I"appointed 1� j avii /Ge/n�tile,I"elected ep J. ghlin,2" lected