The URL can be used to link to this page

Home My WebLink About2020-11-25 Retirement Board Minutes rq Town of Reading RttCEIb'tt;er1Gf�•IG z Meeting Minutes t 0b'V CLEF r< Board - committee - commission - council: "021 APD -1 PM 12: 42 Contributory Retirement Board Date: 2020-11-25 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 1 181 9 MINUTES OF THE READING RETIREMENT BOARD MEETING Wednesday November 25, 2020 The Reading Retirement Board held a regular session meeting on November 25, 2020 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 • Minutes from the September 23, 2020 regular session will be signed by all board members at a later date. • SHARON ANGSTROM moved to accept the minutes from the October 21, 2020 regular session. 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 NEW MEMBERS,RETIREMENTS,TRANSFERS,AND REFUNDS • SHARON ANGSTROM moved to approve the following new members: Greg Phipps Asst. Director Date of Hire— 10/19/20 9%+2% Gr. 1 (RMLD) IRD Date of membership— 10/19/20 Kathryn Gallant Executive Date of hive— 10/19/20 9%+2% Gr. 1 (Housing Authority) Director Date of membership— 10/19/20 Sarah Shenstone-Harris IR Specialist Date of hire— 10/26/20 9%+2% Gr. 1 (RMLD) Date of membership— 10/26/20 Lisa Racine Librarian Date of hire— 11/2/20 9%+2% Gr. 1 (Library) Date of membership— 11/2/20 Edward McCarthy Technician Date of hire— 11/16/20 9%+2% Or. 4 ` (RMLD) Date of membership- 11/16/20 1820 David Pearson Benefits Date of hire— 11/23/20 9%+2% Gr. 1 (Human Resources) Coordinator Date of membership— 11/23/20 Jason Laviolette Custodian Date of hire— 11/23/20 9%+2% Gr. 1 (School) Date of membership— 11/23/20 Joshua Edwards Dispatch Date of hire— 11/30/20 9%+2% Gr. 1 (Public Safety) Date of membership— 11/30/20 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 following retirement applications: George Sm=ere Highway 01/03/21 46 yrs, 8 mths Option B (DPW ) Supervisor Paul Guarino Captain 01/09/21 33 yrs,4 mths Option C (Fire) Robert Beck Firefighter/ 03/06/21 30 yrs, 0 mths Option C (Fire) EMT 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 J - 1621 • CAROL ROBERTS moved to approve the following refund of accumulated deductions: Antonio DeGirolamo Resigned 09/03/20 3 years, 2 months (Public Safety-Dispatch) Total deductions&interest $15,373.69 Less 20%Federal Taxes $____k_0_0 Net Refund(Rollover) $15,373.69 SECONDED BY: DAVID GENTILE 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 request from eligible member to purchase prior creditable service from the City of Waltham: Kristen O'Shaughnessy City of Waltham 1/14/04-9/28/05 1 year, 3 mths The total principal purchase amount is$5,517.08. Kristen O'Shaughnessy will purchase this creditable service with a pre-tax rollover check. 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 t i 1822 " SHARON ANGSTROM moved to approve an Evidentiary Hearing for the Accidental Disability Retirement Application filed by Mark Segalla. The Board has reviewed the application, including all medical information. 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 CAROL ROBERTS moved to approve an in-person individual medical panel for the Accidental Disability Application filed by David Savio. The Board has reviewed the application, including all medical information. SECONDED BY: DAVID GENTILE 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 an Evidentiary Hearing for the Involuntary Accidental Disability Application for Eric Blackman. The Board has reviewed the application, including all medical information. 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 Board is requesting additional medical history from any medical providers the member has seen in the last 5 years. The Retirement Board will send the member a Medical Release Form for his signature. 1823 � ' • SHARON ANGSTROM moved to approve the 2021 calendar year budget of$414,640.64. 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 November 2020 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 November 2020 wire transfer from MMDT to Reading Co-op in the amount of$1,087,044.99. Chairman Thomas Clough noted that as of October 31,2020 there is a 3.1M balance in the MMDT account. 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 i __1 1824 = > APPROVAL OF INVOICES TO BE PAID SHARON ANGSTROM moved to approve the following warrant#API 12020 totaling$1,091,502.02: Commonwealth of Mass. $ 570.65 RHA Health Ins. Deductions Commonwealth of Mass. $ 1,582.88 State Tax Deductions Internal Revenue Service $ 85,896.71 Federal Tax Deductions Reading Credit Union $ 46,661.00 Credit Union Deductions Nov Retirement Allowances $ 842,430.40 Net Retiree Payroll Town of Reading Treasurer $ 47,639.58 Hlth, Life, &Dental Ins. Deductions Town of Reading Treasurer $ 11,878.26 Nov Staff Salary &Benefits GWT Realty $ 3,045.64 Rent Law Office of Michael Sacco $ 1,475.00 Legal Expense- Misc Canon Financial Services $ 168.48 Service Contracts—Copier Reading Municipal Light Dept $ 76.42 Admin Expense—Electric National Grid $ 29.65 Admin Expense—Heat/Gas Renaissance Alliance Ins. Service $ 3,898.68 Admin Expense—Insurance Coen Business Forms/Kingsbury Press $ 225.16 Admin Expense— 1099R Forms Capital Bank&Trust $ 15,373.69 Return of Accumulated Ded:A.DeGirolamo W.B. Mason Co., Inc. $ 179.82 Administrative Expense—Supplies Quadient, Inc. $ 20.00 Admin Expense- Part Replacement Pension Technology Group $ 30,350.00 Service Contracts—Retirement Software 12/1/20-11/30/21 SECONDED BY: CAROL ROBERTS ROLL CALL VOTE: SHARON ANGSTROM Aye CAROL ROBERTS Aye DAVID GENTILE Aye JOSEPH COUGHLIN Aye THOMASCLOUGH Aye VOTED: (5-0-0)UNANIMOUS INFORMATION/QUESTIONS • Alma Rhinerson, Option C beneficiary of Norbert Rhinerson (RMLD),passed away on November 10,2020. • Florence Farelli, who worked for Human/Elder Services and retired on October 2, 1992, passed away on September 29,2020. She chose Option C at her retirement. Her daughter,Charlene Farelli, will receive a monthly allowance of$218.69, which is 2/3rds of the amount Florence was receiving J • at the time of her death. 182.5 ' • Retiree Paul Sheridan, Robert Dauphinee, and Charles Helmka received a "Notification of Termination" from PERAC for failure to file their 2019 Annual Statement of Earned Income. The Board Administrator sent a letter to all 3 retirees regarding this issue. Mr. Helmka and Mr. Dauphinee have since complied with PERAC. Board Administrator sent a letter to Mr. Sheridan regarding this issue to allow him to schedule a hearing to review why he failed to meet the proper requirements. No response from Mr. Sheridan. Absent a response, his entire disability retirement shall continue to be terminated. • Copies of the following Reading Retirement Board reports were emailed for review: The PRIT fund's monthly statement&fund performance for period ending Oct 31,2020 General Ledger Trial Balance as of Oct 31,2020 Cash Receipts,Adjustments,and Disbursements as of Oct 31,2020 Bank Reconciliation for the month ending Oct 31, 2020 Reading Co-op Bank Statement for the month ending Oct 31, 2020 MMDT Bank Statement for the month ending Oct 31, 2020 • The next regular board meeting is scheduled for Wednesday, December 16, 2020 at 9:30 AM, remote participation, in the Conference Room at 2 Haven Street,Unit 307,Reading,MA. MEMORANDUMS& LETTERS RECEIVED PERAC Memo#32/2020—Allowable Earnings Determination,pursuant to G.L. c. 32, 91A - PERAC Memo #33/2020—PROSPER Benefit Calculation Submission is almost here! Email from Francesco Daniele at PRIT — If your Board wishes to participate in the PEVY 2021 program, please provide a written response on letterhead informing PRIM of your decision stating that the Board has voted to participate, along with the specific dollar amount that was approved. The deadline for notifying PRIM of an intention to participate in the upcoming'PEVY 2021 portfolio is December 31, 2020. OLD & NEW BUSINESS Kate Hogan, who was the Manager of Medical Services in the Disability Unit at PERAC, passed away unexpectedly on November 19, 2020 after a short illness. OPEN SESSION FOR TOPICS NOT REASONABLY ANTICIPATED 48 HRS IN ADVANCE OF MEETING 1826 ADJOURNMENT SHARON ANGSTROM moved to adjoum this open session at 10:43 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. CI ugh,2—appointed �d an fiU �t 6t�b — Sharon M. Angstrom,Ex 0 cio Carol B. Robe s, I"appointed avid A. Gentile, 1"elected J eph tghlin, 2 elected