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Home My WebLink About2020-10-21 Retirement Board Minutes dN Of'R�O Town of Reading 'RECtIVEG ;� ' Meeting Minutes TpUJ;y CLERK r �' READ ?hdG: MA. /Y _..,,,,�,,,a** 11 Board - committee - commission - council: c021 APP - I PM 12: 42 Contributory Retirement Board Date: 2020-10-21 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 1 1 1813 = � MINUTES OF THE READING RETIREMENT BOARD MEETING Wednesday October 21,2020 The Reading Retirement Board held a regular session meeting on October 21, 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 August 26, 2020 regular session will be signed by all board members at a later date. • SHARON ANGSTROM moved to accept the minutes from the September 23, 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: Luke Callahan Credit/Collections Date of hire—09/28/20 9%+2% ' Or. I (RMLD) Manager Date of membership—09/28/20 Joseph Cass Custodian Date of hire— 10/16/20 9%+2% Or. I (School) Date of membership— 10/16/20 ' 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 `� 181 b ° , • SHARON ANGSTROM moved to approve the following retirement applications: Roberta Maillett Information Tech 01/09/21 20 yrs,6 mths Option C (RMLD) William Seldon Asst. Director 01/07/21 38 yrs,4 mths Option C (RMLD) IRD Lorraine Barry Public Services 01/16/21 23 yrs, 6 mths Option B (Library) Michael Carroll Senior Tech 01/10/21 33 yrs, 7 mths Option C (RMLD) 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 transfer of funds to other systems: Jennifer Allard To Middlesex County Ret Board $22,313.41 3 yrs, 1 month (Human Resources - School) Christine Pizzi To Stoneham Retirement Board $24,088.66 8 yrs, 5 months (RMLD) SECCONDED 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 1815 ' a APPROVAL OF MISCELLANEOUS ITEMS • SHARON ANGSTROM moved to approve the October 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 October 2020 wire transfer from MMDT to Reading Co-op in the amount of$1,094,244.56. 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 • SHARON ANGSTROM moved to approve the Five (5) Year Lease Agreement for the Retirement office ipace at 2 Haven Street,Meading. ' 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 1816 = > APPROVAL OF INVOICES TO BE PAID SHARON ANGSTROM moved to approve the following warrant 4AP102020 totaling$1,094,244.90: Commonwealth of Mass. $ 570.65 RHA Health Ins.Deductions Commonwealth of Mass. $ 1,582.88 State Tax Deductions Commonwealth of Mass. $ 0.00 Child Support Internal Revenue Service $ 86,122.34 Federal Tax Deductions Reading Credit Union $ 45,961.00 Credit Union Deductions Oct Retirement Allowances $ 8315812.83 Net Retiree Payroll Town of Reading Treasurer $ 59,382.35 Hlth,Life,&Dental Ins. Deductions Town of Reading Treasurer $ 17,819.96 Oct Staff Salary&Benefits GWT Realty $ 3,045.64 Rent Law Office of Michael Sacco $ 620.00 Legal Expense-Misc Canon Financial Services $ 168.48 Service Contracts—Copier Reading Municipal Light Dept $ 90.93 Admin Expense—Electric National Grid $ 24.27 Admin Expense—Heat/Gas W.B. Mason Co., Inc. $ 112.76 Admin Expense—supplies Middlesex County Retirement Bd $ 22,313.41 Transfer to Other System-J. Allard Stoneham Retirement Board $ 24,088.66 Transfer to Other System-C. Piz i Colleen Loughlin, Petty Cash $ 81.60 Admin Expense—Postage Town of Reading $ 367.64 Admin Expense—Toner Cartridges(printer) Town of Reading $ 79.50 Service Contracts -Fax 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/OUESTIONS • Copies of the following Reading Retirement Board reports were emailed for review: The PRIT fund's monthly statement&fund performance for period ending Sept 30,2020 General Ledger Trial Balance as of Sept 30,2020 Cash Receipts, Adjustments, and Disbursements as of Sept 30,2020 Bank Reconciliation for the month ending Sept 30,2020 Reading Co-op Bank Statement for the month ending Sept 30,2020 MMDT Bank Statement for the month ending Sept 30, 2020 • The next regular board meeting is scheduled for Wednesday, November 25, 2020 at 9:30 AM, remote participation, in the Conference Room at 2 Haven Street, Unit 307, Reading,MA. MEMORANDUMS & LETTERS RECEIVED PERAC Memo#29/2020—Mandatory Retirement Board Member Training—4"Quarter 2020 PERAC Memo#30/2020—Compliance with the 2019 91 A Process PERAC Memo#31/2020—Appropriation Data Due October 31,2020 PERAC Mailing—Supplemental Dependent Allowances PERAC Annual Report 2019 OLD & NEW BUSINESS • The Board scheduled the monthly meeting dates for 2021. • Appeal letter was received from Endri Kume, Town Treasurer, regarding the Board's decision to deny his recent request for a stipend. A copy was forwarded to Board Arty. Michael Sacco for his review. OPEN SESSION FOR TOPICS NOT REASONABLY ANTICIPATED 48 HRS IN ADVANCE OF MEETING ADJOURNMENT • SHARON ANGSTROM moved to adjourn this open session at 10:42 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 1818 ' > Chairman Thomas A. Clough,2nd appointed 4(O'i&n f4 IFS Sharon M. Angstrom,Ex Offigio (- Q B Q C B.Rob�er�ts,/15S'appointed DaviA.Gentile, 151 elected seph ghlin,2"Tfileeted