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Home My WebLink About2020-09-23 Retirement Board Minutes C� Of'Nfq� N, Town of Reading -F 'eCEIVEfi Meeting Minutes TOWN CLERK REApIi7G, MA. `.ra:fxconvecv 1011 APR -1 P"12: 42 Board - committee - commission - council: Contributory Retirement Board Date: 2020-09-23 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 Endri Kume - Town Treasurer John Halsey Minutes Respectfully Submitted By: Elaine Kelly Topics of Discussion: Page I 1 1807 MINUTES OF THE READING RETIREMENT BOARD MEETING Wednesday September 23, 2020 The Reading Retirement Board held a regular session meeting on September 23, 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, Town Treasurer Endri Kume and John Halsey. MINUTES • Minutes from the July 22, 2020 regular session will be signed by all board members at a later date. • CAROL ROBERTS moved to accept the minutes from the August 26, 2020 regular session. SECONDED BY: DAVID GENTILE ROLL CALL VOTE: CAROL ROBERTS Aye DAVID GENTILE Aye JOSEPH COUGHLIN Aye THOMAS CLOUGH Aye VOTED: (4-0-1) ABSTAINED: SHARON ANGSTROM APPROVAL OF NEW MEMBERS, RETIREMENTS, TRANSFERS,AND REFUNDS • SHARON ANGSTROM moved to approve the following new member: ' Avantika Mehta Sr. Admin Asst. Date of hire—09/08/20 9%+2% Gr. I (Admin Services HR) Date of membership—09/08/20 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 _J 1808 • SHARON ANGSTROM moved to approve the following retirement applications: Kenneth Hughes Custodian 10/03/20 18 yrs, 1 mth Option C (School) Peter Ducey Lineman 01/07/21 34 yrs, 5 mths Option C (RMLD) Julie Johnston Executive Director 10/31/20 23 yrs, 8 mths Option A (Housing Authority) Patrick Wallace Firefighter 01/07/21 32 yrs, 5 mths Option A (Fire) 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 final calculation for the following retirements approved by PERAC: Mark Uvanni RMLD 06/30/20 22 yrs,3 mths Option C (Superannuation) Yearly: $ 55,847.52 Monthly: $ 4,653.96 Carmen O'Rourke School 06/30/20 27 yrs, 6 mths Option B (Superannuation) Yearly: $31,251.00 Monthly: $ 2,604.25 Illeana Napoli School 04/25/20 21 yrs, 7 mths Option A (Superannuation) Yearly: $19,144.80 Monthly: $ 1,595.40 Glenn D'Agata DPW-Sewer 04/02/20 12 yrs, 0 mths Option C (Superannuation) Yearly: $14,142.24 Monthly: $ 1,178.52 William Keenan School 02/12/20 37 yrs, 7 mths Option C (Superannuation) Yearly: $33,001.92 Monthly: $ 2,750.16 i 1809 ' ; 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 September 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 September 2020 wire transfer from MMDT to Reading Co-op in the am6unt of$1,054,895.65. ' 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 _1 1610 ' , • SHARON ANGSTROM moved to approve the Treasurer's request for a stipend. SECONDED BY: JOSEPH COUGHLIN ROLL CALL VOTE: SHARON ANGSTROM Aye CAROL ROBERTS No DAVID GENTILE No JOSEPH COUGHLIN No THOMAS CLOUGH No VOTED: (4-1-0) APPROVAL OF INVOICES TO BE PAID SHARON ANGSTROM moved to approve the following warrant#AP092020 totaling$1,056,479.56: Commonwealth of Mass. $ 570.65 RHA Health Ins. Deductions Commonwealth of Mass. $ 1,582.88 State Tax Deductions Commonwealth of Mass. $ 1,467.69 Child Support Internal Revenue Service $ 86,077.96 Federal Tax Deductions Reading Credit Union $ 46,811.00 Credit Union Deductions Sept Retirement Allowances $ 828,350.73 Net Retiree Payroll Town of Reading Treasurer $ 59,135.64 Hlth,Life, &Dental Ins. Deductions Town of Reading Treasurer $ 11,878.26 Sept Staff Salary& Benefits GWT Realty $ 3,045.64 Rent Law Office of Michael Sacco $ 2,575.00 Legal Expense-Misc Canon Financial Services $ 168.48 Service Contracts—Copier Reading Municipal Light Dept $ 104.98 Admin Expense—Electric National Grid $ 27.73 Admin Expense—Heat/Gas W.B. Mason Co., Inc. $ 100.79 Admin Expense—supplies Quddient Leasing USA, Inc. ' $ 514.98 Service Contracts-Postage Machine KMS Actuaries, LLC $ 4,900.00 Actuarial Services DiMeo Schneider&Associates $ 8,750.00 Investment Consultant Fee Town of Reading $ 417.15 Admin Expense—Software upgrade 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 lei 1 . ' ' INFORMATION/QUESTIONS • On September 14, 2020, PERAC notified this board that Charles D. Helmka was evaluated for possible return to service and PERAC's internal Nurse Case Manager determined that he is unable to perforin the essential duties of his job. • Copies of the following Reading Retirement Board reports were emailed for review: The PRIT fund's monthly statement& fund performance for period ending Aug 30,2020 General Ledger Trial Balance as of Aug 30,2020 Cash Receipts,Adjustments,and Disbursements as of Aug 30,2020 Bank Reconciliation for the month ending Aug 30,2020 Reading Co-op Bank Statement for the month ending Aug 30,2020 MMDT Bank Statement for the month ending Aug 30,2020 The next regular board meeting is scheduled for Wednesday, October 21, 2020 at 9:30 AM, remote participation, in the Conference Room at 2 Haven Street,Unit 307,Reading, MEMORANDUMS & LETTERS RECEIVED PERAC Memo#27/2020—Regular compensation and Creditable Service Stats of Certain Leaves PERAC Memo #28/2020—Tobacco Company List OLD & NEW BUSINESS The November Board meeting scheduled for November 25", the day before Thanksgiving, will remain on this date and time. OPEN SESSION FOR TOPICS NOT REASONABLY ANTICIPATED 48 HRS IN ADVANCE OF MEETING , ADJOURNMENT SHARON ANGSTROM moved to adjourn this open session at 10:04 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 _ j 1812 - , Ch ai Thmas A. Clgh,2""appointed S Sharon M. Angstrom,, Ex Ofiicii oj' ol Carol B. Roberts, I"appointed avid A. Gerrntile, 1"elected Q2al, �? )2phfCot(ghlin, 2"0 ected -, � l