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Home My WebLink About2022-10-20 Retirement Board Minutes�N f RfgO O � Town of Reading �a� 3 i Meeting Minutes 6J9'pCOPp�� Board - Committee - commission - Council: Date: 2022-10-20 Building: Reading Retirement Administration Address: 2 Haven Street Unit 307 Purpose: General Business Attendees: Members - Present: David Gentile Carol Roberts John Halsey Robert Beck Minutes RECEIVED TOWN CLERK READING, MA. K� 2923 MAR -7 PM 12:12 Time: 12:00 AM Location: Conference Room Session: Open Session Version: Final Members - Not Present: Sharon Angstrom Others Present: Colleen Loughlin - Board Administrator Elaine Kelly - Asst Board Administrator Topics of Discussion: Submitted By: Elaine Kelly Page I 1 201 o MINUTES OF THE READING RETIREMENT BOARD MEETING Thursday October 20, 2022 The Reading Retirement Board held a regular session meeting on October 20, 2022 in The Conference Room at 2 Haven Street, Unit 307, Reading, Massachusetts The meeting was called to order at 12:00 P.M. by Chairman David Gentile with board members Carol Roberts, John Halsey, Robert Beck, Board Administrator Colleen Loughlin, Assistant Board Administrator Elaine Kelly and Arty. Christopher Collins. Sharon Angstrom was unable to attend. OPEN SESSION • CAROL ROBERTS motioned to move into executive session. SECONDED BY: ROBERT BECK ROLL CALL VOTE: CAROL ROBERTS Aye JOHN HALSEY Aye ROBERT BECK Aye DAVID GENTILE Aye VOTE: (4-0-0) UNANIMOUS Evidentiary hearing regarding the Involuntary Accidental Disability Retirement Application of Firefighter Bruce Ayer was conducted in executive session as requested by the member. Attorney Christopher Collins presided over the hearing. OPEN SESSION Attorney Collins provided an update on the Janet Walsh appeal. Janet Walsh is appealing her re -instatement date of employment with RMLD, after retiring from the Massachusetts Water Resource Authority (MWRA) and has filed an appeal with Division of Administrative Law Appeals (DALA). Attorney Sacco's office filed the Board's Motion for Summary with DALA, where it sits waiting for DALA's ruling. OPEN SESSION FOR TOPICS NOT REASONABLY ANTICIPATED 48 HRS IN ADVANCE OF MEETING The Retirement office was notified by the Office of the Attorney General, via PERAC, of a criminal complaint regarding one of its members. The Administrator will follow up with PERAC and look for guidance from the Board's legal counsel. Arty. Collins advised the Administrator to notify PERAC of receipt of the notice, stating that if the Reading Retirement Board obtains any additional information they will pass it along to PERAC and asking if PERAC could do the same. _J 201 1 ='- MINUTES • Minutes from the September 8, 2022 special session were signed by all board members. • CAROL ROBERTS moved to approve the minutes from the August 24, 2022 regular session. SECONDED BY: JOHN HALSEY VOTED: (3-0-0) ABSTAINED: ROBERT BECK • CAROL ROBERTS moved to table the minutes from the September 21, 2022 regular session, in an effort to have a quomm. SECONDED BY: DAVID GENTILE VOTED: (4-0-0) UNANIMOUS APPROVAL OF NEW MEMBERS, RETIREMENTS, TRANSFERS, AND REFUNDS • CAROL ROBERTS moved to approve the following new members David Blanco Dispatcher Date of hire — 9/26/22 9%+2% Or. 1 (Public Safety) Date of membership — 9/26/22 Brett Blomquist Dispatcher Date of hire — 9/26122 90/.+2% Or. I (Public Safety) Date of membership 19/26/22 Robert Hutchins Police Officer Date of hire — 10/3/22 9%+2% Or. 4 (Police) Date of membership — 10/3/22 (transfer from State) Andrew Schmitz Police Officer Date of hire — 10/3/22 9%+2% Or. 4 (Police) Date of membership — 11/28/20 (transfer from Boston) SECONDED BY: ROBERT BECK VOTED: (4-0-0) UNANIMOUS • CAROL ROBERTS moved to approve the following retirement applications: John Goodwin Custodian 10/03/22 15 yrs, 0 mths Option C (School) Jean Delius Asst Town Mgr 02/02/23 34 yrs, 4 mths Option C (Public Services) __j 20'12 George Mansfield III Custodian 12/02/22 44 yrs, 7 mths Option B (Town Custodian) SECONDED BY: ROBERT BECK VOTED: (4-0-0) UNANIMOUS • CAROL ROBERTS moved to approve the following transfer of funds to other systems: Patrick Sullivan To Mass Teachers Retirement Board $15,104.20 3 years, 2 mths (Dispatch) Joshua Edwards To Essex Regional Retirement Board $ 6,723.61 1 yew, 8 mths (Dispatch) Gail Dowd To Concord Retirement Board $72,148.46 5 years (School)r^.'" SECONDED BY: ROBERT BECK VOTED: - . (4 -OA) UNANIMOUS APPROVAL OF MISCELLANEOUS ITEMS • CAROL ROBERTS moved to approve request from eligible member to purchase prior creditable service from the Town of Reading: Marianna Comente Town of Reading 6/20/11-6/24122 2 years, 3 mths The total principal purchase amount is $5,572.76. Marianna will make a one lump sum payment. SECONDED BY: ROBERT BECK VOTED: (4-0-0) UNANIMOUS • CAROL ROBERTS moved to approve a request from eligible member to purchase prior creditable service from the Town of Reading: Matthew Edson Town of Reading 01/13/89-12/17/89 9 mths The total principal purchase amount is $2,375.95. Matt will make payment through payroll deductions SECONDED BY: ROBERT BECK VOTED: (4-0-0) UNANIMOUS 2013;-. • CAROL ROBERTS moved to approve the October 2022 wire transfer from PRIM to MMDT in the amount of $750,000.00. SECONDED BY: ROBERT BECK VOTED: (4-0-0) UNANIMOUS • CAROL ROBERTS moved to approve the October 2022 wire transfer from MMDT to Reading Co- op in the amount of $1,241,656.03. SECONDED BY: ROBERT BECK VOTED: (4-0-0) UNANIMOUS • Review and discuss the 2023 Calendar Year Budget for Board approval will continue at the November regular Board meeting. • CAROL ROBERTS motioned to approve moving forward to an Evidentiary Hearing for the Involuntary Accidental Disability Retirement Application of Firefighter Robert Drake. SECONDED BY: ROBERT BECK VOTED: (4-M) UNANIMOUS APPROVAL OF INVOICES TO BE PAID • CAROL ROBERTS moved to approve the following warrant #AP 102022 totaling $1,299,398.41: Commonwealth of Mass. $ 1,034.78 RHA Health Ins. Deductions Commonwealth of Mass. $ 1,542.88 State Tax Deductions Internal Revenue Service $ 100,204.16 Federal Tax Deductions Reading Credit Union $ 50,161.00 Credit Union Deductions Commonwealth of Mass. $ 332.55 Department of Revenue- Tax Levy Commonwealth of Mass. $ 502.67 Child Support Reading Retirement Board $ 88.40 Dep Allow overpayment—E. Blackman October Retirement Allowances $ 950,598.68 Net Retiree Payroll Town of Reading Treasurer $ 71,127.92 Hlth, Life, & Dental Ins. Deductions Town of Reading Treasurer $ 12,781.20 October Staff Salary & Benefits Town of Reading Treasurer $ 253.63 Board Stipend/Treasurer Stipend GWT Realty $ 3,083.00 Rent Law Office of Michael Sacco $ 4,404.00 Legal Expense - Misc Canon Financial Services $ 168.48 Service Contracts — Copier Reading Municipal Light Dept $ 95.29 Admin Expense — Electric National Grid $ 26.49 Admin Expense — Heat/Gas Fiducient Advisors $ 8,750.00 Investment Consultant Fee Massachusetts Teachers' Ret Bd $ 15,104.20 Transfer to Other System — P. Sullivan Essex Regional Retirement Bd $ 6,723.61 Transfer to Other System — J. Edwards Concord Retirement Board $ 72,148.46 Transfer to Other System — G. Dowd W.B. Mason Co. Inc. $ 267.01 Amin. Expenses—office supplies 201 4 SECONDED BY: ROBERT BECK VOTED: (4-0-0) UNANIMOUS INFORMATION/OUESTIONS • The engagement letter from Murphy Hesse Toomey & Lehane, LLP was signed by the Chairman. The Administrator will send it to Arty. Kier Wachterhauser. • A transfer amount of $310.57 dated 9/30/22 was received from Middlesex County Retirement System for Evan Loreth..No additional creditable service. • A transfer amou t of $137.43 dated 9/30/22 was received from Middlesex County Retirement System for Patrick Ste. No additional creditable service. • A transfer amount of $39,795.38 dated 9/30/22 was received from the Watertown Retirement System for Arielle Camey. The Watertown Retirement System will accept liability for 6 years and 10 months of creditable service. • As of October 17, 2022, the balance in the MMDT account is $3,953,597.78. • 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, 2022 General Ledger Trial Balance as of Sept 30, 2022 Cash Receipts, Adjustments, and Disbursements as of Sept 30, 2022 Bank Reconciliation for the month ending Sept 30, 2022 Reading Co-op Bank Statement for the month ending Sept 30, 2022 MMDT Bank Statement for the month ending Sept 30, 2022 Bank Reconciliation for wire amount with current balance of bank accounts • The next regular board meeting is scheduled for Wednesday, November 23, 2022 at 9:30 AM, in the Conference Room at 2 Haven Street, Unit 307, Reading, MA. The Board has requested that the scheduled Board meeting for November 23, 2022 be changed to Monday, November 21, 2022 at 9:30 AM to include the Evidentiary Hearing of Firefighter Robert Drake. The Retirement office staff will coordinate. 2015 MEMORANDUMS & LETTERS RECEIVED PERAC Memo #24/2022 — Mandatory Retirement Board Member Training — 41h Quarter, 2022 PERAC Memo #25/2022 — Tobacco Company List PERAC — Scam Alert PERAC Memo #26/2022 — Appropriation Data Due October 31, 2022 OLD BUSINESS SCAM Alert — The Board has authorized the Retirement office to send to all retirees, active and non- active members. ADJOURNMENT • CAROL ROBERTS moved to adjourn this open session at 2:20 PM: t SECONDED BY: ROBERT BECK VOTED: (4-0-0) UN O S 4,m hairman Dak�AG,,W,,Ielelected