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HomeMy WebLinkAbout2023-07-26 Retirement Board MinutesOWN Of Rf�O +" Town of Reading o a Meeting MinutesFry`nr C(EC 44 Board - Committee - Commission - Council: OCJ /S P H °0/ Contributory Retirement Board Date: 2023-07-26 Time: 9:33 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: David Gentile -via remote Carol Roberts Sharon Angstrom John Halsey Robert Beck Members - Not Present: Others Present: Colleen Loughlin - Board Administrator Elaine Kelly - Asst Board Administrator Minutes Respectfully Submitted By: Elaine Kelly Topics of Discussion: Page 1 1 2080 4 - MINUTES OF THE READING RETIREMENT BOARD MEETING Wednesday July 26, 2023 The Reading Retirement Board held a regular session meeting on July 26, 2023 in The Conference Room, at 2 Haven Street, Unit 307, Reading, Massachusetts The meeting was called to order at 9:33 AM by Vice Chair Carol Roberts with board members Sharon Angstrom, John Halsey, Robert Beck, Administrator Colleen Loughlin and Assistant Administrator Elaine Kelly. Chairman David Gentile participated remotely via conference call. MINUTES • Minutes from the May 24, 2023 regular session were signed by all members. • SHARON ANGSTROM moved to approve the minutes from the June 26, 2023 regular session. SECONDED BY: ROBERT BECK ROLL CALL VOTE: SHARON ANGSTROM Aye ROBERT BECK Aye DAVID GENTILE Aye VOTED: (3-0-2) ABSTAINED: JOHN HALSEY CAROL ROBERTS APPROVAL OF NEW MEMBERS RETIREMENTS, TRANSFERS, AND REFUNDS • SHARON ANGSTROM moved to approve the following new members: Justin LaFauci Laborer Date of hire — 06/26/23 9%+2% Or.I (DPW -Water) Date of membership — 06/26/23 Katie Gabriello Executive Asst Date of hire — 07/10/23 9%+ 2% Or. 1 (Opertions) Date of membership — 07/10/23 Rebecca Mauro Laborer Date of hire — 07/24/23 9%+ 2% Or. 1 (DPW -Sewer) Date of membership — 07/24/23 Edward Shambo III Rec Coordinator Date of hire — 07/24/23 9%+ 2% Or. 1 (Public Svcs) Date of membership — 07/24/23 Ernma Heuchert Library Date of hire - 8/7/23 9%+2% Or. I (Library) Date of membership — 8/7/23 2081 =, SECONDED BY: ROBERT BECK ROLL CALL VOTE: SHARON ANGSTROM Aye JOHN HALSEY Aye ROBERT BECK Aye DAVID GENTILE Aye CAROL ROBERTS Aye VOTED: (5-0-0) UNANIMOUS Note: The Chairman inquired as to what department the Executive Asst for Operations is under. Sharon Angstrom stated that it's in the Administrative Services Dept. • SHARON ANGSTROM moved to approve the transfer of funds to other system Daniel Rio To Essex Regional Retirement System 6 years, 6 months Brett McCoy To Middlesex County Retirement System 3 years, I month Allison Jenkins To Everett Retirement System 17 years, 0 months SECONDED BY: ROBERT BECK ROLL CALL VOTE: SHARON ANGSTROM Aye JOHN HALSEY Aye ROBERT BECK Aye DAVID GENTILE Aye CAROL ROBERTS Aye VOTED: (5-0-0)UNANIMOUS • SHARON ANGSTROM moved to approve the following retirement application: Maurice Hillis, Jr. (School Facilities) - DOR 06/30/23 SECONDED BY: ROBERT BECK ROLL CALL VOTE: SHARON ANGSTROM Aye JOHN HALSEY Aye ROBERT BECK Aye DAVID GENTILE Aye CAROL ROBERTS Aye VOTED: (5-0-0) UNANIMOUS 2082 APPROVAL OF MISCELLANEOUS ITEMS (5-0-0)UNANIMOUS SHARON ANGSTROM moved to approve the July 2023 wire transfer from PRIM to MMDT SECONDED BY: ROBERT BECK ROLL CALL VOTE: SHARON ANGSTROM Aye JOHN HALSEY Aye ROBERT BECK Aye DAVID GENTILE Aye CAROL ROBERTS Aye VOTED: (5-0-0)UNANIMOUS • SHARON ANGSTROM moved to approve the July 2023 wire transfer from MMDT to Reading Co-op. SECONDED BY: ROBERT BECK SECONDED BY: ROBERT BECK JOHN HALSEY ROLL CALL VOTE: SHARON ANGSTROM Aye DAVID GENTILE JOHN HALSEY Aye Aye ROBERT BECK Aye DAVID GENTILE Aye CAROL ROBERTS Aye VOTED: (5-0A) UNANIMOUS APPROVAL OF INVOICES TO BE PAID SHARON ANGSTROM moved to approve warrant #AP072023 SECONDED BY: ROBERT BECK ROLL CALL VOTE: SHARON ANGSTROM Aye JOHN HALSEY Aye ROBERT BECK Aye DAVID GENTILE Aye CAROL ROBERTS Aye VOTED: (5-0-0)UNANIMOUS z 2083 ''' INFORMATION/QUESTIONS • To date, we have received 377 of 388 Annual Affidavits. Phone calls have been made by the Assistant Administrator to reach those that have not complied, however there are 2 retirees that the Assistant has not been able to get in touch with. The Chairman will attempt to contact one of these retirees and a Registered Certified letter will be mailed to the other. • As of July 20, 2023, the balance in the MMDT account is current. • A check was received from the following Boards for full payment of its Section 3(8)(c) reimbursement. - Worcester Retirement Board - Danvers Retirement Board • A transfer amount of $4,597.14 dated 06/30/23 was received from the Middlesex County Retirement System for Amir Hamdi Hassan. The Middlesex County Retirement System will accept liability for I l months and 4 days. • Kathleen Miksis chose Option C at her retirement on May 22, 2020 and her spouse passed away on July 3, 2023. Calculation (Option C "pop-up") was sent to PERAC for approval. • Diane Williamson, who worked for the School Dept. and retired on August 10, 1998 passed away on June 27, 2023. She chose Option B at her retirement but there are no remaining funds. • On June 26, 2023, PERAC notified this board that Linda M Polcari was evaluated for possible return to service and PERAC's internal Nurse Case Manager determined that she is unable to perform the essential duties of herjob. • On July 18, 2023, PERAC notified this board that Mark D Segalla was evaluated for possible return to service and PERAC's internal Nurse Case Manager determined that he is unable to perform the essential duties of his job. • Copies of the following Reading Retirement Board reports will be emailed for review: The PRIT fund's monthly statement & fund performance for period ending June 30, 2023 General Ledger Trial Balance as of Jane 30, 2023 Cash Receipts, Adjustments, and Disbursements as of June 30, 2023 Bank Reconciliation for the month ending June 30, 2023 Reading Co-op Bank Statement for the month ending June 30, 2023 MMDT Bank Statement for the month ending June 30, 2023 Bank Reconciliation for wire amount with current balance of bank accounts • The next regular board meeting is scheduled for Wednesday August 23, 2023 at 9:30 AM, in the Conference Room at 2 Haven Street, Unit 307, Reading, MA. 2884 MEMORANDUMS & LETTERS RECEIVED PERAC Memo #14/2023 — Tobacco Company List PERAC Memo #15/2023 - 91A Prosper Tasks PERAC Memo #16/2023 — Mandatory Retirement Board Member Training — 3's Quarter 2023 PERAC Memorandum — Updated Information for Inclusion in Appealable Decisions Email from Fiducient Advisors — Introducing new CEO, Sabrina Baileyjoining the firm on July 31, 2023 Fiducient Advisors — May Flash Report DALA — Final Decision — Dismissal for Johanna Roman's appeal PERAC approval of Revised Supplemental Regulation regarding membership OLD BUSINESS • SHARON ANGSTROM moved to approve to appeal the reinstatement date pursuant to the recent DALA decision regarding Janet Walsh (RMLD). SECONDED BY: ROBERT BECK ROLL CALL VOTE: SHARON ANGSTROM Aye JOHN HALSEY Aye ROBERT BECK Aye DAVID GENTILE Aye CAROL ROBERTS Aye VOTED: (5-0-0)UNANIMOUS • Continued Retirement office topics, including but not limited to: a) Office Staff Performance Reviews — Sharon Angstrom will email, to the Board members, the blank evaluation form for the Administrator to be completed and returned to Sharon Angstrom before the September Board meeting. She will also email, to the Board, the blank evaluation form regarding the Assistant Administrator, for any basic comments they may have and return them to the Chairman. The Administrator and Chairman will coordinate a time to meet with the Assistant Administrator for her review before the September meeting. The Board will hold the Administrator's review during the September Board meeting in open session and than convene in executive session to discuss pay strategy and negotiate compensation. This will then become part of the budget process in October and any compensation will be effective January 1 of the next calendar year. 2085 ='' b) The Chairman will attempt to schedule pre -meetings once a month with the Administrator to try to keep conversation going for different things. The board members must let the office staff know the basic reason why you cannot attend a particular meeting. This is in an effort to be proactive rather than reactive for the auditors. Carol Roberts asked if the Board members should go back in 2022 and 2023 to state a reason for their absence. The Chairman thinks that this is a good idea, for the auditors, should they inquire. The administrator states that the auditors' standard practice is that the Board members must attend 75% of the meetings during a calendar year. The Administrator states that there is a finding for this. c) TV Installation and electrical outlet in the conference room — this is not a town building therefore; an electrician may need to be hired. The Chairman will have another discussion with the Head of Facilities, in order to facilitate this task. The Chairman is hoping for this installation to happen in August. d) The Chairman inquired if the two retirees, who did not comply with the submission of their Statement of Earnings, had done so at this point. The Administrator stated that one did comply and the other did not. This retiree will receive a termination letter. e) General Calendar — the Administrator will keep a yearly calendar of certain things that will happen during the course of the year. NEW BUSINESS MISCELLANEOUS OPEN SESSION FOR TOPICS NOT REASONABLY ANTICIPATED 48 HRS IN ADVANCE OF MEETING The Board reserves the right to consider items on the agenda out of order. The listing of items is those reasonably anticipated by the Chair to be discussed, received at least forty-eight (48) hours prior to the meeting. Not all items listed may in fact be discussed and other items not listed may also be brought up for discussion to the extent permitted by law. Items identified for discussion in Executive Session may be conducted in open session, in addition to, or in lieu of discussion in Executive Session.