HomeMy WebLinkAbout2017-12-19 Retirement Board Minutes - Executive SessionPq�Di
Town of Reading
RECEIVED
5� Meeting Minutes
49
TOWN CLERK
�_.
READING, �.
Board - committee - commission - council:
2824 JUN -5 PM 12: 21
contributory Retirement Board
Date: 2017-12-19
Time: 5:02 PM
Building: Reading Retirement Administration
Location: Conference Room
Address: 2 Haven Street Unit 307
Session: Executive Session
Purpose: General Business
Version: Final
Attendees: Members - Present:
Joseph Veno, Chairman
Thomas Clough, Vice Chairman
Sharon Angstrom
Carol Roberts
David Gentile
Members - Not Present:
Others Present:
Colleen Loughlin, Administrator
Elaine Kelly, Asst Administrator
Minutes Respectfully Submitted By: Elaine Kelly
Topics of Discussion:
Page 1 1
24 • =`
MINUTES OF THE READING RETIREMENT BOARD MEETING
EXECUTIVE SESSION
December 19, 2017 at 5:02 P.M.
Present at this executive session are the following individuals:
Joseph R. Veno, Chairman
Thomas A. Clough, Vice Chairman
Sharon A. Angstrom
Carol B. Roberts
David A. Gentile
Colleen Loughlin, Retirement Board Administrator
Elaine Kelly, Assistant Retirement Board Administrator
The hearing was recorded and is considered to he a part of the minutes.
e SHARON ANGSTROM motioned to utilize Attorney Sacco to get as much funds recouped
for the Retirement Board in the case of Lisa Palermo vs Andover Small Engine Service.
SECONDED BY
ROLL CALL VOTE:
VOTED:
DAVID GENTILE
JOSEPH VENO
Aye
THOMAS CLOUGH
Aye
SHARON ANGSTROM
Aye
CAROL ROBERTS
Aye
DAVIDGENTILE
Aye
(5-0-0) UNANIMOUS
The Board discussed the Palermo third party litigation and agreed with Attorney Sacco's
recommended strategy regarding the Board's position regarding the third party offset.
Attorney Sacco will represent to Attorney Conley that the Board's position is that, "the
Board has a statutory right to offset any settlement or judgment amount that pertains to lost
wages, and if there are meaningful settlement discussions the Board requests to be kept
informed. If this matter goes to trial and lost wages are awarded, the Board will apply its
offset against that jury -determined amount"
• SHARON ANGSTROM moved to adjoum to open session.
SECONDED BY: DAVID GENTILE
.1,-2. ` ,
ROLL CALL VOTE: JOSEPH VENO
Aye
THOMAS CLOUGH
Aye
SHARON ANGSTROM
Aye
CAROL ROBERTS
Aye
DAVID GENTILE
Aye
VOTED: (5-0-0) UNANIMOUS
Reconvened in open session at 5:15 P.M.
an, Joseph
,R.�Veno, 2 elected
Sharon M. Angstrom, Ex Ufficio