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HomeMy WebLinkAbout2023-09-25 Retirement Board Minutes - Executive SessionOrR ° �� Town of Reading RECEIVED EK Meeting Minutes ROARING M K '6J 'Ig00A Board - Committee - Commission - Council: 202�JUN-5 PN12�22 Contributory Retirement Board Date: 2023-09-25 Time: 11:00 AM Building: Reading Retirement Administration Location: Conference Room Address: 2 Haven Street Unit 307 Session: Executive Session Purpose: General Business Version: Final Attendees: Members - Present: David Gentile, Chairman Sharon Angstrom Carol Roberts RobertBeck Members - Not Present: John Halsey Others Present: Colleen Loughlin, Administrator Elaine Kelly, Asst Administrator Minutes Respectfully Submitted By: Elaine Kelly Topics of Discussion: Page 1 1 56 - MINUTES OF THE READING RETIREMENT BOARD MEETING EXECUTIVE SESSION September 25, 2023 Present at this executive session were the following individuals David A. Gentile, Chairman Carol B. Roberts Sharon M. Angstrom Robert L. Beck Colleen Loughlin, Admin Elaine Kelly, Asst Admin John Halsey was unable to attend. The hearing was recorded and is considered to be a part of the minutes. EXECUTIVE SESSION • Discussion regarding Sean Wilson v. Reading Retirement Board — Military Buyback Reading Retirement System has a supplemental regulation stating that a veteran must purchase their military time within a 10 -year window from their membership date and if you don't, then you forfeit your right to purchase the vetemn's time. All veterans should be given 180 days from enrollment to sign the form stating that they may be interested in purchasing this time. If the veteran does not sign the form, they will never be eligible to purchase the military time. It was noted that not all Boards give their veterans this form. Under PERAC's guidance, Reading Retirement advises that it's in their best interest to sign the form at enrollment, allowing them to purchase the time at some point, within that 10 -year window, if they choose to. Sean had been denied the right to purchase his veteran's time because the I0 -year window had expired. Sean appealed that decision. At that time, he was on active duty so this got postponed. This member is now inactive; however, he was active when he appealed the Retirement Board's ruling. This case is getting reading to come full circle again. There's a case law coming down the path that challenges this 180 -day window. DALA claims that PERAC interpreted the law incorrectly, in that Reading gave the form prematurely and that it should be given to the veteran when they become vested, which is 10 years of membership. Any. Sacco advises that the Board may want to let this go, if this is where the path may lead. This would change the validity of the supplemental regulation with the Reading Retirement Board. + SHARON ANGSTROM moved to approve dropping the appeal process SECONDED BY: ROBERT BECK VOTED: (4-0-0) UNANIMOUS The Administrator will email Ally. Sacco. He will notify the court. • Discussion about pay strategy and negotiated compensation for performance reviews. Sharon Angstrom told the Board that the Town was discussing a 1.25% COLA for Town employees and that it is not always only 2% between steps on the Town's Compensation Plan. + SHARON ANGSTROM moved to approve a 2% COLA and one step (2%) for the Administrator and the Assistant Administrator, which would be a 4% increase in compensation. SECONDED BY: ROBERT BECK VOTED: (4-0-0) UNANIMOUS The Board voted again, with a roll call vote, regarding the Scan Wilson is. Reading Retirement Board and the purchase of his military service. • SHARON ANGSTROM moved to approve dropping the appeal process SECONDED BY: ROBERT BECK ROLL CALL VOTE: CAROL ROBERTS AYE SHARON ANGSTROM AYE ROBERTBECK AYE DAVID GENTILE AYE VOTED: (4 -")UNANIMOUS The Board voted again, with a roll call vote, on the pay strategy and negotiated compensation for performance reviews. • SHARON ANGSTROM moved to approve a 2% COLA and one step (2%) for the Administrator and the Assistant Administrator, which would be a 4% increase in compensation. SECONDED BY: ROBERT BECK ROLL CALL VOTE: DAVID A. GENTILE AYE CAROL B. ROBERTS AYE ROBERT L. BECK AYE SHARON M. ANGSTROM AYE VOTED: (4-0-0) UNANIMOUS + SHARON ANGSTROM made a motion to return to Open Session. SECONDED BY: ROBERT BECK ROLL CALL VOTE: DAVID A. GENTILE AYE CAROL B. ROBERTS AYE ROBERT L. BECK AYE SHARON M. ANGSTROM AYE VOTED: (4-0-0) UNANIMOUS Robert L. Beck, 2"d elected John R. Halsey, 2nd appointed (ABSENT) J