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Home My WebLink About2025-05-21 Retirement Board MinutesREC Town of Reading TOWN�CLERK Meeting Minutes READING, MA. Board - committee - commission - council: 2025 SEP 2 9 PM 2 3 contributory Retirement Board Date: 2025-05-21 Time: 9:38 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 - Chairman Sharon Angstrom William Sweeney Richard Abate Members - Not Present: Laura Gemme Others Present: Elaine Kelly - Administrator Faye Cicci- Assistant Administrator Minutes Respectfully Submitted By: Faye Cicci Topics of Discussion: Page I 1 2125 MINUTES OF THE READING RETIREMENT BOARD MEETING Wednesday May 21, 2025 The Reading Retirement Board held a regular session meeting on May 21, 2025 in The Conference Room.. at 2 Haven Street, Unit 307, Reading, Massachusetts The meeting was called to order at 9:38 AM by Chairman David Gentile, with board members Sharon Angstrom, William Sweeney, Richard Abate, Administrator Elaine Kelly and Assistant Administrator Faye Cicci. Laura Gemme was unable to attend due to a prior commitment. MINUTES ° Minutes from the March 26, 2025 regular session were signed by all board members, except for Sharon Angstrom who was unable to attend due to a prior commitment. • Minutes from the March 26, 2025 special (COLA) session were signed by all board members, except for Sharon Angstrom who was unable to attend due to a prior commitment. ° Minutes from the April 22, 2025 regular session were to be read and approved by all board members, except Sharon Angstrom and David Gentile who were unable to attend due to a prior commitment. These were tabled to the June meeting in an effort to have a quomm for approval. APPROVAL OF NEW MEMBERS RETIREMENTS TRANSFERS, AND REFUNDS ° SHARON ANGSTROM moved to approve the following new members: Matthew Quigley Laborer (DPW- Highway) Donald Farrah- Hicks Laborer (DPW- Highway) Brian Hayes Dispatch (Police- Dispatch) Adam Elmore Patrol Officer (Police) SECONDED BY: WILLIAM SWEENEY VOTED: (4-0-0) UNANIMOUS Date of hire — 05/05/25 9%+2% Gr.I Date of membership — 05/05/25 Date of hire — 05/27/25 9%+ 2% Gr. I Date of membership — 05/27/25 Date of hire — 06/02/25 9%+ 2% Gr. I Date of membership — 05/06/24 Date of hire — 06/23/25 9%+2% Gr. 4 Date of membership — 06/23/25 2226. • SHARON ANGSTROM moved to approve the following retirement applications: Mark O'Brien DOR 5/17/25 Gregory Burns DOR 5/30/25 Paula O'Leary DOR 6/28/25 John Jenks DOR 7/31/25 SECONDED BY: WILLIAM SWEENEY VOTED: (4-0-0) UNANIMOUS APPROVAL OF MISCELLANEOUS ITEMS • SHARON ANGSTROM moved to approve the request from eligible member to purchase prior creditable service from the Town of Reading. Kathleen Drommey 09/25/12-01/24/16 2 years, 7 months The total principal purchase amount is $8,260.30. Kathleen will make a roll over lump sum payment of $3,843.40 on May 30, 2025. Kathleen will start payroll deductions of $40.09/pay period beginning June 6, 2025 for the balance of $4,416.90. SECONDED BY: WILLIAM SWEENEY VOTED: (4-0-0) UNANIMOUS • SHARON ANGSTROM moved to approved Eric Drauschke's "Application for Accidental Disability Retirement". The Reading Retirement Board received from PERAC the Medical Panel Certificates and Narratives by the regional medical panel for Erik Drauschke and were forward to Ally. Sacco for his review and opinion. The next step is for the Board to approve or deny Erik Drauschke's application. if approved, send to PERAC for their approval. If denied, send a Notice of Retirement Board Action to PERAC and a notice of rights to appeal to the member. SECONDED BY: WILLIAM SWEENEY VOTED: (4-0-0) UNANIMOUS • SHARON ANGSTROM moved to approve the May 2025 wire transfer from PRIM to MMDT in the amount of $750,000.00 SECONDED BY: WILLIAM SWEENEY VOTED: (4-0-0) UNANIMOUS 2227 • SHARON ANGSTROM moved to approve the May 2025 wire transfer from MMDT to Reading Co- op in the amount of $1,142,775.66 SECONDED BY: RICHARD ABATE VOTED: (4-0-0)UNANIMOUS • SHARON ANGSTROM moved to approve the Annual Statement for PERAC for calendar year ended December 31, 2024. SECONDED BY: RICHARD ABATE VOTED: (4-0-0) UNANIMOUS APPROVAL OF INVOICES TO BE PAID SHARON ANGSTROM moved to approve the following warrant #AP052025 totaling $1,319,818.11 SECONDED BY: RICHARD ABATE VOTED: (4-0-0) UNANIMOUS • Joseph Veno, who worked for the Police Department and retired on September 7, 2001 passed away on April 27, 2025. He chose Option A at his retirement, Benefits cease upon his death. Dennis Farrell, who worked for the Police Dept. and retired on October 6, 1995 passed away on March 16, 2025. Dennis chose Option A when he retired on an Accidental Disability under the Heart Law. His spouse, Ellen is entitled to an annual allowance under Section 101 of M.G.L. c.32 of $9,000. This allowance will continue as long she lives. If the member's death is found to be directly related to the injury or hazard for which he was retired, then she would receive the pension portion of his retirement allowance plus any applicable cost -of -living increases, rather than the $9,000 annual allowance. The Administrator has sent this information to the spouse along with an application to apply for the accidental death benefit. Once the application and the death certificate are received in the Retirement office, the Administrator will forward to Arty. Sacco for review. Arty. Sacco opines, after reviewing the Death Certificate and the original Medical Panel Certificate from when Mr. Farrell retired, it is not clear to him there is a causal link and recommends we request the widow to provide medical records from the last 5 years. If the link is not apparent in those records, we would then ask PERAC to appoint a neutral physician to conduct a record review and offer an opinion. Arty. Sacco also suggests the widow provide a letter from a treating physician who opines there is a causal connection and explains why; just saying it is related is not much better than an educated guess unless there is some explanation. Alternatively, Any Sacco suggests bringing it to the Board to see if they want to grant it. Any Sacco says he can recommend that, but if that is what they 2228 want to do, he will draft the findings as best he canto support it— but his recommendation is to follow the path laid out. The Board Administrator will request medical records from Mr. Farrell spouse for the Board's review. • A check was received from the following Boards for full payment of its Section 3(8)(c) reimbursement. - Andover - Arlington - Woburn - Belmont - Beverly - Worcester - Boston - Danvers - Worcester Regional - Essex - Everett - Cambridge - Fall River - Gloucester - Lawrence - Lexington - Lynn - Marlborough - Mass Teachers - Medford - Middlesex - Newton - Peabody - Salem - Saugus - Somerville - Stoneham - Taunton - Wakefield - Winchester • As of May 15, 2025, the balance in the MMDT account is $3,493,067.76. • Copies of the following Reading Retirement Board reports were entailed for review: The PRIT fund's monthly statement & fund performance for period ending April 30, 2025 General Ledger Trial Balance as of April 30, 2025 Cash Receipts, Adjustments, and Disbursements as of April 30, 2025 Bank Reconciliation for the month coding April 30, 2025 Reading Co-op Bank Statement for the month ending April 30, 2025 MMDT Bank Statement for the month ending April 30, 2025 Bank Reconciliation for wire amount with current balance of bank accounts • The next regularboard meeting is scheduled for Wednesday June 25, 2025 at 9:30 AM, in the Conference Room at 2 Haven Street, Unit 307, Reading, MA. MEMORANDUMS'&'LETTERS RECEIVED OLD BUSINESS RMLD update — Gregory Phipps from RMLD will present the latest job descriptions in question at the June 25, 2025 Board meeting. Arty. Sacco will be present. 2229 The Board approved to table the request for Thomas Schibilio's "Application for Accidental Disability Retirement" to the May 21, 2025 Board meeting in an effort to seek clarification from the Medical Panel regarding concems that Arty. Sacco had expressed in his opinion letter to the Board. The Board approved Arty. Sacco to provide a clarification request for the Medical Panel, Any. Sacco provided those clarification questions to the Administrator who forwarded those clarification questions to PERAC via PROSPER. We have received 2 of the 3 clarification requests back from the Medical Panel. When complete, the Administrator will forward those to Atty. Sacco for his review. • SHARON ANGSTROM moved to keep $750,000 for the PRIT Automatic Redemption and Monthly Maintenance amount SECONDED BY; RICHARD ABATE VOTED: (4-0-0) UNANIMOUS MISCELLANEOUS OPENSESSION 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 Ben of discussion in Executive Session. ADJOURNMENT • SHARON ANGSTROM moved to adjourn this open session at 10:16 AM., SECONDED BY: RICHARD ABATE VOTED: (4-0-0) UNANIMOUS 2230 QA hairmazt avid A. Gentile, I"elected fitif L hay►^' Sharon M. Angstrom, Ex Ofroio La/u�ra' A. Get�mme, 2" elected (ABSENT) K/.0 Qtasw �C �`eCesVrti� William E. Sween�� - ey, J 2- appointed -�-rr��am Rlawd . Abate, 1" appointed