HomeMy WebLinkAbout2025-03-26 Retirement Board Minutes - Special SessionTown of Reading TOWN Meeting Minutes 0 READING, MA.
Board -Committee - Commission -Council: 2625 SEP 29 PM 24 3G
Contributory Retirement Board
Date: 2025-03-26 Time: 9:30 AM
Building: Reading Retirement Administration
Address: 2 Haven Street Unit 307
Purpose: General Business
Attendees: Members - Present:
David Gentile-Chalrman
Robert Beck
William Sweeney
Richard Abate
Members - Not Present:
Sharon Angstrom
Others Present:
Location: Conference Room
Session: Open Session
Version: Final
Elaine Kelly - Administrator
Faye Ciccl- Assistant Administrator
Minutes Respectfully Submitted By: Faye Cicci
Topics of Discussion:
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MINUTES OF THE READING RETIREMENT BOARD MEETING
Wednesday March 26, 2025
The Reading Retirement Board held a special session meeting on March 26, 2025 in The Conference
Room,, at 2 Haven Street, Unit 307, Reading, Massachusetts.
The meeting was called to order at 9:30 A.M. by Chairman David Gentile with board members Robert
Beck, William Sweeney, Richard Abate, Administrator Elaine Kelly, Assistant Administrator Faye Cicci
and Laura Gemme. Sharon Angstrom was unable to attend due to a prior commitment.
APPROVAL OF MISCELLANEOUS ITEMS
WILLIAM SWEENEY moved to approve a 3% COLA increase for FY2026. This begins on July 1,
2025 and ends June 30, 2026, which is reflected in the July 1, 2021 actuarial valuation. It is limited
to a maximum amount of 3% of $14,000.
SECONDED BY: ROBERT BECK
VOTED: (4-0-0) UNANIMOUS
ADJOURNMENT
• ROBERT BECK moved to adjourn this open session at 9:31 AM
SECONDED BY: WILLIA!
VOTED: (4-0-0)
Robert L. B&K 2nd elected
William E. Sweeney, Jr. V \1f
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Richard Abate, 2 appointed