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Home My WebLink About2025-02-19 Retirement Board Minutestown or iceaciing REF41VED Meeting Minutes TOWN CLERK *W, READING, MA. Board - committee - commission - council: 2825 SEP 29 PM 2: 9- Contributory Retirement Board Date: 2025-02-19 Tlme: 9:30 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 Robert Beck William Sweeney Richard Abate Members - Not Present: Others Present: Elaine Kelly - Administrator Faye Ciccl- Assistant Administrator Minutes Respectfully Submitted By: Faye Cicd Topics of Discussion: Pege I 1 22O0 MINUTES OF THE READING RETIREMENT BOARD MEETING Wednesday February 19, 2025 The Reading Retirement Board held a regular session meeting on February 19, 2025 in TheConterencc Room at 2 Haven Street, Unit 307, Reading, Massachusetts The meeting was called to order at 9:30 AM by Chairman David Gentile, with board members Sharon Angstrom, Robert Beck, William Sweeney, Richard Abate, Administrator Elaine Kelly and Assistant Administrator Faye Cicci. MINUTES • Minutes from the December 23, 2024 regular session were signed by all board members, except William Sweeney who was unable to attend due to a conflict. • SHARON ANGSTROM moved to approve the minutes from the January 22, 2025 regular session. SECONDED BY: WILLIAM SWEENEY VOTED: (4-0-1) ABSTAINED: RICHARD ABATE APPROVAL. OF NEW MEMBERS RETIREMENTS TRANSFERS, AND REFUNDS • SHARON ANGSTROM moved to approve the following new members: Felicia Fagone Operational Asst Date of hire —01/21125 9%+2% Or.I (AMID) Date of membership — 05/O1/17 Transfer from Boston and Cambridge Michael Reppucci Laborer Date of hire — 02/03/2025 9%+2% Gr.I DPW) Date of membership—02/03/25 Ann Cruickshank Administrative Asst Date of hire — 02/10/2025 9%+2% Or.1 (Town Clerk) Date of membership — 02/10/2025 Luis Nunez Custodian Date of him —02/10/2025 9%+2% Gr.I (Schools) Date of membership—02110/25 Robert Rubchinuk Line Worker Date of hire — 02/10/2025 9%+2% Gr.4 (RMLD) Date of membership — O1/19/2016 Transfer from Essex Regional SECONDED BY: ROBERT BECK VOTED: (5-0-0) UNANIMOUS 2209 • SHARON ANGSTROM moved to approve the following transfer of funds to other system: Michael Poulin To Chelsea Retirement Board 3 years SECONDED BY ROBERT BECK VOTED: (5-0-0) UNANIMOUS APPROVAL OF MISCELLANEOUS ITEMS • SHARON ANGSTROM moved to approve the February 2025 wire transfer from PRIM to MMDT in the amount of $750,000.00 SECONDED BY: ROBERT BECK VOTED: (5-0-0) UNANIMOUS • SHARON ANGSTROM moved to approve the February 2025 wire transfer from MMDT to Reading Coop in the amount of $1,243,106.37 SECONDED BY: ROBERT BECK VOTED: (5-0-0) UNANIMOUS APPROVAL OF INVOICES TO BE PAID. . SHARON ANGSTROM moved to approve the following warrant #AP012025 totaling $1,361,666.19 SECONDED BY: ROBERTBECK VOTED: (5-0-0) UNANIMOUS INFORMATION/OUESTIONS • David Savio, who worked for the Reading Police Dept. and retired on June 12, 2021, passed away on February 5, 2025. He chose Option Cat his retirement. His spouse, Michelle will receive 2/3rds of the retirement allowance David was receiving at the time of his death. He retired on an accidental disability retirement. His spouse may be eligible for a Section 9 Accidental Disability Death Benefit if David's death is found to be directly related to the injury or hazard for which he retired. If so, his spouse would receive the pension portion of his retirement allowance plus any applicable cost -of -living increases and child dependent allowance. 2210 ° Michelle Savio has completed the Accidental Disability Death Benefit Application and has provided the Board with the death certificate. The Board has reviewed and determined that the cause of death was directly related to the injury for which he retired. • SHARON ANGSTROM moved to approve the Section 9 Accidental Disability Death Benefit for Michelle Savio, spouse of David Savio. SECONDED BY: ROBERT BECK VOTED: (5-0-0)UNANIMOUS The Administrator will send to PERAC for their approval. • A transfer amount of $76,629.26 dated 1131/25 was received from the State Retirement System for he Wu. The total service transferred was 7 years, 4 months and 20 days. The State Retirement System will accept liability for 7 years, 4 months and 20 days of service. • The ballots for the election of the 2n° elected member of the Reading Retirement Board will be mailed on February 24, 2025. The counting of the ballots will take place at the Retirement office on Thursday March 20, 2025 at 2:00 PM. All ballots must be received no later than 2:00 PM on Match 20, 2025. An invitation will be sent to the 2 candidates to attend. The Election Notice has been posted on the website. Two Board members will assist staff in the counting of the ballots. • As of February 18, 2025, the balance in the MMDT account is $4,037,892.95. • Copies of the following Reading Retirement Board reports were emailed for review: The PRIT fund's monthly statement & fund performance for period ending January 31, 2025 General Ledger Trial Balance as of January 31, 2025 Cash Receipts, Adjustments, and Disbursements as of January 31, 2025 Bank Reconciliation for the month ending January 31, 2025 Reading Co-op Bank Statement for the month ending January 31, 2025 MMDT Bank Statement for the month ending January 31, 2025 Bank Reconciliation for wire amount with current balance of bank accounts • The next regular board meeting is scheduled for Wednesday March 26, 2025 at 9:30 AM, in the Conference Room at 2 Haven Street, Unit 307, Reading, MA. MEMORANDUMS & LETTERS RECEIVED PERAC Memo #7/2025 — Buyback mid Make-up Repayment Worksheet OLD BUSINESS 221 1 NEW BUSINESS The Retirement Administrator and Assistant Administrator requested signatures from the Board, as references, to complete the application for appointment to the office of Notary Public. Signatures were provided. Arty. Michael Sacco joined this open session at 9:50 AM. The open session took a brief recess. • SHARON ANGSTROM motioned to term to open session. SECONDED BY: WILLIAM SWEENEY VOTED: (5-0-0)UNANIMOUS • SHARON ANGSTROM motioned to move into Executive Session SECONDED BY: ROLL CALL VOTE: VOTED: EXECUTIVE SESSION. ROBERTBECK SHARON ANGSTROM Aye ROBERT BECK Aye WILLIAM SWEENEY Aye RICHARD ABATE Aye DAVID GENTILE Aye (5-0-0) UNANIMOUS The Board convened into executive session, by a roll call vote for the evidentiary hearing regarding the Accidental Disability Retirement Application of Thomas Schibilio. This was conducted in executive session. Atty. Michael Sacco presided over the hearing. OPEN SESSION The Board convened back into open session, by a roll call vote in executive session. SPECIAL.MM Discussion with RMLD Manager Greg Phipps in regards to the Group 1 vs Group 4 matter in question. The Board's Attorney Michael Sacco was present as well as Any. Christopher Pollart, Esq., KP Law, In - House Counsel Janet Walsh (RMLD), Human Resource Director Susan Inman (RMLD), Nicholas D'Alleva and Kenneth Finne of RMLD. 2212 Arty. Sacco started the meeting by presenting the position that the Board holds regarding Group I vs Group 4 eligibility, given the current information RMLD has provided to the Board, i.e. cumerrt job descriptions and a current organizational chart. Atty. Sacco reiterated that no one is disputing thejob titles as being in the statute but it appears the job titles were changed but not necessarily a change in duties. Therefore, does the title commensurate with what the person is actually doing and what happened to those other 3 positions; me they no longer positions at RMLD? Greg Phipps stated that the job descriptions have not changed fundamentally, but rather evolved a bit. Historically, these positions have always been;Greup 4 positions. To help clarify, RMLD adjusted the job titles and made small adjustments to the jeb responsibilities as well. The core nature of work in terms of maintaining the network is done by the line crew and the substation crew. Their strong opinion is that these positions should be Group 4 positions. Arty. Sacco has asked RMLD to provide him and the Board with the old job descriptions as well as the new job descriptions, in order to do a comparison analysis. Janet Walsh will provide the Board with the red lined copy of the old job descriptions and the red lined copy of the new job descriptions for the remaining three positions. The open session took a brief recess. . SHARON ANGSTROM motioned to return to open session SECONDED BY: ROBERT BECK VOTED: (5-0-0) UNANIMOUS . SHARON ANGSTROM motioned to go into executive session SECONDED BY: ROBERT BECK ROLL CALL VOTE: SHARON ANGSTROM Aye ROBERT BECK Aye WILLIAM SWEENEY Aye RICHARD ABATE Aye DAVID GENTILE Aye VOTED: (5-0-0)UNANIMOUS EXECUTIVE SE The Board convened into executive session, by a roll call vote for the evidentiary hearing regarding the Accidental Disability Retirement Application of Erik Drauschke. This was conducted in executive session. Arty. Michael Sacco presided over the hearing. 2213 " OPEN SESSION The Board convened back into open session, by a roll call vote in executive session. 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 lieu of discussion in Executive Session. • ROBERT BECK moved to adjourn this open session at 11:40 AM. SECONDED BY: SHARON ANGSTROM VOTED: (5-0-0) UNAN11WOVS Sharon M. Angstrom, rid U"- A II UM& Robert L. Beck,�elected e��t,�g William E. Sweeny, Jr., 2 p I Richard P. Abate, la appointed