HomeMy WebLinkAbout2024-12-23 Retirement Board Minutes° RECEIVED
Town of Reading TOWN CLERK
o Meeting Minutes RRADFN'G, MA.
2025 SEP 29 PM 2: 33�
Board - Committee - Commission - Council:
Contributory Retirement Board
Date: 2024-12-23
Time: 9:32 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-Chalrman
Sharon Angstrom
Robert Beck
Richard Abate
Members - Not Present:
William Sweeney
Others Present:
Elaine Kelly - Administrator
Faye Ciccl- Assistant Administrator
Minutes Respectfully Submitted By: Faye Ciccl
Topics of Discussion:
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MINUTES OF THE READING RETIREMENT BOARD MEETING
Monday December 23, 2024
The Reading Retirement Board held a regular session meeting on December 23, 2024 in The Conference
Room at 2 Haven Street, Unit 307, Reading, Massachusetts
The meeting was called to order at 9:32 AM by Chairman David Gentile, with board members Sharon
Angstrom, Robert Beck, Richard Abate, Administrator Elaine Kelly and Assistant Administrator Faye
Cicci. William Sweeney was unable to attend due to a conflict.
MINUTES
• Minutes from the October 23, 2024 regular session were signed by all board members.
• SHARON ANGSTROM moved to approve the minutes from the November 25, 2024 regular session.
SECONDED BY: ROBERT BECK
VOTED: (4-0-0) UNANIMOUS
APPROVAL OF NEW MEMBERS RETIREMENTS TRANSFER& AND REFUNDS
• SHARON ANGSTROM moved to approve the following new members:
Peter Boudreau
Electrical Mechanical
Date of hire — 11/25/24 9%+2%Gr. 4
(RMLD)
Maint Worker
Date of membership — 07/22/19
Transfer from Middlesex
Stephen Bowker
Laborer
Date of hire — 12/09/24 9%+ 2%
Or. 1
(DPW)
Date of membership—10/22/18
Rehire
Haley Murphy
Admin Assistant
Date of hire — 12/02/24 9%+2%
Gr. 1
(Health)
Date of membership—12/02/24
Sean Driscoll
Customer Support
Date of hire — 12/02/24 9%+ 2%
Or. 1
(RMLD)
Specialist
Date of membership — 12/02/24
Jared Bach
Integrated Resource
Date of hire — 12/02/24 9%+ 2%
Gr. 1
(RMLD)
Specialist
Date of membership — 12/02/24
SECONDED BY: ROBERT BECK
VOTED: (4-0-0) UNANIMOUS
2200
• SHARON ANGSTROM moved to approve the following refund of accumulated deductions:
Pavel Bondarev Resigned 4/2/21
Jose Villanueva Gonzalez Resigned 11/29/24
SECONDED BY: ROBERT BECK
VOTED: (4-0-0) UNANIMOUS
APPROVAL OF MISCELLANEOUS ITEMS
• SHARON ANGSTROM moved to approve the December 2024 wire transfer from PRIM to MMDT
in the amount of $750,000.00
SECONDED BY: ROBERT BECK
VOTED: (4-0-0) UNANIMOUS
• SHARON ANGSTROM moved to approve the December 2024 wire transfer from MMDT to Reading
Co-op in the amount of $1,301,922.61
SECONDED BY: ROBERT BECK
VOTED: (4-0-0) UNANIMOUS
• SHARON ANGSTROM moved to approve the Employee Parking Permit for 2025 in the amount of
$240.00.
SECONDED BY: ROBERT BECK
VOTED: (4-0-0) UNANIMOUS
APPROVAL OF INVOICES TO BE PAID
• SHARON ANGSTROM moved to approve the following warrant #AP122024 totaling $1,307,474.13
SECONDED BY: ROBERT BECK
VOTED: (4-0-0)UNANIMOUS
INFORMATION/QUESTIONS
• An Election Notice for the 2nd Elected Member of the Retirement Board was sent to all retirees, active
and inactive members of the Reading Retirement System. It has also been posted on the PEREC website
and the Retirement Board website. Nomination papers we due to the Retirement office by January 27,
2024. To date, there has not been any request for the nomination papers.
220 1
• As of December 18, 2024, the balance in the MMDT account is $5,697,542.54.
• SHARON ANGSTROM motioned to move $1.3M from MMDT to PRIT.
SECONDED BY: ROBERT BECK
VOTED: (4-0-0) UNANIMOUS
NOTE: The Administrator will send an email letter to the Town Treasurer to move the funds.
• Copies of the following Reading Retirement Board reports were entailed for review:
The PRIT fund's monthly statement & fund performance for period ending November 30, 2024
General Ledger Trial Balance as of November 30, 2024
Cash Receipts, Adjustments, and Disbursements as of November 30, 2024
Bank Reconciliation for the month ending November 30, 2024
Reading Co-op Bank Statement for the month ending November 30, 2024
MMDT Bank Statement for the month ending November 30, 2024
Bank Reconciliation for wire amount with current balance of bank accounts
• The next regular board meeting is scheduled for Wednesday January 22, 2025 at 9:30 AM, in the
Conference Room at 2 Haven Street, Unit 307, Reading, MA.
MEMORANDUMS & LETTERS RECEIVED
PERAC Memo 930/2024 — Cybersecurity Training
PERAC Memo #31/2024 — 2024 Disability Data Changes
OLD BUSINESS
The office received an opinion letter from Arty. Sacco regarding the five (5) job descriptions in question
at RMLD. The Administrator sent an email to Greg Phipps, General Manager of RMLD, explaining the
Board's position on this matter. To date, there has been no response from RMLD.
The May 26, 2025 scheduled Board meeting was rescheduled to May 21, 2025.
NEW BUSINESS
RFP for Investment Consultant — The Retirement office has received four (4) responses on the due date
of December 16, 2024.
The four (4) responses were given to each Board member for review. Responses and evaluation ratings
are due back to the Retirement office by January 8, 2025.
2202
MISCELLANEOUS
OPEN SESSION 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.
ADJOURNMENT
. SHARON ANGSTROM moved to adjourn this open session at 10:07 AM.
SECONDED BY: ROBERT BECIL
VOTED: (4-0-0)UN US
C avid A. Gentile, 1" elected
Sharon M. Angstrom, Ex ffii
L. Beek, 20' elected
William E. Sweeney, Jr., 2n° appointed (ABSENT)
Richard P. Abate, 1" appointed