HomeMy WebLinkAbout2008-06-24 Retirement Board Minutesn
MINUTES OF THE READING RETIREMENT BOARD MEETING
Tuesday, June 24, 2008
The Reading Retirement Board held a regular session meeting on June 24, 2008, in The Lower Level Conference
Room, Town Hall, Reading, Massachusetts.
The meeting was called to order at 6:07 P.M. by Chairman Joseph Veno in the presence of members Gail
LaPointe, Daniel Seferian, and Board Administrator, Colleen Loughlin. Richard Foley and Francis Driscoll were
not able to attend.
MINUTES
• Regular session minutes for the March 26, 2008 and April 23, 2008 meeting were signed by all board
members who were present.
• DANIEL SEFERIAN moved to accept the May 28, 2008 regular session minutes as written.
SECONDED BY: GAIL LAPOINTE
VOTED: (3-0-0) UNANIMOUS
APPROVAL OF NEW MEMBERS RETIREMENTS TRANSFERS AND REFUNDS
• DANIEL SEFERIAN moved to approve the following retirement applications:
Margaret Gaskill School-Cafeteria 6/19/08
28 years, 10 mths Option B
' (Superannuation)
~ Michael Cloonan Police 6/30/08
33 years, 6 mths
(Superannuation)
James Collins RMLD 8/1/08
16 years, 1 mth Option C
(Superannuation)
Paul Janes School-Maintenance 8/20/08
12 years, 6 mths Option B
(Superannuation)
SECONDED BY: GAIL LAPOINTE
VOTED: (3-0-0) UNANIMOUS
APPROVAL OF MISCELLANEOUS ITEMS
• Other than police officers, fire fighters and correction officers, Group 2 and 4 members may continue in
service beyond the mandatory retirement age of 65. Charles Perry, RMLD Senior Meter Technician, will be
turning 65 November 2, 2008. The board must determine if Mr. Perry's position is excluded from the
mandatory law.
Tabled until next meeting
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APPROVAL OF VOUCHERS
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DANIEL SEFERIAN moved to approve the following vouchers:
2008 Voucher # 50
Town of Reading Treasurer
$ 13,900.26
51
Town of Reading Treasurer
$551,353.14
52
Town of Reading
$ 154.89
53
Middlesex Retirement Board
$ 23,279.30
54
State Retirement Board
$ 21,106.09
55
Colleen Loughlin
$ 526.71
56
Law Office of Nicholas Poser
$ 3,449.25
SECONDED BY: GAIL LAPOINTE
VOTED: (3-0-0) UNANIMOUS
INFORMATION/QUESTIONS/OTHER ITEMS
Feb-June Administrator's Salary
June retiree payroll
Postage due to Town
Section 3(8)(c) Reimbursement
Section 3(8)(c) Reimbursement
Reimb for Travel Exp-MACRS Conf.
Legal Serv (R. Toussaint)
• A check was received from Middlesex Retirement Board and State Retirement Board for full payment of its
Section 3(8)(c) reimbursement. All Section 3(8)(c) payments to the Reading Retirement Board have been
received. All Section 3(8)(c) payments to other systems have been paid by the Reading Retirement Board.
• Received the Board's Brief from Nicholas Poser in support of CRAB's denial of Mr. Toussaint's application
for accidental disability retirement. The Court has not scheduled a hearing on Mr. Toussaint's appeal.
• Received memo from PERAC regarding Accidental Disability retiree, Charles Johnson. Mr. Johnson has
been examined by 3 restoration to service physicians on February 26, 2002. The physicians were unanimous
in their decision, finding Charles Johnson able to return to service. A request has been sent to Edward
McIntire. If this member's position is currently not available or has been eliminated, contact HRD and ask
the Personnel Administrator for a determination as to whether vacancies in the same department are deemed
to be similar to the position from which the member retired.
• Retiree Paul Sheridan and Domenic Ricci received a "Notification of Termination" from PERAC for failure
to file their 2007 Annual Statement of Earned Income. The Board Administrator will send a letter to Mr.
Sheridan and Mr. Ricci regarding this issue.
• Copies of the following Reading Retirement Board reports were handed out for review:
The PRIT fund's monthly statement & fund performance for period ending May 31, 2008.
General Ledger Trial Balance as of May 31, 2008.
Bank Reconciliation for the month ending May 31, 2008.
• The next board meetings will be July 23, August 27, September 24, October 29, November 25, and December
17, 2008 at 6:00 pm in the Lower Level Conference Room. .
MEMORANDUMS & LETTERS RECEIVED
PERAC Memo #20/2008 - Procedures for Retirement System Audits Performed by Certified Public Accounting
Firms Authorized Under Chapter 32, Section 21(1)(a).
PERAC Memo #21/2008 - Lawrence Driscoll. The Commission reviewed the findings of the State Ethics
Commission that Mr. Driscoll has violated Chapter 268A of the General Laws and voted to prohibit Mr. Driscoll
from engaging in any capacity with any Massachusetts public pension system.
Michael Reardon, Senior Client Service Officer from the PRIM Board, has resigned and accepted a new position
at Congress Asset Management in a Consultant Relations Role.
Email from Shawn Duhamel (MACRS) Re: Section 15, Local COLA Base Increase
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OLD & NEW BUSINESS
ADJOURNMENT
• DANIEL SEFERIAN moved to adjourn this open session at 6:35 P.M.
SECONDED BY: GAIL LAPOINTE
VOTED: (3-0-0) UNANIMOUS
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n;e! h - beno d elected
Gaily ointe, Ex Officio
Richard P. Foley, I" appointed
Francis P. Driscoll, 1" elected
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Vice Chairman, Danie . Seferian, 2 appointed