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HomeMy WebLinkAbout2004-09-28 RMLD Pension Trust Subcommittee MinutesMinutes of Pension Trust Subcommittee Meeting RMLD Board of Commissioners Date September 28, 2004 Time: 7:10 p.m. C Place: Cafeteria M C-- Attendees: Mr. Pacino and Ms. Kearns Y Messrs. Cameron and Fournier= - r-T; Meeting was brought to order at 7:10 p.m. Mr. Fournier explained that the RMLD should deposit $605,850 in the RMLD's Pensi4d Trust based on the Actuarial Report performed Stone and Company in 2003. The Subcommittee ma`d'e the motion to recommend to the RMLD Board to deposit $605,850 into the RMLD's Pension Trust. These monies were transferred on the recommendation of a report prepared by Larry Stone of Stone Consulting, Inc. in January 2003. Mr. Fournier then explained that the RMLD needed to send the Town of Reading $864,000 for the cost of the retirement costs. Beth Klepeis requested this in a letter to Mr. Fournier on August 20, 2004. A vote was taken by the Subcommittee to transfer $864,185 from the RMLD Employees' Retirement Trust Fund into the Town of Reading Contributory Retirement Board to cover the cost of the RMLD's retirees Both votes were unanimous. The meeting was adjourned at 7:20 p.m. i