HomeMy WebLinkAbout2000-12-20 Retirement Board MinutesLt
The Reading Contributory Retirement Board held a meeting on DECEMBER 20, 2000, Co ea n e own
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Hall, Reading, Massachusetts. The meeting, was called to order at 7:35 A.M.
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Minutes from the November 22, 2000 meeting were read and accepted.
Minutes from the October 25, 2000 meeting were signed by the board members.
2001 MAR 2b P 4: 20
Approved new membership:
Francis Golden 12/4/00 Assistant Appraiser
9% (Framingham)
Rosanne Murphy 11/30/00 RMLD
9% (Woburn) .
Joseph Kingston, Jr. 11/27/00 DPW
9% temp to perm
John Hixson 12/11/00 Director of the RHA
8% (Newton)
Domenic Cacciapuoti, Jr. 12/11/00 School Custodian
9% temp to perm
Approved retirement applications:
Donald L. Wood 1/19/01 Fire Chief Option A
Approved PERAC approved retirements:
William S. Holmes 11/14/OOCustodian Option C
Annual Annuity $2,477.88
Annual Pension $6,056.28
Annual Ret. Allow. $8,534.16
Monthly Ret. Allow. $711.18
Reviewed and approved the following vouchers:
2000 Voucher # 65 Town of Reading Treasurer $ 366,541.28
deductions $65,336.42/net $301,204.86
66 Town of Reading Treasurer $ 2,985.22 staff salary
Christopher Picco would like to buyback the 1 year and 5 months he worked in the Middlesex Sheriffs Office from
5/20/95 to 10/20/96. He was a "temp" and did not contribute to Social Security, a deferred compensation plan or the
Middlesex Retirement System. The total cost is $2,571.52. Nancy Lospetano, at the State Board, informed me they
would not take responsibility for this time. The board voted to allow him to buyback this time. The Retirement
Administrator will contact PERAC and the State Board to find out which system should be responsible for this time.
William O'Brien, from the Cemetery Department, was suspended from June 22, 2000 to July 20, 2000. He was on
an approved leave of absence without pay from July 21, 2000 through August 7, 2000. His new date of membership
in the Reading Retirement System will go from October 1, 1997 to November 15, 1997. He will be informed of this
in a letter.
PERAC's internal nurse case manager has determined that disability retiree Robert Desano is unable to perform the
essential duties of his job.
A transfer of $3,455.80 was received from the Barnstable County Retirement Board for Firefighter Paul Roy.
Elizabeth Racine, the ex-wife of Harvey Racine, was incorrectly informed in 1992 that she had rights to Mr.
Racine's pension. According to a requested PERAC opinion dated December 4, 2000 his "widow at the time of
death" will be paid $6,000 annually if his death is unrelated to his disability. According to Chapter 32, if "the board
finds that such death was the natural and proximate result of the injury or hazard on account of which such member
was retired the amount of such allowance shall not be less than the annual amount of the pension portion ...shall
be paid to the surviving spouse of such member...". Harvey Racine and Elizabeth Racine will be informed of
PERAC's opinion.
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Michael Crowley was a full time dispatcher at the Police Department until December 15, 2000. He would like a
refund of his deductions and interest, but he would also like to stay on as a spare dispatcher. If he resigns, in order
to receive a refund of his deductions and interest, the Police Department may not rehire him as a spare dispatcher.
The board voted to not allow a refund of deductions and interest without a member terminating from service, which
is consistent with Chapter 32.
The following firms will be contacted shortly to schedule interviews on January 24, 2001: Keegan, Werlin &
Pabian (Ted Cohen), Deutsch, Williams, Brooks, DeRensis, Hoolan & Drachman (Scott C. Merrill), Nicholas C.
Posner and Brackett & Lucas.
Scheduled January 24, 2001 and February 21, 2001 board meetings.
The board voted to investigate a retirement policy on allowing temporary employees that have been employed full
time for over 6 month into the retirement system.
Meeting adjourned 8:25 A.M.
Present: Boissoneau, Foley, Klepeis, Seferian, Veno and Martin.
enry J. B s eau, I" elected