HomeMy WebLinkAbout2000-08-30 Retirement Board Minutes,,045 t,
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The Reading Contributory Retirement Board held a meeting on August 30,
Town Hall, Reading, Massachusetts.
The meetuig was called to order at 7:30 A.M.
;Minutes from the July 26, 2000 meeting were read and accepted.
Nlunutes from the June 28, 2000 meeting were signed by the board members.
Approved PERAC approved retirement calculations:
Carlton A. Barry RNILD
Annuity
$ 4,663.20
Pension
$ 34,200.60
Yearly
$ 38,863.80
Monthly
$ 3,238.65
es until one
Approved refunds/transfers:
Patricia McLaughlin RNILD
Approved new membership:
Ronald D. Sebeika
Sharon V. Srabian
refund
$1,115.94
001 MAR 2b P 4: 19
DPW June 5, 2000 9%
Dispatcher August 27, 2000 9%
Reviewed and approved the following vouchers:
2000 Voucher # 46 Town of Reading Treasurer
Deductions $ 65,645.33/Niet
47 Town of Reading Treasurer
48 Patricia McLaughlin
Town of Reading Treasurer
$ 368,238.27
$ 302,592.94
$ 2,985.22 staff salary
$ 1,115.94 refund
$ 278.99 IRS/McLaughlin
r rederick Jackson, a Field Technician in the Department of Public Works, attended the board meeting to
request a reclassification of his Group I position. At the meeting he discussed the duties and hazards of
iris job. The board members reaffirmed that his position must remain in Group I due to the fact that this
position is not specifically listed in Group II, III or IV in Section 3(2)(g) of Chapter 32. The position falls
into Group I due to the catch all clause "all others not otherwise classified".
!n response to a request from the Town Engineers, the Board also reaffirmed the following positions are
classified in Group I due to the fact these positions are not specifically listed in Group 11, 111 or IV in
Section 3(2)(g) of Chapter 32. Civil Engineer, Senior Engineer and Assistant Civil Engineer. These
positions also fall into Group I due to the catch all clause "all others not otherwise classified".
Disability retirees, Thomas Morgan and Robert Desano, are required to participate in an evaluation within
the next three months. This evaluation is to determine whether the members are able or unable to perform
the essential duties of the position from which they retired.
PERAC's internal nurse case manger has determined that Arthur King and Thomas Morgan are unable to
perform the essential duties of their job.
Margaret Plansky, Director of the Reading Housing Authority, is retiring on December 31, 2000.
An AFFIDAVIT will be mailed to all retirees (retirements prior to 12%31%99) and survivors on September
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~9, 2000. They will not have to be notarized.
July 31, 2000 Option A
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The new annual amount for the supplemental dependent allowance to be paid to accidental disabi)ii,
retirees is $543.12Iper dependent child beginning July 1, 2000.
The Board reviewed the fiscal year 2002 Contributory Retirement budget.
Total assets in the PRIT Fund as of June 30, 2000 $62,592,480
Annualized return since inception 12.31%
Net Return 5 years 17.03%
Net Return calendar year to date 2.91%
Net Return second quarter -0.99%0
Meeting adjourned 8:30 A.M.
Present: Boissoneau, Foley, Klepeis, Seferian, Veno and Martui.
The Rea
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