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HomeMy WebLinkAbout2000-01-26 Retirement Board MinutesThe Reading Contributory Retirement Board held a meeting on January 26, 2000, Conference Room, Town, Hall, Reading, Massachusetts. The meeting was called to order at 7:30 A.M. Minutes from the December 15, 1999 meeting were read and accepted. Minutes from the November 23, 1999 meeting were signed by the board members. The board reviewed the letter from PERAC in response to the group classification issue. The board voted to classify the following 3 positions as Group IV based on the recommendation from PERAC: Electrical Mechanical Maintenance worker, Manager of Projects and Electrical Maintenance Manager. A letter and a copy of the opinion letter from PERAC will be sent to Mr. Leonard Rucker and Beth Antonio at the Reading Municipal Light Department. Frederick Jackson has been on Worker Compensation since the end of November and the $26.00 bi-monthly buyback deductions have not been taken out since then. Carol Roberts said he might want to stop the deductions after he comes back to work for 6 months and then start up again (at $34). He is buying back 2 years and 4 months he worked in the Boston Retirement System. The board voted to grant this request. Steven Perry, an RMLD employee, would like to buy back 4 years of military service. He worked at the Littleton Light Department for 18 years, May 31, 1977 to August 3, 1995. He then moved out of state and became an inactive member. He became a member of the Reading Retirement System on June 1, 1999 and his account was transferred to Reading shortly thereafter. He was out of state in 1996, when the Legislation was passed. Sandor Zapolin, from PERAC, indicated that Mr. Perry was eligible to buyback the 4 years. Mr. Perry paid the total amount for the 4 years, $3,870.74, in a lump sum payment on January 10, 2000. The board voted to accept his payment for the 4 years of creditable service. Edward Haradon is retiring on May 1, 2000. He had hip surgery and received no compensation for 3 weeks in August 1999. He would like the board to grant these 3 weeks of creditable service. The board voted to grant the 3 weeks of creditable service. Peter Isbell was suspended for 2 weeks, from December 2, 1997 to December 15, 1997, and was on leave for 10 weeks, from December 22, 1997 to March 6, 1998. At the December meeting the board suspended their decision with regard to granting the month of creditable service allowable until they have more information as to why he was suspended. Joe Veno met with Peter Isbell on January 20, 2000. Peter Hechenbleikner, Carol Roberts, Peter Isbell, George Strazzere and a representative of the union met on January 20, 2000. Peter Hechenbleikner attend the board meeting at 8:00 A.M.. The board reviewed the letter from Peter Hechenbleikner, recommending the board to grant 1 month of creditable service. The board voted to grant one month of creditable service allowable for the period of December through March, when he was on an unpaid leave. r~ The board review the 1999 Annual Statement that will be sent out to active employees showing their beneficiaries, December 31, 1999 balance, 1999 interest and 1999 contributions. The q changes recommended will be made and it will be sent out in February 2000. Kathy Sutherland, at the Reading Housing Authority, was told by their accountant that Kathleen Rolli, should be in the Reading Retirement System not in Social Security. Kathleen is the Section 8 Program Coordinator and works 30 hours per week. She started in September 1999. The board voted to not accept Kathleen Rolli into the retirement system because only full time employees are allowed in to the system. A copy of the Supplementary Regulations will be sent to Kathy. Approved retirement applications: Virginia Butler Human Services March 10, 2000 Option A William Pacunas Police April 28, 2000 Option A Ralph Tarpin RMLD March 3, 2000 Option C Approved PERAC authorized retirement calculation: Wanda Lordan December 31, 1999 Option B Annuity 1,181.52 Pension 1,963.44 Yearly 3,144.96 Monthly 262.08 Approved refunds: Todd Dahlquist rollover $1,584.60 George Tower refund $549.84 Peter Lowell transfer to Wakefield $1,874.78 Gary Miller rollover $13,778.61 Approved new membership Patricia McLaughlin RMLD 9% William Hill School 9% Dean Dillon RHA 8% (transfer from Salem) Steven Smith RMLD 9% Michael Sarno RMLD 8% (transfer from Wakefield) Reviewed and approved the following vouchers: 2000 Voucher # 01 Town of Reading Treasurer $341,503.19 02 Town of Reading Treasurer $2,873.32 03 Corporate Express $27.80 04 3(8)(C) Reimbursement $18,192.74 05 Massbank (rollover/Dahlquist) $1,584.60 06 George Tower (refund) $549.84 Reading Treasurer-IRS-Tower $122.84 07 Woburn Retirement (P Lowell) $1,874.78 08 f First Essex Bank (G Miller) $13,778.61 Scheduled meetings: Wednesday February 23, 2000 at 7:30 A.M. Wednesday March 29, 2000 at 7:30 A.M. Daniel Seferian's appointment expires on March 31, 2000. The board voted to reappoint Daniel Seferian to the `Member Appointed by other Members' from April 1, 2000 to March 31, 2003 PERAC MEMOS: #50 COLA/Dependents/Paid to Accidental Disability Retirees-$527.28 per year #05 2000 Interest Rate is set at 2.1 % Meeting adjourned 8:25 A.M. Present: Boissoneau, Foley, Klepeis, Seferian, Veno and Cotter. 1 w ffenry I oissoneau, lst elected 4-JLC 61, Richard P. Foley, Ex O io jvz, K-, Eli th W. lepeis, 1 ` ppointed oseph R. V no, 2" elected aniel B. Seferian, 2" ppointed