HomeMy WebLinkAbout1999-11-23 Retirement Board MinutesThe Reading Contributory Retirement Board held a meeting on November 23, 1999 Berger
Room, Town Hall, Reading, Massachusetts.
The meeting was called to order at 4:05 P.M.
Mr. Leonard Rucker, General Manager of the Reading Municipal Light Department, and Beth
Ellen Antonio, Human Resource Manager, attended this meeting to discuss the Group
classification of 6 RMLD employees. They reviewed with the board the 6 job descriptions of the
positions that they believe should be classified as Group IV. The Board decided to send the job
description to PERAC for their opinion on whether they should be classified as Group I or Group
IV. The chairman brought up the issue of the record keeping of the beneficiaries of the RMLD
employees. The Retirement Board Administrator will send out notices to RMLD employees to
ensure the Retirement Boards records are up to date concerning the intended beneficiary of the
employee.
Minutes from October 20, 1999 meeting to be read and accepted.
Minutes from September 22, 1999 and October 13, 1999 meetings to be signed by board
members.
Beth Klepeis' appointment to the position of Appointed Member of the Reading Retirement
Board will expire on December 31, 1999. Her appointment date is November 30, 1999. The
letter to Members of the Board of Selectmen was signed by the Chairman and will be given to
Paula Schena on November 24, 1999.
Peter Isbell did not receive creditable service for the 10 week period that he was suspended. He
would like this period reinstated. I met with George Strazzere, Peter Isbell and Carol Roberts on.
November 19, 1999. It was decided to bring this issue up with the Reading Retirement Board at
their next meeting. The Board voted not to take any action concerning the 1 month of creditable
service allowable under Chapter 32. They would like more information concerning his
suspension from the job. The Retirement Administrator will gather this information for the
December 15, 1999 board meeting.
Approved the `Actuarial Valuation and Review as of July 1, 1999' submitted by The Segal
Company.
Approved new pension amount of $80.64 per month for Joseph LaMonica: Joseph LaMonica,
who was receiving an Option D benefit, will not be eligible for the minimum allowance because
he remarried on June 12, 1999. He also will not be eligible for the dependant benefit because his
daughter is over eighteen and no longer a full time student. This new calculation has been sent.
to PERAC for approval.
All the notarized affidavits have been submitted.
Mr. Francis Kerrigan of Center Conway, New Hampshire passed away on November 11, 1999.
6J 1
On October 28,1999 the Retirement Board received a, `Summons and-Order of Notice.-
Restraining Order'. The Plaintiff is Barbara Sullivan and the Defendants are Charles Darby
(Reading Retiree), Kathleen CTemellaro, Town of Reading and Boston Mutual Life Insurance
Company. Kathleen is their daughter and Mr. Darby's Power of Attorney. The Order
commands the Town from distrihtuting any and all retirement benefits including periodic
retirement benefits and hump sum payments to Charles Darby or Kathleen Gemella.ro The
pension will be suspended starting with the November check.
Chester Thurston and Paul Sheridan are delinquent in sending in their `1998 Annual Report of
Earnings' statement to PF.RAC. They bath have been sent certified letters stating that if they do
nmt contact the Retirement Board to schedule a hearing to review why they have not submitted
the required documents, their pension benefit will be suspended starting with the December 1999
check. Paul Sheridan's check is currently suspended for previous non-compliance. Update:
Chester Thurston has submitted his Statement of Farnings.
Approved buy backs:
Thomas Gardiner would like to buy hack the 5 years 7 months he worked for the State.
He received a refund of $5,899.97 in 1985. He would like to contribute $80.00 per
month for 5 years for a total buy back of $10,391.78.
Christopher Patterson would like to buy hack the 4 years he worked for Reading He
received a refund of $8,080.22 in January 1999. He would like to contribute $65.00 per
pay period for 5 years for a total buy back of $8,228.35.
Approved creditable service for Marianne Uttarn She now works for Arlington She worked
part time in the Reading Library from March 1980 through August 1984- Her hours averaged
between 17 and 22 hours. Her part time. service for the 4 years and 5 months is prorated for a
total of 2 years and 2 months.
.Approved the Supplementary Regulations concerning membershin, buyback & nro-rating part-
time service- They will he sent to PFRAC for approval.
Approved refunds
Lvdia Nickerson's father, Richard Nisbett, passed away on November 1,1999. She is the
beneficiary and will receive a refund of the interest and accumulated deductions. Refund
of $21,847.54,
Approved new membership for.
William F. Born DPW/Highway 9%
Christopher Patterson DPW/Highwav 9%
Reviewed and approved Vouchers:
` 1999 Voucher # 84 Town of Reading Treasurer
$340,898.84
Payroll
85 Town of Reading Treasurer
$2,873.32
Ret Admin pay
86 Paul Adams
$136.40
refund
87 Phyllis Tumsaroch
$4,936.07
refund
88 Michael Nickerson
$7.70
overpayment
89 Lydia Nickerson
$21,847.54
refund
90 The Segal Company
$9,500.00
Actuarial Study
Distribute: FYI 999 Annual Report of the PRIT Fund
PRIM Board's Investment Policy Statement
PERAC Update: Dennis White's retiree evaluation is complete. PERAC's nurse case manager
determined that he is unable to perform the essential duties of his job.
The revised funding schedule for FY01 has been approved by PERAC.
Rosamond Cotter attended a class at PERAC on November 9, 1999
"Former Foxboro Highway Superintendent Pleads Guilty to Perjury in
Connection with Boston Police Pension Pay"
Meeting adjourned 6:20 P.M.
Present: Boissoneau, Foley, Klepeis, Seferian, Veno and Cotter.
Henry'J. Boissoneau, 1st elected
4,12 2, N
Ri hard P. Foley, Ex Offic o
Elizla eth W. Klepeis, Ot appointed
Josep R. Veno, 2° elected
Daniel B. Seferian, 2C1 appointed