HomeMy WebLinkAbout1999-02-26 Retirement Board MinutesThe Reading Contributory Retirement Board held a meeting on February 26, 1999, Selectmen's
Room, Town Hall, Reading, Massachusetts.
Meeting called to order @.1:05 P.M.
Minutes from previous meeting(s) accepted as read.
Distributed "Amended Modification Judgement" signed by Judge McGovern, concerning
Thomas Fennelly.
Followed up on Thomas Fennelly and the "Tri-party Agreement To Secure Reading, MA Town
Employees' Federal Credit Union Loan". The agreement has been signed and approved by all
parties (Retirement Board, Thomas Fennelly and the Reading Town Employees Credit Union).
The check was &v on February 17, 1999 and Mr. Fennelly's intention was to mail Mrs.
Fennelly the check that day.
Board agreed to have Beth follow up on the appointment of Vincent Zaccardi as the fifth
member of the Reading Retirement Board and also have Mr. Mitchell send in his resignation
letter.
Board approved the retirement application of James Stevenson (see below).
Board approved the retirement application of Carol A. Angelo-Superannuation Option B 18-
Mar-99.
Board approved the retirement buy back of creditable service by James D. Rich and Matthew
Faucette.
Board approved the refund to David M. Richards. Police Department. Terminated 26-Sept-97.
Board accepted new membership for:
Rosamond Cotter, Retirement Board Adm/Asst Town Accountant, 8%, 2/8/99.
Mary Lou Halloran, Principal Clerk, Water Department, 9%, 2/22/99.
Scott Dole, Firefighter, 9%, 1/25/99.
Board accepted approval from PERAC for:
James Stevenson, Fire Department, as of 22-Jan-99. Superannuation Option A.
Retirement Allowance:
Annuity
4,572.24
Pension
29,730.60
Yearly
34,302.84
Monthly
2,858.57
Richard Murch, Municipal Light Department, as of 8=Jan-99. Superannuation Option C.
Retirement Allowance:
Annuity 7,173.00
Pension 53,550.72
Yearly 60,723.72
Monthly 5,060.31
Eleanor Kashian, Retirement Board, as of 5-Feb-99. Superannuation Option B.
Retirement Allowance:
Annuity 3,311.04
Pension 12,244.56
Yearly 15,555.60
Monthly 1,296.30
Distributed "Proposed Change in Method of Calculating State Appropriation" from the Prim
Board.
Reviewed "Roundtable Discussion" hosted by The Segal Company & Segal Advisors, Inc.
Board reviewed and approved the following:
Voucher 1999 11 Office Supplies
18.56
12 State Board of Retirement 29,286.69
(Transfer)
13 3(8)(C) Malden
405.98
Barnstable
2,828.48
Lexington
1,202.50
Woburn
4,111.47
Total
8,548.43
14 Town of Reading
59,465.80
(Payroll Deds.)
15 Town of Reading
8,503.11
(Ret. Payroll)
16 Transamerica Life
36,788.69
(Rollover)
David M. Richards
4,045.59
Meeting adjourned 2:10 P.M.
ry oissoneau, 1st elected
Ri hard P. Foley, Exo
Present: Boissoneau, Foley, Klepeis, Veno and, tter.
Hen
W
~1, Z" ~
oseph R. Veno,
f
is'l ap ointed
elected