Regular Meeting January 23, 2019

Transcription

1 228 Regular Meeting January 23, 2019 The Taunton Retirement Board (the Board ) met at 1:05 p.m. today at 104 Dean Street, Suite 203, Taunton, MA with Chairperson Ann Marie Hebert presiding and board members Gill E. Enos, Barry J. Amaral, and Dennis M. Smith in attendance. Roll Call All members were present except member Corr at the 1:05 p.m. roll call. Also present were: Paul J. Slivinski, Executive Director Michael Sacco Attorney to the Board Paula Deforitis and her attorney Tasha Buzzell Amanda Greco and her attorney Gail Demello-Madeira Alfred Borges Jr. Dawn Rabbitt Dunn Reporting Agency REGULAR BUSINESS: Minutes from the December 19, 2018 regular meeting. On the motion by Smith, seconded by Amaral, it was VOTED: to approve the minutes. Warrants Review warrants #1 to #7 for VOTED: to approve the warrants. New members of the system to date: Sandy Duarte, School, Group 1, 9+2% Rebecca Waitt, Library, Group 1, 9+2% Meredith Machado, TMLP, Group 1, 9+2% Jennifer Lovely, School, Group 1, 9+2% Cathal O Brien, DPW, Group 1, 9+2% Andrew Marshall, Park and Rec, Group 1, 9+2% Donna Andrews, Treasurer s, Group 1, 9+2% Kelly Chapman, Carpenter, Group 1, 9+2% VOTED: to approve the new members. Refunds/transfers subject to D.O.R. liens: Susan Machado (Nursing Home) VOTED: to approve the refunds and transfers.

2 1/23/19 Regular Meeting 229 Retirement/survivorship applications: Edward Boiros (Fire Dept.) Superannuation, Group 4, 02/02/2019 Janis Interbartolo (School Dept.) Superannuation, Group 1, 03/17/2019 VOTED: to approve the retirements. Deaths Mary Braga, superannuation, dod 1/12/19, Option B refund payable. Dorothy Ratcliffe, superannuation, dod 1/8/19, Option A no further benefits payable. Ellen Peterson, superannuation, dod 12/23/18, Option A no further benefits payable. Rita Sullivan, superannuation, dod 12/19/18, Option A no further benefits payable. Leo Simmons, superannuation, dod 12/20/18, Option B funds used up. Daryl Bushee, superannuation, dod 12/27/18, Option B refund payable. VOTED: to acknowledge deaths and place on file. Make-up/redeposits and liability for creditable service: there were none. PERAC Memo s and correspondence: PERAC Memo #35/ Disability Data PERAC Memo #1/ CMR 10:10(3) & 10:15(4) Annual Review of Medical Testing PERAC Memo #2/2019 Mandatory Retirement Board Member Training 1st Quarter 2019 PERAC Memo #3/ Limits under Chapter 46 of the Acts of 2002 PERAC Memo #4/ Limits under Section 23 of Chapter 131 of the Acts of 2010 PERAC Memo #5/2019 COLA Notice PERAC Memo #6/2019 Actuarial Data VOTED: to receive and place on file all memo s. VOTED: to approve 2.8% COLA as of 7/1/2019 as detailed in PERAC memo #5/2019 and to post a 30-day notice to consider amending the COLA up to the 3% maximum. Investments & accounting: Accounting reports for m/e 11/30/18 Trial Balance, Cash Receipts & Disbursements, and Journal Entries. Bristol County Savings Bank Checking account statement and reconciliation as of 11/30/2018. After the Board s full review of all reports, it was voted as follows: VOTED: to approve the accounting reports and bank statement & reconciliation. Investments Purchased ($8,766,327.76) & Sold $8,710, for m/e 11/30/2018. VOTED: to approve all investment purchases & sales for November 2018.

3 1/23/19 Regular Meeting 230 Funding & Budget requests: The Board reviewed the 2019 Retirement Expense budget and contracts for retirement staff. Member Hebert presented a spreadsheet detailing proposed salary increases for staff as stipulated at the last meeting. 3% 1/1/19; 2% 1/1/2020; and 2% 1/1/2021 and update to longevity for each staff member according to years of creditable service. VOTED: to approve the increases for staff according to the spreadsheet. VOTED: to approve the 2019 Expense budget for $615,000 (from the funding schedule) and Investment-related expenses for $2,015,000 for a grand total budget for 2019 of $2,630,000. Travel, Education & Conferences: there were none. Legal matters: The Board reviewed legal expenses of $3, for m/e 12/31/2018 for Atty. Michael Sacco. VOTED: to approve the legal expenses for December Notice of Appeal Steven DeCosta VOTED: to receive and place on file. Executive Director s report: Ex. Director Slivinski gave the board an update on the following: Newsletter update postage for bulk mailing totaled $ and the letters will be mailed out next week. Assistant Retirement Director illness Ass t. Director Kathy Maki will be out of work for a period of time while she recovers from health issues. The Board discussed the matter and decided to request Ms. Maki to apply for the Family Leave Medical Act (FMLA) for up to a 12- week period in order to qualify her for extended time off. A note from her physician will then be required for her to return to work. The Board met with Admin. Asst. Karen Medeiros to see if she would want to work out-of-grade in the Assistant Director s position during Ms. Maki s absence. Ms. Medeiros accepted this. Ex. Dir. Slivinski requested a part-time temporary employee to assist in the office during Ms. Maki s absence. The Board also approved temporary help for 17 hours per week at $15/hour. OLD BUSINESS: there was none. NEW BUSINESS: Taunton Nursing Home Discussion of possible closure Member Enos requested the Board to have current actuarial consultant Dan Sherman of Sherman Actuarial Services to do a study on the pension costs for the possible closing of the Taunton Nursing Home. The parameters would include current active employee costs for those with at least 8 years of creditable service or more along with the remaining amortization on the pension liability for retirees.

4 1/23/19 Regular Meeting 231 On the motion by Amaral, seconded by Smith, it was unanimously VOTED: to have Dan Sherman calculate the Nursing Home pension costs for possible closure. EXECUTIVE SESSION: At 1:13 p.m., Chairperson Hebert entertained a motion to go into Executive Session pursuant to M.G.L. c. 30A, s. 21(a)(3) to review survivor benefits under Section 12(2)d and Section 9 for Paula DeForitis, widow of Police officer Christopher DeForitis who was deceased 9/30/18. Also to be reviewed were the medical panel report on Jason Martin and the application for Accidental Disability of Alfred Borges, Jr. The Board noted that it would reconvene in open session following the executive session. A roll call vote was taken and recorded as follows: Member Amaral YES ; Member Enos YES ; Member Hebert YES ; Member Smith YES. (The minutes of the executive session are kept in a separate minute book) Open Session 2:12 p.m. VOTED: to record the votes that were taken during the executive session in open session. VOTED: to accept Atty. Michael Sacco s recommended decision that the standard for justifiable cause was not met by Paula Deforitis for Section 12(2)d survivor benefits. Therefore survivor benefits were denied and the Board instead granted benefits under G.L. c. 32, Section 12B to Christopher Deforitis dependent child, Brandon Deforitis. Also to notify Mrs. Deforitis and other parties of the decision and right(s) to appeal. VOTED: to accept the report of the medical panel and approve the Fire Chief s application for Involuntary accidental disability retirement for Jason G. Martin subject to final review by PERAC. VOTED: to accept the application of Alfred Borges Jr. for accidental disability and request PERAC to convene a medical panel examination. There being no further business to come before the Board, it was voted to adjourn at 2:41 p.m.

5 1/23/19 Regular Meeting 232 APPROVED BOARD OF RETIREMENT Ann Marie Hebert, Ex-Officio, Chairperson Paul J. Slivinski, Executive Director Dennis Smith, Elected Member Barry Amaral, Appointed Member Absent from meeting Peter H. Corr, Elected Member Gill E. Enos, Appointed Member