Minutes

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Winthrop Contributory Retirement System Board Meeting a

Minutes from the Meeting Held on February 23, 2021 6:00 PM | YC

Meeting was held remotely via Conference Call using Zoom \
Present Were: Francis Carberry Anna Freedman Stacy Calla Karin Chavis )
Not Present: James Feeley (eo

Chairman Carberry called the meeting to order at 6:05 PM

Chairman Carberry moved the discussion of the request from Mass Retirees for a mailing list of Winthrop retirees to first
item on the agenda. Stacy Calla stated she received a phone call regarding this request. Stacy Calla and Chairman Carberry
acknowledged they were not familiar with this request since they have been on the Board. The Retirement Coordinator
reached out to Attorney Sacco for his opinion. Attorney Sacco stated it is something we may disclose, we are not required

Voted on a motion by Karin Chavis, seconded by Anna Freedman, to approve the Retirement Board minutes for the
Meeting held on January 26, 2021. After a roll call vote the motion passed 3-0 with Stacy Calla abstaining.

The next item on the agenda was to vote to approve the Executive Session minutes for the meeting held on

January 26, 2021. Chairman Carberry stated there were a few discrepancies in the minutes and the Board agreed to table
the vote until they were clarified.

passed 4-0,

Voted on a motion by Anna Freedman, seconded by Stacy Calla to transfer funds in the amount of $350,000, effective
March 1, 2021 from PRIM to Eastern Bank to cover payroll and accounts payable for March 2021

Voted on a motion by Karin Chavis, seconded by Stacy Calla, to approve the following acceptances:

Name Title/Group Start Date Salary

Chris Yarrow School Custodian/1 1/25/2021 $35,818.00/full time
Daniel Bertrand School Paraprofessional /1 1/28/2021 $12,945.94/ full time
Rachel Kelly Town Planning Director/1 2/1/2021 $100,000.00/full time
Daniel Stone Police Officer/4 3/2/2021 $50,936.23/full time

After a roll vote the motion passed 4-0.

Daniel entered the police academy on January 4, 2021 becoming a permanent full-time employee. The Retirement Office
was not notified of his full-time status. Daniel has now completed the New Enrollment Forms,

Voted on a motion by Stacy Calla, seconded by Anna Freedman, to approve the rollover of funds for Frank Nitti effective
February 26, 2021. After a roll call vote the motion passed 4-0.

New Business
No other new business

Old Business
The Retirement Coordinator stated that the 91A funds had been recovered in full by check in the amount of $26,990.98.

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Administrators Announcements:

FY20 Board Budget Distributed to Board Members via email on February 10, 2021.

Social Security Administration has announced that the latest COLA effective July 1, 2021 is 1.3%. Pursuant to Section
103(i), a Retirement Board is required to pay 1.3% on $12k but can Vote to grant an additional 1.7% COLA up to 3.0%,
The Board will discuss Possibly raising from $12,000 to $13,000. The Board will vote at the March meeting.

The next meeting is tentatively scheduled for March 30, 2021 via Zoom

Voted on a motion by, Stacy Calla, seconded by Anna Freedman, to adjourn at 6:20 PM. After a roll call vote the motion
passed 4-0,

Tx Eas ea Cx

Anna Freedman Francis Carberry Karin Chavis

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(Stacy Calla James Feeley