Minutes

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Winthrop Contributory Retirement System Board Meeting
Minutes from the Meeting Held on April 27, 2021 6:00 PM
Meeting was held remotely via Conference Call using Zoom ibs
Present Were: Francis Carberry Karin Chavis James Feeley le
Not Present: Stacy Calla pi) L of

Chairman Carberry called the meeting to order at 6:00PM

Voted on a motion by James Feeley, seconded by Francis Carberry, to approve the Retirement Board minutes for the COLA meeting
held on March 30, 2021. After a roll call vote the motion passed 2-0 with Karin Chavis abstaining.

Voted on a motion by James Feeley, seconded by Francis Carberry, to approve the Retirement Board minutes for the meeting held on
March 30, 2021. After a roll call vote the motion passed 2-0 with Karin Chavis abstaining.

Voted on a motion by Karin Chavis, seconded by James Feeley, to approve the Retirement System Warrant (Payroll, Accounts Payable,
Investment transfers) for April 2021 in the amount of $547,662.75. After a roll call vote the motion passed 3-0.

Voted on a motion by James Feeley, seconded by Karin Chavis, to transfer of funds in the amount of $500,000, effective May 3, 2021
from PRIM to Eastern Bank to cover payroll and accounts payable for May 2021. After a roll call vote the motion passed 3-0.

Voted on a motion by James Feeley, seconded by Karin Chavis, to elect Michelle St Jean, Retirement Coordinator, Election Officer for
the upcoming election of the 3" & 4" member seats. After a roll call vote the motion passed 3-0.

Voted on a motion by James Feeley, seconded by Karin Chavis to approve the following acceptances at 9% + 2%;
Name Title/Group Start Date Salary

Joseph West DPW/1 4/5/2021 $37,484.19/full time
After a roll call vote the motion passed 3-0.

Voted on a motion by James Feeley, seconded by Karin Chavis, to approve the following application for Voluntary Superannuation
Option B retirement effective April 13, 2021:

Patricia Vozzella School Paraprofessional 30.0833 years of service
After a roll call vote the motion passed 3-0.

New Business

The Retirement Coordinator stated she will be away May 9- 23". The next meeting scheduled for May 25" will tentatively be
scheduled by Zoom. The meeting agenda will be posted by May 6, 2021.

Old Business

The following item was voted for approval at the March meeting to approve Linda Martin’s request to buyback the time she was
employed by Winthrop Public Schools/Cafeteria prior to entering the Winthrop Retirement System: October 29, 2008 — April 7, 2015
After review, it was determined the final figure to purchase service was incorrect. The new cost to buyback two years and three
months of creditable service, including buyback interest through May 31, 2021 is $6,156.75, not $4,912.94 as previously voted on.

Voted on a motion by James Feeley, seconded by Karin Chavis, to approve the revised amount of purchase in the amount of $6,156.75.
After a roll call vote the motion passed 3-0.

Her service time is as follows:

Year #of hours worked/creditable service Salary

2008 worked less than 150 hours not eligible

2009 earned less than $5,000 not eligible

2010 672.55 (4 months creditable service) $5,872.51

2011 706.00 (4 months creditable service) $6,438.84

2012 729.50 (4 months creditable service) $6,718.70

2013 779.00 (5 months creditable service) $7,972.14

January 1, 2015 — August 31,2015 507.25 (3 months creditable service) $5,447.67

From September 1, 2015 through March 31, 2015, she was a permanent full-time employee and should have been enrolled in the

Retirement System. This is equal to seven months of creditable service; salary earned during this period of full-time employment was
$7,227.74.

Administrators Announcements:
PERAC Memo #14/2021 2"4 Quarter Board Training and credits due for each Board member were emailed to the Board on April 6,
2021

Group Insurance Commission (GIC) open enrollment is being held from April 5, 2021- May 7, 2021
(effective July 1, 2021)

The next meeting is scheduled for May 25, 2021 via Zoom at 6:00PM.

Karin Chavis pointed out the Winthrop Retirement Board was listed in the publication The Voice as being one of eight communities that
has not increased the COLA base and still lags behind other communities that have increased the COLA base to $13,000 and in some
cases $14,000.

Voted on a motion by Karin Chavis, seconded by James Feeley, to adjourn at 6:11pm. After a roll call vote the motion passed 3-0.

duh ax Oe.

Francis Carberry Karin Chavis

Stacy Calla mes Feeley,