Minutes

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Winthrop Contributory Retirement System Board Meeting "
Minutes from the Meeting Held on September 28, 2021, 6:00 PM al
Meeting was held remotely via Conference Call using Zoom
Present Were: Francis Carberry James Feeley Karin Chavis Dennis Boudrow
Also Present: * Attorney Michael Sacco and ** John Boorack, PERAC

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Chairman Carberry called the meeting to Order at 6:02 PM
Welcome to the Board Dennis Boudrow

Attorney Sacco was present to discuss how the Board should move forward with the outstanding reconciliation issue with
the Treasurer’s office. Voted on a motion by Karin Chavis, seconded by James Feely to approve Attorney Sacco to send a
letter to PERAC seeking intervention and to copy the Town Council and Town Manager. After a roll call vote the motion
passed 4-0. *Attorney Sacco left the meeting after the vote

John Boorack from PERAC reviewed the appropriation and funding schedules. He will provide the Board with an updated
funding schedule before the October meeting on a $13,000 COLA base. The Board will review and vote on a funding
schedule at the October meeting. **John Boorack left the meeting.

Voted on a motion by Karin Chavis, seconded by James Feeley, to approve the Retirement Board minutes for the meeting
held on August 31, 2021. After a roll call vote the motion passed 3-0 with Dennis Boudrow abstaining.

Voted on a motion by Karin Chavis, seconded by James Feeley, to approve the Retirement System Warrant (Payroll,
Accounts Payable, Investment transfers) for September 2021 in the amount of $1,659,332.19. After a roll call vote the
motion passed 3-0 with Dennis Boudrow abstaining.

Voted on a motion by James Feeley, seconded by Karin Chavis to transfer of funds from Eastern Bank to PRIT of
appropriation money received effective October 1, 2021, in the amount of $750,000. After a roll call vote the motion
passed 4-0,

Voted on a motion by Karin Chavis, seconded by James Feeley, to approve the following acceptances at 9% + 2%:

Name Title/Group Start Date Salary

Kevin Oliva — Firefighter/4 8/23/2021 $52,514.70/full time _
Devin Racow F irefighter/EMT/4 8/23/2021 $55,369.34/full time
Dominick Sanzone School custadian/1 8/27/2021 $36,712.00/full time

After a roll call vote the motion passed 4-3.

Voted on 2 motion by James Feeley, seconded by Karin Chavis, to approve Diane Abbott’s request to buyback her prior
part time employment with Winthrop Public Schools as an office aide prior to entering the Winthrop Retirement System as
a full-time secretary on August 25, 2014. Once payment is received in full, she shail be awarded 7 months of creditable
service. Payment options are available and interest will accrue cn the unpaid baiance. After a roll call vote the motion
passed 4-0,

New Business

Voted on a motion by Karin Chavis, seconded by James Feeley, to approve Michelle St. Jean or any interested Board
member to attend virtual MACRS Conference to be held October 4! & 5th. After a roll call vote the motion passed 4-0.

Old Business :

The Retirement Coordinator updated the Board on the election for the 3“ and 4" seat of the Winthrop Retirement Board fo:
the term commencing September 21, 2021, through September 20, 2024. She stated that 483 ballots were mailed and 158
were returned with James Feeley and Dennis Boudrow winning the election.

Administrators Announcements:
The next meeting is scheduled for Tuesday, October 26, 2021, via Zoom

Voted on a motion by Karin Chavis, seconded by James Feeley, to adjourn at 6:50 PM.

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Francis Carberry Karin Chavis

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Dennis Boudrow 4, James Feeley _