Minutes

Winthrop Retirement Board · from the Town's website · 3 pages · 1.2 MB
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Winthrop Contributory Retirement System Board Meeting Ce
Minutes from the Meeting Held on March 29, 2022, 6:00 PM A
Meeting was held remotely via Conference Call using Zoom

Present Were: Francis Carberry Karin Chavis James Feeley Dennis Boudrow
Also Present: *Paul Flanagan, Andrew Flanagan, and Attorney Jeff Turco

Chairman Carberry call the meeting to order at 6:01PM

Chairman Carberry moved the discussion about Paul Flanagan’s retirement option request to first item on the agenda.
Chairman Carberry stated that Attorney Turco had a discussion prior to the meeting with Attorney Sacco. Our counsel
stated that the language in the Domestic Relation Order was not clear to allow a change in election and the Board is not in
the position to interrupt the order. The current order states Mr. Flanagan must choose Option C and name his ex-wife,
Karen Flanagan, as the beneficiary. Attorney Turco stated he did speak with Attorney Sacco and stated they discussed that
he would submit a request to the Board to reconsider. Attorney Turco sent a two-page letter to the Board indicating their
position and request for reconsideration. Attorney Turco stated he feels this situation is unique since the participant in the
plan has the same position as the guardian/conservator. Andrew Flanagan serves as the legal appointed conservator for the
ex-wife, Karen Flanagan. Both parties’ consent to agree as to what the language states in the agreement. He further stated
that the Board is creating a case in controversy where there is none. As of now both parties agree to request the Winthrop
Retirement Board to give meaning to this agreement and urge the Board to vote in favor of Paul Flanagan choosing Option
A or B despite Attorney Sacco’s opinion. Chairman Carberry stated he feels the last sentence in Paragraph 7 is not

went on to state she would vote in favor, Karin Chavis, seconded by James Feeley, made the motion to allow Paul Flanagan
to elect Option A or B pending Attorney Turco sending proof that Andrew Flanagan is the legal representative of Karen
Flanagan. Karin Chavis asked the Retirement Coordinator to call the roll on the vote:

Chairman Carberry — No
Karin Chavis — Yes
James Feeley — Yes
Dennis Boudrow — Yes

Motion carried 3-1. At this time Attorney Turco, Paul Flanagan and Andrew Flanagan left the meeting at 6:16 PM.

Voted on a motion by Karin Chavis, seconded by James Feeley, to approve the Retirement Board minutes for the meeting
held on February 22, 2022. 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 approve the Retirement System Warrant (Payroll,
Accounts Payable, Investment transfers) for March 2022 in the amount of $622,773.79. After a roll call vote the motion
passed 4-0.

Voted on a motion Karin Chavis, seconded by James Feeley, to approve the transfer of funds in the amount of $500,000,
effective April 1, 2022, from PRIM to Eastern Bank to cover payroll and accounts payable for April 2022. After a roll call
vote the motion passed 4-0.

Voted on a motion by James Feeley, seconded by Karin Chavis, to approve Domenic DeMasi’s request to buyback late
entry time from July 5, 2021, through December 7, 2021. Domenic was enrolled as a member on August 31°, but due to an
oversight in the payroll department deductions were not taken. In addition, Domenic would like to buyback his part time
service in the Library from March 31, 2020, through June 20, 2021. This would provide Domenic an additional 10 months
of creditable service. After a roll call vote the motion passed 4-0,

Voted on a motion by James Feeley, seconded by Dennis Boudrow, to approve James Gioiosa’s request to buyback fou
years of military time. After a roll call vote the motion passed 4-0.

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

Name Title/Group Start Date Salary
Joseph Kovacev DPW Laborer/1 02/28/2022 $38,046.36/full time
Sean Donahue Police/4 3/14/2022 $50,936.23/full time

After a roll call vote the motion passed 4-0.

Voted on a motion by James Feeley, seconded by Karin Chavis, to approve the following transfers of accumulated
deductions to the Mass Teachers Retirement System effective March 31, 2022:

Name Winthrop’s 3(8)(c) liability:
Jennifer Arena 1.0000
Tara Beuoy 1.2500
Erin Calichman 1.0000
Ashley Cimmino 2.0000
Christina Deeb 4.8333
Darnelle Esposito 2.0000
Daria Millerick 1.0000
Marygail Murphy 8.8333
Meaghan McGhee 2.0000
Nicholas Raponi 3.1667

After a roll call vote the motion passed 4-0.

Voted on a motion by James Feeley, seconded by Dennis Boudrow, to approve Michael Hickey’s Application for
Voluntary Superannuation Option C, beneficiary Stacie Hickey, effective May 8, 2022. Michael is the Maintenance
Supervisor for Winthrop Housing and has 36.5000 years of creditable service. After a roll call vote the motion passed 4-0,

Voted on a motion by James Feeley, seconded by Dennis Boudrow, to approve the 2021 Annual Statement — emailed to the
Board for review on March 9, 2022. After a roll call vote the motion passed 4-0.

Old Business

Chairman Carberry presented an update to the Board on the Draft Motion to the Town Council on COLA increase. The
Retirement Coordinator will submit to Town Council Clerk.

The Retirement Coordinator updated the Board on Pension Technology Group ESS process. Morgan Records Management
did a site visit to assess the amount of files to be scanned and to provide a more accurate cost on the scanning project. The
coordinator hopes to have files scanned starting the last week in April to get the project off the ground.

New Business

The coordinator updated the Board on the PRIM cash request deadlines request. PRIM has stated that all redemption
requests must received by 12:00PM one business day prior to the redemption date.

Administrators Announcements:
Option C survivor Patricia Keough passed away on February 19, 2022

Michelle Church, Retirement Coordinator attended the PERAC Cybersecurity for Retirement Boards webinar on
February 28, 2022

Michelle Church attended the PRIM Cash Transaction Processes and Procedures webinar on March 9, 2022
Statement of Financial Interest for Board members are due to PERAC by May 1, 2022
The next Board meeting is tentatively scheduled for April 19, 2022, at 5:00 PM.

Voted on a motion by Karin Chavis, seconded by James Feeley, to adjourn at 6:35PM. After a roll call vote the motion

passed 4-0.

Francis Carberry Karin Chavis

Dennis Boudrow