Minutes

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Winthrop Contributory Retirement System Board Meeting vb
Minutes from the Meeting Held on May 24, 2022, 4:30 PM Y
Meeting was held remotely via Conference Call using Zoom Se

Present Were: Karin Chavis James Feeley Dennis Boudrow Terence Delehanty

The Board asked the Retirement Coordinator to call the meeting to order at 4:31 PM.

Chavis, seconded by James Feeley, to move the decision to appointing a Chair until the June meeting. After a
roll call vote the motion passed 4-0. The Retirement Coordinator asked who would serve as the interim Chair for
the meeting, voted on a motion by Terence Delehanty, seconded by James Feeley to elect Karin Chavis to serve
as Chair for the May 24" meeting. After a roll call vote the motion passed 3-0 with Karin Chavis abstaining.

Voted on a motion by James Feeley, seconded by Dennis Boudrow, to approve the Retirement Board minutes for the
meeting held on April 19, 2022. After a roll call vote the motion passed 3-0 with Terence Delehanty abstaining.

Voted on a motion by James Feeley, seconded by Dennis Boudrow, to approve the Retirement System Warrant (Payroll,

Accounts Payable, Investment transfers) for May 2022 in the amount of 468,024.82. After a roll call vote the motion
passed 4-0.

Voted on a motion by James F eeley, seconded by Dennis Boudrow, to transfer funds, effective June 1, 2022, from PRIM to

Eastern Bank to cover payroll and accounts payable for June 2022 in the amount of $350,000. After a roll call vote the
motion passed 4-0,

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

Name Title/Group Start Date Salary
Sean Gilston School ESP/1 05/02/2022 $5,217.80/pro-rated

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

Voted on a motion by James Feeley, seconded by Terence Delehanty, to approve the following transfers of accumulated
deductions effective May 31, 2022:

Name Transfer to Board: Winthrop’s 3(8)(c)
liability:
[Leif Faber Cambridge 0.4167

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

Voted on a motion by James Feeley, seconded by Terence Delehanty, to approve the refund of accumulated deductions
effective May 31, 2022:

Kevin Oliva Fire Dates of service: 8/27/21-11/9/21 0.1667 years
After a roll call vote the motion passed 4-0.

Voted on a motion by Terence Delehanty, seconded by James Feeley, to approve the refund of accumulated deductions
effective May 31, 2022:

Caroline McKinnon School ESP Dates of service: 12/15/20-2/5/21 0.0833 years
After a roll call vote the motion passed 4-0.

Old Business

Karin Chavis stated the next item on the agenda was to discuss and or vote on Ralph Cali 91(b) overearnings. Karin Chavis
Stated that it was brought to the Board’s attention at the November 2021 meeting that Mr. Cali had exceeded his earnings
and or hours for the years 201 1, 2012, 2013, 2015, 2016, 2017 and 2019 and that Mr. Cali owes the Retirement Board

$36, 425.56. A letter was sent from the Board on December 1, 2021, demanding payment. On December 14, 2021, the

first meeting. Voted on a motion by Terence Delehanty, seconded by Karin Chavis, to move the discussion on Mr. Cali
until June so he could review the files. After a roll call vote the motion passed 4-0.

Karin Chavis asked the Retirement Coordinator for the update on Pension Technology Group ESS process. The Retirement
Coordinator stated all active employee files were returned to the Board on May 16" and at that time all retiree and
accidental disability retiree files were picked up for scanning.

New Business

Karin Chavis stated that the Town Council had rejected the Retirement Board’s request to increase the COLA base from
$12k to $13k was denied. She stated the Council was looking at the funding schedule being pushed out another year and
using those funds to help pay off the debt of the OPEB and new vocational school. She will still pursue this request with the
Council and is working on insurance numbers with the Retirement Coordinator,

Administrators Announcements:
Superannuation Option A retiree Judith Walsh passed away on April 23, 2022

The next meeting is scheduled for June 28, 2022, at 3:30 PM via Zoom.

Voted on a motion by Terence Delehanty, seconded by James Feeley, to adjourn at 4:59 PM. After a roll call vote the
motion passed 4-0,

erence Delehanty

Dennis Boudrow