Minutes

Winthrop Retirement Board · from the Town's website · 2 pages · 1.0 MB
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Winthrop Contributory Retirement System Board Meeting

1 Metcalf Square, Winthrop, Massachusetts, Harvey Hearing Room mY
Minutes from the Meeting Held on July 26, 2022, 4:00 PM y’
Present Were: Karin Chavis James Feeley Dennis Boudrow Terence Delehanty y
Also Present: ** Attorney Michael Sacco, *Ralph Cali and Retirement Coordinator, Michelle Church

Chairwoman Chavis called the meeting to order at 4:04 PM.

The first item on the agenda was to discuss Ralph Cali 91(b) Overearnings. Chairwoman Chavis provided a brief synopsis
regarding the overearnings of Mr. Cali dating back to 2011. She stated that at the June 2022 meeting the Board voted to
start withholding $1,100.00 starting with the July 2022 pension payment. Mr. Cali was notified by mail and informed he
could appear before the Board to discuss, Mr. Cali stated he had concerns as to the amount being deducted since it is
summer and he is not working for the School Department. Terence Delehanty stated his concern is Mr. Cali’s hours and
earnings in the future and accruing liability. Mr. Cali had questioned what the DALA Board decision could possibly mean

different payment plan. Mr. Cali asked if there was a way for the Board to put off its decision for one more month and
Chairwoman Chavis explained that the withholding had already started with the July payment and it will also be deducted
for the August payment when the Board meets again August 30". Mr. Cali stated he would like to discuss with his wife and

asked to revisit this in August. Chairwoman Chavis stated that the discussion will be tabled to next month. *Mr. Cali then
left the meeting.

The next item on the agenda was to discuss the pensionable status of one-time renumeration stipend. The Retirement
Coordinator stated that the Deputy Treasurer who is set to retire on August 1‘, has been serving as the full time Treasurer
since the departure on July 8, 2021 of the previous Town Treasurer, and has been given a one lump sum payment for
services provided for the last year. The question is now whether this is pensionable or not. Attorney Sacco stated that

Sacco left the meeting.

Voted on a motion by Terence Delehanty, seconded by James Feeley, to approve the COLA Retirement Board minutes for
the meeting held on June 28, 2022. The motion passed 4-0.

Voted on a motion by Terence Delehanty, seconded by Dennis Boudrow, to approve the Retirement Board minutes for the
meeting held on June 28, 2022. The motion passed 4-0,

Voted on a motion by James Feeley, seconded by Terence Delehanty, to approve the Retirement System Warrants dated
June 2, 2022, and July 13, 2022, net payment of zero to replace returned deposit and lost checks. The motion passed 4-0.

Voted on a motion by Terence Delehanty, seconded by Dennis Boudrow, to approve the Retirement System Warrant
(Payroll, Accounts Payable, Investment transfers) for July 2022 in the amount of $438,961.84. The motion passed 4-0.

Voted on a motion by Terence Delehanty, seconded by James Feeley, to approve the Eastern Bank Statement and
Reconciliation for June 2022. The motion passed 4-0.

Voted on a motion by Terence Delehanty, seconded by Dennis Boudrow, to transfer funds, in the amount of $250,000,

effective August 1, 2022, from PRIM to Eastern Bank to cover payroll and accounts payable for August 2022. The motion
passed 4-0,

Voted on a motion by James Feeley, seconded by Dennis Boudrow, to approve William Hagemeister’s Application for
Voluntary Superannuation Option B, effective June 28, 2022. William was a Winthrop Police Officer with 32,0833 years
of creditable service. The motion passed 3-0 with Terence Delehanty abstaining.

Voted on a motion by Terence Delehanty, seconded by James Feeley, to approve Kathleen Rappa’s Application for
Voluntary Superannuation Option B, effective August 1, 2022. Kathy was the Deputy Treasurer with 10 years of
creditable service. The motion passed unanimously.

Voted on a motion by Terence Delehanty, seconded by James Feeley, to approve the Retirement Coordinator’s Longevity
payment effective July 1, 2022, in the amount of $975.00. The motion passed 4-0.

Old Business

The Retirement Coordinator stated the system is not quite up and running since the scan feature is not complete. Board
members who are members and retirees of the system were emailed the link to look at the system and their profiles.

Chairwoman Chavis discussed that 28 more cities and towns were given a COLA base increase. It was noted that State
retirees and teachers were given a 5% COLA. The Board discussed they would like this item to stay on the agenda.

New Business

Administrators Announcements:
PERAC Memo #17/2022 34 Quarter Board Member Training was emailed to the Board on July 11, 2022

PERAC Memo #18/2022 Expiration of Open Meeting Law Waiver emailed to the Board on July 13, 2022
PERAC Memo #19/2022 Extension of Open Meeting Law Waivers emailed to Board on July 19, 2022

PERAC auditors are on site aud iting the records of the Retirement System for the years, 2016 ~2019. The Retirement
Coordinator stated that the auditor was pulled to work on another audit and no return date has been set.

COLA increases effective July 1, 2022, are reflected in this month’s retirement allowances
The next meeting is scheduled for August 30, 2022, at 3:30 in the Harvey Room.

Voted on a motion by Terence Delehanty, seconded by James Feeley, to adjourn at 4:56PM. The motion passed 4-0.

a, Za.

Karin Chavis

Terence Delehanty

(QL dom Isley

Dennis Boudrow es Feeley