Minutes

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Winthrop Contributory Retirement System Board Meeting
1 Metcalf Square, Winthrop, Massachusetts, Harvey Hearing Room ye

Minutes from the Meeting Held on October 25, 2022, 4:00 PM

Present Were: Karin Chavis James F eeley Dennis Boudrow
Also Present: *Karen Strickland, PRIM, Town Manager, Tony Marino, *Assistant CFO Robert Powers,

*Town Treasurer Brendan Carritte and *Town Council President, James Letterie
Not Present: Terence Delehanty

Karin Chavis called the meeting to Order at 4:01PM and called the roll call.

Chairwoman Chavis introduced Laura Strickland from PRIM who presented the investment portfolio. After her
presentation ended, Laura Strickland, Robert Powers, James Letterie and Brendan Carritte left the meeting at 4:31PM.

Voted on a motion by James Feeley, seconded by Dennis Boudrow, to approve the Retirement Board minutes for the
meeting held on August 30, 2022. The motion passed 3-0.

The vote to approve the Retirement Board minutes for the meeting held on September 27, 2022, was tabled until the
November meeting so there would be a quorum of members who were present at the meeting.

Voted on a motion by Dennis Boudrow, seconded by James Feeley, to approve the transfer of funds for Carmine
Bordonaro to the MWRA Retirement Board effective October 31 » 2022. Winthrop’s 3(8)(c) liability is 4.7500 years.
The motion passed unanimously.

Voted on a motion by James Feeley, seconded by Dennis Boudrow, to approve the transfer of RETRO funds for Monica
Ford to the Everett Retirement System effective October 31, 2022. The motion passed 3-0.

Voted on a motion by Dennis Boudrow, seconded by James Feeley, to approve the Retirement System Warrant (Payroll,
Accounts Payable, Investment transfers) for October 2022 in the amount of $464,204.89. The motion passed unanimously.

Voted on a motion by James Feeley, seconded by Dennis Boudrow, to approve the Trial Balance, Cash Receipts, Cash
Disbursements and Adjustments for August 2022. The motion passed 3-0.

Voted on a motion by Dennis Boudrow, seconded by James Feeley, to approve the Eastern Bank Statement and
Reconciliation for August and September 2022. The motion passed unanimously.

Chairwoman Chavis stated she would like to table this discussion of the transfer of funds from Eastern Bank to PRIT of
appropriation money received to the November meeting.

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

Name Title/Group Start Date Salary

Zoraida Murray Community Resource/ 8/8/2022 $ 45,500.00/full time
Virginia Pittman School Nurse/1 8/28/2022 $ 60,507.00/full time
Brendan Carritte Treasurer/| 8/29/2022 $110,000.00/full time
Imani Combs Deputy Treasurer/1 8/29/2022 $78,000.00/full time
Andrea Rodriguez School ESP& Office Aid/1 8/29/2022 $ 27,134.12/full time
Danielle Navarro School ESP/1 8/30/2022 $27,134.00/full time
Robin Fowle School ESP/1 8/30/2022 $19,437.00/full time
Norina Schirripa School Nurse/1 8/30/2022 $50,115.00/full time

Eve Sennott School caf/1 10/12/2022 $13.50/per hour/full time
Brenton Crusinberry _ Firefighter/4 9/27/2022 $54,636.90/full time
Kelli Conway School payroll/1 9/26/2022 $44,783.00/full time
Susan DaSilva School ESP/1 9/30/2022 $22,712.97/full time/pro-rated
Nancy Banfield School Physical Therapist/1 10/3/2022 $37,800.00/full time

\cc = 5

Laura Opincaru School ESP/1 10/3/2022 $19,853.19/full time/pro-rated
Marc Ferullo Firefighter/EMT/4 10/16/2022 $57,606.15/full time
Michael Moro Firefighter/4 10/16/2022 $54,636.29/full time

The motion passed 3-0.

Voted on a motion by James Feeley, seconded by Dennis Boudrow, to approve John Nalen’s Application for Voluntary
Superannuation Option C, beneficiary Janet Nalen, effective November 23, 2022. John is employed by the DPW and has
10.0000 years of creditable service. The motion passed 3-0.

Voted on a motion by Dennis Boudrow, seconded by James Feeley, to approve Nikolas Beshere’s request to buyback the
time he was employed by Winthrop Public Schools prior to entering the Winthrop Retirement System: January 15, 2014-
July 20, 2022, 1.0833 years of service. His service time is as follows:

Year #of hours worked/creditable service _ Salary
2014-2016 earned less than $5,000 each year not eligible
2017 449.25 (2 months creditable service) $5,242.25
2018-2020 earned less than $5,000 each year __ not eligible
2021 630.00 (4 months creditable service) $17,347.50
2022 910.00 (7 months creditable service) $27,733.50

Payment options are available and interest will accrue on the unpaid balance.
The motion passed unanimously.

Old Business

Chairwoman Chavis stated that the Retirement Coordinator, Michelle Church, provided the needed information to Attorney
Sacco for the DALA response on Ralph Cali 91(b) overearnings. Mr. Cali has until December 7, 2022, to respond to
DALA. The Board continues to withdraw $1,100 a month from Mr. Cali’s pension towards repayment.

Chairwoman Chavis stated the Board received notice from PERAC denying stipend paid to Kathleen Rappa as regular
compensation

The Board has received a letter from Frank Valeri, President of Mass Retirees addressed to the Town Council requesting
they increase the COLA base to $13,000. The letter was sent to Town Clerk, Denise Quist to be distributed to Town
Council and Town Manager Anthony Marino, reviewed the letter at the meeting and asked when the Board last tried to
increase the base through the Council. The Board hopes to have this on Town Council agenda for their November meeting.

New Business

The next item on the agenda was to discuss the Section 91A excess earnings collection issue on John Hayes. Mr. Hayes has
been notified on numerous occasions about the excess earnings and PERAC needs a decision. Voted on a motion by

Dennis Boudrow, seconded by James Feeley, to withhold Mr. Hayes pension check but pay him enough to cover his health
insurance and his dependent payments. The motion passed unanimously.

Chairwoman Chavis stated the next item on the agenda was to vote to waive repayment of benefit overpayments of retirees
per Chapter 32 Section 20(5)(b)(3), these errors were discovered by PERAC auditor. The Retirement Coordinator stated
there were two retirees overpaid since 2018. The errors were calculated incorrectly and the retirees had no knowledge of
the error or wrongdoing, the Retirement Coordinator requested that the Board vote to waive the overpayments in place of
the retirees requesting a hearing since they met the criteria. Voted on a motion by James Feeley, seconded by Dennis
Boudrow to waive the repayments. The motion passed 3-0.

Administrators Announcements:

Option B retiree Marilyn Kaplan passed away on September 4, 2022

Option A retiree Grace Corbett passed away on October 4, 2022

PERAC Memo #24/2022 Mandatory Board Training — 4" Quarter was emailed to the Board on September 27, 2022
Auditors have been back on site completing the audit of the Winthrop Retirement System

Michelle Church attended the MACRS Fall Conference in Springfield, October 3"!-5"

Retiree and survivor affidavits will be mailed by October 31, 2022

The next meeting is scheduled for November 29, 2022, at 4:00PM in the Harvey Room. Chairwoman Chavis stated the
December meeting will be held December 20" at 4:00 PM.

Voted on a motion by James Feeley, seconded by Dennis Boudrow to adjourn at 4:57PM. The motion passed 3-0.

Karin Chavis

Terence Delehanty

Dennis Boudrow es Feeley