Minutes

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Winthrop Contributory Retirement System Board Meeting Oe
1 Metcalf Square, Winthrop, Massachusetts, Harvey Hearing Room Wh
Minutes from the Meeting Held on December 20, 2022, 2022, 4:00 PM 4
Present Were: Karin Chavis Dennis Boudrow Terence Delehanty James Feeley

Chairwoman Chavis called the meeting to Order at 4:06 PM and the Retirement Coordinator called the roll call.
Karin Chavis -Present

Terence Delehanty — Present
Dennis Boudrow — Present
*James Feeley — Not Present

Voted on a motion by Dennis Boudrow, seconded by Terence Delehanty, to approve the Retirement Board minutes for the
meeting held on November 29, 2022. The motion passed 3-0.

*James Feeley entered the meeting. Voted on a motion by Terence Delehanty, seconded by Dennis Boudrow, to approve

the Retirement System Warrant (Payroll, Accounts Payable, Investment transfers) in the amount of $438,224.80 for
December 2022. The motion passed unanimously.

There was no vote to approve the Trial Balance, Cash Receipts, Cash Disbursements and Adjustments for November 2022
since the PRIM Statement had not been received yet.

Voted on a motion by Terence Delehanty, seconded by Dennis Boudrow, to approve the Eastern Bank Statement and
Reconciliation for November 2022 with a general ledger balance of $3,092,572.87. The motion passed unanimously.

Voted on a motion by Dennis Boudrow, seconded by Terence Delehanty, to approve the acceptance of Frank Ferrara,
Library/1, November 14, 2022, $42,774.81/full time. The motion passed unanimously.

Voted on a motion by Terence Delehanty, seconded by Dennis Boudrow, to approve the acceptance of Erin Kelly, School
ESP/1, December 8, 2022, 17,368.07/full time (prorated salary). The motion passed unanimously.

Voted on a motion by Dennis Boudrow, seconded by Terence Delehanty, to approve the acceptance of Jaclyn Sernavsky,
School ESP/1, December 5, 2022, $12,816.00/full time (prorated salary). The motion passed unanimously.

Voted on a motion by Terence Delehanty, seconded by Dennis Boudrow, to approve the acceptance of Michael Brown,
DPW/1, December 12, 2022, $ 40,453.79/full time. The motion passed unanimously.

Voted on a motion by Terence Delehanty, seconded by Dennis Boudrow, to approve Stephen Babcock’s Application for

Voluntary Superannuation Option B, effective January 23, 2023. Stephen is employed by the DPW and has 29.4167 years
of creditable service. The motion passed 4-0.

Voted on a motion by Terence Delehanty, seconded by Dennis Boudrow, to approve Kelli Conway’s request to buyback
the time she was employed by Winthrop Public Schools prior to entering the Winthrop Retirement System: January 1,
2018-September 28, 2022, 1 year and seven months of service. Her service time is as follows:

Year #of hours worked/creditable service Salary
2018 584.50 (3 months creditable service) $8,127.50
2019 * °660.95 (4 months creditable service) $9,297.30
2020 593.00 (4 months creditable service) $8,302.00
2021 734.75 (4 months creditable service) $10,482.75
2022 634.00 (4 months creditable service) $9,510.00

Payment options are available and interest will accrue on the unpaid balance. The motion passed 4-0.

Ola Business

Terence Delehanty stated that the Retirement Coordinator should send a memo to the Town Manager as well as department
heads notifying them that the State of Emergency ends on December 3 1, 2022.

Chairwoman Chavis stated unless there is an update on this issue, Section 91A excess earnings collection issue of John
Hayes, the matter can be removed from the agenda.

Chairwoman Chavis stated that the Finance Commission was going to address the COLA base increase and vote at a
meeting to be held later in the evening at 6:15 and advise the Town Council at the 7:00PM on their recommendation.

Voted on a motion by Terence Delehanty, seconded by Dennis Boudrow, to increase the Retirement Coordinator’s salary
$3,000 retroactive to November 1, 2022. The motion passed 4-0.

Chairwoman Chavis stated the next item was to discuss the ex-officio stipend of $3,000. The Retirement Coordinator
stated that there was nothing found in the Retirement Board minutes or Town Council minutes approving the stipend for the
ex-officio. Terence Delehanty suggested that the Board hold off until there is a council prerogative and the council votes to
adopt the measure. Voted on a motion by Terence Delehanty, seconded by James Feeley, that the $3,000 stipend to the

CFO/Accountant has discovered to be found procedurally defective and until the defect is removed, the Board should cease
payment. The motion passed 4-0:

The Retirement Coordinator stated that there were 12 missing retiree affidavits. Voted on a motion by Dennis Boudrow,
seconded by James Feeley to extend the deadline to January 12, 2023. The motion passed 4-0. |

New Business :

The Retirement Coordinator stated that the Board supplemental guidelines that were originally published allowed for
$32.00 a day meal allowance. Terence Delehanty suggested that the Board adhere to the IRS guidelines on meal
allowances so to avoid any scrutiny. Voted on a motion by Terence Delehanty to accept the meal allowance not to exceed
the Federal IRS Guidelines, seconded by Dennis Boudrow. The motion passed 4-0.

The Retirement Coordinator discussed the 840 CMR 28.00 Electronic Signatures per PERAC Memo #28/2022. The Board
has agreed to table the discussion until a later date.

Administrators Announcements:

Superannuation Option B retiree, Rose Brown, passed away on December 1, 2022

John Nalen, Superannuation C retiree moved his retirement date from November 23, 2022 to December 2, 2022

The next meeting is scheduled for January 24, 2023, at 4:00PM in the Harvey Hearing Room

Voted on a motion by Terence Delehanty, seconded by Dennis Boudrow to adjourn at 4:50 PM. The motion passed 4-0,

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Karin Chavis

/ Terence Delehanty

Dennis Boudrow

ames Feeley