Minutes
Winthrop Retirement Board · from the Town's website · 2 pages · 819 KB
open the file ↗ · original at the source ↗
Winthrop Contributory Retirement System Board Meeting 1 Metcalf Square, Winthrop, Massachusetts, Harvey Hearing Room Minutes from the Meeting Held on April 30, 2024, 4:00 PM Present Were: Karin Chavis Dylan Cook Dennis Boudrow Not Present: Terence Delehanty Chairwoman Chavis called the meeting to order at 4:00PM. The Retirement Coordinator called the roll call: Karin Chavis — Present Dylan Cook — Present Dennis Boudrow — Present Terence Delehanty — Not present Voted on a motion, by Dylan Cook, seconded by Dennis Boudrow, to approve the Eastern Bank Statement and Reconciliation for March 2024 in the amount of $1,312,217.26. The motion passed unanimously. Voted on a motion by Dennis Boudrow, seconded by Dylan Cook, to approve the Trial Balance, Cash Receipts, Cash Disbursements, General Ledger, and Adjustments for February and March 2024, The motion passed 3-0, Voted on a motion by Dylan Cook, seconded by Dennis Boudrow, to approve John English’s request to buyback the time he was employed by Winthrop School Dept to entering the Winthrop Retirement System: 6/1/2009-9/16/2009, 3 months creditable service. Payment options are available, and interest will accrue on unpaid balances. The motion passed 3-0, Old Business Chairwoman Chavis stated the Town Council voted unanimously approved the Board’s request to increase the COLA base to $14,000. The Board will vote on the COLA at the May meeting once Council minutes are approved. New Business Chairwoman Chavis stated that the Board was in receipt of both PERAC Memo #12/2024 and PERAC Memo #13/2024 Chairwoman Chavis stated the next item on the agenda was to discuss changes to Supplemental Guidelines as it relates to Cafeteria Employees. An error was discovered that a cafeteria employee had been receiving health insurance benefits since 2011. The employee is not enrolled in the Winthrop Retirement System since she does not meet the guidelines of the Retirement Board that she works a permanent 20 hour per week. The employee is seeking enrollment in the retirement system so she can qualify for health benefits. Administrators Announcements: Option D survivor, Joseph Landrigan passed away on March 14,2024 Superannuation Option A retiree, Robert Oliver passed away on March 26, 2024, Superannuation Option C retiree, David Lessard passed away on April 12, 2024, His Option C beneficiary will continue to receive a monthly benefit. PERAC Memo #1 1/2024 2nd Quarter Board Member Training was emailed to Board members on March 28, 2023. The next meeting is scheduled for May 28, 2024, at 4:00PM in the Harvey Room ae Dylan Zook” (7 Karin Chavis Dennis Boudrow Terence Delehanty