Minutes

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Winthrop Contributory Retirement System Board Meeting "
1 Metcalf Square, Winthrop, Massachusetts, Harvey Hearing Room
Minutes from the Meeting Held on July 30, 2024, 4:00 PM
Present Were: Karin Chavis Dylan Cook Dennis Boudrow
Not Present: Terence Delehanty Stephen Rogers

Chairwoman Chavis called the meeting to order at 4:04 PM. The Retirement Coordinator called the roll:
Karin Chavis — Present

Dylan Cook — Present

Dennis Boudrow — present
Terence Delehanty — not present
Stephen Rogers — not present

Welcome to the Board Stephen Rogers who won the election for the 3" seat of the Retirement Board by a vote of 82-49,

Chairwoman Chavis stated the vote to approve the Retirement Board minutes for the meeting held on June 25, 2024, would
be tabled until the August meeting.

Voted on a motion by Dylan Cook, seconded by Dennis Boudrow to approve the Retirement Board minutes for the meeting
held on June 26, 2024. The motion passed unanimously.

Voted on a motion by Dylan Cook, seconded by Dennis Boudrow, to approve the Eastern Bank Statement and
Reconciliation for June 2024 in the amount of $217,288.60. 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 May and June 2024. The motion passed 3-0.

Voted on a motion by Dylan Cook, seconded by Dennis Boudrow, to approve the transfer of $100,000, effective August 1,
2024, from PRIM to Eastern Bank to cover payroll and accounts payable for August 2024. The motion passed 3-0.

Voted on a motion by Dennis Boudrow, seconded by Dylan Cook, to approve the acceptance of Patrick Feeley, effective
July 15, 2024, at 9% + 2%, $44,492.50, full time. Patrick is employed by the DPW asa laborer. The motion passed 3-0.

Voted on a motion by Dylan Cook, seconded by Dennis Boudrow, to approve James Freeman’s Application for Voluntary
Superannuation Option C, beneficiary Pamela F: reeman, effective October 3 1, 2024. James was a police officer and has
25.250 years of creditable service. The motion passed 3-0.

Voted on a motion by Dennis Boudrow, seconded by Dylan Cook, to approve Kathryn Dixon’s Application for Voluntary
Superannuation Option B, effective September 1, 2024. Kathy was the Director for the Council on Aging and has 31.5833
years of creditable service. The motion passed 3-0.

Voted on a motion by Dylan Cook, seconded by Dennis Boudrow to approve .7500 year of creditable service that the
Winthrop Retirement Board will accept upon full payment by Domenic Sanzone to the MWRA Retirement System.
Domenic had taken a full refund of his accumulated deductions. He worked for the school department from *8/27/2021-

5/27/2022. It was noted that the year was incorrect on the agenda, the correct year is stated above. The motion passed
3-0.

Voted on a motion by Dylan Cook, seconded by Dennis Boudrow, to approve 3 months of creditable service that the
Winthrop Retirement Board will accept upon full payment by Roseann Mazzuchelli to the Melrose Retirement Board.

Year #of hours worked/creditable service _ Salary
2005 70 hours — N/A, 2006 — 118 hours, N/A

2007 219 hours — one month creditable service
2008 154 hours — one month creditable service
2009 176 hours - one month creditable service

2010 61 hours- N/A, 2011- 15 hours-N/A, 2012 — 79.5 hours-N/A, 2013 30 hours prior to entering system, N/A
The motion passed 3-0.

Old Business

Voted on a motion by Dylan Cook, seconded by Dennis Boudrow to open the discussion on the vote to change the
Supplemental Guidelines as it relates to Cafeteria Employees. The motion passed 3-0. Board member Cook stated he had a
discussion with the superintendent to include stronger language in the cafeteria hire letters, stating that they would work
19.5 hours per week, with a potential for new negotiations to offer them a higher hourly rate. Voted on a motion by Dylan
Cook, seconded by Dennis Boudrow, to table the matter until the August meeting. The motion passed unanimously.

Winthrop Creditable Service Regulation

Any individual who is permanently employed twenty (20) or more hours per week by the Town of Winthrop or the Winthrop Housing
Authority shall become a member of the Winthrop Retirement System (“System”). For the purpose of this regulation, for Winthrop
Public School employees, “permanently employed 20 or more hours per week” shall mean that the employee is paid for at least 20 hours
each and every week during the school year, with the exception of vacation weeks during the school year, and during the summer
months when school is not in session. In addition to the foregoing, an individual or elected official must earn at least $5,000 per year in
regular compensation and/or be hired with a salary rate that equals or exceeds $5,000 per year to be eligible for membership in the
System. For example, if an employee is hired on December 1°, is guaranteed at least 20 hours per week and is guaranteed a salary of
$30,000, that employee will not receive $5,000 in that calendar year but will be eligible for membership in the System because the
annual salary rate is at least $5,000 per year.

New Business

The Retirement Coordinator stated that Dennis Boudrow was the only person to submit nomination papers. Voted on a
motion by Dylan Cook, seconded by Karin Chavis, to declare Dennis Boudrow the Fourth member of the Winthrop
Retirement System. The motion passed 3-0.

Administrators Announcements:
COLA increases effective July 1, 2024, are reflected in this month’s retirement allowances

PERAC Memo #17/2024 3 Quarter Board Member Training was emailed to the Board on July 8, 2024
The next meeting is scheduled for August 27, 2024, at 4:00 PM in the Harvey Room.

Voted on a motion by Dylan Cook, seconded by Dennis Boudrow to adjourn at 4:26 PM. The motion passed

OQ, a

Dylan Cook Karin Chavis Dennis Boudrow

Terence Delehanty Stephen Rogers