MINUTES FOR THE SPRINGFIELD RETIREMENT BOARD MEETING
70 TAPLEY STREET, SPRINGFIELD, MA 01104
HELD ON OCTOBER 4, 2017 AT 5:00 P.M.

Present: Thomas Scanlon, Patrick Burns, Robert Moynihan, Haskell Kennedy, Philip Mantoni, Attorney Alfredo ViVenzio, Executive Director, Susana Baltazar, Judy Dziobek, Recording Clerk, Jaquan Davis, Mark Giannini, Commissioner Joseph Conant, Michael Nelligan, Nicole Contois, JoAnn White, Anthony Basile

Chairman Scanlon called the meeting to order at 5:00 P.M.

Agenda Item #1-Minutes
Motion made by Kennedy to approve the minutes of the meeting held on September 6, 2017, second by Moynihan and voted unanimously.

Agenda Item #2-Involuntary Accidental Disability and Involuntary Ordinary Disability Applications-Jaquan Davis/Fire Department
EXECUTIVE SESSION: Motion made by Kennedy and second by Burns to enter into Executive Session and then return to Open Session. Kennedy, yes, Mantoni, yes, Burns, yes, Moynihan, yes, Scanlon, yes.

Executive Session to discuss the member’s physical condition as in the applications for Involuntary Accidental and Involuntary Ordinary Disability benefits.

Agenda Item #3-Accidental Disability-Mark Giannini/Fire Department
Motion made by Moynihan to accept the responses of the medical panel, the evidence of the Accidental Disability application and approve the disability benefits for Mark Giannini, second by Kennedy and voted unanimously.

Agenda Item #4-Michael Nelligan from Powers and Sullivan (City outside Auditors)
Michael Nelligan addressed the Board and gave an overview of the audit report completed of the Springfield Retirement System for the year ending December 31, 2016. PERAC provided GASB information as required for the audit report. The audit report included the employer allocations regarding the Springfield Water & Sewer Commission, the Springfield Housing Authority, and the City of Springfield. Upon review of the financials of the Springfield Retirement System, it is the opinion of Powers and Sullivan that the financial statements present fairly in all material respects in accordance with the accounting principles generally accepted in the United States of America.

Agenda Item #5-Superannuations
Motion made by Mantoni to accept the following Superannuations: Evelyn Ayala, Paraprofessional, School Department, with 17 years and 11 months as of 11/24/17; Catherine M. LaPine, Paraprofessional, School Department, with 20 years and 6 months as of 10/21/17; Frank Lewinski, Motor Equip Repairman, Police Department, with 11 years and 10 months as of 10/7/17; Joan Pavia, Paraprofessional, School Department, with 10 years and 4 months as of 10/8/17, second by Kennedy and voted unanimously.

Agenda Item #6-Warrants
Motion made by Kennedy to approve and reaffirm the payment of the following warrants: Warrant #42 Refunds in the amount of $252,071.26, Warrant #43 Refunds in the amount of $27,447.32, Warrant #44 Transfers in the amount of $28,866.94, Warrant #45 Refunds in the amount of $4,769.50, Warrant #46 Expenses in the amount of $4,435.55, Warrant #47 Expenses in the amount of $66,065.66, Warrant #48 September Retiree allowances in the amount of $6,306,203.38 and redemption from the PRIT fund in the amount of $5,500000.00, second by Burns and voted unanimously.

Agenda Item #7-Refunds/Transfers to Other Systems
Motion made by Burns to accept the fifteen (15) requests for refunds and transfers to other systems, second by Kennedy and voted unanimously.

Agenda Item #8-Redeposit of Refunds and Makeup of Contributions
Motion made by Burns to allow the makeup of contributions to Katherine Shea, Education Coordinator, Parks Department, purchasing 2 months at the Parks Department as a Recreational Leader in 2005, second by Kennedy and voted unanimously.

Agenda Item #9-Director’s Report
Executive Director, Susana Baltazar, informed the Board that PERAC has received the required information from disability retirees under MGL, Chapter 32 Section 91A. Ms. Baltazar also informed the board that the following retirees requested to have their Excess Earnings under MGL, Chapter 32, Section 91A, deducted from their retirement allowance: Brian Fitzgerald, Stephen Hill, Connie Houle and James Kervick. Motion was made by Burns to allow up to a maximum of six months to repay the amount owed, second by Kennedy and voted unanimously. Regarding the outstanding Benefit Verification Forms, additional requests have been made. Executive Director Baltazar also gave an overview of the procedure regarding refunds and transfers to other systems, and informed the Board that the PRIM Investor Conference will be held on November 9, 2017 at Holy Cross, Worcester MA.

The Executive Director submitted the 2018 Administrative Budget and after review, a motion was made by Mantoni to include a 1% cost of living increase and approve and adopt the calendar year 2018 Administrative Budget as proposed in the amount of $3,010,802.62, second by Moynihan and voted unanimously.

Ms. Baltazar also informed the Board that the PERAC approvals were received for Section 101 survivor benefits to the beneficiary of Charles Allen, Jr.-Police Department, and 12(2)(d) survivor benefits for the beneficiary of James DelNegro-Facilities.

Agenda Item #10-Attorney’s Report
None

Agenda Item #11-Old Business
None

Agenda Item #12-New Business
None

F. Y. I. PERAC Memos, #28 Selection of Fifth Member and Board Employees, #29 Vendor Disclosures, August PRIT Fund Update, Trial Balance, Adjusting Entries, Receipts, Disbursements and General Ledger for the month of August, Treasurer’s Reconciliation for the month of July, Budget Balances as of September, Monthly Transfers for September, Recent Retiree Deaths, Crescendo Ventures Distribution Information

Motion made by Kennedy to adjourn at 6:30 P.M. second by Moynihan and voted unanimously.

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Thomas M. Scanlon, Chairman

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Robert P. Moynihan, Elected Member

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Haskell Kennedy, Appointed Member

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Patrick S. Burns, Appointed Member

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Philip J. Mantoni, 5th Member