MINUTES FOR THE SPRINGFIELD RETIREMENT BOARD MEETING
70 TAPLEY STREET, SPRINGFIELD, MA 01104
HELD ON JUNE 1, 2016 AT 5:00 P.M.

Present: Robert Moynihan, Patrick Burns, Thomas Scanlon, Haskell Kennedy, Philip Mantoni, Attorney Alfredo ViVenzio, Executive Director Susana Baltazar, Judy Dziobek, Recording Clerk, Attorney Joseph Donnellan, Matthew Cincotta, Drew Piemonte, Linda Marciniec, John Marciniec, Attorney Christopher Cava, Brian Goggin.

Agenda Item #1-Manager Performance Review & Discussion – PRIM
Paul Todisco from PRIM was present to discuss investment performance and provided the Board with a Performance Review Information booklet dated June 1, 2016. Mr. Todisco gave the Board an update on the firm and an overview on the market. He stated that investment returns have been depressed due to the market unpredictability, but investment performance has gradually improved. The PRIM asset allocation was reviewed and questions were asked of Mr. Todisco regarding the fund’s performance and the percentages in each asset class, and how often the asset allocation is reviewed and modified. The Board thanked Mr. Todisco for his presentation.

Agenda Item #2-Minutes
Motion made by Scanlon to approve the minutes of the meeting held on May 4, 2016, second by Kennedy and voted unanimously.

Agenda Item #3-Superannuations
Motion made by Kennedy to accept the following Superannuations: Ruth Canning, Admin. Assistant, School Department, with 32 years and 7 months as of 7/2/16; Dorothy Cook, Paraprofessional, School Department, with 10 years and 9 months as of 6/22/16; Kevin P. Devine, Police Sergeant, Police Dept. with 41 years and 10 months as of 6/30/2016; John Gigliotti, Foreman III, Water/Sewer Comm. with 28 years and 7 months as of 7/13/16; Joseph F. McDowell, Deputy Dir. Facilities Plant, with 17 years and 3 months as of 7/14/16; Myrta Sierra, Paraprofessional, School Department, with 15 years and 10 months as of 6/22/16; Derwin Smith, Paraprofessional, School Department, with 16 years and 11 months as of 8/12/16; William Talty, Senior Custodian, School Department, with 39 years and 9 months as of 6/30/16; Baline Vartanian, Paraprofessional, School Department with 28 years and 9 months as of 6/24/16; Barbara White, Sr. Clerk & Typist, School Department, with 39 years as of 7/1/16, second by Scanlon and voted unanimously.

Agenda Item #4-Warrants
Motion made by Kennedy to approve the payment of the following warrants: Warrant #16 Expenses in the amount of $21,140.36, Warrant #17 Refunds in the amount of $370,839.31, Warrant #18 Expenses in the amount of $107,685.29, Warrant #19 May Retiree allowances in the amount of $5,934,687.17 and redemption from the PRIT fund in the amount of $5,425,000.00, Warrant #20 Expenses in the amount of $23,422.07, second by Scanlon and voted unanimously.
Agenda Item #5-Refunds
Motion made by Mantoni to approve the thirty-five (35) requests for refunds, second by Kennedy and voted unanimously.

Agenda Item #6-Redeposit of Refunds and Makeup of Contributions
Motion made by Mantoni to approve the redeposit of refunds and makeup of contributions to: Rosemary Coughlin, Paraprofessional, School Department, for the refund from Springfield in 2007; Tasheena Davis, Paralegal, Law Department, for the refund from Springfield in 2013; Pamela Sergienko, Health Assistant, School Department, for the refund from Hampden County in 1990; Tasheena Davis, Paralegal at Law Dept, for12 months of non-member employment at Law Department, Law Clerk; Mary DeVivo, Inspectional Service Clerk at Buildings Department, for 7 months of non-member employment at the School Department, cafeteria worker; Lisa Lipshires, Librarian at Library Department, for 1 year 1 month of non-member employment at Springfield Library, as a part time Librarian, second by Kennedy and voted unanimously.

Agenda Item #7- Accidental Disability-Linda Marciniec/School Department
Motion by Scanlon to accept the responses of the medical panel, the evidence of the Disability Application and approve the accidental disability benefits for Crossing Guard, Linda Marciniec, second by Kennedy and voted unanimously.
Motion was also made by Kennedy to allow Executive Director, Susana Baltazar to accept a payment for a 30% third party recovery settlement, second by Mantoni and voted unanimously.

Agenda Item #8- Accidental Disability- Luis Astacio/DPW
Motion made by Scanlon to request clarification from the Department of Public Works on behalf of Luis Astacio, questioning the availability of a light duty position, second by Kennedy. Scanlon, yes, Burns, yes, Mantoni, abstained, Kennedy, yes, Moynihan, yes.

Agenda Item #9- Involuntary Accidental Disability-Brian Goggin/Fire Department
Motion made by Scanlon to table the Involuntary Accidental Disability application for Brian Goggin for 30 days, pending Mr. Goggin’s receipt of medical documents from a Specialist regarding permanency and a return to work status, second by Burns and voted unanimously.

Agenda Item #10- Accidental Disability-Matthew Cincotta/Fire Department
EXECUTIVE SESSION: Motion made by Kennedy and second by Scanlon to enter into Executive Session and then return to Open Session. Burns, yes, Mantoni, yes, Scanlon, yes, Kennedy, yes, Moynihan, yes.

Executive Session to discuss the medical panel reports for disability benefits.

Motion made by Scanlon to table the Accidental Disability application for Matthew Cincotta, pending receipt of additional information to be submitted to the medical panel for clarification, second by Kennedy and voted unanimously.

Agenda Item #11- Benefits under Section 101
Motion made by Kennedy to approve the survivor benefits for Margaret Winn, beneficiary of Frank Winn III of the Fire Department, second by Scanlon and voted unanimously.

Agenda Item #12-Director’s Report
Executive Director, Susana Baltazar, informed the Board that the PERAC disability approvals were received for Michael Guyer from the Fire Department, and David Franco from the Police Department.

Agenda Item #13-Attorney’s Report
Attorney Vivenzio requested a motion be made on behalf of J. Koetsch to allow Executive Director, Susana Baltazar to accept a payment for a 30% third party recovery settlement. Motion made by Kennedy, second by Scanlon and voted unanimously.

Agenda Item #14-Old Business
None

Agenda Item #15-New Business
Burns informed the Board that he would be attending an upcoming meeting with the Springfield City Council regarding the pension funding schedule.

F. Y. I. PERAC Memos: #16 Chapter 77 of the Acts of 2016, an Act Further Regulating Survivors’ Pension Benefits and Qualified Domestic Relations Orders, PERAC Newsflash and PERAC correspondence on Board Training, April PRIT Fund Update, Trial Balance, Adjusting Entries, Receipts, Disbursements and General Ledger for the month of April, Boston Millennia 1st Quarter reports, Crescendo Ventures 1st Quarter report, Treasurer’s Reconciliation for the month of April, Recent Retiree Deaths, Monthly Transfers for May.

Motion made by Kennedy to adjourn at 6:35 P.M. second by Scanlon and voted unanimously.

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Robert P. Moynihan, Chairman

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Thomas M. Scanlon, 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