MINUTES FOR THE SPRINGFIELD RETIREMENT BOARD MEETING
70 TAPLEY STREET, SPRINGFIELD, MA 01104
HELD ON NOVEMBER 14, 2018 AT 4:30 P.M.
Present: Robert Moynihan, Patrick Burns, Thomas Scanlon, Philip Mantoni, Haskell Kennedy, Attorney Alfredo ViVenzio, Attorney Christine Pikula, Executive Director, Susana Baltazar, Judy Dziobek, Recording Clerk, Michael Nelligan, Paul Todisco, Brian Phillips, Fire Commissioner Bernard Calvi, Marilyn Kane, Todd Kane
Agenda Item #1-Michael Nelligan from Powers and Sullivan (City outside Auditors)
Michael Nelligan was present to give an overview of the audit report completed of the Springfield Retirement System for the year ending December 31, 2017. This report includes GASB information required to determine the employer allocations for the Springfield Water & Sewer Commission, the Springfield Housing Authority and the City of Springfield. 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 #2-Manager Performance Review & Discussion – PRIM
Paul Todisco from PRIM was present to discuss investment performance, PRIM’s asset allocation, and provide any updates on the firm. Mr. Todisco provided the Board with a Performance Review Information booklet dated November 14, 2018, and gave an overview on the market. He reviewed how the asset allocation that is in place at PRIM should provide their target returns, depending on the volatility of the market. The Board asked questions of Mr. Todisco and thanked him for his presentation.
Agenda Item #3-Minutes
Motion made by Mantoni to approve the minutes of the meeting held on October 3, 2018, second by Scanlon and voted unanimously.
Agenda Item #4-Benefits under Section 9
Motion made by Scanlon to grant Section 9 benefits to the beneficiary of Harold Kane of the Fire Department-Deceased, second by Mantoni and voted unanimously.
Agenda Item #5-Involuntary Accidental/Ordinary Disability Application-Brian Phillips-Fire Department
Motion made by Scanlon to accept the application for Accidental Disability benefits submitted by Fire Commissioner Bernard Calvi, and request that PERAC convene a medical panel, second by Mantoni and voted unanimously.
Motion made by Mantoni to accept the application for Ordinary Disability benefits submitted by Fire Commissioner Bernard Calvi, and request that PERAC convene a medical panel, second by Kennedy and voted unanimously.
Agenda Item #6-Superannuations
Motion made by Mantoni to approve the following Superannuations: Suzanne Andersen, Administrative Assistant for the Department of Information and Technology with 29 years as of 1/5/19; Charles Blake, Foreman, Park Department with 27 years as of 11/2/18; Maria Lafreniere, Administrative Assistant for the Springfield School Department with 27 years and 2 months as of 12/29/18; Cecile Martin, Senior Network Analyst for the Department of Information and Technology with 10 years and 4 months as of 1/5/19; Moraima Mendoza, Senior Center Director, Department of Elder Affairs with 10 years and 1 month as of 11/2/18, second by Kennedy and voted unanimously.
Agenda Item #7-Warrants
Motion made by Burns to approve and reaffirm the approval of the following warrants: Warrant #46 Transfers in the amount of $73,320.93, Warrant #47 Refunds in the amount of $22,928.23, Warrant #48 Refunds in the amount of $246,629.07, Warrant #49 Refunds in the amount of $8,689.89, Warrant #50 Expenses in the amount of $81,901.73, Warrant #51A Expenses in the amount of $4,847.04, Warrant #51 Retiree payroll in the amount of $6,505,140.16 and redemption from the PRIT fund in the amount of $3,475,000.00, second by Scanlon and voted unanimously.
Agenda Item #8-Refunds/Transfers to Other Systems
Motion made by Mantoni to accept the (18) requests for refunds and transfers to other systems. The names have been submitted to their particular Department, the Law Department and the Massachusetts Department of Revenue, second by Kennedy and voted unanimously.
Agenda Item #9-Redeposit of Refunds and Makeup of Contributions
Motion made by Kennedy to allow the makeup of contributions to: Chantal Keating, Vital Records Clerk, Clerk’s Department for 1 year 5 months of employment at the Water Department as a Seasonal Clerk Typist, second by Scanlon and voted unanimously.
Motion made by Kennedy to allow the redeposit of a refund to: Jesus Martinez, Paraprofessional, School Department for the refund from Springfield in 2014 which includes Holyoke service, second by Scanlon and voted unanimously.
Agenda Item #10-Meeting dates for Calendar Year 2019
Motion made by Kennedy to approve the meeting dates for 2019, second by Scanlon and voted unanimously.
Agenda Item #11-Director’s Report
After an update from Executive Director Baltazar on the status of two outstanding compliance requests for 91A terminations, a motion was made by Burns to grant an extension until December 5, 2018, the next Board meeting, for the required items to be submitted to PERAC, second by Kennedy and voted unanimously. Ms. Baltazar also informed the Board that V. Van Johnson is now in compliance and that
the required information was sent to PERAC. Director Baltazar also informed the board that the following retirees requested to have their Excess Earnings under M.G.L. Chapter 32, Section 91A,
deducted from their retirement allowance: Ronald Cooper, Stephen Hill, Timothy Leclair and James Kervick. Motion was made by Burns to allow up to a maximum of eight months to repay the amount owed, second by Kennedy and voted unanimously.
Executive Director Baltazar informed the Board that the PERAC approvals for disabilities were received for John Feudo-Water & Sewer Commission, William Mallett-Facilities, Raymond Wyszynski-Police Department, Susan McCue-School Department, Eric Walker-School Department, and for Section 101 survivor benefits to the beneficiary of Harold Kane-Fire Department.
Agenda Item #12-Attorney’s Report
Attorney Vivenzio stated that he has a few cases pending and will update the Board accordingly.
Agenda Item #13-Old Business
Agenda Item #14-New Business
F. Y. I.
PERAC Memos: #30-Appropriation Data Due October 31, 2018, #31-Disclosure of Compensation, #32-Procurement, September PRIT Fund Update, Boston Millennia Partners-Distribution Information, Trial Balance, Adjusting Entries, Receipts, Disbursements and General Ledger for the month of September, Treasurer’s Reconciliation for the months of July and August, Monthly Transfers for October, Recent Retiree Deaths
The correspondence and reports were received and reviewed by the Board Members and Executive Director.
Motion made by Kennedy to adjourn at 6:35 P.M. second by Scanlon and voted unanimously.
Robert P. Moynihan, Chairman
Thomas M. Scanlon, Elected Member
Haskell Kennedy, Appointed Member
Patrick S. Burns, Appointed Member
Philip J. Mantoni, 5th Member