February 15, 2023, Meeting Agenda

TO BE HELD ON FEBRUARY 15, 2023 AT 5:00 P.M.

Agenda Item #1-Minutes
Vote to consider approving the minutes of the meeting held on January 11, 2023.

Agenda Item #2- Involuntary Accidental Disability- Timothy Shink -Springfield Police Department
Vote to consider the acceptance of the Involuntary Accidental Disability application for Timothy Shink submitted by Police Superintendent Cheryl Clapprood.

Agenda Item #3-Involuntary Accidental Disability/Ordinary Disability Application-Scott Campion-Fire Department
Vote to consider the acceptance of the application for Accidental Disability/Ordinary Disability benefits submitted by Commissioner Bernard Calvi, and request that PERAC convene a medical panel.

Agenda Item #4-MGL Chapter 32 Section 91A Hearing-Excess Earnings-Frank Arduino-Police Department
Hearing to discuss excess earnings under MGL Chapter 32, Section 91A as requested by Frank Arduino.

Agenda Item #5-Superannuation Applications
Vote to consider the acceptance of the following Superannuation Applications:
1. William Cullinan, City Solicitor 1st Associate, Law Department with 17 years and 9 months as of
March 17, 2023.
2. Philip McBride III, Police Sergeant, Police Department with 31 years and 6 months as of
April 1, 2023.
3. Darrin Padilla, Arson, Fire Department with 31 years and 9 months as of April 6, 2023.
4. Clotilde Torres, Paraprofessional, School Department with 21 years and 4 months as of
February 3, 2023.

Agenda Item #6-Superannuation Calculations
Vote to approve the fourteen (14) retirement allowance calculations as presented to the Board according to statute.

Agenda Item #7-Warrants
Vote to reaffirm the approval of the following warrants:
Warrant #3 Expenses in the amount of $125,967.96
Warrant #4 Retirement payroll in the amount of $7,371,933.13
and redemption from the PRIT fund in the amount of $6,700,000.00
Warrant #5 Refunds in the amount of $141,615.12
Warrant #6 Refunds in the amount of $66,658.60
Warrant #7 Transfers in the amount of $164,305.86

Agenda Item #8-Redeposit of Refunds and Makeup of Contributions
Vote to consider the makeup of contributions according to statute:
1. Alesia H. Days, Deputy City Solicitor, Law Department, for the refund from the Springfield Retirement System in 2008.

Agenda Item #9-Refunds/Transfers to Other Systems
Vote to consider the thirty-eight (38) requests for refunds and transfers to other systems as presented to the Board. The names have been submitted to their particular Department, the Law Department and the Massachusetts Department of Revenue.

Agenda Item #10-New Members
Vote to consider thirty-eight (38) New Members for membership due to their employment within the member units of the Springfield Retirement System as presented to the Board.

Agenda Item #11-Monthly Financial Reports
Vote to approve the monthly pre-closing financial reports for the month of December as presented to the Board.

Agenda Item #12-Benefits under Section 9
Vote to consider survivor benefits to the beneficiary of William R. Yelinek of the Fire Department-Deceased.

Agenda Item #13-Update on Cost of Living Percentage Increase–Local Option
Update on the Cost-of-Living Percentage Increase.

Agenda Item #14-Calendar for Retirement Board Member Election
Vote to adopt the election calendar, process, and designate the election officer.

Agenda Item #15-Director’s Report
• Update on Retirement Software Information
• 2023 Affidavits - Benefit Verification Forms

Agenda Item #16-Attorney’s Report
• Legal Update
• Executive Session – Litigation

Agenda Item #17-Old Business

Agenda Item #18-New Business

Reports and Notices
 PERAC Memos
o #2 2023 Limits under Chapter 46 of the Acts of 2002
o #3 2023 Limits under Section 23 of Chapter 131 of the Acts of 2010
o #4 COLA Notice
o #5 PROSPER Cash Books and Annual Statement Submission
o #6 Buyback and Make-up Repayment Worksheets
o #7 2023 Interest Rate set at 0.1%
o #8 Actuarial Data
 Boston Millennia Quarterly Report
 Crescendo Ventures Quarterly Report
 PRIT Fund Update-December
 Budget Balances as of January
 Monthly Transfers as of January
 Recent Retiree Deaths
 List of Injury Reports
 Monthly Cash Flow

Next Monthly Board Meeting: March 1, 2023 @ 5:00 P.M.

The Board reserves the right to consider items on the agenda out of order. In addition, the Board may enter into Executive Session during the meeting if requested by the individual or as deemed necessary by the Board or its Legal Counsel. Items listed for discussion in Executive Session may be conducted in open session in addition to or in lieu of discussion in Executive Session