If you are unable to attend the Springfield Retirement Board Meeting in person, please notify the Springfield Retirement Office by 4:30 PM on Tuesday, February 1, 2022, by emailing sbaltazar@springfieldcityhall.com to receive a link to attend the meeting remotely.
MINUTES FOR THE SPRINGFIELD RETIREMENT BOARD MEETING
SPRINGFIELD DPW CONFERENCE ROOM
70 TAPLEY STREET, SPRINGFIELD, MA 01104
HELD ON FEBRUARY 2, 2022 AT 5:00 P.M.
Present: Robert Moynihan, Thomas Scanlon, Patrick Burns, Haskell Kennedy, Karl Schmaelzle, Attorney Alfredo ViVenzio, Executive Director, Susana Baltazar, Teresa D’Agostino, Recording Clerk, John Keefe, Lisa Casey, Scott Richard
Remote Participation: TJ Plante, Anthony Basile, Domenic Pellegrino
Chairman Moynihan called the meeting to order at 5:00 P.M.
Agenda Item #1-Pension Obligation Bonds
A presentation was given on Pension Obligation Bonds by TJ Plante, Chief Administrative and Financial Officer for the City of Springfield. TJ Plante presented an overview on the potential benefits and risk on the possible issuance of these bonds. Mr. Plante stated that a working group has been established and they will meet weekly and provide the Board with monthly updates.
Agenda Item #2-Minutes
Motion made by Scanlon to approve the minutes of the meeting held on January 12, 2022, second by Kennedy. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes.
Agenda Item #3-Accidental Disability-Scott Richard-Police Department
Motion made by Scanlon to accept the responses of the medical panel, the evidence of the Accidental Disability application and approve the disability benefits submitted for Scott Richard, second by Kennedy. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes.
Agenda Item #4-Accidental Disability-John Keefe-Fire Department
Motion made by Scanlon to accept the responses of the medical panel, the evidence of the Accidental Disability application and approve the disability benefits submitted for John Keefe, pending the correction of Mr. Keefe’s age on one of the physician’s narratives, second by Schmaelzle. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes.
Agenda Item #5-Superannuations
Motion made by Schmaelzle to approve the following Superannuations: Mark Ables, Junior Custodian, School Department with 11 years and 9 months as of 2/1/22; Mary Collamore, Paraprofessional, School Department with 27 years as of 12/7/21; James Collins, Police Officer, Police Department with 35 years and 5 months as of 1/22/22; Janet Denney, Director of Elder Affairs, Elder Affairs with 16 years and 7 months as of 2/10/22; Edward Garcia, Fire Lieutenant, Fire Department with 34 years and 4 months as of 2/5/22; William Gonzalez, Working Foreman, Park Department with 36 years and 4 months as of 2/5/22; Joanne McNally, Library Senior Clerk, Library Department with 15 years and 4 months as of 3/1/22, second by Kennedy. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes.
Agenda Item #6-Warrants
Motion made by Kennedy to approve and reaffirm the approval of the following warrants: Warrant #2 Transfers in the amount of $113,293.00, Warrant #3 Refunds in the amount of $114,930.61, Warrant #4 Expenses in the amount of $85,038.89, Warrant #5 Retirement payroll in the amount of $7,143,768.72 and redemption from the PRIT fund in the amount of $6,150,000.00, Warrant #6 Expenses in the amount of $68.49, second by Schmaelzle. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes.
Agenda Item #7-Refunds/Transfers to Other Systems
Motion made by Scanlon to accept the seven (7) 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 Schmaelzle. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes.
Agenda Item #8-Calendar for Retirement Board Member Election
Motion made by Scanlon to conduct the election by mail, second by Schmaelzle. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes. Motion made by Scanlon to designate Teresa D’Agostino as Election Officer, second by Kennedy. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes. Motion made by Scanlon to have the Election ballots counted on July 26, 2022, second by Kennedy. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes.
Agenda Item #9-Director’s Report
Executive Director Baltazar updated the Board on the outstanding Benefit Verification Forms and stated that benefits will continue to be held until the required forms are received. Ms. Baltazar gave an update on the PRIM performance and also informed the Board that the NCPERS Conference will be held from May 21, 2022 through May 25, 2022 if anyone is able to attend. Executive Director Baltazar informed the Board that notices for the yearly COLA have been sent out to the Mayor, City Council, as well as the Springfield Housing Authority, and the Water and Sewer Commission, informing them that a request to grant up to a 3% COLA increase to the retirees and survivors would be on the agenda for the next scheduled Board Meeting on March 2, 2022. The office hours were discussed and a motion was made by Scanlon to change the office hours from
8:00 am - 4:30 pm to 8:00 am - 4:00 pm, second by Kennedy. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes. Motion was also made by Burns to update the Springfield Retirement System’s website, as agreed upon with the existing website provider, at the discretion of the Executive
Director, second by Kennedy. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes.
Agenda Item #10-Attorney’s Report
Attorney Vivenzio stated that he has a few cases pending and will update the Board accordingly.
Agenda Item #11-Old Business
None
Agenda Item #12-New Business
None
F. Y. I. PERAC Memos, #2-2022 Limits under Chapter 46 of the Acts of 2002, #3-2022 Limits under Section 23 of Chapter 131 of the Acts of 2010, #4- COLA Notice, #4a- Clarification of Previous COLA Notice Memo, #5-2022 Interest Rate set at 0.1%, #6-Mandatory Retirement Board Member Training–1st Quarter 2022, #7- Buyback and Make-up Repayment Worksheets, #8-Actuarial Data, PERAC Correspondence-Actuarial Data Information, PERAC-OPEB Summary Report, December PRIT Fund Update, Pre-closing Trial Balance, Adjusting Entries, Receipts, Disbursements and General Ledger for the month of December, Treasurer’s Reconciliation for the month of November, Budget Balances as of January, Monthly Transfers for January, Recent Retiree Deaths, Monthly Cash Flow.
Motion made by Scanlon to adjourn at 5:47 P.M. second by Kennedy. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes.
__________________________________________
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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Karl J. Schmaelzle, 5th Member