January 11, 2023, Meeting Agenda

TO BE HELD ON JANUARY 11, 2023 AT 5:00 P.M.

Agenda Item #1-Nominations for Chairman and Vice-Chairman
Vote to consider the Chairman and Vice-Chairman.

Agenda Item #2-Cost of Living Percentage Increase–Local Option
Vote to consider a local option just signed into law on November 16, 2022 to increase the Cost of Living an additional 2% on the COLA base amount for fiscal year 2023. Tabled from the December 7, 2022 meeting.

Agenda Item #3-Minutes
Vote to consider approving the minutes of the meeting held on December 7, 2022.

Agenda Item #4-Accidental Disability Application-Stephanie Oglesby-School Department
Vote to consider the responses of the medical panel for Accidental Disability benefits submitted by Stephanie Oglesby.

Agenda Item #5-Superannuation Applications
Vote to consider the acceptance of the following Superannuation Applications:
1. Martin Kelleher, Jr. Maintenance Technician III, Water and Sewer Commission with 32 years and 7 months as of January 25, 2023.
2. Joseph Kruzel, Asset Maintenance Manager, Water and Sewer Commission with 36 years and 11 months as of March 25, 2023.
3. Gerard Moriarty, Junior Custodian, School Department with 36 years and 10 months as of
January 4, 2023.
4. John Quinn, Sealer of Weights and Measures, Building Department with 30 years and 4 months as of January 20, 2023.
5. Robert Stoops, Chief Engineer, Water and Sewer Commission with 20 years and 6 months as of
March 18, 2023.

Agenda Item #6-Superannuation Calculations
Vote to approve the four (4) 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 #68 Refunds in the amount of $99,327.91
Warrant #69 Transfers in the amount of $149,389.75
Warrant #70 Refunds in the amount of $197.52
Warrant #71 Expenses in the amount of $90,705.19
Warrant #72 Retirement payroll in the amount of $7,354,766.94
and redemption from the PRIT fund in the amount of $5,600,000.00
Warrant #73 Expenses in the amount of $2,156.09
Warrant #1 Expenses in the amount of $4,664.23
Warrant #2 Expenses in the amount of $1,586.88

Agenda Item #8-Redeposit of Refunds and Makeup of Contributions
Vote to consider the makeup of contributions according to statute:
1. Carla Daniele, Police Officer, Police Department, for five months of employment with the Police Department.

Agenda Item #9-Refunds/Transfers to Other Systems
Vote to consider the fifteen (15) 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-two (32) 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 financial reports for the month of November as presented to the Board.

Agenda Item #12-Director’s Report
• MGL Chapter 32 Section 91A – Excess Earnings/Termination
• PBI-Death Index/Overpayments

Agenda Item #13-Attorney’s Report

Agenda Item #14-Old Business

Agenda Item #15-New Business

Reports and Notices
 PERAC Memos
o #31 840 CMR 10:10(3) & 10:15(1)(C)-Annual Review of Medical Testing Fee
o #32 Tobacco Company List
o #33 Mandatory Retirement Board Training – 1st Quarter, 2023
o #34 Disability Data
o #1-2023 Reintroduction of Earning and Hour Limitations for All Retirees in the Public Sector
 PERAC-Appropriation Information for Fiscal Year 2024
 PERAC Pension News
 Crescendo Distribution Letter
 PRIT Fund Update-November
 Budget Balances as of December
 Monthly Transfers as of December
 Recent Retiree Deaths
 Monthly Cash Flow

Next Monthly Board Meeting: February 8, 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.