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, January 11, 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 JANUARY 12, 2022 AT 5:00 P.M.
Present: Thomas Scanlon, Robert Moynihan, Patrick Burns, Karl Schmaelzle, Attorney Alfredo ViVenzio, Executive Director, Susana Baltazar, Teresa D’Agostino, Recording Clerk, Matthew McElhiney, Marcus Earley, Attorney Charles Casartello
Tardy: Haskell Kennedy 5:12 P.M.
Remote Participation: Haskell Kennedy gave notice that he would not be able to participate in person at the January 12, 2022 meeting. Member Kennedy participated remotely.
Due to remote participation all votes taken were by Roll Call.
Chairman Scanlon called the meeting to order at 5:01 P.M.
Agenda Item #1-Nominations for Chairman and Vice-Chairman
Motion made by Scanlon to appoint Robert Moynihan as Chairman for the Board, second by Schmaelzle. Moynihan, abstain, Burns, yes, Kennedy, not present, Schmaelzle, yes, Scanlon, yes.
Moynihan made a motion to appoint Thomas Scanlon as Vice-Chairman for one year, second by Schmaelzle.
Moynihan, yes, Burns, yes, Kennedy, not present, Schmaelzle, yes, Scanlon, abstain.
Agenda Item #2-Minutes
Motion made by Moynihan to approve the open session and executive session minutes of the meeting held on December 1, 2021, second by Burns. Moynihan, yes, Burns, yes, Kennedy, not present, Schmaelzle, yes, Scanlon, yes.
Agenda Item #3-Involuntary Accidental Disability Application-Matthew McElhiney-Fire Department
Motion made by Moynihan to accept the application for Accidental Disability benefits submitted by Commissioner Bernard Calvi, and request that PERAC convene a medical panel, second by Schmaelzle . Moynihan, yes, Burns, yes, Kennedy, not present, Schmaelzle, yes, Scanlon, yes.
Agenda Item #4-Accidental Disability Application-Marcus Earley-DPW-Solid Waste
Motion made by Moynihan to accept the responses of the medical panel, the evidence of the Accidental Disability application and approve the disability benefits submitted by Marcus Earley, second by Schmaelzle. Moynihan, yes, Burns, yes, Kennedy, not present, Schmaelzle, yes, Scanlon, yes.
Agenda Item #5-Superannuations
Motion made by Moynihan to approve the following Superannuations: Michael Borecki, Custodian, School Department with 13 years as of 1/6/22; Donald Brown, Police Officer, Police Department with 33 years and 7 months as of 2/25/22; Frank Cordi, Crossing Guard, School Department with 10 years and 2 months as of 12/4/21; Rene Jenkins, Assessor Analyst, Assessors Department with 34 years and 9 months as of 1/15/22; Janet Kelly, Adult Literacy Manager, Library Department with 33 years as of 12/31/21; Michael Maroney,
Senior Custodian, School Department with 41 years and 9 months as of 1/8/22, second by Burns. Moynihan, yes, Burns, yes, Kennedy, not present, Schmaelzle, yes, Scanlon, yes.
Agenda Item #6-Warrants
Motion made by Burns to approve and reaffirm the approval of the following warrants: Warrant #70 Refunds in the amount of $143,325.69, Warrant #71 Refunds in the amount of $20,676.38, Warrant #72 Refunds in the amount of $111,142.87, Warrant #73 Refunds in the amount of $276,915.61. Warrant #74 Expenses in the amount of $68,192.07, Warrant #75 Refunds in the amount of $820.74, Warrant #76 Expenses in the amount of $3,699.62, Warrant #77 Retirement payroll in the amount of $7,133,066.78, and redemption from the PRIT fund in the amount of $5,000,000.00, Warrant #78 Expenses in the amount of $1,152.27, Warrant #1-2022 Expenses in the amount of $2,853.84, second by Moynihan. Moynihan, yes, Burns, yes, Kennedy, not present, Schmaelzle, yes, Scanlon, yes.
Agenda Item #7-Refunds/Transfers to Other Systems
Motion made by Moynihan to approve the twenty-three (23) 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 Burns. Moynihan, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Scanlon, yes.
Agenda Item #8-Director’s Report
Executive Director Baltazar updated the Board on the outstanding Affidavits and stated that benefits will continue to be held until the required Benefit Verification Forms are received. Ms. Baltazar informed the Board that the office is working on the year end procedures and preparing the 1099R’s, the member’s annual statements, as well as the inactive member statements. She also gave an update on the PRIM performance and updated the Board on their website.
Agenda Item #9-Attorney’s Report
Attorney Vivenzio stated that he has a few cases pending and will update the Board accordingly.
Agenda Item #10-Old Business
None
Agenda Item #11-New Business
Member Burns informed the Board that the City of Springfield is exploring the option of issuing Pension Obligation Bonds to fund the System’s Unfunded Actuarial Liability. The City’s Chief Administrative and Financial Officer, TJ Plante, will be invited to present information on the issuance of these bonds at the next Board Meeting.
F. Y. I. PERAC Memos #1-Fraud Attempt, November PRIT Fund Update, PRIM-FY 2021 Annual Comprehensive Financial Report, Trial Balance, Adjusting Entries, Receipts, Disbursements and General Ledger for the month of November, Treasurer’s Reconciliation for the month of October, Budget Balances as of December, Monthly Transfers for December, Recent Retiree Deaths, Monthly Cash Flow
The correspondence and reports were received and reviewed by the Board Members and the Executive Director.
Motion made by Kennedy to adjourn at 5:33 P.M. second by Burns. Moynihan, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Scanlon, yes.
__________________________________________
Thomas M. Scanlon, Chairman
___________________________________________
Robert P. Moynihan, Elected Member
___________________________________________
Haskell Kennedy, Appointed Member
___________________________________________
Patrick S. Burns, Appointed Member
___________________________________________
Karl J. Schmaelzle, 5th Member