October 9, 2019 Meeting Minutes

MINUTES FOR THE SPRINGFIELD RETIREMENT BOARD MEETING
70 TAPLEY STREET, SPRINGFIELD, MA 01104
HELD ON OCTOBER 9, 2019 AT 4:00 P.M.

Present: Thomas Scanlon, Robert Moynihan, Patrick Burns, Philip Mantoni, Haskell Kennedy, Attorney Alfredo ViVenzio, Executive Director, Susana Baltazar, Judy Dziobek, Recording Clerk, Michael Nelligan, Todd Jurczyk, Francesco Daniele, City Councilor Tim Allen, Anthony Basile, Domenic Pellegrino, Denise Jordan, Nicole Contois, JoAnn White, Gerald Larose, Attorney Earlon Seeley III, Brian Tobin

Agenda Item #1-Michael Nelligan from Powers and Sullivan (City outside Auditors)
Michael Nelligan and Todd Jurczyk were present to give an overview of the audit report completed for the Springfield Retirement System. This report included an overview and analysis of the financial statements for the year ending December 31, 2018 which complies with financial reporting requirements issued by the Governmental Accounting Standards Board (GASB). This report details information that is required to determine the employer allocations for the Springfield Water and Sewer Commission, the Springfield Housing Authority and the City of Springfield. It is the opinion of Powers and Sullivan that the financial records submitted were found to be in accordance with accounting principles generally accepted in the United States of America.

Agenda Item #2-Manager Performance Review & Discussion – PRIM
Francesco Daniele from PRIM was present to discuss investment performance, PRIM’s asset allocation and to provide to the Board any updates on the firm. Mr. Daniele provided the Board with a Performance Review Information booklet which showed a detailed summary of PRIT performance annualized returns as of June 30, 2019. The Board asked questions of Mr. Daniele and thanked him for his presentation.

Agenda Item #3-Minutes
Motion made by Mantoni to approve the minutes of the meeting held on September 11, 2019, second by Kennedy and voted unanimously.

Agenda Item #4-Accidental Disability Application-Gerald Larose-Code Enforcement
Motion made by Moynihan to accept the responses of the medical panel, the evidence of the Accidental Disability Application and approve the disability benefits for Gerald Larose, second by Kennedy and voted unanimously. Motion made by Moynihan to accept payment of $12,500.00 based on a third party recovery settlement received by Mr. Larose, second by Kennedy and voted unanimously.

Agenda Item #5-Involuntary Accidental Disability and Ordinary Disability Applications-Brian Tobin-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 Kennedy and voted unanimously. Motion made by Moynihan to accept the application for Ordinary Disability benefits submitted by Commissioner Bernard Calvi, and request that PERAC convene a medical panel, second by Kennedy and voted unanimously.

Agenda Item #6-Superannuations
Motion made by Moynihan to accept the following Superannuations: Nelida Candelario, Case Manager, Department of Health and Human Services with 11 years as of 9/30/19; Donna Carney, Call Center Director, 311 Call Center with 11 years and 4 months as of 11/2/19; Cynthia Coughlin, Senior Program Coordinator, Department of Elder Affairs with 25 years and 4 months as of 9/30/19; Edward Jackson, Jr.,
Foreman II, Water & Sewer Commission with 27 years and 9 months as of 10/17/19; Eileen Laraway, Paraprofessional, School Department with 18 years and 10 months as of 9/28/19; Jeffrey Laux, Firefighter, Fire Department with 30 years and 5 months as of 9/30/19; Wanda Sanchez, Paraprofessional, School Department with 20 years and 2 months as of 9/21/19; Patricia Spradley, Chief of Parent and Community Engagement, School Department with 25 years and 4 months as of 12/28/19; Nancy Sullivan, Crossing Guard, School Department with 33 years and 6 months as of 10/11/19; Carmen Velazquez, Paraprofessional, School Department with 23 years and 6 months as of 9/18/19, second by Burns and voted unanimously.

Agenda Item #7-Warrants
Motion made by Burns to approve and reaffirm the following warrants: Warrant #46 Transfers in the amount of $64,163.36, Warrant #47 Refunds in the amount of $55,638.44, Warrant #48 Refunds in the amount of $136,400.02, Warrant #49 Expenses in the amount of $55,880.00, Warrant #50 Retiree payroll in the amount of $6,710,443.34 and redemption from the PRIT fund in the amount of $5,530,000.00,
Warrant #51 Expenses in the amount of $410,162.06, second by Kennedy and voted unanimously.

Agenda Item #8-Refunds/Transfers to Other Systems
Motion made by Burns to approve the twelve (12) 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 Mantoni and voted unanimously.

Agenda Item #9-Redeposit of Refunds and Makeup of Contributions
Motion made by Moynihan to approve the redeposit of refunds to: Elena Acevedo, Paraprofessional, School Department, for the refund from the Springfield Retirement System in 2019; Gabriela Chacon, Paraprofessional, School Department, for the refund from the Springfield Retirement System in 2016;
Selenia Cruz, Police Officer, Police Department, for the refund from the Springfield Retirement System in 2004; Brian Lawson, Paraprofessional, School Department, for the refund from the Springfield Retirement System in 2012; Israel Lopez Jr., Paraprofessional, School Department, for the refund from the Springfield Retirement System in 2019; Christopher Medina, Paraprofessional, School Department, for the refund from the Springfield Retirement System in 2018; Kiara Owens, Paraprofessional, School Department, for the refund from the Springfield Retirement System in 2013; Kathleen Ramos-Delgado, Paraprofessional, School Department, for the refund from the Springfield Retirement System in 2019; Luis A. Serrano Jr., Paraprofessional, School Department, for the refund from the Springfield Retirement System in 2019, second by Burns and voted unanimously.

Agenda Item #10-Director’s Report
Executive Director Baltazar informed the Board that she has received a letter from PERAC stating they have completed their review process for submitting Superannuation Retirement calculations for approval and stated that the Board will continue to be granted this waiver. Ms. Baltazar also informed the Board of legislation that is being considered to increase membership on the PRIM Board. Motion made by Mantoni to sign a letter to be sent showing the Board’s support of an act to increase membership on the PRIM Board, second by Kennedy and voted unanimously.

The Executive Director presented a policy in draft form to be adopted by the Retirement Board. This policy would be applicable to all departments within the City of Springfield and related agencies, pursuant to M.G.L. c. 32, Section 20(5) General Powers and Duties of Boards. - (a) The board of any system established under the provisions of sections one to twenty-eight inclusive, or under corresponding provisions of earlier laws, shall meet at least once in each month for the transaction of such business as may properly come before it. It shall keep a record of all of its proceedings. (b) Any such board may adopt by-laws and make rules and regulations consistent with law, which shall be subject to approval as provided for in subdivision (4) of section twenty-one. It shall provide for the payment of retirement allowances and other benefits and for all other necessary expenditures under the applicable provisions of sections one to twenty-eight inclusive, or under corresponding provisions of earlier laws or of any special law, and shall have such other powers and shall perform such other duties and functions as are necessary to comply with such provisions. The head of any department upon request from the board shall promptly furnish it with such information as shall be required to effectuate the provisions of sections one to twenty-eight inclusive. Any such board shall have the power to take evidence, subpoena witnesses, administer oaths and examine such parts of the books and records of the parties to a proceeding as relate to questions in dispute. Fees for such witnesses shall be the same as for witnesses before the courts in civil actions, and shall be paid from the expense fund of such system. Motion made by Mantoni to adopt the following policy, second by Moynihan and voted unanimously: REPORTING POLICY RESULTING FROM THIRD PARTY CLAIMS-The policy would begin immediately and apply to all departments within the City of Springfield and related agencies to furnish the Springfield Retirement Office with notice of any and all injury reports for all claims as follows: 1-Worker’s Compensation resulting from third party claims; 2-Motor vehicle accidents resulting from third party claims; 3-Slip and falls resulting from third party claims; and 4-All other injury claims caused by anyone other than City of Springfield/Springfield Agency personnel. The injury/claim reports shall be filed upon report of the injury or as soon as possible thereafter.

Agenda Item #11-Attorney’s Report
Attorney Vivenzio informed the Board that the two upcoming DALA Hearings will be held for Michael Basile and Christian Bach. Attorney Vivenzio will update the Board accordingly.

Agenda Item #12-Old Business
None

Agenda Item #13-New Business
None

F. Y. I. PERAC Memos, #22-Tobacco Company List, #23-Mandatory Retirement Board Member Training-4th Quarter 2019, August PRIT Fund Update, Trial Balance, Adjusting Entries, Receipts, Disbursements and General Ledger for the month of August, Budget Balances as of September, Monthly Transfers for September, 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 Moynihan to adjourn at 5:47 P.M. second by Kennedy and voted unanimously.

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Thomas M. Scanlon, Chairman

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Robert P. Moynihan, Elected Member

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Haskell Kennedy, Appointed Member

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Patrick S. Burns, Appointed Member

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Philip J. Mantoni, 5th Member