AGENDA FOR THE SPRINGFIELD RETIREMENT BOARD MEETING
70 TAPLEY STREET, SPRINGFIELD, MA 01104
TO BE HELD ON SEPTEMBER 4, 2024 AT 5:00 P.M.
Agenda Item #1-Minutes
Vote to consider approving the minutes of the meeting held on August 14, 2024.
Agenda Item #2- Involuntary Accidental Disability Application-Ahmad Sharif-Police Department
Vote to consider the acceptance of the Involuntary Accidental Disability application submitted by Police Superintendent Lawrence Akers, and request that PERAC convene a medical panel.
Agenda Item #3-Accidental Disability Application-Jorge Vega-Water and Sewer Commission
Vote to consider the responses of the medical panel for Accidental Disability benefits submitted by Jorge Vega.
Agenda Item #4-Superannuation Applications
Vote to consider the acceptance of the following Superannuation Applications:
1. Bill Harris, Senior Custodian, School Department with 37 years and 5 months as of October 14, 2024.
2. Reginald Springer, Para Educator, School Department with 13 years and 3 months as of August 23, 2024.
3. David Wellspeak, Firefighter, Fire Department with 29 years and 2 months as of September 12, 2024.
Agenda Item #5-Superannuation Calculations
Vote to approve the seven (7) retirement allowance calculations as presented to the Board according to statute.
Agenda Item #6-Redeposit of Refunds and Makeup of Contributions
Vote to consider the makeup of contributions according to statute:
1. Lawrence Murphy, Police Captain, Police Department, for three months of employment with the Park Department.
Agenda Item #7-Warrants
Vote to reaffirm the approval of the following warrants:
Warrant #52 Refunds in the amount of $161,045.54
Warrant #53 Refunds in the amount of $74,231.36
Warrant #54 Transfers in the amount of $194,495.32
Warrant #55 Death Refunds in the amount of $29,390.88
Warrant #56 Expenses in the amount of $465.59
Warrant #57 Expenses in the amount of $918,066.48
Warrant #58 Retirement payroll in the amount of $8,047,309.06
and redemption from the PRIT fund in the amount of $5,000,000.00
Agenda Item #8-Refunds/Transfers to Other Systems
Vote to consider the seven (7) 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 #9-New Members
Vote to consider the eight (8) New Members for membership due to their employment within the member units of the Springfield Retirement System as presented to the Board.
Agenda Item #10-Monthly Financial Reports
Vote to accept the monthly financial reports for the month of July as presented to the Board.
Agenda Item #11-Update on Banking Services-IntraFi Service
Vote to consider deposit placement through IntraFi Services.
Agenda Item #12-Director’s Report
Gregory M. Caputo, Jr.-Restoration to Service
Death Verification Services
MGL Chapter 32 Section 91A-Compliance of 91A Reporting and 91A Terminations
MGL Chapter 32 Section 91A-Excess Earnings
Update of 2024 Affidavits – Benefit Verification Forms
Update on PERAC Memo #23-Veterans’ Buyback Changes
Agenda Item #13-Attorney’s Report
Meetings-Discussion of Repayment of Overpayments
Agenda Item #14-Old Business
Agenda Item #15-New Business
Reports and Notices
PERAC Memos
o #21 New Anti-Spiking Exemptions
o #22 New Standard for Calculating Public Sector Post-Retirement Work Limitations
o #23 Veterans’ Buyback Changes
PERAC Correspondence-Approval of Funding Schedule
PERAC Correspondence-GASB 67/68 Information
July PRIT Fund Update
Treasurer’s Reconciliation for the month of June
Budget Balances as of August
Monthly Transfers as of August
Recent Retiree Deaths
List of Injury Reports
Monthly Cash Flow
Next Monthly Board Meeting: October 2, 2024 @ 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.