September 7, 2022, Meeting Minutes

MINUTES FOR THE SPRINGFIELD RETIREMENT BOARD MEETING
70 TAPLEY STREET, SPRINGFIELD, MA 01104
HELD ON SEPTEMBER 7, 2022 AT 5:00 P.M.

Present: Robert Moynihan, Thomas Scanlon, Haskell Kennedy, Patrick Burns, Karl Schmaelzle, Attorney Alfredo ViVenzio, Executive Director, Susana Baltazar, Teresa D’Agostino, Recording Clerk, Roberto Matos, Attorney Kevin Coyle, Tiyra Johnson, Richard Jarvis, Gregory Caputo

Chairman Moynihan called the meeting to order at 5:00 P.M.

Agenda Item #1-Minutes
Motion made by Kennedy to approve the minutes of the meeting held on August 3, 2022, second by Scanlon. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes.

Agenda Item #2-COLA Base Increase and Cost of Living Percentage Increase
Motion made by Scanlon to approve an increase to the COLA base from $13,000.00 to $14,000.00 and to table a cost-of-living percentage increase until a future board meeting, second by Schmaelzle. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes.

Agenda Item #3-Involuntary Accidental Disability Application-Tiyra Johnson-Police Department
Motion made by Scanlon to accept the responses of the medical panel, the evidence of the Involuntary Accidental Disability application and approve the disability benefits submitted by Police Superintendent Cheryl Clapprood, second by Kennedy. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes. Tiyra Johnson also confirmed that a third-party claim was not filed.

Agenda Item #4-Involuntary Superannuation Retirement Application-Roberto Matos-Police Department
Motion made by Schmaelzle to table the application for Superannuation Retirement benefits submitted by Police Superintendent Cheryl Clapprood to the October 5, 2022 meeting to give an opportunity to receive more information, second by Kennedy. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes.

Agenda Item #5-Superannuations
Motion made by Scanlon to approve the following Superannuations: Angel Berrios Jr., Police Officer, Police Department with 24 years and 7 months as of August 19, 2022; Michael Freeman, Oil Burner Technician, School Department with 14 years and 10 months as of October 3, 2022; Jerona Rodgers, LPN, School Department with 29 years and 4 months as of August 3, 2022; Jane Sheehan, Crossing Guard, School Department with 21 years and 11 months as of August 31, 2022, second by Kennedy. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes.

Agenda Item #6 -Warrants
Motion made by Burns to approve and reaffirm the approval of the following warrants: Warrant #45 Refunds in the amount of $181,897.82, Warrant #46 Transfers in the amount of $295,717.76, Warrant #47 Expenses in the amount of $73,799.93, Warrant #48 Refunds in the amount of $111,942.28, Warrant #49 Retirement payroll in the amount of $7,409,257.99 and redemption from the PRIT fund in the amount of $5,700,000.00, second by Kennedy. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes.

Agenda Item #7-Refunds/Transfers to Other Systems
Motion made by Burns to accept the twenty-one (21) 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 Scanlon. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes.

Agenda Item #8-Director’s Report
Executive Director Baltazar informed the Board that we have six disability retirees that had excess earnings in 2021. Letters were sent out notifying these retirees by regular mail and certified mail for the amount due. Executive Director Baltazar presented to the Board different scenarios on the reorganization and business continuity plan of the office, as well as an overview of the positions. She also proposed a merit increase to Wai Si Shing effective September 12, 2022, and presented the 2023 Administrative Budget, which includes a merit increase to Cynthia Moran, effective January 1, 2023. After review, a motion was made by Burns to also include a 1% cost of living increase, approve the merit increases for Ms. Shing and Ms. Moran, and adopt the calendar year 2023 budget as proposed, in the amount of $3,850,655.22, second by Kennedy. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes. Ms. Baltazar also reviewed the 2021 calendar year investment performance. Ms. Baltazar informed the Board that the MACRS Conference will be held again in Springfield from October 3, 2022 through October 5, 2022 for those who can attend, and updated the Board on the PRIT year to date performance. Ms. Baltazar also reminded the Board of PERAC’s Emerging Issues Forum on September 15, 2022.

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
Gregory Caputo and Richard Jarvis came to the meeting and asked the Chairman if they could address the Board. Mr. Caputo and Mr. Jarvis presented their concerns regarding post retirement earnings for disability retirees. They asked if the earnings cap could be revisited. The Board members recognize their concerns and will be contacting the Mass Retirees Association and MACRS. The Chairman and Board members thanked them for coming.

Section 34 of Chapter 176 of the Acts of 2011 contains a local option to increase Board Members’ stipends to receive a yearly stipend of $4,500.00 instead of $3,000.00. This section has been in effect since 2011. After discussion, a motion was made by Scanlon to present this local option, at this time, to the legislative body and to increase the stipend for Retirement Board members to $4,500.00 annually, second by Kennedy. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes.

F. Y. I.
PERAC Annual Report 2021, PERAC Memos #22-Cost of Living Increase for Supplemental Dependent Allowance Paid to Accidental Disability Retirees and Accidental Death Survivors, PERAC Correspondence-Approval of Funding Schedule, PERAC-GASB 67/68 Information, PRIT Fund Update July, Crescendo Ventures- Quarterly Reports, Boston Millennia-Quarterly Reports, Trial Balance, Adjusting Entries, Receipts, Disbursements and General Ledger for the month of July, Treasurer’s Reconciliation for the month of June, Budget Balances as of August, Monthly Transfers for August, 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 Schmaelzle to adjourn at 6:44 P.M. second by Scanlon. Scanlon, yes, Burns, yes, Kennedy, yes, Schmaelzle, yes, Moynihan, yes.

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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