AGENDA FOR THE SPRINGFIELD RETIREMENT BOARD MEETING
70 TAPLEY STREET, SPRINGFIELD, MA 01104
TO BE HELD ON FEBRUARY 5, 2025 AT 5:00 P.M.
Agenda Item #1-Minutes
Vote to consider approving the minutes of the meeting held on January 8, 2025.
Agenda Item #2-Involuntary Accidental Disability Application-Benjamin Bouffard-Fire Department
Vote to consider the acceptance of the application for Involuntary Accidental Disability benefits submitted by Commissioner Bernard Calvi, and request that PERAC convene a medical panel.
Agenda Item #3-Involuntary Accidental Disability Application-Paul Arpin-Fire Department
Vote to consider additional information received regarding the Involuntary Accidental Disability application submitted by Commissioner Bernard Calvi on Paul Arpin.
Agenda Item #4-Application for Disability Benefits-Lloyd Smith-Fire Department
Vote to consider additional information received regarding the Involuntary Accidental Disability application submitted by Commissioner Bernard Calvi on Lloyd Smith.
Agenda Item #5-Superannuation Applications
Vote to consider the acceptance of the following Superannuation Applications:
1. David Cuoco, Manager, Parks Department with 39 years as of January 28, 2025.
2. Joseph Hogan, Senior Custodian, School Department with 43 years as of March 15, 2025.
3. Tommy Horne, Police Officer, Police Department with 32 years and 11 months as of
March 4, 2025.
4. Anthony Johnson, Working Foreman, Water and Sewer Commission with 33 years and 3
months as of April 8, 2025.
5. Celeste Montessi, Para Educator, School Department with 18 years and 4 months as of
February 26, 2025.
6. Virginia Santiago, Senior Clerk, Springfield Library with 25 years as of February 2, 2025.
7. Maureen Tipton, Library Associate, Springfield Library with 36 years and 5 months as of March 29, 2025.
Agenda Item #6-Superannuation Calculations
Vote to approve the eleven (11) 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 #1 Expenses in the amount of $3,383.63
Warrant #2 Refunds in the amount of $253,021.23
Warrant #3 Refunds in the amount of $76,325.48
Warrant #4 Transfers in the amount of $189,214.34
Warrant #5 Refunds in the amount of $122.08
Warrant #6 Expenses in the amount of $109,578.89
Warrant #7 Retirement payroll in the amount of $7,989,925.81
and redemption from the PRIT fund in the amount of $6,300,000.00
Warrant #8 Expenses in the amount of $1,292.22
Agenda Item #8-Refunds/Transfers to Other Systems
Vote to consider the sixteen (16) 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 forty-six (46) 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 December as presented to the Board.
Agenda Item #11-Calendar for Retirement Board Member Election
Vote to adopt the election calendar, process, and designate the election officer.
Agenda Item #12-Director’s Report
Agenda Item #13-Attorney’s Report
Agenda Item #14-Old Business
Agenda Item #15-New Business
Reports and Notices
PERAC Memos
o #1-2025 Interest Rate set at 0.1%
o #2-Repeal of the Social Security Windfall Elimination Provision and Government
Pension Offset
o #3-Required Minimum Distribution: Still Age 73 for This Year’s Notifications
o #4-2025 Limits under Chapter 46 of the Acts of 2002
o #5-2025 Limits under Section 23 of Chapter 131 of the Acts of 2010
o #6-COLA Notice
o #7-Buyback and Make-up Repayment Worksheets
o #8-Investment Manager Statements in PROSPER and User Guide
o #9-Actuarial Data
PERAC Pension News
PERAC Funded Ratios as of December 31, 2024
PRIT Fund Update-December
Treasurer’s Reconciliation for the month of December
Budget Balances as of January
Monthly Transfers as of January
Recent Retiree Deaths
List of Injury Reports
Monthly Cash Flow
Next Monthly Board Meeting: March 5, 2025 @ 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.